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
| FEATURE | INFORMATION |
| 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 Leverage | 1:400 |
| 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 |