5 Best Forex Brokers in South Africa with sign up bonus

A promotion known as a sign-up bonus is made available by some brokers to new customers who open a live trading account with the broker.

New traders are given the opportunity to participate in the Forex market by virtue of
these bonuses, but they need not risk any of their own money to do
so.

However, because not all brokers in South Africa provide new traders with a sign-up bonus,
we have compiled a list of the five finest brokers in the country that do provide new traders with this promotion in addition to providing outstanding trading conditions.

1. IFX Brokers

Overview

Any trader who decides to register an IFX Brokers Standard Account is eligible to get an IFX Sign-Up Bonus.

The welcome bonus consists of a Deposit Bonus worth 50 percent of the player’s initial deposit as well as a Deposit Bonus worth 50 percent of any subsequent deposits, up to the current cumulative maximum bonus amount.

Pros and Cons

Pros High leverage available MetaTrader 4 is supported. Resources for learning are available

Cons Lax regulation

Features

Feature	Information
Regulation	FSA
Minimum deposit from	ZAR100
Average spread from	0,5 pips
Commissions from	NA
Deposit/Withdrawal Fees	NA
Maximum Leverage	1:500
Bonuses	NA
Customer Support	24/5

2. Brokstock

Overview

Brokstock is one of the most renowned Forex brokers. Low fees and an extensive tools list make it popular among beginners and experts.

Everyone who signs up with Brokstock is eligible for R150 bonus credited to their account after they make R2500 deposit.

Pros and Cons

Pros Licensed FSP No deposit and withdrawal commission The best investment app

Cons

Features

Feature	Information
Regulation	Licensed FSP No. 51404
Minimum deposit from	ZAR100
Average spread from	0.7 pips
Commissions from	0
Deposit/Withdrawal Fees	None
Maximum Leverage	1:200
Bonuses	First Deposit Bonus
Customer Support	From 9:30 AM to 6 PM on week days

3. AvaTrade

Overview

AvaTrade’s trading conditions are praised for a number of reasons, including, but not limited to, their transparent and affordable pricing structure, commission-free options, dependable execution speeds, flexible funding options, and attentive customer care.

Pros and Cons

PROS	CONS
Broad range of tradable instruments	High EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

Features

Feature	Information
Regulation	Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from	$100
Average spread from	0.9 pips
Commissions from	No commission on Forex
Deposit/Withdrawal Fees	None
Maximum Leverage	1:400
Bonuses	First Deposit Bonus
Customer Support	24/5 – multilingual

4. Exness

Overview

Trading conditions offered by Exness are among the most competitive available. These conditions include narrow spreads, minimum commissions, high leverage ratios, and a low initial deposit requirement of just $250.

Pros and Cons

PROS	CONS
Well-regulated
Tight spreads
Over 130 currency pairs

Features

Feature	Information
Regulation	CySEC, FCA
Minimum deposit from	$1
Average spread from	1.3 pips
Commissions from	3 USD and 10 USD per 1 lot for CFDs
Deposit/Withdrawal Fees	None
Maximum Leverage	1:2000
Bonuses	Standard +10% Bonus Programme
Customer Support	24/5 – multilingual

5. HF Markets

Overview

HF Markets is distinguished by many features, including competitive trading conditions, a variety of account kinds, robust trading platforms, and a large assortment of financial instruments.

You are eligible for a sign-up bonus from HotForex once you have been validated and have
started a new trading account.

Pros and Cons

Pros No deposit or withdrawal fees Competitive spreads

Cons High commission charges on the Zero account

Features

Feature	Information
Regulation	CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from	$5
Average spread from	0,0 pips
Commissions from	USD 0.03 per 1K lot.
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	100% Supercharged Bonus
Customer Support	24/5

 

Also Read: Who are the best South African Forex Traders?