CHECK OUT THE BEST FOREX BROKERS IN SOUTH AFRICA

Among a number of Forex brokers, choosing the best Forex Brokers in South Africa is essential that impacts on the trading success. Depending on the traders’ ability, there are variety of needs coming from their educational levels, analysis capability and trading tools.

Since 2008, we have done conducts and analyses on the top forex brokers. The basic standard that we used for picking brokers is their reputations. We have finalised the list of the brokers that well-regulated and reliable Forex trading Platform.

The standards for evaluating Brokers in South Africa

Since 2013, we started trading by signing up and trading with over 30 brokers repeatedly many times. We relies on our below criterias to compare and contrast the brokers with the best Forex trading.

  • Regulations : it is the guarantee assurance of any investment. We have taken into account both major regulators and minor regulators.
  • Trading conditions: it is the products’ offers of brokers provided to traders.
  • Account types

The rank that we finalised are reflecting the brokers’ regulations, operated platform, and trading conditions.

The regulations

Defining a regulated Forex broker

A regulated Forex broker is the one that follows the governmental licenses issued by trusted authorities such as FCA, FSCA, CySEC and ASIC, within it operation. These licensing bodies ensure the brokers operating the sustainable trading environments, strictly auditing and funding protection policies. A trusted broker is mostly regulated by more than one international authorised financial institutions.

Forex brokers’ reputation – how can we trust a Forex Broker?

The reliability of the largest forex brokers is evaluated based on three basics, which are regulation, trading execution and fund management.

The indicating standards of a oversight broker is its licenses which are issued by highly recommended authorities. Thence, execution of brokers for the unexpected circumstances such as involved dealing desk execution, the resolution for the conflicts between traders and brokers, is also the indicator of trust. The trustworthiness of brokers also relies on the ability of lost of your trades whilst your brokers have financial incentive problems. Lastly, the reliability of a broker reflects the traders’ fund protections in cased of brokers going to be bankrupted. In another words, their clients’ funds would be seperated in various bank account to local authorised banks.

The trading conditions of Forex Brokers

BEST FOREX BROKERS IN SOUTH AFRICA

Spread

The measurement of spread is pip. It measures the difference between the buying and selling price of any currency pairs. For instance, the 15 pips is a wide spread while 0.4 pip is called a tight spread. There are different spreads operated by brokers regarding their FX pairs. Hence, traders will enforce to seek for the tightest spread brokers in order to maximise their profits.

Leverage

The ratio used in Forex pairs is leverage. Regarding the tight movement of Forex market, it requires traders to enlarge their trading sizes in order to increase their possibilities of participating in the market. The leverage formula is 300:1, which means the maximum trading size that traders can enlarge is 300 times. Although there are different leverages among the best forex brokers in South Africa, there are limitations applied to traders’ leverage based on their experience that brokers require.

The forex account types

Despite there are variety of account types, the most favourite account types are narrows to a few number recently. The difference between account types are the live or real account, the demo and swap-free accounts. However, it is limited possibility to manage accounts.

Live or real accounts

These accounts are traded with the real money. The results from trading with these accounts would influence on you account balances.

Demo accounts

The funds of these account are samples which ensure traders free from risks. This account types open trial opportunities for traders to experiencing the trading platform, customer service, and trading conditions. This type of accounts sometimes are unlimited periods of used while others are limited but easily to reactivate.

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