When trading currencies, it is essential to consider various things, among them the availability of safe and reliable-brokers. For such cooperation, you should go for regulated-brokers as they are recognized by the regulatory-authorities of the state.
Such brokers have proven that they can meet the standards of business relationships that are introduced in this country. Amateur traders should initially look at such companies when determining a Forex-broker. But there are many broker`s corporations on such outlets and it is difficult to find the most trustworthy ones. To make it easier for them, miscellaneous ratings of regulated-brokers in South Africa are compiled. Let’s take a closer look at the most commonly recommended companies that are regulated by the FSCA.
List of FSCA-regulated-brokers
The FSCA is a specially created body in South Africa that restrains the financial-services in the countryside. Thanks to this organization, there are special rules and prerequisites that forex-brokers must comply with. Its representatives also conduct inspections to detect illegal activities on the part of vendors.
Regulated-brokers have been checked by this organization. Accordingly, such companies are positioned as reliable partners and all traders can do business with them. As proof of passing such an inspection, brokers receive a license from this organization and then they will be able to accomplish their activities.
To date, the following regulated-brokers are the most prominent in South Africa:
- Exness;
- Tickmill;
- FxPro;
- HMF;
- FBS;
- Ava Trade;
- FXCM;
- FXTM;
- Markets.com;
- IG.
Each of these brokers has its benefits and weaknesses, but in general, you can work with any of the above organizations.
Exness
This corporation is enlisted in Seychelles and has been providing its services on the market for 15 years. In addition to a permission in South Africa, representatives of this legal entity have permits for conditioning from the regulatory-authorities of Cyprus, Seychelles, and Great Britain.
This vendor is considered to be one of the leaders on Forex. Through an average month, they close a large number of transactions with a total turnover of almost 326 billion dollars. To date, they provide the ability to conduct exchange transactions between 120 currency-pairs, with cryptocurrency and even precious metals. Their service provides high influence and a demo-account for newbies to learn.
Tickmill
Also a highly-rated-broker, but it mainly focuses on innovative trades. So for those who are willing to invest in the development of potentially breakthrough companies, work with them. For users, there are great opportunities for passive trading and working with minimal-spreads.
This company has many awards from Forex, including the titles of the best execution-broker and the most transparent vendor.
FxPro
This company has been in the market for almost 20 years and has approvals in 4 countrysides:
- Cyprus;
- Bahamas;
- SOUTH AFRICA;
- Great Britain.
Today the company cooperates with traders from 170 countries in the world and conducts operations with 70 currency-pairs. In addition, they have more than 85 awards in various states as the best-quality trading-platforms. Apart from money, they also accomplish transactions with futures and shares of legal entities. The representatives of this company offer high security of clients’ assets because they keep all the funds used for trading in well-known international banks. In addition, they do not overlap with the broker’s capital, and the client’s money is covered by insurance contracts.
HFM (HotForex)
HFM is a broker owned by HF-Markets Group, offers a wide variety of arrangement kinds, and has the widest selection of trading assets and high-quality software. HFM is also characterized by favorable trading-conditions and instant execution of orders. In addition, a solid list of mechanisms and services allows everyone to choose the best option. The reliability of the broker is confirmed by the license of several regulators. The company’s experience in the market of financial, brokerage, and other assistance is more than 10 years. During this time HFM has received 35 prestigious awards.
FBS
This broker has been active in 190 countries for 10 years of its existence and has licenses from South Africa and Seychelles. One of the advantages of the broker is flexible conditions and offering not only currency-pairs but also trading-indices, futures, and precious metals. This vendor is predominantly popular among Asian users. But in the South African market, it has a stable position.
AvaTrade
The Irish company has been on the market for almost 20 years and has headquarters in 10 countrysides. Today more than 300 thousand traders cooperate with it and 2 million dealings are processed monthly. This broker has several-licenses and accreditations, conducts transactions with many currencies, and safeness, and gives access to the cryptocurrency-market. In total, they are ready to offer consumers 1200 ways of trading. Because of such a wide degree, they have gathered a large audience of traders and continue to expand.
FXCM
This company has British and South African licenses but is registered in Bermuda. Today, it is ready to offer many currency pairs for trading and expand its audience. It is considered one of the most stable on the market because as a legal-entity, it was established almost a quarter of a century ago. It has a positive reputation and several awards in the nominations of the best user support.
FXTM
This broker has been on the market since 2011 and during this time has reached high positions in the ratings. The company provides an opportunity to earn money thanks to trading and investment programs. Today it has licenses from the controllers of Cyprus, South Africa, Great Britain, and Mauritius. As a broker has received repeated awards as the most innovative representative of the market.
Today, more than 3 million traders work with this company. What users like most of all is that trades can be started with as little as $10.
Markets.com.
The company has been on the market for more than 15 years and is considered one of the most reliable brokers. Today, they provide usefulness to users from dissimilar parts of the planet. It is possible to earn through 2200 dissimilar instruments, both in trading and investment-activities.
IG
This broker is also licensed to function in South Africa and allows you to work with 6 base currencies as well as conduct forex transactions with options. But from this platform users are a little discouraged by the minimum-deposit prerequisites of 140 dollars.
Who can help you choose a broker
Choosing the right broker in the market is extremely difficult. Our company is ready to provide you with the necessary advice and help you choose regulated-brokers for active work. With our help, you will miss any offers from potential fraudsters and will be able to earn in trading and investment activity with reliable bookmakers.