One of the most important relationship you have in forex trading will be with your broker.
Most of the forex brokers listed beloware great for beginners traders & some only require a small minimum deposit to start trading.
This is ideal for those traders who wish to practice learning trading. It takes a long time to master and perfect the art and its better to try with a small account, which you can afford to lose then with a large trading account.
Others offer free training and regular webinars to help with your education and to understand what the market is doing at the moment.
More advanced traders looking for ECN, STP or NND brokers can find them here too. Their offers include narrow spreads, free Forex VPS services to qualifying traders or trading via an API for lightning fast connection to the trading servers.
Some of the best forex brokers operating in South Africa:
- iFXBrokers - A regulated broker using the LMAX technology and liquidity. They have an innovative IB system, perfect for those with large networks and they pay out daily.
- Blackstone Futures - Johannesburg based STP broker, I've a copy trading account with them that you may be interested in.
- FxPrimus - Recently received their FSCA license, opened an office in Sandton City and now have an FNB account for faster deposits and withdrawals for South African traders.
- AVATrade - New Offices in Sandton, a global broker with a local presence.
- Markets.com - Newly regulated in South Africa. A European powerhouse.
- GT247 - Moved to Auckland Park recently. One of the few that offer CFDs on JSE stocks (a truly SA broker)
- Khwezi Trade - Cape Town based
- CM Trading - Claim to be Africa's biggest brokers
- JP Markets - Local lad opens his own brokerage, offices mushrooming up over the land. I'm interviewing for a job there., wish me luck).
- AxiTrader - The first broker I started with.
- FX Giants - Bitcoin denominated accounts, not many other brokers offer this.
- eToro - One of the biggest and best social trading network so its not really a broker. Going places.
- Dukascopy - Swiss Based broker that offers STP trading
- XM - People who trade with XM love them
- Mt. Cook - Boutique broker from Australia with an FSB regulation.
- Blackwell Global - I'm about to get a test account, so I'll know more soon.
- Swiss Markets - Got some interesting STP account types with various spreads and commissions as you grow.
- BDSwiss - Forex & Binary Options and trade on weekends too.
- Hot Forex - Opened an office in SA recently, Making waves.
- Forex Time - What a name, they are FSB regulated though.
- JustForex - Just do it, if you must.
- IronFx - Still here, even though some don't like them much