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Nigeria crisis

May 14th 2017 at 09:55
Nigeria crisis ochembac@who.int Sun, 14/05/2017 - 14:55

13 April 2017 – A vaccination campaign is under way in Nigeria to contain an outbreak of meningitis C.

South Sudan crisis

May 14th 2017 at 10:09
South Sudan crisis atema@who.int Sun, 14/05/2017 - 15:09

27 March 2017 - Ongoing conflict in South Sudan aggravates an already fragile socio-economic situation, affecting the overall health and livelihood situation further increasing the risk for communicable disease outbreaks and malnutrition. 

Cholera

February 21st 2018 at 06:27
Cholera teklemariamm@who.int Wed, 21/02/2018 - 12:27

Outbreaks and other emergencies updates

February 21st 2018 at 06:30
Outbreaks and other emergencies updates elombatd@who.int Wed, 21/02/2018 - 12:30

Weekly bulletin

May 10th 2018 at 14:18
Weekly bulletin elombatd@who.int Thu, 10/05/2018 - 19:18

The Weekly Bulletin focuses on public health emergencies occurring in the WHO African Region. Each week, a brief description, followed by public health measures implemented and an interpretation of the situation is provided for a few selected events.

A table is provided at the end of the bulletin with information on all new and ongoing public health events currently being monitored in the region, as well as recent events that have largely been controlled and thus closed.

Ebola

May 11th 2018 at 14:18
Ebola elombatd@who.int Fri, 11/05/2018 - 19:18

On 1 August 2018, the Ministry of Health of the Democratic Republic of the Congo notified WHO of a new outbreak of Ebola virus disease (EVD) in North Kivu Province, in the eastern part of the country.

Coronavirus (COVID-19)

January 31st 2020 at 06:00
Coronavirus (COVID-19) elombatd@who.int Fri, 31/01/2020 - 12:00

WHO is scaling up novel coronavirus preparedness efforts in the African region and supporting countries to implement recommendations outlined on 30 January.


View technical documents

World Mental Health Day 2020

World Mental Health Day 2020
In celebration of World Mental Health Day 2020, this year’s theme is “Move for Mental Health: Let’s Invest” to advocate for increased international and domestic financing for mental health and well-being.
elombatd@who.int Mon, 05/10/2020 - 14:26

Opening statement, COVID-19 Press Conference, 15 October 2020

Opening statement, COVID-19 Press Conference, 15 October 2020
Thank you very much to colleagues from the Africa CDC and to colleagues from the media as well. Your role in letting people know what’s happening in the collective effort to contain this pandemic is extremely important. Thank you, John, for the invitation to join this press conference. I’m very pleased to have this conversation about what countries have achieved over the past eight months and the priorities going forward in the COVID-19 response.
elombatd@who.int Thu, 08/10/2020 - 12:34

Opening statement, COVID-19 Press Conference, 22 October 2020

Opening statement, COVID-19 Press Conference, 22 October 2020
Good morning, good afternoon, bonjour, bom dia to everyone and thank you all for joining this press conference on how the widespread use of high-quality rapid testing in Africa can revolutionize the continent’s response to COVID-19. I’m pleased to be joined in this conversation by Professor Abdoulaye Toure, the Director-General of the National Institute of Public Health in Guinea, bienvenue le professeur, and Dr Susan Ndidde Nabadda, who is the head of the National Health Laboratory in Uganda. Welcome, Dr Susan.
cadams@who.int Thu, 22/10/2020 - 12:54

Opening statement, COVID-19 Press Conference, 29 October 2020

Opening statement, COVID-19 Press Conference, 29 October 2020

Good morning, good afternoon, bonjour and thank you for joining this press conference on how COVID-19 is spurring and stimulating innovation in Africa, with more than 120 health innovations piloted or adopted on the continent just this year.

cadams@who.int Fri, 30/10/2020 - 10:12

Opening statement, COVID-19 Press Conference, 5 November 2020

Opening statement, COVID-19 Press Conference, 5 November 2020
Good morning, good afternoon, bonjour and I’d like to thank all our colleagues from the press for having joined us for this press conference today indeed to discuss how COVID-19 has impacted on the provision and on access to essential health services in Africa.
elombatd@who.int Thu, 05/11/2020 - 17:11

World Diabetes Day 2020

World Diabetes Day 2020
On 14 November, the international community commemorates World Diabetes Day to raise awareness of this chronic disease. This is particularly important in the African Region, where more than half of the 19 million people living with diabetes don’t know they have it.
elombatd@who.int Fri, 06/11/2020 - 11:38

Statement on health emergencies to the World Health Assembly

Statement on health emergencies to the World Health Assembly
As has been said already, health workers in African countries and in other countries, our colleagues in WHO, UN partners and others, have worked tirelessly and continue to work tirelessly on the COVID-19 response to save lives and mitigate socio-economic impacts of the pandemic. We know that the most vulnerable communities are suffering the most.
elombatd@who.int Wed, 11/11/2020 - 09:21

Statement on polio to the World Health Assembly

Statement on polio to the World Health Assembly
Honourable Ministers, dear delegates and colleagues, I would like to start first of all by congratulating the governments, the partners, the communities, including frontline workers, survivors and caregivers, for your support and efforts in kicking wild poliovirus out of the WHO African Region. We celebrated this historic milestone in August, following more than 25 years of solidarity, dedication and an incredible effort to reach every community.
elombatd@who.int Thu, 12/11/2020 - 15:11

Joint WHO and UNICEF Call to Action on Polio and Measles

Joint WHO and UNICEF Call to Action on Polio and Measles
On the eve of the 73rd World Health Assembly, WHO and UNICEF jointly issued an urgent call to action to avert major measles and polio epidemics as COVID-19 continues to disrupt immunization services worldwide, leaving millions of vulnerable children at heightened risk of vaccine-preventable diseases. 
elombatd@who.int Thu, 12/11/2020 - 15:12

Opening statement, COVID-19 Press Conference, 19 November 2020

Opening statement, COVID-19 Press Conference, 19 November 2020
Good morning, good afternoon, Bonjour, tout le monde and thank you all for joining us for this press conference on the possible resurgence of cases in Africa and how countries are preparing as we approach the holiday season.
elombatd@who.int Thu, 19/11/2020 - 20:55

Welcome to the resumed 70th session of the WHO Regional Committee for Africa

Welcome to the resumed 70th session of the WHO Regional Committee for Africa
Honourable Minister of Health of the Population, and of Women’s Promotion and Integration of the Republic of Congo, and Chairperson of the Seventieth session of the Regional Committee for Africa, Madame Jacqueline Lydia Mikolo,
elombatd@who.int Tue, 24/11/2020 - 13:09

Pandemics: Building Back Better After COVID-19

Pandemics: Building Back Better After COVID-19
I’d like first to recognize and thank Loyce Pace, the President and Director of Global Health Council for having invited me to this panel. Loyce is an old friend and colleague and I’d like to congratulate Loyce for the important role that she’s going to be playing going into the future. I’d like to greet my fellow panelists. It’s so great to be with you and I look forward very much to a wonderful conversation. I’d also like to greet those who have joined us, our guests, colleagues, ladies and gentlemen.
elombatd@who.int Wed, 25/11/2020 - 15:24

Opening statement, COVID-19 Press Conference, 26 November 2020

Opening statement, COVID-19 Press Conference, 26 November 2020

Remarks by WHO Regional Director for Africa, Dr Matshidiso Moeti

Good morning, good afternoon, bonjour and thank you all for having joined us today to talk about COVID-19 vaccine readiness in the African Region.

A warm hello and welcome to colleagues and friends. I hope Helen will be joining us soon, Professor Helen Rees but hello to Professor Pontiano Kaleebu, and Professor Fredrick Were. Thank you so much for having taken the time to join this conversation today.

elombatd@who.int Mon, 30/11/2020 - 06:28

World AIDS Day 2020

World AIDS Day 2020
On 1 December every year, the global community comes together to mark World AIDS Day to show support for people living with HIV and to remember those who have lost their lives to AIDS.
elombatd@who.int Mon, 30/11/2020 - 10:04

Opening statement, COVID-19 Press Conference, 3 December 2020

Opening statement, COVID-19 Press Conference, 3 December 2020
Good morning, good afternoon, and thank you all for joining this press conference. It is my great pleasure to announce the launch of the Africa Infodemic Response Alliance, or AIRA.
elombatd@who.int Thu, 03/12/2020 - 16:12

Asparugus and Oyster Mushrooms

October 3rd 2020 at 12:27

It’s all about the juice with these seasonal veggies. Steam the asparagus in a little water with the lid on until soft, then put them with their green juice into a separate bowl and allow to cool. Add a huge lump of butter to the pan, allow it to melt and then add your mushrooms Read more...

The post Asparugus and Oyster Mushrooms appeared first on Clarens News.

Clarens News October 2020

October 11th 2020 at 05:14

Clarens Art Experience Special Edition this weekend was a tremendous success, and we look forward to it becoming a regular event in the village. Huge thanks to all of you worked so hard to bring us such a great event!

The post Clarens News October 2020 appeared first on Clarens News.

Fertility Caves Closed

October 13th 2020 at 06:06

Motouleng Heritage Site, the sacred Fertility Caves between Clarens and Fouriesburg have been closed due to the Coronavirus Pandemic. Police arrived recently and all residents of the largest inhabited overhang in the southern hemisphere were removed from the holy site which is central to traditional sangomas and various esoteric Christian church sects. Environmentally it is Read more...

The post Fertility Caves Closed appeared first on Clarens News.

Clarens Country Market

October 15th 2020 at 05:34

Every Saturday morning there is a feast of local food and ingredients as well as arts and craft at the Bibliophile bookshop in Clarens.

The post Clarens Country Market appeared first on Clarens News.

Nnete Foundation Visit

October 15th 2020 at 13:24

The Nnete Foundation is a non-profit organisation located in the #Kgubetswana Township of Clarens, with the primary aim of using teaching as a tool for empowerment. The Foundation has two main programs, namely Nnete Education and the Teacher Training Center, and exists to break the poverty cycle through education. Nnete Ed Center The Center was Read more...

The post Nnete Foundation Visit appeared first on Clarens News.

Clarens News 16 October

October 16th 2020 at 08:47

This week’s Clarens News has quite a bit on food, art, history and even a word or two about the legendary Clarens Bigfoot! Featured painting of Titanic Rock by Sam Tshabalala.

The post Clarens News 16 October appeared first on Clarens News.

Clarens News October 23

October 23rd 2020 at 06:52

This week’s News includes cherries, birdlife, biking, classic clothing, bigfoot and leather. Enjoy, and as always if you would like to be part of it, advertising or just sharing your pictures and stories, email editor@clarensnews.co.za

The post Clarens News October 23 appeared first on Clarens News.

Clarens Village Conservancy Fun Run

November 6th 2020 at 10:13

We are all missing the ParkRun experience in Clarens, no one more than the CVC who have built all these beautiful trails and routes to enjoy and explore. In fact, they’ve been missing it so much that they have decided to host the CVC Fun Run on the same route! Entirely at your own pace Read more...

The post Clarens Village Conservancy Fun Run appeared first on Clarens News.

New Route in the CVC

November 6th 2020 at 11:02

The new route by the Clarens Kloof Dam proves to be quite popular with visitors and locals alike! Demands for a shorter route circulating closer to the water edge kept pouring in so we added a new loop to the Kloof Dam in the Clarens Nature Reserve. This route complements the extensive network of trails Read more...

The post New Route in the CVC appeared first on Clarens News.

Friday the 13th

November 13th 2020 at 16:45

 “…lucky for some…” Just as opening an umbrella indoors, breaking a mirror or an owl sitting on the roof are considered symbols of bad luck, Friday the 13th is also considered to be a day that brings nothing but bad luck. The origins of this day are unknown, but  there seem to be many origin Read more...

The post Friday the 13th appeared first on Clarens News.

Emirates Airlines cancel flights to South Africa

October 3rd 2020 at 10:05

The United Arab Emirate national carrier Emirates Airlines flying out of the business and leisure city of Dubai cancelled all flights to South Africa.

Reports from an online source reveals that this cancellation takes immediate effect due to protest against government regulation that requires crew members to be subjected to the same protocol as international travellers arriving and departing from South Africa.

South Africa eased its Coronavirus lockdown regulations from 1st October allowing international tourist and business passengers from predetermined low risk countries to arrive on its shores.

Abiodun Abidoye writes from Pretoria

Source: eNCA

building under blue sky

abiodunabidoye

Nigerian Army Launches Cyber Warfare Exercise

October 17th 2020 at 14:58

The Nigerian Army announced the commencement of a cyber warfare exercise from the 20th of October to the 31st of December.

Recently, reports of cyber attacks on state institutions revealing personal information of some government employees including those of the now defunct Special Anti-Robbery Squad SARS were leaked and made available online.

Image Source: Nigerian Army

The Army statement reads that the exercise is specifically designed to identify, track and counter negative propaganda in the cyber space.

While assuring Nigerians of the Army’s commitment to sustain peace and security, the exercise would likely bring the Army in confrontation with Nigerians on the streets of Major cities in the country as protest against police brutality tagged “EndSARS” has been ongoing for over 10 days unabated and gaining a more coordinated momentum.

Abiodun Abidoye writes from Pretoria, South Africa.

people wearing green and brown camouflage military suit while standing holding rifles

abiodunabidoye

EU: Africa Hackathon looking for participants and partners to jumpstart cross-continent innovation

October 21st 2020 at 10:04

The EU: Africa online hackathon is seeking innovative solutions to socio-economic problems in Africa that have been amplified by the COVID-19 crisis. Estonia and the African Union, in cooperation with Finland, Ireland, Luxembourg and Poland, with the implementing partners Garage48 and Smart Africa are organising an online cross-continental hackathon “EU-Africa The Post Crisis Journey” from the 10th to the 13th of December 2020. Registration of mentors and participants ongoing at http://www.euafricathejourney.com

What is the EU-Africa Online Hackathon Program about?

It is an African-European online hackathon program aimed at finding innovative solutions to socio-economic problems that have been further escalated by the outburst of the COVID-19 pandemic. We aim to engage in 10,000 passionate tech-savvy and socially conscious problem solvers, 300 mentors, and 500 community organizations across Africa and Europe. Winning teams will get their hands on a 100,000 Euros prize fund , develop their prototypes further in the follow-up program of the hackathon, and implement their world-changing ideas in real life.

How does it benefit Africans Post Covid-19?

The post-Covid-19 era offers Africa an important opportunity to revitalize its economy under a green and smart framework that supports sustainable technologies. More importantly, it provides a platform for young Africans to put their creativity, innovation, and ingenuity to work in creating solutions that will help Africa recover better and faster.

Where are the targeted impact areas on the African continent?

  • Education
  • Food Security
  • Health and Wellness
  • Governance
  • Economy and entrepreneurship
  • Smart Cities in Africa
  • Cyber Security and Data Protection
  • Big Data
  • Banking and Financial Services
  • Job Security    

When is it commencing, Criteria for eligibility and how to join the program? 

The Call for Applications is open and two online matchmaking sessions will be held on 28th November and 5th December to combine the best teams for ideas before the main online hackathon which will run from 10-13th December 2020.

This program is open to team and individual sign-ups – visionaries, developers, designers, marketers, entrepreneurs, engineers, and anyone socially active. Registration ongoing at https://eventornado.com/event/eu-africa-the-post-crisis-journey

Yusuf Mutamba is the African Project Coordinator charged with participants outreach, creating awareness and enabling credibility for the program in Africa.

Abiodun Abidoye writes from Pretoria for Africa Online News

blur bright business codes

abiodunabidoye

Ethiopia’s federal forces on final phase of law enforcement operation

November 26th 2020 at 02:17

The 72 hours window to surrender given by the Ethiopian federal government to the regional Tigray Peoples Liberation Front (TPLF) has expired.

Prime Minister Abiy Ahmed in a statement released 26th November directed the federal forces to carry out a third and final onslaught as they uphold the rule of law in Ethiopia.

Apache Attack Helicopter

The Prime minister in his statement assured all civilians that great care will be taken to protect them from any harm as the federal forces marches into the Tigrayan capital city of Mekelle.

He also said that “all precautions will be taken to ensure that heritage sites, places of worship, public facilities, development institutions and residential areas will not be targets”.

Holy Trinity Cathedral, Addis Ababa

The Prime minister urged the people of Mekelle and its environ to disarm and stay indoors while avoiding military targets. He also requested patriotic elements in the region to expose the ring leaders of the TPLF by handing them over to law enforcement.

According to Prime Minister Abiy Ahmed, the Ethiopian federal forces have devised a strategy to bring the ring leaders of the TPLF to justice without compromising places of worship, heritage sites, development institutions, public and private properties.

Compiled by Abiodun Abidoye for Africa Online News, a web publication of Alpha Nitrom

national colorful flag of ethiopia under cloudy sky

abiodunabidoye

South Africa enters a second wave of Covid-19 infections..

December 9th 2020 at 23:17

South Africa as a whole now meets the requirements for a second wave, according to the South African COVID-19 Modeling Consortium (SACMC) assessment. Today, 6,710 new cases have been registered, reflecting an 18 per cent positive test rate.

A second wave is a new wave lasting one or more days, commencing after the “end of the first”.  It furthermore refers to an occurrence, after the previous peak, where the caseload returns to at least 30% of the previous peak’s caseload.

Knowing that most people are tired of COVID-19 and its preventive measures, we urge South Africans not to become complacent and let their guard down by failing to follow the requisite preventive measures properly.

Prof Adrian Puren, Acting Executive Director of the National Institute for Communicable Diseases (NICD) said, “as we head into the holiday season, everyone has a part to play. It’s in our hands. We urge the public to avoid mass meetings or events where there is no or limited physical distancing or ventilation. We urge you keep physical distancing, use face masks in public, and regularly sanitize or wash hands”.

The public is encouraged to please contact the nearest medical practitioner immediately if COVID-19 symptoms are suspected.

Source: NICD

pexels-photo-3992933.jpeg

abiodunabidoye

A Personal Experience of South African Authors

October 15th 2020 at 03:25

In the late 60s and early 70s in South Africa, there was rock n roll, curfews and banned books. The curfew did not affect me, neither did the rock n…

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Love letter to Olympic de Marseille – From South Africa with love.

October 15th 2020 at 06:12

Like Obelix from Asterix and Obelix, I fell into the cauldron, the cauldron of Marseille. “À jamais les premiers” – Forever the first Olympique de Marseille are the first, and…

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Young Artists Design Wild Bean Cafe Cups

October 19th 2020 at 00:51

Themed ‘A Story in Every Cup,’ the competition attracted over 300 entries across 16 tertiary institutions nationally.  Visual arts students had the opportunity to draw inspiration from the top 5…

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Atlas For Development Launches The Second Edition of “2063 Academy”

October 22nd 2020 at 12:18

As you know Over Saturated is about Africa, and about developing African content. Atlas for Development recently got in contact with me to see if we would partner with them…

The post Atlas For Development Launches The Second Edition of “2063 Academy” appeared first on .

EL Is Small! – A new video from Onesies By Fadz

October 29th 2020 at 18:26

As much as I love my hometown for how interconnected social circles are, it tends to bring about some awkward moments… After a long hiatus Onesies By Fadz is back…

The post EL Is Small! – A new video from Onesies By Fadz appeared first on .

CGL captain, Protea Women’s player and teacher Yolani Fourie KFC Mini-Cricket Provincial Seminar

October 31st 2020 at 08:00

Central Gauteng Lions women’s captain, Proteas player and teacher Yolani Fourie talks to Dalin Oliver about her cricket career and women’s cricket Yolani Fourie talks at the KFC Mini-Cricket Seminar…

The post CGL captain, Protea Women’s player and teacher Yolani Fourie KFC Mini-Cricket Provincial Seminar appeared first on .

Fixed Angle Implants

November 19th 2020 at 03:19

Fixed angle Implants are made in DSC or dynamic condylar plate 95°, it can also be used in MIPO majorly with the fractures of the distal femur and proximal femur. At the…

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Law of Attraction (#LoA): ‘So, Are You Living Happily, Ever After?’

December 17th 2020 at 11:27

If your answer is “no”, or “not really”, then today is the day to do something about it. Become intimately acquainted with the law of attraction that impacts your life…

The post Law of Attraction (#LoA): ‘So, Are You Living Happily, Ever After?’ appeared first on .

South African celebration of wealth – I’m mad about it

January 12th 2021 at 11:56

Three key things happened recently. Elon Musk became the richest person in the world. Trevor Noah bought a massion in Bel-Air for $27.5 million. South African influencers were paid by…

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Opening statement, COVID-19 Press Conference, 14 January 2021

Opening statement, COVID-19 Press Conference, 14 January 2021
I am very pleased to be joined in this briefing by two colleagues, friends, and leaders, a brother and sister who are working very hard on COVID-19 in Africa. First,  Professor Francisca Mutapi of the University of Edinburgh, and Dr Chikwe Ihekweazu, who is the  Director General of the Nigeria Centre for Disease Control. A warm welcome and Happy New Year to both of you.
elombatd@who.int Sun, 17/01/2021 - 06:11

‘How’ evolution, expression, and star signs birthed MissSire

January 18th 2021 at 12:21

Change is a process that we’re all constantly met with throughout our lives. Whether it’s a result of difficult experiences, circumstances, or the realisation that we’ve outgrown our former selves.…

The post ‘How’ evolution, expression, and star signs birthed MissSire appeared first on .

Somali troops may have been drawn into Ethiopia’s civil war

January 20th 2021 at 03:52
By: Eyaaz

The Mail & Guardian spoke to Somalis about their relatives who disappeared after signing up for military training and fear they may have been killed

The post Somali troops may have been drawn into Ethiopia’s civil war appeared first on The Mail & Guardian.

The rare fairytale of Percy Tau

January 20th 2021 at 08:13
By: Eyaaz

Through much hard work and a bit of good fortune, the South African attacker has converted a potential horror story into magic

The post The rare fairytale of Percy Tau appeared first on The Mail & Guardian.

No one should be as rich as Elon Musk

January 20th 2021 at 12:08

The reactions to Elon Musk’s billionaire status are evidence that far too many South Africans have not fully grasped the destructive consequences of inequality. Entrepreneur Musk was recently crowned the richest man in the world. The founder and chief of Tesla Motors sits on a total net worth of $195-billion. The rapid swelling of Musk’s […]

The post No one should be as rich as Elon Musk appeared first on The Mail & Guardian.

Lala ngoxolo Mvelase Jackson Mthembu

January 21st 2021 at 08:40
By: Eyaaz

In his announcement, President Cyril Ramaphosa called the late minister ‘a life-long champion of freedom and democracy’

The post Lala ngoxolo Mvelase Jackson Mthembu appeared first on The Mail & Guardian.

Senior Programme Officer – Policy sought

January 21st 2021 at 09:32

The AAS seeks to recruit a highly motivated professional who will craft relevant policy documents for diverse audiences

The post Senior Programme Officer – Policy sought appeared first on The Mail & Guardian.

Repo rate remains unchanged at 3.5%

January 21st 2021 at 10:32
By: Eyaaz
The South African Reserve Bank has unanimously decided to keep the repo unchanged at 6.5%.

The South African Reserve Bank’s MPC has decided to keep the repo rate unchanged, at 3.5%, to let the actions it took last year trickle down into the economy

The post Repo rate remains unchanged at 3.5% appeared first on The Mail & Guardian.

Power shift at Luthuli House

January 21st 2021 at 14:00
By: Eyaaz

Ace Magashule’s move to distance himself from Carl Niehaus signals a rebalancing of influence and authority at the top of the ANC

The post Power shift at Luthuli House appeared first on The Mail & Guardian.

22 January 2021

January 21st 2021 at 20:50

The Digital Edition is an exclusive product available to our subscribers

The post 22 January 2021 appeared first on The Mail & Guardian.

Opening statement, COVID-19 Press Conference, 21 January 2021

Opening statement, COVID-19 Press Conference, 21 January 2021
I am very pleased to be joined in this briefing by two colleagues, two friends and brothers, Mr Mohamed Malick Fall, UNICEF Regional Director for Eastern and Southern Africa and Mr Thabani Maphosa, Managing Director of Country Programmes with Gavi, the Vaccine Alliance.
elombatd@who.int Thu, 21/01/2021 - 14:41

Changing corporate purpose is set to transform M&A decision-making in South Africa

January 22nd 2021 at 05:06

Today’s organisations must demonstrate a sincere commitment to the wellbeing of employees customers and surrounding communities

The post Changing corporate purpose is set to transform M&A decision-making in South Africa appeared first on The Mail & Guardian.

ACFTA should help cross-border traders

January 22nd 2021 at 05:15

Enlarged regional markets offer local informal enterprises supply and value chain linkages into other markets

The post ACFTA should help cross-border traders appeared first on The Mail & Guardian.

The Portfolio: Tshepiso Mazibuko

January 22nd 2021 at 07:51
By: Eyaaz

Photographer Tshepiso Mazibuko says she is an artist at heart, and lets her imagination take control

The post The Portfolio: Tshepiso Mazibuko appeared first on The Mail & Guardian.

Why Cameroon is obsessed with hosting the Afcon

January 22nd 2021 at 08:11
By: Eyaaz

The African nation is hoping to use the tournament to paper over the divisions of the Anglophone crisis and the cracks made by a dictator who has ruled for almost four decades. Will it work?

The post Why Cameroon is obsessed with hosting the Afcon appeared first on The Mail & Guardian.

Awesome Beginner’s guide to Law of Attraction in 2021

January 22nd 2021 at 09:17

Every drop of ‘feeling better’ is like a magic elixir! Kick-start 2021 with this easy to follow guide to the Law of Attraction – P.A.Pilio – Let’s start with what…

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Zuma, Zondo play the waiting game

January 22nd 2021 at 14:00
By: Eyaaz

The former president says he will talk once the courts have ruled, but the head of the state capture inquiry appears resigned to letting the clock run out as the commission's deadline nears

The post Zuma, Zondo play the waiting game appeared first on The Mail & Guardian.

Disinformation harms health and democracy

January 22nd 2021 at 14:00
By: Eyaaz

Conspiracy theorists abuse emotive topics to suck the air out of legitimate debate and further their own sinister agendas

The post Disinformation harms health and democracy appeared first on The Mail & Guardian.

Cryptic crossword 264 – January 22

January 23rd 2021 at 03:40

Don't mind the summer heat - fire up the brain cells adn tackle this week's cryptic crossword

The post Cryptic crossword 264 – January 22 appeared first on The Mail & Guardian.

What the Biden presidency may mean for Africa

January 23rd 2021 at 14:00
By: Eyaaz

The new US administration has an interest and much expertise in Africa. But given the scale of the priorities the administration faces, Africa must not expect to feature too prominently

The post What the Biden presidency may mean for Africa appeared first on The Mail & Guardian.

Fashion’s future is bricks and clicks

January 24th 2021 at 01:00
By: Eyaaz

Lockdown forced reluctant South African clothing retail stores online: although foot traffic in brick-and-mortar stores remains important in a mall culture like ours, the secret to success is innovation

The post Fashion’s future is bricks and clicks appeared first on The Mail & Guardian.

Egypt, Seychelles get first jabs

January 24th 2021 at 14:00

The two countries have rolled out China’s Sinopharm vaccine, but data issues are likely to keep some countries from doing the same

The post Egypt, Seychelles get first jabs appeared first on The Mail & Guardian.

From the land of the free to the country of the unhinged

January 25th 2021 at 06:02
By: Eyaaz

Democracies are fragile entities that are often captured and exploited by populists, to the detriment of all concerned

The post From the land of the free to the country of the unhinged appeared first on The Mail & Guardian.

Debunk the lies of anti-vaxxers

January 25th 2021 at 06:11
By: Eyaaz

There’s more than enough to be suspicious about with Big Pharma, but know your enemy

The post Debunk the lies of anti-vaxxers appeared first on The Mail & Guardian.

The Book Stokvel: Africa writes; we read

January 26th 2021 at 02:24
By: Eyaaz

Sarah Mokwebo explains how her book stokvel concept works, and how it benefits members

The post The Book Stokvel: Africa writes; we read appeared first on The Mail & Guardian.

Africa can have an inclusive, cohesive and sustainable recovery from Covid

January 26th 2021 at 03:00

Four main measures — building the African Continental Free Trade Area, reducing macroeconomic vulnerability to debt, seizing digital economy opportunities and ensuring a just transition to a zero carbon economy — will enable this.

The post Africa can have an inclusive, cohesive and sustainable recovery from Covid appeared first on The Mail & Guardian.

Polio Eradication and Polio Transition Planning - 148th session of the WHO Executive Board

Polio Eradication and Polio Transition Planning - 148th session of the WHO Executive Board
My WHO AFRO colleagues and I were honored and excited to be part of the joyful celebration by our Member States and the Global Polio Eradication Initiative partners of the historic achievement last year, of the certification of regional interruption of wild poliovirus.
elombatd@who.int Tue, 26/01/2021 - 14:08

BMW X7: Is this the peak of our greed?

January 26th 2021 at 23:00
By: Eyaaz

Even next to its luxury peers, the seven-seat behemoth is a little too much

The post BMW X7: Is this the peak of our greed? appeared first on The Mail & Guardian.

Business leaders must be the agents of change

January 27th 2021 at 05:34
By: Eyaaz

Covid-19 and the Fourth industrial Revolution are business and personal stressors on a grand scale. A new book explores how managers can help teams through chronic stress

The post Business leaders must be the agents of change appeared first on The Mail & Guardian.

The gas cooker South Africa has been waiting for

January 27th 2021 at 07:10

Samsung’s new 5 Gas Burner Stainless Steel Cooker introduces timeous innovation and design, and it won't go off in a blackout

The post The gas cooker South Africa has been waiting for appeared first on The Mail & Guardian.

🏆 Best Forex Brokers in South Africa

Fresh Unique Article to increase your trading knowledge: 🏆 Best Forex Brokers in South Africa

Best forex brokers in South Africa

According to our latest research in South Africa (2021), when traders choose which market or forex broker to trade with, they are looking for optimal trading conditions, the lowest minimum deposit, tight spreads, and of course the best chance of making a decent profit.🚀 South Africa is officially Africa’s fastest-growing forex trading community in our latest research.

Drumroll…for our latest broker research and testing we did in May 2021. Making your choice for your ideal licensed ( regulated ) broker super easy and transparent.

 

🏆10 Best Forex Brokers in South Africa for 2021

 

1.🥇 Avatrade: Best Overall Forex Broker and Best for Range of Trade Offerings in South Africa

2.🏅 CMTrading: Largest broker in South Africa for CFD’s, commodities, indices, stocks, and more.

3. 🥉 FBS: Best ECN forex broker for intermediate traders in SA.

4. Blackstone Futures: Lowest Spreads in South Africa

5. Tickmill: Best Forex Broker for Low Spreads and costs.

6. BDSWISS: Top Forex Broker for Beginner Traders.

7. Axi: Best Forex Broker for UX Experience and Fast Executions.

8. FP Markets – SA’s favorite forex trading brand.

9. Instaforex – Super tight spread broker. 

10. Axiory – High Leverage Forex Broker in South Africa.

 

Choose from low minimum deposit to high leverage forex brokers.

10 Best Forex Brokers in South Africa for 2021

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

 4.9/5

$100

#2

 4.7/5

$100

#3

 4.7/5

$1

#4

 4.7/5

$70

#5

 4.8/5

$100

#6

 4.7/5

$100

#7

 4.7/5

$200

#8

 4.7/5

$100

#9

 4.7/5

$1

#10

 4.7/5

$50

#1

4.8/5

User Score

#2

cmtrading

4.4/5

User Score

#3

4.5/5

User Score

#4

4.3/5

User Score

#5

A review about Tickmill

4.4/5

User Score

#6

4.6/5

User Score

#7

4.3/5

User Score

#8

4.8/5

User Score

#9

4.4/5

User Score

#10

4.7/5

User Score

Our professional team of ex-full-time forex traders has compiled the best of the best list of regulated forex brokers in South Africa.

Read the full reviews on each broker below to see who are regulated with the FSCA (Financial Sector Conduct Authority)

This is the ONLY forex broker guide you need if you are a South African.

 

Foreign exchange or better known by its abbreviations Forex (or FX for short) is the marketplace for trading all the world’s currencies and is the largest financial market in the world.

Forex has become the fastest growing and most popular type of trading for people who trade for themselves for a host of reasons with the basis being:  optimal trading conditions and the best chance of making profits.

🇿🇦 Amount of current traders in South Africa550 000+ ( Updated 2021 )
🗺️ Government Regulatory Body in South AfricaFSCA ( Financial Services Conduct Authority ) formerly known as the FSB ( Financial Services Board )
📍 FSCA Physical Address and DetailsAddress: 41 Matroosberg Rd, Ashlea Gardens, Pretoria, 0002
Phone: 012 428 8000
Website: https://www.fsca.co.za
Email: info@fsca.co.za
📢 FSCA Official Twitter PageFSCA on Twitter
📉Most Traded Currency*USD / EUR - USD / GBP
⚖️ Is Trading Legal in South Africa?Yes
💰 Do you get taxed on forex trading profits?Yes
🌎Who is the number #1 Forex Broker offering ZAR denominated accounts?Blackstone Futures
🕒 Best time to trade in South Africa?9am - 12pm UTC+02:00
🏆Top FSCA Regulated Forex BrokersExness, Avatrade, IFX Brokers, Blackstone Futures, CM trading.
💳 How much money do you need to successfully get started trading forex in South Africa?R1500 or $100
📈 Fastest Growing Broker in South Africa*Exness

It is important to note that this list is not on a ranking basis but a comprehensive list of the BEST Forex Brokers and Trading Platforms in South Africa geared for persons trading for themselves, especially beginner Forex traders. We have taken out the guesswork for you.

Let’s go through the top 31 forex trading brokers and companies you can trust.

We leave it to you to make our decision based on their pros and cons. Let’s get started… get scrolling.

PS: this list gets updated monthly.

No Deposit Forex BrokersFREE Welcome Bonus AmountClaim Bonus Here
🥇Just Forex 120% Sign Up Bonus !!!🔥Claim Bonus Here
📢 Tickmill10% Deposit Reward 🔥 Claim Bonus Now
🥉FBS$100 Bonus🔥Claim Bonus Here
📢 ForexTime$10 Bonus 🔥Claim Bonus Now
📢 CM Trading Africa's Favorite Broker🔥Claim Bonus Here
📢 XM$30 Bonus🔥Claim Bonus Now
📢 RoboForex$30 Bonus🔥Claim Bonus Now
📢 Markets.comUp to 35% Bonus Deposit🔥Claim Bonus Now
📢 ExnessFastest Growing Broker in SA*🔥Open An Account
🥈 AM Broker$200 Bonus🔥Claim Bonus Here

🚀 Learn how to trade Forex. Download our free e-book

Here is a COMPLETE list of the Best 31 Forex brokers Operating within South Africa.

avatrade forex broker

Avatrade

AvaTrade is one of the most respected, oldest, and largest online brokerages in the world. The company has won numerous awards for “Best Customer Support”, “Best Alert System”, “Best Financial Derivative Trading Provider”, and “Best Forex Broker YEAR” 2020.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Easy and Fast account opening🔴 Research tools are a little outdated
✔️ Free deposit and withdrawal options🔴 Poor phone support
✔️ Educational tools are good🔴 Inactivity fee

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $100
✔️ Deposit & Withdrawal Fees🟣 $0
✔️ Inactivity Fee🟣 $0
✔️ Account Fee🟣 Yes - $50 per quarter after 3 months
of inactivity.
An annual administration fee
of $100 applies after 12 straight
months of non-use
✔️ Average spread EUR/USD – active🟣 0.62
✔️Average spread EUR/USD – standard🟣 0.92
✔️ VIP or active trader discounts🟣 Yes
✔️ Commissions🟣 No - Compensated
through bid-ask spread

 

cmtrading

CM Trading

CM Trading is one of the world’s most innovative Forex brokers and the largest broker in South Africa. As an online Forex broker, CMTrading specializes in Forex, Index, and Commodity trading. From new to more experienced traders, CMTrading provides state-of-the-art Award-winning trading platforms as well as supreme liquidity.

Traders can invest with confidence in a highly safe and regulated environment which enables traders to use Forex, Index, and Commodities, including Cryptocurrencies, through a seamless, technology-driven process.

open a forex account

Overall Pros and Cons

✔️Pros🔴 Cons
✔️ Segregated client funds🔴 Limited range of instruments
✔️ Established in 2011 🔴 Not FCA regulated
✔️ Min. deposit from $100

 

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $250
✔️ Deposit & Withdrawal Fees$0
✔️ Inactivity Fee🟣 $15 after 3 month's of inactivity
✔️ GBP/USD Spread🟣 2.6
✔️ EUR/USD Spread🟣 1.5
✔️ EUR/GBP Spread🟣 2.6
✔️ Commissions🟣 No

A review about FBS
 

FBS

FBS offers traders a choice of four accounts and all accounts offer market execution and the chance to trade in micro-lots in Cent accounts for more precise risk management.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ MT4 and MT5 integration🔴 Fewer account and trading options in the EU
✔️ Ultra-low minimum deposits🔴 Commissions payable on many trade types at the global firm
✔️ Competitive zero-pip spreads
✔️ Range of promotions & deposit bonuses

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $250
✔️ Inactivity Fee🟣 No, account disabled after 90 days of inactivity.
✔️ Deposit Fee🟣 $0
✔️ Withdrawal Fee🟣 $1
✔️ Account Fee🟣 No
✔️ GBP/USD Spread🟣 1.3 pips
✔️ EUR/USD Spread🟣 0.7 pips
✔️ EUR/GBP Spread🟣 2.7 pips
✔️ Commissions🟣 Yes

Trading Benefits

Account TypeMinimum DepositMinimum Trade SizeMaximum LeverageSpreads & Commissions
📒Cent💲 $1🔹 0.01 lotℹ️ 1:1000💠 From 1 pip
📒Standard💲 $100🔹 0.01 lotℹ️ 1:3000💠 From 0.5 pips
📒Zero Spread💲 $500🔹 0.01 lotℹ️ 1:3000💠 0 pips + $20/lot
📒Micro💲 $5🔹 0.01 lotℹ️ 1:3000💠 Fixed, from 3 pips
📒ECN💲 $1000🔹 0.1 lotℹ️ 1:500💠 From -1 pip + $6/lot

e
FBS is a popular international broker and offers clients competitive trading conditions, a wide range of trading accounts, payment methods, a choice of fixed and variable spreads, MetaTrader 4 and MetaTrader 5, as well as various promotions.  An account with FBS can be opened for just $1.

 

 

A review about Blackstone Futures

Blackstone Futures

Blackstone Futures offers clients the ability to open trading accounts in ZAR, USD and GBP, which can be used on their MetaTrader 4 and CloudTrade platforms. Both trading platforms offer tight ECN like spreads and fast executions. Leverage on MT4 is up to 1:400 on client request. CloudTrade offers a maximum of 1:100. Both Forex and CFD platforms offer commission free trading.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ ECN model used🔴 US clients not accepted
✔️ Low minimum deposit requirement🔴 No Islamic/Swap-free account
✔️ MetaTrader 4
✔️ No commissions charged
✔️ Regulated through FSCA,ASIC,SCB
✔️ Tight spreads offered

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 ZAR 1000
✔️ Inactivity Fee🟣 No
✔️ Deposit & Withdrawal fees🟣 No
✔️ GBP/USD Spread🟣 2.6
✔️ EUR/USD Spread🟣 1.5
✔️ EUR/GBP Spread🟣 2.6
✔️ Commissions🟣 No

Trading Benefits

  
📒 Account Type🔵 Standard
💲 Minimum deposit🔵 ZAR 1000
📈 Trade size🔵 0.01
✋ Maximum leverage🔵 1:400
💰 Spreads & Commissions🔵 From 0.6 pips

Trade at your desktop or on the go with Metatrader 4 mobile/tablet app. CloudTrade is a web-based platform available on desktop and mobile/tablet. Fund your account with a wide variety of payment options. Receive same day withdrawal processing and receive your money when you need it most. Blackstone Futures is an FSCA regulated broker.

Key Features

  
✅ Support📱 24/5
✅ Minimum deposit💲 $1000
✅ Leverageℹ️ 1:400
✅ Trading Instruments📊 Forex, CFDs on Stock Indices, precious metals

A review about Tickmill
 

Tickmill

TickMill offers traders 2 basic account types, accessible through the popular MetaTrader 4 platform and offers market execution with an average speed of 0.3 seconds, variable spreads, leverage up to 1:30, and micro tradeable lots. The Classic account is commission-free and The Pro ECN carries a charge of a small commission fee and gets tighter spreads.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Competitive pricing🔴 Limited platform options
✔️ Well regulated
✔️ High leverage

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit to start trading 🟣 $100
✔️ All deposits starting from $5000 🟣 Zero fees policy
✔️ Inactivity Fee🟣 $0
✔️ Deposit & Withdrawal fee🟣 $0
✔️ Account fee🟣 No
✔️ Classic Account Spreads🟣 From 1.6 pips
✔️ Pro Account Spreads🟣 From 0.0 pips
✔️ VIP Account Spreads🟣 From 0.0 pips
✔️ Commission Classic Account🟣 0
✔️ Commission Pro account🟣 2 units of the base currency per side per lot
✔️Commission VIP Account🟣 1 unit of the base currency per side per lot

Trading Benefits

Account TypeMinimum DepositMinimum Trade SizeMaximum LeverageSpreads & Commissions
📒Classic💲 $100🔹 0.01ℹ️ 1:30💠 From 1.6 pips
📒Pro💲 $100🔹 0.01ℹ️ 1:30💠 0.2 pips + $4 / Lot*

*Commission is calculated per standard lot of 100 000 units round trip.

TickMill supports the MetaTrader4 (MT4) platform, available for Mac/Windows PC, Android & iOS devices and as a web-based version and accepts a wide range of payment methods: via credit/debit cards, (Visa, MasterCard, Maestro), bank wire, Skrill, Neteller, dotpay, and Sofort.

 

Key Features

  
✅Supports📱 Metatrader for desktop, web & mobile
✅Minimum deposit💲 $100
✅Leverageℹ️ 1:500
✅Trading Instruments📊 Forex, CFDs on Stock Indices, precious metals

 

A review about BDSwiss
 

BDSwiss

According to research in South Africa, BDSwiss is a European brokerage firm that was established in 2012, in Switzerland. Today, the company has a reach that spans over 125 countries with a client base of over 1,043,859 registered accounts (as of December 2018).

BDSwiss offers traders the opportunity to trade an array of financial instruments such as currencies, stocks, commodities, indices, and more. In addition, BDSwiss also has a few trading platforms that can be used by traders.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Strictly regulated and authorized by three entities🔴 Not an extensive selection of cryptocurrencies
✔️ Reliable trading conditions🔴 US and Canadian clients not allowed
✔️ A variety of financial instruments that can be traded
✔️ A few trading platforms to choose from

 

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $/€/£ 100
✔️ Inactivity Fee🟣 Yes, when account has been inactive for 90 days
✔️ Deposit & Withdrawal fees🟣 No charge on credit card transactions;
Fixed fee of €10 for withdrawals equal to or less than €20
Fixed fee of €10 for bank wire withdrawals equal to or less than €100
✔️ Overnight fees🟣 Yes, not applicable to Islamic/Swap free accounts.
✔️ Account Fee🟣 Dormant account fees after 6 months of non-use
✔️ GBP/USD Spread🟣 1.7 pips
✔️ EUR/USD Spread🟣 1.2 pips
✔️ EUR/GBP Spread🟣 1.3 pips
✔️ Commissions🟣 Yes, 0.1% charged for stock CFD trades & when a trade
roll over to the next day
DSwiss Mobile Trader.

Trading Benefits

  
📒 Account Types🔵 Raw, Classic & VIP
💲 Minimum deposit🔵 100 $/€/£
📈 Trade size🔵 0.01
✋ Maximum Leverage🔵 1:30 for European clients
1:500 for Global traders
1:40 for US traders
💰 Spreads & Commissions🔵 From 1 pips
📊 Trading Platforms🔵 Metatrader 4, Metatrader 5, BDSwiss Web trader, BDSwiss Mobile Trader

MetaTrader4

This is the leading trading platform in the world and allows traders of all levels of experience to feel comfortable and secure when using it.

MetaTrader4 offers the following features:

  • An interface that is customizable and easy to use
  • Newsfeeds on the platform that are updated frequently
  • Analytical tools that are pre-programmed
  • Ability to overlay analytical studies
  • Various options available for charting and analysis
  • Multi-language features, and more

 

MetaTrader5

While MetaTrader4 is the most popular platform, MetaTrader5 is the most advanced as it contains all the features that MetaTrader4 has, but with an array of added features unique to this platform, such as:

  • More timeframes and charting options than MetaTrader 4
  • Multi-asset trading on more than 250 CFDs
  • The trader has access to their account and history
  • Daily account statements
  • Internal mailing system
  • Automated trading with EAs
  • 100 charts can be displayed simultaneously
  • More than 80 technical indicators along with 40+ analytical objects
  • MQL5 development environment, and more

 

BDSwiss WebTrader

This is BDSwiss’ own in-house trading platform that has been designed specifically for the various needs of a growing client base. This trading platform offers a trading environment that is not only unparalleled but accessible from all browsers along with operating systems.

The BDSwiss WebTrader has the following features to offer:

  • Order window that is intuitive
  • Available in more than 20 different languages
  • The interface is clean and highly user-friendly
  • Trading that is secure and transparent on any device
  • Full synchronization with the BDSwiss application and MetaTrader 4
  • Order execution, which is fast, without re-quotes, and more

 

BDSwiss Mobile App

This mobile app is available for download from both the AppStore and Google Play on mobile devices such as smartphones and tablets. Using the mobile app, traders can have the world of trading in the palm of their hand, at any given time, from anywhere in the world.

The BDSwiss Mobile App has the following features:

  • Quotes in real-time
  • Charts that are interactive
  • An interface that is clean and user-friendly
  • Full history on both trading and transactions
  • The ability to deposit and withdraw funds
  • Account set up along with KYC Verification
  • Trading of Cryptocurrency pairs 24 hours of the day, 7 days a week

 

Key Features

BDSwiss offers educational tools based on three levels of trader experience:

  • Beginner
  • Intermediate
  • Advanced

 

Beginner traders have access to tools such as beginner video courses, educational material such as:

  • Forex Glossary
  • Forex Basic Lessons
  • Educational Series Webinars
  • 1 on 1 VIP Sessions (Only available to Black VIP account holders)
  • Market News and articles
  • Seminars (Only available to Black VIP account holders)

 

Intermediate and Advanced traders have the same access to basic educational tools, the only difference between the levels is the video courses that are designed specifically for the needs of very type of level and should be used accordingly and in order.

 

A review about Axi

Axi

According to research in South Africa, BDSwiss is a European brokerage firm that was established in 2012, in Switzerland. Today, the company has a reach that spans over 125 countries with a client base of over 1,043,859 registered accounts (as of December 2018).

BDSwiss offers traders the opportunity to trade an array of financial instruments such as currencies, stocks, commodities, indices, and more. In addition, BDSwiss also has a few trading platforms that can be used by traders.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Fully regulated and authorized🔴 Only offers trading in Forex and CFDs
✔️ Low trading fees🔴 Limited research tools
✔️ No inactivity fee🔴 Withdrawals can only be made to a bank account or Neteller
✔️ No deposit or withdrawal fees
✔️ Fully digitalized account opening
✔️ Trusted and award winning broker with a substantial track record

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 0 $/€/£
✔️ Inactivity Fee🟣 No, but beware of of Swap-fees or rollover fees
✔️ Deposit & Withdrawal fees🟣 No
✔️ Overnight fees🟣 Yes, not applicable to Islamic/Swap free accounts.
✔️ Account Fee🟣 MT4 Standard Account - no fees
MT4 Pro Account - fees built into spread
✔️ GBP/USD Spread🟣 0.1 - 0.3 pips (Floating)

0.1 - 0.3 pips (Floating)
✔️ EUR/USD Spread🟣 0 - 0.2 pips (Floating)
✔️ EUR/GBP Spread🟣 0.1 - 0.3 pips (Floating)
✔️ Commissions🟣 Standard Account - 0 fees
Pro Account - USD$3.50 per lot ($7 round trip)

Trading Benefits

Axi makes use of one of the most popular and more widely used platforms in the trading community, which is MetaTrader 4. MetaTrader 4 caters for both beginner traders and traders who are at a more professional level.

Using MetaTrader 4 in conjunction with an Axi account provides the following benefits and features:

 

  • One-time sign in and access to the MT4 account from anywhere
  • Available on mobile devices using Android and iOS, PC and Web as well as Mac
  • Access to more than 150 trading products
  • Spreads from 0.0 pips
  • Access on any device at any given time
  • Multi-account management
  • Order execution at fast speeds
  • Option of using third party plugins

MetaTrader 4 supports the following third-party plugins:

 

  • NexGen – available free of charge to traders who open a live account with a minimum deposit of $1000
  • Sentiment indicators
  • Correlation trader
  • Alarm manager, and more
  • Myfxbook AutoTrade
  • Duplitrade
  • Tradency
  • Zulutrade

Using the MetaTrader 4 platform with an Axi account also allows traders access to Expert Advisors (EAs) with the added benefit of being able to share strategies with others.

Traders can also improve their strategies by using AutoChartist which is free of use to Axi clients along with use of PsyQuotation in addition to that.

 

Key Features

Axi offers a vast variety of educational tools starting from the demo account, which is available, to get beginner traders used to a trading environment by using virtual money and by having access to the same functionality available to the live accounts.

The website also makes provision for basics in both Forex and CFD Trading to get beginners started.

 

Axi has a dedicated Educational Centre which features a variety of videos covering topics such as:

 

  • Forex Trading
  • Market Analysis
  • Trading Psychology
  • Trading Strategies
  • Stocks, and several others

 

A review of FP Markets

FP Markets

FP Markets is an Australian broker that was established in 2005 and offers traders access to contract for difference (CFD) trading across forex, indices, commodities, stocks and cryptocurrencies on consistently tighter spreads in supreme trading conditions.

FP Markets is globally trusted as a CFD and Forex broker where traders can access a full suite of trading products and conveniently trade from a single account.

FP Markets understands what traders need and has learnt that the combination of pricing, execution speed, cutting-edge platforms, product range, customer support and market analysis are the key to giving clients trading confidence.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Forex fees are low🔴 Stock CFD fees are high
✔️ Accounts can be opened fast and easy🔴 Product portfolio are somewhat limited
✔️ Deposit and withdrawal processes are quickly executed🔴 Web and desktop platform is somewhat outdated
✔️ Segregated accounts and annual reports
✔️ Clients are assured about the services of a broker that complies with the most stringent regulations for investor protection.
✔️ FP Markets offers consistently tighter spreads from 0.0 pips
✔️ There is no price manipulation, no dealing desk, and no re-quotes.
✔️ Offering 24/5 Multi-lingual support

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $100
✔️ Inactivity Fee🟣 No
✔️ Deposit fees🟣 No
✔️ Withdrawal fees🟣 A$10 for international bank wire
$18 for Online Pay
1,000 VND + 1% for Ngan Luong
A$25 for international broker to broker transfers
Neteller - 2%
Skrill - 1%
FasaPay - 0.5%
PayTrust - 1.5%
Paypal - 2% (if using IRESS)
✔️ Overnight fees🟣 Yes, swap rates
✔️ GBP/USD Spread🟣 0.49 pips

✔️ EUR/USD Spread🟣 0.09 pips
✔️ EUR/GBP Spread🟣 0.61 pips
✔️ Commissions🟣 1-25K - 0.10% with a $10 minimum
25K - 50K - 0.09% with a $9 minimum
50K plus - 0.08% - with no minimum
This applies for all ASX trading
✔️ Other fees🟣 $55 p.m. subscription fee for IRESS Trader/Viewpoint

Trading Benefits

FP Markets has the technology to ensure up-to-date platforms and market integration systems for clients.

There are different platforms to choose from: MT4 and MT5 platforms, IRESS platform, WebTrader platform, Traders Edge Tools, Affiliate portal, IB portal, MAM/PAMM accounts and Advanced Client portal.

 

MetaTrader4

The Metatrader 4 (MT4) platform offers a customisable interface, one-click trading, MarketWatch, live price streaming on live and demo and accounts128-bit encryption for secure trading, multiple charts and is compatible with iOS, Android and Mac devices.

 MT4 and MT5 Online Webtrader offers ease of trading, a complete suite of trading tools and operations, one-click trading, multiple order types and execution modes, real-time price quotes, data synchronisation, and 24/5 online support in multiple languages.

 

Iress ViewPoint

The Iress ViewPoint has advanced functionalities to improve the trading experience with enhanced trading tools and better compatibility with different internet browsers.

Iress Suite is compatible with the latest browser versions and allows an automatic data sync between Iress Trader and Iress ViewPoint.

 

Key Features

MAM/PAMM

FP Markets’ forex offering is flexible with both Multi Account Manager (MAM) and Percent Allocation Management Model (PAMM) allocations available. Both provide managers the tight control they need to maximize returns.

As one of the leading MAM/PAMM account brokers FP Markets’ software is perfect for traders or money managers using Expert Advisors (EAs). Order management monitoring for MAMs and PAMMs also aids transparency and provides more appeal to investors.

Other benefits include:

  • Lot, percentage and equity allocation options
  • Unlimited trading accounts and deposit levels
  • Live order management within MAM
  • Real-time performance and commissions reports
  • Ultra-fast trade allocation
  • Support for all trading styles
  • Expert Advisors (EAs) for all clients
  • Full stop-loss, take-profit and pending orders

 

A review about Instaforex

InstaForex

InstaForex is a Russian-based company that has been in operation since 2007. It serves over 260 representative offices around the globe and has a team with vast experience in the sphere pertaining to client and partner support.

The trading conditions that InstaForex provide are based on, and in correlation with, basic trends present in the brokerage industry. InstaForex provides access to a range of services and provides clients access to the PAMM system.

In addition to providing access to an array of trading instruments, InstaForex also provides deposit bonusses which range from 30 – 100% along with contests on a frequent basis consisting of an annual prize pool of over $500,000.

InstaForex is one of the very first brokers to allow for trade in Bitcoin and CFDs through social media platforms such as Facebook and Twitter. In addition, InstaForex also provides great technical solutions and the best trading conditions.

InstaForex also has a global presence in worldwide sponsorships and social events, along with it being partnered with sports entities and events such as Liverpool Football Club, Dragon Racing, and several others.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️CySEC authorized and regulated🔴US clients not allowed
✔️Caters for offshore clients
✔️Client funds kept in segregated accounts
✔️Floating leverage of up to 1:1000
✔️Floating spreads
✔️No required minimum deposit
✔️Accounts that cater for both beginners and professionals
✔️Variety of trading platforms

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 €1 to €1000 (Account choice dependent)
✔️ Inactivity Fee🟣 $10 per month
✔️ Deposit & Withdrawal fees🟣 No
✔️ GBP/USD Spread🟣 Av. Floating 0.8

✔️ EUR/USD Spread🟣 Av. Floating 0.8
✔️ EUR/GBP Spread🟣 Av. Floating 0.8
✔️ Commissions🟣 Yes, Affiliate commission

Insta.Standard Trading Account

This account provides standard trading terms on the Forex market without there being any fees involved. Once this account has been opened, the trader gains access to all the trading instruments InstaForex offers and the trader pays a fixed spread when setting a trade.

This type of account caters for traders with differing levels of experience, from beginners to those who are more advanced.

One of the main benefits and attractions of this account is its universality which allows traders to change the trading leverage (floating leverage) and determine a deposit size which will suit them better.

The Insta.Standard Account also allows for the trading of:

  • Micro Forex with a minimum deposit of $1-10
  • Mini Forex with a minimum deposit of $100, and
  • Standard Forex with a minimum deposit of $1000

 

Insta.Eurica Trading Account

The trader who holds this type of account will not be required to pay any spread when opening a trade. Zero spreads are applied for most of the trading instruments and this is always due to the Bid price being equal to the Ask price.

In such a case where the price is higher than the Bid price by half of the spread, which is applicable for a certain instrument, it is then rounded up to its integral value.

This account caters specifically for traders who are just starting out and who are still learning to trade. This is because it does not take into consideration the spread in the case of using pending orders.

Even though this account is perfect for beginner traders to get used to a simpler system of trades, it also features characteristics that may be useful to more advanced traders as they are like that of the Insta.Standard Account.

 

Cent.Standard and Cent.Eurica Trading Accounts

Both these account types were specifically designed with beginner traders in mind by allowing them access to the minimal possible trade volume. These accounts have the following features:

  • Micro Forex available with a lot volume of 0.0001 of the market lot
  • Allows practice in trade without the risks for deposit
  • Can be used for traders who would like to test their strategies as there are minimal risks involved
  • Same trading terms as Insta.Standard and Insta.Eurica accounts

The only disadvantage with these accounts is the maximum allowed deposit size. This relates to their directivity to beginning traders especially.

InstaForex also provides investors and traders the opportunity to invest in Forex projects by using a PAMM forex system.

This system can be used by both traders and investors to invest in forex with the sole purpose of taking a part of the profit which is made.

InstaForex also offers traders the option to open a demo account. This feature is especially helpful to beginner traders, allowing them to get hands-on experience in trading in a risk free environment by using virtual funds.

 

Trading Benefits

InstaForex offers traders the ability to trade in the following instruments:

  • Forex
  • CFDs including metals and shares
  • Futures and Indices CFD
  • Cryptocurrencies

 

Forex

The trading of Forex along with the trading conditions involved depends on the type of account that the trader uses as each is set up differently providing different spreads and fees depending on the account and the currency pair being traded.

Traders can trade more than 107 currency pairs when holding an account with InstaForex.

 

CFDs including metals and shares

Metals that can be traded include Spot Gold and Silver along with Gold Spot (500 oz). Each of these has their own lot size and spread and there are no fees involved with trading these instruments.

With regards to shares, InstaForex offers trades in shares from some of the most popular companies in the world such as Apple Inc., Adobe, Bank of America, and more.

When trading shares with InstaForex, traders need to take note that the lot size on each share is 100 stocks and although the spread varies between the shares, there is a standard 0.1% fee along with the Buy being -5% and sell -2.5%.

 

Futures and Indices CFD

When trading this instrument with InstaForex, traders have access to the following:

  • Platinum
  • Palladium
  • Futures Copper, Gold, Silver
  • Crude Oil
  • Natural Gas
  • Brent Crude Oil, and more

When trading futures and indices, traders need to take note that each has its own tick size and cost, along with margin and specific times in which these instruments can be traded along with a set expiration date.

The set commission fee per trade on these instruments is $30.

 

Cryptocurrencies

When trading Crypto, traders have access to the following instruments:

  • Bitcoin Cash
  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple

The fees on all of these is set at 0.1% but the spread varies between the instruments starting at 50 and going as high as 12000.

 

Key Features

MetaTrader4

MetaTrader4 is one of the most popular trading platforms in use within the trading community and comes packed with an array of features such as:

  • A choice between 9 different timeframes
  • A variety of tools which can be used with technical analysis
  • Market news pertaining to financials
  • Automated trading
  • Positions can be locked
  • Access to free indicators and access to EAs
  • Ability to create indicators and EAs by using MQL4, and more

Both MetaTrader4 and 5 are compatible with mobile devices and tablets that run Android and iOS software, and laptops along with desktops that run Windows

 

MetaTrader5

This is the new and improved version built from MetaTrader4, which still has a lot of the same functions and features, but also has new features such as:

  • A choice of 21 timeframes
  • Depth of market along with contract specifications
  • MQL5
  • Quotes are archived automatically
  • More advanced set of technical tools
  • Access to fill policy, and more

 

Multiterminal

With this platform, traders can work with not just one, but several InstaForex trading accounts all at once. This handy tool works especially well with account management, where traders need to manage the accounts of their clients.

This trading platform can be installed on a PC that has Windows as the operating system.

 

InstaForex WebTrader

This trading platform was designed by InstaForex and is only available to its own clients. By using this platform, trades directly in the web browser are made available and thus there is no need for downloads and/or extra applications.

The features of this trading platform include:

  • Three interface layouts including classic, dashboard and charts
  • Charts are not only convenient but also uncluttered and come with an array of analytical tools
  • Access to tick charts and a stream of orders
  • All the trading instruments are available
  • Trading platform is suitable for all InstaForex accounts, and many others

 

InstaTick Trader Platform

This is another innovation by InstaForex which is designed to make tick trades. The features of this platform include:

  • 6-digit quotes
  • The platform can be accessed from a web browser and thus there are no downloads necessary
  • Interface which is simplified and thus user-friendly
  • This platform can be used with any of the Instaforex accounts
  • Enables traders to boost profits, and more

 

A review about Axiory
 

AXIORY

AXIORY is a financial brokerage established in 2011 and located in Belize where it is regulated by IFSC. AXIORY is an STP broker and offers popular trading instruments and assets through MT4 and cTrader platforms. AXIORY operates as a group of companies from headquarters in Belize with a representative office in Dubai, which brought access to both EEA clients and Middle East.

Traders at AXIORY are connected to the best possible liquidity providers and all trades go directly to market. AXIORY’s Multi Account Manager (MAM) software offers money managers a selection of allocation methods for their managed accounts and the MyAXIORY online platform for comfortable account overviews, provide professionals with opportunities to use personalisation.

AXIORY Europe is a brokerage and asset management company that provides ECN / STP direct interbank access trading accounts. It is regulated by CySec.

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Corporate and management possibilities🔴 No bonuses or promotions
✔️ Demo account🔴 Regulated by Belize IFSC only
✔️ Suitable for beginners and professionals🔴 No product descriptions
✔️ Segregated accounts and annual reports🔴 No multi-currency accounts

 

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $50
✔️ Inactivity Fee🟣 No
✔️ Deposit & Withdrawal fees🟣 No
✔️ Account Fee🟣 No
✔️ GBP/USD Spread🟣 0.5 pips

✔️ EUR/USD Spread🟣 0.2 pips
✔️ EUR/GBP Spread🟣 0.7 pips
✔️ Commissions🟣 Nano account - 6USD/lot;
Standard - Nil
Max - Nil

Trading Benefits

The forex trading platform provided by AXIORY to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

AXIORY provides:

MyAXIORY

MyAXIORY is an online interface that allows traders to see and manage their accounts. MyAXIORY is optimized for PC’s and Tablets and offers account analysis.

MetaTrader 4

AXIORY Standard, Nano and MAX accounts can be used together with MetaTrader 4 (MT4) trading platform. Traders can get MT4 for PC, Mac (Mojave or Older OS) and iOS/Android devices.

cTrader

This trading platform offers a modern graphic interface and regular updates and is accessible through a web interface. You can get cTrader for PC and iOS/ Android mobile devices.

 

Key Features

Forex

Forex trading describes the currency exchange market which refers to the global, decentralised marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.

Commodities

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices

Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.

AXIORY offers the following of the above:

Currencies: (60+ pairs)

 

 

marketscom_logo
 

Markets.com

 

Markets.com is an online broker founded in 2008 and offers Forex and CFDs. Markets.com is a global broker with a head office situated in Cyprus. New traders will need to make a minimum deposit of $250 and a demo account is available for those who want to try before they ‘buy’ in.
Traders can trade in a wide variety of instruments and currency pairs

  • Over 100 instruments
  • Over 80 currency pairs

Markets.com offers both of the MetaTrader platforms; MT4 and MT5. plus, mobile apps for Android and iOS.

open a forex account

 

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Free and fast withdrawal and deposit🔴 Trading fees are high
✔️ Easy and fast account opening
✔️ Great research and learning tools
✔️ Regulated under FSCA, FCA, ASIC, CySEC and FSC
✔️ 24/5 Customer support

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $250
✔️ Inactivity Fee🟣 $10 p.m. after 3
months of inactivity
✔️ Deposit & Withdrawal fee🟣 $0
✔️ Account Fee🟣 No
✔️ GBP/USD Spread🟣 2 pips
✔️ EUR/USD Spread🟣 2 pips
✔️ EUR/GBP Spread🟣 2 pips
✔️ Commissions🟣 No

Key Features

  
✅Spreads📊 Tight spreads, with EUR/USD from 0.5, and speedy execution
✅Trading Instruments📊 You can trade and invest over 8,000 instruments on their multi-asset platform
✅Trading Accounts📒 Demo account, Mini account, Standard account & Islamic account
✅Research⚙️ Range of sentiment, fundamental and technical analysis tools
✅Regulation🏛️ Regulated under FSCA, FCA, ASIC, CySEC and FSC
✅Customer Support⌚ 24/5
✅Languages Available💬 Arabic, Chinese, Dutch, English, French,
German, Italian, Japanese, Norwegian
Polish, Romanian, Russian, Spanish, and Turkish.

Trading Benefits

  
󠀿 ❔ Allows scalping✔️ Yes
❔ Allows Hedging✔️ Yes
❔ Low Minimum Deposit✔️ Yes
❔ Guaranteed Stop Loss✔️ Yes
❔ Negative Balance Protection✔️ Yes

 

A review of Exness
 

EXNESS

Exness was founded in 2008 and since then the brokers has undergone significant developments. Exness accepts traders from South Africa, in fact it is one of the the fastest-growing ZAR Account brokers in the country. Exness is also the inner of the prestigous SA Shares award for the fastest growing broker on the African continent. The Exness brand is represented by three different corporate entities. (Headquarter in Cyprus, Seychelles & United Kingom)

open a forex account

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Regulated by both CySEC and FCA🔴 No multi-currency accounts available
✔️ Client funds kept in segregated accounts
✔️ Dealing-Desk Broker
✔️ Tight spreads
✔️ 130+ Currency Pairs with Multiple Trading Platforms

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $1
✔️ Inactivity Fee🟣 No
✔️ Deposit & Withdrawal fee🟣 $0
✔️ Account Fee🟣 No
✔️ GBP/USD Spread🟣 1.4 pips
✔️ EUR/USD Spread🟣 1.3 pips
✔️ EUR/GBP Spread🟣 2.1 pips
✔️ Commissions🟣 $0 on Standard & Pro Account;
Up to $3.5 on Raw Account;
From $3.5 on Zero Account

Key Features

  
✅ Regulator🗺️ FSA Seychelles
✅ Minimum Deposit💲 $1
✅ Leverage🔹 Up to 1:2000
✅ Average Spread🔸 0 (Zero and Raw spread) 0.3 – Standard
✅ Platforms📊 MT4, MT5, Web, Mobile

Trading Benefits

  
📊 SpreadsSuper tight spreads
🏦Withdrawal and Deposit MethodsInstant automated Withdrawals and deposits 24/7
Multiple withdraw and deposit methods
Accepts Mobile Money deposits and withdrawals
➖Negative Balance ProtectionYes
📊 Regulated BrokerCyprus Securities and Exchange Commission (CySEC)

🚀 Learn how to trade Forex. Download our free e-book

 

 

 

 

FXTM Review - forex broker
open a forex account

FXTM

FXTM is a well-regarded broker with a strong focus on educating new traders.  There is a good foundation of educational material at FXTM for beginners but maybe a bit lacking in material for the more advanced trader.

By keeping the focus on beginners looking for reasonable trading conditions, FXTM has created a welcoming and user-friendly environment for new traders.

Additionally, known for strong customer support it is one of the few brokers with 24/7 support, allowing traders to get set up on weekends or holidays.

For the absolute beginner, FXTM has a great deal of training material to help new traders get started. For the more advanced trader, there is an additional set of videos that cover analysis topics, and more detail on chart reading techniques.

 

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Great customer Service🔴 High withdrawal fees
✔️Easy sign up process🔴 Inactivity penalties
✔️Great training materials for beginners🔴 Limited product range.

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $5-$100
✔️ Average spread EUR/USD – active 🟣 0.8
✔️Average spread EUR/USD – standard 🟣 1.6
✔️VIP or active trader discounts🟣 No

XM.com Review

open a forex account

XM

XM Group is considered to be one of the brokers in the market with the most extensive experience and in-depth knowledge of the global financial market.  XM Group is a good broker and for beginners, there are vast quantities of educational material, market analysis, webinars, and seminars held around the world.

XM is also known to offer the best Forex platforms and mobile trading.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Easy setup process🔴 Limited product portfolio
✔️ Great educational tools for beginners🔴 Inactivity Fee
✔️ Opening account is fast and digital
✔️ Great bonus system
✔️ Competitive spread

Fees & Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $5-$100
✔️ Average spread EUR/USD – active 🟣 0.8
✔️Average spread EUR/USD – standard 🟣 1.6
✔️VIP or active trader discounts🟣 No

Alpari Review

Alpari

Alpari Financial Services Ltd (Alpari) is one of the world’s leading independent forex broker that provides online trading services on the international currency market.

There are a few things that make Alpari attractive and unique to both beginner traders and experienced traders alike.

As a beginner, you’ll be able to enjoy access to a free demo account, a micro account, and social trading.

If you’re an experienced trader, not only can you enjoy ECN trading, but you can also make some extra cash by becoming a Strategy Manager. As a Strategy Manager, other traders can copy your trades, and you make a percentage of their earnings

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Alpari also offers a variety of account types, advantageous trading conditions, and quality customer service that makes this a good choice for all types of traders.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Good product portfolio🔴 Education and research tools can be improved
✔️ Best Broker for copy trading accounts
✔️ Strategy Manager Role
✔️ Demo accounts and social trading available for the beginner trader

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $1000
✔️ Average spread EUR/USD – active 🟣 N/A
✔️Average spread EUR/USD – standard 🟣 0.28
✔️VIP or active trader discounts🟣 Yes

 

GO Markets Review

GO Markets

GO Markets is a solid broker with lots of features. Go Markets probably fits all kinds of traders whether you are a beginner or experienced trader. The broker provides analytics and offers great educational tools.GO Markets offers very low Forex fees. You can be up and running very quickly as both account opening and depositing is super easy and fast. Additionally, you’ll get many high-quality educational tools ranging from a demo account to an e-book overall, GO Markets is an incredibly strong Forex and CFD broker for traders. Great customer service and good spreads make it an attractive option. GO Markets is a broker that is well worth considering, especially if you are a Forex trader

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Low minimum deposit🔴 Penalties for inactivity
✔️ Very fast execution of trades
✔️ Good trading analysis tools on offer
✔️ Demo option available

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $200
✔️ Average spread EUR/USD – active 🟣 n/a
✔️Average spread EUR/USD – standard 🟣 1.2
✔️VIP or active trader discounts🟣 n/a

IG Group Review

IG

IG is one of the most regulated and trusted platforms globally and offers traders an extensive list of tradeable products, excellent research and trading tools, as well as industry-leading educational support, and competitive rates. This platform’s great all-around experience makes IG one of the best overall brokers in the market today.IG is one of the few platforms that serve traders of all experience levels, whether beginner or an experienced trader.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️Amazing web platform🔴 Narrow product scope
✔️ Good educational tools🔴 Phone support needs to be improved
✔️ Low trading fees

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $250
✔️ Average spread EUR/USD – active 🟣 0.36
✔️Average spread EUR/USD – standard 🟣 0.7
✔️VIP or active trader discounts🟣 Yes

Plus500 Review

Plus 500

Plus500 CFD platform is suitable for experienced traders only. Though Plus500 is a very user-friendly platform, CFDs are “complex financial products”, thus the platform is not suitable for beginners/ un-experienced traders. Less is sometimes more when first starting out in the oftentimes overly complex world of Forex trading. As is often the case with all platforms, Plus500’s pro can also be its con.  Plus500 lacks depth when it comes to trading tools and research as well as comprehensive educational resources for more experienced or growing traders. However, Plus500’s easy to use the platform, excellent for CFD traders. Plus500 platform is suitable for experienced traders only.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Great user experience🔴 Research tools need improving
✔️ Vast educational tools🔴 WhatsApp support needs streamlining
✔️ 24/7 support on web and email

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum initial deposit 🟣 $/€/£ 100
✔️ Inactivity Fee🟣 Yes, when account has been inactive for 90 days
✔️ Deposit & Withdrawal fees🟣 No charge on credit card transactions;
Fixed fee of €10 for withdrawals equal to or less than €20
Fixed fee of €10 for bank wire withdrawals equal to or less than €100
✔️ Overnight fees🟣 Yes, not applicable to Islamic/Swap free accounts.
✔️ Account Fee🟣 Dormant account fees after 6 months of non-use
✔️ GBP/USD Spread🟣 1.7 pips
✔️ EUR/USD Spread🟣 1.2 pips
✔️ EUR/GBP Spread🟣 1.3 pips
✔️ Commissions🟣 Yes, 0.1% charged for stock CFD trades & when a trade
roll over to the next day

Easy Markets

EasyMarkets is an easy to use and intuitive platform for beginners because of the unique features it offers in its proprietary trading platform. EasyMarkets is pricey, however, offers only a small selection of tradeable products, and lacks market research. 

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️Commission free🔴 Trading accounts need more options
✔️ Forex and trading carry low fees🔴

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $100
✔️ Average spread EUR/USD – active 🟣 0.9
✔️Average spread EUR/USD – standard 🟣 0.9
✔️VIP or active trader discounts🟣 Yes

Saxo Bank Review

Saxo Bank

Saxo Bank is a trusted name in Forex trading with a long track record, banking background, and is regulated by top-tier financial authorities. Saxo Bank’s proprietary trading platforms SaxoTraderGO (web) and SaxoTraderPRO (desktop) set the industry benchmarks, thanks to their streamlined designs and robust trading tools. For traders that can afford the high minimum deposit, Saxo Bank provides a complete package worth being a customer for, under a global brand that traders can trust.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️Platforms work well🔴 Minimum deposit is off-putting
✔️ Research tools are good🔴 24/7 support not offered
✔️Variety of products on offer

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $10 000
✔️ Average spread EUR/USD – active 🟣 0.6
✔️Average spread EUR/USD – standard 🟣 0.6
✔️VIP or active trader discounts🟣 Yes

eToro Review

eToro

eToro is a winner for its easy-to-use copy-trading platform.  The main downside of eToro is its high pricing; otherwise, eToro delivers.  eToro offers Forex and CFD traders a wide variety of investment options.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Easy setup process🔴 Forex fees are high
✔️ Enjoyable trading experience🔴 Withdrawals have long lead times

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $200
✔️ Average spread EUR/USD – active 🟣 N/A
✔️Average spread EUR/USD – standard 🟣 3
✔️VIP or active trader discounts🟣 Yes

CMC Markets Review

CMC Markets

CMC Markets offers an excellent fit for new traders with its great educational resources. CMC Markets is also a great choice for Forex and CFD traders with its Next Generation trading platform. The CMC Markets Next Generation platform delivers terrific tools, comprehensive market research, an excellent mobile app, and a wide selection of nearly 10,000 tradeable instruments.

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Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Wide variety of products 🔴 Some delays when withdrawing
✔️ Trading platforms are good 🔴 Support responses via phone is slow
✔️ Educational tools are informative

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $0
✔️ Average spread EUR/USD – active 🟣 0.81
✔️Average spread EUR/USD – standard 🟣 0.81
✔️VIP or active trader discounts🟣 Yes

OANDA Review

Oanda

Oanda Developed within academia, Oanda has grown and built a reputation for being a trustworthy exchange and the most trusted retail Forex platform. Oanda offers a great and easy-to-use web trading platform, and a quick and user-friendly account opening process with no minimum deposit.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Low trading fees🔴 Withdrawal fees are high
✔️ Easy start-up process🔴 Support call resolution could be faster with relevant answers
✔️ Decent web platform

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $0
✔️ Average spread EUR/USD – active 🟣 1.4
✔️ Average spread EUR/USD – standard 🟣 1.4
✔️ VIP or active trader discounts 🟣 Yes

Pepperstone Review

Pepperstone

Pepperstone provides Forex and CFD traders with competitive pricing, excellent customer service, and one of the largest selections of third-party platforms, including numerous options for social copy trading although its offering is a small set of tradeable products. While Pepperstone lacks a proprietary platform, it offers nearly every third-party platform a trader could ever want to use.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Forex fees are low🔴 Limited products on offer
✔️ Customer support is effective🔴 Research material needs to be expanded
✔️ Easy transacting

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $200
✔️ Average spread EUR/USD – active 🟣 0.86
✔️Average spread EUR/USD – standard 🟣 1.13
✔️VIP or active trader discounts🟣 Yes

FXCM Review South Africa

FXCM

FXCM focuses on traders who want to learn how to start trading in the financial markets. New traders can take advantage of the trading tools and Forex education that FXCM offers. While its range of tradeable markets is narrow and pricing is just average for everyday trading, FXCM caters to multiple trader types.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Research tools are good🔴 Product scope is narrow
✔️ Extensive educational tools🔴 Need to further develop platforms
✔️ Easy setup process

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $300
✔️ Average spread EUR/USD – active 🟣 0.70
✔️Average spread EUR/USD – standard 🟣 1.30
✔️VIP or active trader discounts🟣 Yes

XTB Review

XTB

XTB is a trusted multi-asset broker regulated in several major financial centers, XTB provides a well-rounded, competitive offering. Highlights include outstanding customer service and the xStation 5 trading platform, XTB has developed is an award-winning proprietary trading platform that delivers a great experience.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Manageable Forex fees🔴 Email support turnaround is slow
✔️ Flexible transaction rules🔴 Few products on offer
✔️ Quick setup process

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum deposit to start trading 🟣 $0
✔️ Average spread EUR/USD – active 🟣 0.78
✔️Average spread EUR/USD – standard 🟣 0.78
✔️VIP or active trader discounts🟣 Yes

Forex.com review south africa

Forex.com

FOREX.com is a one-stop-shop for Forex traders especially if you are based in the U.S. Forex.com offers a large range of tradable currencies an impressive trading platform, The platform also has an extensive education center that provides free, informative Forex trading courses at multiple skill levels.  It isn’t a conventional broker, however, and the confusing pricing and margin structures may also be overwhelming for new Forex traders.

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Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Forex fees are low🔴 Further development needed for the desktop platforms
✔️ Decent research tools🔴 Too few products on offer
✔️ Simple start-up steps

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $50
✔️ Average spread EUR/USD – active 🟣 0.7
✔️Average spread EUR/USD – standard 🟣 1.0
✔️VIP or active trader discounts🟣 Yes

TD Ameritrade Review

TD Ameritrade

TD Ameritrade is a top brokerage for investors across the United States. With competitive fees, a wide range of account and investment options, and excellent investor resources, this platform is certainly worth considering if you’re in the market for a new home for your stocks, bonds, and other investments.TD Ameritrade’s thinkorswim platform is a sophisticated multi-asset desktop experience that is great for Forex trading.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️Good trading fees🔴 Account opening is not fully digital
✔️ Great platforms for trading 🔴 Costly withdrawal fees on wire transfers
✔️ Solid customer support

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $0
✔️ Average spread EUR/USD – active 🟣 1.065
✔️Average spread EUR/USD – standard 🟣 N/A
✔️VIP or active trader discounts🟣 N/A

Dukascopy Review South Africa

Dukascopy

Dukascopy Bank is an excellent choice for highly experienced traders thanks to its JForex platform suite which provides Forex traders industry-leading trading tools and market research, which includes one of the favorite mobile apps for 2021. Drawbacks include terrible customer service and a narrow offering of tradeable markets

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Mobile app is one of the best🔴 Slow response times to queries
✔️ Forex platform suite is innovative and feature rich🔴 More for experienced traders
✔️ Great research including Dukascopy TV🔴 Narrow offering of products
✔️ Competitive pricing

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $1000
✔️ Average spread EUR/USD – active 🟣 N/A
✔️Average spread EUR/USD – standard 🟣 0.28
✔️VIP or active trader discounts🟣 Yes

Swissquote Review

Swissquote

Swissquote provides a mostly industry standard offering (streaming news headlines, economic calendar, blog commentary) but makes its mark by being the broker that goes above and beyond in quality. Traders will pay for this quality, however, but if you are someone who requires a multi-asset solution and is willing to pay a premium to have their brokerage account held with a Swiss bank, Swissquote is worth consideration.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ No inactivity penalties🔴 High trading fees
✔️ Great market selection
✔️ Research tools are decent

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $1000
✔️ Average spread EUR/USD – active 🟣 N/A
✔️Average spread EUR/USD – standard 🟣 N/A
✔️VIP or active trader discounts🟣 N/A

ETX Capital Review

ETX Capital

ETX Capital is known for its excellent customer services team, having finished Best in Class in the Customer Service category in 2021. Traders choose ETX Capital for its reputation built up over 50 years through its FCA-regulated offering. On the downside, although ETX Capital’s Trader Pro platform is solid, it lacks the depth of research that you can get from other trading platforms.

View all FSB regulated forex brokers 

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Great scope of transactions🔴 Trading fees are high
✔️ Easy sign up🔴 Research tools need to be increased
✔️ Decent resources

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $100
✔️ Average spread EUR/USD – active 🟣 0.81
✔️Average spread EUR/USD – standard 🟣 0.81
✔️VIP or active trader discounts🟣 No

CityIndex Review

City Index

City Index is backed by GAIN Capital, which is one of the largest retail brokers globally. Both beginner and advanced traders may find the broker’s online Trading Academy courses and videos of use, as well as their in-depth market analysis and research covering all asset classes via articles and webinars. Beyond its extensive range of products, multi-asset traders confidently choose City Index for competitive spreads, great platform options, premium research tools, and reliable customer service

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Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Low Forex fees🔴 Boring desktop experience
✔️ Basic sign-up🔴 Few products offered
✔️ Good resources

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $50
✔️ Average spread EUR/USD – active 🟣 0.8
✔️Average spread EUR/USD – standard 🟣 0.8
✔️VIP or active trader discounts🟣 Yes

Trading 212 Review

Trading 212

Trading 212 is an online brokerage aiming to make the world of trading securities and Forex more accessible. Trading 212’s web and mobile trading platforms are easy to use and well-designed and optimized for the mobile user.   The platform is very simple to navigate around, yet offers a powerful range of features

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Regulated by top tier FCA 🔴 Fees are high EUR/USD
✔️ Fast account opening🔴 Analysis tools are lacking
✔️ Solid trading platforms🔴 Verification of accounts is slow
✔️ CFD fees are low

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $1
✔️ Average spread EUR/USD – active 🟣 N/A
✔️Average spread EUR/USD – standard 🟣 N/A
✔️VIP or active trader discounts🟣 No

London Capital Group Review

London Capital Group

LCG’s Trader platform is highly recommended because it is easy to use and its great pricing. For traders that can afford the $10,000 minimum deposit, the LCGTrader ECN account type offers, hands down, the best pricing on the market. Overall, LCG’s research is respectable, providing an experience that is just above the industry standard.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Regulated by tier 1 regulator FCA 🔴 LCG shares were suspended due to pending regulatory filing (May 2019)
✔️ Excellent customer service 🔴 Research tools are limited
✔️ ECN account 🔴 No automated trading
✔️ Analysis and insights are good

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $10 000
✔️ Average spread EUR/USD – active 🟣 0.65
✔️Average spread EUR/USD – standard 🟣 1.45
✔️VIP or active trader discounts🟣 Yes

Darwinex Review

Darwinex

Darwinex differentiates itself by its own market term called a “Darwin”.  In their copy trading platform, traders and their strategies are listed as DARWINS. They start with a value of 100 and this value changes based on the performance of the underlying strategy. As an investor, you buy or sell these DARWINS in the same way as you would buy or sell stocks and shares. In this way, Darwinex provides Forex traders with a unique social copy trading community that enables investors to buy and sell trader-developed strategies. Copy-trading aside the offering is just average compared to some of their competitors.

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Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Best copy trading community🔴 Higher pricing
✔️ Regulated in one tier-1 jurisdiction🔴 Research tools need improvement
✔️ Top MetaTrader broker 🔴 Limited financial instruments
✔️ Client funds are segregated

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $100
✔️ Average spread EUR/USD – active 🟣 N/A
✔️Average spread EUR/USD – standard 🟣 N/A
✔️VIP or active trader discounts🟣 Performance discounts

HotForex Review

Hotforex

HotForex is enjoying growing success among global retail traders mainly because of its willingness to listen to clients, which led to them revamping its customer service platform. This revamps enabled the company to receive a ton of awards from several recognized institutions from Europe, Asia, Africa, and the Middle East.HotForex is also one of the few brokers that have multiple regulatory statuses throughout the world, according to research in South Africa

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Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Low deposit requirement for new traders with Micro accounts 🔴 Limited range of instruments
✔️ Lots of premium trader tools available🔴 Account opening not the easiest
✔️ Good customer support 🔴 US clients not accepted

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $5
✔️ Average spread EUR/USD – active 🟣 1.2
✔️VIP or active trader discounts🟣 Yes - Rewards Loyalty Programme

A review about Oinvest

Oinvest

OINVEST.co.za is a fully regulated South African broker that has a vast range of Webinars, VODs, Ebooks, Tutorials, Courses, and Articles. It uses the world-renowned Metatrader 4 platform which is available for a desktop mobile app or web browser.

A great platform for both the beginner or expert trader OINVEST is the proud sponsor of the Kaizer Chiefs.

Clients can trade over 250 CFDs in forex, cryptocurrencies, stocks, commodities, and indices. With so much choice even the beginner, will be able to find an asset to trade which they have intimate knowledge of.

If you need help their friendly Customer Service is available Monday-Friday 5am – 5pm GMT. They have Live Chat, email, online form or phone.

Awards received: Best Multi-Asset Broker South Africa 2018, Fastest Growing Forex Provider South Africa 2018 and 2019, Best Forex Broker 2019 and 2021, Best Stock Forex Broker 2021. The awards have been received from multiple agencies that cover the South African market.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Comprehensive training material for all levels of trader🔴 Inactivity penalties
✔️No hidden fees with competitive spreads🔴 Customer support could be available longer
✔️Multi Award winning broker
✔️Free demo account available

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $250
✔️ Average spread EUR/USD – Active 🟣 0.18 (2 pips)
✔️Average spread EUR/USD – standard 🟣0.26 (3 pips)
✔️VIP or active trader discounts 🟣Yes

Key Features

  
✅Minimum Deposit💲 250
✅Regulated By🗺️ CySEC
✅Trading Desk Type🔛 STP Broker
✅Trading Platform📊 Metatrader 4
✅Awards🏆 Various Awards

 

A review about Moneta Markets

Moneta

According to research in South Africa, Moneta Markets is an online trading broker that was established in 2021 and is based in the Cayman Islands.

Moneta Markets is a provider of more than 300 financial instruments that can be traded through its proprietary web- and mobile trading platforms.

Moneta Markets is a subsidiary of Vantage International Group Limited (VIG) which offers more than 10-years’ experience as a specialist in the financial markets. Vantage International Group Limited was established in 2009 and has licenses in three different jurisdictions. The entity handles around $100 billion in trading volumes monthly.

In its vision to pursue easy and transparent market access for worldwide retail clients, Vantage International Group Limited established Moneta Markets.

The aim of this broker is to provide traders worldwide with award-winning services and Moneta Markets has been recognized for delivering the most advanced web-based CFD trading platform in addition to offering the best customer services.

Overall Pros and Cons

✔️ Pros🔴 Cons
✔️ Strictly regulated🔴 US Clients are not accepted
✔️ Offers more than 300 tradable financial instruments🔴 MetaTrader trading platforms not offered
✔️ Segregated client funds which are held with the National Australia Ban🔴 Demo accounts are only valid for 30-days
✔️ Proprietary trading platform offered
✔️ Exclusive trading tools provided
✔️ Commission-free trading offered
✔️ Variety of account base currencies supported

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $200
✔️ Average spread EUR/USD – Active 🟣 0.09 (1.1 pips)
✔️Average spread EUR/USD – standard 🟣0.09 (1.1 pips)
✔️VIP or active trader discounts 🟣Yes

Key Features

  
✅Minimum Deposit💲 200
✅Regulated By🗺️ CIMA, ASIC and FCA
✅Trading Desk Type🔛 STP Broker
✅Trading Platform📊 Proprietary trading platform
✅Awards🏆 Various Awards

JustForex Review Image

Justforex

 

JustForex has gained an impressive profile and seems to offer clients high-quality services, stability of work and trading conditions with a variety of products and offers several attractive trading conditions and options for trading on the МetaTrader4, МetaTrader5 platforms as well as MT4/5 WebTrader and mobile application.

open a forex account

Account types

 

JustForex Demo Account  

This is an account designed for the needs of beginners and newbies and allows new clients to learn the basics of trading as well as provide tutorials in form of simulations. The only difference is that the client uses virtual cash in the execution of trades.

 

JustForex Standard Cent Account  

This has been designed for new clients who have little or no experience, or small-scale traders since it operates using cents as its base currencies and allows inexperienced traders to trade without great risk.

 

JustForex Standard Account

This is designed to suit traders who want to deposit and trade in any amount. The minimum deposit is just 1 USD, there are no commissions charged and lots of trading instruments can be used.

 

JustForex Raw Spread Account

This is meant for experienced traders who prefer intraday, frequent inputs, and outputs, and short working time frames. It is best for scalpers. The minimum deposit is $100.

 

JustForex Pro Account

Pro account is designed for experienced and professional participants of financial markets. Traders can use any style of trading on Pro accounts.

 

JustForex Islamic Account

This has been designed in accordance with the Islamic sharia law that prohibits swaps.

 

Overall Pros and Cons

✔️ Wide range of payment methods🔴 Not FCA Regulated
✔️ Tight spreads 🔴 Only offshore regulation
✔️ Low minimum deposit🔴 No MetaTrader MAC version
✔️ Qualified support team🔴 US traders are not accepted
✔️ Used by over 10 000 traders
✔️Regulated by FSA
✔️ Wide range of asset classes
✔️ Forex ECN trading available
✔️ Commission-free trading accounts

Fees and Commissions

✔️ Features🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $1
✔️ Deposit Fees🟣 $0 except cryptocurrencies @ 1% fixed rate
✔️ Withdrawal Fees🟣 Varies
✔️ Inactivity Fee🟣 $5 p.m. after 150 days of no trading
✔️ Standard Spread🟣 From 0.3
✔️ Pro Spread🟣 From 0.1
✔️ Raw Spread🟣 From 0
✔️ Commission🟣 None, but 3 units of the base currency per lot/side (Raw spread account)

 

HOW TO CHOOSE THE BEST FOREX BROKER

 

Foreign exchange trading, or forex as it’s known, has experienced a revival at a time when Covid-19 is wreaking havoc on the world. The pandemic has inflicted immeasurable damage on world economies but created opportunities for forex traders who are re-energized by market volatility.

 

WHY FOREX IS THE BEST INSTRUMENT TO TRADE NOW

 

Over the past few years, the forex market has been somewhat stilted as volatility decreased and trading volumes declined. Covid-19 has resulted in the demand for currencies such as the US Dollar as investors seek a safe-haven currency as the world experiences a cosmic fall-out from the pandemic in the form of high unemployment and desperate government overborrowing.

As the Covid-19 pandemic continues, the impact on forex trading and financial markets, in general, will be huge, with emotions overriding rational investment decisions and fast-changing situations dramatically changing how traders analyze market dynamics.

Regular day traders who have had more time on their hands due to the pandemic lockdown and those dabbling part-time in forex trading who find themselves suddenly unemployed will be looking for opportunities to profit from the bear markets and currency fluctuations that this world has not seen for a very long time.

Forex trading is the most sensible option if you’re looking to profit from the erratic state of the world markets and capitalize on opportunities while the world currencies are in flux. To do this, you need to align yourself with the best forex broker in South Africa that offers a premier trading platform, high-quality analytics, and extensive knowledge-based support.

 

REMEMBER THE FOREX RISKS

 

The retail forex market is growing by the day. It’s one of the most heavily-traded instruments in the world and it’s largely because the barriers to entry are fairly low. A decent computer with a good Internet connection, some trading knowledge, and a small amount of capital is all you need to access one of the most exciting markets in the world.

To make a success and, more importantly, make money from forex trading, you need to appreciate the risks involved and learn how best to manage them. Fortunately, there are tried-and-tested risk management strategies for the forex market that you can draw expertise from but they only limit the risks to some extent. Some people make money trading forex but many people lose a lot of money.

The four dominant risks to trading forex online relate to factors beyond your control. Forewarned is forearmed so consider these risks before you even start the process of choosing a forex brokerage that’s the best fit for you.

 

Risk 1: Market risk

 

Also known as systematic risk, market risk is almost impossible to predict and/or avoid. Factors such as inflation, political turmoil, a pandemic like Covid-19, terrorist attacks, and changes in legislation are just a few that affect the entire market.

Market risk is different from unsystematic risk where market conditions only affect specific assets, market sectors, countries etc. The latter can be managed through diversification and other practices recommended in risk management strategies.

With market risk, traders are hit by anything that impacts the price of the currency they are trading. In the form of market volatility, it can be beneficial and profitable. In fact, you can’t make money in forex trading without market volatility. You need price movement to take advantage of changes in currency prices, otherwise, you have a stagnant forex market which in itself is unprofitable.

 

Risk 2: Liquidity risk

 

Liquidity in the forex market allows traders to open and close trading positions fast and conveniently. This is because there is a healthy balance of buyers and sellers in the market. Liquidity refers to the volume or number of currencies traded on a daily basis.

Forex is one of the most liquid markets in the world but during periods of low liquidity, the cost of trading and losses incurred increase. When the forex market experiences low liquidity, brokers typically increase the size of their bid-ask spreads. It’s a way of managing supply and demand and is commonly used to facilitate orderly trading of assets that have low volume.

Illiquid instruments are difficult to trade because they can’t be easily converted to cash. In this case, brokers ask for more money in the form of commissions to handle the transaction, doing this by increasing the spread. The spread is the difference between the selling price and the buying price.

The solution to this risk factor is to find a broker that offers fixed spreads. It’s more important if you are concerned with how a specific currency pair will fare in current market conditions or if you generally favor a more aggressive trading strategy.

 

Risk 3: Leverage risk

 

Forex is highly leveraged, meaning you can borrow far more money than you have personal capital available. It lowers the barriers to entry and allows new or inexperienced traders a foot in the door, sometimes to their peril.

The money is typically borrowed for forex trading from your broker. With leverage, forex traders can build up and control a large amount of money. Likewise, they can lose a lot of money on positions if the market doesn’t work in their favor.

The standard strategy is to trade with stop-losses to limit losses from sudden price movements in the wrong direction. A disciplined approach to forex trading implementing recommended risk strategies should safeguard you against ballooning leverage and loss.

 

Risk 4: Broker risk

Forex traders are entirely beholden to their brokers to open and close trading positions. It’s therefore imperative that you align with the best broker in South Africa. There’s no guarantee that the top brokers in South Africa won’t pull a nasty on you but these companies are strictly regulated and are less likely to than the many new entrants that fly under the regulatory radar.

In South Africa, the regulatory authority for forex brokerages is the Financial Sector Conduct Authority (FSCA).

Depending on which brokerage you’re interested in and where they are based, the leading financial regulatory authorities for international-based brokerages are:

CountryRegulatory Authority
🇺🇸 United StatesNational Futures Association (NFA)
Commodity Futures Trading Commission (CFTC)
🇬🇧 United KingdomFinancial Conduct Authority (FCA)
Prudential Regulation Authority (PRA)
🇦🇺 AustraliaAustralian Securities and Investment Commission (ASIC)
🇨🇦 CanadaInvestment Information Regulatory Organisation of Canada (IIROC)
🇩🇪 GermanyBundesanstalt für Finanzdienstleistungsaufsicht (BaFIN)
🇨🇭 SwitzerlandSwiss Federal Banking Commission (SFBC)
🇨🇭 FranceAutorité des Marchés Financiers (Financial Markets Regulator) (AMF)

 

10 QUESTIONS TO ASK YOUR FOREX BROKER

 

Do a search online and you’ll find the number of retail forex brokers has increased substantially. There are many brilliant forex brokerages in South Africa and a few rotten apples who operate outside the boundaries of strict regulatory sanctions.

To narrow down the long list of forex brokers in South Africa, there are 10 important questions you can use to evaluate their standing in the market.

 

Q1:        Does the broker service the South African forex market?

Q2:        Is the broker regulated by a reputable authority?

Q3:        Can the broker guarantee data security?

Q4:        Does the broker have a reputation for good trade execution?

Q5:        Does the broker offer broad coverage of currencies?

Q6:        Is the broker’s fee structure fair and competitive?

Q7:        What trading platform does the broker support?

Q8:        Is the broker’s trading style relevant to you?

Q9:        Does the broker have a reputation for good customer service?

Q10:      Does the broker offer valuable trading resources and educational support?

 

CRITERIA USED TO JUDGE FOREX BROKERS

 

The retail forex market is risky, competitive, and often overwhelming. Choose the right broker for your trading style to improve your chances of making money from the most traded instrument in the world.

In no particular order, brokers are typically judged on the following criteria:

 

Regulated

Simple, is the broker a member of a reputable regulatory authority?

The forex market is regulated whereby brokers are required to operate within the sanctioned boundaries of strict financial rules and standards. However, the forex market, or rather its many brokers, as a whole is not as strictly regulated as traditional financial institutions.

It’s said, regulatory authorities act more like ‘watchdogs’ in the forex market. They act as arbitrators in cases of fraud, bankruptcy, or other misdemeanors and provide online retail forex customers with a regulatory body they can take their case to or voice their complaints.

When a regulated brokerage breaks any rules, the company should be subject to an inquiry and sanctioned if it comes to that. That would include incurring financial penalties and/or losing its trading license. An unregulated broker doesn’t answer to anyone and rogue forex brokers get away with things because they basically can do whatever they want.

Retail forex traders who trade online are particularly vulnerable to rogue brokers. Most don’t even know who they are dealing with when everything is conducted digitally. The most serious problem is forex brokers not honoring withdrawals and not paying their customers the money owed to them. It’s almost impossible to get your money out of an unregulated broker who does a dirty or goes bust.

As long as you trade online with a regulated forex broker, you at least have recourse that there is a higher entity that you can report them to when things go bad. It’s very easy to check the regulation credentials of a forex broker in South Africa.

Check their website. A reputable forex brokerage that is regulated will provide the name of the regulatory authority (or authorities) on its website. If it doesn’t, the chances the person or company is unregulated.

Then do a simple search on the regulatory authority’s domain to verify the broker is a registered member.

You might like: View the top 26 Forex Brokers in Nigeria 

 

Reputation

This is self-explanatory. The forex market talks and you should listen to what investors have to say. You’re looking for recommendations for brokers who offer good customer service, are honest and reliable, follow the rules, have a track record of good trading practices, and are likely to stay in business for a long time.

However, when reading through online broker reviews, look carefully at who is reviewing the broker and what their gripe is about. Many novice or ill-disciplined traders put the blame on the broker for their trading woes when in fact, they’re the problem.

Do your research and check with the regulatory authority – if they are regulated – for any complaints or claims of fraud. If the broker is not regulated, that’s your first big red flag.

When you’ve narrowed down the list of reputable forex brokers that appeal to you, it’s best to set up a micro account (maybe with more than one). If you’re new to forex trading, you’d start with a demo account. That gives you time to experience their service first-hand.

Avoid any forex brokers that have complaints against them for any of the following pricing and account management issues:

 

Requoting

When a broker is not able or willing to give you a trade based upon the price you entered. This usually happens in a fast-moving market, typically before a big news announcement.

 

Excessive slippage

Slippage is where currency prices can change while an order is being placed, causing traders to enter or exit a trade at a price that is either higher or lower than they anticipated.

 

Front running

Front running in forex trading is unethical and illegal trading practices. It usually involves a broker having advanced knowledge of a specific market order in a currency pair and the broker places an order for their own account ahead of a client’s larger order.

 

Stop hunting

Stop hunting is an unscrupulous strategy executed by certain forex brokers that attempts to force their trading customers out of their positions by driving the price of an asset to a level where their stop-loss order has been set.

 

Forbidden strategy clauses

Read the fine print. Some forex brokers specifically prohibit customers from using their services for certain trading strategies. Many also include hidden terms and conditions, such as giving you a limited period of time to hold a position or they don’t allow you to scalp or pip hunt.

 

Transaction costs

Trading forex online isn’t free. Brokers charge for their services in a few different ways, some of which are hidden fees that catch you by surprise later. Brokers earn money through spreads, commissions and rollover fees. They compete mostly on spreads, in other words offering low, average or high trading fees.

 

What is the spread in forex trading?

The spread is the difference between the bid (buy) and ask (sell) price, otherwise known as the bid-ask spread. There are always two prices given in a currency pair; the bid price, the price at which you can sell the base currency; the asking price, the price you would pay to buy the base currency.

The base currency is on the left side of the currency pair and the quote is on the right. For example, USD/EUR: the US Dollar is the base currency and the Euro is the quote currency.

If you buy a currency pair; you buy the base currency and indirectly sell the quoted currency. And if you sell the currency pair, you sell the base currency and receive the quote currency.

 

Forex fee structures

Trading fees are determined by the broker and differ from one to another. They even differ from one account to another. Basically, a broker charges a spread only, and all other fees (excluding the rollover rate) are included in the spread or they charge a spread plus commission. The commission is based on the amount you trade:

  • Spreads and commission

The spreads are either fixed, meaning they stay constant; variable, meaning they change according to the traded asset, volatility, and available liquidity. Some brokers offer zero spreads. The lowest spreads suit active or frequent traders. Forex brokers who offer low spreads are the most popular.

 

  • Rollover rate

Forex positions that are kept open overnight incur an extra fee, otherwise known as the rollover rate. The rate is the difference between the net interest rates of the two currencies over the period of time the position was kept open. It relates to leverage where traders have borrowed money to hold open the position.

When traders roll over a position, they delay taking delivery of the currency. This happens when they want to profit from changes in the exchange rates. What happens is the existing position is closed at the daily close rate and re-entered at the new opening rate the next trading day.

The traders either earn interest in their account for a high-yielding long position or need to pay interest if the currency they borrowed has a higher interest rate relative to the currency they bought. Brokers earn interest on money borrowed for rollover trades.

 

Questions to ask your broker

Beware hidden fees that will erode your profits. Here are some of the questions you need to ask when summing up one forex broker against another on the issue of fees.

  • Is there a fee for opening an account?

 

  • What is the minimum deposit for an account?

 

  • What is the minimum loan amount and account balance?

 

  • What is the margin rate?

 

  • What is the monthly or annual account maintenance fee?

 

  • Is the trading platform free to use under your membership contract?

 

  • How much will it cost to upgrade your account to access advanced tools and resources?

 

  • How much trading commission is charged based on volume?

 

Leverages

 

Forex is a highly leveraged market, meaning you can borrow money to trade. The money is typically borrowed from your broker. For an initial margin requirement, a trader can build up and trade with a large amount of money (money that they don’t personally have).

Margin-based leverage is calculated by dividing the total transaction value by the amount of margin you are required to put up. Margin-based leverage is expressed as a ratio:

  
ℹ️ 400:1🔸 0.25% margin required of total transaction
ℹ️ 200:1🔸 0.50% margin required of total transaction
ℹ️ 100:1 🔸 1.00% margin required of total transaction
ℹ️ 50:1🔸 2.00 % margin required of total transaction

When selecting a forex broker, you need to know what leverage they offer in different circumstances. Remember, brokers offer leverage to entice people to trade more. The more you trade, the more the broker benefits from fees and commission.

Leverage is one of the main reasons traders are attracted to the forex market. Generally, you can get far higher leverage on forex than you can get on other financial instruments such as stocks. Leverage can be used to profit from relatively small price changes in currency pairs. It can increase profits but also losses.

Most traders have a love/hate relationship with leverage. Used wisely, leverage can enlarge your profits. Used irresponsibly, leverage can be your downfall. As a rule, you should not use all your available margin; only use leverage when the forex market is on your side.

 

Currency coverage

There are hundreds of currency combinations available to trade on a daily basis. The question to ask is whether the broker offers the currency pairs you want to trade? Most forex brokers offer the major currency pairs, but not all of them cover minor and exotic currencies.

The four major currency pairs covered by forex brokers around the world are:

      
    💱 EUR/USD 💶 Euro/US Dollar
    💱 USD/JPY💵 US Dollar/Japanese Yen
    💱 GBP/USD💷 British Pound/US Dollar
    💱 USD/CHF💵 US Dollar/Swiss Franc

 

The major currency pairs are the most heavily-traded pairs in the world. They are commonly cross-traded with commodity currency pairs, otherwise known as minor pairs.

The most heavily-traded commodity/minor currency pairs are:

      
    💱 GBP/JPY💷 Great British Pound/Japanese Yen
    💱 CHF/JPY💴 Swiss Franc/Japanese Yen
    💱 NZD/JPY💴 New Zealand Dollar/Japanese Yen
    💱 GBP/CAD💷 Great British Pound/Canadian Dollar
    💱 EUR/GBP 💶 Euro/Great British Pound
    💱 EUR/AUD💶 Euro/Australian Dollar

 

Adding commodity currency pairs in the mix, the Top 10 major currency pairs covered by forex brokers should be:

      
    💱 EUR/USD💶 Euro/US Dollar
    💱 GBP/USD 💵 US Dollar/ Japanese Yen
    💱 AUD/USD 💵 Australian Dollar/US Dollar
    💱 USD/CAD 💵 US Dollar/Canadian Dollar
    💱 USD/CNY 💵 US Dollar/Chinese Renminbi
    💱 USD/CHF 💵 US Dollar/Swiss Franc
    💱 USD/HKD 💵 US Dollar/Hong Kong Dollar
    💱 EUR/GBP💶 Euro/Great Britain Pound
    💱 USD/KRW 💵 US Dollar/South Korean Won

 

Forex brokers typically ignore exotic currencies. These are lesser-known and infrequently trader currencies, mainly from developing and emerging markets. The South African Rand is considered an exotic currency pair.

As an example: USD/ZAR is a currency pair where the base currency (USD) is a major currency and the quote currency (ZAR/South African Rand) is an exotic currency.

Most forex traders exclude exotic currencies from their coverage because they’re associated with low liquidity levels and wide spreads that make them both an opportunity and a risk. On the other side of the coin, exotic currency pairs offer forex traders huge opportunities. Exotics can provide good profits where the major pairs are not offering up much in low volatility environments.

The more commonly-traded exotic pairs are:

    •   
      💱 EUR/TRY💶 Euro/Turkish Lira
      💱 USD/SEK💵 US Dollar/Swedish Krona
      💱 USD/ZAR💵 US Dollar/South African Rand
      💱 USD/HKD💵US Dollar/Hong Kong Dollar
      💱 USD/SGD💵 US Dollar/Singapore Dollar
      💱 USD/MXN💵US Dollar/Mexican Peso

 

Low-risk accounts

All forex brokers offer online retail traders a demo account as an entry-level account but they should also offer a micro account, and one with no set minimum deposit requirement. Both are important to attract newcomers to forex trading without putting them at risk of losing much money as they learn to trade.

Micro accounts, also known as cent accounts, are a stepping stone into forex trading. They’re a step up from a demo account and allow new traders to hone their trading strategy before investing real money. The difference between a micro account and a mini account is that the amount of money traded using a mini account is significantly higher than a micro account.

With a micro account, online retail traders receive the same quotes and experience trading in the same conditions as micro or real account but they trade in cents rather than Dollars. The amount of risk is about 1% compared to a Dollar account.

Micro accounts are a perfect learning environment, to not only test and adopt a trading strategy that suits your trading style but also to develop ‘emotional trading fitness’ before taking the next step from trading in cents to thousands of Dollars.

The next step is a mini trading account.

Mini accounts allow forex traders to trade in tenths of a lot (10 000 units). To compare, a single pip movements in a currency pair with the US Dollar as the base currency is equivalent to US$1 in a mini account whereas a single pip in a standard account is US$10.

You can open a mini account with as little as US$250. It’s a risk most newcomers and even seasoned forex traders can accept. In addition, a mini account allows traders to trade in 250 000 units (25 mini lots). With standard accounts, you have to trade 200 000 or 300 000 units.

 

Flexible, convenient withdrawals

Brokers hold onto your money to facilitate trading. Getting your money back from your broker should be convenient, fast and hassle-free. However, if you review complaints about forex brokers online, thousands of them complain about missing funds or problems withdrawing money from their forex account.

In the same vein, depositing money into your forex account should be easy. You’re looking for a broker that is flexible and offers their customers different ways to deposit and withdraw funds.

That’s why it’s so important to trade online with a regulated forex broker. You have peace of mind that there is a regulatory authority that you can elevate issues to and who will assist you to deal with a rogue brokers who isn’t releasing funds from your account.

 

Trading platforms

For online retail traders, the trading platform is your portal to the forex market. It’s the software that enables traders and investors to open positions and monitor their accounts through a financial third-party such as a forex broker.

Trading platforms can be accessed via your PC and on most mobile devices, ranging from smartphones to tablets. They typically come with added features such as charting tools, real-time quotes, APIs, news feeds and research resources.

The majority of forex brokers offer an electronic trading platform on license from a software developer. The most well-known, popular, and trusted trading platform is the MetaTrader 4, with MetaTrader 5 offering customers more advanced software features.

A few leading forex brokerages offer a proprietary trading platform, meaning it’s been developed inhouse to their own software specifications. Some offer a customized version of MT4. Proprietary trading platforms are a way for a brokerage to differentiate themselves from their competitors. They’re suited to traders who are experienced traders and prefer to use a specific forex brokerage.

If you’re new to forex trading, MT4 is the recommended trading platform. It’s the world’s leading trading platform for a reason and the best for beginners. It supports multiple timeframes and has a large library of technical indicators that traders can access to overlay their trading accounts. What’s more, MT4 is well known for its impenetrable security.

The best forex trading platforms have this in common

Responsiveness

An important aspect of forex trading is slippage which means responsiveness is key. Slippage occurs where a trader places a stop-order loss and a high-volatility event occurs, causing a gap that results in a lower-than-expected value on the trade. Trading on a responsive platform through a quality broker should limit negative slippage.

 

Reliability

You don’t want your trading platform to crash at a critical time in an open position, especially minutes before a significant global event that will stir up price movements. You need a stable trading platform, particularly if you practice an aggressive trading strategy or make large, frequent trades.

 

User-friendly interface

A user-friendly interface is one that allows traders to place an order or close a trade smoothly and efficiently. It allows one-click trading and management of stop-loss and limits. The platform interface should also be easy to navigate and set up trading charts and tools as well as optimised to work with several charts at a time.

Automatic trading

An automated trading system allows traders to set rules for opening and closing positions. It’s basically setting your computer on auto-drive and the computer performs and monitors trades for you. A trading platform like MT4 incorporates algorithms that offer up suggestions for trades and also allow you to build your own algorithms that automatically places orders according to preloaded conditions.

 

Analysis tools

Analysis tools are vital to trade effectively and profitably. Without them, you’re trading in the dark. Your trading platform should provide a collection of technical indicators that forex traders rely on and add to their charts. At the very least, these should include moving average convergence/divergence (MACD), the relative strength index (RSI) and moving averages (Mas).

Forex trading tools are generally offered free of charge by forex brokers as they’re built into the popular trading platforms such as MT4. In some cases, traders subscribe to forex signal trading services or apps for certain tools. Forex traders should also subscribe to online resources that provide up-to-date news on the financial and forex markets.

Trading platforms like MT4 offer a comprehensive package of technical indicators as well as automated trade capabilities. Also known as oscillators, indicators give traders entry and exit signals before an event affects price movements.

It’s important that indicators are used in context with current market conditions in order to minimise false signals. Using indicators in technical analysis allows forex traders to set more accurate entry and exit points on the charts but keep in mind you do get false signals at times.

The most popular leading indicators are:

 

Stochastic Indicator (SI)

SI is used by forex traders to determine overbought and oversold conditions in the market. In other words, where there is too much buying in the market and prices could be due for correction, or there is too much selling and a possible rebound is due.

This indicator consists of two lines that move together and interact with each other at some point. It has an upper and lower zone, where the upper zone is the overbought area and the lower zone is the oversold area.

When the two lines converge in the lower area, the SI is giving you an oversold signal. When the two lines meet in the upper area, the SI is giving you an overbought signal.

 

Relative Strength Index (RSI)                   

The RSI provides overbought and oversold signals as well as divergences. It’s serves the same function as the SI but the RSI only has one line which enters the upper or lower zone which are the overbought and oversold areas.

RSI indicates bullish and bearish divergences. Bullish divergences signal potential upward price moves; bearish divergences indicated potential downward moves.

 

Popular lagging indicators are:

 

      • Average Directional Index (ADX)

 

      • Bollinger Bands

 

      • Moving Average Convergence Divergence (MACD)

 

      • Parabolic SAR (Stop and Reversal)

 

In addition to indicators, trading platforms have built-in tools that provide powerful technical analysis. Technical analysis forms part of a comprehensive trading strategy and provides a framework in which forex traders analyze price movements. The data supplied is historical, with the idea being that historic price movements help traders determine current and future price movements.

 

Economic Calendar

An economic calendar helps forex traders by scheduling dates of significant releases or events that may have a negative or positive effect on currency price movements.

 

Financial News

This is up-to-date financial news that’s trending in the forex market. The content is provided by leading financial journalists and news sites such as Reuters, Bloomberg, Wall Street Journal, Financial Times, and MarketWatch.

The sites also relay breaking news on political developments, national disasters, employment issues and production health of strategic natural resources. These all have an impact on global exchange rates and positively or negatively affect the value of currency pairs.

 

Pip Value Calculator

A Pip Value Calculator helps forex traders determine the value per pip in their base currency relative to their position. It allows forex traders to monitor their risk per trade more accurately. A pip is the lowest trading unit for a currency pair is typically worth a different amount, depending on the base and quote currency.

 

Currency Correlation Tool

The forex market is made up of thousands of currency pairs and known and calculable correlations exist between currencies, either positive or negative correlations. Correlation is a statistical measure of the relationship between two trading assets. The Currency Correlation Tool shows the extent to which two currency pairs have moved in the same, opposite or completely random directions within a particular period.

 

Spread Comparison Tool

Evaluating a broker’s typical dealing spreads is one of the most important things to do when selecting a forex broker, particularly if you are new to forex trading and/or are a spread-sensitive trader. The Spread Comparison Tool shows prospective traders the spreads brokers usually quote on major currency pairs, typically separated by USD, EUR and GBP pairs.

The spread analysis can be filtered by currency pair, session or time frame. It gives traders a heads-up when it comes to selecting a forex broker because the spread analysis shows which brokers offer the most competitive spreads.

 

Time Zone Converter

The Forex Time Zone Converter allows traders to view the major market opening and closing times in their local time zone. This is a useful tool because forex is not traded on a regulated exchange like stocks and commodities. The retail forex market has its own individual hours of operation, although most participants trade between 08h00 and 16h00 in their own time zone.

 

Volatility Calculator

Market volatility is an essential element of forex trading. Calculating the volatility of a currency pair is no easy and best left to a Volatility Calculator. Typically, a calculator takes historical exchange rate information and determines the implied volatility of a currency pair in real-time.

 

Trade Journal

A Trade Journal helps forex traders keep an accurate record of their trades. It’s a valuable tool because traders can learn from their mistakes and adapt their trading strategy accordingly.

 

Data security

Data security is more important than how a platform looks and performs. It’s essential that the software safeguards your personal information and you need a guarantee the data will not be compromised. The type of data encryption on the platform gives you an indication of how well your data will be protected as it is transferred across the Internet.

A reputable trading platform such as MT4 is well known for its impenetrable security. It uses firewalls both on the server and application level. It also uses two separate synced servers on which the data is stored. This allows any lost information from one of the servers to be recovered by the other server.

 

Customer support

Retail forex trading is typically done online through a reputable forex broker using their trading platform to access the forex market. There’s very little personal interaction with anyone at the brokerage but when you need help, you want someone alive and breathing that you can speak to. Not a chatbot.

A good broker offers 24/7 ‘round-the-clock’ customer support. Customer service is not usually uppermost on people’s minds when they’re reviewing forex brokers but it’s still important.

Some of the questions you can ask a potential broker include:

      • Do they have a dedicated number that connects to a human for trade help and questions?

 

      • Is the customer support line manned 24/7 or only during office hours?

 

      • Who can you contact for prompt assistance?

 

      • Does the website have an online chat feature for general assistance?

 

      • Does the website list FAQs on common forex trading issues?

 

      • Does the broker offer technical support?

 

Education resources

Good brokers give back more than they take, or they should do anyway. What they offer in educational resources is a good indication of a broker’s interest in their customers and their desire to invest in their customers forex trading journey. Forex trading is risky and a good broker will help limit the risk by investing in your forex education.

A decent trading platform such as MT4 offers a wide range of educational material as well as access to forex experts and mentors. Even seasoned forex traders benefit from ongoing learning and will draw on educational resources to hone their trading style.

Forex education resources come in the form of videos, webinars, podcasts, user forums, and written articles. They’re either generated in-house or written or produced for the brokerage by specialist traders. These resources should be produced in a professional manner and obtained from a reliable source.

Education resources are particularly important for beginners. If you’re new to trading and using a demo account, you’ll find glossaries, how-to articles very useful. As you grow as a forex trader, fundamental analysis, portfolio diversification guidelines, risk management tools and trading strategies become part of your everyday trading world.

 

Bonuses

Competitive forex brokers used to offer bonuses as a carrot to entice people to trade more. These came in the form of cashback, no-deposit bonuses, free trades, and deposit matches. However, bonuses are strictly regulated these days after years of abuse and only rarely pop up among certain brokerages.

Bonus offers should not be a deciding factor when choosing a forex broker. In particular, always check the terms and conditions attached to bonuses and be careful not to overtrade through these promotional schemes.

Selecting a forex broker is not as easy as Googling “best forex broker in South Africa” and picking the first broker on the first page of the search. Traders develop their own trading style and not all forex brokers are a good match. Another thing to consider is the forex market is not regulated as strictly as the traditional financial sector and rogue brokers do find their way into the mix.

There are two steps you can take to avoid finding yourself stuck with an unsuitable forex broker.

Firstly, sign up for a forex trading course with a reputable online college. The end goal is to develop a trading strategy that suits your needs and hone your trading style through education and knowledge of how the forex market works. There are many issues to consider when choosing the best forex broker for your needs and a good trading course will enlighten you on what’s most important.

Secondly, start trading with a demo account. Narrow down your list of preferred broker candidates and if need be, set up more than one demo account to test different brokers. They may all sound good on their webpages but you’ll soon discover whether they provide good customer support and deliver on their promises.

 

Final Verdict

Some of the reasons a great number of people who trade for themselves choose Forex trading include the possibility of very high returns, 24 four hour a day market hours, high volatility of the Forex market which provides more opportunities for profits, and higher liquidity with a daily average of 5 million dollars of turnover a day.

But in a marketplace filled with different trading platforms, how do you know which trading platform is the best one for you?

Whether you are just now becoming interested in giving Forex trading a try, or if you are a more experienced trader, a comparison of trading platforms can be helpful in helping you get started or to confirm you are trading with the best available tools at your disposal.

We hope you enjoyed our guide on the 27 best-known forex platforms in the market, as well as a brief description of what makes them good for the traders they are aiming to attract.

 

 

Frequently Asked Questions

 

Who are the best forex brokers in South Africa?

Here is a list of the Best Forex Brokers in South Africa.

What is the cost of Forex trading?

The total expense that a trader has to pay in order to run their trading business. Keep in mind trade execution fees. 

Do forex brokers charge commissions?

Yes, it is paid in relation to what brokers and dealers call “spread.”

Do I need a broker to trade forex?

No, but having a broker gives you 24-hour access to the market and the ability to speculate on currency pairs.

Do forex brokers in South Africa want you to lose?

When you consider that almost 95% of traders lose money, it a safe assumption to make. Learn more about the foreign exchange market

How difficult is Forex?

If your aim is to make money quickly, forex can be quite difficult. However, forex trading is also easy if you are willing and dedicated enough to put in the time and effort and very importantly, take the losses as being part of forex trading. (Might we suggest – Forex Trading Books every trader must read)

How long does it take to grow a forex account?

If you are a profitable trader it will take more or less 6 months – 1 year of practicing forex trading EVERY DAY. That is until you are consistent enough to pull a regular income from the forex market. Should you make money in the first few months, it is pure luck.

Does forex have a monthly fee?

Usually not, but some forex brokers do charge an inactivity fee after 3 consecutive months of non-use and every successive inactivity period.

Is forex trading better than stocks?

That depends solely on your goals as a trader, your tolerance for risk, and your trading style. Stock trading involves less leverage and regulation than forex trading, making both trading types highly lucrative and highly risky.

What Qualifications do you need to become a trader?

If you want to work for a reputable financial institution or company, a 4-year college degree is usually a basic requirement. Most traders have degrees in business, maths, economics, banking, or accounting.

What makes forex so popular right now?

The popularity of forex trading can be attributed to its online presence (ease of access) for anyone All you need is a computer and an internet connection.

Who moves the forex markets the most?

Governments and Central Banks, The Super Banks (the largest banks in the world), Large Commercial Companies, and The Speculators.

Disclaimer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk. Understanding how cfds work is crucial to limit losses.

Other notable brokers to consider:

  • CMC Markets
  • Interactive Brokers
  • Saxo Bank
  • Vantage fx
  • IC markets

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By: Eyaaz

The protest planned for 1 February when government presents the annual budget was postponed following clashes that left one dead and hundreds injured

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Opening statement, COVID-19 Press Conference, 28 January 2021

Opening statement, COVID-19 Press Conference, 28 January 2021
I am very pleased to be joined by Professor Tulio de Oliveira, who is the Director of KRISP at Nelson Mandela School of Medicine in South Africa and by Dr Amadou Sall, who is the Director of Institut Pasteur in Senegal.
elombatd@who.int Thu, 28/01/2021 - 14:31

Q&A Sessions: ‘Sport taught me to go for gold’

January 28th 2021 at 14:00
By: Eyaaz

Being selected as the Inaugural Obama Leader in Africa in 2018 and now ranked among the 100 Most Influential Young Africans, Melene Rossouw talks to Nicolene de Wee about how she went from growing up in a poor neighbourhood to become a lawyer, activist and the cofounder of the Women Lead Movement. But she’s not all about work — she loves jazz, R&B and hip-hop

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29 January 2021

January 28th 2021 at 17:10

The Digital Edition is an exclusive product available to our subscribers

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The recently renewed NPA should show its teeth

January 29th 2021 at 06:03
By: Eyaaz

The body should overcome its reluctance to classify atrocities as crimes against humanity, as the cases of Joao Rodrigues and Wouter Basson demonstrate

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‘Amandla’ review: Blood, tears and music of the struggle

January 29th 2021 at 06:55
By: Eyaaz

‘Amandla’s’ status as a cultural rallying point during apartheid is captured in this Sounds review, republished in Chimurenga’s book ‘Festac 77’

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Thief in the night: Covid took my mom

January 29th 2021 at 08:00
By: Eyaaz

The virus has stolen our last attempts at giving her life dignity; we couldn’t pay our respects or give her the send-off she deserved

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Political parties move online but risk losing inclusivity

January 30th 2021 at 14:00
By: Eyaaz

Did the Democratic Alliance’s 2020 virtual Federal Congress achieve equal access, and what does the move to digital politics mean for the upcoming elections?

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Bill Gates, Big Pharma and entrenching the vaccine apartheid

January 30th 2021 at 14:00

Waiving intellectual property restrictions on Covid-19 vaccines could help the developing world. But India and South Africa’s pleas are falling on deaf ears

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Making waves at Sol Plaatje University

January 30th 2021 at 14:00
By: Eyaaz

New vice-chancellor Professor Andrew Crouch tells Bongekile Macupe about his plans to put the institution on the world map and create a talent pipeline to help high-achieving matric learners

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LGBTQIA community in Uganda: ‘We are human’

January 30th 2021 at 14:10

Stuart Tibaweswa photographed and interviewed members of Uganda’s LGBTQ community to find out about their views on democracy and experiences of  injustice

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The social contract is broken

January 31st 2021 at 14:00
By: Eyaaz
Gatvol: Citizens march to the Union Buildings in Pretoria protesting against corruption in government.

The government misuses taxes and does not maintain our safety, justice, health and infrastructure systems. Eventually citizens will tire of the lack of delivery

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Governments around the world condemn Myanmar’s military coup

February 1st 2021 at 04:34
By: Eyaaz

The United States led governments around the world in calling for the restoration of Myanmar's democracy on Monday after the military staged a coup, arresting civilian leader Aung San Suu Kyi and other politicians

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Payback time for workers fired from Luxor Paints

February 1st 2021 at 04:48
By: Eyaaz

The company has been ordered to reinstate and compensate employees it dismissed unfairly after a strike. And although a court review may delay justice, the workers won’t give up the fight

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Why Bafana haven’t repeated their 1996 success

February 1st 2021 at 04:58
By: Eyaaz

It’s been 25 years since South Africa lifted the Africa Cup of Nations. Instead of dawning a new era, Bafana Bafana went backwards in spite of the country’s footballing wealth and infrastructure

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