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If you are in the trading business, you know that currency matters. Having to convert your deposits and withdrawals can be frustrating and lead to unnecessary expenses if you are dealing with different currencies.
That is why South African traders should always consider forex brokers with ZAR accounts.
10 Forex Brokers with ZAR Accounts Outshining the Competition
While there are many forex brokers with ZAR accounts offering their services, there are some that are just a step above the rest.
XM
XM is the best option for beginners in the world of trading. Their low fees, educational and research tools, and easy-to-navigate trading app make them ideal for those who want to learn more about trading. Furthermore, the platform offers top-notch trading instruments and attractive deals.
HFM
HFM is a successful international broker. In recent years, they have expanded their presence in South Africa quite impressively. Since HFM offers free fees on deposits and withdrawals made at local banks, it is a great option for South African traders.
AvaTrade
There are several reasons why this broker is an appealing option for South African traders. First, they offer competitive trading rates. Next, they have an impressive array of trading tools available, and then there is also the added bonus of providing four platforms for trading. AvaTrade is a phenomenal option.
Admirals
This outstanding broker has enjoyed worldwide recognition because of their exceptional trading environment. Due to Admirals’ increasing popularity in South Africa in recent years, the broker received an FSCA licence in 2022.
Khwezi Trade
When it comes to exceptional customer service, Khwezi is ahead of the game. In fact, the broker is well-known for its incredible dedication to traders. In addition to first-class customer service, the broker provides very low depositing costs and quick trading transactions.
Markets.com
This globally successful platform has only one drawback, and that is that it is limited when it comes to its live accounts. The platform provides only a single live account. However, Markets.com makes up for that with exceptional account perks and bonuses. In addition, they have an impressive range of trading tools.
IG
IG has grown in popularity worldwide thanks to its exceptionally low fees and wide selection of trading tools. Beginners and advanced traders alike can consider IG.
Exness
This internationally successful broker offers incredible advantages but also a drawback that might be a dealbreaker for some traders. On the plus side, the platform offers sensationally low trading costs and fantastic trading instruments. However, Exness doesn’t offer FSCA protection.
FxPro
While this broker offers attractive benefits, including a good range of trading platforms, it has one big issue for South African traders. Even though the broker is well-regulated, South African traders might have limited legal rights if there is ever a dispute.
Tickmill
This broker’s complex navigational system makes it a better choice for traders with experience or beginners who take trading seriously. The broker offers great benefits, including competitively low trading costs and exceptional support. However, similar to FxPro, South African traders might have limited legal rights in disputes.
Conclusion
By choosing an outstanding forex broker that provides services in ZAR, you know your money is handled in the correct currency, your deposits and withdrawals will most likely be made quickly, and they’ll be fee-free.
