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.
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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 MetaTrader 4 is Resources for
|
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 |
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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 |
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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 |
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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 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 |
-
FXCM
Overview
The competitive prices offered by FXCM are made possible by the company’s extensive
network of relationships with the industry’s best liquidity providers. When they sign up for an account with FXCM for the first time, traders are eligible for a $300 bonus.
Pros and Cons
|
Pros Excellent Low minimum deposit Advanced research Excellent customer support |
Cons No Web Trader option Rudimentary mobile Limited product portfolio |
Features
|
Feature |
Information |
|
Regulation |
FCA, ASIC, ACPR, FSP |
|
Minimum deposit from |
$50 |
|
Average spread from |
1.3 pips |
|
Commissions from |
£4 per standard round-turn lot (£2 |
|
Deposit/Withdrawal Fees |
None |
|
Maximum Leverage |
1:400 |
|
Bonuses |
$20 Welcome Bonus |
|
Customer Support |
24/5 |
Also Read: Who are the best South African Forex Traders?
