10 Best MT5 brokers in South Africa

MetaTrader 5 (MT5) is the updated version of the MetaTrader 4 trading platform from MetaQuotes, which is the industry standard. MT5 is also the first platform to incorporate multi-asset capability, which allows traders to trade stocks, futures, and forex.

Despite the fact that it is not yet as widely used as Mt4, MT5 is gaining support from an increasing number of brokers, providing investors with a greater variety of trading platform options.

Here, we list the 10 best MT5 brokers which offer sound regulation and excellent trading conditions.

Khwezi Trade

Khwezi Trade is a licenced ODP offering the MT5 trading platform, which is great for traders who want fast trade execution, so you can get in and out of trades quickly. Khwezi Trade also offers a variety of other features that make it a great choice for MT5 traders, including deposit ZAR accounts and customer-focused approach to assisting traders.

Pros and Cons


๐Ÿ‘‰ ProsโŒ Cons
๐Ÿ’ต ZAR Accounts are availableโŒ Individual stock trading not possible
๐Ÿ‘ฎโ€โ™‚๏ธ FSCA regulations apply to this South African-based company
๐Ÿงฐ Provides a wide variety of trading tools
๐Ÿ’ฐTrading costs are reasonable
๐Ÿ•ต๐Ÿป Ensures compliance with OTC regulations
โš–๏ธ A vast variety of trading options are available

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘ FSCA
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ ZAR500
โš–๏ธ Average spread from๐Ÿ‘‰ 0,6 pips
๐Ÿ“ˆ Commissions fromN/A
๐Ÿ’ธ Deposit/Withdrawal FeesN/A
โš–๏ธ Maximum Leverageโš–๏ธ. 1:400
๐Ÿค‘ Bonuses๐Ÿ‘ 30%
โ“ Customer Support๐Ÿช. 24/5

FXTM

FXTM provides clients with the option to open either a standard or an ECN account.

FXTM’s Cent Account requires a minimum deposit of fifty dollars (USD) and has spreads that begin at one and a half pip, but the company also provides two market execution accounts on MT5 that have spreads that begin at zero pip and leverage that may go as high as one thousand to one.

The Advantage Account has the lowest commission of any account type at just 4 USD round turn and has the tightest spreads of any account type. The minimum deposit for this account is 500 USD.

Pros and Cons


โœ” Pros โŒ Cons
Superb customer serviceInactivity and withdrawal fees
High maximum leverageLimited product portfolio
Great educational tools

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC, FCA, FSC, FSCA
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100
โš–๏ธ Average spread from๐Ÿ‘‰ 0.9 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ No commission on Forex
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… $3
โš–๏ธ Maximum Leverageโš–๏ธ 1:500 on average
๐Ÿค‘ Bonuses๐Ÿ’ฐ $300 Trading Bonus
โ“ Customer Support๐Ÿช 24/5

BDSwiss

In addition to Forex pairings, stocks, commodities, shares, indices, ETFs, and cryptocurrencies, BDSwiss also allows MT5 trading with no limits on trading strategy. B

BDSwiss provides traders of all skill levels with access to cutting-edge market information and education via its suite of MT5 trading tools. Experts from BDSwiss’ many fields provide analysis in the form of daily webinars, market insights, weekly outlook, and briefings.

Pros and Cons


โœ”๏ธ ProsโŒ Cons
MetaTrader 4 and 5 availableRelatively high minimum deposit
Multiple regulations

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘ CySEC, FSC, NFA
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $200
โš–๏ธ Average spread from๐Ÿ‘‰ 1.3 pips
๐Ÿ“ˆ Commissions from๐Ÿš€ 0.1% for stock and CFDs
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ’ถ 10 EUR from 20 EUR upwards
โš–๏ธ Maximum Leverageโš–๏ธ. 1:500
๐Ÿค‘ Bonuses๐Ÿ‘ No
โ“ Customer Support๐Ÿช. 24/5

FP Markets

With two MetaTrader 5 accounts and low spreads across Forex, stocks, commodities, indices, and cryptocurrency pairs, FP Markets is a top-tier broker that is regulated by the Australian Securities and Investments Commission (ASIC).

In addition to the RAW Account, FP Markets also offer a normal commission-free account with spreads beginning at 0 pips for a round turn commission per lot of USD 6. Both accounts require an opening balance of at least 100 AUD.

Pros and Cons


โœ” Pros โŒ Cons
Low forex feesHigh stock CFD Fees
Streamlined and fast account opening processLimited product portfolio
Fast processing for deposits and withdrawals

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ Australian ASIC, Cypriot CySEC, SCB
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.5 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $55 monthly commission for IRESS Trader users only
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ $30 / 480 ZAR welcome bonus
โ“ Customer Support๐Ÿช 24/7

Pepperstone

Pepperstone is an Australian ECN broker that offers two basic accounts, is regulated by the Australian Securities and Investments Commission (ASIC), and offers full MetaTrader 5 (MT5) functionality, including hedging and share trading.

Scalpers and MT5 clients who use the platform’s built-in expert advisors will appreciate the speed with which most orders are processed.

Pepperstone’s Smart Trader Tools for MT5 is a collection of 28 expert advisers and indicators designed to facilitate better trade management and execution.

In addition, Autochartist, a robust pattern recognition plugin that automatically detects trading opportunities based on price movements, will be made available to all MT5 customers.

Pros and Cons


โœ” Pros โŒ Cons
Low forex and equity index CFDsOnly forex, CFDs and cryptos available
No deposit fee
Negative balance protection

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FCA, ASIC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ AUD200
โš–๏ธ Average spread from๐Ÿ‘‰ 0.4 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ โ€Ž$3.76 commission per lot per trade
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ None
โ“ Customer Support๐Ÿช 24/5

FxPro

FxPro is a reputable FCA-regulated broker that provides NDD execution on MetaTrader 5, MetaTrader 4, cTrader, and its own web-based trading platform.

Spreads on 70+ currency pairs, indexes, energy, and precious metals are competitive, and the minimum beginning deposit for an MT5 account is just $100.

The vast majority of trades are completed in within 10 m

s, and only 9% of orders have negative slippage. If you’re interested in using MT5’s algorithmic trading capabilities across a variety of assets, these execution data will come in very handy.

Pros and Cons


โœ” Pros โŒ Cons
Wide selection of market instruments
Client funds stored in segregated accounts
Low trading fees

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FCA, CySEC, FSCA
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $500
โš–๏ธ Average spread from๐Ÿ‘‰ 1.7 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $45 per million USD traded
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… 1.6% for debit and credit card
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ None
โ“ Customer Support๐Ÿช 24/5

XM

XM is a reputable market maker that supports the MT4 and MT5 platforms and has a large variety of account types, cheap minimum deposits, fast order execution, and a respectable selection of underlying assets.

XM’s Zero Account has no commission per lot and spreads as low as 0 pips. MT5 allows for hedging, scalping, and algorithmic trading.

If you’re interested in trading more than simply Forex, check out XM’s MT5 trial account, which comes with a virtual balance of $100,000 USD. Over a thousand different assets, including stocks, stock indexes, precious metals, and energy, will be available to traders.

Pros and Cons


โœ” Pros โŒ Cons
Low CFD and withdrawal feesAverage forex fees
Great educational toolsInactivity fees

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ IFSC, ASIC, CySEC, FCA and DFSA
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $5
โš–๏ธ Average spread from๐Ÿ‘‰ 0.1 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $3.5 commission per $100 000 traded
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:30
๐Ÿค‘ Bonuses๐Ÿ’ฐ $30 Trading Bonus
โ“ Customer Support๐Ÿช 24/5

AvaTrade

AvaTrade is a world-famous market maker that is licensed by the Financial Sector Conduct Authority (FSCA) and offers outstanding commission-free trading conditions on the MT5 platform.

Spreads on the EUR/USD pair start as low as 0.7 pips using AvaTrade’s MT5 trading platform, far less than with any other non-commission account. Forex, commodities, equities, indices, cryptocurrencies, bonds, and ETFs are all available to MT5 traders on AvaTrade.

Pros and Cons


โœ” PROSโŒ CONS
Broad range of tradable instrumentsHigh EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

Features

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘ Central Bank of Ireland, MiFID, ASiC, BVI
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $100
โš–๏ธ Average spread from๐Ÿ‘‰ 0.9 pips
๐Ÿ“ˆCommissions fromNo commission on Forex
๐Ÿ’ธDeposit/Withdrawal FeesNone
โš–๏ธ Maximum Leverage1:400
๐Ÿค‘ BonusesFirst Deposit Bonus
โ“ Customer Support๐Ÿช 24/5 โ€“ multilingual

Exness

Exness is a registered broker that provides low-cost trading with its MT5 Standard Account, as well as tight spreads and low minimum deposits with its three MT5 Professional Accounts.

A single dollar is all that’s needed to open an MT5 Standard Account with Exness, which gives you access to trading in all of their assets, including cryptocurrencies and indices.

Pros and Cons


โœ” Pros โŒ Cons
Well-regulated
Tight spreads
Over 130 currency pairs

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC, FCA
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $1
โš–๏ธ Average spread from๐Ÿ‘‰ 1.3 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ 3 USD and 10 USD per 1 lot for CFDs
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:2000
๐Ÿค‘ Bonuses๐Ÿ’ฐ Standard +10% Bonus Programme

HF Markets

Three of HFM’s six account types have No-Dealing Desk STP execution, and the broker is regulated by South Africa’s Financial Sector Conduct Authority (FSCA) since 2012.

There is a very low minimum deposit requirement of only 70 ZAR or 5 USD for the MT5 Micro Account, and the spreads on the major Forex pairings are only 1 pip.

HFM’s MT5 Zero Spread Account provides traders with access to spreads as low as 0 pips and a round turn commission of 80 ZAR ($2.50) on major Forex pairs.

Pros and Cons


โœ”๏ธ ProsโŒ Cons
Award-winning brokerOffshore broker
Well regulated
Low minimum deposit

Features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘ CySEC, DFSA, FCA, FSA, FSCA
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $5
โš–๏ธ Average spread from๐Ÿ‘‰ 0.0 pips
๐Ÿ“ˆ Commissions from๐Ÿš€ USD 0.03 per 1K lot.
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ’ถ None
โš–๏ธ Maximum Leverageโš–๏ธ. 1:1000
๐Ÿค‘ Bonuses๐Ÿ‘ 100% Supercharged Bonus
โ“ Customer Support๐Ÿช. 24/5

Other Resources

10 Best FSCA Regulated Forex Brokers

10 Best Nasdaq 100 Forex Brokers

10 Best Forex Brokers for Swing Trading

10 Best Same-day Withdrawal Forex Brokers

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