PROS CONS
FSCA-authorized OTC Provider and the first non-banking entity to receive this license Only offers ZAR based trading accounts
Authorized ODP and FSP in South Africa No equity instruments are offered on retail investor accounts
South African broker with FSCA regulation
Provides dedicated customer service
Educational material offered to beginner traders
Reputable South African broker with a high level of trustworthiness
PROS CONS
Multi-award-winning and safe broker for beginners and professional traders Variable spreads are not offered
Competitive spreads offered on all retail investor accounts The average spread is not the lowest
Offers South African traders a range of trading instruments that can be traded across different software including proprietary trading platform Trading fees are not the best
Social trading offered over proprietary platforms
Accepts any type of trading strategy used in trading forex & CFDs
Competitive trading costs are offered in addition to a transparent trading environment and the benefit that deposit and withdrawal fees are not charged
PROS CONS
Negative balance protection is offered on retail accounts along with the benefit of competitive spreads on all accounts Fixed spread accounts are not offered
A low minimum deposit is required when South African traders register an account Limited education material offered
Multi-regulated by reputable entities Crypto trading is not offered
Provides investor protection to all retail traders
Commission-free trading is offered along with competitive exchange rates and market conditions on leveraged instruments
Client funds are kept in segregated accounts with top-tier financial institutions
PROS CONS
Low minimum deposit requirement There is an inactivity fee applied to dormant accounts
Offers reliable deposits & withdrawals
Several account types to choose from with decent average spread charged on major currency pairs
There is a range of markets offered and traders are protected against currency fluctuations through negative balance protection
Large selection of educational materials provided to beginner traders
Dedicated, prompt customer support
PROS CONS
One of the best regulated brokers for South African traders Limited selection of trading instruments offered
High maximum leverage and an ultra-low initial deposit requirement
Offers a deposit bonus, welcome bonus, and sign-up bonus to forex traders
Offers a reliable platform for trading along with competitive trading fees
Transparent broker that warns traders about the risks of trading
Offers the perfect solution for any retail trader who wants exposure in forex markets
PROS CONS
Well-regulated by several entities and is one of the trusted trading brokers Spreads are not the tightest
Offers a competitive minimum deposit to South African traders
Social trading opportunities offered across trading platforms
Advanced charting offered to advanced traders
Daily analysis provided through Trading Central
Instant order execution offered on trades
PROS CONS
Well-regulated with a high trust score Fixed spreads are not offered
Member of an investor compensation fund and provides investor protection
Negative balance protection applied to retail accounts in addition to a low minimum deposit requirement
Commission-free trading account offered
Offers competitive pricing
A wide range of tradable instruments offered

Trading accounts with South African brokers can be opened from as little as 15 ZAR, depending on the USD/ZAR exchange rate.

Forex and CFD trading carries significant risks that could result in traders losing their funds. Some of the main risks involve volatility risk, unpredictability, counterparty risks, leverage risks, and others.

Stock trading involves the buying and selling of shares while forex trading involves the exchange of currencies to earn a profit from changes in the exchange rate.

There is no single trading strategy that can guarantee a profitable trade. Forex traders must use fundamental analysis, technical analysis, and several other indicators to identify trends in the forex market. Some popular trading strategies include day trading, price action, swing trading, momentum trading, scalping, and news trading.

The forex market is open 24 hours a day from Monday to Friday. The best time to trade forex is when the major stock markets are the most active. The more active traders there are, the more volatile and liquid the market is, meaning that the chances of successful trades are higher with the right strategy.