There are hundreds of FX brokers in a country like South Africa, where FX trading has been trending amazingly. So, which one is the best forex trading platform South Africa for you?
It isn’t easy to find a legit, reliable and suitable broker that matches your trading style.
But you are the only person in the world who can answer this question. Yes, YOU!
Because you know your style better, we will help you with a list of best forex trading platforms in South Africa, and you can choose one of them for you. So, here we go:
XTB
XTB broker is one of those FX trading platforms that are famous for their low fee.
Regulations
XTB is a UK-based online trading platform situated in London. It has been regulated by one of the most reputable agencies of the UK FCA (Financial Conduct Authority).
Pros and Cons
Pros:
- Extremely fewer FX fees.
- Immensely easy deposit and withdrawal.
- The account opening process is so easy that anyone can follow.
Cons
- Only CFD trading opportunities are available.
- Stocks CFD fees are quite high.
Pepperstone
It is one of the best forex trading platforms South Africa, and it was launched in 2010 by Joe Davenport and Owen Kerr.
Regulations
Pepperstone is an extremely wide network of FX trading in Australia. But it is regulated in many big FX trading hubs worldwide, including the Financial Conduct Authority (FCA) in the UK, the Dubai Financial Services Authority (DFSA) in the UAE and the Australian Securities and Investments Commission (ASIC) in Australia. So, you can confidently trade with it without any worry about your money.
Pros and Cons
Pros
- Third-party integrations are quite impressive.
- Remarkable customer service, including phone calls.
- Withdrawal and deposit are quite easy.
Cons
- It is a quite big network but still it is restricted to CFD and FX.
Capital.com
It is quite an impressive trading platform globally because it is a new broker launched recently in 2016. But still, it gained so much popularity and good reviews in this small passage of time.
Regulations
Capital.com is a UK-based FX broker regulated in the UK by Financial Conduct Authority (FCA). Suppose you think that it is regulated in England to be the cause of any mishap or scam. In that case, I suppose you might be wrong because a broker is regulated in any huge hub of FX trading.
Pros and Cons
Pros:
- You can enjoy commision-free FX trading with this trading platform.
- There is a wide range of shares of the UK and USA.
- The education and teaching system of Capital.com is quite amazing.
- You can also get the option of an AI assistant.
Cons:
- Capital.com does not provide any custom strategy.
Conclusion
When going for any broker, analyze its pros and cons first because pros and cons are extremely important. You have to check which broker’s pros are suitable for you and which broker’s cons are bearable for you. And then the broker that is with more pros and less cons should be your partner. And never forget to check its regulation as it is essential.