10 Forex No Deposit Bonus Brokers in South Africa

Disclaimer: Khwezi Trade is looking to implement the no deposit bonus in the future.

Only a few Forex Brokers in South Africa offer no-deposit bonuses to the new clients who register for an account.

The bonus is referred to as a no-deposit bonus since you are not required to make a deposit in order to claim it. Using this method, you begin trading with a pre-funded account. The money is a promotional gift from the broker to qualified customers.

In this article, we take a closer look at 10 no-deposit bonus Forex brokers in South Africa.

We’ll also give you some tips on how to choose the best Forex broker

Make sure the Forex broker is an authorised financial services provider
Check to see if the Forex broker is regulated with the FSCA in South Africa
You must trade with an authorised ODP in SA to ensure the safety of funds and security of the trading environment
Read online reviews from other traders about their experiences with the Forex broker
Beware of Forex brokers that offer too-good-to-be-true bonuses and promotions
Compare the spreads and commissions charged by different Forex brokers before making your final choice

Khwezi Trade

Forex broker Khwezi Trade is licensed and regulated by the Financial Services Commission of South Africa (FSCA). Online trading pioneer Khwezi Trade has been granted an OTC license, making it a leader in the market in South Africa.

Khwezi Trade, a local FX and CFD broker, provides accounts denominated in Rands. All client monies are housed in South African Bank accounts that are segregated and fully secure. The broker offers tight spreads with 0% commission and daily withdrawals.

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

Tickmill

A leading STP and ECN broker operating in the UK, Cyprus, and Seychelles, Tickmill is well-regulated. Tickmill provides traders with access to over 80 different financial instruments. A no-deposit bonus is also offered to new traders to help introduce them to the world of Forex trading.

With a variety of handy trading tools, versatile account options, and competitive trading conditions, traders are guaranteed to have an edge in their trading when using Tickmill.

Tickmill Pros and Cons

✔️ Pros	❌ Cons
STP model
Advanced trading software
Competitive pricing
Well regulated
High leverage

Tickmill features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👍 FSCA
💵 Minimum deposit from	💰 $100
⚖️ Average spread from	👉 0.1 pips
📈 Commissions from	📈 2% per 100,000 traded
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:500
🤑 Bonuses	👍 $30 Welcome Bonus
❓ Customer Support	🏪 24/5

HotForex

As a result of their readiness to listen to their customers, HotForex has seen a rise in popularity among retail traders throughout the world.

From Europe, Asia, Africa, and the Middle East, the organization has won numerous honours as a result of its latest brand restructuring, and HotForex is one of the few brokers that holds multiple global regulations with reputable organisations.

HotForex Pros and Cons

✔️ Pros	❌ Cons
No deposit or withdrawal fees	High commission charges on the Zero account
Competitive spreads

HotForex features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👍 CySEC, DFSA, FCA, FSA, FSCA
💵 Minimum deposit from	💰 $5
⚖️ Average spread from	👉 0,0 pips
📈 Commissions from	📈 USD 0.03 per 1K lot.
💸 Deposit/Withdrawal Fees	🙅 None
⚖️. Maximum Leverage	⚖️. 1:1000
🤑 Bonuses	👍 100% Supercharged Bonus
❓ Customer Support	🏪 24/5

FBS

One of the world’s leading ECN and STP brokers, FBS provides its clients with a wide range of high-quality trading options. MetaTrader 4 and MetaTrader 5 are robust and well-liked trading platforms offered by FBS, with more than 75 trading instruments to choose from.

Trading tools, market analysis, technical analysis, fundamental analysis, and educational resources are all available to FBS traders. FBS is also recognized for its large choice of bonuses and promotions, including a no-deposit bonus for new customers.

Many social trading opportunities are available, as well as dynamic and adaptable account options.

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

XM

By trading volume and customer base, XM is one of the world’s most popular forex and CFD brokers. As such, XM has over 2.5 million registered traders from 196 countries.

For years, XM has built a solid reputation for providing traders of all skill levels with a range of customizable and adaptable solutions.

If you’re a newbie, you can expect a wide range of account types to choose from as well as no requotes, attractive spreads, and fast and trustworthy trade executions.

XM Pros and Cons

✔️ Pros	❌ Cons
Low minimum deposit	Inactivity fee charged after 90 days on live accounts
Comprehensive educational offering	Limited product portfolio
Streamlined account opening process

XM 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

Naga

With the recent addition of cryptocurrency trading to the platform, NAGA Trader has gained a reputation as one of the best platforms for stock trading, CFDs and forex trading.

Many various charting tools, AI-based algorithms, and other trading solutions are available through NAGA Trader to meet the demands of different traders and investors.

Trading and investing with NAGA Trader can earn you a no-deposit bonus, which will be given to your trading account as soon as you register. Traders can take advantage of the potential of the financial markets by utilizing this trading credit to trade across multiple financial instruments.

Naga Pros and Cons

✔️ Pros	❌ Cons
Investors Compensation Fund Member	Only supports 11 cryptocurrencies
Range of user-friendly platforms	Small withdrawal fee charged
Range of deposit and withdrawal methods	Web-based trading platform may not attract professional traders
Wide range of tradable instruments

Naga features

👉 Feature	ℹ️. Information
👮‍♂️ Regulation	👉 CySEC
💵 Minimum deposit from	💰 $30
⚖️. Average spread from	👉 0.0 pips
📈 Commissions from	📈 0.20% on Equities and ETFs
💸. Deposit/Withdrawal Fees	🙀 Yes
⚖️. Maximum Leverage	⚖️. 1:200
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

InstaForex

More than 300 financial products are available for trading at InstaForex, which was founded in 2007 and is authorized by the Financial Conduct Authority (FCA).

A number of prestigious industry honours have been bestowed upon InstaForex for its outstanding and comprehensive trading services.

If you open a live trading account with InstaForex, you will receive a no-deposit bonus. Non-withdrawable trading credit is granted to traders so that they can begin exploring the various financial markets without the risk of losses.

InstaForex Pros and Cons

✔️ Pros	❌ Cons
Commission-free trading offered
MetaTrader 4 and 5 offered
Variety of account types offered
Variety of financial instruments
Well-regulated by several entities
EU citizens are not restricted by the leverage, as they operate under BVI regulations.

InstaForex features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CySEC, BVI, SVGFSA
💵 Minimum deposit from	💰 $1
⚖️ Average spread from	👉 0.0 pips
📈 Commissions from	📈 0.03%
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:1000
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

AM Broker

AM Broker is a Saint Vincent and Grenadine-based offshore broker. In business since 2018, AM Broker offers a comprehensive range of tradable financial assets, including forex, commodities, indices, shares, and mutual funds.

AM Broker offers new clients a $50 (750 ZAR) no-deposit bonus to get them started in the live trading environment.

AM Broker Pros and Cons

✔️ Pros	❌ Cons
Three account types to choose from	Limited account funding options
Competitive trading conditions offered	EU and US clients are not accepted
Trading tools offered	Only one type of retail account offered
Education provided

AM Broker features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FSA SVG
💵. Minimum deposit from	💰 $1000
⚖️ Average spread from	👉 0.0 pips
📈 Commissions from	📈 0.1 USD
💸 Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:5000
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/7

SuperForex

ECN and STP broker SuperForex is situated in Belize and is regulated and authorized by the International Financial Services Commission (IFSC) in order to facilitate the trading of various financial products.

Fixed and variable spreads, commission-free trades and a large range of trading opportunities are just some of the advantages offered by SuperForex to retail investors.

In addition, SuperForex offers a no-deposit bonus, access to over 300 trading products, and access to MetaTrader 4, via which trading can be conducted smoothly.

SuperForex Pros and Cons

✔️ Pros	❌ Cons
Regulated broker	Offshore regulation
Social trading supported	Only one trading platform supported
MetaTrader 4 supported	Spreads are not the tightest in the industry
Managed accounts offered
Choice in retail trading accounts

Superforex features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 IFSC
💵 Minimum deposit from	💰 $1
⚖️ Average spread from	👉 Variable
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙀 Yes
⚖️ Maximum Leverage	⚖️ 1:1000
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/7

AvaTrade

In South Africa, AvaTrade is one of the best forex brokers with a no-deposit bonus. You can get $50 (750 ZAR) right away if you sign up with no money at all. Bonus money can be withdrawn after $10,000 (150,000 ZAR) in trades, and there are no strings attached.

In addition to CFDs, AvaTrade offers FX options trading, which is a unique feature of the platform. As a result, you may create sophisticated multi-option strategies using the broker’s unique AvaOptions platform.

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