HERE IS A LIST OF FOREX BROKERS THAT LET YOU START WITH WHATEVER AMOUNT YOU WANT
Best Forex Brokers With No Minimum Deposit
Forex brokers offering no minimum deposit accounts are attractive to all types of traders as it means you can start trading with real money with whatever amount you desire. This feature is particually appreciated by South African traders who are not able to acquire large sums for investment and still want it to give their best try to trading. Moreover, traders that are new to the financial market can invest in small amounts to minimize risk as they gather experience.
In this review, we are going to look at some of the best brokers with no minimum deposit requirements in South Africa. As usual, we are going to look at the brokers’ regulations from reputable organizations, trading platforms, fees charged, and the variety of trading instruments the broker provides.
Best Forex Brokers With No Minimum Deposit
Pepperstone
Trading Forex and CFDs entail risk.
Your capital is at risk.
Pepperstone is one of the brokers in South Africa that has no minimum deposit requirements. With no fixed minimum deposit amount, traders can invest with any amount they want. It's important for traders to take into account their financial situation and trading experience when choosing the amount to invest.
There are two accounts to choose from when trading with Pepperstone. These include the standard and razor accounts. The standard account has spreads as low as 1.0 pips on major currencies with no commission. On the other hand, the razor account has spreads as low as 0.0 pips with a small commission of $3.50 per lot per side.
Regulations play a big part when deciding which broker to trade with and Pepperstone does not disappoint. While not regulated by the FSCA, the broker is regulated by several reputable organizations in the market. These include the CMA in Kenya, the CySEC in Cyprus, the FCA in the UK, the ASIC in Australia, and the BaFin in Germany.
Finally, Pepperstone traders have access to a wide range of trading instruments. Traders can invest in 1,200+ CFDs on forex, shares, indices, commodities, cryptocurrencies, ETFs, and stocks. These instruments are available on a variety of market standard platforms offered by Pepperstone including MT4, MT5, TradingView, and cTrader. These trading platforms give Pepperstone some of the fastest order execution with most orders executed in less than 60 milliseconds for South African traders.
XTB
Trading Forex and CFDs entail risk.
Your capital is at risk.
XTB tries to make life easier for small first-time investors who do not have significant funds to invest. It does this by having no minimum deposit requirement. This means you can open a real account and start trading after making a deposit with whatever amount you have. Notably, XTB has a wide range of trading instruments for clients to invest in. These include CFDs on forex, commodities, cryptocurrencies, indices, equities, and ETFs. With such a variety, South African traders can spread their risk and potentially increase returns.
Further, XTB offers competitive pricing when trading. Spreads on the Standard account are as low as 0.5 pips for major currency pairs with no commission. On the Swap Free account, the spreads start slightly higher at 0.7 pips with no commission. Further, XTB provides clients with its in-house-built platforms that include xStation 5 and Xstation Mobile which is available for mobile users on both Android and iOs.
Lastly, XTB has licenses and regulations from several reputable organizations in the market. They include the FSCA in South Africa, the CySEC in Cyprus, the FCA in the UK, and the KNF in Poland. On top of being regulated by the FSCA, this broker is also regulated by other reputable organizations which helps with its reputation.
Axi
Trading Forex and CFDs entail risk.
Your capital is at risk.
Axi also does not have a minimum deposit requirement. South African traders can deposit and start their trading on a variety of trading instruments offered by Axi. The markets available on this trading platform include forex, shares, indices, commodities, and cryptocurrencies. Traders can diversify their investments across various markets.
Additionally, AXI provides a trading platform that is easy to use for both novice and seasoned traders. Axi combines the world's most popular platform, the MT4, with exclusive Axi tools and analytics. Further, Axi offers three accounts to choose from which include the Standard, Pro, and Elite accounts. The three accounts have different pricing with the standard having spreads as low as 0.4 pips for major currency pairs with no commission. In contrast, the Pro and Elite have spreads as low as 0.0 pips for major currency pairs with commissions of *$7 and $3.5 per round trip respectively.
Finally, Axi is regulated by several reputable organizations including the CySEC in Cyprus, the ASIC in Australia, and the FCA in the UK. Regulations alone are never enough. However, the licenses this broker holds are from top-tier organizations and it has a long history in the market with no major legal issues.
Fusion Markets
Trading Forex and CFDs entail risk.
Your capital is at risk.
Fusion Markets is another broker that has no minimum deposit and accepts South African traders. Fusion Markets believes in making new traders feel comfortable when starting with their investments. Even though Fusion Market is not regulated in south africa the broker still has regulations from one reputable organization. The broker has regulations from the ASIC in Australia which is one of the top regulators in the market.
There are two accounts South African traders can access with no hidden fees and low spreads. They include the Zero account and the Classic account. The spreads on the Zero account are as low as 0.0 pips for major currency pairs with a small commission of AUD 4.50. In comparison, the Classic account has spreads that start from 0.4 pips for major currency pairs with zero commission.
Additionally, Fusion Markets offers South African traders a variety of markets to invest in. The markets available range from forex, energy, precious metals, equity indices, and commodities, to shares. With this kind of diversity, it's no surprise why Fusion Markets is highly regarded by traders. Moreover, the company has some of the best market standard platforms to choose from. The trading platforms are easy to use for both advanced and beginner traders. The platforms available include MetaTrader 4 and 5 which have some of the fastest order execution speeds.
ThinkMarkets
Trading Forex and CFDs entail risk.
Your capital is at risk.
ThinkMarkets also does not have a minimum deposit requirement. While the company is not regulated in South Africa, it still has regulations from several reputable organizations around the world. The company has regulations from the CySEC in Cyprus which is one of the biggest regulators in Europe and the world. The broker also has regulations from the FCA in the UK and the ASIC in Australia.
The trading platforms offered by ThinkMarkets include MetaTrader 4, MetaTrader 5, ThinkCopy, and ThinkTrader. The MetaTrader platforms are globally used and have advanced features to help traders that include charting and automation tools.
ThinkMarkets also stands out with its wide variety of trading instruments. Traders can choose to invest in various global markets that include forex, indices, cryptocurrencies, precious metals, commodities, and shares. The charges for trading these products are market standard and competitive depending on the account a user is on.
The Standard account has spreads as low as 0.4 pips for major currency pairs with zero commission. Contrarily, the Thinkzero account has spread as low as 0.0 pips for major currency pairs with a small commission of $3.5 per side. Note that the standard account has no minimum deposit compared to the ThinkZero account which has a minimum deposit of $500.
CMC Markets
Trading Forex and CFDs entail risk.
Your capital is at risk.
The next forex and CFD broker that offers no minimum deposit ato South African traders is CMC Markets. The broker has licenses and regulations from well-known regulators in the market. It is regulated by the FCA in the UK and the Bafin in Germany. Brokers with regulations from reputable organizations are normally safer than unregulated ones or those with regulations in jurisdictions with relaxed laws.
Traders on CMC Markets can access various trading instruments to invest in. They include CFDs on
Forex, indices, cryptocurrencies, commodities, shares, share baskets, and treasuries. MetaTrader 4 is the only platform provided for clients to place orders on the various market products.
Finally, CMC Markets offers some of the tightest spreads in the market. The spreads can go as low as 0.7 pips for major currency pairs. Many South African brokers may not offer spreads that are this competitive making CMC Markets compete well with other brokers.
We have gone through some of the best brokers that have no minimum deposit requirement in South Africa. Since this is not the full coverage of brokers we advise traders to do their own research and choose the best broker that will suit their needs. Note that most of the brokers on this list do not have regulations in South Africa. However, we only included brokers that have reputable regulations from other world-class organizations. As these brokers accept South African traders, most investors from the country would find their services attractive. Moreover, XTB is available and does hold a license from the FSCA.