ECN Brokers South Africa

Forex traders in South Africa looking to minimise brokerage choose ECN brokers with a true ECN account having no dealing desk resulting in the lowest EUR/USD spreads, reduced slippage with faster STP execution speeds reduced conflict of interest from an ECN forex broker.

Compare the top ECN brokers in South Africa below.

By Justin Grossbard / Updated: Monday, February 17th, 2020

Curency Movements Image

ECn Forex Brokers in South AfricaOur team of industry experts at Compare Forex Brokers evaluated the top 5 Best ECN Forex Brokers in South Africa 2020 with no dealing desk NDD intervention:

  • Pepperstone – Best Forex Trading Platforms
  • IC Markets – The Lowest EUR/USD Spreads
  • FxPro – The Best WebTrader Platform
  • FXTM – The Highest ECN Trading Leverage
  • IG Markets – The Largest ECN Foreign Exchange Broker

Broker Reviewed

Pepperstone
IC Markets
FxPro
FXTM
IG
Our Rating
9.17
8.17
7.46
6
6.67
Most Awarded Broker
Best Spread Broker
Trading from single account
High leverage
Widest choice of markets for trade

Regulations and Licenses

Feature
Pepperstone
IC Markets
FxPro
FXTM
IG
ASIC (Australia)
FCA (UK)
FSCA (South Africa)
Pending

Brokerage

Feature
Pepperstone
IC Markets
FxPro
FXTM
IG
No Commission Account Spreads From (EUR/USD):
1.0
1.0
1.4
1.3 (Standard)
0.6
Commission Account Spreads From (EUR/USD):
0.0
0.0
0.37
0.1 (ECN)
Commission (per 100k traded side trip)
AUD $3.50
USD $3.50
USD$0.45 (cTrader)
USD$2.00
Minimum Deposit
$200
USD $200
$500 Recommended
USD$500
$0
Volume Commission Rebates
Has Islamic Account
No Inactivity Fees
Funding Methods
16
15
4
13
4
No Deposit/Withdrawal Fees

Markets and Instruments

Feature
Pepperstone
IC Markets
FxPro
FXTM
IG
Forex Currency Pairs CFDs
66+
65+
70+
59+
80+
Cryptocurrency CFDs
4+
10+
4+
5+
Index CFDs
2+
16+
24+
11+
34+
Share CFDs
5+
100+
150+
180+
12000+
Commodities CFD
4+
19+
10+
3+
38+
Stockbroking
10+
Retail Maximum Leverage
500:1
500:1
30:1
1000:1
200:1
Professional Maximum Leverage
500:1
500:1
500:1
500:1
200:1

Trading Platforms + Tools

Feature
Pepperstone
IC Markets
FxPro
FXTM
IG
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automatic / Robot Trading
Social + Copy Trading
Investment account only
MetaTrader 4 onliy
Standard Stop Loss
Guaranteed Stop Loss Order
Guaranteed Negative Balance Protection
ESMA regulated territories only
ESMA regulated territories only
ESMA regulated territories only
ESMA regulated territories only
ESMA regulated territories only
Demo Account
Unique Feature 1
Smart Trader Tools
ECN pricing
1,300,000 client accounts
Floating leverage
Guaranteed stop loss orders
Unique Feature 2
Fast Execution Speed
Range of fee free funding options
Avg execution time <11.06 ms
Range of account types
Range of platforms

Overall


Pepperstone Has The Best Forex Trading Platforms

Pepperstone is among the best ECN forex brokers in South Africa to give clients direct market access (DMA) without dealing desk intervention. Pepperstone ECN environment can be accessed through the broker’s trading platforms, including:

  • MetaTrader 4 (MT4)Pepperstone vs FXCM
  • MetaTrader 5 (MT5)
  • cTrader

Below you can review a short comparison of the three powerful trading platforms and their main features:

Pepperstone Has The Best Forex Trading Platforms

South African traders can combine the benefits that come with the ECN brokers and STP brokers into one trading account.  Retail clients can choose between two account types offered by Pepperstone (Standard and Razor accounts). Below you can discover why Pepperstone ECN trading platform is the best forex brokers for spreads and ultra-fast order execution.

ECN Brokers

Pepperstone display price from a diverse pool of liquidity providers transparently through the use of Electronic Communications Network ECNs. Pepperstone sources and aggregates its Forex quotes from over 22 liquidity providers and tier-one banks.

STP Brokers

Additionally to being one of the best ECN brokers operating in South Africa, Pepperstone operates a no dealing desk model NDD. No dealing desk brokers send the orders directly to the liquidity providers without hedging. The Straight Through Processing STP forex brokers come with the following advantages:ECN Forex Broker in South Africa

  • Real-time market prices
  • Direct Market Access DMA
  • No re-quotes
  • No mark-ups (retail traders will only pay the interbank spread)
  • Anonymity

MetaTrader 4 Trading Platform with 30ms Speed

The automated ECN solution offered by Pepperstone allows buy and sell orders to be matched with lightning-fast execution speed. Pepperstone clients can be assured that their orders are processed in less than 30 milliseconds. Trading forex and CFDs with no requotes or delays are now possible for South African residents if they open a live trading account with Pepperstone.

Forex Trading Tools

best ECN brokers operating in South AfricaThe trading software technology offered by Pepperstone is designed to give retail forex traders an edge. Comparable with the most advanced proprietary trading platforms on the Forex market, SA retail traders can benefit from using a host of trading tools, including:

  • Customizable interface
  • Flexible order types
  • Smart Trader Tools Package (28 additional indicators and EAs)
  • Automated trading (Expert Advisors)
  • Autochartist alerts integrated with the MetaTrader trading platform
  • Hedging capabilities
  • Depth of Market

Summary of Pepperstone Findings

Pepperstone easy-to-use ECN trading environment is accessible with a minimum deposit of $200 (or equivalent in South African Rand). The STP/ECN trading model offered by Pepperstone is equipped with the best forex trading platforms which can unleash the untapped potential of your trading strategy. You’re just one click away from reserving your Pepperstone demo account which mimics the same trading conditions that come with a live trading account. Start trading with the best ECN forex brokers regulated by ASIC and FCA by clicking the button below.

Open a demo account >>Visit Pepperstone >>


Our Rating

The overall rating is based on review by our experts

9.17
Spreads
10 / 10
Leverage
10 / 10
Trading Platform
10 / 10
Risk Management
7 / 10
Range of Markets
8 / 10
Customer Service
10 / 10

ECN Forex Broker FAQs

A true ECN (Electronic Communications Network) broker is a type of forex broker that connects its clients directly to the interbank market through its liquidity providers. A true ECN broker operates under the No Dealing Desk NDD execution model without manual intervention from a dealer.

Pepperstone is a true ECN broker because it connects its clients to over 22 different liquidity providers via its own proprietary aggregation engine. Pepperstone acts as the middleman between its retail clients and the interbank market. Pepperstone is fully transparent about its ECN trading model and its total devotion to using No Dealing Desk NDD intervention.

Unlike a market maker which charges a spread to make money, the ECN broker charges a commission. The advantage of paying a commission is that there is no dealer’s marked-up spread. Retail traders will receive the interbank spread without mark-ups.

Dealing Desk vs No Dealing Desk Forex Brokers

There are various types of brokerage houses in the world, but broadly speaking, there are only two forex broker types:

  • Dealing Desk DD
  • No Dealing Desk NDD

A dealing desk broker is also known as a market maker or in the Forex jargon is also known as a bucket shop. As the name suggests, a dealing desk broker acts as a market maker and feeds you the forex quotes retail traders trade on. With the DD execution model, the broker will act as the counterpart of all your trades. This implies a conflict of interest as the forex broker will make a profit each time you lose on your trades.

Forex Broker Types

The no dealing desk execution model is the solution to avoid trading against your broker. The ECN brokers are a type of no dealing desk brokers that will give retail traders direct access to the foreign exchange market. With the ECN execution model, your orders will be forwarded automatically to the interbank market. All forex orders are matched against various liquidity providers LP, eliminating the conflict of interest between the broker and the trader.

Our team of industry experts viewed the top 3 advantages of a true ECN broker as:

  • No spread manipulation (no markups or markdown)
  • Reduced slippage (due to a wide network of liquidity providers)
  • No requotes (you will often get the most favourable price available)

Risk Warning: Additionally to the inherent high risk that comes to Forex trading, the total costs that come with an ECN account can be high. Make sure you choose an ECN broker with competitive fees and commissions. If you’re looking internationally, view our Global best ECN broker page.

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