South African Brokers that Accept Neteller
As the popularity of forex trading continues to surge, there is a need for brokers to support diverse payment systems for account funding. This ensures that a wide range of different people are accommodated regardless of the payment system they use. In South Africa, Neteller is a payment option that is gaining some popularity among traders. Neteller is a preferred choice for many traders due to its speed, security, and ease of use.
In this review, we will look at some of the best forex brokers that accept Neteller in South Africa. In particular, we will look at the company regulations, collection of trading instruments, the trading platform available, and the spreads offered by the broker.
Forex Brokers that Accept Neteller in South Africa
Here is a list of some of the South African Forex and CFD brokers that support deposits and withdrawals via Neteller
Exness is one of the most prominent forex brokers in South Africa that accepts Neteller. This broker supports a variety of payment systems to ensure that it accommodates most traders. With Neteller, traders can make a minimum deposit of $10 and a maximum of $50,000 per transaction. After making a deposit, traders can invest in a variety of global markets.
In total, Exness gives traders access to over 200 different market instruments. Specifically, clients can trade CFDs on forex, commodities, indices, and stocks. This means that traders can invest in more than one market without leaving the broker site. The trading platforms provided by the broker include MetaTrader 4, MetaTrader 5, Exness Terminal, and Exness Trade App.
Further, the spreads here are manageable and there are different structures that traders can choose from. There are five different trading accounts with two standard and three professional accounts. The standard and the standard cent account both have spreads as low as 0.3 pips with no commission. The zero account features spreads from 0.0 pips with a commission of $0.2 upwards. In contrast, the raw spread account has spreads as low as 0.0 pips and a commission of $3.50 per side per lot. Finally, the pro account has spreads from 0.1 pips with no commission paid.
Onto the regulations. Luckily for South African traders, this broker is under the regulation of the FSCA in South Africa. On top of that, it is also regulated by the CMA in Kenya, the FCA in the UK, and the CySEC in Cyprus.
Pepperstone has regulations in a variety of jurisdictions. These include the CMA in Kenya, the CySEC in Cyprus, the ASIC in Australia, and the FCA in the UK, among others. This regulatory status is one of the reasons why this broker is popular among South African traders and around the world.
Pepperstone supports a variety of payment systems for clients to use. The broker allows traders to fund their accounts using Neteller, PayPal, Visa, MasterCard, Bank Transfers, MPesa, and others. There is no minimum deposit requirement meaning that traders can make a deposit of any amount they have. After making a deposit, clients gain access to a plethora of market products.
With the Pepperstone trading site, traders have access to over 1,200 different products. These include CFDs on forex, currency indices, shares, commodities, indices, and ETFs. The ability to diversify one’s portfolio on a single broker site is always a welcomed feature. Moreover, this broker provides some of the best trading platforms which include MetaTrader 4, MetaTrader 5, TradingView, and cTrader.
The spreads that traders enjoy depend on the account they choose to use. The standard account comes with spreads from as low as 1.0 pips with no commissions paid. On the other hand, the razor account has spreads from 0.0 pips plus a commission depending on the platform used. Traders using the MetaTrader platforms and TradingView pay a commission of $3.5 per side per lot. On the other hand, traders using cTrader pay a commission of $3 per side per lot.
FP Markets is yet another top choice for South African traders who want to use Neteller to fund their accounts. This broker supports Neteller alongside a plethora of other payment systems. Moreover, this broker is regulated in South Africa by the FSCA. Elsewhere, it has regulations by the ASIC in Australia and the CySEC in Cyprus, two of the best regulators in the market.
Once a trader makes a deposit, they gain access to over 10,000 different trading instruments. Specifically, this broker avails forex alongside CFDs on shares, metals, commodities, indices, ETFs, bonds, and cryptocurrencies. This deep collection of market products is available on industry-standard platforms that include MetaTrader 4, MetaTrader 5, cTrader, and Iress.
Further, the spreads on this broker site are competitively low and affordable for most traders. The standard account provided has spreads from as low as 1.0 pips for major currency pairs without commissions. In contrast, the raw account has even lower spreads from 0.0 pips plus a commission of $3 per side per lot.
XTB also allows its traders to fund their accounts using Neteller as a payment system. Like Pepperstone, this broker does not have a minimum deposit requirement. This is ideal and attractive to many South African traders. Moreover, this broker is regulated by the FSCA in South Africa alongside other regulations. Some of the other notable regulations include the FCA and the CySEC, two of the most stringent organizations in the market.
On the XTB trading platform, traders gain access to over 5,500 market assets. These include CFDs on forex, commodities, stocks, indices, ETFs, and cryptocurrencies. The only trading platforms available are those produced by XTB’s in-house team which include xStation 5 and xStation mobile. These platforms have advanced functionality built into an intuitive user interface.
Finally, the spreads on the XTB trading platform are competitively low. The standard account availed by XTB charges spreads from as low as 0.5 pips for major currency pairs with no commissions charged on CFDs.
Trading Forex and CFDs entail risk.
Your capital is at risk.
Libertex is another broker that accepts South African traders and supports account funding via Neteller. The minimum deposit on this broker site is a mere $10. Note that Neteller is not the only payment option. People can also use PayPal, Bank Cards, and Bank Transfers, among others.
Positively, Libertex gives traders exposure to a variety of global markets. Some of the markets available to invest in on this broker site include forex, cryptocurrencies, stocks, oil and gas, metals, and ETFs. These markets are accessible on two main trading platforms which include MetaTrader 4 and MetaTrader 5. Further, the broker has some of the lowest spreads that start from as low as 1.0 pips for major currencies.
This broker has regulations from various institutions around the world. These include the FSC in Mauritius and the SVGFSA, among others.
AvaTrade allows its traders to access a total of over 1,000 different trading instruments. The broker avails CFDs on forex, commodities, metals, bonds, indices, ETFs, equities, and cryptocurrencies. These market products are available on three main trading platforms which include MetaTrader 4, MetaTrader 5, and AvaTradeGO. As such, we can say that this broker has diversity in most of its features.
This diversity is also seen in the payment options the broker supports. Clients can fund their accounts using Neteller, bank wire transfers, credit/debit cards, PayPal, and more. The minimum deposit supported by this broker sits at $100.
Onto the spreads involved, this broker offers low spreads that start from as low as 0.9 pips for major currency pairs. This is attractive for most South African traders. These traders will also be pleased to know that AvaTrader has regulations in South Africa by the FSCA, in Cyprus by the CySEC, and in Poland by the KNF, among others.
Trading Forex and CFDs entail risk.
Your capital is at risk.
Tickmill supports a variety of payment systems which include Neteller, WebMoney SticPay, Skrill, and more. The minimum deposit traders can make on this broker site is $100. After making the deposit, traders gain exposure to a variety of markets. These include forex, commodities, stock indices, bonds, stocks, and cryptocurrencies. The trading platforms available to use include MetaTrader 4, MetaTrader 5, and mobile apps.
Notably, this broker features low spreads on its various accounts. The classic account has spreads from 1.6 pips for major currencies with no commission. On the other hand, the pro account features spreads as low as 0.0 pips with a small commission of 2 currency units per side per 100,000 traded. Finally, the VIP account has spreads that start from 0.0 pips with a commission of 1 currency unit per side per 100,000 traded.
Positively, Tickmill operates in South Africa under the authorization and regulation of the FSCA. It is also regulated by the CySEC, the ASIC, and the FCA. These are stellar regulatory organizations and this helps in boosting the reputation of Tickmill.
Key Advantages of Using Neteller
The availability of Neteller as a payment option adds a layer of convenience and accessibility for South African traders. The brokers we featured in this review support Neteller and offer great services to their clients.
They offer diverse trading instruments, competitive spreads, and have regulatory oversight. Additionally, they have advanced trading platforms available ensuring a secure and comprehensive trading experience. Nonetheless, this is not an exhaustive list. We understand that every trader has their own needs and preferences. As such, we call upon everyone to do their own research to find the best forex broker that accepts Neteller.
Neteller’s key advantages include enhanced security measures, swift transaction processing, widespread acceptance, and global accessibility. This makes it a preferred choice for traders seeking a reliable and efficient payment solution. Ultimately, the combination of reputable brokers and the convenience of Neteller give traders a seamless trading experience.