10 Best Brokers for Swing Trading in South Africa

If you’re looking for short-term gains on a financial instrument over the course of a few days to several weeks, swing trading is the best strategy for you. Technical analysis is the primary tool used by swing traders to identify trading opportunities.

Fundamental analysis can be used by swing traders in addition to chart patterns and price trends.

In this article, we take a closer look at the best brokers for swing trading in South Africa.

Accounts held by Khwezi Trade are held in South African Rand (ZAR) in a segregated account.

Lower minimum deposits with lower trading fees for all four real accounts, and each account has a dedicated personal account manager.

The broker is being prudent by limiting leverage to 1:400 in order to minimize risk.

There are no fees for deposits or withdrawals, while trading is available on the MT4 platform.

The customer service offered by Khwezi Trade is second to none with a dedicated and experienced team of South African account managers.

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

FXTM

For more than a decade, FXTM or ForexTime has been an international broker.

There are currently more than 3 million customers on the platform, making it the fastest-growing forex broker in the world.

Investors of all skill levels can use FXTM to trade 59 different currency pairs as well as contracts for difference (CFDs) on commodities and indices, and CFDs on stocks.

If you have an account with FXTM, you can trade on your phone, tablet, or laptop as well.

Orders are executed instantly, its regulation is trusted, and customer service at FXTM is excellent.

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

AvaTrade

Forex and Contracts-for-Difference (CFD) trading in shares, bonds, indices, ETFs, commodities, and cryptocurrencies are available through AvaTrade’s global network of platforms.

Several configurable trading platforms are available to AvaTrade customers.

When it comes to manual trading, traders have the option of using either the AvaTradeGo interface or the industry-standard MetaTrader4 (MT4) platform.

Mobile trading is supported on both platforms.

Additionally, traders have the option of using ZuluTrade, an automated trading platform that can be incorporated into MT4, downloaded as an app or traded online.

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

FxPro

Multi-award-winning brokerage firm FxPro was founded in 2006 and is headquartered in London. FxPro Group Limited owns a majority stake in the company.

It specializes in online trading and provides Contracts for Difference (CFDs) on six asset classes: stocks, spot indices, foreign exchange futures, spot energy, and metals.

A wide range of market instruments and popular trading platforms are all available with FxPro.

FxPro also offers tight spreads and high leverage.

In terms of customer protection and jurisdiction, FxPro UK Limited adheres to all legislation.

FxPro appears to be a trustworthy and transparent company.

With this broker, novice and experienced traders both may expect to enjoy a great trading experience.

FxPro Pros and Cons

✔️ Pros	❌ Cons
Mobile trading platform offered for Android and iOS mobile traders	Managed accounts are not available
VPS is provided through Beeksfx to ensure that active traders remain connected to financial markets	Social trading opportunities are not provided ye
FxPro applies an NDD execution policy and model to ensure accurate and competitive pricing
Expert analysis is provided by Trading Central and there is an economic calendar that traders can use to keep an eye on economic events
Premium trader tools and a range of educational materials offered

FxPro features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FSCA, CySEC
💵 Minimum deposit from	💰 $100 / ZAR R1600
⚖️ Average spread from	👉 0.37 pips
📈 Commissions from	📈 $45 / ZAR R720 per million USD traded
💸. Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:30
🤑 Bonuses	💰 N/A
❓ Customer Support	🏪 24/7

FBS

Trading in popular products such as Forex, Crypto, and Metals may be made more transparent with FBS thanks to the ECN model’s split-second execution.

Account types, platforms, advanced tools, and easy-to-reach customer service are all evidence of this.

There is no misconception in the market that FBS is a model ECN Broker, while trading fees are average.

Combined with FBS’s excellent execution and unmatched client service, the company’s technology investments make trading a breeze and a pleasure.

Many educational materials and activities are available on the site to help you improve your trading skills and appreciate the relevance of information in markets.

FBS Pros and Cons

✔️ Pros	❌ Cons
Ultra-fast trade execution	Deposit and withdrawal fees
Low spreads and commissions

FBS features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👍 CySEC
💵 Minimum deposit from	💰 $100
⚖️ Average spread from	👉 0.0
📈 Commissions from	📈 ‎$6
💸 Deposit/Withdrawal Fees	🤷 Variable depending on method
⚖️. Maximum Leverage	⚖️. 1:3000
🤑. Bonuses	💰. 100% Deposit Bonus
❓ Customer Support	🏪. 24/5

FP Markets

FP Markets, a registered STP/ECN broker, offers traders two basic account options and an intriguing collection of features.

Both MT4 and MT5 are supported, and trading prices are in line with the industry average.

As a result, FP Markets permits all trading techniques and provides excellent instructional and market research materials that cater to traders at any level of experience.

Forex, shares, commodities, cryptocurrencies, and indices are just a few of the financial assets available for CFD trading at FP Markets.

As noted above, FP Markets provides both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the most popular trading platforms in the world.

Both desktop and browser-based versions are available from FP Markets, as well as mobile and tablet versions of both platforms.

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

✔ Pros	❌ Cons
Low trading fees	Limited account options
Ultra-fast execution
Advanced analytical tools
Low minimum deposit

IC Markets

Founded in 2007 by a group of financial professionals.

IC Markets is an Australian-based start-up that aims to fill in the gap between retail and institutional customers.

If you’re looking for an experience that is both transparent and supported by some of the greatest execution technology and low spreads available on the market, you’ll find it here.

No dealing desk and other forms of intervention between the trader and market can be found at IC Markets, which is an ECN broker.

IC Markets’ ECN trading environment allows traders to benefit from low spreads.

IC Markets Pros and Cons

✔ Pros	❌ Cons
Low forex fees	No Negative Account Balance Protection
Easy and fast account opening	Limited number of available CFDs
Free deposit and withdrawal

IC Markets features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 ASIC
💵. Minimum deposit from	💰 $200 / 3200 ZAR
⚖️ Average spread from	👉 0.0 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:500
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/7

Pepperstone

Pepperstone was founded in Australia in 2010 and has since developed tremendously.

Traders of all experience levels can benefit from the extensive range of trading options available to its more than 57,000 customers in 65 countries across the world.

Over 150 assets are available to trade, and there are three major trading platforms to choose from.

Competitive costs, excellent customer service, and a wide range of third-party platforms, including multiple choices for social copy trading, are all advantages for CFD and FX traders alike.

In the case of automated traders and swing traders, Pepperstone is a good option with low spreads and fast execution rates.

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

HotForex

With a global presence, a feature-rich website, and a wide range of trading tools, HotForex is an excellent choice for traders.

Easy-to-understand language is used and the basics of Forex and CFD trading are explained incredibly well.

It’s easy to recommend HotForex because of the wide range of trading alternatives and convenient payment options.

As a market maker, HotForex provides liquidity to its clients directly.

When news events or periods of low liquidity cause spreads to widen, they provide clients with market prices that are often more stable than the underlying price feeds.

HotForex Pros and Cons

✔️ Pros	❌ Cons
Commission-free trading offered along with a ZAR account	Fixed 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

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CySEC, FCA, DFSA, FSA, FSCA, CNMV, BaFin
💵 Minimum deposit from	💰 $5 / ZAR R80
⚖️ Average spread from	👉 0.0 pips
📈 Commissions from	📈 $3 / ZAR R48
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:1000
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

Other useful resources:

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Best brokers for swing trading in South Africa
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