Best Forex Trading Platforms in South Africa 2020
Forex Trading Platforms South Africa – Let’s be clear, the world of Forex Trading is interesting. Once you take a step in this field, you’ll want to try earning more and more. But, the sad thing is that not every platform is trust-worthy. You have to choose carefully which platform you’d want to invest in.
Each platform has its own pros and cons, so it’s best to understand what you specifically want.
In this column today, we offer you a carefully researched review of the popular 24-hour forex trading platforms currently working.
Forex Trading Best Platforms South Africa
1. TD Ameritrade
No matter where you are in your Forex Trading journey, either a newbie or a professional, TD Ameritrade has options for everyone. Beginners have a wide range of resources and options that are great for investing and trading.
Trades at TD Ameritrade cost 6.95$ per trade and 0.75$ per contract. You get additional bonus with larger opening deposits.
TD Ameritrade provides investing and FX Trading for over 10 million clients. In addition to a total amount of assets of over 1 trillion dollars. With almost 500 thousand trades daily, TD Ameritrade hits the mark as one of the best Forex Trading Platforms nowadays.
2. Robinhood
While some professional traders are not happy with the way trades are currently handled and processed in Robinhood, it is an excellent platform for beginners to start with no trading fees.
Robinhood is a web-first platform and it doesn’t offer much when it comes to education and research tools. Robinhood offers commission- free stock trades.
With Robinhood’s cash management options, foreign transaction fees and maintenance fees are not charged
3. Forex
Forex has been connecting independent to the global trading market since 2001. It has proven record of financial strength and stability, with resources to continue to innovate and lead the industry forward.
Forex is specialized by the fast trades and consistent execution and giving traders the opportunities for price improvements.
4. IG
IG is a world online trader and provider, giving access to many financial markets. The Trading Platform helps clients trade on leverage, through CFDs. You can choose to trade on Indices, Forex, shares, commodities and more.
IG is the number 1 CFD provider platform. The Trading Platform is authorized and regulated by the Australian securities and investment committee (ASIC). They are fully delegated and committed to their clients. To ensure this commitment, they signed up with FX Global Code Of Conduct
The platform was founded in 1974, making it the first company of its kind. And now the company has sales offices in 15 countries.
Of course, IG provides security and privacy regarding the money and investments. The traders’ money is held in segregated accounts at regulated banks. IG deals with over 16 thousand trading and financial markets.
5. Saxo Group
Saxo Group are leading fintech specialists, connecting traders and investors to Forex, CFDs, stocks and many more. They build digital platforms to facilitate multi-asset market access and provide clients with all types of professional tools.
Traders are connected to global markets from a single, cross-collateralized account. They continue to break down barriers in global capital markets by delivering premium services, competitive prices and intuitive platforms.
Saxo Group are dedicated to improving industry standards and best practices among Forex Trading Markets participants. They also insist on ensuring fair outcomes for all clients, so they disclose all dealing practices. Their commitment to transparency shows that their interests are aligned with their clients.
6. CMC Markets
Through its offices regulated in many global financial centers, CMC Markets offers traders a wide range of financial products with excellent pricing and its next generation trading platform, which is packed with innovative trading tools and charting.
CMC Markets is the undisputed leader for low cost trading and number 1 pick for active trading. The platform delivers terrific tools, widespread market research. They even have developed a mobile app to make it easier for their clients.
CMC Markets offers great customer service. The broker finished 6th out of 23 in the United Kingdom’s national testing. They offer as well quality education alongside a user-friendly web platform, making it perfect for the less experienced traders.
CMC Markets is considered low-risk. The platform is publicly traded, does not operate a bank and is authorized by; ASIC, Investment Industry Regulatory Organization Of Canada, Monetary Authorization Of Singapore and Financial Conduct Authority.
The platform was founded in 1989. It has grown to become one of the leading Forex Trading Platforms and CFD Brokerages. CMC Markets offers an extensive range of nearly ten thousand CFD instruments across major asset classes
The platform serves over fifty thousand clients worldwide through its fifteen offices globally with a staff count of 687. CMC Markets is regulated in the United Kingdom, Canada and Australia. It holds more than £200 million in Tier 1 regulatory capital and over £332 million in segregated funds as per its last annual report.