10 best hedging Forex brokers in South Africa
Hedging is an effective strategy employed by Forex traders to minimise their risk of losses by opening one or more currency deals that offset and existing position.
Not all Forex brokers support hedging however, so that it is important for such traders to find those brokers which allow them to open multiple currency deals at once.
In this article, we explore the 10 best hedging Forex brokers who also provide excellent trading conditions.
IFX Brokers
Overview
A variety of financial instruments may be traded using the MT4 trading platform provided by IFX Brokers, an online trading broker. Traders have access to a variety of trading tools and instructional materials, as well as a variety of account choices.
A wide range of trading account options are available at IFX Brokers to suit the interests and preferences of all traders. The IFX Standard, the IFX Raw, and the IFX Islamic Accounts are a few examples.
Traders can place trades ranging in size from 0.01 to 100 lots on any of the accounts offered on the MT4 trading platform. Demo accounts are also available for practice.
Pros and Cons
| PROS |
High leverage available |
MetaTrader 4 is supported. |
Resources for learning are available |
| CONS |
|
Features
FEATURE | INFORMATION |
Regulation | FSA |
Minimum deposit from | ZAR100 |
Average spread from | 0,5 pips |
Commissions from | NA |
Deposit/Withdrawal Fees | NA |
Maximum Leverage | 1:500 |
Bonuses | NA |
Customer Support | 24/5 |
FP Markets
Overview
Trading with FP Markets ensures a competitive commission-based trading environment on an improved MT4 trading platform for pure Forex traders.
There are more than 250 assets available to MT4 and MT5 traders, which is enough to satisfy most traders’ needs. With 63 currency pairs and 10 cryptocurrency pairs, forex traders have an average exposure.
Myfxbook and Autotrade are also available on the MT4 trading platform from FP Markets, in addition to the built-in MT4 copy trading capabilities. FP Markets Copy Trading, a company-owned copy trading service, is the most recent addition. There is also the option of VPS hosting.
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 |
OctaFX
Overview
One of the first STP Forex Brokers to emerge was OctaFX in 2011. New account requests are handled entirely online. The broker gives you a choice of three different kinds of trading accounts.
EAs, Scalping, and Hedging are all allowed. OctaFX provides access to three different trading platforms: MT5, MT4, and CTrader (for MT4). Even so, the choice of platform is influenced by the sort of account you have.
The minimum deposit for an OctaFX Micro Account is $100. CFD trading in stocks, forex, indices, commodities, and ETFs are only some of the assets available through the firm.
Pros and Cons
| PROS |
Ultra-fast execution |
More than 30 forex pairs available |
Well-regulated |
| CONS |
No VPS available |
No Forex educational tools |
|
Features
FEATURE | INFORMATION |
Regulation | CySEC |
Minimum deposit from | $100 |
Average spread from | 0.7 pips |
Commissions from | None |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | 50% Deposit Bonus |
Customer Support | 24/5 |
HotForex
Overview
Active day traders and scalpers, as well as those just getting started in the Forex market, may all benefit from trading with HotForex, a non-dealing desk broker.
They are also a registered broker that takes great care of your money. The ‘Best Client Funds Security in the World’ title was awarded to them recently
Over 2,000,000 traders use HotForex because of its low spreads, quick fill times, and lightning-fast execution.
The trading conditions at HotForex are commonly recognized as superior to those of the competition. Competitive spreads and commission fees are a major priority for them.
Along with the most up-to-date versions of MT4 and MT5, HotForex also provides some of the industry’s best and most realistic bonus offers.
Pros and Cons
| PROS |
No deposit or withdrawal fees |
Competitive spreads |
|
CONS High commission charges on the Zero account |
|
Features
| FEATURE | INFORMATION |
| Regulation | CySEC, DFSA, FCA, FSA, FSCA |
| Minimum deposit from | $5 |
| Average spread from | 0.0 pips |
| Commissions from | USD 0.03 per 1K lot. |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | 100% Supercharged Bonus |
| Customer Support | 24/5 |
FBS
Overview
As an international CFD broker, FBS is able to provide a wide range of trading options for a wide variety of asset classes, such as currency pairs, commodities, energy and stock markets, as well as over 35 cryptocurrencies.
FBS’ range of trading platforms include the MT4 and MT5 platforms, as well as the FBS Trader App. Customers that trade more than three lots per month and deposit more than $450 may additionally take use of FBS’s copy trading platform and a free VPS.
For novice traders, FBS provides a friendly atmosphere with an extensive library of instructional and market research materials. Sign-up bonuses for South Africans will also be offered by FBS.
Pros and Cons
| PROS |
High leverage |
Ultra-fast trade execution |
Low spreads and commissions |
|
| CONS |
Deposit and withdrawal fees |
Features
FEATURE | INFORMATION |
Regulation | CySEC |
Minimum deposit from | $100 |
Average spread from | 0.0 |
Commissions from | $6 |
Deposit/Withdrawal Fees | Variable depending on method |
Maximum Leverage | 1:3000 |
Bonuses | 100% Deposit Bonus |
Customer Support | 24/5 |
FxPro
Overview
FxPro, a highly regulated broker with offices in five different countries, has seen tremendous development in the last decade owing to its favourable trading circumstances.
The cTrader platform offers real NDD execution with narrow spreads, however the cost for this service is significantly higher. FxPro provides a developing asset base over six classes, a straightforward pricing methodology and a strong instructional component.
Pros and Cons
| PROS |
Wide selection of market instruments |
Client funds stored in segregated accounts |
Low trading fees |
| CONS |
|
Features
FEATURE | INFORMATION |
Regulation | FCA, CySEC, FSCA |
Minimum deposit from | $100 |
Average spread from | 1.7 pips |
Commissions from | $45 per million USD traded. |
Deposit/Withdrawal Fees | 1.6% for debit and credit card |
Maximum Leverage | 1:500 |
Bonuses | None |
Customer Support | 24/5 |
AvaTrade
Overview
Founded in 2006, Avatrade is a CFD, Forex, and cryptocurrency trading platform. They are a highly safe broker because they are regulated in three tier-1 jurisdictions and three tier-2 jurisdictions. Their rates and commissions are among the most reasonable in the industry.
As an option on the avatrade platform, you may cover your trades with Avaprotect. The longer you wish to insure for, the more expensive it is. Avaprotect will reimburse you if you suffer any losses during this period.
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 |
Pepperstone
Overview
Pepperstone offers a wide variety of trading platforms to choose from. On the strength of competitive trading fees, fast transaction executions, and a well-balanced asset selection, it has continued to gain market share.
Pepperstone’s trading environment is tailored to facilitate algorithmic and hedging tactics, which account for the majority of trading activity. It costs $6.00 a round lot to access raw spreads for active traders, and the VIP client service rewards high-frequency traders.
Pepperstone’s instructional resources, in-house research, and bilingual customer service make it an excellent choice for new traders.
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 |
FXTM
Overview
FXTM is licensed by the Financial Services and Commodities Authority of SA (FSCA). As of this writing, they have over one million registered members since its inception in 2011.
With their Standard accounts, FXTM’s spread is on the high side, but extremely low with their ECN MT5 account. There are 57 currency pairs, CFDs, Spot metals, and Indices to choose from as well as share CFDs and even cryptocurrencies.
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 |
IC Markets
Overview
CySEC, ASIC, SCB, and the FSA of Seychelles are just a few of the financial institutions that IC Markets is regulated by. Beginner traders will find a lot of help and valuable tools, while there are plenty of services and products aimed for expert traders.
There are over 1,700+ financial CFD instruments that you may trade, including FX and equities, as well as indices, cryptos, and commodities.
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 |