10 Best Forex Brokers in South Africa that accept Skrill

IFX BrokersFeatures

IFX Brokers is one of the best South African forex brokers that provide traders with a wide range of trading opportunities across several financial markets.

IFX Brokers is based in South Africa and offers traders a choice between trading account types, powerful trading platforms and convenient funding methods such as Neteller, Skrill, Bitcoin, debit cards, credit cards, and other popular deposit and withdrawal methods.

PROS

Well-regulated by the Financial Sector Conduct Authority (FSCA) in South Africa

Provides South African clients with a choice between retail investor accounts

Traders can expect advanced trading platforms and trading tools

Beginner traders are welcome and can expect educational materials and resources

There are powerful trading platforms provided across the web, desktop, and mobile devices

Traders can expect a range of financial instruments across several markets

TickmillFeatures

With offices in the United Kingdom, Cyprus, and Seychelles, Tickmill is an international forex broker that provides some of the most competitive trading conditions in the forex trading industry. Tickmill provides ECN and STP trading solutions across different forex markets along with CFD and stock markets.

Traders can trade major currency pairs, minor currencies, precious metals, and several other tradable instruments through powerful trading platforms. Tickmill offers a choice in retail investor accounts that have negative balance protection, tight spreads, and low commission charges.

PROS

Multi-regulated forex broker with a comprehensive regulatory framework

Negative balance protection is applied to all retail accounts

Commission-free trading is offered

Client funds are segregated and kept in bank accounts with top financial institutions

Offers investor protection through a compensation fund

Offers traders flexible payment methods for deposits and withdrawals

CONS

There are no fixed spread accounts offered

Limited education material offered

United States clients are not accepted

European Union clients can expect restricted maximum leverage ratios

IC MarketsFeatures

IC Markets was established in 2007 and it is one of the largest true ECN international brokers that accept South African traders, regardless of their trading strategy or trading experience. IC Markets offers a choice between CFD and forex markets, ensuring rapid trade execution derived from top liquidity providers.

IC Markets provides popular trading platforms and a range of trading opportunities. In addition, South African traders can also expect a range of funding options with the benefit that deposit fees and withdrawal fees are not charged.

PROS

Well-regulated forex broker with a solid regulatory framework

Institutional-grade liquidity provided from top financial institutions

Inactivity fees are not charged on retail accounts

Accepts all types of traders regardless of their trading strategy or trading style

Offers a wide range of educational tools

Low trading fees and tight spreads

CONS

There are no fixed spread accounts offered

United States clients are not allowed

ExnessFeatures

Exness is one of the best brokers for beginners in South Africa while simultaneously providing advanced trading options to professional traders. Exness has a solid multi-regulatory framework and provides South African traders with the chance to trade international financial markets.

Exness offers a choice between trading accounts, flexible funding options, powerful trading technology, and dedicated and prompt customer service.

PROS

A multi-regulated forex broker that is reputable

High maximum leverage up to 1:2000

Dedicated and multilingual customer support

Low initial deposit requirement

Segregation of client funds guaranteed

Negative balance protection is applied to accounts

CONS

There is a limited selection of instruments offered

United States clients are prohibited from registering a trading account

1MarketFeatures

1Market is a new broker that was recently established but has already made a name for itself in international markets. 1Market is a well-regulated financial service and trading provider that offers foreign currencies, stocks, indices, cryptocurrency trading, and several CFDs for trading online.

Traders are given access to a powerful forex trading platform that can be used across several devices, commission-free trading, and a reliable execution policy.

PROS

Advanced trading platform offered on the web, desktop, and mobile trading

Commissions are not charged when trading forex

Offers a choice between retail investor accounts and financial markets that can be traded

Provides access to Trading Central and proprietary 1nsight Live Feed that offers in-depth views on market conditions and exchange rates

A well-regulated forex broker that supports common methods for deposits and withdrawals

Accepts any type of trader regardless of whether they are professional or beginner forex traders

CONS

US clients are not allowed

A high minimum deposit is required

AvaTradeFeatures

AvaTrade is one of the best market makers and STP online forex brokers in the industry that caters for those who are trading forex and various other financial markets. AvaTrade welcomes South African traders and provides them with a solid regulatory framework through the Financial Sector Conduct Authority (FSCA), and several other market regulators.

AvaTrade offers over 1,250 tradable instruments across several asset classes. South African traders can use third-party applications or opt for AvaTrades proprietary trading platforms. AvaTrade offers comprehensive technical analysis, fundamental analysis, and a plethora of social trading opportunities.

PROS

Strict regulation through multiple regulatory entities and one of the best market makers in the industry

Commission-free forex trading offered on retail investor accounts

Social trading platforms are provided in addition to a powerful proprietary trading platform

Offers a choice of markets and automated forex trading software

Decent choice in funding options offered

Withdrawal fees and deposit fees are not charged

CONS

Managed accounts not offered

Social trading is not supported

QuickTradeFeatures

QuickTrade is a South African forex and CFD trading broker that provides traders access to a range of currency pairs, exchange-traded funds (ETFs), stocks, and several other financial markets.

QuickTrade is a well-regulated broker and financial services provider in South Africa, providing a safe, fair, and transparent trading environment to all beginner and professional traders.

PROS

Well-regulated by the Financial Sector Conduct Authority (FSCA)

QuickTrade is a verified broker that ensures client fund security by keeping it in segregated bank accounts with top financial institutions

ZAR deposit currencies offered to South African clients

Trading Room provided after registration

Trusted funding options offered

MetaTrader supported on the web, desktop, and through mobile apps

CONS

There is only one trading account offered

ZAR is the only base currency available

Limited financial instruments offered

Negative balance protection is not offered

XMFeatures

XM Group has been in operation for more than a decade and it has grown to become one of the leading online brokers in the industry that welcomes South African forex traders. More than 2.5 million traders have registered a retail investor account with XM Group, benefitting from the brokers competitive pricing and flexible solutions.

XM Group is a broker for beginners and professional traders who need the best possible pricing, innovative trading solutions, in-depth market analysis, and a wide range of trading tools and flexible funding options including bank wire transfer, card payment, and several others.

PROS

Multi-award-winning international broker suited to beginner and institutional traders

Low spreads, low commissions, and zero fees charged on deposits or withdrawals

Offers a choice between powerful web, desktop, and mobile platforms

Negative balance protection is applied to all retail accounts

Multi-lingual and dedicated customer services offered

Accepts any type of trading strategy and style

CONS

There are no fixed spread accounts offered

US clients are not allowed

Inactivity fees are charged on dormant accounts

FXTMFeatures

FXTM is a United Kingdom, Cyprus, Mauritius, and South African-based ECN and STP online trading broker that has been in operation since 2011. FXTM has won several industry awards for various achievements from best trading experience to best investment broker, most innovative broker, and several others.

FXTM has more than a million registered accounts and accepts both beginner and experienced traders despite their trading experience. FXTM offers leading trading conditions alongside a variety of trading tools, educational materials, and convenient deposit methods and withdrawal options.

PROS

Offers a choice between retail trading accounts

Traders can choose from over 250 financial instruments

Well-regulated across the globe

Offers advanced trading tools

There is a large selection of education material offered

Commission-free trading with tight spreads and reliable execution speeds

CONS

There is an inactivity fee charged on dormant accounts

US clients are not accepted

AdmiralsFeatures

Established in 2001, Admirals has grown to become a leading online trading provider in the past two decades. Admirals accepts traders from most regions despite whether they are novice traders or professional investors.

Admirals offers flexible account types that feature tight spreads, fast execution, and multiple funding options.

PROS

Regulated in several regions by trusted market regulators

High level of trustworthiness

Offers premium trading analytics

Offers a wide range of markets spread across over 4,000 CFDs on foreign currencies, precious metals, exchange-traded funds, and more

A low minimum deposit is required when South Africans register a trading account

Offers advanced trading tools

CONS

An inactivity fee is charged

No US clients