9 Best Forex Brokers for Experienced Traders in South Africa

Experienced or advanced Forex traders seek to use the current market conditions to their advantage using more complex trading strategies.

Position trading, scalping, and hedging are some of the techniques used by advanced traders. Not all brokers support these more complicated techniques.

In this article we provide the best Forex traders for advanced traders in South Africa that offer excellent features and trading conditions.

Khwezi Trade

By operating as an OTC broker, Khwezi Trade is able to deliver speedy and faultless execution of its clients’ transactions in the financial markets.

Competitive spreads, high leverage ratios, and low commissions are just a few of the advantages that traders may take advantage of while trading with this firm.

For investors, Khwezi Trade is a desirable option because of its trader-friendly features, including quick order execution and a diverse selection of account configuration options.

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

Abshire Smith

One of the UK’s leading forex brokers, Abshire Smith, offers a wide range of derivative products on a variety of platforms.

The company was created in 2011 by a group of specialists in the market.

With a wide range of trading options and a wide range of trading platforms and accounts to choose from.

Abshire Smith adheres strictly to regulatory requirements.

In addition to competitive pricing, the broker provides clients with a variety of portfolios to choose from.

Abshire Smith Pros and Cons

✔ Pros	❌ Cons
Well regulated	High minimum deposit
Multiple advanced trading platforms
STP broker model with deep liquidity

Abshire Smith features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FCA
💵. Minimum deposit from	💰 $500 / 8000 ZAR
⚖️ Average spread from	👉 0.7 pips
📈 Commissions from	📈 $18 / 288 ZAR
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:400
🤑 Bonuses	💰 No
❓ Customer Support	🏪 24/5

Alvexo

As a subsidiary of VPR Safe Financial Group Limited.

Alvexo was launched in 2014.

A CySEC-regulated broker, combines technology, education, and service to improve trading strategy and vital tools to enable traders to make fast and informed trading decisions.

Alvexo’s STP/NDD brokerage model allows consumers to access different liquidity markets quickly and effectively, reducing the likelihood of conflicts of interest for Alvexo

Alvexo only functions as a facilitator rather than the market maker.

Alvexo Pros and Cons

✔ Pros	❌ Cons
Well regulated	High minimum deposit
Segregated client funds
Commission free trading

Alvexo features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CySEC, FCA
💵. Minimum deposit from	💰 $500 / 8000 ZAR
⚖️ Average spread from	👉 3.3 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:300
🤑 Bonuses	💰 No
❓ Customer Support	🏪 24/5

Grand Capital

There are more than 750 000 clients on Grand Capital’s platform from around the world.

Over 500 financial assets are available to traders, such as currency pairs, international stock CFDs, indexes, and metals, amongst others.

In this regard, Grand Capital has developed a great investment environment, including the possibility to mimic the trades of successful traders via the LAMM service.

Grand Capital also offers the capacity to build investment portfolios containing more than 500 financial instruments.

A wide range of products is available on cutting-edge trading platforms at Grand Capital.

Grand Capital is an ideal place to conduct advanced trading activities.

The low minimum deposit, attractive spreads, and inexpensive commissions make this an ideal trading environment.

Grand Capital Pros and Cons

✔ Pros	❌ Cons
High amount of tradable assets	Limited educational resources
Competitive fees
Advanced trading platforms

Grand Capital features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FinaCom
💵. Minimum deposit from	💰 $10 / 160 ZAR
⚖️ Average spread from	👉 0.4 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:2000
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

City Index

Financial regulators such as the UK’s Financial Conduct Authority (FCA) regulate City Index, a top-tier CFD and forex broker.

City Index is known for its inexpensive forex and stock CFD costs, a simple account opening process, and high-quality research tools, it is one of the most popular brokers.

City Index does not require a minimum balance, no withdrawal fee, and an inactivity fee that only takes effect after one year.

This means that traders can give City Index a try without fear of losing money.

Access to more than 12 000 global marketplaces.

City Index is a market-leading service based on fair and transparent pricing and full customer support, which are available to clients.

City Index Pros and Cons

✔ Pros	❌ Cons
Low trading fees	Limited product portfolio
No fees for deposit and withdrawal
Comprehensive research tools

City Index features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FCA, ASIC
💵. Minimum deposit from	💰 $100 / 1600 ZAR
⚖️ Average spread from	👉 0.5 pips
📈 Commissions from	📈 $3 / 48 ZAR
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:200
🤑 Bonuses	💰 Deposit Bonus
❓ Customer Support	🏪 24/6

eToro

eToro was founded in 2007.

As a pioneer in social investing, eToro gained notoriety for its social trading platform, which enables users to mimic the moves of their fellow investors.

Forex, stock and commodity CFD trading are offered by the ASIC-, FCA- and CySEC-regulated eToro CFD broker.

eToro is the largest social trading broker in the industry because it was the first to develop such a system.

One of the most popular social trading systems on the market is supported by its bespoke web trader platform, which includes complete support for eToro’s CopyTrader and CopyPortfolios systems.

Forex, ETFs, stocks, indices, and commodities are just a few of the financial assets available for CFD trading on eToro.

eToro’s Bitcoin offerings are superior to those of rival brokers, but the company’s other products are on par.

eToro Pros and Cons

✔ Pros	❌ Cons
Advanced copy trading software	High withdrawal fees
Low minimum deposit	High trading fees for forex
No deposit fees	Only one base currency available for accounts

eToro features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CySEC, FCA, ASIC
💵. Minimum deposit from	💰 $50 / 800 ZAR
⚖️ Average spread from	👉 0.75 pips
📈 Commissions from	📈 No commission on stocks and ETFs
💸 Deposit/Withdrawal Fees	🙅 $5 / 80 ZAR
⚖️ Maximum Leverage	⚖️ 1:30
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

Vantage FX

A wide range of technical indicators and minimal trading expenses will appeal to Vantage FX’s audience of traders.

Vantage FX is an STP/ECN broker, that offers three accounts with minimal deposits tied to tighter spreads and cheaper trading expenses.

There is a $200 minimum deposit to open a commission-free Standard Account.

Spreads on the EUR/USD start at just 1.0 pip.

Its two ECN accounts, which give raw spread pricing in exchange for a modest commission, are its most remarkable feature.

There are comprehensive analytical features available, along with excellent customer service and a free MT4 demo account.

Vantage FX Pros and Cons

✔ Pros	❌ Cons
Well-regulated broker with authorization through several regulatory entities	There is a high minimum initial deposit required to start trading
Automated trading is supported
Offers a wide range of assets
Offers dedicated customer services
Offers a spread-free ECN retail trading account
Offers leverage up to 1:500

Vantage features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 ASIC, FCA, CIMA, SIBL
💵. Minimum deposit from	💰 $200 / 3200 ZAR
⚖️ Average spread from	👉 1.22 pips
📈 Commissions from	📈 $2 / 32 ZAR per round turn
💸 Deposit/Withdrawal Fees	🙅. None
⚖️ Maximum Leverage	⚖️ 1:500
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

Darwinex

London-based Darwinex is asset management, technology supplier, and a broker.

With the exception of the United States, it provides a wide range of financial products and fund management services in over 80 countries.

Darwinex helps traders get the most of their money and improve their trading abilities.

Darwinex has a proven track record of providing first-rate client service, a large range of market instruments, and cutting-edge software.

Darwinex provides in-depth research and is open and honest about the commissions and fees it charges.

Darwinex provides all the tools users need to have a successful trading experience, including real-time charting, one-click trading, technical indicators, and financial news.

Darwinex Pros and Cons

✔ Pros	❌ Cons
Competitive spreads	You have to sign up either as a trader or an investor
Three base currencies available	20% performance fee
	Complicated account opening process

Darwinex features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FCA
💵. Minimum deposit from	💰 $500 / 8000 ZAR
⚖️ Average spread from	👉 0.0 pips
📈 Commissions from	📈 3.0 USD per lot round-trip
💸 Deposit/Withdrawal Fees	🙅 0.5% for Skrill
⚖️ Maximum Leverage	⚖️ 1:30
🤑 Bonuses	💰 No
❓ Customer Support	🏪 24/5

Swissquote

Traders with some expertise searching for powerful trading tools, a wide range of tradable assets, and adaptable trading conditions on the MetaTrader platforms might consider Swissquote.

Swissquote is a well-respected broker.

One of Switzerland’s largest banking groups and subject to stricter regulations than other brokers.

Swissquote provides a wide range of non-brokerage financial services in a secure trading environment.

If you’re looking for a wide range of assets to trade on (indices and commodities among them), as well as currency pairs (over 130), this is one of the best possibilities out there.

Swissquote Pros and Cons

✔ Pros	❌ Cons
Comprehensive product portfolio	High trading fees
Solid reputation

Swissquote features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FCA
💵. Minimum deposit from	💰 None for standard account
⚖️ Average spread from	👉 1.6 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅 $10 / 160 ZAR
⚖️ Maximum Leverage	⚖️ 1:400
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 8/5

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