Trading has always been one of the best things that could happen to the people who wanted to make money or who still want to make money. The part where profits and losses are booked is hugely dependent on a few factors. The first is assumption and calculation. How good the trader is in assuming what is about to happen and how concrete is the calculations behind this. Here are some of the best Forex brokers in South Africa.
What makes a good broker is how much the broker is flexible, what things it provides to make the lives of the traders easy, what kind of platform it offers. Is there anything that can do to make the game more powerful?
A lot of traders walk into the market thinking that they have researched enough and don’t need to look anymore. They have done their part on research, but almost all of them lag behind in researching the broker. One good affiliate link, and the trader goes to the page of some or another broker. Now the broker has made the web page so interesting and infatuating that a novice trader does not think two times before he or she gets associated with the broker.
This article will discuss some of the best brokers in South Africa with whom you can trade in 2021.
HFTrading is one of the best brokers out there, without a second thought to the fact. The broker saw the face of the market in 2019, and since then, it has been eradicating a lot of trash competition.
The best thing about HFTrading is the diversified asset class that gives the trader an option to explore the market in such a way that he or she understands what trading is. Commissions are a strict no-no for this broker as there are none asked from the traders.
The broker is definitely one of the best forex brokers, and it has proved time and again that trading is productive when done with HFTrading.
With the MetaTrader lineage, the broker offers the best trading services to its traders.
The broker earns via variable spreads that vary from asset to asset and account to account. The broker offers a silver account, a gold account, and a platinum account when it comes to accounts. The idea behind providing such diverse account types to its traders is that the novice or the professional, for that matter, should have ample lay space with trading; the trader should not feel stuck while trading. The leverage offered on each account is also different.
HFTrading also daunts an impressive library of educational material for the traders who want to learn while they trade. The library consists of on-demand videos, lectures and tutorials, and many other things that can make the lives of the traders easy.
CTRL investments private limited is the parent company of the financial service provider, which is regulated by the New Zealand Financial Markets Authority (FSPR No. FSP197465) and the Australian Securities and Investments Commission (AFSL No. 414198).
Who hasn’t heard about Global TradeATF? You? Okay, now you will.
Heard about the Argentinian football team? This broker is the official sponsor of that team. Global TradeATF established in 2013, way before many so-called brokers claim to be actual brokers but are not service providers at all.
The firm operates in all of the European countries and is completely regulated, and follows the trading rules set by Belize International Financial Services Commission (IFSC). The firm is held under licence number 60/322/TS/19. The brokerage firm operates under Bayline World Ltd., with offices situated in the UK and Belize City.
GolbalTrade ATF offers three different account types that are well designed to take care of the trading needs of the users. The broker offers a silver account, a gold account and a platinum account as well. The idea behind providing three different accounts to the users is to enlarge the area covered by the people so that they can understand the game to its core.
Each account is handcrafted by keeping the level of expertise of the traders in mind. The categories are also differentiated on the basis of investments the traders can put in. The platinum account is specifically made for the people who want retail investor accounts and are the big players in the market. The leverage offered is also huge in this account. That is done because people who use this account have had a decent market experience and know well how to play with leverage.
Global trade ATF is one of the best forex brokers, given its huge presence in the market and the amount of time it has spent in the game. A trader once associated with thi0s broker will never go anywhere else. It’s like the Pfizer shot. Once you get it, everything else is just an excuse for a vaccine.
ETFinance is the financial service provider that saw the face of the market in 2018 and has been making huge noises since then. The firm has gained unprecedented popularity in such a short span of time. The concept of one shot, one kill for all the issues that the traders put up, the broker has made sure that it leaves no stone unturned in gaining excellence and coming in the good books of the traders. The financial service provider is the official partner of the Real Madrid football club.
The broker offers to trade in CFDs, cryptocurrencies, indices, shares, energies, to name a few. The award-winning firm came into existence to cultivate a noble cause of providing a stage to the traders that is multi-purpose.
The financial service provider wants people to acknowledge how big is the trading game and how people can benefit from it. Globally, there are not a lot of people that trade.
The firm offers the non-trading people a long term solution to trade. With the broker’s brand in recent years, ETFinance offers one of a kind experience to the traders. They have the best policies, tips, information, and tools that the traders can use to boost their financial sectors.
The broker offers three different trading accounts: the silver account, the platinum account and the gold account. There are more than 700 trading assets that the traders can trade with the broker. This includes cryptocurrencies, energies, shares, stocks, to name a few. The best part is that all of these assets are tradable via CFDs.
The broker was founded in 1992 and is licenced in Six different jurisdictions that are tier-1. The fact that not one but six different jurisdictions regulate it makes it a low-risk broker for trading in CFDs and forex.
The minimum balance required for operating with the broker is $10,000, and that value is different depending on different currencies. If the minimum deposit looks too high, traders can always move on to different options like HFTrading, ETFinance, Brokereo, GolbalTradeATF etc.
If you keep the minimum balance aside, the services offered by the broker are absolutely brilliant. The client experience, the service offered, and the broker’s things to the traders are all one of a kind. The broker offers a range of 40,000 instruments. That is a lot of instruments if you ask us. The platform that the broker offers is a state of the art technology and goes by the name SaxoTraderGo. The way it makes the traders navigate through the market is more than enough to underline smooth navigation.
The broker Saxo bank is regulated by:
The Australian Securities & Investment Commission (ASIC)
Securities Futures Commission (SFC),
Monetary Authority of Singapore (MAS),
Japanese Financial Services Authority (JFSA),
Swiss Financial Market Supervisory Authority (FINMA)
and the Financial Conduct Authority (FCA)
The broker is also commission-free, with just one exception. The traders who trade less than $50,000 per month have to give a fee of $3 per trade.
The firm was established in 2010, and since then, it has emerged as one of the best brokers. The firm builds solid competition with a lot of brokers. The trading portal that the firm has built is one of a kind, and it dominantly focuses on forex, shares, indices, to name a few.
The minimum balance that the broker asks for opening an account is 200 units of the base currency. The leverage offered by the broker is 1:500. Also, the firm is regulated by the Financial Conduct Authority (FCA) with the licence number FCA #684312) and by the Australian Securities and Investments Commission with the licence number ASIC #147055703. Like most of the forex brokers out there, even PepperStone does not accept clients from the US. However, it works in South Africa.
The trader accounts are fund-segregated by the company, and they also provide an additional layer of security within an industry that is susceptible to volatility. The broker offers support to the trader’s works for 24 hours a day and 5 days a week. The broker’s website has some frequently asked questions, and they clearly state the policies on withdrawals, deposits, and disputes, if there are any.
The platform that the broker offers is different and can be accessed by either a phone or a desktop with a working internet connection. Pepperstoe offers educational material that is above the industry standards, and the resources speak for themselves. Multiple account types, tight spreads and a product catalogue that spells HUGE are some of the plus points of the broker.
All of these things, when provided in one place, are a cocktail served to the novice traders and the professional ones.
With varying trading costs, the broker ICMarkets offers three different trading accounts. The broker works on a spread-only method. The standard account works in a way that it only asks for spreads, while the other two accounts are the ones that ask for a spread as well as a commission. This might come as a deal-breaker for a lot of traders and swing traders in particular.
Swing or momentum traders make a lot of trades throughout the day, keeping the profit factor low for each trade. When the trades add up, they make a decent profit, pretty visible at the end of the day.
When the commissions are taken from the traders just because they are making a few trades, it disheartens their spirit. It leads to the deduction of profits.
The platforms offered by the broker are the ones from the MetaTrader lineage, the MT4 and MT5, respectively. These platforms are known to help the traders and forex traders in particular. MetaTrader is one of the most trusted names when it comes to trading platforms.
Trading is a risky job; forky business and should be done with proper research. It needs a heart made out of iron because once the trader sees loss in the picture, it is up to him how he looks at it. A lot of traders quit when their first few losses hit. These losses are mostly because of the inappropriate use of leverage, and traders lose money rapidly. Trading is not something that can be done on the side. It always is, eds focus and time.
Frequently Asked Questions:
Which broker is the best for me?
This is a subjective question. The best broker is a title that a lot of people have different metrics for. For some, the least commissioned broker can be the best, for others, the least leveraged broker can be the best and so on. To understand which is the best broker for you, look out for your trading needs and then decide where to go.
Can I lose money while trading?
Yes, losing money is one of the few things that you should be least afraid of. Losing money takes the money off of your wallet, but it gives back experience, and that is what matters in the financial market.