Forex trading is becoming increasingly popular worldwide, and South Africa is not an exception. Local financial watchdog FSCA doesn’t impose restrictions on trading incentives, and in competition for traders, forex brokers in South Africa are offering more and more lucrative bonuses, promotions and contests. And without any further ado, let’s see five brokers offering attractive campaigns for South African clients.
HF Markets (HotForex) Bonuses
HotForex, which is currently undergoing rebranding to HF Markets, is a leading broker offering bonuses for South African clients. It’s globally regulated, holding licenses issued by FCA (Britain), CySEC (Cyprus), DFSA (Dubai) and FSCA (South Africa). It’s proven safe, and it offers outstanding trading conditions such as 0.0 pips, increased leverage for risk-tolerant traders (available in some jurisdictions only), and a plethora of bonus programmes:
- 50% Welcome Bonus – it’s applied directly to the trading account and is available for Micro Accounts on the MT4 trading platform. To claim the bonus, you need to deposit 50 USD only, and you’ll automatically increase your balance by 50%!
- 100% Supercharged Bonus – as the name suggests, clients can double their balance by accepting the bonus. It’s available for Premium Accounts, and for that reason, clients should deposit not less than 250 USD/3200 ZAR, with a maximum cumulative bonus of 50 000 USD possible. In this programme, clients can also earn daily cash rebates of 2 USD per lot traded, with funds being paid directly into the account. The maximum cumulative rebates can be 8000 USD maximum.
- 30% Rescue Bonus – it’s designed to protect accounts as funds can be received in periods of drawdown and potential losses. Customers with deposits over 50 USD can apply, and the bonus funds effectively increase account leverage. Note that the bonus can be lost but cannot be withdrawn.
- 100% Credit Bonus – another bonus that can double your balance size. It’s required that customers deposit more than 100 USD/1400 ZAR, and the bonus funds can be withdrawn when volume conditions are met. Effectively, the bonus increases leverage, and shifts stop out levels.
In addition to the Deposit bonus campaigns, HF Markets also offer various trading contests, including the Demo Contest. Participation does not require deposits, and all trading activities are carried out with virtual money on Demo training accounts, meaning that there are no monetary risks involved. It’s worth trying!
FBS is a global brokerage with a solid presence in South Africa. It’s multi regulated, holding licenses issued by CySEC, ASIC (Australia), IFSC (Belize) and FSCA. As expected, the brokerage provides excellent trading conditions like zero spreads and leverage of up to 1:3000 (note that such a ratio is not suitable for all investors, so exercise caution if you use it). And of course, there are a lot of promotions, bonuses and contests available for South Africans:
Level Up Bonus – you can get up to $140 bonus funds if you open a Level Up Bonus account in the Web or Mobile Version of FBS Personal Area. You can also receive a $70 free bonus with no obligation to open a specific account type.
100% Deposit Bonus – fund your account and double your balance. The bonus period is unlimited, but note that Terms and Conditions apply, and all provisions are available in the client’s personal area upon registration.
Cashback – you can receive up to $15 for every lot traded as cashback funds. To participate, you only need to tick the Cashback button in your personal area, and you’ll enjoy more affordable trading conditions.
Get a Car from FBS – yes! You can win a brand new vehicle like Mercedes Benz CLS Class, BMW X3 or Range Rover Evoque. Just stay tuned and acquaint yourself with the terms and conditions available upon registration.
Quick Start Bonus – it’s bonus money plus education. To participate, you should open a FREE bonus account with $100 in FBS Trader and go through the 7-step teaching program of the FBS Trader app.
Leverage 1:3000 – it’s available for Standard and Zero Spread accounts only, and if you deposit $10, you can place trades of up to $30000. Note that 1:3000 is really risky, and you should be adequately prepared to execute positions while on 1:3000.
Dreams Come True – a non-deposit promotion with material rewards. Go to the FBS Facebook page, post your dream and what you need to make it happen, tag two friends and hope to be among the shortlisted candidates whose wishes will be fulfilled. For more information about the rewards already given away, visit the FBS page.
Apart from the above mentioned, FBS maintains other contests and regularly announces new promotions and bonus programmes, too, so it’s recommended to stay tuned if you don’t want to miss opportunities suitable for you and your trading style.
XM is a global brokerage regulated in various jurisdictions, including FCA, CySEC, ASIC, FSC and DFSA licenses. It has no FSCA license, but that doesn’t stop them from being one of the most popular brokers in South Africa. As a powerful and very popular brand, they have a lot to offer – both MT4 and MT5 available, a low-deposit requirement of just 5 USD/80 ZAR to open an account, ultra-tight spreads and a lot of bonuses:
$30 NO deposit bonus – 30 USD are instantly credited when you open an account, and all profits can be freely withdrawn – there are no volume requirements. It’s available for new clients only, and note that the 30 USD cannot be withdrawn – only profits can!
50% + 20% deposit bonus – two-tier bonus program, in which you can get 50% credited funds (up to $500) upon deposit plus 20% (up to $4500). Available for deposits of 5 USD only.
Refer a friend – invite people and earn up to $35 per customer. All funds are free to withdraw, but Terms and Conditions apply, so go through all provisions first and see if you are eligible for the bonus.
XM Loyalty Programme – earn XM points and receive special seasonal bonuses throughout the year. Terms and Conditions apply.
XM has other promotional campaigns as well, including Free VPS and Zero fees on deposits/withdrawals, so don’t delay and inform yourself of all the available options the brokerage offers!
FXTM, or ForexTime as it’s also known, is a brokerage with a global presence you should know about if you are a South African trader. The broker is multi regulated, and it holds FCA, CySEC, FSC and FSCA licenses, and just like any self-respected Forex provider, they deliver some of the best trading conditions possible. And promotional campaigns are available, as well:
- Trading Raffle – a trading contest that has already expired, but we expect it to relaunch any time soon. In this programme, $100K are shared among traders, and you can win prizes every week just by trading. Terms and Conditions apply, so register and go through all provisions first.
- Trade Your Way – ten lucky winners are picked every week, and the prize is $1500 per trade selected. All you need to do is trade!
- Refer a Friend – earn $50 for every trader you bring into the FXTM family. You can earn up to $10 000 freely withdrawable funds if you actively use your personalized referral link.
OctaFX is popular in Europe as it holds a CySEC license, but it’s also well-known in Africa. The brokerage has no South African license, but it’s still available in the country, and its trading conditions are among the best. There are bonuses, too:
- 50% Deposit bonus – available for deposits of 50 USD or more. The bonus funds are automatically credited upon request and withdrawable, but there are Terms and Conditions applied, so read carefully before you ask for additional funds.
- Trade and Win Gifts – open positions and earn prize lots (1 lot equals 1 prize lot), then exchange the points for gadgets – laptops, smartphones, smartwatches, power banks etc.
- Champion MT4 Demo Contest – next round starts on the 4th of July 2022, and it doesn’t involve trading with real money, meaning that there are practically no monetary risks involved. The duration of the programme is 4 weeks, and you can earn up to $500 if you win the contest.
As South Africa allows incentives and promotions, there are many opportunities to trade with increased balance. However, note that bonuses carry risks, as funds are not free money but essentially a leverage tool that you should use with caution! Also, there are Terms and Conditions applied for literally all campaigns, and you should read them carefully before actual participation. If you follow those simple rules, you can benefit greatly from all promotions available! Trade responsibly!