PROS CONS
Khwezi Trade is an FSCA-regulated forex broker and authorised ODP that caters for beginner traders and professionals Limited account base currency options
Offers trading tutorials and comprehensive market analysis Limited funding options
Offers a choice between four dynamic trading accounts and powerful forex trading apps Premium trading accounts have the best trading conditions
There is a dedicated account manager provided
There is a low minimum deposit requirement of R500 and transparent trading costs
Traders can expect access to powerful trading platforms available across web browsers, desktop, and mobile apps
PROS CONS
One of the best international brokers with multi-regulations Inactivity fees are charged
Offers a choice in complex instruments along with various trade sizes and instant execution
Commission-free retail accounts are offered along with instant deposits and withdrawals
Powerful trading tools are offered to experienced traders
TradingView provided in addition to other advanced trading tools
An execution scorecard is provided, ensuring a guaranteed execution policy
PROS CONS
Offers Islamic accounts to Muslim traders Fixed spreads are not offered
Negative balance protection is applied to trading account types
Minimum deposit of 76 ZAR charged
Competitive trading conditions are offered to South African forex traders
Various financial instruments that can be traded through innovative trading software
Social trading platforms are provided
PROS CONS
Well-regulated by a reputable regulatory authority Fixed spread accounts not offered
Client funds are kept in segregated accounts
Minimum deposit from as little as 724 ZAR
Commission-free trading offered along with competitive trading conditions
Offers a choice in trade sizes, instant execution on trades, and a wide range of assets
Access is provided to AutoChartist and PsyQuation premium
PROS CONS
IQ Option is a reputable broker for beginners with the necessary regulations from a reputable regulation authority Restricted maximum leverage for non-professional traders
Segregated accounts in which client funds are held Fixed spreads are not offered
Offers a wide range of assets that can be traded using different trading strategies
Transparent and low broker fees charged
Advanced trading tools are offered to advanced traders as well as high-volume traders
Offers transparent swap rates, reasonable margin requirements, and a powerful proprietary trading platform
PROS CONS
Well-regulated by reputable market regulators Fixed spreads are not provided
Negative balance protection is offered on retail trading accounts
Flexible account types are offered
There is a wide range of assets that can be traded using different trading strategies
Offers several trading tools, an economic calendar, Islamic trading accounts, and an active trader program
Offers multilingual and dedicated customer service
PROS CONS
Well-regulated by top-tier regulators and welcomes South African customers Limited maximum leverage ratio offered
Variety of educational tools provided including a demo account funded with virtual money MetaTrader is not supported
Offers a wide range of assets that can be traded
Dedicated customer service is offered
Transparent broker that does not have any hidden costs or fees
PROS CONS
Well-regulated by reputable market regulators No fixed spreads
Offers access to powerful trading platforms Limited financial instruments offered
Provides traders access to managed accounts
Customer care supports multiple languages
Offers a wide range of tradable instruments that can be traded including cryptocurrency CFDs, forex pairs, and others
There are demo accounts that can be used, funded with virtual money
PROS CONS
One of the best FSCA-regulated brokers in the world Inactivity fees are charged
Offers a variety of retail accounts to traders
Commission-free trading is offered on some retail trading accounts
Provides Islamic accounts to Muslim traders
Offers transparent broker charges, exchange rates, a competitive rollover rate, and low commissions on trades
Large selection of educational tools
PROS CONS
Well-regulated by major regulators Fixed spreads are not offered
Negative balance protection is applied to retail investor accounts
Commission-free account offered to beginner and experienced traders
Competitive trading conditions are offered
Provides access to a user-friendly platform and mobile platforms
Rollover fees, broker charges, and other fees are transparent

By drawing up a list of the components that you need to evaluate and comparing them between brokers. You can also use comprehensive broker reviews to evaluate certain components.

You need to consider the spread, commissions, overnight fees, and any other trading and non-trading fees to determine how much each trade will cost you.

Forex trading can be complex, but beginners can start trading forex using demo accounts funded with virtual money until they have built up enough trading experience. From here, beginner traders can use cent or micro accounts with lower risks to start trading in a live environment.

Yes, you can use a wide range of educational materials to teach yourself forex trading.

The forex market is the largest, most easily accessible financial market in the world. The forex market features lower trading costs because of its liquidity, making it a popular choice for all types of traders.