Best CFD Brokers in South Africa

Trading CFDs is one way of trading without actually owning the assets in a bullish as well as a bearish market. CFDs are quite popular in South Africa as it only involves speculating whether the price of an instrument will rise or fall. The government of South Africa counts the income from CFD trading as taxable. It is also necessary for the CFD brokers to be regulated by the FSB or Financial Services Board to operate in South Africa. It is also applicable for brokers that are located outside the said country. Currently, CFD brokers that are setting new trends in South Africa are as follows:

 

 

 

Overview: CFD Broker Comparison Table

#1 Plus500

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When trading with Plus500 in South Africa, the CFD traders are assured that their deposits are safe in terms of protection against hackers and the platform and all their transactions are secured by SSL. The Broker is licenced by: ASIC in Australia AFSL #417727. FMA in New Zealand FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546. (You do not own or have any rights to the underlying assets. Consider if you fall within Plus500's Target Market Distribution. Please refer to the Disclosure documents available on the website). So, the South African traders can open an account there without worrying too much. The interface of Plus500 is extremely friendly and supports 31 languages. The CFD brokerage website constitutes a remarkable web-based platform. For trading CFDs on Plus500, the South African traders need not download any sophisticated software. They can simply start trading by logging on to their trading account. The traders can choose to trade Contracts for Differences on the forex, indices, stocks, ETFs, commodities and even cryptocurrencies markets. The currency pairs also include South African Rand. In all, the clients of Plus500 have more than 2800 CFD instruments at their disposal for trading.

Note: CFD Service. Your capital is at risk

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#2 RoboForex

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Founded in 2009, RoboForex has always focused on offering the best trading conditions using innovative technologies. The international broker allows its traders to trade eight types of assets and over 12,000 instruments, including forex, stocks, indices, ETFs, commodities, energies, metals, and cryptocurrencies. The company is regulated by the IFSC. The professional customer care team of RoboForex is available 24/7 to answer the questions of clients in 11 languages.

You can use various trading platforms to trade with RoboForex, including MetaTrader 4, MetaTrader 5, RWebTrader, R Mobile Trader, R Trader, and R Trader Strategy Builder. The broker also offers an investment platform named CopyFX. Payment systems are very convenient on RoboForexas it allows you to choose from more than 20 payment methods. You can use any of the four account currencies as your base currency – USD, EUR, CNY, and GOLD which simplifies your cooperation with the company.

The company takes the security of its clients’ funds very seriously. It offers negative balance protection to its clients. If the market volatility stops clients from having a positive balance on the accounts, RoboForex sets the balance to zero automatically. Moreover, clients are provided with the service of the compensation fund. With financial commission membership, a member is protected up to 20,000 euros. The company also offers a civil liability insurance program for a limit of 5,000,000 euros. It includes coverage against errors, fraud, omissions, negligence, and other risks that can cause financial losses to clients.

Note: Your capital is at risk

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#3 BlackBull Markets

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Founded in 2014 by a team of experienced forex and Fintech professionals, BlackBull Markets is an award-winning online broker based in New Zealand, offering institutional-grade trading services worldwide with a special focus on CFDs and Forex.

Overall BlackBull Markets offers trading in Forex, indices, energies, metals, commodities and CFDs. It has expanded across several countries, currently has offices in Kuala Lumpur, Jakarta, London, and New York. BlackBull Markets offer Straight Through Processing (STP) and No-Dealing Desk (NDD), as it is an ECN or Electronic Communication Network broker. For ensuring deep pool liquidity and the depth of the market, they have several liquidity providers as its partners. Many major international banks such as Credit Suisse, JP Morgan, RBS, Merrill Lynch, Goldman Sachs, SMBC, Bank of America, Commerzbank, and BNP Paribas.

Note: Your capital is at risk

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#4 IQ Option

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Operational since 2013, IQ Option is popular among the CFD traders in South Africa. A member of the EU, IQ Option is regulated by CySEC IQ Option Europe Ltd. is registered at Cyprus, IQ Option Ltd. is registered at Seychelles. The CFD brokerage company keeps the client funds separated from the company assets such as to secure all the funds. The forex and binary options broker offer CFD trading on several currency pairs like the US dollar, the British pound, and the Japanese Yen. The beginners can start doing CFD trading on indices like FTSE100 and Dax. IQ Option also offers shares and raw materials for CFD trading. The leverage offered by the broker differs from one instrument to another. When trading CFDs with forex the leverage can be as high as 1:500 and for the stocks it is usually around 1:50. The minimum investment made by a CFD trader at IQ Option is $10. The broker accommodates 13 different languages and this option is also viable in South Africa. IQ Option is also extremely popular for Binary Options trading.

Note: Your capital is at risk

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#5 IC Markets

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IC Markets is one of the most well-known forex CFD brokers that offer trading solutions to novice traders, as well as active day traders and scalpers. Clients prefer this broker for its cutting edge trading platforms, superior liquidity, and low latency connectivity. With the revolutionary online forex trading solution, traders now can access pricing that was only available to high net worth individuals and investment banks before.

IC Markets offers a wide range of markets to its clients for trading. You can trade forex CFD, indices CFD, commodities CFD, stocks CFD, bonds CFD, crypto CFD, and futures CFD. The trading platforms offered by the broker are MetaTrader 4 and MetaTrader 5, along with cTrader available for Windows, MAC, Android, Web Brower, and iOS. There are a few powerful trading tools as well to make trading easier, including MAM/PAMM, virtual private server, trading servers, and MT4 advanced trading tools.

IC Markets complies with strict management discipline as a regulated entity and meets strict financial standards, including audit requirements and capital adequacy. The broker is regulated by top-notch regulatory financial bodies like ASIC, FSA, and CySEC. IC Markets also offer security over clients’ funds with segregated client funds. You are also provided with easy money management including instant deposit, fast withdrawal, and secure funds transfer with 0% commission.

Note: Your capital is at risk

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#6 Instaforex

  

Created in 2007, InstaForex is one of the best brokers in Asia where you can trade more than 300 trading instruments including forex, CFDs, futures, indices, stocks, metals, commodities, and cryptocurrencies. Traders are provided with dollar and standard accounts available in three currencies – USD, EUR, and RUB, and the broker also offers swap-free accounts. You can access the trading platforms of InstaForex from PCs and smartphones, in the form of WebTrader, as well as trading apps. There are over ten ways to deposit and withdraw money in the accounts including credit and debit cards, bank transfers, electronic wallets, and cryptocurrency. The best part is that you can top up your account without a commission.

InstaForex offers leverages so clients with low deposits can make more money easily too. Leverages are available from 1:1 to 1:1000 (T&C apply). The broker is a great choice for beginners as it offers demo accounts from $5,000 up to $1,500,000, and there are also promo campaigns for these demo accounts. You can enjoy individual online trading while monitoring account in real-time, and being in full control of the client area. Other great features of InstaForex include high-quality yet simple analysis, copy trades with the trading platform, flexible payment scheme for copying trades, automatic refund, unique “Forex signals” app, instant notifications, and 24/7 customer support.

Note: Your capital is at risk

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#7 AvaTrade

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Founded in 2006, AvaTrade is extremely popular in South Africa for forex and CFD trading. The minimum deposit for the FSB regulated CFD broker website is $100. AvaTrade is focused on simplicity such that from beginner to experienced traders, everyone is at ease. Therefore it offers only one real account. MT4 is the platform that AvaTradenecessitates for CFD trading and it incorporates the MQL trading signals. Other than MT4, the traders can also opt for MirrorTrader, ZuluTrade that allows the trader to copy others’ trading strategies as well as to do social trading. CFD trading at AvaTrade can be done on the ETFs, currencies, equities, bonds, indices and commodities markets. The broker offers more than 250 trading instruments.

 

Note: Your capital is at risk

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#8 Markets.com

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Markets.com is regulated by the regulatory bodies of Cyprus and South Africa. Compared to the other CFD brokers operating in South Africa, Markets.com is considered to have a neat fee structure for CFD trading. The company offers negative balance protection and the minimum deposit is $100 only. The traders can make a deposit through credit card, bank transfer, Paypal, Skrill or Neteller. The traders at Markets.com can trade CFDs on ETFs, indices, stocks, commodities, forex and cryptocurrencies like Bitcoin, Ethereum and Litecoin. The web trading platform of Markets.com is organised and offers easy navigation features. The broker does not charge any fees or commissions other than what is earned through the spreads.

Note: Your capital is at risk

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#9 CM Trading

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CM Trading is based in Johannesburg, South Africa and is a part of Global Capital Markets Trading South Africa Proprietary Limited. The CFD brokerage firm is registered at FSB and offers MetaTrader 4 and Sirix platform for trading forex and CFDs. The process of opening an account at CM Trading is quite easy and they also provide an Islamic account in accordance with the Sharia laws. The company is known to assist the traders completely in CFD trading such as to minimise the risks of losing a trade. CM Trading is also concerned about the safety of its clients and therefore makes sure that the records of all the transaction and personal data are SSL encrypted. The “CopyKat” service offered by CM Trading is akin to social trading and it is a great opportunity to the learners to learn the intricate aspects of CFD trading from the experienced brokers.

Leverage offered by the broker for CFDs for stocks, commodities and indices is up to 50:1. It also provides competitive spreads such as to increase the earnings of their clients. The minimum deposit amount for the CFD traders is $250. The withdrawal requests of their clients are validated within 24 hours usually. The company offers different mediums of payment like CashU and Skrill.

Note: Your capital is at risk

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#10 Vantage

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Founded in 2009 by a team highly specialised in finance, forex, and technology, Vantage is a multi-award-winning broker where you can enjoy lightning fast trading execution of forex, commodities, indices, share CFDs, and cryptocurrencies. The company offers leverage up to 500:1 with low RAW ECN spreads as low as 0.0 for trading on its powerful trading platforms like MetaTrader 4, MetaTrader 5, WebTrader, and Vantage app. Vantage also provides social trading with ZuluTrade, MyFxBook Autotrade, and DupliTrade.

There are several free tools on the trading platform that can make trading easier for you, including MT4/MT5 SmartTrader tools, Forex VPS, economic calendar, forex sentiment indicators, PRO trader tools, and PRO trader tutorials. To start trading, all you need to do is register to an account type, and fund your account using one from the vast range of funding methods. After that, you can access more than 300 instruments across all asset classes.

Vantage is licensed and regulated under VFSC. Hence, the broker is compelled to meet strict capital requirements and employ internal procedures such as financial compliance, risk management, strict auditing procedures, and regular staff training. As a regulated forex broker, Vantage offers segregated client funds and indemnity insurance to its clients for the security of their funds.

Note: Your capital is at risk

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#11 BDSwiss

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Besides being a renowned forex broker in South Africa, BDSwiss is also popular for CFD trading in the country. It is permitted by Financial Services Board to operate in South Africa. The minimum deposit at this brokerage website is a mere $10 and the minimum amount that a trader can invest for CFD trading is $1. They charge a certain commission on CFD trading dependent on the type of market the trader is interested in. For instance, for the stock CFDs the commission is nearly 0.1%. The trading platform offered by BDSwiss is MT4. The broker also offers microlots and CFDs smaller than the one standard contract.

The above-mentioned CFD brokers are known for providing demo accounts and offering a certain amount of virtual money to have a live trading like experience to their clients. Their steady and always at standpoint customer service ranks them among the top 6 CFD brokers in South Africa. These CFD brokers also provide apps that work on both Android and Apple smartphones.

Note: Your capital is at risk

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