Forex trading platforms in South Africa

Forex trading platform is the software acting as the channel for forex trading nz information between the trader and the broker. The platform will give you trading information including charts, price quotes for each pair of currency and so on. It will equally provide you with a series of technical indicators that can be of help when developing your trading strategy. Furthermore, the trading platform comes with an interface via which you can enter trading orders, which will then be executed by your selected broker.

The Best Forex trading platforms in South africa

Deriv

4.5

Demo account Yes

Minimum deposit $50

Minimum Deposit: $50

Review

Open account

Deriv is an offshore broker offering both binary options and standard forex and CFD trading

Binomo

4.9

Demo account Yes

Minimum deposit $10

Minimum Deposit: $10

Review

Open account

Operational since 2014, Binomo may be a CROFR regulated binary broker which offers service packages for all kinds of monetary traders.

Exness

5

Demo account Yes

Minimum deposit $ 150

Minimum deposit: $ 150

Review

Open account

Exness is FSCA & FCA regulated, which are 2 Top Tier regulators, so we consider them to be safe.

Quotex

4.5

Demo account Yes

Minimum deposit $10

Minimum Deposit: $10

Review

Open account

Quotex is a new digital options broker, innovated in 2020. The platform offers dupe trading and request signals.

Olymp Trade

4.6

Demo account Yes

Minimum deposit $30

Minimum Deposit: $30

Review

Open account

Olymp Trade offers its customers a full range of monetary services within an equivalent account.

FXCC

4.9

Demo account Yes

Minimum deposit $250

Minimum Deposit: $250

Review

Open account

Forex Trading with FXCC, a leading regulated and Award winning ECN Forex broker - Start Trading today with our risk-Free Demo account

Markets

4.8

Demo account Yes

Minimum deposit $250

Minimum Deposit: $250

Review

Open account

Markets.com was established in the year 2010, being the best Forex trading company in South Africa the company grew tremendously.

BlackBull Markets

4.5

Demo account Yes

Minimum deposit $250

Minimum Deposit: $250

Review

Open account

BlackBull Markets was founded with the goal of becoming the leading online Financial Technology and Foreign Exchange broker.

Hycm

4.6

Demo account Yes

Minimum deposit $100

Minimum deposit: $100

Review

Open account

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider

plus500

4.2

Demo account Yes

Minimum deposit $250

Minimum Deposit: $250

Review

Open account

Plus500 is a popular CFD trading platform, that is also listed on London Stock Exchange. They are regulated with top-tier regulators including FCA (UK), ASIC (Australia) & CySEC.

coinsraw.com

4.5

Demo account Yes

Minimum deposit $50

Minimum Deposit: $50

Review

Trade Crypto

Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.

Avatrade

4.5

Demo account Yes

Minimum deposit $150

Minimum Deposit: $150

Review

Open account

Ava Trade, established in 2006 and originally referred to as AvaFX, may be a pioneer within the online trading industry.

IQ Option

4.6

Demo account Yes

Minimum deposit $150

Minimum Deposit: $150

Review

Open account

IQ Option was first introduced to the binary options traders across the world back in 2013.

Vantage Fx

4.9

Demo account Yes

Minimum deposit $200

Minimum Deposit: $200

Review

Open account

Vantage Global Prime Pty Ltd, broker Vantage FX became available for binary options trading in 2009.

Easy Markets

4.8

Demo account Yes

Minimum deposit $150

Minimum Deposit: $150

Review

Open account

Easy Markets is an award-winning forex and CFDs trading platform launched in 2001 as the world’s first web-based trading platform.

You can install the forex trading platform on your desktop computer, laptop or even mobile device since they now come with a mobile version. You do not always have to download the trading platform before you can start trading Forex since there is also a web-based trading platform that can be used without downloading. Such web-based platforms can run on Java or HTML. Also, many of the trading platforms available today can run on a various computer and mobile operating systems, like Linux, Mac, Windows Android, and iOS.

The options and features you can find on a Online trading platform depend on the broker offering that platform. The trading platforms can work on any computer, provided there is an internet connection. In most cases, trading platforms are available for free. Those brokers that charge fees for their trading platforms also add extra features and functionalities that are not available on the free versions.

Factors to consider in a trading platform

You should consider the points below before downloading or using a Forex trading platform:

• Is it compatible with an API so that you can also install additional programs or software on the trading platform?
• Can the GUI (Graphic User Interface) permit the monitoring of multiple data or information at once?
• Does the GUI look pleasant and professional
• Does the software give easy access to historical data about each currency pair?
• Check the order interface and also find out about the types of orders that are available
• Is it possible to trade from the charts on the platform?
• Is the trading platform internet-, Mac- or Windows-based? The internet- or web-based trading platform can either use HTML or Java.
• What are the technical indicators available on the trading platform?
• Is the platform free to use? Does the broker charge an additional fee for higher grade platforms? What are the extra features available on that paid version?

Before choosing a trading platforms, you may also want to consider the reliability of the broker offering that platform. You are better off with a regulated broker than an unregulated one.