What is Forex Broker?
A foreign exchange broker, also known as an FX broker or a forex broker, buys and sells currencies on behalf of clients while charging a commission for the service.
What Is The Best Forex Broker In South Africa
HF Markets – Overall Best Forex Broker in South Africa.
Exness – Best Forex broker for Raw Spreads.
FxPro – Best Forex Broker with ZAR Account.
Tickmill – Best Forex Broker for Pro Traders.
AvaTrade – Best Forex Broker for Fixed Spreads.
XM – Forex Broker with Ultra-low Account.
Which Forex broker is most reliable in South Africa?
HFM (HotForex)– Overall Best Forex Broker in South Africa. HF Markets SA is regulated with FSCA in South Africa. They are regulated with Tier-1 regulation FCA.
What to look for in Forex broker is in South Africa?
You need to understand the fee structure of your forex broker and the spreads they charge. Major currencies like EUR/USD
should have tight spreads so do a comparison to see what other brokers offer the lowest spreads. If a broker offers lower than 1 pip spread for EURUSD, then it is considered low.
How to check if a forex broker is licensed in South Africa?
Checking if a broker is regulated by the FSCA is easy.
The FSCA offers a search tool for all authorised Financial Service Providers (FSPs) here: https://www.fsca.co.za/Fais/Search_FSP.htm.
Which South African forex broker is best for beginners?
FXTM has 1 million clients registered on its platforms. FXTM micro account & advantage plus account users enjoy zero commissions, but the FXTM advantage account attracts a commission of not more than 2 USD.