CFD stands for differences in which an investor can invest his assets from anywhere in the world and trade with different currencies. Here, there is no need to be present physically or pay extra charges for taking the services of brokers like in traditional markets. CFD trading South Africa has provided numerous chances to invest short or long-term investments with flexible range with minimum chances of loss.
Online trading has become popular in South Africa as several competitive and trustable platforms are helping investors to trade with their assets online from any part of the world. Similarly, its demand has been increased in South Africa where it is encouraging people to trade in cryptocurrency, forex, or other currencies with a low risk of loss and short charges.
7 best CFD trading platform South Africa:
A vast variety of CFD trading South Africa has been introduced in which brokers make offers to the investors by using their personal CFD platform or some popular independent CFD trading platform South Africa. You can get access to the best CFD trading platform South Africa to invest your money to be exchanged with other currencies. 7 best CFD platforms in South Africa are:
1. X trade brokers (XTB)
XTB is considered the best CFD trading platform South Africa as it has about 19 years of trust after having its offices in more than ten well-known and developed countries including the UK and Germany. It is the company that makes suitable and attractive offers for new and experienced investors with proper guidance. The features of the company that makes include it in the list of best CFD trading platform South Africa are:
- It does not keep secret policies. It shares its financial statements regularly instead of keeping them a secret that boosts the trust of investors towards it.
- Another interesting thing about this platform is, it ensures the investors about the protection of negative balance.
- The most important feature that makes it more reliable and trustful, it is not only based in a single country but has its branches in other 10 countries with legal registration.
It offers three types of accounts, demo, standard and professional accounts that are for beginners, low range investors, and experienced investors respectively. Demo and standard account holders do not need to pay a fee at all except the spread of the market while professional account holders have to pay a fee over each minimum spread.
2. City index brokers
City Index is a forex and CFD trading platform South Africa to invest your money to play big. The broker was launched in 1983 in London but now it has spread its branches in other countries with remarkable success in the stock exchange, CFD trades, and forex trades as well. City index also have:
Trust of investors as there are no chances of scam as it has built its reputation by sharing the good experience of 35 years with investors and the brokers
- It does not charge too much fee while putting spread for CFD trade.
- City Index provides the best accounts services and withdrawal services without charging the fee.
It offers two types of account, standard account, and VIP account and they both are open free having services of using a debit card for withdrawing.
3. Ava Trade
Ava trades was established in 2006 with respect to doing online trading CFD and Forex and it proved better than some other pre-existing CFD trading platforms. It has offices in four countries but it can be accessed from anywhere in the world due to its five-star services of the best communication and 24/5 working hours.
4. CMC markets
CMC trading platform South Africa opens multiple offers for the millions of traders to work on this platform with ease and more chances of profit by avoiding the loss. It has been the best company in 2020 for forex and CFD trading around the world. As it offers many reliable services by making a personal call and generating Emails, it grabs certain numbers of investors to this platform.
Like other CFD trading platforms in South Africa, it is also offering negative balance protection.
It is a licensed platform that is regulated by FCA, financial conduct authority that ensures the reliability and trust of both customers and business as well.
ActivTrades was established in 2001in the UK but now it is working in different countries of the world that include South Africa as well. An analytical study says that if you are a beginner and want to invest your money in safe hands, you should prefer active Traders making the right decision. ActivTrades provide a platform with numerous traders to promote online trading by
- Keeping the trust of the investors and brokers having fair dealings.
- Maintaining transparent record
- Having live chat by 24/5 hours
- Do not compromise over the investor’s negative balance protection
XM broker platform was established in 2009 but it has secured a strong position among the online trading companies to do CFD trading. Its traders deal in two tiers that are
- Tier-1 jurisdiction and
- Tier-2 jurisdiction
- XM offers trading with minimum deposits of $5 when you want to do CFD trading South Africa. It shows almost similar properties like other CFD platforms show like
- XM.com provides 24/5 trading services with full-fledged legal authority.
- It operates all over the world even in South Africa to do online CFD trading.
EToro is the platform that provides the investors or traders a chance to copy the trade of other traders and deals in both CFD and forex. It has been working for a year but not very long as city index and X trades but it has developed more trust even in a very short period. EToro is the platform that offers the exchange of more than 47 countries with a wide variety of investors and brokers. EToro comes with
- 93 percent trading trust score as it deals in a variety of currency exchanging with cryptocurrency through CFD trading.
- eToro is one of the best CFD trading platforms as it provides multiple brokers and investors bringing them on a common platform for trading online of CFD and Forex with a good value of trust and profit.
eToro is providing zero dollar offers on CFD trading in different countries including South Africa. It reflects, there you do not need to pay for the brokers as in the case of traditional markets you have to do. You are saving and investing maximum.
So, these were some of the top CFD trading platforms to look out for in South Africa.