All Share (J203) = 88 342
Rand / Dollar = 18.57
Rand / Pound = 23.38
Rand / Euro = 19.37
Gold (usd/oz) = 2 936.83
Platinum (usd/oz) = 978.50
Brent (usd/barrel) = 76.67
Trade +10,000 CFDs with Tight Raw Spreads. – Trade Now!

10 Best Lowest Spread Forex Brokers

Lowest Spread Forex Brokers Banner

 

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 Account0.86 Pips$0 USDR0 ZAR
2️⃣ HFM👉 Open Account0.0 Pips$5 USDR85 ZAR
3️⃣ CMC Markets👉 Open Account0.51 Pips$0 USDR0 ZAR
4️⃣ FP Markets👉 Open Account1.2 Pips$100 USDR1808 ZAR
5️⃣ IC Markets👉 Open Account0.62 Pips$200 USDR3615 ZAR
6️⃣ Tickmill👉 Open Account0.51 Pips$100 USDR1808 ZAR
7️⃣ HYCM👉 Open Account0.6 Pips$100 USDR1808 ZAR
8️⃣ Pepperstone👉 Open Account0.17 Pips$200 USDR3615 ZAR
9️⃣ City Index👉 Open Account0.80 Pips$0 USDR0 ZAR
🔟 FXTM👉 Open Account0.3 Pips$10 USDR181 ZAR

 

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, CySEC, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

CySEC, FCA, FSA, FSCA

$100

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

CySEC, ASIC, FSA, BVI, FSCA

$25

#7

ASIC, CySEC, FSA, SCB

$200

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#9

FCA, CySEC, FSCA, SCB

$100

#10

FSCA, FSC, ASIC, CySEC, DFSA

$5

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.0/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.5/5

User Score

#10

4.9/5

User Score

 

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)

  1. ☑️IG – Overall, the Best Spread Forex Broker in South Africa
  2. ☑️HFM – Ultra-competitive Low Spread Broker
  3. ☑️CMC Markets – Best Execution Low Spread Forex Broker
  4. ☑️FP Markets – Best Online Trading Experience
  5. ☑️IC Markets – Raw Spreads Account with Spreads from 0.0 Pips
  6. ☑️TickmillMT5 Broker with Low Spreads
  7. ☑️HYCM – High User Trust Score
  8. ☑️Pepperstone – Best Low Spread Forex Broker for Beginners
  9. ☑️City Index – Best Broker for Consistent Pricing
  10. ☑️FXTMMT4 Broker with Low Spreads

 

1. IG

IG Review

 

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

🔎BrokerIG
Company Information
📅Year Founded1974
🧑🏻‍💻Amount of staffOver 1,000
👩‍💻Amount of active tradersOver 239,000
🌐Publicly Traded (Listed Company)Yes, listed on the London Stock Exchange (LSE)
Regulation and Security
🛡️RegulationRegulated by multiple financial authorities including FCA (UK),
ASIC (Australia), and others
🌎Country of regulationSouth Africa,
United States,
UK
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
(under FCA and ASIC regulations)
Account Types and Features
➕AccountsInstitutional and
Retail corporate clients
💳Institutional AccountsYes
👨‍💼Managed AccountsNo
📇Minor account currenciesUSD,
EUR,
GBP,
AUD,
CAD,
JPY,
and others
💰Minimum Deposit$0 USD
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeNo
📊Spreads from0.6 pips
💸CommissionsVariable
💱Number of base currencies supportedOver 50
🚀Swap FeesYes (varies by account type)
📈LeverageUp to 200:1
📏Margin requirementsFrom 0.5% for forex, 5% for shares and margin factor for indices
☪️Islamic account (swap-free)No
💻Demo AccountYes
⌛Order Execution Time< 1 second
📆VPS HostingNo
Trading Instruments
🧾CFDs-Total Offered16000+
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Deposits and Withdrawals
💳Deposit OptionsBank transfer, credit/debit cards,
e-wallets
💵Withdrawal OptionsBank transfer, credit/debit cards,
e-wallets
Trading Platforms and Tools
💻Trading PlatformsIG Trading Platform, MetaTrader 4,
👩‍💻OS CompatibilityWindows,
macOS,
Web,
Mobile
(Android, iOS)
🖥️Forex trading toolsTrading signals,
economic calendar,
charting tools
Customer Support
🗣️Live chat availabilityYes
📱Customer Support email addressnewaccounts.za@ig.com.
📞Customer Support Contact Number010 500 8624
👾Social media PlatformsFacebook,
Twitter,
Instagram
🗣️Languages supported on WebsiteEnglish,
Spanish,
Chinese,
and others
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesTrading Academy,
webinars,
market analysis
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersNot specified
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programNo
👉Open Account👉 Open Account

 

Fees, Spreads, and Commission

🔎 Broker🥇 IG
💵 Minimum Deposit$0 USD
📈 Average Spread0.3
💳 Withdrawal FeeNo
💷 Inactivity FeeYes
📊 CommissionsVariable
🚀 Open an Account👉 Open Account

 

IG Fees, Spreads, and Commission

 

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 pairsCharges an inactivity fee after two years of no activity
Offers MetaTrader 4 (MT4), ProRealTime, and its proprietary platformSpreads can widen during volatile market conditions
Includes Forex, stocks, indices, commodities, and cryptocurrenciesLeverage limits are lower in regions like Europe and Australia due to regulations
Extensive library of webinars, tutorials, and market analysisCryptocurrency CFD trading is restricted in certain areas (like the UK)
No minimum deposit for bank transfers in certain regionsFees for withdrawals via PayPal and credit cards in some regions
Provides protection against extreme market volatilitySome 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 reputationLacks promotional offers like deposit bonuses or cashbacks
24/5 customer service and support across multiple languagesAdvanced features and tools may feel complex for new traders
Offers social trading features and trading signalsDoesn'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 Review

 

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 Founded2010
👩‍💼👨‍💼 Current CEOGeorge Koumantaris
👩‍💼👨‍💼 Founder/sGeorge Koumantaris, Marcos Kappos
👥 Amount of staff200+ globally
👨‍💻 Amount of active tradersOver 2 million
📈 Publicly Traded (Listed Company)No
Regulation and Security
🇬🇧 RegulationFCA (UK), FSCA (South Africa), CySEC (Cyprus), DFSA (Dubai), FSA (Seychelles)
🇬🇧 Country of regulationUnited Kingdom, South Africa, Cyprus, Dubai, Seychelles
💼 Account SegregationYes, client funds are kept in segregated accounts
🚫 Negative balance protectionYes, available to retail clients
🔐 Two-step AuthenticationYes, supports 2FA for extra account security
🛡️ Investor Protection SchemesYes, clients are protected under the Investor Compensation Fund (ICF) in Europe
Account Types and Features
🏦 Institutional AccountsYes, available for institutional clients
📊 Managed AccountsYes, PAMM and MAM accounts are offered
💱 Minor account currenciesUSD, EUR, ZAR, NGN, GBP, and more
💰 Minimum DepositUSD 0 / 0 ZAR
Trading Conditions
⏳ Average deposit/withdrawal processing timeDeposits: Instant; Withdrawals: 1-3 business days
💵 Fund Withdrawal FeeNo fees for most methods, but some third-party charges may apply
📉 Spreads fromAs low as 0.1 pips on the Zero Spread account
💸 Commissions$3 per lot on Zero Spread accounts
🌍 Number of base currencies supported10+ (including USD, EUR, ZAR, NGN, and GBP)
📈 Swap FeesSwap fees vary by instrument, but Islamic (swap-free) accounts are available
📈 LeverageUp to 1:1000 depending on the jurisdiction and account type
📊 Margin requirementsStarting at 0.5%, varies by asset class and leverage level
🌙 Islamic account (swap-free)Yes, available for all account types
🎓 Demo AccountYes, unlimited free demo accounts
⏱️ Order Execution Time< 1 second on average
☁️ VPS HostingYes, free VPS for qualifying traders
🌍 Global OfficesMultiple locations worldwide: Cyprus, UK, Dubai, South Africa, Seychelles
👆 One-Click TradingYes, available on MT4 and MT5 platforms
🤖 Expert AdvisorsYes, fully supported on MT4 and MT5
Trading Instruments
📊 CFDs-Total Offered1,200+ CFDs
📈 CFD Stock IndicesYes, 15+ indices available
🛢️ CFD CommoditiesYes, includes Gold, Oil, and Silver
📉 CFD SharesYes, 50+ global stocks
👀 Watch listYes, customizable watchlists
🔔 Trade AlertsYes, available through the platforms
📈 Trading Stocks with GPYes, stock trading is available via CFDs
📊 Trading Indices with GPYes, index trading via CFDs available
🛠️ Swap on trading boardYes, swaps are visible on the trading platforms
Deposits and Withdrawals
💳 Deposit OptionsCredit/Debit Card, Bank Transfer, E-wallets (Skrill, Neteller), Crypto
💸 Withdrawal OptionsBank Transfer, Credit/Debit Card, E-wallets (Skrill, Neteller), Crypto
🎁 Welcome BonusYes, 100% SuperCharged Bonus available
Trading Platforms and Tools
💻 Trading PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), HFM mobile app
🚦 Stop-loss InstrumentYes, fully supported
🛡️ Investor Protection SchemesYes, as per regulation, compensation schemes apply
🖥️ OS CompatibilityWindows, Mac, Linux, Android, iOS
🔧 Forex trading toolsYes, Autochartist, Trading Central, and more
💬 Customer Support
💬 Live chat availabilityYes, 24/5 live chat support
📧 Customer Support Email addresssupport@hfm.com
📞 Customer Support Contact Number+44 123 456 7890
🌐 Languages supported on HFM WebsiteEnglish, Afrikaans, Arabic, Chinese, and more
Educational Resources and Support
👍 Beginners Trader friendly UXYes, beginner-friendly platform design
📚 Forex courseYes, free educational courses available
🖥️ WebinarsYes, regular free webinars provided
📖 Educational ResourcesYes, includes tutorials, eBooks, and market analysis
Partnerships and Programs
🤝 Affiliate program?Yes, generous affiliate program offered
🤝 Amount of partners1,000+ affiliates globally
📈 IB ProgramYes, multi-tier IB (Introducing Broker) program available
⚽ Do they sponsor any notable events or teams?Yes, HFM sponsors various sports teams and events
💰 Rebate programYes, rebate program for active traders
🗨️ Community ForumYes, online trader community and forum available
Social Media Platforms
🌐 Official Website addresshfm.com
📘 Official Facebook PageHFM Facebook
🐦 Official Twitter PageHFM Twitter
📺 Official YouTube ChannelHFM YouTube
🔗 Official Linkedin PageHFM LinkedIn
📸 Official Instagram PageHFM 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 from0.0 Pips
💰 Minimum Deposit$5
💳 CommissionFrom $0.03 per $1,000 lot
🚀 Open an Account👉 Open Account

 

HFM

 

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 1:2000Fees applicable when the account has been unused
Fast execution: Quick trades with low delaysBonus restrictions: Bonuses vary by region
Strong regulation: FCA, FSCA, CySEC, DFSA, FSATransparency 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 Review

 

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

🔎BrokerCMC Markets
Company Information
📅 Year Founded1989
Current CEOLord Kirkpatrick
Founder/sPeter Cruddas
🧑🏻‍💻 Amount of StaffApproximately 1,500
👩‍💻 Amount of Active TradersOver 50,000 active traders
🌐 Publicly Traded (Listed Company)Yes, listed on the London Stock Exchange
Regulation and Security
🛡️ RegulationFCA (Financial Conduct Authority)
🌎 Country of RegulationUnited Kingdom
💻 Account SegregationYes, client funds are held in segregated accounts
🪫 Negative Balance ProtectionYes
Two-step AuthenticationYes
Stop-loss InstrumentYes
🔋 Investor Protection SchemesYes, eligible for Financial Services Compensation Scheme (FSCS)
Account Types and Features
➕ AccountsStandard, Professional
💳 Institutional AccountsYes
👨‍💼 Managed AccountsYes
📇 Minor Account CurrenciesMultiple (including ZAR, EUR, GBP, USD, etc.)
💰 Minimum Deposit$0 (for standard account)
Trading Conditions
🕞 Average Deposit/Withdrawal Processing Time1-3 business days for withdrawals
🪙 Fund Withdrawal FeeNone
📊 Spreads FromFrom 0.7 pips
💸 CommissionsNo commissions on forex trades; spreads apply
💱 Number of Base Currencies Supported10+
🚀 Swap FeesApplicable (depends on position and instrument)
📈 LeverageUp to 1:500 (varies by instrument)
📏 Margin RequirementsDepends on the instrument; generally 0.2% - 2%
☪️ Islamic Account (Swap-Free)Yes
💻 Demo AccountYes
⌛ Order Execution TimeTypically 100 ms or less
📆 VPS HostingYes, available for clients
Trading Instruments
🧾 CFDs - Total OfferedOver 10,000
🗠 CFD Stock IndicesYes, multiple global indices available
⚖️ CFD CommoditiesYes, including metals, energy, and agriculture
📜 CFD SharesYes
Watch ListYes
Trade AlertsYes
Trading Indices with GPYes
Trading Stocks with GPYes
Swap on Trading BoardYes
Deposits and Withdrawals
💳 Deposit OptionsBank transfer, credit/debit cards, PayPal
💵 Withdrawal OptionsBank transfer, credit/debit cards
Welcome BonusNot commonly offered
Trading Platforms and Tools
💻 Trading PlatformsCMC Markets Trading Platform, MT4
👩‍💻 OS CompatibilityWindows, macOS, iOS, Android
🖥️ Forex Trading ToolsAdvanced charting tools, trading signals
Customer Support
🗣️ Live Chat AvailabilityYes
📱 Customer Support Email Addresssupport@cmcmarkets.com
📞 Customer Support Contact Number+44 20 7170 8200
👾 Social Media PlatformsFacebook, Twitter, LinkedIn, Instagram
🗣️ Languages Supported on WebsiteEnglish, Spanish, French, German, and more
Educational Resources and Support
Beginners Trader Friendly UXYes
🖺 Forex CourseYes, various online courses available
🧏‍♀️ WebinarsYes, regular webinars on trading strategies
📚 Educational ResourcesExtensive library available
Partnerships and Programs
🪪 Affiliate Program?Yes
👨‍🏫 Amount of PartnersMultiple partners globally
📋 IB ProgramYes
🏃‍♂️‍➡️ Do They Sponsor Notable Events/Teams?Yes, various sponsorships
🪙 Rebate ProgramYes
Commission FeeN/A (no commissions on forex trades)
Social Platforms
Official Facebook PageYes
Official Twitter PageYes
Official YouTube ChannelYes
Official LinkedIn PageYes
Official Instagram PageYes
Official Website AddressYes
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 From0.3 Points0.3 Points0.3 Points
💳 CommissionsShares OnlyShares Only No
💸 Min. CommissionsShares Only - From $10Shares Only - From $10 No
🌒 Overnight Holding FeesYesYesYes
📊 Market Data FeesYesYesNo
🆓 Demo AccountYes📌 NoYes
🚀 Open an Account👉 Open Account👉 Open Account👉 Open Account

 

CMC Markets

 

Pros and Cons

✅ Pros❌ Cons
Highly regulated by FCA, ASIC, and other top-tier regulatorsCharges an inactivity fee after 12 months of no trading activity
Offers over 10,000 tradable instruments, including Forex, indices, commodities, and stocksOnly offers MetaTrader 4 (MT4) and proprietary platform Next Generation
Tight spreads, especially on major Forex pairsSpreads can widen during high market volatility
Proprietary platform (Next Generation) is feature-rich with advanced charting toolsThe 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 volatilityFewer cryptocurrency offerings compared to other brokers
High-quality execution with no dealing desk interventionWithdrawal fees may apply for non-bank transfer methods like PayPal
Extensive educational materials, webinars, and market analysisResearch features, though solid, could be enhanced for deeper market analysis
Ensures clients cannot lose more than their balanceLeverage 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 Review

 

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

🔎BrokerFP Markets
Company Information
📅Year Founded2005
🧑🏻‍💻Amount of staff274
👩‍💻Amount of active tradersOver 200,000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationASIC, CySEC, FSCA, FSA, FSC, CMA
🌎Country of regulationAustralia, Cyprus
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsStandard, Raw ECN, and VIP accounts available
💳Institutional AccountsYes, tailored solutions for institutional clients
👨‍💼Managed AccountsYes, offered through third-party managed account services
📇Minor account currenciesUSD, EUR, GBP, AUD, JPY, and others
💰Minimum Deposit$100 / R1806
Trading Conditions
🕞Average deposit/withdrawal processing timeDeposits are typically processed instantly; withdrawals usually within 1-2 business days
🪙Fund Withdrawal FeeGenerally no fees for withdrawals; may vary based on method
📊Spreads fromSpreads start from 0.0 pips on Raw ECN accounts
💸CommissionsFrom $3.5 per side per lot on Raw ECN accounts
💱Number of base currencies supportedOver 10 base currencies including USD, EUR, GBP, AUD, JPY, and others
🚀Swap FeesSwap fees apply; may vary depending on the position and account type
📈LeverageUp to 1:500 depending on the account type and instrument
📏Margin requirementstypically 0.2% - 1%
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeTypically 40-50 milliseconds on Raw ECN accounts
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 1,000 CFDs across various asset classes
🗠CFD Stock IndicesYes,Major global indices including S&P 500, NASDAQ, FTSE 100, DAX, and more
⚖️CFD CommoditiesYes, Includes commodities such as Gold, Silver, Oil, Natural Gas, and more
📜CFD SharesYes, A wide range of global stocks from major markets including US, UK, EU, and Asia
Deposits and Withdrawals
💳Deposit OptionsCredit/Debit Cards, Bank Transfers, PayPal, Skrill, Neteller, and other e-wallets
💵Withdrawal OptionsBank Transfers, Credit/Debit Cards, PayPal, Skrill, Neteller, and other e-wallets
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS, cTrader, WebTrader and TradingView
👩‍💻OS CompatibilityWindows, Mac (via emulation), Android, iOS
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes, available 24/7
📱Customer Support email addresssupport@fpmarkets.com
📞Customer Support Contact Number+61 2 8252 6800 (Australia) or +44 20 8068 0760 (UK)
👾Social media PlatformsFacebook, Twitter, Instagram
🗣️Languages supported on WebsiteEnglish, Chinese, Arabic, and other major languages
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersOver 100,000 affiliates
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
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 AccountOpen Account

 

Fees, Spreads, and Commission

🔎 Account🥇 Standard🥈 Raw
💰 Min. Deposit$100 USD$100 USD
🔁 Spreads from1.0 Pips0.0 Pips
📈 Max Leverage500:1500:1
💳 Commission per LotZero$3 USD per side
🚀 Open an Account👉 Open Account👉 Open Account

 

FP Markets Landing Page

 

Pros and Cons

✅ Pros❌ Cons
Forex fees are lowStock CFD fees are high
Accounts can be opened fast and easyProduct portfolio are somewhat limited
Deposit and withdrawal processes are quickly executedWeb 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 Review ZAR

 

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

🔎BrokerIC Markets
Company Information
📅Year Founded2007
🧑🏻‍💻Amount of staffOver 200
👩‍💻Amount of active tradersOver 180,000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationASIC (Australia),
CySEC (Cyprus),
FSA (Seychelles)
🌎Country of regulationAustralia,
Cyprus,
Seychelles
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes, through regulatory bodies
Account Types and Features
💳Institutional AccountsYes
👨‍💼Managed AccountsNo
📇Minor account currenciesEUR,
GBP,
AUD,
CAD,
CHF,
JPY,
NZD,
SGD,
HKD
💰Minimum Deposit$200 / 3607 ZAR
Trading Conditions
🕞Average deposit/withdrawal processing time1-2 business days
🪙Fund Withdrawal FeeNone for most methods
📊Spreads from0.0 pips on Raw Spread accounts
💸Commissions$3.50 per lot per side on Raw Spread accounts
💱Number of base currencies supported10
🚀Swap FeesApplicable
📈LeverageUp to 500:1
📏Margin requirementsVariable based on asset and leverage
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeAverage 40 milliseconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 2300
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Deposits and Withdrawals
💳Deposit OptionsBank Transfer, Credit/Debit Cards,
PayPal,
Skrill,
Neteller,
UnionPay,
others
💵Withdrawal OptionsBank Transfer, Credit/Debit Cards,
PayPal,
Skrill,
Neteller,
UnionPay,
others
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4,
MetaTrader 5,
cTrader,
IC Markets WebTrader
👩‍💻OS CompatibilityWeb-based
(All major browsers), Windows,
macOS,
iOS,
Android
🖥️Forex trading toolsAutochartist,
Trading Central,
ZuluTrade,
Myfxbook,
Advanced charting tools
Customer Support
🗣️Live chat availabilityYes
📱Customer Support email addresssupport@icmarkets.com
📞Customer Support Contact Number+61 2 8014 4280
👾Social media PlatformsFacebook,
Twitter,
LinkedIn,
YouTube
🗣️Languages supported on WebsiteEnglish,
Chinese,
Spanish,
Italian,
French,
more
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesVideo tutorials,
Articles, Webinars,
Market analysis
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersNot publicly disclosed
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?No
🪙Rebate programYes
👉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 from0.0 Pips0.0 Pips0.6 Pips
📈 Leverage1:5001:5001:500
📊 Micro Lot Trading (0.01)YesYesYes
💵 Currency Pairs616161
🚀 Open an Account👉 Open Account👉 Open Account👉 Open Account

 

IC Markets Fees and Spreads

 

Pros and Cons

✅ Pros❌ Cons
Low Forex FeesLimited Product Selection
Easy Account OpeningSlow 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 Review

 

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 Founded2014
🧑🏻‍💻Amount of staff441
👩‍💻Amount of active tradersOver 400 000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFSA, FCA, CySEC, Labuan FSA, FSCA
🌎Country of regulationSeychelles, UK, Cyprus, Malaysia, South Africa
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsPlus account and Raw account
💳Institutional AccountsYes
👨‍💼Managed AccountsYes
📇Minor account currenciesUSD, EUR, GBP, ZAR
💰Minimum Deposit$100 USD
Trading Conditions
🕞Average deposit/withdrawal processing timeInstant to 1 business day
🪙Fund Withdrawal FeeFree, but may vary based on payment method and account type
📊Spreads from0.0 pips
💸CommissionsVaries by account type, often commission-free
💱Number of base currencies supported4
🚀Swap FeesOvernight financing fees apply
📈LeverageUp to 1:1000
📏Margin requirements50%
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeTypically within milliseconds
📆VPS HostingYes, for an additional fee
Trading Instruments
🧾CFDs-Total OfferedOver 725
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Deposits and Withdrawals
💳Deposit OptionsCredit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT)
💵Withdrawal OptionsCredit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT)
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), MetaTrader WebTrader, MetaTrader for Mac, Tickmill Mobile App
👩‍💻OS CompatibilityWindows, macOS, iOS, Android
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/5
📱Customer Support email addresssupport@tickmill.com
📞Customer Support Contact NumberSouth Africa: +278 7250 0696
International: +852 5808 7849
👾Social media PlatformsFacebook, Twitter, Instagram
🗣️Languages supported on Website17 Languages
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners9000+
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
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 AccountOpen 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

 

Tickmill

 

Pros and Cons

✅ Pros❌ Cons
Competitive pricingLimited 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 Review

 

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 Founded1998
🧑🏻‍💻Amount of staffApprox. 200+
👩‍💻Amount of active traders100+
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFCA,
CySEC,
DIFC,
DFSA,
CIMA
🌎Country of regulationUnited Kingdom,
Hong Kong,
and Cyprus
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
(varies by regulatory body)
Account Types and Features
➕AccountsFixed Account,
Classic Account,
Raw Account
💳Institutional AccountsYes
👨‍💼Managed AccountsYes
📇Minor account currenciesEUR,
USD,
GBP,
RUB,
AED,
CAD
💰Minimum Deposit$100 USD / R1806 ZAR
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeNone
📊Spreads from0.2 pips
💸CommissionsVariable (depends on account type)
💱Number of base currencies supported40+
🚀Swap FeesApplicable, varies by instrument
📈Leverage1:30
📏Margin requirementsVaries by instrument and leverage
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeMilliseconds
📆VPS HostingAvailable for clients
Trading Instruments
🧾CFDs-Total Offered300+
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Deposits and Withdrawals
💳Deposit OptionsDebit/credit card
(Visa or Mastercard), Skrill,
Neteller,
Webmoney,
China Union Pay, Interac
or wire transfer
💵Withdrawal OptionsDebit/credit card
(Visa or Mastercard), Skrill,
Neteller,
Webmoney,
China Union Pay, Interac
or wire transfer
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4,
MetaTrader 5,
WebTrader
👩‍💻OS CompatibilityWindows,
Mac,
Mobile
(iOS, Android)
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/5
📱Customer Support email address accounts@hycm.com
📞Customer Support Contact Number+442088167812
👾Social media PlatformsFacebook,
Twitter,
Instagram
🗣️Languages supported on WebsiteMultiple
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesArticles,
guides,
tutorials
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners41 000
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
👉Open Account👉 Open Account

 

HYCM

 

Fees, Spreads, and Commission

🔎 HYCM Account🥇 Fixed🥈 Classic🥉 Raw
💰 Min. Deposit$100 USD$100 USD📌 $200 USD
💵 Deposit FeeNoneNoneNone
💳 Withdrawal FeeNoneNoneNone
📈 SpreadsFixedVariableRaw
📊 Spreads from1.5 Pips1.2 Pips0.1 Pips
💵 CommissionNoneNone+ $4 per round
🚀 Open an Account👉 Open Account👉 Open Account👉 Open Account

 

Pros and Cons

✅ Pros❌ Cons
Low forex and CFD feesOnly forex and CFD products
Great educational contentOutdated platform design
User-friendlyInactivity 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 Review

 

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

🔎BrokerPepperstone
Company Information
📅Year Founded2010
🧑🏻‍💻Amount of staff300+
👩‍💻Amount of active traders300,000+
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationASIC,
BaFin,
CMA,
CySEC,
DFSA,
FCA,
SCB
🌎Country of regulationAustralia,
UK,
Dubai,
Bahamas,
Kenya
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesFSCS
(UK clients)
Account Types and Features
💳Institutional AccountsNo
👨‍💼Managed AccountsYes (MAM/PAMM)
📇Minor account currenciesUSD, EUR, GBP, AUD, JPY, CHF
💰Minimum Deposit$0 USD
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeNo fees
📊Spreads from0.0 pips
💸CommissionsFrom $3.50 per lot (Razor Account)
💱Number of base currencies supported10+
🚀Swap FeesApplicable (except Islamic accounts)
📈LeverageUp to 1:500
📏Margin requirementsVaries by asset
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution Time30ms
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total Offered1,200+
🗠CFD Stock Indices15+
⚖️CFD Commodities25+
📜CFD Shares900+
Deposits and Withdrawals
💳Deposit OptionsCredit/Debit cards,
Bank transfers,
e-wallets
(Skrill, Neteller, etc.)
💵Withdrawal OptionsCredit/Debit cards,
Bank transfers,
e-wallets
(Skrill, Neteller, etc.)
Trading Platforms and Tools
💻Trading PlatformsMT4,
MT5,
cTrader
👩‍💻OS CompatibilityWindows,
macOS,
Android,
iOS
🖥️Forex trading toolsSmart Trader Tools, Autochartist,
VPS
Customer Support
🗣️Live chat availabilityYes
📱Customer Support email addresssupport@pepperstone.com
📞Customer Support Contact Number+44 203 097 8755
👾Social media PlatformsFacebook,
Twitter,
Instagram,
YouTube
🗣️Languages supported on Website10+
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesArticles,
videos,
webinars,
tutorials
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners1,000+
📋IB ProgramYes
🪙Rebate programYes
👉Open Account👉 Open Account

 

Fees, Spreads, and Commission

🔎 Broker🥇 Pepperstone
💰 Min Deposit$0 USD
🔁 Spreads from0.6 Pips
📈 Leverage500:1
🌗 Overnight FeesVaries
💵 Commission$7 Per Standard Lot
💷Deposit FeeNo
💶 Withdrawal FeeNo
🚀 Open an Account👉 Open Account

 

Pepperstone

 

Pros and Cons

✅ Pros ❌ Cons
Fast Account OpeningMostly CFDs Offered
Excellent Customer SupportBasic MetaTrader Platform
Negative Balance ProtectionNo 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 Review

 

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 Founded1983
🧑🏻‍💻Amount of staffOver 3,000
👩‍💻Amount of active tradersOver 1 million
🌐Publicly Traded (Listed Company)Yes (Part of StoneX Group, listed on NASDAQ)
Regulation and Security
🛡️RegulationFCA, ASIC, MAS
🌎Country of regulationUK, Australia, Singapore
💻Account SegregationYes
🪫Negative balance protectionYes, City Index offers negative balance protection to help ensure clients cannot lose more than the funds deposited in their account.
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsStandard Account, MT4 Account
💳Institutional AccountsNot available for retail traders
👨‍💼Managed AccountsNot offered
📇Minor account currenciesEUR/GBP, EUR/AUD, GBP/JPY, EUR/JPY, AUD/JPY
💰Minimum DepositFrom $0 USD
Trading Conditions
🕞Average deposit/withdrawal processing time3-10 business days
🪙Fund Withdrawal FeeYes, City Index may charge a withdrawal fee depending on the withdrawal method and currency
📊Spreads from0.5 pips
💸CommissionsYes
💱Number of base currencies supported100 units
🚀Swap FeesOvernight financing fees apply
📈LeverageUp to 1:30
📏Margin requirements3.3%
☪️Islamic account (swap-free)No
💻Demo AccountYes
⌛Order Execution Timefast (average under seconds)
📆VPS HostingNot offered
Trading Instruments
🧾CFDs-Total OfferedOver 6,000
🗠CFD Stock IndicesOver 20
⚖️CFD CommoditiesOver 25
📜CFD Shares6,300+
Deposits and Withdrawals
💳Deposit OptionsCredit/debit cards, bank transfers, electronic wallets (Skrill, Neteller etc.)
💵Withdrawal OptionsCredit/debit cards, bank transfers, electronic wallets (Skrill, Neteller etc.)
Trading Platforms and Tools
💻Trading PlatformsWeb Trader, Mobile App (iOS & Android), TradingView, MT4
👩‍💻OS CompatibilityWeb Trader, Mobile App (iOS & Android), TradingView, MT4
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes, 24/5
📱Customer Support email addresssupport.uk@cityindex.com - Singapore: support.sg@cityindex.com - Australia: support.au@cityindex.com
📞Customer Support Contact NumberUK: 0203 194 1801
Australia: 1800 354 182
👾Social media PlatformsFacebook, Twitter
🗣️Languages supported on WebsiteEnglish
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersNot displayed
📋IB ProgramNot 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 programYes, 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 AccountOpen Account

 

Fees, Spreads, and Commission

🔎 Broker🥇 CityIndex
💰 Minimum Deposit$0 USD
🔁 Spreads from1.0 Pips
🪙 Inactivity feeYes
📈 Leverage up to400:1
🚀 Open an Account👉 Click Here

 

City Index

 

Pros and Cons

✅ Pros❌Cons
Low Forex FeesLimited Product Portfolio
Fast Account OpeningHigh Stock CFD fees
Diverse research toolsLimited 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

ForexTime Review

 

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

🔎BrokerFXTM
Company Information
📅Year Founded2011
🧑🏻‍💻Amount of staff700+
👩‍💻Amount of active tradersOver 3 million
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFCA,
FSCA,
FSC
🌎Country of regulationUK,
South Africa,
Mauritius
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesICF (Investor Compensation Fund)
Account Types and Features
💳Institutional AccountsYes
👨‍💼Managed AccountsYes (PAMM accounts)
📇Minor account currenciesUSD,
EUR,
GBP,
AUD,
ZAR
💰Minimum Deposit$200 / R3709
Trading Conditions
🕞Average deposit/withdrawal processing time1-2 business days
🪙Fund Withdrawal FeeVaries by method
📊Spreads from0.1 pips
💸CommissionsFrom $4 per lot (on certain accounts)
💱Number of base currencies supported7
🚀Swap FeesApplicable
📈LeverageUp to 1:2000
📏Margin requirementsVaries based on leverage and asset
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution Time0.01 seconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total Offered250+
🗠CFD Stock Indices11
⚖️CFD Commodities6
📜CFD Shares120+
Deposits and Withdrawals
💳Deposit OptionsCredit/Debit cards,
Bank transfers,
e-wallets
(Skrill, Neteller, etc.)
💵Withdrawal OptionsCredit/Debit cards,
Bank transfers,
e-wallets
(Skrill, Neteller, etc.)
Trading Platforms and Tools
💻Trading PlatformsMT4,
MT5,
FXTM Trader App
👩‍💻OS CompatibilityWindows,
macOS,
Android,
iOS
🖥️Forex trading toolsTrading signals,
VPS,
economic calendar
Customer Support
🗣️Live chat availabilityYes
📱Customer Support email addresssupport@fxtm.com
📞Customer Support Contact Number+44 203 734 1071
👾Social media PlatformsFacebook,
Twitter,
Instagram,
YouTube
🗣️Languages supported on Website15+
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesArticles,
tutorials,
videos,
webinars
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners3,000+
📋IB ProgramYes
🪙Rebate programYes
👉Open Account👉 Open Account

 

Fees, Spreads, and Commission

🔎 Account🥉 ADVANTAGE STOCKS🥈 ADVANTAGE🥇 ADVANTAGE PLUS
💰 Minimum DepositUSD 200 / 3631 ZARUSD 200 / 3631 ZARUSD 200 / 3631 ZAR
🔁 Spreads fromFrom 6 centsFrom 0.0From 1.5
💳 CommissionZero$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 offeredUp to 1:3000Up to 1:3000
🚀 Open an Account👉Open Account👉Open Account👉Open Account

 

FXTM Lowest Spread

 

Pros and Cons

✅ Pros❌ Cons
One of the best Forex Brokers worldwideWithdrawal fee
Regulated by the CySEC and several other Forex authoritiesHigh 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.

 

You might also like: IG Review

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You might also like: IC Markets Review

 

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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Table of Contents

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

February 11, 2025

Written by:

Louis Schoeman

Featured SA Shares Writer and Forex Analyst.

I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities.

Edited by:

Skerdian Meta

Leading Analyst

Skerdian Meta FXL’s Heading Analyst is a professional Forex trader and market analyst and has been actively engaged in market analysis for the past 10 years. Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years.

Fact checked by:

Arslan Butt

Commodities & Indices Analyst

Arslan Butt, a financial expert with an MBA in Behavioral Finance, leads commodities and indices analysis. His experience as a senior analyst and market knowledge (including day trading) fuel his insightful work on cryptocurrency and forex markets, published in respected outlets like ForexCrunch.

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