South Africa’s regulator in the financial market is FSCA, or financial sector conduct authority. It is considered one of the most reliable and trustworthy regulatory bodies across the globe, which ensures that every customer and retail trader's interest is protected and treated fairly. FSCA guarantees that all forex brokers work according to the financial commitments and protects the hard-earned money of clients.
3 FSCA Regulated Forex Brokers
South African forex trading is regulated by FSCA, which informs critical information about forex brokers to retail traders. The main aim of FSCA is to promote reliability and integrity in the financial market of South Africa and make it stronger. This includes providing them with high-risk alerts and making them cautious.
AvaTrade
One of the most famous online forex brokers is AvaTrade which provides a wide selection of tradable financial instruments, multi-asset platforms, and different trading conditions. AvaTrade helps professional traders and ordinary traders choose dynamic accounts and paves the way for new traders by offering them training resources significantly. AvaTrade provides a withdrawal and deposit facility through bank transfers in ZAR. However, the option of ZAR account base currency option is not provided. AvaTrade offers limited leverage to retail traders (30:1) and professional traders (400:1). The average spread of AvaTrade EURUSD is 0.9. It is a well-regulated forex broker across the globe.
Pros of AvaTrade
Exness
Exness is a CFD broker that includes multi-regulation in forex trading. This forex broker provides professional and new traders with many trading opportunities. There are different features available such as strong trading platforms, educational sources, retail investor accounts, and trading to old. Exness offers MT4 and MT trading platforms and a variety of instruments such as 100+ CFDs instruments and 107currency pairs. It offers USD, EUR base currency along with a ZAR account. Exness offers competitive average speed and fees with a standard account. However, they don’t have good customer support as it takes certain days to get a customer response.
Pros of using Exness
HotForex
Hotforex is another online trading broker that FSCA properly regulates. It is recommended especially because it has minimum non-trading and trading costs. It provides a wide range of trading accounts, insured client money, and accessibility to advanced trading platforms. It is used by both experienced and novice investors/traders. It requires a minimum deposit of excellent customer support that helps forex traders access retail investment accounts and earn a considerable amount of cash.
Pros
$5 or ZAR 70 is the minimum low deposit required for opening a live trading account in HotForex. It supports quick customer service that can be availed through 24*7 emails and 24/5 chat.
AvaTrade is a forex broker based in South Africa, and we hold the reputation of CFD broker, and FSCA properly regulates us. We offer dedicated customer support along with competitive conditions. We support both professional and beginner investors and offers sophisticated features
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