The foreign exchange market, more popularly known as the forex market, is the world’s largest financial market in the world. Holding a net of $ 1.93 quadrillion dollars, the forex trading market is 2.5 times bigger than the global GDP. Surprising, right?
There are countless reasons that more and more people are getting fond of this trading form. For instance, it frees you from geographical barriers and provide you with ease of operating it from any part of the world (because it is a 24/7 running market). Yet, the only condition it has is, you need to shake hands with one of the local forex brokerage houses of the regional locality, You are planning to start a forex trade-in.
So, if you are based in South Africa, you may know that many forex brokers are willing to offer you their service. Nevertheless, select the best one of them. We are saying this because the forex trade market in South Africa is one of the world’s fastest-running forex markets. Thus, it would be best to have an efficient broker firm to penetrate the market more quickly. So what are the best forex brokers South Africa?
Stay tuned to find the answer.
4 Best forex brokers, South Africa
As we have mentioned earlier, you will find a wide variety of forex traders within the territory of South Africa. Nevertheless, we are listing some best of them below.
Established in 2014, Tickmill is one famous South African forex brokerage house. The firm has got its regulatory license from the top-tier regulators, i.e., FSCA (Financial Sector and Conduct Authority), FCA( Financial Conduct Authority), CySEC ( Cyprus). Thus Tickmill can be considered as safe to trade with.
It is another regulated forex brokerage firm that holds a credible position in the forex market. The firm offers ZAR base currency accounts. Also, it charges no sum on withdrawal and deposit and grants a 100% deposit bonus for new accounts.
The best part about HotForex is its customer support staff which posses very low hold time on live chats. However, wire transfer is available at moderately higher fees.
FXTM came into existence in 2011 and got its regulatory license by FSCA (South Africa). The firm is known for providing low spread with Advantage Account. A wide range of CFD instruments is available along with CFD’S on 100+ stock incidies.
Last but not least, Exness brokers Is next on the list. The firm has a very competitive spread rate, even on their standard account (which is excellent). Furthermore, it offers ZAR base currency accounts and holds 0 fees on deposit and withdrawal.
Forex trade has continued to emerge as one of the fastest-growing firms from the past few decades. Nevertheless, getting yourself collaborated with one of the best forex brokerage houses is extremely important, especially in South Africa, for many reasons.
A good forex brokerage house not only legalizes you in the forex world but also assists you whenever you are in any critical situation. We have listed some best forex brokers, south Africa for your aid. Thus have a look, and decide accordingly.