Best Forex Trading Platforms For South Africa Traders

Forex traders require a suitable international or South African forex broker that has a range of currency pairs, low CFDs brokerage and the best forex trading platform. The three most popular forex platforms are MetaTrader 4, MetaTrader 5 and cTrader.

View the forex broker comparison below the forex trading platform they offer.

By Justin Grossbard / Updated: Thursday, January 23rd, 2020

Forex Trading Platforms In South Africa

Best Forex Broker For Each FX Platform

The following forex brokers were considered the best FSCA regulated SA forex brokers for each of the following forex platforms:

Broker Reviewed

Pepperstone
eToro
Plus500
FxPro
Interactive Brokers
Our Rating
9.17
7.17
5.83
5.46
5.45
71.4% of retail CFD accounts lose money
62% of retail CFD accounts lose money
76.4% of retail CFD accounts lose money
77% of retail CFD accounts lose money
69% of retail CFD accounts lose money

Regulations and Licenses

Feature
Pepperstone
eToro
Plus500
FxPro
Interactive Brokers
ASIC (Australia)
FCA (UK)

Brokerage

Feature
Pepperstone
eToro
Plus500
FxPro
Interactive Brokers
No Commission Account Spreads From (EUR/USD):
1.0
3.0
0.6
1.4
Commission Account Spreads From (EUR/USD):
0.0
0.10
0.1
Commission (per 100k traded side trip)
GBP £2.295 Side Trip (MetaTrader)
USD$0.45 (cTrader)
USD $1mil = 0.20% (IBKR)
Minimum Deposit
GBP £200
USD $200
$0
USD $100
$0
Volume Commission Rebates
Has Islamic Account
No Inactivity Fees
Funding Methods
3
6
3
4
4
No Deposit/Withdrawal Fees

Markets and Instruments

Feature
Pepperstone
eToro
Plus500
FxPro
Interactive Brokers
Forex Currency Pairs CFDs
61+
47+
60+
70+
115+
Cryptocurrency CFDs
5+
98+
14+
Index CFDs
14+
13+
67+
24+
26+
Share CFDs
60+
2000+
1816+
150+
1000+
Commodities CFD
15+
12+
17+
10+
Stockbroking
2000+
2000+
Retail Maximum Leverage
30:1
30:1
30:1
30:1
14:1
Professional Maximum Leverage
500:1
400:1
300:1
500:1

Trading Platforms + Tools

Feature
Pepperstone
eToro
Plus500
FxPro
Interactive Brokers
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automatic / Robot Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss Order
Guaranteed Negative Balance Protection
Demo Account
Unique Feature 1
Commission rebates for active traders
CopyTrader functionality for automated trading
Trade cannabis index and share CFDs
1,300,000 client accounts
125 Markets, 31 Countries, 22 Currencies
Unique Feature 2
Award Winning Customer Support
Social trading interface across CFDs
Guaranteed stop loss trading option
Choice of CFD or Spreads Betting
Earn interest on idle cash balances automatically

Overall

Pepperstone Best MetaTrader Forex Broker

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Our team of experts at Compare Forex Brokers is devoted to providing South African residents with:

  • The best recommendations for best forex trading platform South Africa
  • Industry-leading process for ranking the best MetaTrader forex brokers in South Africa

Our Forex Brokers Review Process discovered that Pepperstone is the best forex broker with:

  • MetaTrader 4 platform
  • and MetaTrader 5 platform

Best MetaTrader 4 Broker in South AfricaHeadquartered in Australia and ASIC approved forex and CFD FX broker, Pepperstone has a solidified presence among retail and professional SA traders. Forex broker Pepperstone is also in the process of obtaining its FSCA regulation adding an extra level of protection and a safe trading environment.

Pepperstone MetaTrader trading platforms are designed to give South African traders a competitive edge that can’t be found with other MetaTrader forex trading brokers.

Our review team investigated meticulously all MetaTrader South African forex brokers and the trading technology provided by Pepperstone offers 3 advantages. Find below the 3 main advantages and benefits that come with Pepperstone MetaTrader trading platforms.

1)Autochartist Software

Pepperstone Autochartist alerts can be used directly from the MetaTrader trading platform and this powerful market-scanning tool includes the following features:

Pepperstone South Africa FX broker

  • Market scanner: identifies key support and resistance levels
  • Probability filters: detect how currency pairs move to key market events
  • Risk management tools: risk calculator will help you stay within your risk limits
  • Technical indicators: automatically detects your favourite chart patterns
  • Volatility Analysis: predicts the market volatility
  • Daily market reports: allows online trading directly from your email

2) Running two instances of the MetaTrader 4 platform

A unique feature offered by Pepperstone is the ability to run two instances of the MT4 platform at the same time and on the same device. By default, most forex brokers only allow you to run one instance of the MT4 terminal.

South Africa MetaTrader Forex broker

3) Lightning-fast order execution speedPepperstone SA Traders

Pepperstone offers a high-tech online trading solution that can provide ultra-fast and reliable order execution. Besides having lightning speed, Pepperstone’s market execution model has no-requotes or delays.

You can also start trading on the foreign exchange market benefiting from competitive spreads and maximum leverage of 500:1.

Online Trading with Pepperstone MT5

MetaTrader 5 is the advanced version of MetaTrader 4, which offers an impressive array of new trading features, including:South African Forex Broker MetaTrader 5

  • More forex and CFDs instruments
  • Advanced technical tools
  • Improved connectivity to the market

Pepperstone clients can have a smooth transition between the MT4 and MT5 trading platforms. There is a combination of factors that makes MetaTrader 4 forex brokers to be still preferred among South African forex traders. These MetaTrader4 advantages include:

  • Easy-to-use forex trading platforms
  • Robustness
  • Expert Advisors (EAs) for automated trading

The huge advantage of using MetaTrader4 is that its programming language has been adopted by many forex traders. You can read the full Pepperstone MT4 vs MT5 Comparison and Review for a detailed view of the most popular forex trading platforms.

 Open a demo account >>Visit Pepperstone >>


Our Rating

The overall rating is based on review by our experts

8.83
Spreads
10 / 10
Leverage
10 / 10
Trading Platform
10 / 10
Risk Management
6 / 10
Range of Markets
7 / 10
Customer Service
10 / 10

FAQ South Africa Forex Platforms

The best forex trading platform available for South African traders is the industry’s favourite trading platform MetaTrader 5. South African traders using the MT5 platform can enjoy advanced trading tools and a vast array of order types and risk management tools.

The best forex trading platform for beginners is the state of the art MetaTrader 4 trading platform. With a cutting-edge and user-friendly interface, MetaTrader 4 is developed to cater to the needs of South African novice traders that are just getting started trading the foreign exchange market.

Multi-asset class trading platform cTrader remains the best CFD trading platform among South African traders. cTrader trading platform allows for faster order execution and direct access to the market through Electronic and Communication Networks ECNs.

Risk Disclosure  and Disclaimer:

Our team of experts at Compare Forex Brokers understands that trading leveraged products such as Forex currencies and CFDs margin trading carries a high risk of losing. The high degree of leverage associated with complex instruments is not suitable for all investors as the risk of losing money increases exponentially when leverage is involved.

Currency traders need to inform themselves of how CFDs work and how to implement proper risk management strategies. This will keep investors away from the potential and unnecessary risks associated with trading complex instruments. Choosing a broker for your investing needs starts with knowing your priorities and then using a broker comparison service just like the one our team of industry experts provides here at Compare Forex Brokers.

Our team of industry experts at Compare Forex Brokers has compiled for SA traders a list of top forex brokers that operate and offers their services to South African residents here: South Africa Forex Trading Brokers.

It’s essential, for retail Forex traders to sharpen their trading skills. By opening a demo account with your preferred forex broker you can practise with virtual money without risking any of your hard-earned money. Please make sure you use our links to sign up for a Forex account with your preferred FX broker. If you open a Forex account by using our links you can have access to exclusive offers, such as commission-free trading, monetary joining bonuses, and many other advantages.

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