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 Metatrader 4 Brokers in South Africa

MetaTrader 4 Brokers in South Africa

 

The 10 Best MetaTrader4 Brokers (MT4) were revealed in South Africa. We have rated and reviewed the Best Forex Brokers that offer the MT4 trading platform.

 

This is a complete listing of The 10 Best MetaTrader 4 BrokersIn this in-depth write-up, you will learn:

  • A Top 10 MetaTrader 4 Brokers List
  • MetaTrader 4 Broker Reviews
  • The Best MetaTrader 4 Brokers in South Africa
  • Do MetaTrader4 Brokers offer Demo Accounts?
  • Best MT4 brokers for beginners

and much, much more!

 

Best MetaTrader4 Brokers – An MT4 Comparison

🔎 Broker👉 Open an Account💰 Min. Deposit4️⃣ MetaTrader4
🥇 AvaTrade👉 Open Account$100 USD / R1806 ZARYes
🥈 XM👉 Open Account
$5 USD / R89 ZARYes
🥉 Pepperstone👉 Open Account$0 USD / 0 ZARYes
🏅 CMC Markets👉 Open Account
$0 USD / 0 ZARYes
📌 HF Markets👉 Open Account$0 USD / 0 ZARYes
📍 FXTM👉 Open Account
$10 / R179 ZARYes
📌 FXPro👉 Open Account
$100 USD / R1806 ZARYes
📍 IC Markets👉 Open Account
$200 USD / R3557 ZARYes
📌 Axi👉 Open Account
$0 USD / 0 ZARYes
📍 IG👉 Open Account
$0 USD / 0 ZARYes

 

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

 

MetaTrader4 – A Definition

MetaTrader 4 (MT4) is an extremely popular trading platform developed by MetaQuotes in 2005. Although it is most commonly associated with Forex Trading, it can be used to trade a wide range of markets.

 

10 Best MetaTrader4 / MT4 Brokers (2025)

  1. ☑️AvaTrade – Overall, Best MetaTrader4 Broker in South Africa
  2. ☑️XM – Popular Forex Broker for Experience Traders
  3. ☑️Pepperstone – Full MetaTrader Suite
  4. ☑️CMC Markets – High Forex Trust Score
  5. ☑️HF Markets – Highly Regulated Broker Choice in SA
  6. ☑️FXTM – Low Deposit MT4 Broker
  7. ☑️FXPro – Excellent MT4 Mobile Trading Experience
  8. ☑️IC Markets – Low Spread MT4 Broker
  9. ☑️Axi – Best MT4 Broker for Beginners
  10. ☑️IG – Award-Winning MetaTrader4 Broker

 

1. AvaTrade

AvaTrade Review

 

AvaTrade is globally considered a pioneering broker. AvaTrade offers access to competitive spreads, a wide range of automated trading platforms, and customer service support in multiple languages.

 

Min Deposit

USD 100

Regulators

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

Trading Platform

MT4, MT5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

AvaTrade makes the traders-choice MetaTrader4 trading platform available. The MetaTrader4 platforms come packed with features, including:

  • Fast Trading
  • Platform Flexibility
  • Trading Signals provided by Top Providers
  • Expert Advisors
  • Access across PC, Web, and Mobile

 

Featured

CategoryDetails
Company Information
🏷️Company NameAvaTrade
📍Headquarters LocationDublin, Ireland
📅Year Established2006
👤CEO/FounderDáire Ferguson
🌐Global Offices Over 15 offices worldwide,
including Japan,
Australia,
and South Africa
🔖Licensing BodyCentral Bank of Ireland, ASIC,
FSA (Japan),
FSCA (South Africa),
ADGM (UAE)
👥Group CompaniesAva Capital Markets,
AvaTrade EU,
AvaTrade Japan,
AvaTrade Middle East
🏛️Business ModelMarket Maker
🌍Operational LanguagesOver 20 languages, including English,
Spanish,
French,
and Arabic
🏆Awards & RecognitionsBest Broker 2023,
Best Trading App 2022, among others
Regulation and Security
🛡️RegulationCBI,
BVI FSC,
ASIC,
FSCA,
ADGM,
FRSA,
ISA
✔️Compliance StandardsAdheres to MiFID II,
ASIC regulations,
and other regional compliance standards
💼Client Fund Segregation Yes,
client funds are held in segregated accounts
🪫Negative balance protectionYes,
ensuring traders cannot lose more than their account balance
🕵️‍♂️Financial Conduct OversightRegular audits and monitoring by respective regulatory bodies
💰Insurance CoverageProfessional indemnity insurance in line with regulatory requirements
📋AML & KYC PolicyStrict Anti-Money Laundering (AML) and Know Your Customer (KYC) policies
🔒Security of Trading PlatformAdvanced SSL encryption, two-factor authentication (2FA), and secure servers
🛡️Investor Compensation FundMember of investor compensation schemes depending on regional regulations
🖥️Cybersecurity MeasuresRobust firewalls, regular penetration testing,
and secure backups
Account Types and Features
⚙️Standard Account Yes,
available with competitive features
📊ECN Account No,
AvaTrade does not offer an ECN account
🌙Islamic AccountYes,
swap-free accounts are available for Muslim traders
🎮Demo Account Yes,
a free demo account is available with virtual funds
👑VIP AccountYes,
available for high-net-worth traders with enhanced features
💵Minimum Deposit$100 / R1806
💱Base CurrenciesUSD,
EUR,
GBP,
AUD,
and others depending on the region
⚖️Leverage OptionsUp to 1:400
(varies based on region and asset class)
📈Spreads (Fixed/Variable)Fixed spreads
EUR/USD starts at 0.9 pips
🔄Swap-Free AccountsYes,
available for Islamic accounts
🌐Account Currency ConversionYes,
account currencies can be converted
during setup
🚨Margin Call Level50%
❌Stop-Out Level20%
🔄Hedging Allowed Yes
⚡Scalping AllowedNo,
scalping is not permitted under AvaTrade’s policies
🔁Copy Trading SupportYes,
through integration with ZuluTrade and DupliTrade
👥Social Trading FeaturesYes,
via third-party platforms
💼Managed AccountsNo, AvaTrade does not offer managed accounts
Trading Conditions
🔍Average SpreadsEUR/USD starts from 0.9 pips (fixed spreads)
💲Commissions per Trade None,
spreads only
🔢Leverage RangeUp to 1:400
🚀Execution SpeedUltra-fast execution
📊Order Execution TypeMarket execution
🔄Slippage PolicyMinimal slippage,
detailed in terms
📏Margin requirementsVaries by asset class
⏹️Stop-Loss and Take-Profit OrdersYes
🔁Trailing StopsYes
🕑Pending OrdersYes
🔽Partial FillsYes
🧾Dividend AdjustmentsYes
🌙Overnight Swap Fees Applicable,
waived for Islamic accounts
📆Rollover PolicyFollows market standards
🛑Guaranteed Stop LossYes,
for specific instruments
Trading Instruments
💹Forex Currency Pairs55+ pairs,
including majors,
minors,
and exotics
🪙Precious Metals (Gold/Silver)Yes
📈IndicesYes
🌾CommoditiesYes,
including soft commodities
⛽Energies
(Oil/Natural Gas)
Yes
₿CryptocurrenciesYes (via platforms and email)
📉StocksYes,
global stocks available
🗂️ETFsYes
🏛️BondsNo
📜Futures Contracts No
🛡️Options ContractsYes
⚖️CFDs
(Contracts for Difference)
Yes
🔣Swap on Trading BoardYes
🔀Leveraged InstrumentsYes,
leverage up to 1:400
🎯Micro-Lot TradingYes
💸Spread BettingYes,
available in some regions
🧺Currency BasketsNo
Deposits and Withdrawals
💳Deposit MethodsCredit/Debit Cards,
Bank Wire Transfer,
E-Wallets
(Skrill, Neteller),
Local Payment Methods
💵Withdrawal MethodsCredit/Debit Cards,
Bank Wire Transfer,
E-Wallets
(Skrill, Neteller)
⏱️Processing Time for DepositsYesInstant for most methods,
1-3 business days for bank transfers
🕒Processing Time for Withdrawals24-48 hours for most methods,
up to 5 business days for bank transfers
🚫Deposit FeesNo
💵Withdrawal FeesNo
🔢Minimum Deposit Amount$100
📉Minimum Withdrawal Amount$100 (may vary by method)
🚪Maximum Withdrawal Limit No specific limit,
subject to account balance
💱Supported CurrenciesUSD,
EUR,
GBP,
AUD,
and more
₿Crypto Deposits & WithdrawalsNot supported
🏦Bank Wire TransfersSupported
💳Credit/Debit CardsSupported
📲E-Wallets
(Skrill, Neteller, etc.)
Supported
🏘️Local Payment MethodsSupported
(varies by region)
Trading Platforms and Tools
💻MetaTrader 4 (MT4) Yes,
fully supported
👩‍💻MetaTrader 5 (MT5)Yes,
available for advanced trading
🖥️Proprietary PlatformYes,
AvaTradeGo and WebTrader
📱Mobile Trading AppYes,
AvaTradeGo offers comprehensive mobile trading
🌐Web-Based PlatformYes,
WebTrader is available
🤖Trading BotsYes,
compatible with EAs (Expert Advisors)
🖧VPS ServicesAvailable upon request
🔌API ConnectivityNo
📉Charting ToolsAdvanced charting tools are available
🧮Custom IndicatorsSupported via MT4/MT5
🧠Market Sentiment Analysis Yes,
integrated into platforms
📩Trading SignalsYes,
via partnerships with Trading Central
🏷️Advanced Order TypesYes,
including stop orders and limit orders
⚠️Risk Management ToolsYes,
includes guaranteed stop-loss and negative balance protection
📅Economic Calendar Yes,
provided within the platform
📰Market News Feed Yes,
updated in real-time
Customer Support
📞Support ChannelsLive Chat,
Email,
Phone,
FAQ/Help Center
🗨️Live Chat Availability24/5
📧Email SupportAvailable
📱Phone SupportAvailable
🌍Multilingual SupportYes,
supports multiple languages
❓Help Center/FAQComprehensive Help Center and FAQs
👨‍💼Dedicated Account ManagerAvailable for premium accounts
⏲️Response Time (Live Chat)Within a few minutes
🕒Response Time (Email)24-48 hours
⭐Support Rating High-rated for responsiveness and efficiency
Educational Resources and Support
🎥Webinars Regular webinars on various trading topics
🏫SeminarsAvailable in selected locations
📖Trading TutorialsComprehensive beginner and advanced tutorials
📊Market Analysis ReportsDaily and weekly market analysis reports
📚E-BooksVarious e-books covering different aspects of trading
🎬Video LibraryExtensive library with video tutorials
📜GlossaryDetailed glossary of trading terms
❔FAQs Frequently Asked Questions section covering general and account-related inquiries
🆕Beginner GuidesStep-by-step beginner guides to help new traders
🚀Advanced Trading StrategiesIn-depth strategies for experienced traders to enhance trading skills
Partnerships and Programs
📋IB ProgramYes
🪪Affiliate program?Commission-based program for affiliates promoting AvaTrade
🏷️White Label SolutionsCustomized solutions for financial institutions and brokers to offer AvaTrade's services under their brand
🎁Partnership Rewards Rewards and bonuses for partners based on performance and business growth
🏛️Institutional SolutionsTailored solutions for financial institutions, including liquidity services
🔌API Partnership AvaTrade offers API access for integrating their trading services into third-party platforms
🤝Referral ProgramIncentives for clients who refer new traders to AvaTrade
Fees & Charges
💳Deposit FeesNo deposit fees for most methods
📤Withdrawal FeesNo withdrawal fees for most methods
💤Inactivity FeeInactivity fee of $50/month after 3 months of no trading activity
🌜Overnight Fees (Swaps)Charges/credits depend on the position,
asset class,
and market conditions
💱Conversion FeesConversion fees apply when depositing or withdrawing in a different currency than the account's base currency
💰Commission on TradesNo commission for standard accounts,
but commissions may apply for certain account types like ECN accounts
Market Research ToolsAvaTrade offers an economic calendar with key financial events and news updates.
📅Economic CalendarAvaTrade offers an economic calendar with key financial events and news updates.
📰Market NewsAvaTrade provides real-time market news from leading financial sources.
📩Trading Signals AvaTrade offers trading signals through third-party providers and on its platform.
🔧Technical Analysis ToolsAvaTrade includes charting tools,
technical indicators,
and analysis features.
💭Sentiment Analysis AvaTrade provides sentiment indicators, showing the market mood and trends.
Additional Features
👥PAMM/MAM Accounts AvaTrade offers PAMM
(Percentage Allocation Management Module) and MAM
(Multi-Account Manager)
accounts for fund managers and clients.
🔗Social Trading PlatformAvaTrade provides a social trading platform allowing users to follow and copy trades of others.
🏆Trading CompetitionsAvaTrade hosts periodic trading competitions with cash prizes and other rewards.
🎁Loyalty RewardsAvaTrade has a loyalty program offering benefits such as bonuses and other perks for active traders.
👑Exclusive VIP PerksAvaTrade offers VIP clients exclusive services like personalized account management and special offers.
Promotions & Bonuses
🎁Welcome Bonus AvaTrade offers a welcome bonus to new clients upon opening and funding their accounts.
💵Deposit Bonus AvaTrade may offer deposit bonuses,
providing additional trading funds on qualifying deposits.
🏅Trading ContestsAvaTrade organizes trading contests,
where participants can win prizes based on their trading performance.
🌟Seasonal PromotionsAvaTrade runs seasonal promotions throughout the year,
offering special deals and bonuses.
🎖️Loyalty ProgramsAvaTrade offers loyalty programs that reward clients for their continued trading activity with perks and bonuses.
User Experience & Reviews
🖥️User Interface QualityAvaTrade’s platform offers a clean and intuitive interface,
designed for both beginner and experienced traders.
🔒Platform StabilityAvaTrade’s platform is known for its stability,
with minimal downtime and robust performance under various market conditions.
📱Mobile App Reviews The mobile app receives positive reviews for its ease of
use,
offering a wide range of features similar to the desktop platform.
⭐Overall User RatingAvaTrade generally holds a solid rating from users,
with many praising its comprehensive offerings and user-friendly interface.
🌟Trustpilot RatingAvaTrade maintains a strong Trustpilot rating,
with many clients expressing satisfaction with their services.
😟Common ComplaintsCommon complaints include slow customer support response times and occasional withdrawal issues.
Mobile
📱Mobile App NameAvaTradeGO
🛠️Developer AvaTrade Ltd.
📅Release Year2019
💻OS CompatibilityiOS, Android
🌐Languages SupportedEnglish,
French,
Spanish,
Italian,
Arabic,
Portuguese,
and others
📈Trading InstrumentsForex,
CFDs,
Commodities,
Stocks,
Indices,
Cryptocurrencies
🔄Real-Time DataYes,
with live market data and updates
🛠️Charting ToolsAdvanced charting tools with technical analysis indicators
📊Order Types SupportedMarket Orders,
Limit Orders,
Stop Orders,
OCO,
Trailing Stop
🚀Order Execution SpeedFast,
near-instant execution on mobile
🔔Custom Alerts Yes,
users can set price alerts and notifications
🤝Beginner-Friendly Yes,
the app is designed with simplicity and ease of use
🔐Security FeaturesTwo-factor authentication (2FA), encryption
🖥️SynchronizationSyncs across all devices (mobile and desktop)
💰Deposit and Withdrawal Yes,
mobile deposits and withdrawals are supported
📝Account Types AccessibleAll account types available,
including demo accounts
🔄Switch AccountsYes,
users can switch between accounts easily
💬In-App SupportLive chat support available within the app
📚Educational Resources Access to tutorials, webinars,
and market analysis
🎯WatchlistYes,
users can create and manage a personalized watchlist
🌙Dark ModeYes,
the app supports dark mode for better visibility
🌐Social TradingYes,
users can engage in social trading within the app
AI Trading Resources
🤖AI IntegrationAvaTrade offers AI-powered trading tools,
integrated into the platform
📊Data Analysis Yes,
AI-driven data analysis for enhanced decision-making
📈Predictive AnalyticsYes,
predictive tools are available to anticipate market trends
🛠️Customizable StrategiesYes,
users can customize their trading strategies using AI tools
📉Risk Management ToolsAdvanced AI tools to assess and manage trading risks
🧑‍🏫Trading InsightsAI-based insights and recommendations for optimal trades
🚀Execution OptimizationAI-driven algorithms that optimize order execution speed
🔄Portfolio RebalancingYes,
AI can assist in portfolio rebalancing based on market changes
📚AI TutorialsAvailable educational resources on how to use AI tools in trading
🎥Video DemonstrationsYes,
video tutorials explaining how to use AI features
🧑‍🤝‍🧑Webinars Yes,
webinars are available to discuss AI trading strategies
🔍AI-Powered Search Yes,
search tools are enhanced with AI to provide more accurate results
🌟Beginner-Friendly Yes,
AI tools are designed to be accessible for beginners
🖥️Platform AvailabilityAvailable on both desktop and mobile platforms
📈Backtesting CapabilityYes,
users can backtest strategies using historical data
🛠️Strategy BuilderYes,
users can build and customize their own AI-driven strategies
🔔Alerts and NotificationsYes,
AI-powered alerts for market events and strategy changes
🔒Data ProtectionStrong encryption and data protection measures in place
👁Transparency Full transparency on how AI algorithms work and make decisions
Social Media Platformst
📘FacebookAvaTrade is active on Facebook,
providing updates,
news,
and promotions.
📷InstagramAvaTrade uses Instagram to share educational content,
market analysis,
and trading tips.
🐦Twitter AvaTrade regularly tweets market insights, promotions, and company news.
💼LinkedIn AvaTrade maintains a professional LinkedIn presence, sharing company updates and industry news.
🎥YouTubeAvaTrade's YouTube channel features tutorials, webinars, market updates, and promotional content.
👉Open AccountOpen Account

 

AvaTrade MetaTrader4

 

Pros and Cons

✅ Pros❌ Cons
Easy Account openingLimited product portfolio
No withdrawal feeAdministration fee
Low trading feesInactivity fee
Negative balance protectionNot listed on stock exchange

 

Our Findings

AvaTrade is a well-regulated forex broker with oversight from the ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, and JFSA, ensuring high security and compliance. The broker offers fixed spreads and a variety of trading platforms.

 

2. XM

XM.com Review

 

XM is a well-established and experienced service provider that offers its services to thousands of traders in over 190 countries worldwide.

 

Min Deposit

USD 5

Regulators

FSC, CySEC, ASIC,

Trading Platform

MT4, MT5

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

XM offers access to the MetaTrader4 trading platform, which is available on PC/MAC, SmartPhones, and Tablets.

 

MT4 features include:

  • Low Spreads
  • Selection of Chart Types
  • Micro Lot Accounts

 

Featured

🔎Broker🥇XM
Company Information
📅Year Founded2009
🧑🏻‍💻Amount of staff450+
👩‍💻Amount of active tradersOver 5 million
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFSC,
CySEC,
ASIC,
🌎Country of regulationAustralia,
Cyprus,
Belize
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesICF (Investor Compensation Fund)
Account Types and Features
➕AccountsStandard,
Raw Spread,
Standard Cent,
Zero,
Pro
💳Institutional AccountsYes
👨‍💼Managed AccountsYes
📇Minor account currenciesUSD,
EUR,
GBP,
AUD,
ZAR
💰Minimum Deposit$5 USD
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeNone
📊Spreads from0.6 pips
💸CommissionsNone
💱Number of base currencies supported11
🚀Swap FeesApplicable
📈LeverageUp to 1:1000
📏Margin requirementsVaries by asset and region
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution Time0.01 seconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total Offered1,000+
🗠CFD Stock Indices30+
⚖️CFD Commodities15+
📜CFD Shares1,200+
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,
XM WebTrader
👩‍💻OS CompatibilityWindows,
macOS,
Android,
iOS
🖥️Forex trading toolsTrading signals, indicators,
VPS
Customer Support
🗣️Live chat availabilityYes
📱Customer Support email addresssupport@xm.com
📞Customer Support Contact Number+357 25029933
👾Social media PlatformsFacebook,
Twitter,
Instagram,
YouTube
🗣️Languages supported on Website25+
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes (in multiple languages)
📚Educational ResourcesArticles,
tutorials,
videos,
webinars
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersOver 5,000
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes, sponsorship agreement with LALIGA, the top professional football division in Spain
🪙Rebate programYes
👉Open Account👉 Open Account

 

XM MetaTrader 4

 

Pros and Cons

✅ Pros❌ Cons
Fast digital account openingAccount types vary according to jurisdiction

 

Our Findings

With its commitment to transparency and client satisfaction, XM is a solid choice for traders seeking a reliable and comprehensive trading experience.

 

3. Pepperstone

Pepperstone Review South Africa

 

Pepperstone is a Forex Broker regulated by ASIC, FCA, and CMA. Client funds are kept in segregated accounts, and multiple fee-free funding methods are available.

 

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

 

Pepperstone offers access to the world’s most popular trading platform from across phones, tablets, and desktops – MetaTrader4.  Reasons to choose MetaTrader4 include:

  • Customize the Platform
  • Access 28 Indicators
  • Flexible Order Types

 

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

 

Pepperstone MT4

 

Pros and Cons

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

 

Our Findings

Pepperstone is a leading forex and CFD broker recognized for its fast execution speeds and competitive pricing.

 

4. CMC Markets

CMC Markets Review

 

CMC Markets is a global CFD and forex broker company regulated by several global authorities, including the FCA. It offers a dedicated spread betting and CFD trading account as well as a corporate trading account.

 

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 offers its clients one of the leading platforms in the market: MetaTrader4 (MT4). Although MetaTrader4 is most commonly associated with forex trading, it can be used to trade a range of markets, including forex, indices, cryptocurrencies, and commodities.

 

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

 

CMC Markets MT4

 

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

Our findings on CMC Markets reveal it to be a well-established and trusted broker regulated by top-tier authorities such as the FCA.

 

5. HF Markets

HFM Review

 

HFM is an award-winning forex and commodities broker that provides trading services and facilities to retail and institutional clients. It only uses major global banks, and clients’ funds are kept in bank accounts separate from those used by the company. Negative Balance protection is also available.

 

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

 

HF Markets offers multiple trading platforms, with MetaTrader4 at the top of the list. HFM MT4 is available on PCs, the Web, and a selection of mobile devices.

 

Featured

🔎BrokerHFM
Company Information
📅Year Founded2010
🧑🏻‍💻Amount of staff500+
👩‍💻Amount of active traders300,500 000 mil
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFSCA,
CySEC,
FCA,
DFSA,
FSA,
CMA
🌎Country of regulationUK,
South Africa,
Cyprus
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsPremium Account,
Zero Spread Account,
Pro Account,
HFcopy Account
💳Institutional AccountsYes
👨‍💼Managed AccountsNot offered
📇Minor account currenciesAUD,
GBP,
USD,
EUR,
CAD,
CHF,
JPY,
SGD,
HUF,
PLN,
NZD,
ZAR
💰Minimum Deposit$0 USD / 0 ZAR
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeFree up to a certain amount
📊Spreads from0.1 pips
💸CommissionsNo
💱Number of base currencies supportedOver 50
🚀Swap FeesOvernight financing fees apply
📈Leverage1:30
📏Margin requirements0.50%
☪️Islamic account (swap-free)Yes,
available upon request
💻Demo AccountYes
⌛Order Execution TimeTypically within milliseconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 500+
🗠CFD Stock IndicesYes,
HFM offers CFDs on major global stock indices,
including US30 (Dow Jones),
UK100 (FTSE),
and many more.
⚖️CFD CommoditiesYes,
HFM provides CFDs on a variety of commodities, including Gold, Oil, and others.
📜CFD SharesYes,
HFM allows trading CFDs on a selection of popular company shares,
such as Amazon and Meta.
However, the total number of individual stock CFDs may be limited compared to specialized stock brokers.
Deposits and Withdrawals
💳Deposit OptionsCredit/debit cards,
bank transfers,
electronic wallets.
💵Withdrawal OptionsMust be sent via the same payment method used for deposit
Trading Platforms and Tools
💻Trading PlatformsHFM Platform, MT4
👩‍💻OS CompatibilityWindows,
macOS,
Web,
Mobile
(Android, iOS)
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/5
📱Customer Support email addresssupport.za@hfm.com
📞Customer Support Contact Number+27-104 439 924
👾Social media PlatformsFacebook,
Twitter,
Instagram
🗣️Languages supported on Website27 languages
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes, HFM offers a multi-award winning affiliate program with competitive commissions, marketing tools, and dedicated support.
👨‍🏫Amount of partners41 000
📋IB ProgramYes, HFM has a dedicated IB (Introducing Broker) program with custom solutions for introducing new clients.
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
👉Open Account👉Open Account

 

HF Markets MT4

 

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

Our findings highlight that HFM has a strong regulatory standing, user-friendly platform, and multiple account types to cater to various trader profiles.

 

6. FXTM

ForexTime Review

 

FXTM is a global CFD and FX broker regulated by multiple financial authorities. It offers customer service in several languages, multiple educational tools, and a demo account.

 

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

 

FXTM MetaTrader4 is the number-one choice for thousands of traders worldwide. It provides access to various markets and financial instruments, including FX, metals, commodities, CFDs, and indices.

 

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

 

FXTM MT4

 

Pros and Cons

✅ Pros❌ Cons
Fast execution speedsBonus programs might be restricted in some regions.
High leverage (up to 1:2000)High leverage can increase risk, especially for beginners.
Tight spreads on ECN accountsLower leverage options for EU/UK clients due to regulations (1:30 for retail traders).
Access to MetaTrader 4 & 5High inactivity fees if the account is dormant.
Good educational resourcesCustomer support can sometimes be slow during peak times.
Regulated by several authorities (FCA, CySEC, FSCA)Limited product offering outside Forex (fewer stocks and indices).

 

Our Findings

Our findings reveal that FXTM offers competitive spreads and a broad selection of forex pairs and CFDs. The broker is well-regulated and provides access to popular platforms like MetaTrader 4 and MetaTrader 5.

 

7. FXPro

FXPro Review

 

FxPro offers clients access to Contracts for Difference (CFDs) on six asset classes: Forex, Shares, Spot Indices, Futures, Spot Metals, and Spot Energies. FxPro is a well-known, trustworthy broker regulated by the FCACySECFSCA, and SCB.

 

Min Deposit

USD 100

Regulators

FCA, CySEC, FSCA, SCB

Trading Platform

MT4, MT5

Crypto

No

Total Pairs

70

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

MetaTrader 4 has been established as the industry standard and offers access to advanced trading infrastructure, competitive pricing, and superior order execution.  The MetaTrader4 Desktop Platform comes stocked with

  • 50+ preinstalled technical indicators
  • 24 analytical charting tools
  • 3 chart types & 9 time-frames
  • 1-click trading & trade from charts
  • Trailing Stop

 

Featured

Company Information
Company NameFxPro
🏢 Company InformationFxPro Group Limited
📅 Year Founded 2006
👩‍💼👨‍💼 Current CEOCharalambos Psimolophitis
👩‍💼👨‍💼 Founder/sDenis Sukhotin
👥 Amount of staffOver 200 employees
👨‍💻 Amount of active tradersOver 1.8 million
📈 Publicly Traded (Listed Company)No
🇬🇧 Regulation and SecurityStrong regulatory oversight
🇬🇧 RegulationFCA, CySEC, FSCA
🇬🇧 Country of regulationUK, Cyprus, South Africa
💼 Account SegregationYes, funds are segregated
🚫 Negative balance protectionYes
🔐 Two-step AuthenticationAvailable
🛡️ Investor Protection SchemesYes, under regulatory authorities
📋 Account Types and FeaturesStandard, MT4, MT5, and cTrader accounts
🏦 Institutional AccountsYes
📊 Managed AccountsNo
💱 Minor account currenciesUSD, EUR, GBP, ZAR
💰 Minimum Deposit$100 / 1700 ZAR
📊 Trading ConditionsCompetitive spreads, fast execution
⏳ Average deposit/withdrawal processing time1-2 business days
💵 Fund Withdrawal FeeNo fees on most methods
📉 Spreads from0.0 pips
💸 CommissionsOn cTrader accounts (from $4.5)
🌍 Number of base currencies supported7
📈 Swap FeesYes, applicable on overnight trades
📈 LeverageUp to 1:500
📊 Margin requirements2%
🌙 Islamic account (swap-free)Yes
🎓 Demo AccountYes, unlimited
⏱️ Order Execution Time< 11ms
☁️ VPS HostingAvailable for high-frequency traders
🌍 Global OfficesUK, Cyprus, Bahamas, Dubai
👆 One-Click TradingYes
🤖 Expert AdvisorsSupported on MT4/MT5
📊 Trading InstrumentsForex, Stocks, Indices, Metals, Energy
📊 CFDs-Total OfferedOver 2000 instruments
📈 CFD Stock IndicesYes, major global indices
🛢️ CFD CommoditiesYes, energy and metals
📉 CFD SharesYes, large selection
👀 Watch listCustomizable
🔔 Trade AlertsYes
📈 Trading Stocks with GPYes
📊 Trading Indices with GPYes
🛠️ Swap on trading boardYes
💳 Deposits and WithdrawalsCredit/Debit cards, Bank Wire, PayPal, Skrill, Neteller
💳 Deposit OptionsMultiple methods supported
💸 Withdrawal OptionsSame as deposit methods
🎁 Welcome BonusNo
💻 Trading Platforms and ToolsMT4, MT5, cTrader, FxPro Edge
🚦 Stop-loss InstrumentYes
🛡️ Investor Protection SchemesYes, under regulatory bodies
🖥️ OS CompatibilityWindows, macOS, iOS, Android
🔧 Forex trading toolsYes, extensive
💬 Customer Support24/5 support available
💬 Live chat availabilityYes, 24/5
📧 Customer Support Email addresssupport@fxpro.com
📞 Customer Support Contact Number+44 (0) 203 151 5550
🌐 Languages supported on FxPro Website18 languages
📚 Educational Resources and SupportWebinars, articles, video tutorials
👍 Beginners Trader friendly UXYes
📚 Forex courseYes, basic to advanced
🖥️ WebinarsYes
📖 Educational ResourcesYes, rich library
🤝 Partnerships and ProgramsYes
🤝 Affiliate program?Yes
🤝 Amount of partners10,000+
📈 IB ProgramYes
⚽ Do they sponsor any notable events or teams?Yes, McLaren F1 team
💰 Rebate programYes, for IBs
🗨️ Community ForumNo
📱 Social Media PlatformsFacebook, Twitter, Instagram, YouTube, LinkedIn
🌐 Official Website addressFxPro
📘 Official Facebook PageFxPro
🐦 Official Twitter PageFxPro
📺 Official YouTube ChannelFxPro
🔗 Official Linkedin PageFxPro
📸 Official Instagram PageFxProGlobal
🇿🇦 Regulatory Status in South AfricaFSCA regulated
🇿🇦 Accept South Africa Traders?Yes
🏛️ Is FxPro regulated by the South Africa regulatory body (FSCA)?Yes
🤝 Does FxPro offer an Affiliate Program for South African Traders?Yes
💱 Does FxPro allow accounts to be opened in ZAR / Rands?Yes
🚀 Open AccountOpen Account

 

FXPro MT4

 

Pros and Cons

✅ Pros❌ Cons
Segregates client fundsNot ASIC Regulated
Highly Regulated (FCA, CySEC, FSCA)High trading fees
Low Minimum DepositInactivity Fee
User-Friendly account registrationOnly CFDs and Forex
Fast Trade Execution (Ultra-low latency)No Bonuses or Promotions
Multiple Trading Platforms (MT4, MT5, cTrader, FxPro Edge)Limited Range of Tradable Assets (No direct stocks or ETFs)
No Deposit FeesHigher Spreads on Some Accounts
24/5 Multilingual SupportNo Social Trading Features

 

Our Findings

Our findings on FxPro reveal a well-established broker with solid regulatory oversight, including the FCA, CySEC, and FSCA.

 

8. IC Markets

IC Markets Review

 

IC Markets is a renowned Forex CFD provider that offers trading solutions for active day traders and scalpers. It 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

 

The award-winning IC Markets MetaTrader 4 platform offers fast execution speeds and flexible trading conditions.

 

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

 

IC Markets MT4

 

Pros and Cons

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

 

Our Findings

With its emphasis on transparency, fast execution, and comprehensive customer support, IC Markets is a strong choice for both novice and experienced traders.

 

9. Axi

Axitrader Review

 

Axi is an industry-leading online trading company with tight spreads, supersonic execution, advanced tools, and award-winning customer service.

 

Min Deposit

USD 0

Regulators

ASIC, FCA, DFSA

Trading Platform

MT4

Crypto

Yes

Total Pairs

140+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Axi MetaTrader4 is a simple-to-use and fully functional trading platform with features like charts, price alerts, custom indicators, and analysis tools.

 

Featured

Company Information
📅Year Founded2007
Current CEORajesh Yohannan
Founder/s Goran Drapac
🧑🏻‍💻Amount of staff200+
👩‍💻Amount of active traders60,000+
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationASIC,
FCA,
DFSA,
FSA
FMA
🌎Country of regulationUK, Australia, UAE, New Zealand,
💻Account SegregationYes
🪫Negative balance protectionYes
Two-step AuthenticationYes
🔋Investor Protection SchemesYes (up to £85,000 in the UK through FSCS)
Account Types and Features
➕AccountsStandard,
Pro,
and Elite account
💳Institutional AccountsYes
👨‍💼Managed AccountsNo
📇Minor account currenciesAUD,
CAD,
CHF,
EUR,
GBP,
HKD,
JPY,
NZD,
PLN,
SGD,
USD
💰Minimum Deposit$0 for Standard Account
Trading Conditions
🕞Average deposit/withdrawal processing time1-2 business days
🪙Fund Withdrawal FeeNo
📊Spreads fromFrom 0.0 pips
💸Commissions$3.50 per lot per side (for Raw accounts)
💱Number of base currencies supported10+
🚀Swap FeesYes (Standard accounts)
📈LeverageUp to 500:1
📏Margin requirements0.2% minimum
☪️Islamic account (swap-free)Yes,
available upon request
💻Demo AccountYes
⌛Order Execution Time<30 milliseconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total Offered130+
🗠CFD Stock Indices30+
⚖️CFD Commodities14
📜CFD Shares50+
Watch ListYes
Trade AlertsYes
Trading Stocks with GPYes
Trading Indices with GPYes
Swap on Trading BoardYes
Deposits and Withdrawals
💳Deposit OptionsCredit/debit cards, bank transfer, PayPal, Neteller, Skrill
💵Withdrawal OptionsCredit/debit cards, bank transfer, PayPal, Neteller, Skrill
Welcome BonusNo
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4,
Axi One
Stop-loss InstrumentYes (Guaranteed stop-loss on select accounts)
👩‍💻OS CompatibilityWindows,
macOS,
iOS,
Android
Investor Protection SchemesYes (UK, Australia)
🖥️Forex trading toolsAutochartist, PsyQuation, Economic Calendar, VPS, Social Trading Tools
Customer Support
🗣️Live chat availabilityYes (24/5)
📱Customer Support email addressservice@axi.com.
📞Customer Support Contact Number+61 2 9965 5830
🗣️Languages supported on WebsiteEnglish,
Arabic,
Chinese,
German,
Spanish,
Educational Resources and Support
Beginners Trader Friendly UXYes
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes (eBooks, tutorials, videos)
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners1000+
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams? Not currently
🪙Rebate programYes
Community ForumYes (via PsyQuation community)
Social Media PlatformsYes
Official Website AddressYes
Official Facebook PageYes
Official Twitter PageYes
Official YouTube ChannelYes
Official LinkedIn PageYes
Official Instagram PageYes
Accept South Africa Traders?Yes
Is Axi Regulated by the South Africa Regulatory Body (FSCA)?No
Does Axi Offer an Affiliate Program for South African Traders? Yes
Does Axi Allow Accounts to be Opened in ZAR/Rands?Yes
👉Open AccountOpen Account

 

Axi MT4

 

Pros and Cons

✅ Pros❌ Cons
Regulated by FCA (UK), ASIC (Australia), DFSA (UAE), and FMA (New Zealand)Not regulated by the FSCA in South Africa
No minimum deposit required for standard accountsNo welcome bonus or promotional incentives
Tight spreads starting from 0.9 pips on Raw accountsStock trading is not available in all countries
Available for high-volume tradersFewer cryptocurrency pairs available compared to competitors

 

Our Findings

Our findings on Axi show that it is a reputable broker regulated by top-tier authorities such as ASIC and FCA. Axi offers competitive trading conditions, including low spreads starting from 0.0 pips.

 

10. IG

IG Review

 

IG is a leading global online service provider that offers traders access to opportunities across thousands of financial markets through intuitive platforms and apps.

 

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

 

IG MT4 offers instant access to 18 free add-ons and indicators, expert advisors, and more. It is also available as a downloadable mobile app.

 

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

 

IG MT4

 

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

Our findings on IG highlight its position as a leading and highly regulated broker, with oversight from the FCA, ASIC, and CFTC authorities.

 

Conclusion

In conclusion, the best MetaTrader 4 brokers in South Africa stand out for their robust trading platforms, competitive pricing, and strong regulatory oversight. These brokers deliver reliable and efficient trading solutions, making them top choices for South African traders using MT4.

 

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You might also like: Best Copy Trading Platforms and Brokers

 

Frequently Asked Questions

 

Which is the most popular MT4 Broker Choice in South Africa?

According to research, AvaTrade is the most popular MT4 Broker choice amongst forex traders in South Africa.

 

How do I compare Metatrader4 brokers?

There are a few important factors to consider when comparing MT4 brokers, such as 1. account types, 2. regulation, and 3. Execution Method and Speed, 4. trading costs involved, 5. plugins and MT4 tools offered by the broker, and 6. customer support, Analysis, and Education resources.

 

Why do so many brokers offer MetaTrader4?

Metatrader4 broker tasks, such as processing trades, transmitting quotes, and managing accounts, are done with high efficiency in MT4. Other factors that explain why so many forex brokers use MT4 include trade servers, access points, gateways, data feeds, backup and recovery functions, powerful security systems, and many opportunities to expand functionality.

 

Can I use MetaTrader4 without selecting a Broker?

No, to trade with MetaTrader4, a brokerage account is required.

 

What are the Pros of trading with MetaTrader4 forex brokers?

Choosing to trade with MetaTrader4 includes multiple positive aspects, including excellent charting capabilities.

 

Which broker is the best for Zar?

Best broker for ZAR is Exness, Tickmill, HF Markets, FxPro, XM, FXCM.

 

Who owns MetaTrader 4?

MetaQuotes Software developed it.

 

Can I make money on MetaTrader 4?

Yes, you can. With MetaTrader 4, you can set buy and sell limits in the ‘orders’ window.

 

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4.8/5 - (25 votes)

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

September 12, 2024

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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