11 Best Tight spread Forex Brokers for South African Traders

Many forex traders seek out brokers with the tightest spreads possible in order to maximize their profits.

Forex trading has grown significantly in recent years, resulting in fierce competition amongst brokers, who must now offer competitive trading conditions and low spreads in order to attract new clients.

In this post, we feature a comprehensive list of the best tight spread forex brokers for South African traders that also provide a safe and secure trading environment.

Khwezi Trade

khwezi trade

Khwezi Trade is a broker situated in South Africa that is regulated by the FSCA.

All new traders have the option of four live accounts, each with access to a personal account manager.

The broker has exercised caution by capping leverage at 1:400, which is a positive development.

Khwezi Trade, which uses the MT4 trading platform, offers free deposits and withdrawals on all of its accounts.

In addition, the customer care offered by Khwezi Trade is extremely good and individualized.




Khwezi Trade Pros and Cons


โœ” Pros โŒ 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


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

GO Markets

Go Markets-LogoOverview

In addition to MetaTrader 4, MetalDesk, MT4 Genesis, Trading Central, Autochartist, and Virtual Private Servers, GO Markets provides a variety of comprehensive trading features, including (VPS).

Foreign exchange, indices, precious metals, and a number of other markets are available through GO Markets.

The broker offers variable spreads on a wide range of instruments, including forex. Because the spreads are derived from more than 22 different Tier 1 and Tier 2 liquidity sources, they can be as low as 0.0 pips in some instances, depending on the situation.

Currency, index, and commodity trading, as well as gold trading in its physical form, are all attainable through GO Markets’ online trading platform. You can trade while on the go with GO Markets’ mobile trading apps, which are available for both iPhone and Android devices.

GO Markets Pros and Cons


โœ” Pros โŒ Cons
Low trading feesLimited account options
Ultra-fast execution
Advanced analytical tools
Low minimum deposit

GO Markets features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ ASIC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $1 / 16 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.0 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ None
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ 30% Deposit bonus
โ“ Customer Support๐Ÿช 24/5

FP Markets

fpmarkets-brokers-logo

FP Markets has been in business as a CFD and forex broker in Australia since 2005 when it first opened its doors.

Because of the company’s extensive history and ASIC regulation, FP Markets has been judged trustworthy.

In terms of fast trade execution and decreased requote risk, FP Markets is a fantastic broker to use.

Spreads for RAW and Standard accounts might be as low as 0.0 pips, depending on the broker’s conditions.





FP Markets 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

FP Markets 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

Alpari International

Alpari-Logo

Alpari has grown to service over 2 million customers worldwide since its establishment in 1998.

All traders can benefit from the broker’s expertise in STP/ECN trading.

Currency pairs, commodities, and CFDs are just a few of the more than 60 trading options.

In addition to a long history, Alpari offers a wide variety of markets and a high level of security against fraud.

With Alpari International, you can get some of the best spreads on some of the most common currency pairs.




Alpari International Pros and Cons


โœ” Pros โŒ Cons
The minimum deposits required are ultra-low and competitiveLimited range of assets offered
There are low commissions on forex trading
High maximum leverage offered as well as tight average spread
Provides a choice between powerful trading platforms
Offers ZAR trading standard accounts
Offers dedicated customer service

Alpari International features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FSCM
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1 600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.9 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ Yes
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… Yes
โš–๏ธ Maximum Leverageโš–๏ธ 1:400
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

FXTM

FXTM-Logo

Standard and ECN accounts are both accessible at FXTM.

FXTM allows traders to choose the account that best suits their needs.

This has been the case since the inception of FXTM’s operations in 1997.

Due to FXTMโ€™s extensive global regulation, clients can rest assured that their funds are stored safely with reputable banking institutions.

With low fixed and variable spreads offered by the broker, it is possible to trade with spreads as low as 0.1 on ECN accounts and 0.5 on Standard accounts in the forex market.



FXTM Pros and Cons


โœ” Pros โŒ 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


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC, FCA, FSC, FSCA
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $10 / 160 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.1 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ No commission on Forex
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™…. Deposit fees no, withdrawal fees yes
โš–๏ธ Maximum Leverageโš–๏ธ 1:2000
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

XM

XM-Logo

XM’s low spreads are available to all of the company’s clients, regardless of account type or transaction volume.

XM is renowned for providing a client-orientated trading environment. As a result, clients can also receive other great conditions such as high execution speed.

When it comes to XM, the best available price is secured from all of its liquidity providers and aggregated to keep spreads as low as feasible.

The brokerโ€™s liquidity providers supply the most competitive bid and ask prices in real-time.




XM Pros and Cons


โœ”๏ธ ProsโŒ Cons
Low minimum depositInactivity fee charged after 90 days on live accounts
Comprehensive educational offeringLimited product portfolio
Streamlined account opening process

XM 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

Dukascopy

dukascopy broker logo

Most major currency pairings may be traded with spreads of 0.2 pips using Dukascopy’s pricing system.

Stop-loss orders are among the many trading orders that can be quickly executed.

Every day of the week, seven days a week, the company’s customer service department is open.

Added to this, as Swiss-regulated brokers and financial institutions, customers receive an exceedingly high level of security through its various governing bodies.





Dukascopy Pros and Cons


โœ” Pros โŒ Cons
Good choice for high volume tradersHigh commission
Comprehensive analytical toolsCharges withdrawal fees
Flexible trading on advanced platformsHigh minimum deposit
Good selection of currency accountsCharges inactivity fee

Dukascopy features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FINMA
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.3 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $49.5 per $1 million traded
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… Varies depending on the method
โš–๏ธ Maximum Leverageโš–๏ธ 1:200
๐Ÿค‘ Bonuses๐Ÿ’ฐ 10% Equity Bonus
โ“ Customer Support๐Ÿช 24/5

Exness

Exness-Logo

Exness is a highly popular Forex broker that offers access to a wide range of global markets through CFDs trading.

These include currency pairings, commodities, cryptocurrencies, energy, indexes, and stocks.

On Exness trading accounts, users can access these markets with very tight spreads and benefit from additional features.

VPS hosting on a variety of popular trading platforms is also offered.




Exness Pros and Cons


โœ”๏ธ ProsโŒ 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


๐Ÿ‘‰ Featureโ„น๏ธ. Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘ CySEC
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $10 / ZAR R160
โš–๏ธ Average spread from๐Ÿ‘‰ 0.0
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ โ€Ž$0.1 / ZAR R1.60 to $3.50 / ZAR R56.00
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿคท Variable depending on method
โš–๏ธ. Maximum Leverageโš–๏ธ. 1:2000
๐Ÿค‘. Bonuses๐Ÿ’ฐ. 10% of Deposit Bonus
โ“ Customer Support๐Ÿช. 24/7

IC Markets

ICMarkets-Logo

IC Markets provides some of the tightest, most competitive industry spreads for both major and minor currency pairs,

IC Markets make assets available to trade on both the MetaTrader and cTrader platforms.

Professional traders will greatly appreciate access to raw spread conditions.






IC Markets Pros and Cons


โœ” Pros โŒ Cons
Low forex feesNo Negative Account Balance Protection
Easy and fast account openingLimited number of available CFDs
Free deposit and withdrawal

IC Markets features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ ASIC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $200 / 3200 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.0 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ None
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/7

City Index

City Index-Logo

City Index is a well-established Forex broker that has excellent regulation across numerous jurisdictions.

City Index is a better option for professional traders with its advanced selection of trading features.

City Index does offer educational resources.

Traders with City Index will benefit from superior spread conditions coupled with competitive conditions

General non-trading fees are low and transparently available.




City Index Pros and Cons


โœ” Pros โŒ Cons
Low trading feesLimited product portfolio
No fees for deposit and withdrawal
Comprehensive research tools

City Index Pros and Cons


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FCA, ASIC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.5 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $3 / 48 ZAR
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:200
๐Ÿค‘ Bonuses๐Ÿ’ฐ Deposit Bonus
โ“ Customer Support๐Ÿช 24/6

Other useful resources:

7 Best Forex trading books
Best brokers for experienced traders in South Africa
Tight Spread Forex Brokers
Best brokers for swing trading in South Africa
7 Forex trading secrets
Best Forex Trading Courses




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