The trading market of South Africa is volatile, and trading in it requires an extensive set of skills. It’s just not skills that have the potential to earn you higher revenue, you also need to have a reliable, and authentic trading platform that can guide you towards the successful career of trading.
Choosing the right trading platforms South Africa can be a little time-consuming, and difficult especially for novice traders. Today, we’re going to talk about some of the most popular trading platforms South Africa through which you can earn both, skills, and money.
Best South African Trading Platforms
There are many trading platforms in South Africa, out of which the best ones are specified below.
More Recommended Platforms for Trading
Forex time is considered the best trading platform South Africa among many South African traders. Forex Time offers some of the best benefits to its potential traders due to which it is the best trading platform South Africa. The benefits that Forex Time offers are:
Offers you the opportunity to learn
Through the Forex Time trading platform, you get an opportunity to learn and grow. With its free demo account, you can learn all about the fundamentals of trading which can be beneficial for you in the later run.
In addition to this, you get step-by-step tutorials and weekly articles about the latest trend in the volatile market of South Africa. Beginners are also able to learn about how to trade through their professional, and user-friendly webinars and local seminars. Thus, Forex Time is the best day trading platform for beginners South Africa.
Advanced Trading Instruments
Forex Time trading platform has some of the advanced trading instruments through which you’re able to access global markets. Some of the professional trading instruments include currency pairs, CFD on commodities, cryptocurrencies, Spot metals, and stocks
Different ways to withdraw and deposit
Forex Time trading platform offers some of the most convenient methods through which you can either withdraw or deposit cash in your Forex Time trading account. You can deposit money via credit, and deposit card, and even PayPal.
Forex Time trading platform is fully regulated by the Financial Services Commission (FSC). This means the transactions that are done are risk-free, and always monitored up to the top level.
XM trading platform is another best trading platform South Africa. It has gained immense popularity among the South African traders due to the following reasons:
Easy to access
XM is one of the very few South African trading platforms which you can easily access from your mobile, tablet, and PC. This is a plus point for the novice South African traders who want to quickly rise up in the South African forex market.
The XM trading platform is not just limited to South Africa, it is recognized worldwide. It has clients from around 200 countries. This means that this is one of the highly trusted trading platforms South Africa.
The professional staff of XM speaks over 30 different languages, and hence, it is one of the very few multilingual trading platforms South Africa. By trading through XM, the barrier of language is completely removed.
With XM, you don’t have to pay a hefty amount to get started. You only need $5 as a minimum deposit fee. This means that this platform offers comparatively low-risk trading. Hence, this platform is considered ideal for novice South African traders.
Best Market research
The professionals of XM have immense experience in the trading market of South Africa. They are familiar with the unpredictable market and offer their clients some of the most profitable investing tips.
With XM, you can also do online day trading by following their professional market research. Hence, it is considered the best day trading platform for beginners South Africa.
Passfolio is another best trading platform South Africa. The benefits that this platform offers to its clients are:
No commission when opening an account
By creating an account, and joining Passfoilio, you don’t have to pay any initial fees. This is suitable for beginners who want to save every penny.
No maintenance fees
Moreover, traders don’t have to pay any maintenance fees required by the platform. This means that this is one of the most cost-effective trading platforms South Africa.
Best Customer Service
As mentioned earlier, the forex trading market of South Africa is volatile, therefore, many traders especially beginners have a hard time figuring out the initial steps about how can they trade successfully.
Passfolio gives all relevant answers through live chat, phone, and email that give clients an opportunity to clear their doubts, and earn higher revenue.
Easy to setup
Through Passfoilio you can get started in less than 15 minutes. In addition to this, the account opening is fully digital.
Velocity trade is known as the best day trading platform. It offers some of the most amazing benefits. They are:
Can access Global Markets any time
Velocity Trade provides its clients with 24-hour access to global markets.
Regulated under multiple jurisdictions
The platform is not only regulated by FSC, it is also regulated by ASX, TMX, FCA, IIROC, AFM, FSCA, and ASIC. This means through Velocity Trade South African traders can day trade worldwide, particularly beginners safe and secure. Hence, it is considered the best day trading platform for beginners South Africa.
The platform offers very low spreads. This means that traders can earn a higher revenue without giving too much to the platform.
Questrade is popularly known as the best day trading platform for beginners South Africa. This platform has several benefits, out of which the most effective ones are listed below.
No annual RRSP
Through Questrade, you don’t have to pay any annual RRSP, or TFSA account fees. This means that less spending and more earning.
The platform also offers a Dual-Currency account. This means that you don’t have to trade without any forced conversion fees. This also allows you to earn higher revenue.
The above-specified are some of the most popular trading platforms South Africa. Through these platforms, you’ll be able to become a pro in trading.