7 Best Forex Brokers in South Africa with Sign-Up Bonus
7 Best Forex Brokers in South Africa with Sign-Up Bonus
Forex brokers from around the world provide innovative and lucrative sign-up bonuses to new traders who open a live trading account for the first time.
These sign-up bonuses are provided as trading credit, which is paid into the trading account, allowing traders to trade multiple financial markets without risking real money.
Traders may utilize their sign-up bonus winnings to trade more, or they can withdraw their profits if their forex brokers and profit levels allow it. A sign-up bonus may be used for numerous reasons by traders, either to boost their trading journey or to use the credit while testing strategies. Due to the degree of risk that is involved, several forex firms have ceased giving these incentives.
Below we discuss the 7 best forex brokers in South Africa that provide a sign-up bonus that can be claimed after the account is verified and/or after the first minimum deposit.
A prominent and respected South African broker with its headquarters in Cape Town, Khwezi Trade is one of the best forex brokers to consider where sign-up bonuses are concerned.
Khwezi Trade an authorised OTC Derivatives Provider and a proudly South African forex broker that provides a trading platform designed exclusively for both novice and experienced traders who wish to get a competitive advantage in their trading. Traders are eligible to withdraw sign-up bonus once trading volume requirements have been met.
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
As a multi-regulated and award-winning international forex broker that was established in 2006, AvaTrade currently offers more than 1,250 tradable instruments that can be traded through powerful, innovative, and flexible trading platforms, including MetaTrader 4, MetaTrader 5, social trading platforms, and AvaTrade’s proprietary trading technology.
As a result of AvaTrade’s incredible trading conditions, which include transparent and low trading and non-trading fees, commission-free trading options, reliable trade execution speeds, flexible funding options, and dedicated customer support, the company has earned a reputation for excellence in the financial services industry.
AvaTrade is well-regulated by several reputable market regulators, allowing it to provide trading solutions in a variety of countries throughout the globe. AvaTrade focuses a strong emphasis on the experience of its customers and has the financial resources to provide a diverse range of trading possibilities to both retail and professional traders.
Every month, more than 2 million deals are executed on AvaTrade, ensuring that traders have the liquidity they need to purchase and sell financial products as rapidly as possible.
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
Tickmill was launched in 2015 and is a well-regulated ECN and STP forex and CFD trading broker with offices in the United Kingdom, Cyprus, and Seychelles. As a global forex broker, Tickmill is overseen, regulated, and authorized by the FCA, CySEC, the FSA, and the Financial Sector Conduct Authority in each region where it serves.
Tickmill provides South African clients access to over 80 financial products across many asset types. Additionally, traders may pick from a variety of retail accounts to choose one that meets their specific trading requirements and goals.
Several adaptable and sophisticated trading platforms are available for use, each with a unique set of features, functions, and capabilities that enable traders to not only trade multiple global financial markets but also conduct in-depth fundamental and technical research.
The trading software that Tickmill offers allows traders who are trading CFDs to competitive spreads, decent exchange rates, and base currency trading accounts that are integrated into the WebTrader, desktop applications, and a comprehensive mobile trading app
Tickmill was developed by an experienced team that knows the specific trading demands and ambitions of both retail and professional traders. Tickmill combines innovative trading technology with premium trading conditions to provide traders with the greatest trading experience possible from a forex broker.
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
FXTM is one of the best international brokers for beginners with offices based in Mauritius, the United Kingdom, Cyprus, and South Africa. FXTM has corresponding regulations in each jurisdiction in which it operates, ensuring that it offers a high trust score amongst all clients.
FXTM is an award-winning and trusted company that keeps client funds in separate accounts from the broker’s account.
FXTM offers some of the most competitive trading conditions for South Africans, user-friendly trading platforms that can be used on different devices, and a wide range of educational materials for both beginners and more experienced traders.
FXTM gives new traders a sign-up or welcome bonus when they open a live account. When the account has been verified through the KYC process, trading credit will be added to the account.
More than 250 complex instruments can be traded across global markets, using tight spreads, low commissions, and advanced trading tools that include technical analysis, fundamental analysis, and more.
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
Exness, founded in 2008, is a United Kingdom and Cyprus-based broker that adheres to strict regulations with the FSA, CySEC, FCA, FSCA, CBCS, and FSC to serve traders from all over the globe with unique trading solutions.
Exness provides a variety of tradable products across a few asset types and global markets. Traders should anticipate customized solutions based on their specific trading demands, objectives, trading styles, techniques, and experience.
Exness allows traders to open a live trading account while receiving a sign-up or welcome bonus to kickstart their trading journey. Furthermore, traders may open accounts in numerous currencies dependent on their geographical region, which means that South Africans can get ZAR denominated retail investor accounts.
Exness provides competitive trading conditions, including narrow spreads, cost-effective trading fees, high maximum leverage ratios, and a low initial deposit. Furthermore, traders may utilize a demo account and two of the most advanced trading platforms, MetaTrader 4 and MetaTrader 5, on mobile, the web, and desktop.
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
FXCM was founded in 1999 and is a well-regulated STP broker located in the United Kingdom, with regulations and authorization from the FCA, ASIC, and FSCA. The company offers a diverse selection of tradable instruments via a variety of flexible and creative trading platforms.
FXCM is a worldwide brand with offices in London, Hong Kong, Johannesburg, Athens, Paris, Sydney, Berlin, and Milan, as well as affiliate offices in Toronto and Tel Aviv, Israel.
FXCM is headquartered in London, Hong Kong, Johannesburg, and Athens. Some of the finest liquidity providers in the business, including Barclays Bank, Citibank, Deutsche Bank, and others, are used to generate FXCM’s competitive pricing.
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
HotForex is a well-regulated and well-known CFD and forex broker that has a wide range of instruments that can be traded. These instruments are spread across several different asset classes.
HotForex is known for its competitive trading conditions, a wide range of trading accounts, powerful trading platforms, and a wide range of trading opportunities, among other things.
Another good thing about trading with HotForex is that the broker provides all new traders with a sign-up or welcome bonus when they verify their trading account. This gives them trading credit to trade with before they risk their real money in real market conditions.
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
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.
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.