Why I recommend IronFX More Than Any Other Online South African Broker And How You Can Start Trading With Them Easily
Trade With The Global Leader In Online Trading
IronFX is one of the most regulated brokers and their Research & Analysis team get’s global recognition by the most well respected Financial media of the world. There daily market analysis is 100% FREE for clients. Being a globally trusted brand, IronFX offers instant execution with no slippage or delay. They offer the best spreads from 0 pips, with your 1 account you can trade 15 platforms and they offer over 200 tradable instruments. IronFX’s achievements has been recognized by multiple international awarding bodies. Probably the best reason for us South African’s is that they have an office in Sandton and they’re in the process of getting a license for the JSE prices. And finally, copy trading, a way to earn a passive income while someone trades your account. Fill in the form below and I’ll send you more info via email.
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I’m an IB (Introducing Broker) and I earn a small commission from your trades. It doesn’t cost you anything more and it motivates me to make do my best to help you’re trade profitably and be consistently successful
My Copy Trader Account by QLC
Other Forex Brokers I’ve Come Across And The Ones I Like…
Other than choosing IronFx for my own trading purposes (and for my IB business to choose a recognised brand for my site regulated by the FSB) I also spent some time checking out some of the other brokers operating from here or who accept South African traders.
But first this is what you need to know.
One of the first and probably most important things you need to become a successful when forex trading is to find a broker that you trust. A company who can give you a stable platform, pay you out when you ask and is not out to simply make a quick buck from you. Worse still are those brokers that are simply scammers and out to get your money away from you, regardless of the consequences.
With the tight regulation in the financial services industry any broker worth their salt must be regulated to operate from the country that you’re trading from and your local financial services regulator will be the first place you should look to see if a broker you’re considering is worth investigating further.
Fortunately there are places you can find out about Forex scams and if the broker’s you’re with are reliable. Here’s also a comprehensive article to read first about the pitfalls you need to look out for before you sign up with a random broker that teaches you a hard lesson.
The first South African based forex brokerage broke my heart so badly with their lack of attention, to me as an IB and to my clients that I sent, and seemed to just be interested in money that I happily moved my live trading account to an overseas brokerage (my mentor recommended anyway, so it fit in nicely with the strategy I chose to learn and follow)
Rather that gripe about the horrible service I got (or use their name) let me tell you about the brokers that I’m using at the moment.
Axitrader is the broker I trade with
They’re called AxiTrader and in the last 6 months that I’ve been trading with them they’ve been great and only messed up once with the price feed to their server. It was all fixed very quickly though. I’m yet to withdraw any money from them (so I can’t tell you about this part of their service yet.) New legislation has made it a bit harder to open an account at Axitrader, you now need two forms of identity (like an ID document in addition to a passport) to open an account but regardless of the admin issues, they’re a terrific company though the operate with slippage and aren’t the best to choose for certain types of traders.
A reliable broker that’s trusted by many traders
Open An Account with Blacktone FuturesBecause local is lekker
The South African Broker that’s recently got my attention
A new broker that got in touch with me is Blackstone Futures, I had a conversation with the CEO. They offer a promising alternative to the other company here in SA, I’m beginning to create a relationship with them and look forward to seeing how they develop. I’ll update this post when they settle more and star offering the MT4 platform, which I don’t think they do at present.
Another South African Broker that’s making waves
CMTrading is a new broker that’s operating from South Africa. They’re newly operating in this country and have an FSB license to prove it. With a $100 no deposit and a welcome bonus up to $2000, they also offer local deposits in South African Rands to fund your account to make it easier for us Saffers to get trading. They also offer a sub-affiliate program so that you can make money passively from referring other affiliate marketers to get them new traders.
Trade for Free with XM
XM is offering a R347, no deposit bonus to try out their services. Many brokers are now offering this risk free way to give you a taste of their services. You probably won’t get rich from this free account, you’ll need a decent size account of at least $500 if you want to start making some real money but if you haven’t ever traded before or you want to see what their service is like, sign up with XM. Its also a great way to try out their live server for free, which is normally different to a demo account server, before you decide to commit. They do have some interesting loyalty bonuses that sound like something to investigate. I haven’t yet, but if you trade with them and take advantage of these, please let me know about how they work.
AVATrade Offers Bitcoin Trading
One of the few brokers that offer Bitcoin trading, AVATrade also makes it easier for South African traders to enter the market especially with the funding of your account using PayPal makes them one of the more convenient broker to deal with. Once with AxiTrader though (especially with the price difference in their charting platform) I didn’t like trading with AVATrader that much anymore.
Social Trading With eToro
eToro is one of the first companies to offer social trading. What’s that? Its like combining a trading platform (like MT4) and Facebook. It allows novice traders to follow the trades of other more professional or traders with more experience and allows you to profit without knowing how to trade. The first trading account I ever owned was an eToro account and even though I don’t trade it anymore, it is still there and I’m sure that one day I’ll return to it. So even though it may not be for me (for now) it may just be for you. Click here to sign up for an eToro account.
These are the brokers that I’ve tried out, I’ll add in some more as I get to try them out and see how they operate. I believe more will be coming into the local market now as the number of South African’s that are Forex Trading is increasing every day. How’s your trading going? Please take care with the brokers you eventually do choose, if you would like some help, please contact me, I’d be happy to help you. Thanks for reading, Haroun Kola PS: Here’s some of the latest posts from my blog
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