This is a complete listing of The 10 Best Forex Brokers and Trading Platforms for Intermediate Forex Traders in South Africa. We have researched and tested several third-party trading platforms and those offered by reputable Forex and CFD Brokers to find the 10 best listed.
In this in-depth write-up, you will learn:
- Top 10 Forex Trading Platforms for Intermediate Traders.
- An Intermediate Trading Platform – Explained.
- What are the benefits of trading platforms?
- Best Forex Brokers in South Africa.
- Conclusion
And much, much more!
Top Forex Brokers and Trading Platforms for Intermediate Forex Traders
| 🔎Broker | 👉Open Account | 💰Minimum Deposit | 📊Spreads | 📈Leverage |
| 🥇AvaTrade | 👉Open Account | $100 | From 0.9 pips (Forex) | Up to 1:400 (Professional) |
| 🥈Exness | 👉Open Account | $1 | From 0.0 pips (Raw Spread) | Up to 1:2000+ |
| 🥉HFM | 👉Open Account | $5 | From 0.1 pips (Zero Spread Account) | Up to 1:1000 |
| 🥇Tickmill | 👉Open Account | $100 | From 0.0 pips (Pro Account) | Up to 1:500 |
| 🥈FXPro | 👉Open Account | $100 | 0.0 pips | Up to 1:500 |
| 🥉OctaFX | 👉Open Account | $100 | From 0.0 pips (ECN Account) | Up to 1:500 |
| 🥇XM | 👉Open Account | $5 | 0 pips | Up to 1:30 |
| 🥈FXTM | 👉Open Account | $1 | From 0.0 pips (ECN Account) | Up to 1:3000 |
| 🥉IC Markets | 👉Open Account | $200 | From 0.0 pips (Raw Spread Account) | Up to 1:500 |
| 🥇Plus500 | 👉Open Account (CFD Service. Your capital is at risk) | $100 | From 0.8 pips | Up to 1:30 |
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Intermediate Traders – A Definition
Intermediate in the Forex Market refers to a Forex Trader who has learned how to trade in the Financial Markets through demo or mini accounts, for instance, and would like to take the next steps in becoming a professional in the field.
10 Best Forex Brokers and Trading Platforms for Intermediate Traders December (2025)
- ☑️AvaTrade – Best Overall Trading Broker.
- ☑️Exness – Offer Best Trading Conditions.
- ☑️HFM – Excellent Online Trading Experience.
- ☑️Tickmill – Best Trading Platform for Beginners.
- ☑️FXPro – Offering multiple platform options.
- ☑️Octa – Robust security measures.
- ☑️XM – Overseen by several authorities.
- ☑️FXTM – High Forex Trust Score.
- ☑️IC Markets – Award-Winning Social Trading Broker.
- ☑️Plus500 – Is considered low-risk.
1. AvaTrade
AvaTrade is based in Ireland and was founded in 2006 to empower people to trade confidently. The company’s administrative headquarters are in Dublin, with sales centers in Dublin, Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa. AvaTrade is regulated by various financial authorities worldwide, such as the Central Bank of Ireland, ASIC, and the FSCA. This solid regulatory system guarantees high trust and security for its customers.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 1250 instruments, including forex, cryptocurrencies, stocks, commodities, and indices | Standard, AvaTradeGO, AvaOptions, AvaTrade Islamic | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, Trustly, Sofort, iDeal, Giropay, EPS, POLi, BPay |
| 🔣Platforms | Desktop, tablet, mobile, and web-based trading with Metatrader 5, MetaTrader 4, and the AvaTrade app | Standard, AvaTradeGO, AvaOptions, AvaTrade Islamic | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, Trustly, Sofort, iDeal, Giropay, EPS, POLi, BPay |
| 💱Automated Trading | A range of automated trading platforms and EA compatibility | Standard, AvaTradeGO, AvaOptions, AvaTrade Islamic | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, Trustly, Sofort, iDeal, Giropay, EPS, POLi, BPay |
| 💻Account Types | Fixed & competitive spread accounts | Standard, AvaTradeGO, AvaOptions, AvaTrade Islamic | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, Trustly, Sofort, iDeal, Giropay, EPS, POLi, BPay |
| 🛡️Security | Client funds held in segregated accounts, regulated broker in multiple jurisdictions | Standard, AvaTradeGO, AvaOptions, AvaTrade Islamic | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, Trustly, Sofort, iDeal, Giropay, EPS, POLi, BPay |
| 🚀Promotions | New client bonus of up to $10,000, 21-day demo trading account, AvaTrade Premium Membership, AvaSocial | Standard, AvaTradeGO, AvaOptions, AvaTrade Islamic | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, Trustly, Sofort, iDeal, Giropay, EPS, POLi, BPay |
| 📚Tools & Resources | AvaTrade Calculator, Economic calendar, Stocks Earnings Releases, CFD Rollover, Holiday trading hours, Islamic Trading, AvaTrade Professional, AvaTrade Premium benefits | Standard, AvaTradeGO, AvaOptions, AvaTrade Islamic | Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller, Trustly, Sofort, iDeal, Giropay, EPS, POLi, BPay |
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA
Trading Platform
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Features
| Category | Details |
| Company Information | |
| 🏷️Company Name | AvaTrade |
| 📍Headquarters Location | Dublin, Ireland |
| 📅Year Established | 2006 |
| 👤CEO/Founder | Dáire Ferguson |
| 🌐Global Offices | Over 15 offices worldwide, including Japan, Australia, and South Africa |
| 🔖Licensing Body | Central Bank of Ireland, ASIC, FSA (Japan), FSCA (South Africa), ADGM (UAE) |
| 👥Group Companies | Ava Capital Markets, AvaTrade EU, AvaTrade Japan, AvaTrade Middle East |
| 🏛️Business Model | Market Maker |
| 🌍Operational Languages | Over 20 languages, including English, Spanish, French, and Arabic |
| 🏆Awards & Recognitions | Best Broker 2023, Best Trading App 2022, among others |
| Regulation and Security | |
| 🛡️Regulation | CBI, BVI FSC, ASIC, FSCA, ADGM, FRSA, ISA |
| ✔️Compliance Standards | Adheres to MiFID II, ASIC regulations, and other regional compliance standards |
| 💼Client Fund Segregation | Yes, client funds are held in segregated accounts |
| 🪫Negative balance protection | Yes, ensuring traders cannot lose more than their account balance |
| 🕵️♂️Financial Conduct Oversight | Regular audits and monitoring by respective regulatory bodies |
| 💰Insurance Coverage | Professional indemnity insurance in line with regulatory requirements |
| 📋AML & KYC Policy | Strict Anti-Money Laundering (AML) and Know Your Customer (KYC) policies |
| 🔒Security of Trading Platform | Advanced SSL encryption, two-factor authentication (2FA), and secure servers |
| 🛡️Investor Compensation Fund | Member of investor compensation schemes depending on regional regulations |
| 🖥️Cybersecurity Measures | Robust firewalls, regular penetration testing, and secure backups |
| Account Types and Features | |
| ⚙️Standard Account | Yes, available with competitive features |
| 📊ECN Account | No, AvaTrade does not offer an ECN account |
| 🌙Islamic Account | Yes, swap-free accounts are available for Muslim traders |
| 🎮Demo Account | Yes, a free demo account is available with virtual funds |
| 👑VIP Account | Yes, available for high-net-worth traders with enhanced features |
| 💵Minimum Deposit | $100 / R1806 |
| 💱Base Currencies | USD, EUR, GBP, AUD, and others depending on the region |
| ⚖️Leverage Options | Up to 1:400 (varies based on region and asset class) |
| 📈Spreads (Fixed/Variable) | Fixed spreads EUR/USD starts at 0.9 pips |
| 🔄Swap-Free Accounts | Yes, available for Islamic accounts |
| 🌐Account Currency Conversion | Yes, account currencies can be converted during setup |
| 🚨Margin Call Level | 50% |
| ❌Stop-Out Level | 20% |
| 🔄Hedging Allowed | Yes |
| ⚡Scalping Allowed | No, scalping is not permitted under AvaTrade’s policies |
| 🔁Copy Trading Support | Yes, through integration with ZuluTrade and DupliTrade |
| 👥Social Trading Features | Yes, via third-party platforms |
| 💼Managed Accounts | No, AvaTrade does not offer managed accounts |
| Trading Conditions | |
| 🔍Average Spreads | EUR/USD starts from 0.9 pips (fixed spreads) |
| 💲Commissions per Trade | None, spreads only |
| 🔢Leverage Range | Up to 1:400 |
| 🚀Execution Speed | Ultra-fast execution |
| 📊Order Execution Type | Market execution |
| 🔄Slippage Policy | Minimal slippage, detailed in terms |
| 📏Margin requirements | Varies by asset class |
| ⏹️Stop-Loss and Take-Profit Orders | Yes |
| 🔁Trailing Stops | Yes |
| 🕑Pending Orders | Yes |
| 🔽Partial Fills | Yes |
| 🧾Dividend Adjustments | Yes |
| 🌙Overnight Swap Fees | Applicable, waived for Islamic accounts |
| 📆Rollover Policy | Follows market standards |
| 🛑Guaranteed Stop Loss | Yes, for specific instruments |
| Trading Instruments | |
| 💹Forex Currency Pairs | 55+ pairs, including majors, minors, and exotics |
| 🪙Precious Metals (Gold/Silver) | Yes |
| 📈Indices | Yes |
| 🌾Commodities | Yes, including soft commodities |
| ⛽Energies (Oil/Natural Gas) | Yes |
| ₿Cryptocurrencies | Yes (via platforms and email) |
| 📉Stocks | Yes, global stocks available |
| 🗂️ETFs | Yes |
| 🏛️Bonds | No |
| 📜Futures Contracts | No |
| 🛡️Options Contracts | Yes |
| ⚖️CFDs (Contracts for Difference) | Yes |
| 🔣Swap on Trading Board | Yes |
| 🔀Leveraged Instruments | Yes, leverage up to 1:400 |
| 🎯Micro-Lot Trading | Yes |
| 💸Spread Betting | Yes, available in some regions |
| 🧺Currency Baskets | No |
| Deposits and Withdrawals | |
| 💳Deposit Methods | Credit/Debit Cards, Bank Wire Transfer, E-Wallets (Skrill, Neteller), Local Payment Methods |
| 💵Withdrawal Methods | Credit/Debit Cards, Bank Wire Transfer, E-Wallets (Skrill, Neteller) |
| ⏱️Processing Time for Deposits | YesInstant for most methods, 1-3 business days for bank transfers |
| 🕒Processing Time for Withdrawals | 24-48 hours for most methods, up to 5 business days for bank transfers |
| 🚫Deposit Fees | No |
| 💵Withdrawal Fees | No |
| 🔢Minimum Deposit Amount | $100 |
| 📉Minimum Withdrawal Amount | $100 (may vary by method) |
| 🚪Maximum Withdrawal Limit | No specific limit, subject to account balance |
| 💱Supported Currencies | USD, EUR, GBP, AUD, and more |
| ₿Crypto Deposits & Withdrawals | Not supported |
| 🏦Bank Wire Transfers | Supported |
| 💳Credit/Debit Cards | Supported |
| 📲E-Wallets (Skrill, Neteller, etc.) | Supported |
| 🏘️Local Payment Methods | Supported (varies by region) |
| Trading Platforms and Tools | |
| 💻MetaTrader 4 (MT4) | Yes, fully supported |
| 👩💻MetaTrader 5 (MT5) | Yes, available for advanced trading |
| 🖥️Proprietary Platform | Yes, AvaTradeGo and WebTrader |
| 📱Mobile Trading App | Yes, AvaTradeGo offers comprehensive mobile trading |
| 🌐Web-Based Platform | Yes, WebTrader is available |
| 🤖Trading Bots | Yes, compatible with EAs (Expert Advisors) |
| 🖧VPS Services | Available upon request |
| 🔌API Connectivity | No |
| 📉Charting Tools | Advanced charting tools are available |
| 🧮Custom Indicators | Supported via MT4/MT5 |
| 🧠Market Sentiment Analysis | Yes, integrated into platforms |
| 📩Trading Signals | Yes, via partnerships with Trading Central |
| 🏷️Advanced Order Types | Yes, including stop orders and limit orders |
| ⚠️Risk Management Tools | Yes, includes guaranteed stop-loss and negative balance protection |
| 📅Economic Calendar | Yes, provided within the platform |
| 📰Market News Feed | Yes, updated in real-time |
| Customer Support | |
| 📞Support Channels | Live Chat, Email, Phone, FAQ/Help Center |
| 🗨️Live Chat Availability | 24/5 |
| 📧Email Support | Available |
| 📱Phone Support | Available |
| 🌍Multilingual Support | Yes, supports multiple languages |
| ❓Help Center/FAQ | Comprehensive Help Center and FAQs |
| 👨💼Dedicated Account Manager | Available for premium accounts |
| ⏲️Response Time (Live Chat) | Within a few minutes |
| 🕒Response Time (Email) | 24-48 hours |
| ⭐Support Rating | High-rated for responsiveness and efficiency |
| Educational Resources and Support | |
| 🎥Webinars | Regular webinars on various trading topics |
| 🏫Seminars | Available in selected locations |
| 📖Trading Tutorials | Comprehensive beginner and advanced tutorials |
| 📊Market Analysis Reports | Daily and weekly market analysis reports |
| 📚E-Books | Various e-books covering different aspects of trading |
| 🎬Video Library | Extensive library with video tutorials |
| 📜Glossary | Detailed glossary of trading terms |
| ❔FAQs | Frequently Asked Questions section covering general and account-related inquiries |
| 🆕Beginner Guides | Step-by-step beginner guides to help new traders |
| 🚀Advanced Trading Strategies | In-depth strategies for experienced traders to enhance trading skills |
| Partnerships and Programs | |
| 📋IB Program | Yes |
| 🪪Affiliate program? | Commission-based program for affiliates promoting AvaTrade |
| 🏷️White Label Solutions | Customized solutions for financial institutions and brokers to offer AvaTrade's services under their brand |
| 🎁Partnership Rewards | Rewards and bonuses for partners based on performance and business growth |
| 🏛️Institutional Solutions | Tailored solutions for financial institutions, including liquidity services |
| 🔌API Partnership | AvaTrade offers API access for integrating their trading services into third-party platforms |
| 🤝Referral Program | Incentives for clients who refer new traders to AvaTrade |
| Fees & Charges | |
| 💳Deposit Fees | No deposit fees for most methods |
| 📤Withdrawal Fees | No withdrawal fees for most methods |
| 💤Inactivity Fee | Inactivity fee of $50/month after 3 months of no trading activity |
| 🌜Overnight Fees (Swaps) | Charges/credits depend on the position, asset class, and market conditions |
| 💱Conversion Fees | Conversion fees apply when depositing or withdrawing in a different currency than the account's base currency |
| 💰Commission on Trades | No commission for standard accounts, but commissions may apply for certain account types like ECN accounts |
| Market Research Tools | AvaTrade offers an economic calendar with key financial events and news updates. |
| 📅Economic Calendar | AvaTrade offers an economic calendar with key financial events and news updates. |
| 📰Market News | AvaTrade provides real-time market news from leading financial sources. |
| 📩Trading Signals | AvaTrade offers trading signals through third-party providers and on its platform. |
| 🔧Technical Analysis Tools | AvaTrade includes charting tools, technical indicators, and analysis features. |
| 💭Sentiment Analysis | AvaTrade provides sentiment indicators, showing the market mood and trends. |
| Additional Features | |
| 👥PAMM/MAM Accounts | AvaTrade offers PAMM (Percentage Allocation Management Module) and MAM (Multi-Account Manager) accounts for fund managers and clients. |
| 🔗Social Trading Platform | AvaTrade provides a social trading platform allowing users to follow and copy trades of others. |
| 🏆Trading Competitions | AvaTrade hosts periodic trading competitions with cash prizes and other rewards. |
| 🎁Loyalty Rewards | AvaTrade has a loyalty program offering benefits such as bonuses and other perks for active traders. |
| 👑Exclusive VIP Perks | AvaTrade offers VIP clients exclusive services like personalized account management and special offers. |
| Promotions & Bonuses | |
| 🎁Welcome Bonus | AvaTrade offers a welcome bonus to new clients upon opening and funding their accounts. |
| 💵Deposit Bonus | AvaTrade may offer deposit bonuses, providing additional trading funds on qualifying deposits. |
| 🏅Trading Contests | AvaTrade organizes trading contests, where participants can win prizes based on their trading performance. |
| 🌟Seasonal Promotions | AvaTrade runs seasonal promotions throughout the year, offering special deals and bonuses. |
| 🎖️Loyalty Programs | AvaTrade offers loyalty programs that reward clients for their continued trading activity with perks and bonuses. |
| User Experience & Reviews | |
| 🖥️User Interface Quality | AvaTrade’s platform offers a clean and intuitive interface, designed for both beginner and experienced traders. |
| 🔒Platform Stability | AvaTrade’s platform is known for its stability, with minimal downtime and robust performance under various market conditions. |
| 📱Mobile App Reviews | The mobile app receives positive reviews for its ease of use, offering a wide range of features similar to the desktop platform. |
| ⭐Overall User Rating | AvaTrade generally holds a solid rating from users, with many praising its comprehensive offerings and user-friendly interface. |
| 🌟Trustpilot Rating | AvaTrade maintains a strong Trustpilot rating, with many clients expressing satisfaction with their services. |
| 😟Common Complaints | Common complaints include slow customer support response times and occasional withdrawal issues. |
| Mobile | |
| 📱Mobile App Name | AvaTradeGO |
| 🛠️Developer | AvaTrade Ltd. |
| 📅Release Year | 2019 |
| 💻OS Compatibility | iOS, Android |
| 🌐Languages Supported | English, French, Spanish, Italian, Arabic, Portuguese, and others |
| 📈Trading Instruments | Forex, CFDs, Commodities, Stocks, Indices, Cryptocurrencies |
| 🔄Real-Time Data | Yes, with live market data and updates |
| 🛠️Charting Tools | Advanced charting tools with technical analysis indicators |
| 📊Order Types Supported | Market Orders, Limit Orders, Stop Orders, OCO, Trailing Stop |
| 🚀Order Execution Speed | Fast, near-instant execution on mobile |
| 🔔Custom Alerts | Yes, users can set price alerts and notifications |
| 🤝Beginner-Friendly | Yes, the app is designed with simplicity and ease of use |
| 🔐Security Features | Two-factor authentication (2FA), encryption |
| 🖥️Synchronization | Syncs across all devices (mobile and desktop) |
| 💰Deposit and Withdrawal | Yes, mobile deposits and withdrawals are supported |
| 📝Account Types Accessible | All account types available, including demo accounts |
| 🔄Switch Accounts | Yes, users can switch between accounts easily |
| 💬In-App Support | Live chat support available within the app |
| 📚Educational Resources | Access to tutorials, webinars, and market analysis |
| 🎯Watchlist | Yes, users can create and manage a personalized watchlist |
| 🌙Dark Mode | Yes, the app supports dark mode for better visibility |
| 🌐Social Trading | Yes, users can engage in social trading within the app |
| AI Trading Resources | |
| 🤖AI Integration | AvaTrade offers AI-powered trading tools, integrated into the platform |
| 📊Data Analysis | Yes, AI-driven data analysis for enhanced decision-making |
| 📈Predictive Analytics | Yes, predictive tools are available to anticipate market trends |
| 🛠️Customizable Strategies | Yes, users can customize their trading strategies using AI tools |
| 📉Risk Management Tools | Advanced AI tools to assess and manage trading risks |
| 🧑🏫Trading Insights | AI-based insights and recommendations for optimal trades |
| 🚀Execution Optimization | AI-driven algorithms that optimize order execution speed |
| 🔄Portfolio Rebalancing | Yes, AI can assist in portfolio rebalancing based on market changes |
| 📚AI Tutorials | Available educational resources on how to use AI tools in trading |
| 🎥Video Demonstrations | Yes, video tutorials explaining how to use AI features |
| 🧑🤝🧑Webinars | Yes, webinars are available to discuss AI trading strategies |
| 🔍AI-Powered Search | Yes, search tools are enhanced with AI to provide more accurate results |
| 🌟Beginner-Friendly | Yes, AI tools are designed to be accessible for beginners |
| 🖥️Platform Availability | Available on both desktop and mobile platforms |
| 📈Backtesting Capability | Yes, users can backtest strategies using historical data |
| 🛠️Strategy Builder | Yes, users can build and customize their own AI-driven strategies |
| 🔔Alerts and Notifications | Yes, AI-powered alerts for market events and strategy changes |
| 🔒Data Protection | Strong encryption and data protection measures in place |
| 👁Transparency | Full transparency on how AI algorithms work and make decisions |
| Social Media Platformst | |
| AvaTrade is active on Facebook, providing updates, news, and promotions. |
|
| AvaTrade uses Instagram to share educational content, market analysis, and trading tips. |
|
| AvaTrade regularly tweets market insights, promotions, and company news. | |
| AvaTrade maintains a professional LinkedIn presence, sharing company updates and industry news. | |
| 🎥YouTube | AvaTrade's YouTube channel features tutorials, webinars, market updates, and promotional content. |
| 👉Open Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy and Fast account opening | Only CFDs, Forex, and Crypto offered |
| Free deposit and withdrawal options | Poor phone support |
| No withdrawals fees | Inactivity fee |
Our Findings
AvaTrade requires a minimum deposit of $100 to start, and a demo account is available for those who want to get acquainted with the popular MT4 forex trading platform. AvaTrade also offers mobile apps for Android and iOS.
2. Exness
Exness is a fully regulated broker with an easy-to-use withdrawal and deposit process. It also offers ultra-low spreads on hundreds of asset trading instruments. This broker is the world’s largest retail multi-asset broker by trading volume, with over 668,000 active traders and a record monthly trading volume as high as $4.8 trillion in February 2025. With its advanced trading platform, the broker provides better-than-market conditions. These include low and stable pricing, fast execution, seamless withdrawals, and more.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 3000 instruments, including forex, cryptocurrencies, stocks, commodities, and indices | Standard, Pro, Zero | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, FasaPay, Bitcoin, Ethereum, Tether |
| 🔣Platforms | Desktop, tablet, mobile, and web-based trading with MetaTrader 4, MetaTrader 5, and the Exness Trading Terminal | Standard, Pro, Zero | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, FasaPay, Bitcoin, Ethereum, Tether |
| 💱Automated Trading | A range of automated trading platforms and EA compatibility | Standard, Pro, Zero | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, FasaPay, Bitcoin, Ethereum, Tether |
| 💻Account Types | Fixed & floating spread accounts, swap-free accounts | Standard, Pro, Zero | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, FasaPay, Bitcoin, Ethereum, Tether |
| 🛡️Security | Client funds held in segregated accounts, regulated broker in multiple jurisdictions | Standard, Pro, Zero | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, FasaPay, Bitcoin, Ethereum, Tether |
| 🚀Promotions | Welcome bonus, cashback rewards, contests and giveaways | Standard, Pro, Zero | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, FasaPay, Bitcoin, Ethereum, Tether |
| 📚Tools & Resources | Economic calendar, trading signals, educational materials, analytical tools | Standard, Pro, Zero | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, FasaPay, Bitcoin, Ethereum, Tether |
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Platform
MT4, MT5, WebTerminal, Exness Terminal
Crypto
Yes
Features
| 🔎Broker | Exness |
| Company Information | |
| 📅Year Founded | 2008 |
| 🧑🏻💻Amount of staff | Over 2,100 |
| 👩💻Amount of active traders | Over 320,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA |
| 🌎Country of regulation | Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Standard, Raw Spread, Standard Cent, Zero, Pro |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | EUR/USD & USD/JPY |
| 💰Minimum Deposit | $10 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Instant to 1 business day |
| 🪙Fund Withdrawal Fee | Free, but may vary based on payment method and account type |
| 📊Spreads from | 0.3 pips |
| 💸Commissions | Varies by account type, often commission-free |
| 💱Number of base currencies supported | +40 |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:2000 |
| 📏Margin requirements | 50% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 200 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit Cards, Bank Transfers, E-Wallets (Skrill, Neteller, etc.), Cryptocurrencies (Bitcoin, Ethereum, etc.) |
| 💵Withdrawal Options | Credit/Debit Cards, Bank Transfers, E-Wallets (Skrill, Neteller, etc.), Cryptocurrencies (Bitcoin, Ethereum, etc.) |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), Exness Trade |
| 👩💻OS Compatibility | Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/7 |
| 📱Customer Support email address | support@exness.com |
| 📞Customer Support Contact Number | +35725030959 |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | 15 Languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 64 000 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, sponsorship agreement with LALIGA, the top professional football division in Spain |
| 🪙Rebate program | Yes |
| 👉Open Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Tight spreads on major currency pairs | Limited range of trading instruments compared to some brokers |
| Multiple account types to suit different traders | Restricted availability of some features in certain regions |
| Fast and reliable order execution | Limited educational resources for beginners |
Our Findings
Exness is an ideal broker due to its competitive Raw Spread account. The FSCA regulates Exness, so South African traders benefit from a certain level of protection against possible losses. The company, however, has a range of accounts that may not appeal to certain traders because of its $1 minimum deposit.
3. HFM
HFM, regulated by the FSCA, is a trustworthy and safe broker in South Africa. It offers exceptional 24/5 educational support and low spreads. HFM was founded in 2010 and has its headquarters in Cyprus. It is an award-winning forex and commodities broker that provides trading services and facilities to retail and institutional clients.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 1000 instruments, including forex, commodities, indices, shares, cryptocurrencies | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, FasaPay, WebMoney, UnionPay, China UnionPay, Paytrustup, PayMaya |
| 🔣Platforms | MetaTrader 4, MetaTrader 5, HF Trader, HF WebTrader, HF Mobile | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, FasaPay, WebMoney, UnionPay, China UnionPay, Paytrustup, PayMaya |
| 💱Automated Trading | Expert Advisors and automated trading tools | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, FasaPay, WebMoney, UnionPay, China UnionPay, Paytrustup, PayMaya |
| 💻Account Types | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, FasaPay, WebMoney, UnionPay, China UnionPay, Paytrustup, PayMaya |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, FasaPay, WebMoney, UnionPay, China UnionPay, Paytrustup, PayMaya |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, FasaPay, WebMoney, UnionPay, China UnionPay, Paytrustup, PayMaya |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Micro, Standard, Pro, Swap-Free, HF VIP, HF Prime | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, FasaPay, WebMoney, UnionPay, China UnionPay, Paytrustup, PayMaya |
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
No Trading Fees
Account Activation
24 Hours
Features
| 🔎Broker | 🥇HFM |
| Company Information | |
| 👨💼 Year Founded | 2010 |
| 👩💼👨💼 Current CEO | George Koumantaris |
| 👩💼👨💼 Founder/s | George Koumantaris, Marcos Kappos |
| 👥 Amount of staff | 200+ globally |
| 👨💻 Amount of active traders | Over 2 million |
| 📈 Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🇬🇧 Regulation | FCA (UK), FSCA (South Africa), CySEC (Cyprus), DFSA (Dubai), FSA (Seychelles) |
| 🇬🇧 Country of regulation | United Kingdom, South Africa, Cyprus, Dubai, Seychelles |
| 💼 Account Segregation | Yes, client funds are kept in segregated accounts |
| 🚫 Negative balance protection | Yes, available to retail clients |
| 🔐 Two-step Authentication | Yes, supports 2FA for extra account security |
| 🛡️ Investor Protection Schemes | Yes, clients are protected under the Investor Compensation Fund (ICF) in Europe |
| Account Types and Features | |
| 🏦 Institutional Accounts | Yes, available for institutional clients |
| 📊 Managed Accounts | Yes, PAMM and MAM accounts are offered |
| 💱 Minor account currencies | USD, EUR, ZAR, NGN, GBP, and more |
| 💰 Minimum Deposit | USD 0 / 0 ZAR |
| Trading Conditions | |
| ⏳ Average deposit/withdrawal processing time | Deposits: Instant; Withdrawals: 1-3 business days |
| 💵 Fund Withdrawal Fee | No fees for most methods, but some third-party charges may apply |
| 📉 Spreads from | As low as 0.1 pips on the Zero Spread account |
| 💸 Commissions | $3 per lot on Zero Spread accounts |
| 🌍 Number of base currencies supported | 10+ (including USD, EUR, ZAR, NGN, and GBP) |
| 📈 Swap Fees | Swap fees vary by instrument, but Islamic (swap-free) accounts are available |
| 📈 Leverage | Up to 1:1000 depending on the jurisdiction and account type |
| 📊 Margin requirements | Starting at 0.5%, varies by asset class and leverage level |
| 🌙 Islamic account (swap-free) | Yes, available for all account types |
| 🎓 Demo Account | Yes, unlimited free demo accounts |
| ⏱️ Order Execution Time | < 1 second on average |
| ☁️ VPS Hosting | Yes, free VPS for qualifying traders |
| 🌍 Global Offices | Multiple locations worldwide: Cyprus, UK, Dubai, South Africa, Seychelles |
| 👆 One-Click Trading | Yes, available on MT4 and MT5 platforms |
| 🤖 Expert Advisors | Yes, fully supported on MT4 and MT5 |
| Trading Instruments | |
| 📊 CFDs-Total Offered | 1,200+ CFDs |
| 📈 CFD Stock Indices | Yes, 15+ indices available |
| 🛢️ CFD Commodities | Yes, includes Gold, Oil, and Silver |
| 📉 CFD Shares | Yes, 50+ global stocks |
| 👀 Watch list | Yes, customizable watchlists |
| 🔔 Trade Alerts | Yes, available through the platforms |
| 📈 Trading Stocks with GP | Yes, stock trading is available via CFDs |
| 📊 Trading Indices with GP | Yes, index trading via CFDs available |
| 🛠️ Swap on trading board | Yes, swaps are visible on the trading platforms |
| Deposits and Withdrawals | |
| 💳 Deposit Options | Credit/Debit Card, Bank Transfer, E-wallets (Skrill, Neteller), Crypto |
| 💸 Withdrawal Options | Bank Transfer, Credit/Debit Card, E-wallets (Skrill, Neteller), Crypto |
| 🎁 Welcome Bonus | Yes, 100% SuperCharged Bonus available |
| Trading Platforms and Tools | |
| 💻 Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), HFM mobile app |
| 🚦 Stop-loss Instrument | Yes, fully supported |
| 🛡️ Investor Protection Schemes | Yes, as per regulation, compensation schemes apply |
| 🖥️ OS Compatibility | Windows, Mac, Linux, Android, iOS |
| 🔧 Forex trading tools | Yes, Autochartist, Trading Central, and more |
| 💬 Customer Support | |
| 💬 Live chat availability | Yes, 24/5 live chat support |
| 📧 Customer Support Email address | support@hfm.com |
| 📞 Customer Support Contact Number | +44 123 456 7890 |
| 🌐 Languages supported on HFM Website | English, Afrikaans, Arabic, Chinese, and more |
| Educational Resources and Support | |
| 👍 Beginners Trader friendly UX | Yes, beginner-friendly platform design |
| 📚 Forex course | Yes, free educational courses available |
| 🖥️ Webinars | Yes, regular free webinars provided |
| 📖 Educational Resources | Yes, includes tutorials, eBooks, and market analysis |
| Partnerships and Programs | |
| 🤝 Affiliate program? | Yes, generous affiliate program offered |
| 🤝 Amount of partners | 1,000+ affiliates globally |
| 📈 IB Program | Yes, multi-tier IB (Introducing Broker) program available |
| ⚽ Do they sponsor any notable events or teams? | Yes, HFM sponsors various sports teams and events |
| 💰 Rebate program | Yes, rebate program for active traders |
| 🗨️ Community Forum | Yes, online trader community and forum available |
| Social Media Platforms | |
| 🌐 Official Website address | hfm.com |
| 📘 Official Facebook Page | HFM Facebook |
| 🐦 Official Twitter Page | HFM Twitter |
| 📺 Official YouTube Channel | HFM YouTube |
| 🔗 Official Linkedin Page | HFM LinkedIn |
| 📸 Official Instagram Page | HFM Instagram |
| Regulatory Status in South Africa | |
| 🇿🇦 Accept South Africa Traders? | Yes |
| 🏛️ Is HFM regulated by the South Africa regulatory body (FSCA)? | Yes, licensed under FSCA |
| 🤝 Does HFM offer an Affiliate Program for South African Traders? | Yes, dedicated SA affiliate program |
| 💱 Does HFM allow accounts to be opened in ZAR / Rands? | Yes, ZAR-denominated accounts supported |
| 🚀Open Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Offers multiple account options | High leverage can increase risk |
| Provides tight spreads and low commissions | Lacking its own trading platform. |
| Offers comprehensive educational content | Support may be limited |
Our Findings
HFM is a regulated broker offering a competitive trading environment. It provides a decent range of assets, competitive spreads, and a user-friendly platform. While customer support is generally responsive, the depth of educational resources could be enhanced.
4. Tickmill
Tickmill is competitive regarding its trading fees and spreads compared to other regulated brokers. It is a safe and credible broker with a low minimum deposit. Their dedication to South African traders’ safety and security is reflected in its regulation by the Financial Sector Conduct Authority (FSCA) of South Africa. Thanks to its local regulatory scrutiny, the broker is subject to strict financial rules and practices in South Africa. Their global regulatory structure, which includes oversight from FCA, CySEC, DFSA, FSA, and LFSA, also strengthens their commitment to maintaining high safety standards.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 1000 instruments, including forex, commodities, indices, shares, cryptocurrencies | Classic, Pro, VIP, Swap-Free, MT5 | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🔣Platforms | MetaTrader 4, MetaTrader 5, Tickmill Trader, Tickmill WebTrader, Tickmill Mobile | Classic, Pro, VIP, Swap-Free, MT5 | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💱Automated Trading | Expert Advisors and automated trading tools | Classic, Pro, VIP, Swap-Free, MT5 | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💻Account Types | Classic, Pro, VIP, Swap-Free, MT5 | Classic, Pro, VIP, Swap-Free, MT5 | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Classic, Pro, VIP, Swap-Free, MT5 | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Classic, Pro, VIP, Swap-Free, MT5 | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Classic, Pro, VIP, Swap-Free, MT5 | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA
Trading Platform
MT4, MT5, Tickmill Trader
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔎Broker | 🥇Tickmill |
| Company Information | |
| 📅Year Founded | 2014 |
| 👨Current CEO | Duncan Anderson |
| 🧑🤝🧑Founder/s | Not publicly available |
| 🧑🏻💻Amount of staff | 441 |
| 👩💻Amount of active traders | Over 400 000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSA, FCA, CySEC, FSCA |
| 🌎Country of regulation | Seychelles, UK, Cyprus, South Africa |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| ⛗Two-step Authentication | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Plus account and Raw account |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | USD, EUR, GBP, ZAR |
| 💰Minimum Deposit | USD 100 / 1812 ZAR |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Instant to 1 business day |
| 🪙Fund Withdrawal Fee | Free, but may vary based on payment method and account type |
| 📊Spreads from | 0.0 pips |
| 💸Commissions | Varies by account type, often commission-free, $2 per side per lot (Pro Account) |
| 💱Number of base currencies supported | 4 (EUR, USD, GBP, PLN) |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:1000 |
| 📏Margin requirements | 50% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes, for an additional fee |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 725 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| 👁️🗨 Watchlist | Yes |
| 🔔 Trade Alerts | Yes |
| 💼 Trading Stocks with GP | Yes |
| 📉 Trading Indices with GP | Yes |
| 💹 Swap on Trading Board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT) |
| 💵Withdrawal Options | Credit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT) |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), MetaTrader WebTrader, MetaTrader for Mac, Tickmill Mobile App |
| 👩💻OS Compatibility | Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/5 |
| 📱Customer Support email address | support@tickmill.com |
| 📞Customer Support Contact Number | South Africa: +278 7250 0696 International: +852 5808 7849 |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | 17 Languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 9000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Advanced trading platforms such as MetaTrader 4 and 5 are available to South Africans | Tickmill provides a limited set of research tools and market analysis |
| South Africans can take part in frequent promotions and competitions, including a $30 no-deposit bonus | South Africans may find educational options that are less targeted to local market needs |
| Tickmill provides risk management solutions to help traders manage their trading risks effectively | Promotional offers and bonuses may be less appealing to South Africans compared to some local competitors |
Our Findings
Tickmill has earned its reputation as a forex and CFD broker that caters to many traders. The broker is known for its competitive spreads and ability to provide traders with meta-trader platforms such as Meta Trader 4 or 5. The broker’s objective is to enable traders to use a variety of trading environments.
5. FxPro
FxPro is a well-capitalized, trustworthy broker offering multiple platform options and trade execution methods. With the $100 / 1700 ZAR minimum deposit and intuitive proprietary platform, FxPro is a good place for first-time traders to start. FXPro is an online FX and CFD broker based in Cyprus that trades globally except for the United States. It was founded in 2006 and has gained popularity with traders because of its access to different markets, including forex, indices, commodities, and cryptocurrencies.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 8000 instruments, including forex, commodities, indices, shares, cryptocurrencies | Standard, MT5, VIP, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🔣Platforms | MetaTrader 4, MetaTrader 5, FxPro Edge, FxPro Trader | Standard, MT5, VIP, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💱Automated Trading | Expert Advisors and automated trading tools | Standard, MT5, VIP, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💻Account Types | Standard, MT5, VIP, Swap-Free | Standard, MT5, VIP, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Standard, MT5, VIP, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Standard, MT5, VIP, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Standard, MT5, VIP, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
Min Deposit
USD 100
Regulators
FCA, CySEC, FSCA, SCB
Trading Platform
MT4, MT5
Crypto
No
Total Pairs
70
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| Company Information | |
| Company Name | FxPro |
| 🏢 Company Information | FxPro Group Limited |
| 📅 Year Founded | 2006 |
| 👩💼👨💼 Current CEO | Charalambos Psimolophitis |
| 👩💼👨💼 Founder/s | Denis Sukhotin |
| 👥 Amount of staff | Over 200 employees |
| 👨💻 Amount of active traders | Over 1.8 million |
| 📈 Publicly Traded (Listed Company) | No |
| 🇬🇧 Regulation and Security | Strong regulatory oversight |
| 🇬🇧 Regulation | FCA, CySEC, FSCA |
| 🇬🇧 Country of regulation | UK, Cyprus, South Africa |
| 💼 Account Segregation | Yes, funds are segregated |
| 🚫 Negative balance protection | Yes |
| 🔐 Two-step Authentication | Available |
| 🛡️ Investor Protection Schemes | Yes, under regulatory authorities |
| 📋 Account Types and Features | Standard, MT4, MT5, and cTrader accounts |
| 🏦 Institutional Accounts | Yes |
| 📊 Managed Accounts | No |
| 💱 Minor account currencies | USD, EUR, GBP, ZAR |
| 💰 Minimum Deposit | $100 / 1700 ZAR |
| 📊 Trading Conditions | Competitive spreads, fast execution |
| ⏳ Average deposit/withdrawal processing time | 1-2 business days |
| 💵 Fund Withdrawal Fee | No fees on most methods |
| 📉 Spreads from | 0.0 pips |
| 💸 Commissions | On cTrader accounts (from $4.5) |
| 🌍 Number of base currencies supported | 7 |
| 📈 Swap Fees | Yes, applicable on overnight trades |
| 📈 Leverage | Up to 1:500 |
| 📊 Margin requirements | 2% |
| 🌙 Islamic account (swap-free) | Yes |
| 🎓 Demo Account | Yes, unlimited |
| ⏱️ Order Execution Time | < 11ms |
| ☁️ VPS Hosting | Available for high-frequency traders |
| 🌍 Global Offices | UK, Cyprus, Bahamas, Dubai |
| 👆 One-Click Trading | Yes |
| 🤖 Expert Advisors | Supported on MT4/MT5 |
| 📊 Trading Instruments | Forex, Stocks, Indices, Metals, Energy |
| 📊 CFDs-Total Offered | Over 2000 instruments |
| 📈 CFD Stock Indices | Yes, major global indices |
| 🛢️ CFD Commodities | Yes, energy and metals |
| 📉 CFD Shares | Yes, large selection |
| 👀 Watch list | Customizable |
| 🔔 Trade Alerts | Yes |
| 📈 Trading Stocks with GP | Yes |
| 📊 Trading Indices with GP | Yes |
| 🛠️ Swap on trading board | Yes |
| 💳 Deposits and Withdrawals | Credit/Debit cards, Bank Wire, PayPal, Skrill, Neteller |
| 💳 Deposit Options | Multiple methods supported |
| 💸 Withdrawal Options | Same as deposit methods |
| 🎁 Welcome Bonus | No |
| 💻 Trading Platforms and Tools | MT4, MT5, cTrader, FxPro Edge |
| 🚦 Stop-loss Instrument | Yes |
| 🛡️ Investor Protection Schemes | Yes, under regulatory bodies |
| 🖥️ OS Compatibility | Windows, macOS, iOS, Android |
| 🔧 Forex trading tools | Yes, extensive |
| 💬 Customer Support | 24/5 support available |
| 💬 Live chat availability | Yes, 24/5 |
| 📧 Customer Support Email address | support@fxpro.com |
| 📞 Customer Support Contact Number | +44 (0) 203 151 5550 |
| 🌐 Languages supported on FxPro Website | 18 languages |
| 📚 Educational Resources and Support | Webinars, articles, video tutorials |
| 👍 Beginners Trader friendly UX | Yes |
| 📚 Forex course | Yes, basic to advanced |
| 🖥️ Webinars | Yes |
| 📖 Educational Resources | Yes, rich library |
| 🤝 Partnerships and Programs | Yes |
| 🤝 Affiliate program? | Yes |
| 🤝 Amount of partners | 10,000+ |
| 📈 IB Program | Yes |
| ⚽ Do they sponsor any notable events or teams? | Yes, McLaren F1 team |
| 💰 Rebate program | Yes, for IBs |
| 🗨️ Community Forum | No |
| 📱 Social Media Platforms | Facebook, Twitter, Instagram, YouTube, LinkedIn |
| 🌐 Official Website address | FxPro |
| 📘 Official Facebook Page | FxPro |
| 🐦 Official Twitter Page | FxPro |
| 📺 Official YouTube Channel | FxPro |
| 🔗 Official Linkedin Page | FxPro |
| 📸 Official Instagram Page | FxProGlobal |
| 🇿🇦 Regulatory Status in South Africa | FSCA regulated |
| 🇿🇦 Accept South Africa Traders? | Yes |
| 🏛️ Is FxPro regulated by the South Africa regulatory body (FSCA)? | Yes |
| 🤝 Does FxPro offer an Affiliate Program for South African Traders? | Yes |
| 💱 Does FxPro allow accounts to be opened in ZAR / Rands? | Yes |
| 🚀 Open Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy account opening | Only CFDs and forex |
| Great customer service | High trading fees |
| Free deposit and withdrawal | Inactivity fee |
Our Findings
Overall, FxPro is a trustworthy and regulated broker regulated by multiple entities, including the South African Financial Sector Conduct Authority.
6. Octa
Established as an online brokerage firm in 2011, Octa has built a reputation in the industry by making it easy for traders to access their platform with competitive spreads and robust security measures. International regulators ensure that clients’ funds are protected and trades are executed fairly. The brokerage has two accounts with minimum deposits beginning from $25; it also has a sleek mobile application and a good selection of trading tools. Additionally, Octa extensively advertises its vast assortment of bonuses and offers Leverage on Forex pairs at 1:1000.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 1000 instruments, including forex, commodities, indices, shares, cryptocurrencies | Standard, ECN, MT5, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🔣Platforms | MetaTrader 4, MetaTrader 5, OctaTrader, OctaWebTrader, Octa Mobile | Standard, ECN, MT5, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💱Automated Trading | Expert Advisors and automated trading tools | Standard, ECN, MT5, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💻Account Types | Standard, ECN, MT5, Swap-Free | Standard, ECN, MT5, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Standard, ECN, MT5, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Standard, ECN, MT5, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Standard, ECN, MT5, Swap-Free | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
Min Deposit
USD 25
Regulators
CySEC, MISA, FSCA and FSC
Trading Platform
MT4, MT5, OctaTrader
Crypto
Yes
Total Pairs
52
Islamic Account
Yes
Trading Fees
No
Account Activation
24 Hours
Features
| 🏛️Broker | 🥇OctaFX |
| Company Information | |
| 📅Year Founded | 2011 |
| 🧑🏻💻Amount of staff | 694 |
| 👩💻Amount of active traders | Over 1,000,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC, MWALI, FSCA |
| 🌎Country of regulation | Cyprus, Union of the Comoros, South Africa |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Standard, Micro |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | USD, EUR |
| 💰Minimum Deposit | $25 (Recommended: $100) |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | No |
| 📊Spreads from | 0.6 pips |
| 💸Commissions | None |
| 💱Number of base currencies supported | 2 (USD, EUR) |
| 🚀Swap Fees | Yes |
| 📈Leverage | Up to 1:500 |
| 📏Margin requirements | margin requirement of 50% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | In seconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 230 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | credit cards, debit cards, bank transfers, e-wallets (like Skrill, Neteller), and cryptocurrency |
| 💵Withdrawal Options | The same as deposit options |
| Trading Platforms and Tools | |
| 💻Trading Platforms | OctaTrader, MetaTrader 4, MetaTrader 5 |
| 👩💻OS Compatibility | Web, Mobile (iOS and Android) |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes, available 24/7 |
| 📱Customer Support email address | support@octafx.com |
| 📞Customer Support Contact Number | N/A |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | English, Arabic, Chinese, Indonesian, Malay, Thai, and Vietnamese |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 4,600 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| 👉Open Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Octa offers powerful trading platforms that cater to different traders | Octa has no local office in South Africa |
| The platform offers a diverse set of trading instruments | Octa is not regulated by any Tier-1 regulatory entities |
| Octa Group is regulated with 1 Tier-2 regulation CySEC (372/18). Their entity ‘Orinoco Capital (Pty) Ltd’ is Authorized under FSCA. | The demo account expires after 30 days |
| Octa accepts South African Rand (ZAR) transactions | There may be a perceived conflict of interest as a market maker when Octa earns from client losses |
| No commission on trading with any account type. Their spreads are low. | The minimum deposit is $25 or equivalent in ZAR if you are using bank transfer. |
Our Findings
Octa is a commendable Forex trading platform, especially for its adaptability to beginner and experienced traders. The combination of the OctaTrader, MetaTrader 4, and MetaTrader 5 platforms provides a blend of user-friendly interfaces and complex trading functions, meeting the different needs of the South African trading community.
7. XM
XM is a safe bet when it comes to regulation. It is overseen by several authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), both well-respected regulatory bodies. Additionally, XM has a legal entity called Trading Point MENA Limited, which is regulated by the Dubai Financial Services Authority (DFSA). This provides extra reassurance for some users.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 3500 instruments, including forex, commodities, indices, shares, cryptocurrencies | Micro, Standard, Ultrafast, Zero, ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🔣Platforms | MetaTrader 4, MetaTrader 5, XM WebTrader, XM Mobile | Micro, Standard, Ultrafast, Zero, ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💱Automated Trading | Expert Advisors and automated trading tools | Micro, Standard, Ultrafast, Zero, ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💻Account Types | Micro, Standard, Ultrafast, Zero, ECN | Micro, Standard, Ultrafast, Zero, ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Micro, Standard, Ultrafast, Zero, ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Micro, Standard, Ultrafast, Zero, ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Micro, Standard, Ultrafast, Zero, ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
Min Deposit
USD 5
Regulators
FSC, CySEC, ASIC,
Trading Platform
MT4, MT5
Features
| 🔎Broker | XM |
| Company Information | |
| 📅Year Founded | 2009 |
| 🧑🏻💻Amount of staff | Over 900 |
| 📌Current CEO | Constantinos Cleanthous |
| 🌟Founder/s | Constantinos Cleanthous |
| 👩💻Amount of active traders | Over 10 mil |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC, ASIC, IFSC, DFSA, FCA |
| 🌎Country of regulation | Cyprus, Australia, Belize, Dubai, UK |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes (for European clients under CySEC regulation) |
| Two-step Authentication | Yes |
| 🔋Investor Protection Schemes | FSCS (up to £85,000) for UK clients under XM UK (regulated by FCA) |
| Account Types and Features | |
| ➕Accounts | Micro, Standard, XM Zero (all come in MT4 & MT5 versions) |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Not offered |
| 📇Minor account currencies | USD, EUR, GBP, JPY, etc. |
| 💰Minimum Deposit | From USD 5 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1 business day (may vary) |
| 🪙Fund Withdrawal Fee | $0 |
| 📊Spreads from | 0.8 pips |
| 💸Commissions | No commission on trades (except for stock CFDs) |
| 💱Number of base currencies supported | More than 11 (USD, EUR, GBP, AUD, etc.) |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:1000 |
| 📏Margin requirements | As low as 1% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Ultra-fast (average under 1 second) |
| 📆VPS Hosting | Yes (free if minimum requirements met) |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 1,000+ |
| 🗠CFD Stock Indices | Major global indices 30+(e.g., S&P 500, FTSE 100) |
| ⚖️CFD Commodities | Popular commodities 15+ (e.g., gold, oil, natural gas) |
| 📜CFD Shares | Yes,600+ Shares of listed companies (exact number depends on regulations) |
| Watchlist | Yes |
| 📱Trade Alerts | Yes |
| 🔄Trading Stocks with GP | Yes |
| 🔄Trading Indices with GP | Yes |
| Swap on Trading Board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/debit cards, bank transfers, electronic wallets (Skrill, Neteller etc.), regional options |
| 💵Withdrawal Options | Credit/debit cards (limited to amount deposited with them), bank transfers, electronic wallets (subject to original deposit method), regional options |
| 🎁Welcome Bonus | Yes (region dependent) |
| Trading Platforms and Tools | |
| 🔧Stop-loss Instrument | Yes |
| 💻Trading Platforms | MT4 (MetaTrader 4), MT5 (MetaTrader 5), XM WebTrader |
| 👩💻OS Compatibility | Windows, Mac, Android, iOS |
| 🖥️Forex trading tools | Technical indicators Market analysis tools Auto trading (Expert Advisors - MT4 only) Algorithmic trading (limited - MT5 only) Trading calculators Economic calendar Sentiment analysis (limited) |
| Customer Support | |
| 🗣️Live chat availability | Yes, 24/5 |
| 📱Customer Support email address | support@xm.com |
| 📞Customer Support Contact Number | 35725029933 |
| 🗣️Languages supported on Website | 30+English, Malay, Chinese (Simplified & Traditional), Greek, Hungarian, Russian, Indonesian, French, Italian, Swedish |
| Educational Resources and Support | |
| 📍Beginner Trader Friendly UX | Yes |
| 🖺Forex course | Yes, XM offers a forex course for beginners. |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes, XM provides a library of educational resources including articles, videos, and glossaries. |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 10000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, XM sponsors various events and teams |
| 🪙Rebate program | May offer occasional rebate promotions, check their website for current offers |
| 🗞Community Forum | No |
| Official Website and Social Media | |
| 📧Official Website Address | www.xm.com |
| 📱Official Facebook Page | Yes |
| 📱Official Twitter Page | Yes |
| 📱Official YouTube Channel | Yes |
| 📱Official LinkedIn Page | Yes |
| 📱Official Instagram Page | Yes |
| South African Trader Specific Information | |
| Does XM Accept South African Traders? | Yes, XM accepts South African traders. They have a dedicated South African branch, XM ZA (Pty) Ltd, which is authorized by the Financial Sector Conduct Authority (FSCA) with authorization number 49976. |
| Is XM regulated by the South African regulatory body (FSCA)? | Yes, For South African clients, XM operates under the regulation of the FSCA through their South African branch, XM ZA (Pty) Ltd. This ensures adherence to local regulations for client protection. |
| Does XM offer an Affiliate Program for South African Traders? | Yes, XM offers an affiliate program for South African traders. You can find more information about it on the XM ZA website or by contacting their support team. |
| Does XM allow opening trading accounts in ZAR (South African Rand)? | Yes, XM allows opening trading accounts in ZAR (South African Rand). This makes it convenient for South African traders to deposit, trade, and withdraw funds without currency conversion fees. |
| 👉Open Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Offers a low entry barrier | Charges inactivity fees |
| Supports MetaTrader 4 and MetaTrader 5 | Does not offer fixed spreads |
| Offers extensive educational content | Lacks some advanced trading tools |
Our Findings
XM operates as a forex brokerage that provides different categories of accounts and trading platforms, including well-known choices such as MetaTrader 4 and 5. CySEC supervises this broker and offers leverage; however, investors must be aware of its dangers. XM also has learning materials and support services, but they may differ from one place to another.
8. FXTM
FXTM, or ForexTime, was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius, with license number C113012295. FXTM offers users seven different account types where the execution method, range of markets, available platform, and commissions and fees may vary. Three accounts are offered under the Standard category. Forex Time (FXTM) is a MetaTrader broker that offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 3000 instruments, including forex, commodities, indices, shares, cryptocurrencies | Standard, ECN, MT5, Cent, Shares | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 🔣Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader, FXTM WebTrader, FXTM Mobile | Standard, ECN, MT5, Cent, Shares | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 💱Automated Trading | Expert Advisors and automated trading tools | Standard, ECN, MT5, Cent, Shares | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 💻Account Types | Standard, ECN, MT5, Cent, Shares | Standard, ECN, MT5, Cent, Shares | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Standard, ECN, MT5, Cent, Shares | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Standard, ECN, MT5, Cent, Shares | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Standard, ECN, MT5, Cent, Shares | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
Min Deposit
USD 200
Regulators
FCA, FSC, FSCA
Trading Platform
MT4, MT5, FXTM Trader
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔎Broker | 🥇FXTM |
| Company Information | |
| 🏢 Year Founded | 2011 |
| 👤 Current CEO | Nicholas Defteras |
| 🏗️ Founder/s | Andrey Dashin |
| 👥 Amount of staff | Over 800 globally |
| 👩💻 Amount of active traders | Over 2 million worldwide |
| 🌐 Publicly Traded (Listed Company) | No |
| 🌍 Global Offices | Cyprus, UK, South Africa, Mauritius |
| Regulation and Security | |
| 🛡️ Regulation | FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSC (Mauritius) |
| 🌎 Country of regulation | UK, Cyprus, South Africa, Mauritius |
| 🔒 Account Segregation | Yes |
| ⚖️ Negative balance protection | Yes |
| 🔑 Two-step Authentication | Yes |
| 🛡️ Investor Protection Schemes | ICF (Cyprus), FSCS (UK) |
| Account Types and Features | |
| 💼 Institutional Accounts | No |
| 🧑🤝🧑 Managed Accounts | Yes (PAMM Accounts) |
| 💱 Minor account currencies | EUR, GBP, USD, ZAR, NGN |
| 💵 Minimum Deposit | USD 200 / 3631 ZAR |
| 🕌 Islamic account (swap-free) | Yes |
| 🎓 Demo Account | Yes |
| Trading Conditions | |
| ⏲️ Average deposit/withdrawal processing time | Within 24 hours |
| 💸 Fund Withdrawal Fee | No fee for most methods |
| 📉 Spreads from | 0.1 pips (ECN Account) |
| 💼 Commissions | From $4 per lot (on ECN Account) |
| 🔄 Number of base currencies supported | 5 |
| 💱 Swap Fees | Yes, but swap-free accounts available |
| 💪 Leverage | Up to 1:2000 (varies by account type) |
| 📊 Margin requirements | Varies by asset and leverage |
| ⚡ Order Execution Time | 0.1 second |
| 🖥️ VPS Hosting | Available for free on deposit |
| 🔄 One-Click Trading | Yes |
| Trading Instruments | |
| 📊 CFDs-Total Offered | 250+ |
| 📈 CFD Stock Indices | 11 |
| 💹 CFD Commodities | 3 |
| 📉 CFD Shares | 180+ |
| 📈 Trading Stocks with GP | Yes |
| 📈 Trading Indices with GP | Yes |
| 💼 Swap on the trading board | Yes |
| 📝 Watch list | Yes |
| 📢 Trade Alerts | Yes |
| Deposits and Withdrawals | |
| 💳 Deposit Options | Bank transfer, credit/debit cards, e-wallets (Skrill, Neteller, etc.) |
| 💸 Withdrawal Options | Same as deposit methods |
| 🎁 Welcome Bonus | Available (up to 30% bonus for new accounts) |
| Trading Platforms/Tools | |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| ⚠️ Stop-loss Instrument | Yes |
| 💻 OS Compatibility | Windows, macOS, Android, iOS |
| ⚙️ Forex trading tools | Yes (Economic calendar, calculators, etc.) |
| 🤖 Expert Advisors | Yes |
| Customer Support | |
| 💬 Live chat availability | Yes |
| 📧 Customer Support Email address | support@fxtm.com |
| 📞 Customer Support Contact Number | +44 203 734 1035 |
| 🌐 Languages supported on FXTM Website | 15+ including English, French, Spanish, Arabic |
| Educational Resources and Support | |
| 🎓 Beginners Trader friendly UX | Yes |
| 📚 Forex course | Yes |
| 🎥 Webinars | Yes |
| 📖 Educational Resources | Yes (Videos, eBooks, articles) |
| Partnerships and Programs | |
| 🤝 Affiliate program? | Yes |
| 👥 Amount of partners | 1,000+ |
| 👥 IB Program | Yes |
| 🏎️ Do they sponsor any notable events or teams? | Yes, former F1 partnerships |
| 💸 Rebate program | Yes |
| 🌐 Community Forum | Yes |
| Social Media | |
| 🌍 Official Website address | Yes |
| 📘 Official Facebook Page | Yes |
| 🐦 Official Twitter Page | Yes |
| 📺 Official Youtube Channel | Yes |
| 💼 Official Linkedin Page | Yes |
| 📷 Official Instagram Page | Yes |
| South African Traders | |
| 🇿🇦 Accept South Africa Traders? | Yes |
| 🇿🇦 Is FXTM regulated by the South Africa regulatory body (FSCA)? | Yes |
| 🇿🇦 Does FXTM offer an Affiliate Program for South African Traders? | Yes |
| 🇿🇦 Does FXTM allow accounts to be opened in ZAR / Rands? | Yes |
| 🚀Sign up | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Great customer Service | Limited range of trading instruments compared to some brokers |
| Strong Educational tools for the beginner trader | Restricted availability of some features in certain regions |
| Fast account opening | Limited educational resources for beginners |
Our Findings
FXTM is a reliable broker that offers many financial instruments and interesting trading conditions. The availability of educational resources and courteous customer service teams are noteworthy assets. Nevertheless, several customers have stated suggestions that could help enhance this company’s rating and trust score, increase the responsiveness of the customer service department, and reduce the withdrawal fee.
9. IC Markets
IC Markets is a regulated Forex ECN and CFD broker that offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks, and Futures on the MetaTrader 4, MetaTrader 5, and cTrader platforms for desktop, web, and mobile. IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA).
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 600 instruments, including forex, commodities, indices, shares, cryptocurrencies | Raw Spread, Standard, True ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 🔣Platforms | MetaTrader 4, MetaTrader 5, cTrader | Raw Spread, Standard, True ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 💱Automated Trading | Expert Advisors and automated trading tools | Raw Spread, Standard, True ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 💻Account Types | Raw Spread, Standard, True ECN | Raw Spread, Standard, True ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Raw Spread, Standard, True ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Raw Spread, Standard, True ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Raw Spread, Standard, True ECN | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay, Paytrustup, PayMaya |
Min Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔎Broker | IC Markets |
| Company Information | |
| 📅Year Founded | 2007 |
| 👨💼 Current CEO | Andrew Budzinski |
| 🏗️ Founder/s | Andrew Budzinski |
| 🧑🏻💻Amount of staff | 852 |
| 👩💻Amount of active traders | 180,000+ |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC, ASIC, SCB, FSA |
| 🌎Country of regulation | Australia, Cyprus, Seychelles |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| 🔐 Two-step Authentication | Yes |
| Account Types and Features | |
| ➕Accounts | cTrader, Raw Spread, standard |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF, RMB, |
| 💰Minimum Deposit | $200 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Instant for deposits, 1-2 business days for withdrawals |
| 🪙Fund Withdrawal Fee | Free, but may vary based on payment method and account type |
| 📊Spreads from | From 0.0 pips |
| 💸Commissions | $3 per lot per side |
| 💱Number of base currencies supported | 10+ |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:500 |
| 📏Margin requirements | 100 USD traded, 1 USD margin |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | over +2200 |
| 🗠CFD Stock Indices | 25+ |
| ⚖️CFD Commodities | 22+ s |
| 📜CFD Shares | 1,600+ |
| 👀 Watch list | Yes |
| 📢 Trade Alerts | No |
| 📉 Trading Stocks with GP | Yes |
| 📊 Trading Indices with GP | Yes |
| 💱 Swap on the trading board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit Card, Debit Card, PayPal, Skrill, Neteller, UnionPay, Wire Transfer, Bpay, FasaPay, Poli |
| 💵Withdrawal Options | Credit Card, Debit Card, PayPal, Skrill, Neteller, UnionPay, Wire Transfer, Bpay, FasaPay, Poli |
| 🎁 Welcome Bonus | No |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
| 👩💻OS Compatibility | Windows, Mac (via emulation), Android, iOS |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/7 |
| 📱Customer Support email address | support@icmarkets.com (General) |
| 📞Customer Support Contact Number | Thailand: +661800011956 Indonesia: +6280332160329 Colombia: +5718005190364 Vietnam: +8412032513 |
| 👾Social media Platforms | Facebook, Twitter, |
| 🗣️Languages supported on Website | 15 + |
| Educational Resources and Support | |
| 🎓 Beginners Trader friendly UX | Yes |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes, articles, videos, and tutorials |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 2 500+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, the Qatar Economic Forum 2025 |
| 🪙Rebate program | Yes |
| 💬 Community Forum | No |
| South African Trader Specific Information | |
| 🌐 Official Website address | www.icmarkets.com |
| 👍 Official Facebook Page | Yes |
| 🐦 Official Twitter Page | Yes |
| ▶️ Official Youtube Channel | Yes |
| 🏢 Official Linkedin Page | Yes |
| 📸 Official Instagram Page | Yes |
| 🌍 South African Specific Information | |
| Does IC Markets Accept South African Traders? | Yes |
| Is IC Markets regulated by the South African regulatory body (FSCA)? | No |
| Does IC Markets offer an Affiliate Program for South African Traders? | Yes |
| Does IC Markets allow opening trading accounts in ZAR (South African Rand)? | Yes |
| 👉Open Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low fees on Forex | No investor protection |
| Account opening is fast and hassle free | No protection on negative balance |
| Deposit and withdrawals are free of charge | Lack of research tools |
Our Findings
In our experience, IC Markets has proven to be a reliable solution for South Africans looking for a global Forex and CFD trading platform. The broker’s use of advanced technology infrastructures has resulted in a more seamless trading experience, which is especially welcomed by those of us implementing intricate strategies and demanding quick order execution.
10. Plus500
Plus500 is a trusted tier 1 regulated CFD provider that offers low trading and commission fees. Plus500 has a high trust score of 99 out of 100 and is considered low-risk. Moreover, Plus500 is registered as a Futures Commodity Merchant (FCM) with the US Commodity Futures Trading Commission (CFTC).
Trading Benefits
| 📌Feature | 💻Trading Features | 💳Accounts Offered | 💰Funding Methods |
| 📊Instruments | Over 2000 instruments, including forex, commodities, indices, shares, cryptocurrencies | Retail Account | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🔣Platforms | Plus500 WebTrader, Plus500 Mobile | Retail Account | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💱Automated Trading | Automated trading tools and strategies | Retail Account | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 💻Account Types | Plus500 | Retail Account | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🛡️Security | Regulated broker in multiple jurisdictions, client funds held in segregated accounts | Retail Account | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 🚀Promotions | Welcome bonus, deposit bonuses, no-deposit bonuses, trading contests, loyalty programs | Retail Account | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
| 📚Tools & Resources | Economic calendar, trading signals, market analysis, educational resources, trading calculators | Retail Account | Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, PayPal, Perfect Money, UnionPay, FasaPay, WebMoney, China UnionPay |
Min Deposit
USD 100
Regulators
CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Trading Platform
WebTrader
Crypto
Yes (Availability subject to regulations)
Total Pairs
70+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔎Broker | Plus500 |
| Company Information | |
| 📅Year Founded | 2008 |
| 🧑🏻💻Amount of staff | 569 |
| 👩💻Amount of active traders | 280,769 active users |
| 🌐Publicly Traded (Listed Company) | Yes, on the London Stock Exchange's Main Market |
| Regulation and Security | |
| 🛡️Regulation | FCA, ASIC, CySEC, MAS, FSCA |
| 🌎Country of regulation | UK, Cyprus, Australia, New Zealand, Singapore, South Africa, Israel, Seychelles, Estonia, United Arab Emirates, Japan |
| 💻Account Segregation | Yes, client funds are held in segregated bank accounts |
| 🪫Negative balance protection | Yes, in some jurisdictions |
| 🔋Investor Protection Schemes | £85k to UK, €20k to EU clients, and $0 to other clients |
| Account Types and Features | |
| ➕Accounts | Retail Account |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR/JPY, AUD/JPY, and GBP/EUR |
| 💰Minimum Deposit | $100 / R1806 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | $0 |
| 📊Spreads from | 0.8 pips |
| 💸Commissions | No commission is charged |
| 💱Number of base currencies supported | 48 |
| 🚀Swap Fees | Yes, Charged on leveraged overnight positions |
| 📈Leverage | 1:30 |
| 📏Margin requirements | Yes |
| ☪️Islamic account (swap-free) | No |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically fast (seconds) |
| 📆VPS Hosting | Not offered |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 2800 financial instruments, including Shares, Forex, Indices, Commodities, ETFs and Options. |
| 🗠CFD Stock Indices | Yes, including FTSE 100 |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank wires, credit/debit cards, Skrill, Neteller, and Paypal. |
| 💵Withdrawal Options | Bank wires, credit/debit cards, Skrill, Neteller, and Paypal. |
| Trading Platforms and Tools | |
| 💻Trading Platforms | User-friendly web and mobile platforms |
| 👩💻OS Compatibility | Windows, Mac, Web-based |
| 🖥️Forex trading tools | Cryptocurrencies, Forex, indices, commodities, shares, options, ETFs |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/7 |
| 📱Customer Support Online Whatsapp | Yes 24/7 |
| 📞Customer Support Contact Number | +65 6320 1111 and +65 6320 1119. |
| 👾Social media Platforms | Yes (Facebook, Twitter, etc.) |
| 🗣️Languages supported on Plus500 Website | 32 Languages |
| Educational Resources and Support | |
| 🖺Forex course | Not offered |
| 🧏♀️Webinars | Free Trading Webinars & Market Analyses |
| 📚Educational Resources | Free trading e-book, How to Videos etc. |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 40 000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | BSC Young Boys Super League, Italian Serie A club Atalanta and Polish Ekstraklasa team Legia Warsaw. |
| 🪙Rebate program | Yes |
| South African Trader Specific Information | |
| Does Plus500 Accept South African Traders? | Yes, offer full-trading package to South African traders. |
| Is Plus500 regulated by the South African regulatory body (FSCA)? | Yes, it is regulated and licensed by the FSCA. |
| Do Plus500 offer an Affiliate Program for South African Traders? | Yes, It offers an Affiliate program for most regions. |
| Do Plus500 allow opening trading accounts in ZAR? | The company supports having a base account currency in ZAR. |
| 👉Open Account | Open Account (CFD Service. Your capital is at risk) |
Pros and Cons
| ✅ Pros | ❌ Cons |
| User-friendly platform | Lack of in-depth research tools |
| Listed on the London Stock Exchange | Only an average educational section |
| Low trading fees | Limited product range. Only CFD |
Our Findings
Plus500 is an impressive Forex Brokerage with a comprehensive offering. The most impressive Broker benefits include access to a Trading Academy, a wide range of trading instruments, and remarkable customer support.
You might also like BEST FOREX BROKERS WITH ZAR TRADING ACCOUNTS REVIEW
You might also like BEST FOREX BROKERS IN SOUTH AFRICA
Set Realistic Goals
Intermediate traders looking to better their position in the Forex Market should start by setting achievable and assessable goals. A trader’s key objectives should be set over the longer term, as performance and income will vary monthly. Intermediate Forex Traders should be realistic and realize they will not be generating a salary in the millions by investing only a few thousand. Traders at any level of experience, be it beginner, intermediate, or pro, should also ensure that the size of their trades reflects how much they’re willing to lose. Once traders have a clear objective, they can focus on the strategies and tools needed.
Test Strategies
Being a professional forex trader will require the use of carefully refined strategies. A common misunderstanding is that professional traders will only use complex techniques when in fact, many serious incomes use simple systems, including:
Technical Trading
Technical analysis must be exceptional in order to become a professional trader or investor. Top-performing traders analyze price patterns to identify and capitalize on market trends. Professional Traders try to minimize distractions and focus mainly on needed alerts and tools.
Fundamental Trading
Intermediate Traders may be surprised that Professional investors don’t rely heavily on market news. Yes, fundamental news can steer prices, but the true challenge is predicting when or where the market will react and to what extent. A lot of Professional Investors use fundamental analysis to complement their technical analysis.
Automated Trading
Many Professional Forex Traders do not rely on automated algorithms as these systems are often not flexible enough to adapt to sharp market fluctuations. Instead, their market skill will allow them to stay agile in changing market conditions.
Never Stop Learning
Professional forex traders should utilize the resources available to them. This includes getting tips from those in their network or following investors on social media platforms.
Choose the Best Broker for the Next Step
Intermediate Traders should invest their time before they invest their money. Partnering up with an excellent broker will make transitioning from Intermediate to Professional much safer and easier.
Conclusion
An intermediate Forex Trader will need to follow a number of fundamental steps, such as those mentioned above, to become a professional. The time it will take for Intermediate Traders to become professionals will vary between individuals, and staying focused on their end goal is key.
Frequently Asked Questions
What are the key factors when choosing a forex broker for intermediate traders?
Regulation, Evaluate the platforms’ features, Compare the trading costs and leverage offered, and consider the availability of educational materials to enhance your trading knowledge.
What are the differences between a standard account and an ECN account?
- Standard accounts typically have fixed spreads suitable for beginners and those who prefer a simpler trading environment.
- ECN (Electronic Communication Network) accounts: Offer raw spreads, often narrower than standard accounts, but may have additional commissions. They are suitable for more experienced traders who seek better pricing and execution.
What are the key features intermediate traders should look for in a trading platform?
- Charting tools: Advanced charting capabilities, including customizable indicators, drawing tools, and timeframes.
- Order types: A variety of order types, such as market orders, limit orders, stop orders, and trailing stop orders.
- Automated trading: Support for automated trading strategies through Expert Advisors (EAs).
- Backtesting: The ability to test trading strategies on historical data.
- News and analysis: Access to real-time market news and analysis.
What are the benefits of using a proprietary trading platform?
- Customization: Proprietary platforms can be tailored to specific trading needs and preferences.
- Integration: They may offer seamless integration with other trading tools and services.
- Unique features: Proprietary platforms may have unique features that are not found on standard platforms.
What common mistakes do intermediate traders make, and how can I avoid them?
- Overtrading: Avoid trading excessively, especially when emotional.
- Ignoring risk management: Always use stop-loss orders and position sizing.
- Chasing losses: Don’t try to recover losses by taking excessive risks.
- Not staying updated: Keep informed about market news and economic events.
