What are Brokers?
A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal.
Best Brokers For MT4 In South Africa
IFX Brokers
Features
Established in 2018 and headquartered in South Africa, IFX Brokers is a reputable broker that was built on the principles of trust, transparency, and commitment toward the goals, objectives, and needs of retail traders and institutional investors in South Africa.
With IFX Brokers, traders not only have access to a wide range of tradable instruments, but they also have access to the powerful and user-friendly MetaTrader 4 that can be used on the web, desktop, and mobile devices.
Pros and Cons
| PROS |
| Well-regulated and well-established |
| Range of tradable instruments offered |
| Useful trading tools provided |
| MetaTrader 4 and 5 provided |
Alpari
Features
Alpari was founded in 1998 in Russia, and it is a reputable and well-regulated ECN and STP broker that is currently based in Mauritius, with respective and corresponding regulations to offer its services in several locations where Alpari’s offices are based including South Africa, Mauritius, Nigeria, Russia, and Saint Vincent and the Grenadines.
In addition, Alpari has several other offices that are operated by partners, providing traders from around the world with a wide range of CFD and forex instruments that can be traded through the powerful and popular MetaTrader 4 and MetaTrader 5 trading platforms.
Pros and Cons
| PROS |
| PAMM accounts are offered |
| Customer service offered in more than 30 languages |
| MetaTrader offered |
| Signals derived from AutoChartist |
| Member of the Financial Commission |
| CONS |
| Fixed spreads not offered |
| Lack of education |
Pepperstone
Features
Pepperstone is one of the largest and most established online trading brokers in the world, reaching traders from more than 65 countries worldwide. Pepperstone offers more than 80 financial instruments spread across forex, commodities, energies, exchange-traded funds (ETFs), and many others that can be traded through MetaTrader 4 and MetaTrader 5.
Pepperstone is well-known for its innovative trading technologies paired with competitive trading conditions, low latency, and high-speed trade execution.
Pros and Cons
| PROS |
| Well-regulated and large firm |
| Negative balance protection applied |
| Social trading opportunities offered |
| Allows all trading strategies |
| Offers discounted VPS packages to eligible clients |
| CONS |
| Fixed spreads are not offered |
| Limited financial instruments that can be traded |
Tickmill
Features
Tickmill is a multi-regulated and multi-asset online forex broker that offers unique trading solutions to both retail and institutional clients in South Africa and the rest of the world. Tickmill offers more than 80 trading instruments that can be traded either through MetaTrader 4 or MetaTrader 5.
Tickmill’s comprehensive package consists of a choice between flexible account types, a vast selection of trading tools, and competitive trading conditions.
Pros and Cons
| PROS |
| Negative balance protection offered |
| FIX API, VPS, and AutoChartist offered |
| Client funds are kept segregated |
| Member of an investor compensation fund |
| Multi-regulated by several entities |
| CONS |
| Limited educational material |
| Cryptocurrency trading not offered |
| Fixed spreads are not offered |
Which broker is best for MT4?
10 Best MetaTrader4 / MT4 Brokers (2023)
- CMC Markets – High Forex Trust Score.
- HF Markets – Highly Regulated Broker Choice in SA.
- FXTM – Low Deposit MT4 Broker.
- FXPro – Excellent MT4 Mobile Trading Experience.
- IC Markets – Low Spread MT4 Broker.
- Axi – Best MT4 Broker for Beginners.
- IG – Award-Winning MetaTrader4 Broker.
What broker to use for MetaTrader 4 in South Africa?
Summary: best MT4 brokers in South Africa
| MT4 Broker | Regulation(s) | Forex Trading Platform(s) |
|---|---|---|
| XM Broker | ASIC, CySEC | Metatrader 4 for all devices |
| Avatrade | FSCA, ASIC | MT4 for web, mobile devices, |
| Tickmill | FCA (UK) | MetaTrader 4 for all devices |
| IC Markets | ASIC, CySEC regulated. FSCA (applied) | MT4 & MT5 for all devices. Plus cTrader. |