Forex trading is a vast field that is getting known by the world daily. There is a median between the seller and the buyer to do trading, called the broker. A broker can be any person or company.
That broker looks over all the transactions between the buyer and the seller; in turn, they get the desired commission. In forex trading, the broker gets the commission after the completion of any trade, whether it is of stock or currency. Forex trading is standard in South Africa, like in the whole world.
Here we will look for the top 3 brokers in south Africa out of numerous.
Tickmill:
Tickmill is one of the top 3 brokers in south Africa. They provide the best environment and investment plans to their investors and buyers and the most trustworthy ones for their clients.Tickmill is regulated by Seychelles Financial Services Authority (FSA).
They offers their client the lowest amount of a 100 USD deposit to a Tickmill account. You can trade forex on Tickmill with all more than 60 pairs of currencies in the form of crypto.
Tickmill is no doubt the top south African broker. Still, a good thing for Islamic clients is that Tickmill is also an Islamic forex trading broker.
The Tickmill account is valid for the whole day. Tickmill has different versions, including demo accounts, with varying amounts of maximum balance requirements.
Types of accounts Tickmill offers are five with different leverages with different amounts of change in the currency exchange rate.
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Tickmill classic account:
Tickmill definitive account has three major currencies, USD/EUR/GBP, with a maximum deposit amount of 100 USD.
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Tickmil Pro account:
Tickmil pro account has the same significant currencies. It leverages the Tickmill classic account but with a different price or point, which is lesser than the Tickmill definitive account, PIP of 0.0.
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Tickmil VIP account:
Tickmill VIP account has the same properties as the pro account but with a different max investment amount of 50,000 USD.
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Tickmil Islamic account:
Tickmill Islamic account has the same properties as the Tickmill pro account.
HotForex:
HotForex is the second top forex trading broker in south Africa. It provides excellent trading opportunities with the best strategies, proper guidance, and brokers.
HotForex gives their customers the facility of numerous accounts to do trading. With HotForex trading, you can keep the history of your every trade with various methods of transactions.
HotForex trading brokers have many types of accounts, including demo accounts.
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Micro HotForex account:
It has a minimum deposit of 5 USD with 1 into 1000 leverage and 1 Pip.
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Premium HotForex account:
Premium HotForex account has a minimum deposit of 100 USD with 1 into 500 leverage and the same amount of PIP as the micro account.
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Zero spread account:
Zero spread account has a minimum amount of 200USD to deposit and the same level of leverage as the premium account with 0 forex PIP level.
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Auto Hotforex account:
Auto HotForex account has a minimum 200 USD deposit with the premium account leverage and 1 PIP level.
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HFCopy HotForex account:
It has a minimum deposit of 100 to 300 USD with 1 into 400 leverage and PIP level.
With all the above statements, HotForex provides the Islamic account, risk-free swap, and demo account with proper secure transactions and trustworthy brokers.
Exness:
Exness is the third best and most preferred broker to do forex trading. It has low deposit ratios with highly maintained standards. Exness is trusted at its best by its clients and has rapid transaction methods with high liquidity and various account types.
- The Exness brokers give an extensive amount of traders to the forex platform with their high skills and trading experiences.
- It is run by the South African company Seychelles.
- Exness has ZAR accounts with 50 above-base currencies and 36 cryptocurrency pairs.
- It might not be available in Europe, but it can be run in the United Kingdom and South Africa. Exness security is regulated by FSCA and is licensed worldwide.
- It has comparatively higher leverage on forex than other brokers of 1 into 3000.
Final words:
South Africa has the list of best brokers for forex trading. The above-mentioned three best south African brokers offer their traders the best liquidity, lowest minimum deposit, and higher leverage than others.
You can get more information about the best South African forex brokers by forex trading South Africa
