A forex broker, also known as a retail forex broker, buys and sells currencies on your behalf. The benefit of having a forex broker includes 24-hour market access and the ability to speculate on currency pairs all over the world.
Find below are the list of Forex Brokers In South Africa
Forex Brokers Johannesburg
Address: 40 Young Ave, Houghton Estate, Johannesburg, 2041
Hours: Open ⋅ Closes 4PM
Phone: 082 561 4455
BlackStone Futures
Address: 5th Floor, The Mall Offices, 11 Cradock Ave, Rosebank, Johannesburg, 2196
Hours: Open ⋅ Closes 10PM
Phone: 0860 111 563
Forex Capital – FX Capital
Address: 16 St Andrews Dr, Durban North, 4051
Hours: Open ⋅ Closes 5PM
Phone: 031 536 8843
QuickTrade (Start Trading Today)
Address: Floor 5, WeWork South Africa (Pty) Ltd – The Link, 173 Oxford Rd, Rosebank, Johannesburg, 2196
Hours: Open ⋅ Closes 4PM
Phone: 072 988 8765
Which broker is the best for forex in South Africa?
Best South African Forex Brokers
Exness – Low minimum deposit forex broker in South Africa.
XM Trading – Fast Execution & low spread.
Avatrade – Fixed spread forex broker.
FXCM – Good Overall FSCA Regulated broker.
Plus500 – Good Crypto CFD platform.
IC Markets – Best ECN Forex Broker.
Which forex broker is the best?
Best Forex Brokers
CMC Markets: Best Overall and Best for Range of Offerings.
London Capital Group (LCG): Best for Beginners.
Saxo Capital Markets: Best for Advanced Traders.
XTB Online Trading: Best for Low Costs.
IG: Best for U.S. Traders.
Pepperstone: Best for Trading Experience.
Who is the richest forex trader in South Africa?
1 Top 10 Richest Forex Traders in South Africa.
1.1 Jabulani Ngcobo a.k.a Cash Flow Ngcobo.
1.2 Ref Wayne.
1.3 Sandile Shezi.
1.4 Louris Tshakoane.
1.5 George van der Riet.
How much do I need to start trading forex in South Africa?
How much do I need to start trading Forex? Trading accounts can be opened for as little as 5 USD (70 ZAR), though most brokers require a minimum deposit between 100 USD and 200 USD
Do Forex traders pay tax in SA?
Any profits you make with Forex trading are taxable, just like your regular income, which means you have to file a Personal Income Tax form. The tax rate can range from 18% to 40% and it depends on the profits you’ve made.
Do forex brokers lose money?
According to research in South Africa, the consensus in the Forex market is that 70% to 80% of all beginner Forex traders lose money and end up quitting. Most Forex traders fail.
Can I trade Forex without a broker?
If you want to trade forex without a broker, you can start by checking different market quotes online and finding forecasts of how different currencies will be traded in the future. You can also borrow money in a currency that has low-interest rates so you can repay the money with no difficulty.