Forex Trading Course for Beginners South Africa

South African Top Beginner Forex Trading Platforms 2022

Novice South African traders should select a regulated forex broker that offers training, risk protection, and a forex trading platform suitable for beginners. Based on these criteria, the top beginner forex brokers in South Africa were compared.

View our best forex trading platforms for beginners: South Africa below.

Written by

Justin Grossbard

Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.

Updated:

What Changed?

Each month we update average spreads data published by the brokers the retail brokers lose %


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South African Top Beginner Forex Trading Platforms

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Best Forex Trading Platform For Beginners South Africa

Here are our top recommended trading platforms for beginner traders in South Africa:


74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider

71% of retail investor accounts lose money when trading CFDs with this provider

75.5% of retail investor accounts lose money when trading CFDs with this provider

68% of retail investor accounts lose money when trading CFDs with this provider.

77% of retail CFD accounts lose money

Regulations and Licenses

Brokerage

EUR/USD Avg. Raw Spread

0.17

0.3

0.1

GBP/USD Avg. Raw Spread

0.59

0.4

AUD/USD Avg. Raw Spread

0.24

0.5

EUR/USD Standard Spread

0.75

0.90

3.00

EUR/USD Fixed Spreads

0.90

Commissions (USD Base)

$3.50

$3.50

Minimum Deposit

$0

$100

$0

$200

$100

Funding Methods

16+

7+

6+

11+

3+

Markets and Instruments

Currency Pairs

62+

55+

46+

49+

71+

Cryptocurrency CFDs*

12+

15+

21+

46+

15+

Index CFDs

14+

33+

21+

13+

67+

Share CFDs

300+

625+

1200+

2000+

1816+

Commodities CFD

9+

30+

15+

33+

22+

Stockbroking

2000+

Retail Max Leverage (Australia)

Major Pairs 30:1

Minor Pairs 20:1

Major Pairs 30:1

Minor Pairs 20:1

Major Pairs 30:1

Minor Pairs 20:1

Major Pairs 30:1

Minor Pairs 20:1

Major Pairs 30:1

Minor Pairs 20:1

Pro. Max Leverage (Australia)

500:1

400:1

500:1

400:1

300:1

Retail Max. Leverage (South Africa)

Major Pairs 30:1

Minor Pairs 20:1

Pro. Max. Leverage (South Africa)

400:1

500:1

Retail Max. Leverage (With offshore regulators)

200:1

400:1

500:1

400:1

300:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Unique Feature

Smart Trader Tools

Choice of social trading tools

STP Order Execution

CopyTrader functionality

for automated trading

Trade cannabis index

Overall

Our Rating

9.17

8.33

7.67

7.17

5.83


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Forex Trading Course for Beginners South Africa

Source: https://www.compareforexbrokers.com/za/best-forex-trading-platform-for-beginners/

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