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 with a sign-up bonus that can be claimed after the account is verified and/or after the first minimum deposit.

Khwezi Trade

khwezi trade image

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 is an authorized OTC Derivatives Provider and a proudly South African forex broker that provides a trading platform designed exclusively for both novice and experienced traders.

Khwezi Trade is specifically for traders who wish to get a very competitive advantage in their trading.

Traders are eligible to withdraw the sign-up bonuses once trading volume requirements have been met.

Khwezi Trade Pros and Cons


✔ Pros ❌ Cons
Trusted forex broker with regulation through the Financial Sector Conduct AuthorityNo crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensingThere are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South AfricaUS 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


👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👍 FSCA
đŸ’ĩ Minimum deposit from💰 ZAR500
⚖ī¸ Average spread from👉 0,6 pips
📈 Commissions fromN/A
💸 Deposit/Withdrawal FeesN/A
⚖ī¸ Maximum Leverage⚖ī¸. 1:400
🤑 Bonuses👍 30%
❓ Customer SupportđŸĒ. 24/5

AvaTrade

Avatrade-Logo

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.

AvaTrade Pros and Cons


✔ PROS❌ CONS
Broad range of tradable instrumentsHigh EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

AvaTrade features


👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 Central Bank of Ireland, MiFID, ASiC, BVI
đŸ’ĩ. Minimum deposit from💰 $100
⚖ī¸ Average spread from👉 0.9 pips
📈 Commissions from📈 No commission on Forex
💸 Deposit/Withdrawal Fees🙅. None
⚖ī¸ Maximum Leverage⚖ī¸ 1:400
🤑 Bonuses💰 First Deposit Bonus
❓ Customer SupportđŸĒ 24/5 – multilingual

Tickmill

tickmill-brokers-logo

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.

Tickmill Pros and Cons


✔ Pros ❌ Cons
Negative balance protection offeredThere are no fixed spread accounts
FIX API, VPS, and AutoChartist offeredCrypto trading is not offered
Client funds are kept segregated in bank accounts with top financial institutionsA limited selection of educational tools offered
Investor protection is provided and Tickmill is a member of a compensation fund
Multi-regulated forex broker with a high trust score
Offers a range of advanced trading tools for professional traders

Tickmill features


👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 FSA, FCA, CySEC, Labuan FSA, FSCA
đŸ’ĩ. Minimum deposit from💰 $100 / 1 600 ZAR
⚖ī¸ Average spread from👉 0.27 pips
📈 Commissions from📈 No commission on Forex
💸 Deposit/Withdrawal Fees🙅. No
⚖ī¸ Maximum Leverage⚖ī¸ 1:500
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

FXTM

FXTM-Logo

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.

FXTM Pros and Cons


✔ Pros ❌ Cons
Offers more than 250 financial instrumentsInactivity 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


👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 CySEC, FCA, FSC, FSCA
đŸ’ĩ. Minimum deposit from💰 $10 / 160 ZAR
⚖ī¸ Average spread from👉 0.1 pips
📈 Commissions from📈 No commission on Forex
💸 Deposit/Withdrawal Fees🙅. Deposit fees no, withdrawal fees yes
⚖ī¸ Maximum Leverage⚖ī¸ 1:2000
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

Exness

Exness-Logo

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.

Exness Pros and Cons


✔ī¸ Pros❌ Cons
Comprehensive trading solutions are offered along with competitive trading conditionsThe 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 sizesThe 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 moreThere 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


👉 Featureℹī¸. Information
👮‍♂ī¸ Regulation👍 CySEC
đŸ’ĩ Minimum deposit from💰 $10 / ZAR R160
⚖ī¸ 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
⚖ī¸. Maximum Leverage⚖ī¸. 1:2000
🤑. Bonuses💰. 10% of Deposit Bonus
❓ Customer SupportđŸĒ. 24/7

FXCM

FXCM-Logo

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.

FXCM Pros and Cons


✔ī¸ Pros❌ Cons
FXCM is a member of the FSCS compensation scheme, providing traders investor protectionThe average spread that traders can expect is not the tightest
Well-regulated
A social trading platform is provided for active traders and those who want to participate in copy trading
There is advanced charting provided by TradingView
Trading Central offers a daily analysis of all market conditions that traders can use on their trading day as part of a solid trading plan
Offers a ZAR Account and ZAR deposits

FXCM features


👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 FCA, FSCA, ASIC
đŸ’ĩ Minimum deposit from💰 $50 / ZAR R800
⚖ī¸ Average spread from👉 1.2 pips
📈 Commissions from📈 $2 / ZAR R32 2.00 per 100k lot per side
💸 Deposit/Withdrawal Fees🙅 Start from $0 / ZAR R0 depending on withdrawal method used
⚖ī¸ Maximum Leverage⚖ī¸ 1:400
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

HotForex

HotForex-Logo

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.

HotForex Pros and Cons


✔ī¸ Pros❌ Cons
Commission-free trading offered along with a ZAR accountFixed spreads are not provided
Education materials are provided along with an economic calendar, and other tools
Loyalty program, deposit bonuses, and other promotions offered
Tight average spread is offered on major currencies such as EUR/USD

HotForex features


👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 CySEC, FCA, DFSA, FSA, FSCA, CNMV, BaFin
đŸ’ĩ Minimum deposit from💰 $5 / ZAR R80
⚖ī¸ Average spread from👉 0.0 pips
📈 Commissions from📈 $3 / ZAR R48
💸 Deposit/Withdrawal Fees🙅 None
⚖ī¸ Maximum Leverage⚖ī¸ 1:1000
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

Frequently Asked

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.

Further reading:

7 Best Forex Brokers in South Africa with Sign-Up Bonus

10 Best Forex Brokers for Beginners

10 Best Forex Brokers in Namibia

10 Best Forex Brokers in SA with ZAR Deposits

11 Best Forex Brokers in South Africa with Demo Accounts

11 Best Forex Brokers in South Africa with Low Spreads

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