9 Best Forex Brokers with 1:500 Leverage in South Africa
Leverage is a useful tool that allows traders to open larger trading positions despite their minimum deposits or their trading account balance. South African traders who want to increase
their chances of profit often seek reputable brokers who offer standard accounts with competitive spreads and higher leverage ratios as part of a trading strategy that allows them to increase their profit margin.
Some brokers are restricted from offering high leverage because of the risks involved, requiring that traders pay a higher initial deposit to ensure that they can meet the margin
requirements.
However, the following nine forex brokers offer higher leverage ratios of up 1:500 to South African forex traders.
IFX Brokers
Features
IFX Brokers is one of the most reputable South African forex and CFD brokers with corresponding regulation through the Financial Service Conduct Authority (FSCA) to provide financial
products and services in South Africa.
IFX Brokers offers a wide range of educational materials and advanced trading tools, a fair and safe trading environment, a range of funding options, and educational materials. IFX Brokers also offers competitive trading conditions that consist of variable spreads, and more.
Pros and Cons
| PROS |
|
Well-regulated |
| MetaTrader 4 offered broker |
|
Educational resources provided |
|
A range of useful trading tools offered |
|
A wide range of tradable financial instruments offered |
GV Markets
Features
GV Markets is South African forex and CFD trading provider that is well-regulated and overseen by the reputable Financial Services Conduct Authority (FSCA), one of the strictest market
regulators in the world.
GV Markets is known for providing competitive trading conditions that consist of a wide range of financial markets, powerful trading platforms, advanced charting capabilities, innovative analysis tools, and more.
Pros and Cons
PROS |
FSCA-regulated broker based in South Africa |
Commission-free trading offered |
Trusted and flexible funding options offered |
MetaTrader 5 supported |
High maximum leverage ratio provided |
Negative balance protection applied to accounts |
| CONS |
| Limited funding options |
| Withdrawal fee charged |
| Limited retail account options |
| Lack of education and research tools |
Alpari
Features
Established in 1998, Alpari is a well-regulated and renowned ECN and STP broker that has over 2 million registered traders from more than 150 countries. Alpari has extended experience in providing some of the most comprehensive trading solutions to both retail traders and institutional investors.
Alpari is headquartered in Mauritius with offices located in Russia, Nigeria, and Saint Vincent and the Grenadines. Alpari provides retail traders access to a wide selection of tradable instruments spread across different forex currency pairs, and CFD trading instruments that can be traded through powerful trading platforms, including mobile trading apps on smartphones.
Alpari is also known for offering fast and reliable trade execution, competitive variable spreads, and innovative trading technology. With Alpari, traders have a choice between different retail investor accounts, each with dynamic and unique trading conditions.
Alpari welcomes a wide range of trading styles and trading strategies and offers trading tools that help with fundamental analysis, technical analysis, and more. Traders also have the benefit of demo accounts, Islamic accounts, and more when they deal with Alpari.
Pros and Cons
| PROS |
|
Well-regulated |
|
MetaTrader 4 and MetaTrader 5 offered |
|
PAMM Accounts |
|
Customer support in over 30 languages |
CONS |
No USA, Japan, Russia, and several other clients allowed |
Limited trading instruments |
Fixed spread accounts not offered |
Axi
Features
Axi is a multi-regulated STP and ECN online trading broker that is headquartered in the United Kingdom and Australia. Axi is award-winning and is renowned for its commission-free trading accounts, social trading, forex and CFD trading opportunities, and powerful trading tools.
Axi offers competitive trading conditions that consist of tight and variable spreads, low and competitive commissions on retail investor accounts, and a wide range of tradable financial instruments. In addition, traders can also expect access to negative balance protection, powerful trading software, and high leverage ratios up to 1:500.
Pros and Cons
PROS |
User-friendly trading solutions |
Commission-free trading |
Social trading offered |
Educational materials provided |
Zero deposit and withdrawal fees |
Powerful trading tools |
| CONS |
|
No US clients |
|
Restricted leverage for EU clients |
Pepperstone
Features
Pepperstone has been in operation for more than a decade and it offers traders competitive trading conditions and some of the most flexible trading solutions. Pepperstone is one of the largest forex brokers in the industry that caters for traders from more than 65 worldwide countries.
Pepperstone connects traders to different financial markets through its flexible trading accounts, powerful trading platforms, and various innovative trading technologies. With Pepperstone, traders can expect a plethora of social trading opportunities, a choice between different retail accounts, a selection of trading tools, tight variable spreads, and competitive commission charges.
Pros and Cons
| PROS |
|
Well-regulated and award-winning broker |
|
Low spreads, competitive commissions, and fast trade execution speeds |
|
Wide range of retail investor accounts to choose from |
|
Decent selection of trading tools and educational materials |
|
Social trading opportunities provided |
CONS |
Fixed spread accounts not provided |
Tickmill
Features
Tickmill was founded in 2015 and the past few years the forex broker has worked ceaselessly to establish itself as one of the best online trading brokers in South Africa. Tickmill is well-regulated by the Financial Sector Conduct Authority (FSCA).
Tickmill offers a wide range of financial instruments that can be traded, including forex pairs, commodities, shares, CFDs, and several others. Tickmill offers unique trading solutions to retail and professional traders and supports the use of different trading strategies.
Tickmill also offers traders advanced trading tools, market analysis, technical analysis, fundamental analysis, and mobile trading capabilities through powerful trading platforms.
Pros and Cons
| PROS |
| Negative balance protection offered |
| AutoChartist, VPS, and FIX API offered |
| Well-regulated broker |
| Member of an investor compensation fund |
| Range of advanced trading tools offered |
| CONS |
|
Fixed spreads are not offered |
ThinkMarkets
Features
ThinkMarkets has been in operation since 2010 and it is one of the largest, leading online CFD and forex trading brokers in the world, operating across 180 worldwide countries. ThinkMarkets offers a wide range of tradeable financial instruments that are spread across different financial markets including major currencies, minor and exotic forex pairs, indices, shares, and CFD trading.
Traders can expect some of the best and most competitive trading conditions when they deal with ThinkMarkets, including commission-free trading options, a choice between different retail investor accounts, high maximum leverage, and a wide range of educational tools and resources.
Pros and Cons
| PROS |
|
Well-regulated and trusted |
|
Competitive trading conditions offered |
|
Wide range of tradable instruments |
|
Flexible and innovative trading platforms |
|
Trading Central and AutoChartist offered |
| CONS |
|
Fixed spreads are not offered |
FxPro
Features
FxPro has been in operation since 2006 and it is one of the best online brokers in the industry. FxPro is headquartered in the United Kingdom, and it is a No-dealing desk (NDD) broker that is regulated and authorised by the Financial Conduct Authority, Financial Services Conduct Authority, and several others.
FxPro offers competitive trading conditions, high leverage ratios, powerful trading platforms, and access to a wide range of tradable instruments spread across several asset classes. FxPro offers competitive variable spreads with prices aggregated from top liquidity providers.
Pros and Cons
| PROS |
|
Premium trader tools provided |
|
NDD Execution model |
|
Well-regulated in several areas |
|
Offers a choice in trading platforms |
|
VPS provided through Beeksfx |
| CONS |
Social trading is not supported |
There are no managed accounts offered |
Spreads are not the tightest |
Commissions higher than other brokers |
QuickTrade
Features
QuickTrade is a South African-based CFD and forex trading broker that provides traders access to a wide range of different tradeable instruments including forex pairs, exchange-traded funds (ETFs), stocks, and several others.
QuickTrade is well regulated by the Financial Sector Conduct Authority (FSCA) as a registered Financial Service Provider (FSP) in South Africa. QuickTrade has no minimum deposit requirement, which offers traders the perfect entry into different financial markets.
Pros and Cons
PROS |
Well-regulated |
Verified broker that ensures client fund security |
ZAR deposit currencies offered |
Trading Room provided after registration |
Trusted funding options |
MetaTrader supported |
| CONS |
Only one trading account offered |
Accounts can only be opened in ZAR |
Limited financial instruments offered |
Negative balance protection not offered |
FREQUENTLY ASKED QUESTIONS
What is leverage and margin in forex trading?
Leverage refers to the money that traders can borrow from the broker to open larger position sizes despite their initial minimum deposits. Margin refers to the collateral that the broker needs before the trade can be executed.
Are South African Platforms Safe?
Yes, South African platforms that are regulated by the FSCA are considered safe.
What to consider when choosing a high leverage forex broker?
When using a high leverage forex broker, traders must consider margin requirements, negative balance protection, commissions and fees, and some other trading components.
What is the limit on leverage in South Africa?
Unlike Europe and the United States, South African traders are not restricted on the leverage ratio that they can use.
Is leveraged trading risky?
Yes, leverage can maximise the chance of gains in addition to maximising the chance of significant losses.