25 March 2022

5 Best Forex Trading Platforms in South Africa

Submitted by Linda Janse Van Vuuren

Overview 

With the upsurge of popularity in Forex trading in South Africa a great number of Forex brokers have entered the market, offering a variety of trading features and platforms.

Forex trading platforms are an important consideration when selecting a broker, and in this article we explore the 5 best options when choosing a regulated and competitive broker that offers the most advanced platform options to South Africa traders.

1. IFX Brokers 

IFX Brokers is a leading South Africa broker which offers clients access to the full MetaTrader suite from MetaQuotes, consisting of MT4 and MT5.

MT4 is a user-friendly platform with an interface that can be tailored to meet a variety of preferences.

A combination of functionality, lightness, ease of use, and a customizable user interface has made MetaTrader 4 a household name. The platform is simple to use, with only a few panels, buttons, or pieces of information that are truly necessary.

MT5 is a cutting-edge technology for online traders that can do just about anything. It is compatible with a wide range of popular instruments. The platform is ideal for customers who want to build a variety of portfolios.

2. Markets.com

Markets.com is a popular Forex broker which gives traders access to its proprietary Marketsx platform.

The web-based Marketsx platform can be accessed from anywhere with an internet connection. In spite of its simplicity, the user interface provides comprehensive charting and technical analysis features.

An array of technical indicators is also included with the platform to aid with chart interpretation. 

3. Pepperstone

Many other MetaTrader forex brokers don't offer the same competitive advantage for South African traders as Pepperstone.

Beginner traders can take advantage of the broker's wealth of free resources, including trading platform lessons and webinars. As opposed to other brokers, Pepperstone provides unfettered free access to educational resources.

4. IC Markets

Leading Forex broker IC Markets provides traders with access to the advanced cTrader platform.

For ultra-fast order execution, IC Markets' cTrader servers are hosted or collocated in the same data centre (LD5 IBX Equinix Data Centre in London) as the tier one liquidity providers and key aggregators.

The web-based cTrader provides the same enhanced trading experience as the cTrader desktop version. The ability to trade from anywhere in the world is the key benefit of the web trader version.

Because ECN forex brokers like IC Markets do not have dealing desks, they can provide lower trading expenses than traditional DD forex brokers (such as higher spreads, commissions, and slippage). 

5. Plus500 

Listed on the London Stock Exchange, Pluss500 is a UK-based online forex and stock trading company with their own proprietary Forex trading platform. To suit the needs of aggressive traders, Plus500 developed its own customized trading platform.

Plus500’s financial offerings encompass more than 2,000 Forex and CFD instruments. As such, access to a wide range of marketplaces and assets can give SA traders more trading options to earn money.

Additionally, Plus500 offers more than 90 ETF instruments, as well as highly favourable ETF trading conditions due to the fact that the broker has slashed their trading fees to zero.