Some brokers offer a welcome forex bonus as a reward for opening an account and act as an incentive to begin trading with the broker. These welcome bonuses are typically no-deposit bonuses, meaning new clients do not need to deposit funds into their accounts to start taking advantage of the welcome bonus. These welcome bonuses vary in amount and withdrawal terms and are credited to your new account upon successful registration.
1. The XM Group:
XM is a well-known and well-established online Forex broker with over five million clients from 196 countries worldwide. Trading with XM gives you access to over 25 secure payment methods, 16 full-featured trading platforms, and multilingual customer support in over 30 international languages 24 hours a day, seven days a week.
The electronic pricing engine at XM allows the broker to update the price of each currency pair three times per second, ensuring that the broker’s prices reflect current global forex market levels. Trading accounts can be opened for as little as $5, and all new clients will receive a welcome bonus forex $30 that can be used without first making the minimum deposit.
2. Windsor Brokers:
Windsor Brokers, founded in 1988, is an award-winning online Forex broker with over 30 years of industry experience. Windsor offers Forex and CFD trading on the Windsor MT4 platform, which was developed in-house.
New clients can choose between two account types: the MT4 Trading Account and the VIP Zero Account, each with its own set of conditions tailored to different trading strategies.
The MT4 Trading Account is designed for the support-oriented trader; with training available, hedging permitted the same leverage as the VIP Zero and spread beginning at 1.0 pips on majors. Clients who open an MT4 Trading Account will receive a $30 welcome bonus, which they can use to trade for fully withdrawal profits.
3. TemplerFX:
TemplerFX is an online Forex broker with over ten years of industry experience that was the first to offer to trade on the now-ubiquitous MetaTrader 4 platform. For four platform users, Templer FX MetaTrader can trade Forex almost anywhere using MT4 on your PC/Mac, iPhone, iPad, Windows phone, Blackberry, and Android device.
Accounts can be opened with a low initial deposit of $25, maximum leverage of 1:2000, and additional assistance from Expert Advisors. Traders who open a live account with TemplerFX will receive a welcome bonus of $30, which is free of any deposit requirements and can be traded once your application is approved
Top Forex Brokers In South Africa:
South Africans looking for an online forex broker will have many options. This guide will help to clear the air by reviewing and ranking the three best forex broker south africa right now.
Our reviews focus on critical factors such as supported pairs, payments, commissions, spread regulation, customer service, and more to help our readers make an informed decision.
· Capital.com – Overall Best Forex Broker in South Africa
Capital.com emerged as the clear winner as the best forex broker in South Africa. Those looking for low trading fees will appreciate that Capital.com does not charge commissions, and spreads on EUR/USD starts at a very competitive 0.6 pips.
Capital.com’s minimum lot size is 0.01 – ideal for those on a tight budget. We also like that Capital.com provides a full-fledged demo account with $10,000 in paper trading funds. It is ideal for beginners who want to test their forex trading strategies before placing a real money order.
All supported platforms provide a wide range of trading tools, including real-time pricing, customizable charts, and more. Capital.com is the best forex broker in South Africa for those who want to trade other asset classes. Thousands of stocks and ETFs, as well as cryptocurrencies, indices, and commodities, are included.
· eToro: A Low-Cost Forex Broker with Copy Trading Features
The next option to consider when looking for the best forex brokers in South Africa is eToro. This platform is extremely user-friendly and provides a wide range of tools that will appeal to newcomers. The Copy Trading tool, for example, allows eToro users to replicate the investments of a successful forex trader.
The minimum trade size is 0.01 lots per order. Leverage of up to 1:30 on significant pairs and 1:20 on minors and exotics are available on eToro. eToro charges no forex trading fees other than the spread, which starts at one pip per slide. eToro’s platform also includes other asset classes, which is ideal for those looking to diversify.
eToro’s Smart Portfolios are another popular feature. These are pre-selected investment portfolios that follow a particular market or strategy. The eToro team manages each portfolio, passively allowing South Africans to invest in financial markets.
Users will only need to make a $50 deposit to open an eToro account. Residents of South Africa can deposit funds using a local bank transfer, debit/credit card, Paypal, or other supported e-wallets. eToro provides security and legitimacy by being authorized and regulated by the FCA, CySEC, SEC, and ASIC.
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