The Top 10 Best Lowest Spread Forex Brokers in South Africa revealed. We have rated and reviewed the best Forex Brokers with Low Spreads.
This is a complete list of The Best Lowest Spread Forex Brokers FISpread Forex Brokers.
In this in-depth write-up, you will learn:
- Low Spread Brokers in South Africa
- List of Low Spread Brokers Accepting South African Traders
- Zero Spread Forex Brokers that are regulated and can be trusted
- Lowest Spread Forex Pairs
- Lowest Spread Brokers for Gold Trading
- Best FSCA Low Spread Broker for Scalping
- Low Spread, No Commission Forex Brokers
Best Lowest Spread Forex Brokers – A Comparison
🔎 Broker | 👉 Open an Account | 📊 Spreads (from) | 💴 Min. Deposit (USD) | 💵 Min. Deposit (ZAR) |
1️⃣ IG | 👉 Open Account | 0.86 Pips | $0 USD | R0 ZAR |
2️⃣ HFM | 👉 Open Account | 0.0 Pips | $5 USD | R85 ZAR |
3️⃣ CMC Markets | 👉 Open Account | 0.51 Pips | $0 USD | R0 ZAR |
4️⃣ FP Markets | 👉 Open Account | 1.2 Pips | $100 USD | R1808 ZAR |
5️⃣ IC Markets | 👉 Open Account | 0.62 Pips | $200 USD | R3615 ZAR |
6️⃣ Tickmill | 👉 Open Account | 0.51 Pips | $100 USD | R1808 ZAR |
7️⃣ HYCM | 👉 Open Account | 0.6 Pips | $100 USD | R1808 ZAR |
8️⃣ Pepperstone | 👉 Open Account | 0.17 Pips | $200 USD | R3615 ZAR |
9️⃣ City Index | 👉 Open Account | 0.80 Pips | $0 USD | R0 ZAR |
🔟 FXTM | 👉 Open Account | 0.3 Pips | $10 USD | R181 ZAR |
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Lower Spreads Forex – A Definition
Brokers who offer South African trading accounts featuring minimal buy (bid) to sell (ask) price distinctions constitute the brokers with lowest possible spread.
Trading conditions improve with lower spreads because brokers use the payouts to charge their commission fee thus benefiting traders engaged in both high-frequency and scalping approaches.
The FSCA (Financial Sector Conduct Authority) alongside other bodies in South Africa oversees broker operations to guarantee secure trading conditions for clients.
The best brokers for cost-oriented traders maintain ECN (Electronic Communication Network) or STP (Straight Through Processing) accounts which allow starting spreads at 0.0 pips during major currency pair trading.
10 Best Lowest Spread Forex Brokers in South Africa (2025)
- ☑️IG – Overall, the Best Spread Forex Broker in South Africa
- ☑️HFM – Ultra-competitive Low Spread Broker
- ☑️CMC Markets – Best Execution Low Spread Forex Broker
- ☑️FP Markets – Best Online Trading Experience
- ☑️IC Markets – Raw Spreads Account with Spreads from 0.0 Pips
- ☑️Tickmill – MT5 Broker with Low Spreads
- ☑️HYCM – High User Trust Score
- ☑️Pepperstone – Best Low Spread Forex Broker for Beginners
- ☑️City Index – Best Broker for Consistent Pricing
- ☑️FXTM – MT4 Broker with Low Spreads
1. IG
IG is a world-leading online trading provider that caters to both South African and International investors.
IG Markets South Africa Limited was established in 2010 and has a head office in Sandton, South Africa.
IG is also one of the best Forex Brokers in SA.
Min Deposit
USD 0
Regulators
FCA, BaFin, FINMA, DFSA, MAS, ASIC, FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
80
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Trading with IG Group will involve fees starting at USD 12, spreads starting at 0.86 pips, and commission-free trading, depending on the account traders select.
Featured
🔎Broker | IG |
Company Information | |
📅Year Founded | 1974 |
🧑🏻💻Amount of staff | Over 1,000 |
👩💻Amount of active traders | Over 239,000 |
🌐Publicly Traded (Listed Company) | Yes, listed on the London Stock Exchange (LSE) |
Regulation and Security | |
🛡️Regulation | Regulated by multiple financial authorities including FCA (UK), ASIC (Australia), and others |
🌎Country of regulation | South Africa, United States, UK |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes |
🔋Investor Protection Schemes | Yes (under FCA and ASIC regulations) |
Account Types and Features | |
➕Accounts | Institutional and Retail corporate clients |
💳Institutional Accounts | Yes |
👨💼Managed Accounts | No |
📇Minor account currencies | USD, EUR, GBP, AUD, CAD, JPY, and others |
💰Minimum Deposit | $0 USD |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | 1-3 business days |
🪙Fund Withdrawal Fee | No |
📊Spreads from | 0.6 pips |
💸Commissions | Variable |
💱Number of base currencies supported | Over 50 |
🚀Swap Fees | Yes (varies by account type) |
📈Leverage | Up to 200:1 |
📏Margin requirements | From 0.5% for forex, 5% for shares and margin factor for indices |
☪️Islamic account (swap-free) | No |
💻Demo Account | Yes |
⌛Order Execution Time | < 1 second |
📆VPS Hosting | No |
Trading Instruments | |
🧾CFDs-Total Offered | 16000+ |
🗠CFD Stock Indices | Yes |
⚖️CFD Commodities | Yes |
📜CFD Shares | Yes |
Deposits and Withdrawals | |
💳Deposit Options | Bank transfer, credit/debit cards, e-wallets |
💵Withdrawal Options | Bank transfer, credit/debit cards, e-wallets |
Trading Platforms and Tools | |
💻Trading Platforms | IG Trading Platform, MetaTrader 4, |
👩💻OS Compatibility | Windows, macOS, Web, Mobile (Android, iOS) |
🖥️Forex trading tools | Trading signals, economic calendar, charting tools |
Customer Support | |
🗣️Live chat availability | Yes |
📱Customer Support email address | newaccounts.za@ig.com. |
📞Customer Support Contact Number | 010 500 8624 |
👾Social media Platforms | Facebook, Twitter, |
🗣️Languages supported on Website | English, Spanish, Chinese, and others |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Trading Academy, webinars, market analysis |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | Not specified |
📋IB Program | Yes |
🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
🪙Rebate program | No |
👉Open Account | 👉 Open Account |
Fees, Spreads, and Commission
🔎 Broker | 🥇 IG |
💵 Minimum Deposit | $0 USD |
📈 Average Spread | 0.3 |
💳 Withdrawal Fee | No |
💷 Inactivity Fee | Yes |
📊 Commissions | Variable |
🚀 Open an Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Operates under top-tier regulators (FCA, ASIC, CFTC, etc.) | Minimum deposit can be high, especially outside the UK |
Competitive spreads, especially for major pairs | Charges an inactivity fee after two years of no activity |
Offers MetaTrader 4 (MT4), ProRealTime, and its proprietary platform | Spreads can widen during volatile market conditions |
Includes Forex, stocks, indices, commodities, and cryptocurrencies | Leverage limits are lower in regions like Europe and Australia due to regulations |
Extensive library of webinars, tutorials, and market analysis | Cryptocurrency CFD trading is restricted in certain areas (like the UK) |
No minimum deposit for bank transfers in certain regions | Fees for withdrawals via PayPal and credit cards in some regions |
Provides protection against extreme market volatility | Some fees can be difficult to understand, such as financing rates and spread costs for less commonly traded instruments |
Over 45 years in the market with a solid global reputation | Lacks promotional offers like deposit bonuses or cashbacks |
24/5 customer service and support across multiple languages | Advanced features and tools may feel complex for new traders |
Offers social trading features and trading signals | Doesn't provide built-in copy trading options like some competitors |
Our Findings
IG is popular for providing some of the smallest pips available in the Forex industry.
Traders who are looking for affordable trading terms always go for this company for this reason.
For example, if the spread starts at 0.6 on the EUR/USD currency pair, among others, IG provides good prices for both individuals and institutional investors.
2. HFM
HFM is a well-regulated forex and CFD broker with a significant market share in South Africa.
It offers South African traders a choice between four account types (Micro, Premium, HFcopy, and Zero Spread) and the ability to trade over 1,000 CFDs from nine asset classes.
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
HFM is an affordable broker with average trading costs of 10 USD on the Micro, Premium, and HFCopy Accounts and 7 USD on the Zero Spread accounts.
Featured
🔎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 |
Fees, Spreads, and Commission
🔎 Broker | 🥇 HFM |
📈 Spreads from | 0.0 Pips |
💰 Minimum Deposit | $5 |
💳 Commission | From $0.03 per $1,000 lot |
🚀 Open an Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Wide range of markets: Foreign Exchange, Stocks, Cryptocurencies, Gold, Silver, Copper, Government Securities, Mutual Funds, Exchange Traded Funds. | Offshore entities: Some regulations are in less secure offshore zones |
Negative balance protection: But can’t lose more than its deposit. | No U.S. clients: Not available to U.S. traders |
Multiple platforms: MetaTrader 4, MetaTrader 5, WebTrader, Mobile. | Basic research tools: Limited advanced analysis features |
High leverage: Up to 1:2000 | Fees applicable when the account has been unused |
Fast execution: Quick trades with low delays | Bonus restrictions: Bonuses vary by region |
Strong regulation: FCA, FSCA, CySEC, DFSA, FSA | Transparency on fees: Some fees are less clear, depending on account and region |
Our Findings
HFM is famous for having the tightest spread regarding big currencies in the currency exchange business.
For holders of premium accounts, the spread can even go down to as far as 0.1 pips on the pair EUR/USD, which gives HFM some competitive trading conditions.
Also, at HFM, no commission is charged when trading using this type of account.
3. CMC Markets
CMC Markets is a global CFD and forex broker on the London Stock Exchange.
It is regulated by top-tier regulators, including the FCA, IIROC, and ASIC, and is known for foreign exchanges.
Min Deposit
USD 0
Regulators
FCA, IIROC, ASIC, FMA, MAS
Trading Platform
MT4
Crypto
Yes
Total Pairs
158
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
CMC Markets offer competitive CFD spreads and commissions, with spreads on major FX pairs starting from 0.7 points and commissions on shares from 0.1%.
Featured
🔎Broker | CMC Markets |
Company Information | |
📅 Year Founded | 1989 |
Current CEO | Lord Kirkpatrick |
Founder/s | Peter Cruddas |
🧑🏻💻 Amount of Staff | Approximately 1,500 |
👩💻 Amount of Active Traders | Over 50,000 active traders |
🌐 Publicly Traded (Listed Company) | Yes, listed on the London Stock Exchange |
Regulation and Security | |
🛡️ Regulation | FCA (Financial Conduct Authority) |
🌎 Country of Regulation | United Kingdom |
💻 Account Segregation | Yes, client funds are held in segregated accounts |
🪫 Negative Balance Protection | Yes |
Two-step Authentication | Yes |
Stop-loss Instrument | Yes |
🔋 Investor Protection Schemes | Yes, eligible for Financial Services Compensation Scheme (FSCS) |
Account Types and Features | |
➕ Accounts | Standard, Professional |
💳 Institutional Accounts | Yes |
👨💼 Managed Accounts | Yes |
📇 Minor Account Currencies | Multiple (including ZAR, EUR, GBP, USD, etc.) |
💰 Minimum Deposit | $0 (for standard account) |
Trading Conditions | |
🕞 Average Deposit/Withdrawal Processing Time | 1-3 business days for withdrawals |
🪙 Fund Withdrawal Fee | None |
📊 Spreads From | From 0.7 pips |
💸 Commissions | No commissions on forex trades; spreads apply |
💱 Number of Base Currencies Supported | 10+ |
🚀 Swap Fees | Applicable (depends on position and instrument) |
📈 Leverage | Up to 1:500 (varies by instrument) |
📏 Margin Requirements | Depends on the instrument; generally 0.2% - 2% |
☪️ Islamic Account (Swap-Free) | Yes |
💻 Demo Account | Yes |
⌛ Order Execution Time | Typically 100 ms or less |
📆 VPS Hosting | Yes, available for clients |
Trading Instruments | |
🧾 CFDs - Total Offered | Over 10,000 |
🗠 CFD Stock Indices | Yes, multiple global indices available |
⚖️ CFD Commodities | Yes, including metals, energy, and agriculture |
📜 CFD Shares | Yes |
Watch List | Yes |
Trade Alerts | Yes |
Trading Indices with GP | Yes |
Trading Stocks with GP | Yes |
Swap on Trading Board | Yes |
Deposits and Withdrawals | |
💳 Deposit Options | Bank transfer, credit/debit cards, PayPal |
💵 Withdrawal Options | Bank transfer, credit/debit cards |
Welcome Bonus | Not commonly offered |
Trading Platforms and Tools | |
💻 Trading Platforms | CMC Markets Trading Platform, MT4 |
👩💻 OS Compatibility | Windows, macOS, iOS, Android |
🖥️ Forex Trading Tools | Advanced charting tools, trading signals |
Customer Support | |
🗣️ Live Chat Availability | Yes |
📱 Customer Support Email Address | support@cmcmarkets.com |
📞 Customer Support Contact Number | +44 20 7170 8200 |
👾 Social Media Platforms | Facebook, Twitter, LinkedIn, Instagram |
🗣️ Languages Supported on Website | English, Spanish, French, German, and more |
Educational Resources and Support | |
Beginners Trader Friendly UX | Yes |
🖺 Forex Course | Yes, various online courses available |
🧏♀️ Webinars | Yes, regular webinars on trading strategies |
📚 Educational Resources | Extensive library available |
Partnerships and Programs | |
🪪 Affiliate Program? | Yes |
👨🏫 Amount of Partners | Multiple partners globally |
📋 IB Program | Yes |
🏃♂️➡️ Do They Sponsor Notable Events/Teams? | Yes, various sponsorships |
🪙 Rebate Program | Yes |
Commission Fee | N/A (no commissions on forex trades) |
Social Platforms | |
Official Facebook Page | Yes |
Official Twitter Page | Yes |
Official YouTube Channel | Yes |
Official LinkedIn Page | Yes |
Official Instagram Page | Yes |
Official Website Address | Yes |
South African Trader Specific Information | |
Does CMC Markets Accept South African Traders? | Yes |
Is CMC Markets Regulated by FSCA? | No, regulated by FCA (UK) |
Does CMC Markets Offer an Affiliate Program for South African Traders? | Yes |
Does CMC Markets Allow Opening Trading Accounts in ZAR? | Yes (depends on the account type) |
👉 Open Account | 👉Open Account |
Fees, Spreads, and Commission
🔎 Account | 🥇 CFD | 🥈 Corporate | 🥉 Spread Betting |
💰 Min. Deposit Required | $0 Min Deposit | $0 Min Deposit | $0 Min Deposit |
💵 Min. Deposit Recommended | $100 USD / R1600 ZAR | $100 USD / R1600 ZAR | $100 USD / R1600 ZAR |
🔁 Spreads From | 0.3 Points | 0.3 Points | 0.3 Points |
💳 Commissions | Shares Only | Shares Only | No |
💸 Min. Commissions | Shares Only - From $10 | Shares Only - From $10 | No |
🌒 Overnight Holding Fees | Yes | Yes | Yes |
📊 Market Data Fees | Yes | Yes | No |
🆓 Demo Account | Yes | 📌 No | Yes |
🚀 Open an Account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Highly regulated by FCA, ASIC, and other top-tier regulators | Charges an inactivity fee after 12 months of no trading activity |
Offers over 10,000 tradable instruments, including Forex, indices, commodities, and stocks | Only offers MetaTrader 4 (MT4) and proprietary platform Next Generation |
Tight spreads, especially on major Forex pairs | Spreads can widen during high market volatility |
Proprietary platform (Next Generation) is feature-rich with advanced charting tools | The feature-rich platform can be overwhelming for novice traders |
Makes it accessible for all traders, especially beginners | No deposit bonuses or promotional offers |
Available to protect against extreme market volatility | Fewer cryptocurrency offerings compared to other brokers |
High-quality execution with no dealing desk intervention | Withdrawal fees may apply for non-bank transfer methods like PayPal |
Extensive educational materials, webinars, and market analysis | Research features, though solid, could be enhanced for deeper market analysis |
Ensures clients cannot lose more than their balance | Leverage is capped in regions like Europe due to regulations |
Generally fee-free for most deposits and withdrawals | Does not offer built-in copy trading functionality |
Our Findings
CMC Markets is one of the most revered companies in the forex industry because they provide their customers with some of the smallest margins, appealing to anyone wanting efficient investing options.
With lower margins as small as 0.3 pips in basic pairs like EUR/USD, CMC Markets has managed to maintain its appeal by offering those who trade for a living or pleasure a highly competitive rate.
4. FP Markets
FP Markets is an Australian-based multi-asset broker that serves clients from 80+ countries worldwide.
It offers access to various CFDs across Forex, Shares, Indices, Commodities, and cryptocurrencies.
Min Deposit
USD 100
Regulators
ASIC, CySEC, FSCA, CMA
Trading Platform
MT4, MT5, Iress Trader, cTrader
Crypto
Yes
Total Pairs
70+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trading with FP Markets involves fees starting at USD 3, Spreads starting at 0.0 Pips, and commission-free trading, depending on the account traders select.
The minimum deposit amount required to register an FP Markets live trading account is USD 100.
Featured
🔎Broker | FP Markets |
Company Information | |
📅Year Founded | 2005 |
🧑🏻💻Amount of staff | 274 |
👩💻Amount of active traders | Over 200,000 |
🌐Publicly Traded (Listed Company) | No |
Regulation and Security | |
🛡️Regulation | ASIC, CySEC, FSCA, FSA, FSC, CMA |
🌎Country of regulation | Australia, Cyprus |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes |
🔋Investor Protection Schemes | Yes |
Account Types and Features | |
➕Accounts | Standard, Raw ECN, and VIP accounts available |
💳Institutional Accounts | Yes, tailored solutions for institutional clients |
👨💼Managed Accounts | Yes, offered through third-party managed account services |
📇Minor account currencies | USD, EUR, GBP, AUD, JPY, and others |
💰Minimum Deposit | $100 / R1806 |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | Deposits are typically processed instantly; withdrawals usually within 1-2 business days |
🪙Fund Withdrawal Fee | Generally no fees for withdrawals; may vary based on method |
📊Spreads from | Spreads start from 0.0 pips on Raw ECN accounts |
💸Commissions | From $3.5 per side per lot on Raw ECN accounts |
💱Number of base currencies supported | Over 10 base currencies including USD, EUR, GBP, AUD, JPY, and others |
🚀Swap Fees | Swap fees apply; may vary depending on the position and account type |
📈Leverage | Up to 1:500 depending on the account type and instrument |
📏Margin requirements | typically 0.2% - 1% |
☪️Islamic account (swap-free) | Yes |
💻Demo Account | Yes |
⌛Order Execution Time | Typically 40-50 milliseconds on Raw ECN accounts |
📆VPS Hosting | Yes |
Trading Instruments | |
🧾CFDs-Total Offered | Over 1,000 CFDs across various asset classes |
🗠CFD Stock Indices | Yes,Major global indices including S&P 500, NASDAQ, FTSE 100, DAX, and more |
⚖️CFD Commodities | Yes, Includes commodities such as Gold, Silver, Oil, Natural Gas, and more |
📜CFD Shares | Yes, A wide range of global stocks from major markets including US, UK, EU, and Asia |
Deposits and Withdrawals | |
💳Deposit Options | Credit/Debit Cards, Bank Transfers, PayPal, Skrill, Neteller, and other e-wallets |
💵Withdrawal Options | Bank Transfers, Credit/Debit Cards, PayPal, Skrill, Neteller, and other e-wallets |
Trading Platforms and Tools | |
💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS, cTrader, WebTrader and TradingView |
👩💻OS Compatibility | Windows, Mac (via emulation), Android, iOS |
🖥️Forex trading tools | Yes |
Customer Support | |
🗣️Live chat availability | Yes, available 24/7 |
📱Customer Support email address | support@fpmarkets.com |
📞Customer Support Contact Number | +61 2 8252 6800 (Australia) or +44 20 8068 0760 (UK) |
👾Social media Platforms | Facebook, Twitter, Instagram |
🗣️Languages supported on Website | English, Chinese, Arabic, and other major languages |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Yes |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | Over 100,000 affiliates |
📋IB Program | Yes |
🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
🪙Rebate program | Yes |
South African Trader Specific Information | |
Does FP Markets Accept South African Traders? | Yes |
Is FP Markets regulated by the South African regulatory body (FSCA)? | Yes |
Does FP Markets offer an Affiliate Program for South African Traders? | Yes |
Does FP Markets allow opening trading accounts in ZAR (South African Rand)? | Yes |
👉Open Account | Open Account |
Fees, Spreads, and Commission
🔎 Account | 🥇 Standard | 🥈 Raw |
💰 Min. Deposit | $100 USD | $100 USD |
🔁 Spreads from | 1.0 Pips | 0.0 Pips |
📈 Max Leverage | 500:1 | 500:1 |
💳 Commission per Lot | Zero | $3 USD per side |
🚀 Open an Account | 👉 Open Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Forex fees are low | Stock CFD fees are high |
Accounts can be opened fast and easy | Product portfolio are somewhat limited |
Deposit and withdrawal processes are quickly executed | Web and desktop platform is somewhat outdated |
Our Findings
According to the sources, FP Markets offers some of the smallest spreads in forex trading, especially in the Raw ECN account.
This is because they have some major currency pairs, such as EUR/USD, with very low spreads beginning from 0.0 pips.
This highly competitive pricing structure makes them more appealing to individuals who engage in day trading and scalping.
5. IC Markets
IC Markets is a renowned Forex CFD provider that offers trading solutions for active day traders and scalpers.
IC Markets is authorized and regulated by multiple Regulators worldwide, including the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority (FSA), and the Securities Commission Bahamas (SCB).
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
Trading with IC Markets will involve fees starting at USD 3, spreads starting at 0 pips, and commission-free trading, depending on the account traders select.
Featured
🔎Broker | IC Markets |
Company Information | |
📅Year Founded | 2007 |
🧑🏻💻Amount of staff | Over 200 |
👩💻Amount of active traders | Over 180,000 |
🌐Publicly Traded (Listed Company) | No |
Regulation and Security | |
🛡️Regulation | ASIC (Australia), CySEC (Cyprus), FSA (Seychelles) |
🌎Country of regulation | Australia, Cyprus, Seychelles |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes |
🔋Investor Protection Schemes | Yes, through regulatory bodies |
Account Types and Features | |
💳Institutional Accounts | Yes |
👨💼Managed Accounts | No |
📇Minor account currencies | EUR, GBP, AUD, CAD, CHF, JPY, NZD, SGD, HKD |
💰Minimum Deposit | $200 / 3607 ZAR |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | 1-2 business days |
🪙Fund Withdrawal Fee | None for most methods |
📊Spreads from | 0.0 pips on Raw Spread accounts |
💸Commissions | $3.50 per lot per side on Raw Spread accounts |
💱Number of base currencies supported | 10 |
🚀Swap Fees | Applicable |
📈Leverage | Up to 500:1 |
📏Margin requirements | Variable based on asset and leverage |
☪️Islamic account (swap-free) | Yes |
💻Demo Account | Yes |
⌛Order Execution Time | Average 40 milliseconds |
📆VPS Hosting | Yes |
Trading Instruments | |
🧾CFDs-Total Offered | Over 2300 |
🗠CFD Stock Indices | Yes |
⚖️CFD Commodities | Yes |
📜CFD Shares | Yes |
Deposits and Withdrawals | |
💳Deposit Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, UnionPay, others |
💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, UnionPay, others |
Trading Platforms and Tools | |
💻Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, IC Markets WebTrader |
👩💻OS Compatibility | Web-based (All major browsers), Windows, macOS, iOS, Android |
🖥️Forex trading tools | Autochartist, Trading Central, ZuluTrade, Myfxbook, Advanced charting tools |
Customer Support | |
🗣️Live chat availability | Yes |
📱Customer Support email address | support@icmarkets.com |
📞Customer Support Contact Number | +61 2 8014 4280 |
👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
🗣️Languages supported on Website | English, Chinese, Spanish, Italian, French, more |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Video tutorials, Articles, Webinars, Market analysis |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | Not publicly disclosed |
📋IB Program | Yes |
🏃♂️➡️Do they sponsor any notable events or teams? | No |
🪙Rebate program | Yes |
👉Open Account | 👉 Open Account |
Fees, Spreads, and Commission
🔎 Account | 🥇 cTrader | 🥈 Raw Spread | 🥉 Standard |
💰 Min. Deposit | $200 USD | $200 USD | $200 USD |
💳 Commission (per lot) | $3 USD | $3.5 USD | $0 USD |
🔁 Spreads from | 0.0 Pips | 0.0 Pips | 0.6 Pips |
📈 Leverage | 1:500 | 1:500 | 1:500 |
📊 Micro Lot Trading (0.01) | Yes | Yes | Yes |
💵 Currency Pairs | 61 | 61 | 61 |
🚀 Open an Account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Low Forex Fees | Limited Product Selection |
Easy Account Opening | Slow Chat Response |
Our Findings
IC Markets is famous for providing cheap spreads in the forex sector, notably with its Raw Spread accounts.
In effect, IC Markets is a preferred choice for traders looking at reducing their transaction costs in trading major currencies such as EURO/USD as much as possible through nil starting from 0.0 pips on major pairs like EUR/USD or other available.
This low spread provision, coupled with quick trading execution times.
6. Tickmill
Tickmill offers its clients a wide range of services and products.
It is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and the Financial Sector Conduct Authority (FSCA) within several regions.
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
Tickmill spreads start from 0.13 pips on EUR/USD. The all-in cost is 0.53 pips when factoring in the RT commission equivalent of 0.4 pips.
The Pro account has similar pricing, with an RT commission of just $4 per round-turn standard lot.
Featured
Company Information | |
📅Year Founded | 2014 |
🧑🏻💻Amount of staff | 441 |
👩💻Amount of active traders | Over 400 000 |
🌐Publicly Traded (Listed Company) | No |
Regulation and Security | |
🛡️Regulation | FSA, FCA, CySEC, Labuan FSA, FSCA |
🌎Country of regulation | Seychelles, UK, Cyprus, Malaysia, South Africa |
💻Account Segregation | Yes |
🪫Negative balance protection | 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 | $100 USD |
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 |
💱Number of base currencies supported | 4 |
🚀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 |
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 |
South African Trader Specific Information | |
Does Tickmill Accept South African Traders? | Yes |
Is Tickmill regulated by the South African regulatory body (FSCA)? | Yes |
Does Tickmill offer an Affiliate Program for South African Traders? | Yes |
Does Tickmill allow opening trading accounts in ZAR (South African Rand)? | Yes |
👉Open Account | Open Account |
Fees, Spreads, and Commission
✅ Fees that occur by trading with Tickmill | 🚫 Fees that do not occur by trading with Tickmill |
Spread (direct spread or higher spread in the classic account) | No deposit or withdrawal fees |
No account maintenance fees | |
No inactivity fees | |
🚀 Open an Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Competitive pricing | Limited platform options |
Well regulated | |
High leverage |
Our Findings
Tickmill’s excellent reputation lies in its cheapest spreads compared to all other brokers.
Traders who target cost efficiency are delighted by this.
A trader can open a Pro or VIP account with spreads that start from 0.0 pips at Tickmill such offers significantly reduce transaction costs.
The required policy, execution speed, and low-cost environment set it apart.
7. HYCM
HYCM is a trustworthy and reliable service provider that offers fast execution, tight spreads, and a choice of account types for every type of trader.
Min Deposit
USD 20
Regulators
FCA
Trading Platform
MT4, MT5, WebTrader
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trading with HYCM involves fees starting at USD 4, spreads from 0.1 pips to 1.5 pips, and commission-free trading, depending on the account traders select.
Featured
Company Information | |
📅Year Founded | 1998 |
🧑🏻💻Amount of staff | Approx. 200+ |
👩💻Amount of active traders | 100+ |
🌐Publicly Traded (Listed Company) | No |
Regulation and Security | |
🛡️Regulation | FCA, CySEC, DIFC, DFSA, CIMA |
🌎Country of regulation | United Kingdom, Hong Kong, and Cyprus |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes |
🔋Investor Protection Schemes | Yes (varies by regulatory body) |
Account Types and Features | |
➕Accounts | Fixed Account, Classic Account, Raw Account |
💳Institutional Accounts | Yes |
👨💼Managed Accounts | Yes |
📇Minor account currencies | EUR, USD, GBP, RUB, AED, CAD |
💰Minimum Deposit | $100 USD / R1806 ZAR |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | 1-3 business days |
🪙Fund Withdrawal Fee | None |
📊Spreads from | 0.2 pips |
💸Commissions | Variable (depends on account type) |
💱Number of base currencies supported | 40+ |
🚀Swap Fees | Applicable, varies by instrument |
📈Leverage | 1:30 |
📏Margin requirements | Varies by instrument and leverage |
☪️Islamic account (swap-free) | Yes |
💻Demo Account | Yes |
⌛Order Execution Time | Milliseconds |
📆VPS Hosting | Available for clients |
Trading Instruments | |
🧾CFDs-Total Offered | 300+ |
🗠CFD Stock Indices | Yes |
⚖️CFD Commodities | Yes |
📜CFD Shares | Yes |
Deposits and Withdrawals | |
💳Deposit Options | Debit/credit card (Visa or Mastercard), Skrill, Neteller, Webmoney, China Union Pay, Interac or wire transfer |
💵Withdrawal Options | Debit/credit card (Visa or Mastercard), Skrill, Neteller, Webmoney, China Union Pay, Interac or wire transfer |
Trading Platforms and Tools | |
💻Trading Platforms | MetaTrader 4, MetaTrader 5, WebTrader |
👩💻OS Compatibility | Windows, Mac, Mobile (iOS, Android) |
🖥️Forex trading tools | Yes |
Customer Support | |
🗣️Live chat availability | Yes 24/5 |
📱Customer Support email address | accounts@hycm.com |
📞Customer Support Contact Number | +442088167812 |
👾Social media Platforms | Facebook, Twitter, |
🗣️Languages supported on Website | Multiple |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Articles, guides, tutorials |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | 41 000 |
📋IB Program | Yes |
🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
🪙Rebate program | Yes |
👉Open Account | 👉 Open Account |
Fees, Spreads, and Commission
🔎 HYCM Account | 🥇 Fixed | 🥈 Classic | 🥉 Raw |
💰 Min. Deposit | $100 USD | $100 USD | 📌 $200 USD |
💵 Deposit Fee | None | None | None |
💳 Withdrawal Fee | None | None | None |
📈 Spreads | Fixed | Variable | Raw |
📊 Spreads from | 1.5 Pips | 1.2 Pips | 0.1 Pips |
💵 Commission | None | None | + $4 per round |
🚀 Open an Account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Low forex and CFD fees | Only forex and CFD products |
Great educational content | Outdated platform design |
User-friendly | Inactivity fee |
Our Findings
HYCM is known for offering competitive spreads, making it a strong contender among low-spread forex brokers.
With spreads starting from 0.1 pips on major pairs like EUR/USD for its Raw account, HYCM provides a cost-effective trading environment.
This low-spread offering, combined with the broker’s fast execution speeds and access to a wide range of financial instruments, makes HYCM appealing to new and experienced traders.
8. Pepperstone
Pepperstone is one of the best forex brokers for beginners and the world’s largest forex broker, trusted by over 300,000 traders worldwide.
It is also ASIC, BaFin, CMA, CySEC, DFSA, FCA, and SCB-regulated, and It keeps its client funds in segregated accounts with tier 1 banks.
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trading with Pepperstone will involve fees starting at USD 7, spreads starting at 0.6 pips, and commission-free trading, depending on the account traders select.
Featured
🔎Broker | Pepperstone |
Company Information | |
📅Year Founded | 2010 |
🧑🏻💻Amount of staff | 300+ |
👩💻Amount of active traders | 300,000+ |
🌐Publicly Traded (Listed Company) | No |
Regulation and Security | |
🛡️Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
🌎Country of regulation | Australia, UK, Dubai, Bahamas, Kenya |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes |
🔋Investor Protection Schemes | FSCS (UK clients) |
Account Types and Features | |
💳Institutional Accounts | No |
👨💼Managed Accounts | Yes (MAM/PAMM) |
📇Minor account currencies | USD, EUR, GBP, AUD, JPY, CHF |
💰Minimum Deposit | $0 USD |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | 1-3 business days |
🪙Fund Withdrawal Fee | No fees |
📊Spreads from | 0.0 pips |
💸Commissions | From $3.50 per lot (Razor Account) |
💱Number of base currencies supported | 10+ |
🚀Swap Fees | Applicable (except Islamic accounts) |
📈Leverage | Up to 1:500 |
📏Margin requirements | Varies by asset |
☪️Islamic account (swap-free) | Yes |
💻Demo Account | Yes |
⌛Order Execution Time | 30ms |
📆VPS Hosting | Yes |
Trading Instruments | |
🧾CFDs-Total Offered | 1,200+ |
🗠CFD Stock Indices | 15+ |
⚖️CFD Commodities | 25+ |
📜CFD Shares | 900+ |
Deposits and Withdrawals | |
💳Deposit Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
💵Withdrawal Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
Trading Platforms and Tools | |
💻Trading Platforms | MT4, MT5, cTrader |
👩💻OS Compatibility | Windows, macOS, Android, iOS |
🖥️Forex trading tools | Smart Trader Tools, Autochartist, VPS |
Customer Support | |
🗣️Live chat availability | Yes |
📱Customer Support email address | support@pepperstone.com |
📞Customer Support Contact Number | +44 203 097 8755 |
👾Social media Platforms | Facebook, Twitter, Instagram, YouTube |
🗣️Languages supported on Website | 10+ |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Articles, videos, webinars, tutorials |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | 1,000+ |
📋IB Program | Yes |
🪙Rebate program | Yes |
👉Open Account | 👉 Open Account |
Fees, Spreads, and Commission
🔎 Broker | 🥇 Pepperstone |
💰 Min Deposit | $0 USD |
🔁 Spreads from | 0.6 Pips |
📈 Leverage | 500:1 |
🌗 Overnight Fees | Varies |
💵 Commission | $7 Per Standard Lot |
💷Deposit Fee | No |
💶 Withdrawal Fee | No |
🚀 Open an Account | 👉 Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Fast Account Opening | Mostly CFDs Offered |
Excellent Customer Support | Basic MetaTrader Platform |
Negative Balance Protection | No Managed Accounts |
Our Findings
Pepperstone’s unusually low spreads have made it the preferred option for those conscious of the cost of forex trading.
Pipestone provides some of the most competitive pricing models any industry would see, with spreads that begin at 0.0 pips for major currency pairs such as EUR/USD on its Razor account.
9. City Index
City Index is an award-winning, multi-asset financial services provider that offers exceptional execution speed, a global presence, and Market-leading spreads on major indices.
Min Deposit
USD 0
Regulators
FCA
Trading Platform
MT4, WebTrader
Crypto
Yes
Total Pairs
84
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Trading with the City Index will involve fees starting at USD 1, spreads starting at 1.0 pips, and commission-free trading, depending on the account traders select.
Featured
Company Information | |
📅Year Founded | 1983 |
🧑🏻💻Amount of staff | Over 3,000 |
👩💻Amount of active traders | Over 1 million |
🌐Publicly Traded (Listed Company) | Yes (Part of StoneX Group, listed on NASDAQ) |
Regulation and Security | |
🛡️Regulation | FCA, ASIC, MAS |
🌎Country of regulation | UK, Australia, Singapore |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes, City Index offers negative balance protection to help ensure clients cannot lose more than the funds deposited in their account. |
🔋Investor Protection Schemes | Yes |
Account Types and Features | |
➕Accounts | Standard Account, MT4 Account |
💳Institutional Accounts | Not available for retail traders |
👨💼Managed Accounts | Not offered |
📇Minor account currencies | EUR/GBP, EUR/AUD, GBP/JPY, EUR/JPY, AUD/JPY |
💰Minimum Deposit | From $0 USD |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | 3-10 business days |
🪙Fund Withdrawal Fee | Yes, City Index may charge a withdrawal fee depending on the withdrawal method and currency |
📊Spreads from | 0.5 pips |
💸Commissions | Yes |
💱Number of base currencies supported | 100 units |
🚀Swap Fees | Overnight financing fees apply |
📈Leverage | Up to 1:30 |
📏Margin requirements | 3.3% |
☪️Islamic account (swap-free) | No |
💻Demo Account | Yes |
⌛Order Execution Time | fast (average under seconds) |
📆VPS Hosting | Not offered |
Trading Instruments | |
🧾CFDs-Total Offered | Over 6,000 |
🗠CFD Stock Indices | Over 20 |
⚖️CFD Commodities | Over 25 |
📜CFD Shares | 6,300+ |
Deposits and Withdrawals | |
💳Deposit Options | Credit/debit cards, bank transfers, electronic wallets (Skrill, Neteller etc.) |
💵Withdrawal Options | Credit/debit cards, bank transfers, electronic wallets (Skrill, Neteller etc.) |
Trading Platforms and Tools | |
💻Trading Platforms | Web Trader, Mobile App (iOS & Android), TradingView, MT4 |
👩💻OS Compatibility | Web Trader, Mobile App (iOS & Android), TradingView, MT4 |
🖥️Forex trading tools | Yes |
Customer Support | |
🗣️Live chat availability | Yes, 24/5 |
📱Customer Support email address | support.uk@cityindex.com - Singapore: support.sg@cityindex.com - Australia: support.au@cityindex.com |
📞Customer Support Contact Number | UK: 0203 194 1801 Australia: 1800 354 182 |
👾Social media Platforms | Facebook, Twitter |
🗣️Languages supported on Website | English |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Yes |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | Not displayed |
📋IB Program | Not offered |
🏃♂️➡️Do they sponsor any notable events or teams? | Yes, City Index has sponsorship deals with some notable sporting teams. For instance, they have a three-year partnership with the Sydney Roosters NRL and NRLW programs [Roosters Announce New NRL and NRLW Partnership with City Index]. |
🪙Rebate program | Yes, earn monthly cash rebates |
South African Trader Specific Information | |
Does City Index Accept South African Traders? | No |
Is City Index regulated by the South African regulatory body (FSCA)? | No |
Does City Index offer an Affiliate Program for South African Traders? | No |
Does City Index allow opening trading accounts in ZAR (South African Rand)? | No |
👉Open Account | Open Account |
Fees, Spreads, and Commission
🔎 Broker | 🥇 CityIndex |
💰 Minimum Deposit | $0 USD |
🔁 Spreads from | 1.0 Pips |
🪙 Inactivity fee | Yes |
📈 Leverage up to | 400:1 |
🚀 Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌Cons |
Low Forex Fees | Limited Product Portfolio |
Fast Account Opening | High Stock CFD fees |
Diverse research tools | Limited account selection |
Our Findings
In conclusion, City Index offers competitive spreads, and it is a good choice for traders who want to keep their costs low.
Specifically, EUR/USD can spread as low as 0.5 pips when trading with this broker on major currency pairs.
10. FXTM
FXTM is a global CFD and FX broker that is regulated by several financial authorities across the globe.
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
Depending on the account traders select, trading with FXTM will involve fees from USD 0.4, Spreads from 0.0 Pips, and commission-free trading.
The minimum deposit amount required to register an FXTM live trading account ranges from USD 10 to USD 500.
Featured
🔎Broker | FXTM |
Company Information | |
📅Year Founded | 2011 |
🧑🏻💻Amount of staff | 700+ |
👩💻Amount of active traders | Over 3 million |
🌐Publicly Traded (Listed Company) | No |
Regulation and Security | |
🛡️Regulation | FCA, FSCA, FSC |
🌎Country of regulation | UK, South Africa, Mauritius |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes |
🔋Investor Protection Schemes | ICF (Investor Compensation Fund) |
Account Types and Features | |
💳Institutional Accounts | Yes |
👨💼Managed Accounts | Yes (PAMM accounts) |
📇Minor account currencies | USD, EUR, GBP, AUD, ZAR |
💰Minimum Deposit | $200 / R3709 |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | 1-2 business days |
🪙Fund Withdrawal Fee | Varies by method |
📊Spreads from | 0.1 pips |
💸Commissions | From $4 per lot (on certain accounts) |
💱Number of base currencies supported | 7 |
🚀Swap Fees | Applicable |
📈Leverage | Up to 1:2000 |
📏Margin requirements | Varies based on leverage and asset |
☪️Islamic account (swap-free) | Yes |
💻Demo Account | Yes |
⌛Order Execution Time | 0.01 seconds |
📆VPS Hosting | Yes |
Trading Instruments | |
🧾CFDs-Total Offered | 250+ |
🗠CFD Stock Indices | 11 |
⚖️CFD Commodities | 6 |
📜CFD Shares | 120+ |
Deposits and Withdrawals | |
💳Deposit Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
💵Withdrawal Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
Trading Platforms and Tools | |
💻Trading Platforms | MT4, MT5, FXTM Trader App |
👩💻OS Compatibility | Windows, macOS, Android, iOS |
🖥️Forex trading tools | Trading signals, VPS, economic calendar |
Customer Support | |
🗣️Live chat availability | Yes |
📱Customer Support email address | support@fxtm.com |
📞Customer Support Contact Number | +44 203 734 1071 |
👾Social media Platforms | Facebook, Twitter, Instagram, YouTube |
🗣️Languages supported on Website | 15+ |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Articles, tutorials, videos, webinars |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | 3,000+ |
📋IB Program | Yes |
🪙Rebate program | Yes |
👉Open Account | 👉 Open Account |
Fees, Spreads, and Commission
🔎 Account | 🥉 ADVANTAGE STOCKS | 🥈 ADVANTAGE | 🥇 ADVANTAGE PLUS |
💰 Minimum Deposit | USD 200 / 3631 ZAR | USD 200 / 3631 ZAR | USD 200 / 3631 ZAR |
🔁 Spreads from | From 6 cents | From 0.0 | From 1.5 |
💳 Commission | Zero | $3.5 per lot traded on FX $25 per million notional on Spot Metals $35 per million notional on Index CFDs and Commodity CFDs 0.05% of the notional value for Cryptocurrency CFDs $0.02 per side / lot traded on Stock CFDs - minimum commission $0.01 | Zero |
📈 Leverage | 1:1, no leverage offered | Up to 1:3000 | Up to 1:3000 |
🚀 Open an Account | 👉Open Account | 👉Open Account | 👉Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
One of the best Forex Brokers worldwide | Withdrawal fee |
Regulated by the CySEC and several other Forex authorities | High Stocks trading Spread |
Our Findings
Fairly priced spreads have made FXTM popular, especially for traders interested in cutting their expenses.
FXTM offers an attractive way to reduce transaction costs with minor currency pairs’ spreads below 0.1 pips in its ECN account, such as EUR/USD.
Regulation of Forex Brokers: A Technical Analysis
Forex brokers play a crucial role in facilitating currency trading, but their activities can be risky for traders.
To mitigate these risks and ensure a fair and transparent trading environment, regulatory bodies like the Financial Sector Conduct Authority (FSCA) in South Africa play a vital role.
Importance of Regulation:
- Trader Protection: FSCA regulation mandates brokers adhere to strict financial standards, safeguarding client funds through segregated accounts, capital adequacy requirements, and reserved rights. This minimizes the risk of broker insolvency or misappropriation of funds.
- Market Integrity: Regulatory frameworks establish guidelines for fair and transparent trading practices. This includes preventing price manipulation, ensuring accurate order execution, and prohibiting conflicts of interest.
- Dispute Resolution: Regulated brokers are subject to oversight and grievance redressal mechanisms, which provide traders with avenues to seek recourse in case of disputes or malpractice.
Regulatory Landscape:
Beyond the FSCA, other prominent regulatory bodies include the UK’s Financial Conduct Authority (FCA) and Australia’s ASIC.
Each regulator has its own set of rules and requirements, but they share common objectives of investor protection and market integrity.
Considerations for Technical Analysts:
- Technical analysts, who rely on chart patterns and indicators to make trading decisions, should factor regulatory aspects into their analysis.
- Understanding a broker’s regulatory standing and the applicable rules can help assess potential risks and identify trading opportunities.
The Risks of Forex Trading: A Technical Analyst’s Perspective
Forex trading encompasses several unique risk factors beyond simple market fluctuations, demanding careful consideration before entering the market.
Leverage and Margin Calls:
One defining feature of forex trading is leverage, allowing traders to control larger positions with a smaller initial investment. While this amplifies potential profits, it also magnifies losses proportionally.
Technical analysts must constantly assess their chosen leverage ratio, balancing potential rewards against the amplified risk of margin calls. A margin call occurs when a trader’s account equity falls below a certain threshold, forcing them to deposit additional funds or face automatic liquidation of their positions.
These sudden forced exits can be particularly detrimental for technical strategies relying on longer-term trends.
Market Volatility:
Forex markets are known for their high volatility. Economic data releases, central bank decisions, and geopolitical events trigger rapid price movements.
While technical analysis tools can help identify potential entry and exit points, unforeseen volatility can disrupt even the most meticulously planned strategies.
Technical analysts must consider historical and current market volatility when formulating their analysis and risk management measures.
Suitability for Investors:
While technical analysts are equipped with analytical skills, they must also possess the temperament and risk tolerance to handle potentially significant losses.
Forex trading requires emotional discipline, adherence to trading plans, and adjusting strategies in unexpected market movements.
Individuals with limited financial resources or a short-term investment outlook are likely better suited for less volatile instruments.
Trading Strategies in Forex
To enhance their capabilities, it is crucial to explore various strategies, strengths, and weaknesses and experience prerequisites in depth.
Common Forex Trading Strategies:
Trend Trading: This strategy capitalizes on established directional movements to ride out long-term trends. Technical analysts utilize trend indicators like moving averages and MACD to identify trend direction and potential entry/exit points. While potentially lucrative, trend trading requires patience, risk management, and adapting to trend reversals.
Range Trading:
This strategy focuses on profiting from price fluctuations within established trading ranges. Technical analysts rely on support and resistance levels, Bollinger Bands, and Keltner Channels to identify range boundaries and potential breakout points. Navigating false breakouts requires discipline and tight stop-loss placement.
Scalping:
This strategy involves taking numerous small profits from rapid price movements. Technical analysts often employ short-term indicators like oscillators and tick charts to identify fleeting trading opportunities. Demands exceptional discipline, lightning-fast reaction times, and a robust understanding of order execution costs.
Counter-Trend Trading:
This strategy seeks to profit from short-term reversals within established trends. Technical analysts utilize divergence indicators, pivot points, and chart patterns to identify potential counter-trend opportunities. Requires advanced technical skills, risk management prowess, and the ability to handle psychological pressure.
Experience and Suitability:
The level of expertise required for each strategy varies considerably.
Trend and range trading is generally suitable for beginners with solid technical analysis skills.
Conversely, scaling and counter-trend trading demand extensive experience, advanced technical knowledge, and exceptional emotional control.
Technical analysts should carefully assess their skills and risk tolerance before choosing a strategy.
Technical and Fundamental Analysis for Beginners
Imagine forex trading like sailing across a vast ocean.
Technical analysis is your compass and chart, helping you navigate short-term price movements based on past patterns and trends.
Fundamental analysis is your weather reports and news updates, informing you about larger forces influencing the market’s long-term direction.
Technical Analysis: Think of it as reading the waves and wind patterns. You use tools like indicators (think flashing lights and flags) to identify potential entry and exit points:
- Moving Averages: Like smoothed trendlines, they show the average price over a set period, hinting at potential support and resistance levels.
- MACD: This tool helps spot momentum and potential trend reversals, like a shift in wind direction.
- Bollinger Bands: These act like guardrails, highlighting high- and low-volatility areas, such as calm or stormy seas.
Remember, technical analysis doesn’t predict the future with certainty but helps you make informed decisions based on past behavior.
While technical analysis focuses on the waves, fundamental analysis dives deeper, studying the ocean. It involves analyzing factors like:
- Economic data: Employment rates, inflation, and GDP can impact currency values, just like strong currents.
- Central bank decisions: Interest rate changes and policy announcements can be like powerful storms, causing significant price movements.
- Political events: Elections, trade deals, and international tensions can be like unexpected squalls, influencing market sentiment.
Fundamental analysis helps you understand the “why” behind currency movements, offering valuable insights for long-term trading strategies.
Conclusion
Regarding the best, lowest-spread forex brokers, SA Shares highlights several key players in the industry that cater to South African traders.
Brokers like Exness, Tickmill, and IC Markets stand out for offering competitive spreads, especially for major currency pairs.
These brokers combine low-cost trading environments with high regulation standards, ensuring both affordability and safety for traders.
Choosing a broker with low spreads is essential for cost-effective trading, and these platforms offer a solid balance of low fees, reliable execution, and strong customer support.
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Frequently Asked Questions
What are the advantages of using a lowest spread forex broker?
The main advantage of using a lowest spread forex broker is that you can save money on trading costs, increasing your overall profitability. Additionally, the lowest spreads can result in faster trade executions, which can be important for scalping or day trading strategies.
Are there any disadvantages to using a lowest-spread forex broker?
One potential disadvantage of using a lowest-spread forex broker is that they may charge higher commission or account maintenance fees to offset their lowest-spread offering. Some lowest-spread brokers may also have fewer trading features or research tools than others.
How can I find a reliable, lowest-spread forex broker?
To find a reliable lowest-spread forex broker, you can research various brokers, compare their spreads and other features, and read reviews from other traders. It’s also important to check if a reputable authority regulates the broker and offers secure trading platforms.
Can I still trade with high leverage using a lowest spread forex broker?
You can still trade with high leverage using a lowest spread forex broker. However, it’s essential to use caution when trading with high leverage, as it can increase your potential losses and profits.
What should I consider before choosing a lowest spread forex broker?
Before choosing the lowest spread forex broker, you should consider the broker’s reputation, regulatory compliance, trading platforms, trading fees, and other essential features of your trading strategy. It’s also a good idea to open a demo account and test the broker’s trading platform and services before depositing real funds.
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