10 Best Energy Forex Brokers in South Africa

Crude oil, natural gas, wind power, and electricity are only some of the commodities traded in the energy market.

This type of trading is still popular because of the frequent price and volume changes that occur throughout the day.

Due to the ongoing supply and demand for energy assets, trading and investing in this industry is quite popular.

Some of the world’s largest blue-chip businesses by market capitalization are in the energy sector, including PetroChina, ExxonMobil, and BP. Crude oil is probably the most traded commodity.

For traders and investors seeking to profit from the energy markets, it’s important to find a broker which provides a wide selection of energy assets as well as a competitive trading environment.

In this article, we have listed 10 of the best energy Forex brokers in South Africa.

IFX Brokers

Overview

Online Forex broker IFX Brokers, based in South Africa, offers retail and institutional clients alike a one-stop shopping experience for trading the world’s financial markets and a wide choice of tradable assets.

IFX Brokers offers significant energy assets like Brent Crude oil and US Natural Gas in addition to Forex, indices, and cryptos.

Pros and Cons

PROS

Advanced trading features

Low trading fees

No minimum deposit requirement for those

funding their account with bank transfers

CONS

No trade volume discounts

Limited research tools

The demo 12 week period would not be

sufficient training for extremely novice traders

Features

FEATURE

INFORMATION

Regulation

FCA, ASIC

Minimum deposit from

$100

Average spread from

1.5 pips

Commissions from

‎$3

Deposit/Withdrawal Fees

None

Maximum Leverage

1:200

Bonuses

Deposit Bonus

Customer Support

24/6

XTB

Overview

Forex and CFD broker XTB provides retail traders with access to a wide range of international markets through its stock exchange listing.

Their user-friendly but robust trading platforms, which offer a wide selection of strong trading tools, can trade over 2100 instruments from a variety of asset classes.

With this broker, you can expect tight spreads, lower costs per transaction execution, quick trade execution times, a wide range of ways to fund your account, educational resources, and round-the-clock customer care.

Added to this, they are subject to regulation in multiple countries, which offers investors with additional security.

Pros and Cons

PROS

Low trading fees

Free deposit and withdrawal

 

CONS

High stock CFDs

Limited asset portfolio

Features

FEATURE

INFORMATION

Regulation

KNF, FCA, CySEC and IFSC

Minimum deposit from

$250

Average spread from

1.02 pips

Commissions from

0.08% of trade value with $8 minimum

Deposit/Withdrawal Fees

$30 on withdrawals of less than $50

Maximum Leverage

1:500

Bonuses

$40 No Deposit Bonus

Customer Support

24/5

IC Markets

Overview

In addition to a wide choice of trading instruments, IC Markets is the largest true ECN trading broker with low spreads starting at 0.0 pips and deep liquidity from numerous liquidity providers.

This broker, which is licensed to operate in a number of jurisdictions, offers commission-free trading accounts, a large variety of free account funding options, and excellent customer support.

Pros and Cons

PROS

Low forex fees

Easy and fast account opening

Free deposit and withdrawal

CONS

No Negative Account Balance Protection

Limited number of available CFDs

 

Features

FEATURE

INFORMATION

Regulation

ASIC

Minimum deposit from

$200

Average spread from

0.0 pips

Commissions from

‎None

Deposit/Withdrawal Fees

None

Maximum Leverage

1:500

Bonuses

None

Customer Support

24/7

AvaTrade

Overview

More than 1250 trading products are available to customers of AvaTrade, an award-winning trading broker that has been approved by regulators in six countries.

AvaTrade has some of the greatest trading conditions and user-friendly trading platforms in the industry.

Additionally, they have a plethora of other advantages that include minimal costs and narrow spreads as well as fast execution times.

Pros and Cons

PROS

Broad range of tradable instruments

MetaTrader 4 and 5 available

Excellent educational resources

CONS

High EURUSD and inactivity fees

 

Features

FEATUREINFORMATION
Regulation

Central Bank of Ireland, MiFID, ASiC, BVI

Minimum deposit from$100
Average spread from

0.9 pips

Commissions from

No commission on Forex

Deposit/Withdrawal Fees

None

Maximum Leverage1:400
Bonuses

First Deposit Bonus

Customer Support

24/5 – multilingual

FP Markets

Overview

FP Markets has been in business for more than a decade, and its ECN trading conditions have won numerous industry awards for its low spreads, flexible leverage, and direct market access (DMA).

Forex, commodities, cryptocurrencies, equities and indices as well as metals and energy are just some of the more than 10,000 global assets that can be traded on a global scale (ETFs). On the platform, you can swap them all.

FP Markets aims to provide the best possible trading experience for all types of customers. The broker’s use of cutting-edge technology ensures ECN pricing in any market condition.

MT4, MT5, and IRESS are all powerful trading platforms that can be used. Clients enjoy the convenience of being able to trade across all marketplaces and products from one account.

Pros and Cons

PROS

Low forex fees

Streamlined and fast account opening process

Fast processing for deposits and withdrawals

CONS

High stock CFD Fees

Limited product portfolio

 

Features

FEATURE

INFORMATION

Regulation

Australian ASIC, Cypriot CySEC, SCB

Minimum deposit from

$100

Average spread from

0.5 pips

Commissions from

$55 monthly commission for IRESS Trader users only

Deposit/Withdrawal Fees

None

Maximum Leverage

1:500

Bonuses

$30 Welcome Bonus

Customer Support

24/5

Pepperstone

Overview

There are 62 currency pairings, commodities, stocks, indexes, precious metals and cryptocurrency CFDs to choose from at the Australian-based online brokerage Pepperstone.

Non-trading charges at Pepperstone are among the lowest you’ll find anywhere, and this includes reductions for returning traders. Because it offers so many platforms, this broker is one of a kind. It even offers popular copy/social trading platforms.

The company has been in business for ten years and has been acknowledged as one of the greatest NDD brokers in the world as well as one of the top forex brokers in Australia.

Pros and Cons

PROS

No minimum deposit

Low trading fees for forex

No added costs for withdrawals or deposits

 

CONS

Limited number of instruments

No additional research tools

Features

FEATURE

INFORMATION

Regulation

FCA, ASIC

Minimum deposit from

AUD200

Average spread from

0.4 pips

Commissions from

‎$3.76 commission per lot per trade

Deposit/Withdrawal Fees

None

Maximum Leverage

1:500

Bonuses

None

Customer Support

24/5

Plus500

Overview

In spite of the fact that CFDs are the only trading instruments offered by Plus500, these products can be used to trade energies, stock indices and options as well as currencies and precious metals.

Trades at Plus500 are free of charge. When you trade any market on the site, you only pay the difference between the trade price and the market price as a spread.

No matter what market or asset you’re trading, Plus500’s simple technique ensures that spreads are kept as tight as possible.

Pros and Cons

PROS

Wide range of market instruments

Competitive pricing

Well regulated

CONS

Relatively limited research tools

Features

FEATURE

INFORMATION

Regulation

FCA, ASIC

Minimum deposit from

$100

Average spread from

0.5 pips

Commissions from

$3

Deposit/Withdrawal Fees

None

Maximum Leverage

1:30

Bonuses

Deposit Bonus

Customer Support

24/5

FXTM

Overview

FXTM provides automated forex trading. Currency trading, CFDs, equities and energies may all be traded using the FXTM platform, with more than 250 different financial products are available.

FXTM offers a wide variety of helpful tools to help you manage your trades. Inexperienced traders can benefit from FXTM’s comprehensive array of teaching materials.

Pros and Cons

PROS

Superb customer service

High maximum leverage

Great educational tools

CONS

Inactivity and withdrawal fees

Limited product portfolio

Features

FEATURE

INFORMATION

Regulation

CySEC, FCA, FSCA

Minimum deposit from

$100

Average spread from

0.9 pips

Commissions from

No commission

Deposit/Withdrawal Fees

$3

Maximum Leverage

1:500 on average

Bonuses

$300 Trading Bonus

Customer Support

24/5

Forex.com

Overview

Forex.com’s trading platforms are used by more than 140,000 retail traders throughout the world. These traders are from a wide range of countries, including the United States, Canada, Japan, and Australia, to name just a few.

FOREX.com provides transparent pricing based on the type of account you have. The broker offers a choice of technical platforms to satisfy the requirements of traders of various levels of activity.

Trading options will include more than 80 currency pairings, including gold and silver in the US, as well as hundreds of CFDs for non-US traders.

Pros and Cons

PROS

High number of currency pairs

Well-regulated

 

CONS

High stock CFD fees

 

Features

FEATURE

INFORMATION

Regulation

FCA, CIMA

Minimum deposit from

$50

Average spread from

Variable

Commissions from

Commissions on the commission account only

Deposit/Withdrawal Fees

None

Maximum Leverage

Variable dependent on instrument traded

Bonuses

20% Welcome Bonus

Customer Support

24/5

Tickmill

Overview

Several of the most respected FX regulators in the world have regulated Tickmill since its establishment in 2014. Consumers and professionals all across the world may rely on the broker provide them with high-quality products and services.

Since its inception, Tickmill has won more than 15 accolades for its outstanding service, cheap spreads starting at zero pips, and lightning-fast trade execution averaging 20 milliseconds.

Pros and Cons

PROS

Competitive pricing

Well regulated

High leverage

Advanced trading software

STP model

CONS

 

Features

FEATURE

INFORMATION

Regulation

FCA

Minimum deposit from

$100

Average spread from

0.1 pips

Commissions from

‎2 per side per 100,000 traded

Deposit/Withdrawal Fees

None

Maximum Leverage

1:500

Bonuses

$30 Welcome Bonus

Customer Support

24/5