10 Best NASDAQ-100 Forex Brokers in South Africa
The NASDAQ 100 is a modified market capitalization-weighted stock index that contains 100 of the largest non-financial companies that are listed on the NASDAQ stock exchange, and
neither of these relates to the NASDAQ Composite Index and should therefore not be confused with one another.
NASDAQ trading requires that traders use both fundamental analysis and technical analysis that will help them determine price levels and the perfect opportunity to enter the market.
Below we discuss the 10 best NASDAQ-100 forex brokers in South Africa.
IFX Brokers
Features
Founded in 2018, IFX Brokers is a South African-based broker that operates according to an ECN execution model, offering commission-free trading to both beginner and professional traders.
IFX Brokers offers a wide range of tradable instruments that can be traded through the powerful MetaTrader trading platforms. IFX Brokers offers competitive variable spreads that are marked-up to include the broker fees.
Traders are given access to trade different forex pairs that include major currencies, minors and exotics, indices, metals, futures, and more.
Pros and Cons
| PROS |
MetaTrader 4 and 5 supported |
Competitive trading conditions offered |
Educational materials are provided |
Traders can use a range of advanced trading tools |
Several asset classes can be traded |
Commission-free trading offered |
ThinkMarkets
Features
ThinkMarkets is a multi-regulated STP online trading broker that was founded in 2010, with offices based in Australia, the United Kingdom, and South Africa with the corresponding regulation in each jurisdiction to offer competitive trading conditions.
ThinkMarkets offers traders and investors some of the best trading conditions in the industry, offering the trade in the stock market as well as several market indexes including NASDAQ. ThinkMarkets is known for using innovative trading technologies and advanced trading platforms that can be used across several devices, providing investors and traders with a competitive edge to their trading.
Pros and Cons
| PROS |
|
Strict regulation |
|
Commission-free trading is offered |
|
VPS service provided |
|
Islamic Account option and demo account provided |
|
Competitive trading conditions offered |
CONS |
No US Clients |
Leverage restricted for EU clients |
Fixed spread accounts are not offered |
Axi
Features
Axi is one of the popular forex brokers and technology companies that offers trade across several financial markets, major indices, currency markets, and more. Axi also offers a choice between investor accounts, flexible funding options, NASDAQ CFD trading, equity market trading, and more.
As a well-regulated online trading broker, Axi prides itself in offering comprehensive trading solutions that cater for both beginner and professional traders and investors. Axi is a large broker according to a market capitalization that sees millions in daily trading volume.
With Axi, traders can use a range of trading styles and strategies including hedging, scalping, algorithmic trading, margin trading, and more.
Pros and Cons
| PROS |
|
Well-regulated broker |
|
Commission-free trading offered |
|
MetaTrader NextGen offered |
|
Access granted to AutoChartist and PsyQuation |
CONS |
US Clients are not allowed |
Fixed spread accounts are not offered |
Restricted leverage for EU clients |
OctaFX
Features
Established in 2011, OctaFX is a multi-asset broker in addition to being a comprehensive NASDAQ broker that welcomes South African traders. OctaFX is known for offering a wide range of individual stocks, currency pairs, electronic trading, and comprehensive trading through desktop, web, and mobile trading platforms.
OctaFX offers competitive trading conditions that consist of commission-free options, competitive and tight spreads, and access to advanced analysis tools and indicators.
While OctaFX is popular for trading CFDs, it also offers educational tools and resources, technical studies, and other tools that will help traders define their investment portfolios so that it is in line with their unique investment objective.
Pros and Cons
| PROS |
|
Well-regulated broker |
|
Commission-free trading is offered |
|
Fixed spread accounts are offered |
|
Negative balance protection is offered |
|
Hedging and scalping allowed |
| CONS |
US Clients not allowed |
Limited tradable financial instruments offered |
Exness
Features
Established in 2008, Exness has a long and rich history as one of the best South African brokers in the industry, providing retail and professional traders with comprehensive trading solutions across several financial markets, including major indices, exchange-traded funds, mutual funds, forex pairs, and more.
Exness is also known for advanced trading solutions that cater specifically for experienced traders, including an economic calendar that represents economic data releases, social trading opportunities, trading ideas, a comprehensive guide to forex trading, integrated trading signals, and more.
Pros and Cons
PROS |
Strict regulation |
High leverage ratios offered |
Various trading platforms supported |
Variety of financial instruments that can be traded |
Competitive trading conditions offered |
Islamic accounts offered |
CONS |
US Clients not allowed |
FP Markets
Features
Established in 2005 and based in Australia, FP Markets is a reputable ECN, STP, and DMA forex trading broker. FP Markets offers more than 10,000 financial instruments that can be traded across several financial markets including cryptocurrencies, CFDs, stocks, forex, and more.
FP Markets has an award-winning history as a reliable forex broker that not only takes care of its clients’ needs but tries to provide them with all the tools necessary to gain more experience in competitive, complex financial markets.
Pros and Cons
| PROS |
|
Strict regulation |
|
Wide range of tradable financial instruments |
|
Commission-free trading offered |
CONS |
US Clients not allowed |
Fixed spreads not offered |
FXTM
Features
FXTM is one of the most popular online trading brokers in South Africa that has regulation and authorisation with several entities. FXTM offers ultra-low minimum deposits, a choice in retail trading accounts, and competitive trading conditions.
Traders have access to more than 250 financial instruments that can be traded in a safe, fair, and transparent trading environment. FXTM provides powerful trading platforms that can be used across several devices including the web, desktop, and mobile trading.
In addition, beginner and experienced traders can choose between different account types, each offering unique features and functions that cater to the specific trading needs and objectives of each South African trader.
Pros and Cons
| PROS |
|
Well-regulated by reputable market regulators |
|
Variety of account types to choose from |
|
Some trading accounts are commission-free |
|
The minimum deposit is lower than that of other brokers |
| CONS |
US Clients not allowed |
Restricted leverage of 1:30 for EU-clients |
AvaTrade
Features
As a multi-asset, multi-regulated, and multi-award-winning broker AvaTrade is one of the best options for NASDAQ trading. AvaTrade was established in 2006 and it is one of the most trustworthy market makers in addition to being an STP broker.
AvaTrade offers South African traders unique and flexible trading solutions, a wide range of tradable markets including stock indexes, individual stocks, stock CFDs, currency pairs, cryptocurrencies, options, and more.
Traders can expect competitively low spreads, fast execution on trades, flexible funding options, and excellent 24/5 multilingual customer support.
Pros and Cons
| PROS |
|
Multi-asset and multi-regulated trading broker |
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An award-winning and reputable broker |
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Fast trade execution guaranteed |
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Caters for beginners and professional traders |
|
Social trading offered |
| CONS |
US Clients not allowed |
Variable spread not offered |
Only one account for retail and professionals |
XM
Features
Established in 2009, XM is one of the best South African brokers that cater for beginner and professional traders across a wide range of investment objectives and trading needs. XM offers some of the lowest spreads, competitive trading commissions and a choice between retail investor accounts.
XM offers a wide range of financial instruments that can be traded through powerful trading platforms using different trading strategies. XM offers flexible funding options including bank transfer, credit card, debit card, and various electronic payment gateways.
Pros and Cons
| PROS |
|
Strict regulation through multiple regulatory entities |
|
Negative balance protection applied to retail investor accounts |
|
Competitive trading conditions provided |
|
Variety of account types offered |
| CONS |
No US Clients |
No fixed spread accounts |
Plus500
Features
Established in 2008, Plus500 is another popular broker that caters for South African traders and provides a wide range of financial instruments that can be traded. Plus500 is a popular and trusted ECN and STP broker that offers the use of its proprietary trading platform through which trading can be done.
The benefit that Plus500 offers includes competitive trading conditions in addition to commission-free trading, 24/7 customer support and flexible, convenient funding options.
Pros and Cons
| PROS |
|
Multi-regulated broker |
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More than 2,000 financial instruments can be traded |
|
Competitive trading conditions with tight spreads offered |
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Offers a high maximum leverage |
|
24/7 multilingual customer service available |
CONS |
Restricted amount of payment methods supported |
Only one account option offered |
MetaTrader is not supported |
FREQUENTLY ASKED QUESTIONS
What is the difference between the NASDAQ Composite and NASDAQ 100?
The NASDAQ Composite index covers the stocks that are listed on the NASDAQ stock exchange while the NASDAQ 100 contains the top 100 non-financial companies according to their market capitalization.
Why is the NASDAQ 100 important to traders?
It consists of the largest and most actively traded companies that are publicly listed on the NASDAQ stock exchange, it provides a benchmark index for the United States technology stocks, and it also includes companies that operate in the retail, industrial, biotechnology and health sectors.
What time does NASDAQ open for trading in South Africa?
The NASDAQ stock exchange trades from 3:30 pm and 10:00 pm South African Standard time. Some brokers allow traders the opportunity to trade outside of normal market hours.
Can I trade NASDAQ 100 in South Africa?
Yes, you can trade the NASDAQ 100 as a contract for difference (CFD) instrument through a regulated broker that accepts South African traders.
How do I check if a broker that offers NASDAQ CFDs is regulated in South Africa?
You can visit the official website of the FSCA and search the name of the broker to view their regulatory status in South Africa.