10 Best Nasdaq 100 Forex Brokers in South Africa
The NASDAQ is an American stock market run and managed by NASDAQ Inc., which is a lucrative index for traders to enter.
You may trade NASDAQ CFDs online with one of the finest NASDAQ 100 Forex Brokers in South Africa on this list.
Brokers offering online platforms to trade Nasdaq and forex must have a FAIS licence and an ODP licence (or a pending application with the FSCA) to operate within the South African borders. It is a criminal offence to operate in South Africa providing Financial Services of any sort without being regulated by the FSCA.
Khwezi Trade
If you’re looking for a recognized and regulated South African brokerage firm, Khwezi Trade is the right choice.
Khwezi Trade, a division of Khwezi Financial Services (Pty), is the first South African-owned forex platform to be awarded the OTC licence by the FSCA.
Khwezi Trade has ZAR-based trading accounts. The South African broker provides outstanding trading conditions, devoted customer service, and a wide range of free deposit and withdrawal alternatives to its customers.
Khwezi Trade has four different account tiers: Silver, Gold, Platinum, and Diamond. Each tier has its own set of features and benefits. Each of these accounts has its own unique features and perks, making them ideal for traders of all skill levels and trading styles.
If you are a South African trader looking for a local broker with local regulation, local offices, local support, and a local bank, Khwezi Trade is worth your consideration.
Khwezi Trade Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Trusted forex broker with regulation through the Financial Sector Conduct Authority | No crypto deposits accepted |
| Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensing | There are limited account base currency options |
| Khwezi Trade is an authorised FSP and ODP in South Africa | US clients are not accepted |
| Traders are provided access to powerful trading technology | |
| Competitive spreads are offered | |
| There is a decent maximum leverage ratio offered |
Khwezi Trade features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👍 FSCA |
| 💵 Minimum deposit from | 💰 ZAR500 |
| ⚖️ Average spread from | 👉 0,6 pips |
| 📈 Commissions from | N/A |
| 💸 Deposit/Withdrawal Fees | N/A |
| ⚖️ Maximum Leverage | ⚖️. 1:400 |
| 🤑 Bonuses | 👍 30% |
| ❓ Customer Support | 🏪. 24/5 |
AvaTrade
Forex/CFD broker AvaTrade, which was founded in 2006 and has its administrative headquarters in Dublin, Ireland, has a long history.
AvaTrade was one of the first big retail Forex/CFD brokers, therefore it has a long track record.
There are a variety of cutting-edge platforms available at AvaTrade, including MT4 and MT5, WebTrader, AvaOptions, and the Award-winning AvaTradeGO mobile app.
AvaProtectTM, a unique risk management tool, provides you with the safest approach to trade.
Clients of AvaTrade may choose from a wide range of popular worldwide instruments.
Avatrade Pros and Cons
| ✔ PROS | ❌ CONS | ||
|---|---|---|---|
| Broad range of tradable instruments | High EURUSD and inactivity fees | ||
| MetaTrader 4 and 5 available | |||
| Excellent educational resources |
Avatrade features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 Central Bank of Ireland, MiFID, ASiC, BVI |
| 💵. Minimum deposit from | 💰 $100 |
| ⚖️ Average spread from | 👉 0.9 pips |
| 📈 Commissions from | 📈 No commission on Forex |
| 💸 Deposit/Withdrawal Fees | 🙅. None |
| ⚖️ Maximum Leverage | ⚖️ 1:400 |
| 🤑 Bonuses | 💰 First Deposit Bonus |
| ❓ Customer Support | 🏪 24/5 – multilingual |
XTB
XTB was founded in 2002 and is now one of the largest stock exchange-listed brokers in the world, according to its website. It is well-known for its thorough research, openness, and promptness in completing orders.
All of XTB’s marketplaces and tradable assets may be traded at low rates.
Tradable assets include FX trading, commodities, stocks, ETFs and cryptocurrency pairings. XTB is strictly regulated by the main financial institutions such as the Financial Conduct Authority (FCA).
Because XTB has two platforms, it’s compatible with just about every computer or mobile device.
Many international awards have recognized XTB for cheap costs and speedy order execution.
XTB Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Low trading fees | High stock CFDs |
| Free deposit and withdrawal | Limited asset portfolio |
XTB features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 KNF, FCA, CySEC and IFSC |
| 💵. Minimum deposit from | 💰 $250 / 4000 ZAR |
| ⚖️ Average spread from | 👉 1.02 pips |
| 📈 Commissions from | 📈 0.08% of trade value with $8 / 128 ZAR minimum |
| 💸 Deposit/Withdrawal Fees | 🙅 $30 / 480 ZAR on withdrawals of less than $50 / 800 ZAR |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 $40 / 640 ZAR No Deposit Bonus |
| ❓ Customer Support | 🏪 24/5 |
Forex.com
With Forex.com, you may trade a wide range of financial instruments, such as currencies, commodities and stocks.
In addition to being governed by numerous jurisdictions, the US-based organization conducts business in an open and secure manner.
Forex.com is one of the world’s most popular trading platforms for currencies and other assets.
Excellent security measures are in place to safeguard your money at the registered brokerage.
Over 80 currency pairings, precious metals, futures, and options are supported by Forex.com.
Forex.com Pros and Cons
| ✔ 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 |
Forex.com features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MAS |
| 💵. Minimum deposit from | 💰 $100 / 1 600 ZAR |
| ⚖️ Average spread from | 👉 1.5 pips |
| 📈 Commissions from | 📈 $5 / 80 ZAR commission per 100K traded |
| 💸 Deposit/Withdrawal Fees | 🙅. Not indicated |
| ⚖️ Maximum Leverage | ⚖️ 1:50 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
OctaFX
OctaFX, a STP broker with headquarters in Saint Vincent and the Grenadines,
OctaFX was established in 2011 and services traders from more than 100 countries.
In addition to the Financial Services Authority of St Vincent and the Grenadines, the Cyprus Securities and Exchange Commission (CySEC) oversees OctaFX’s business activities.
It is possible to open an OctaFX trading account with a minimum deposit of 25 USD, although OctaFX suggests that traders deposit at least 100 USD.
OctaFX provides for hedging, scalping, and copy trading, all in a matter of tenths of a second.
Those who adhere to Islam may also open Islamic bank accounts.
OctaFX Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| More than 30 forex pairs available | No Forex educational tools |
| Well-regulated | No VPS available |
| Ultra-fast execution |
OctaFX features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CySEC |
| 💵. Minimum deposit from | 💰 $100 / 1600 ZAR |
| ⚖️ Average spread from | 👉 0.7 pips |
| 📈 Commissions from | 📈 None |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 50% Deposit bonus |
| ❓ Customer Support | 🏪 24/5 |
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By being a top broker in frontier and emerging markets, FXTM has made a name for itself in the industry.
Users benefit from an improved trading interface, proprietary copy-trading services and high-quality educational resources. As far as commission-based pricing is concerned, FXTM is among the finest in the business.
As of now, there are 1,227 equity CFDs and 420 US-listed stocks in FXTM’s portfolio, with 63 currency pairings and 0 cryptocurrency pairs.
The selection of commodities, including index CFDs, is restricted, but the entire selection of trading instruments is quite competitive.
High-frequency traders and scalpers will find FXTM an excellent broker. Emerging and frontier market traders have come to rely on it as a market leader.
FXTM Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Offers more than 250 financial instruments | Inactivity fees charged on dormant accounts |
| Offers a choice between retail investment accounts | |
| Commission-free trading options are offered | |
| Requires a low minimum deposit | |
| Dedicated and multilingual customer support offered | |
| Perfect broker for beginners |
FXTM features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CySEC, FCA, FSC, FSCA |
| 💵. Minimum deposit from | 💰 $10 / 160 ZAR |
| ⚖️ Average spread from | 👉 0.1 pips |
| 📈 Commissions from | 📈 No commission on Forex |
| 💸 Deposit/Withdrawal Fees | 🙅. Deposit fees no, withdrawal fees yes |
| ⚖️ Maximum Leverage | ⚖️ 1:2000 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
GO Markets
GO Markets was established in 2006.
GO Markets is a registered broker that offers over 600 trading products, including Forex, Share CFDs, Indices, Metals, and Commodities, all from one account.
They provide trading platforms that are both strong and user-friendly, as well as a wealth of trading resources and a comprehensive instructional center.
The trading conditions at Go Markets are extremely competitive, featuring narrow spreads, cheap fees, and swift transaction execution speeds at the best prices currently available.
A wide range of deposit and withdrawal methods are available, as well as 24/5 customer service.
GO Markets Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Low trading fees | Limited account options |
| Ultra-fast execution | |
| Advanced analytical tools | |
| Low minimum deposit |
GO Markets features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 ASIC |
| 💵. Minimum deposit from | 💰 $1 / 16 ZAR |
| ⚖️ Average spread from | 👉 0.0 pips |
| 📈 Commissions from | 📈 None |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 30% Deposit bonus |
| ❓ Customer Support | 🏪 24/5 |
Exness
Exness is regulated by the Financial Services Authority (FSA) of Seychelles and the Financial Sector Conduct Authority (FSCA) of South Africa, Exness is licensed to operate.
Users can use the broker’s unique online trader interface or MetaTrader 4/MetaTrader 5.
Trade on more than 200 financial CFD products, including forex, shares, indices, energies, metals, and cryptocurrencies.
Virtual Private Server (VPS), social trading, trade calculators, and Tick History downloads are only some of the additional trading options offered by the firm.
With that said, the research and educational materials are likewise filled with excellent information.
Exness Pros and Cons
| ✔️ Pros | ❌ Cons |
|---|---|
| Comprehensive trading solutions are offered along with competitive trading conditions | The rollover fees which are charged are not transparent |
| Offers flexible maximum leverage levels which are suited to any high volume trader who needs flexibility on trade sizes | The variable average spreads are wider than that of other forex brokers |
| Supports powerful trading platforms with robust charting capabilities, technical indicators, an economic calendar, and more | There is a limited range of trading instruments offered |
| Provides access to VPS to eligible professional traders | |
| Exness is one of the largest forex brokers in terms of trading volumes, trading solutions, and customer base |
Exness features
| 👉 Feature | ℹ️. Information |
|---|---|
| 👮♂️ Regulation | 👍 CySEC |
| 💵 Minimum deposit from | 💰 $10 / ZAR R160 |
| ⚖️ Average spread from | 👉 0.0 |
| 📈 Commissions from | 📈 $0.1 / ZAR R1.60 to $3.50 / ZAR R56.00 |
| 💸 Deposit/Withdrawal Fees | 🤷 Variable depending on method |
| ⚖️. Maximum Leverage | ⚖️. 1:2000 |
| 🤑. Bonuses | 💰. 10% of Deposit Bonus |
| ❓ Customer Support | 🏪. 24/7 |
FP Markets is a well-established CFD and FX broker.
Raw, tight spreads of 0.0 pips are available on over 10,000 CFD items.
Customers may take advantage of a vast liquidity pool of licensed financial institutions by using the broker’s raw pricing, which it receives directly from its top-tier liquidity suppliers.
FP Markets Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Low forex fees | High stock CFD Fees |
| Streamlined and fast account opening process | Limited product portfolio |
| Fast processing for deposits and withdrawals |
FP Markets features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 Australian ASIC, Cypriot CySEC, SCB |
| 💵. Minimum deposit from | 💰 $100 / 1600 ZAR |
| ⚖️ Average spread from | 👉 0.5 pips |
| 📈 Commissions from | 📈 $55 monthly commission for IRESS Trader users only |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 $30 / 480 ZAR welcome bonus |
| ❓ Customer Support | 🏪 24/7 |
Pepperstone
Pepperstone Group Limited was founded in Melbourne, Australia, in 2010.
Pepperstone has become one of the leading CFD and Forex platforms in the world.
If you are looking for a quality broker, Pepperstone has a well-known customer care department that is ready to assist you.
It is possible to open a free demo account before putting any money into one of the two types of CFD accounts.
Pepperstone Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Well-regulated and large international trading provider | There are no fixed spread accounts offered |
| Social trading opportunities are offered | A limited selection of tradable financial markets |
| Negative balance protection applies to retail investor accounts | |
| Offers some of the best customer service and a trusted trade execution model | |
| Supports the use of any trading style or trading strategy, ensuring the best average spread on all instruments | |
| Best broker for beginners who are just starting and offers demo accounts with virtual funding |
Pepperstone features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 FCA, ASIC, DFSA, CySEC, CMA, SCB |
| 💵. Minimum deposit from | 💰 $0 / 0 ZAR |
| ⚖️ Average spread from | 👉 0.6 pips |
| 📈 Commissions from | 📈 $3.76 / 60 ZAR per lot |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:30 |
| 🤑 Bonuses | 💰 No |
| ❓ Customer Support | 🏪 24/5 |
Other useful resources:
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7 Forex trading secrets
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