If you are a South African trader, these 10 forex brokers offer some of the best services for trading the South African rand。

As funds are held in local banks, deposits and withdrawals can be made faster and conversion fees are waived, South African traders undoubtedly benefit from ZAR trading accounts。Here are a few things you should consider when opening a ZAR account:

• Brokers must be regulated by FSCA。South African residents like to open accounts, and brokers offering ZAR accounts must be regulated not only by the FSCA, but also by the Reserve Bank of South Africa (SARB), as ZAR accounts use rand and funds are held in South African banks.。
  Brokers should offer lower minimum deposits。The minimum deposit amount may vary from broker to broker, but the amount of the ZAR account should be less than the amount of the USD account。
  There should be no exchange fee for ZAR accounts。Usually, you have to convert the South African rand into dollars for each transaction and then back again, which is inevitable。But brokers that offer ZAR accounts usually exempt traders from paying these fees when they fund their accounts.。This is different from international brokers, which tend to offer traders high exchange rates as well as additional fees when converting the South African rand into the base currency。
  Money access should be faster and more efficient。Deposits and withdrawals should be executed faster and more efficiently as they only involve local banks。It should be done on the same day or even immediately。If you use an international broker with a dollar account, international transfers can take days, not to mention exchange and transfer fees that can take up 7-10% of your funds。
  Local customer service should be provided。The quality of customer service can be a determining factor for a good broker。It is common for brokers accepting South African rand currencies to set up local offices to support local clients。Since South Africa is a multilingual country, some brokers should also support Afrikaans, Xhosa and Zulu for customer service。

Here we will learn about the top Forex brokers that allow you to open an account in the South African Rand base currency and offer most of the above criteria。

1. XM

XM offers its clients a wide range of trading instruments (tradable assets and contracts), including FX, equities, commodities and equities。Currently, XM offers four types of trading accounts。Transaction costs are relatively high for micro and standard accounts compared to other brokers。However, this expensive scheme was offset by the ultra-low account, which requires a minimum deposit of just $5 or its equivalent in a variety of currencies, including the South African rand.。Spread from 0.Starting at 6 o'clock, no commission, the maximum leverage for all types of accounts is 888: 1, from ZARNo conversion fee is charged for withdrawing profits from bank accounts.。

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XM was founded in 2009 as a company called Trading Point of Financial Instruments Ltd..A member of an online brokerage firm。To serve customers worldwide, the company has split into XM Australia and XM Global, as well as XM Cyprus。Each member has a different head office and license, XM Australia is registered under the Australian Securities and Investments Commission (reference number: 443670), XM Worldwide is registered under the International Financial Services Commission (60 / 354 / TS / 19), and XM Cyprus is registered under the Cyprus Securities and Exchange Commission (reference number: 120 / 10).。

XM is one of the more experienced brokers in today's online forex trading world。Since its inception, the broker has undergone many changes, including the addition of an ultra-low account and webinar function, which supports 19 different languages with 35 local instructors in each language。

In terms of trading instruments,XM is known for its diversity of asset providers, ranging from Forex, commodities, CFDs for equity indices, precious metals, energy, to equities。XM prides itself on being the ideal broker to execute trades, providing a statistic that 99.35% of orders executed in less than a second。Trading at XM also offers a strict no-re-quote policy, no virtual trader plug-ins, no rejection of orders, real-time market execution, and the option for traders to place orders online or over the phone.。

在在Spreads across all major currency pairs can be as low as 0 in an Ultra-Low account.6 points, while the spread of other accounts usually starts at 1 point。XM chose to limit their leverage to a scale of 1: 888, rather than offering a maximum leverage of 1: 500 or 1: 1000 (whole numbers), a unique number now widely recognized as a trademark of XM.。

In order to protect the client's funds in the case of extreme volatility,XM provides negative balance protection for each type of account。Deposits for micro and standard accounts start at $5, while Ultra-Low accounts require a minimum deposit of $50。Traders who open an account at XM can get conditions similar to a penny account environment in a micro-account, where each lot has a contract size of only 1,000 units.。If you use the smallest number of lots on the MetaTrader platform, which is 0.01 lots, then the trader can trade only 10 units per trade。

For deposits,XM applies zero-fee deposits in most of its available payment methods。Traders can choose to deposit and withdraw money by wire transfer, credit card, and the most popular electronic payment options such as Skrill, Neteller, and FasaPay.。

XM also provides Islamic accounts for Muslim traders who comply with Sharia law that prohibits the use of interest-bearing overnight swaps for each currency pair.。In order to provide their customers with the best trading experience, XM has opened access to MT4 and MT5 platforms, each with more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android and Android tablets).。

In general, there is no doubt,XM has gone global, with its deep commitment to providing trading services worldwide available in more than 15 languages.。In addition to simplifying the trader's experience through mainstream trading platforms and high-quality trade execution, XM is open to all types of traders, from small capital traders to preparing large deposits. More experienced traders.。Even a penny trading environment for traders if they choose to register under a micro account。

for their global approach,XM has ensured that traders from various countries can easily access their services.。This has resulted in different domain names for traders in specific jurisdictions。

XM can be said to be a good choice, especially for scalpers and day traders, because brokers can execute 99 in less than a second.35% of orders。XM also offers video tutorials for new traders, including how to open an account, place an order, and more。

XM is a well-regulated broker, licensed by ASIC, CySEC, etc., and currently operates in South Africa through its FSCA-regulated intermediary, Key Way Financial。Still, with the growing number of new dealers in South Africa, it's only a matter of time before XM gets an FSCA license。

2. HotForex

HotForex is an NDD broker, regulated by FSCA, FCA and CySEC。Like most CFD brokers, HotForex offers many tradable assets such as forex, commodities, indices, stocks, bonds and electronic transfers, and its micro accounts offer low minimum deposits of around $5 and high leverage of 1000: 1.。Withdrawal and deposit of funds is free even for ZAR accounts。You can contact local customer service at the toll-free number 24 / 5。

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HF Markets is an award-winning Forex and commodities broker founded in 2010, offering trading services and facilities to retail and institutional clients.。More than nine years since opening, HF Markets has opened around 1,500,000 live accounts worldwide with 200 employees.。

From the point of view of its services, HF Markets can be regarded as middle class, customers do not need to prepare a large deposit to join the broker to trade。In addition, there are a variety of account types, trading software and tools for both individual and institutional clients to trade Forex and CFD online。

HF Markets is the registered brand name of HF Markets (Europe), which is regulated by various financial regulators according to its location。Details are as follows:

• HF Markets (SV) Ltd, registered as an international business company in Saint Vincent and the Grenadines with registration number 22747 IBC 2015。
  HF Markets (Europe), licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 183 / 12。
  HF Markets SA (PTY) is a financial service provider (FSP) licensed and regulated by the South African Financial Sector Conduct Authority (FSCA) under license number 46632.。
  HF Markets (Seychelles) is incorporated under the laws of the Republic of Seychelles, registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA), securities dealer license number SD015。
  HF Markets (DIFC) Ltd, licensed and regulated by the Dubai Financial Services Authority (DFSA), license number F004885。
  HF Markets (UK) Ltd, authorised and regulated by the Financial Conduct Authority (FCA), company reference number 801701。

Traders can become professional clients, manage and assess risk if they are more experienced, knowledgeable and have a more mature trading environment。As a result, professional clients can get better rates but less regulatory protection。

Trading through HF Markets gives traders access to a variety of trading tools, such as Forex CFD, cryptocurrencies, rare metals (gold, silver, etc.), energy (oil and gas), commodities (such as coffee, copper and sugar), indices, bonds and popular stocks (such as Google, Apple and Facebook)。

HF Markets offers the lowest spreads on the market, with spreads in zero accounts starting at 0。The broker's quotes for major forex currency pairs are accurate to five decimal places。As a result, traders have the opportunity to obtain more accurate pricing and optimal spreads。

HF Markets has received a number of prestigious titles, including the great honour of being among the world's top 100 companies in world finance.。Other awards include the "World's Best Customer Money Security" award from Global Brands magazine, the Best Global Forex Documentary Trading Platform award from the 2019 Global Forex Awards, and the 2019 Fastest Growing Forex Broker Mena Award from International Business Magazine.。

After opening an account in HF Markets, traders will be able to meet all their trading needs through various forex trading platforms。Whether traders prefer to trade on desktop or mobile, MetaTrader 4 can be used on desktop (terminals, multiterminals and web terminals) and mobile phones (iPhone, iPad and Android)。

Clients' funds are held in separate accounts and only the major banks are used by the market, as successful traders must focus their full attention on trading rather than worrying about the safety of their funds。

HF Markets does not charge any transaction fees when making deposits and withdrawals, and has a variety of payment methods, with a choice of wire transfers, bank cards and online payments (Neteller, iDeal, Soport Banking and Skrill), ensuring that traders can trade quickly 24 / 7 on weekdays.。

Traders can earn extra income by joining affiliate programs offered by Markets。Clients who join the program will get some advantages, such as a 60% net spread based on sub-client trading volume, and net income of up to $15 per lot.。More information about HF Markets can be found on its official website, which supports 27 languages。

In summary, HF Markets is one of the award-winning Forex and Commodities Brokers。Traders can choose from a variety of account types in HF Markets, and the broker itself is a trader's favorite due to its low spreads, ideal for traders with limited funds and a desire to have more opportunities to maximize profits。

Although HotForex is not equipped with a web-based platform, it provides users with the universally loved MT4 and MT5, as well as mobile applications。In addition, there are various trading tools that can help traders。However, in order to use Autocahrtist, you need to have a balance of at least 6,500 South African rand。If you are a beginner, it may not be wise to pay the money now。Need to learn the basics first。But don't worry, HotForex offers plenty of free educational content and technology tools。

3. Exness

Exness is a global broker。In addition to Forex and other popular assets, you can also trade cryptocurrencies such as Ethereum and Ripple。Exness has many types of accounts, MT4 standard account minimum deposit of $10, EUR / USD average spread of 1 point。Exness supports MT4, MT5, web and mobile platforms。

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The choice of broker is adjusted according to the needs of each trader. If you only need the basic platform and trading functions with the best attributes, then Exness may be your best choice。

Exness with its 0 only.Advantages such as the low spread from 1 o'clock make up for the lack of changes in its functions, which is very suitable for traders using scalping strategies (Scalper)。Spreads for major currency pairs in some account types can also be as low as 0.0 point, depending on market conditions。

Not only that, traders can also enjoy other advantages such as automatic withdrawals。Exness will process most customer withdrawals immediately without manual inspection; however, depending on the payment provider or method selected, withdrawals may be restricted。

Exness is one of the STP / ECN brokers in Europe, and the safety of traders' funds is also guaranteed。Exness became the official partner of Real Madrid football team for 3 years from July 2017, which also proves that the company has a high degree of stability.。

Exness supports deposits and withdrawals 24 hours a day, 7 days a week。However, it should be noted that the Company does not assume any responsibility if there is a problem with the deposit or withdrawal due to the payment system.。

Traders don't need to worry about transaction fees when making deposits and withdrawals.。Exness does not charge traders any transaction fees, and the chosen payment provider may incur some fees。Exness offers traders a variety of payment methods, including wire transfers, bank cards, Neteller, Skrill and more。

Financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the world's top four accounting firms。

In addition, Exness is one of the most transparent brokers in the online trading industry, and traders can find all the information about the company on the website, such as trading volume, number of active customers, customer deposits, company funds, etc.。

Exness offers different platforms, including MetaTrader 4, MetaTrader 5, web and mobile platforms, which makes it easier for traders to trade on Exness because the Exness platform can be accessed anytime, anywhere。

Over the years, Exness has developed into a broker that attracts traders, who comply with financial regulations such as FCA and CySEC, further strengthening their trust.。

One measure of customer confidence is the volume of transactions。As of December 2018, the monthly trading volume of its clients reached $348.4 billion, with more than 50,342 active traders worldwide.。

With the programs offered by Exness, traders also have the opportunity to earn extra income by becoming their partner。By introducing the Broker (IB) program, partners can earn up to 33% spread commission from each new customer who registers。

Additional income from Exness Partners。Traders who register through the member link can earn up to 25% spread commission per trade.。

Customers can also use their free VPS hosting service when trading at Exness。VPS (Virtual Private Server) provides traders with greater reliability and stability because they can maintain their trading and expert advisors without interruption in the event of unexpected technical problems (such as Internet or power outages)。

In summary, Exness is a trader's favorite broker due to its low spreads and flexible account type, ideal for traders with limited funds but need more opportunities to maximize profits。The broker is also known for its maximum support for new and old partners.。

Exness is an attractive option for cash-strapped traders due to free money access, low transaction costs, and below-average swap fees。In addition, you will not be charged a dormancy fee when your account is temporarily inactive。Instead, your account will be archived after being idle for about 3 months, and you can access the account again at any time to restore the account, which is very suitable for people who only engage in transactions to kill time。

Exness has an analytics blog that is updated every few days, but the quality of the content still leaves a lot to be desired。Given the ubiquity of free forex education, this is a small weakness。On the regulatory front, Exness has been authorised by the FSCA, which by default makes it a safe broker for South Africans.。Exness is also a member of the Investor Compensation Fund, whose role is to protect traders and compensate them for unexpected market conditions.。

4. Khwezi Trade

Unlike most of the brokers on the list, Khwezi Trade is a local South African broker, so naturally the broker is regulated by the FSCA。Khwezi Trade is about the same as other brokers in terms of transaction costs。The minimum deposit for opening a ZAR account is 500 South African rand and the average spread of EUR / USD is 1.4 points。All three types of accounts on offer have a personal account manager, ideal for beginners and experienced traders。

Khwezi Trade is known for its focus on customer needs。The broker deposits traders' funds in separate accounts at Standard Bank in South Africa, providing additional security.。In addition, deposits and withdrawals are free and can be processed on the same day. Customer service is also available in English, Afrikaans, Zulu, Soto and Xhosa.。

Khwezi Trade is a good choice if you are a South African trader and only focus on Forex trading。However, if you plan to increase your portfolio, you may need to think twice because the trading tools available are very limited, at least for now。

5. Plus500

As one of the most well-known brands in foreign exchange trading, Plus500 has also entered the South African financial market by expanding its business scope and registering with the FSCA.。Plus500 is also regulated by FCA, ASIC, etc.。For South African traders, the maximum leverage for all accounts is 30: 1。There is no conversion fee for ZAR bank accounts and the EUR / USD spread is approximately 0.8, with a minimum deposit of about 1,500 South African rand。

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Plus500 is a UK-based company with its main offices in the City of London, which is authorised and regulated by the FCA.。For traders who are looking for a broker with a top regulator, Plus500 is the right choice。

Plus500 offers 2,000 instruments to more than 1 million customers。The list of instruments that can be traded through its CFD service includes forex currency pairs, indices, cryptocurrencies, commodities, stocks and ETFs。Traders can choose the right tool for their needs。

In any case, beginners should be extremely cautious when choosing an asset, as it can be confusing and inherently risky。

When a trader opens an account, Plus500 will hold the trader's funds in isolation in accordance with the FCA's client funds rules。Traders need not worry about Plus500 using their funds for hedging, as the broker strictly prohibits the use of client funds for this purpose。

Other advantages of trading at Plus500 are small spreads and no commissions. The company only offers a single type of account, but traders can update their accounts from retail to professional according to some criteria。

To apply for a professional account, traders must meet at least 2 of the following 3 criteria, such as sufficient trading activity in the past 12 months, a portfolio of financial instruments of more than 500,000 euros, and relevant experience in the financial services field。

Plus500 is widely acclaimed for its services with market spreads, retail account leverage of up to 1: 30, and professional account leverage of up to 1: 300。Plus500 tries to give reasonable leverage options, not only to control risk, but also to help novice traders better control their trading emotions。

Founded in 2008, Plus500 provides almost the same features for retail and professional accounts, including customer fund protection, negative balance protection, best order execution, clear and transparent information, and financial services compensation plans。A professional account is more advanced, though, because FOS can be accessed。

According to statistics, 76 of Plus500's retail account owners.4% Losses on CFDs。Therefore, Plus500 always warns traders to consider their understanding of how CFDs work and their tolerance for taking on high loss risks before starting live account trading.。

Even so, Plus500 has earned the trust of traders around the world, opening some 39 million positions, having 304,000 active clients and processing billions of dollars in trading volume through its system.。

Plus500 always strives to provide the best service to its customers. One of the ways to achieve its goals is to give customers confidence in their trading activities。They have an easy-to-use trading platform and a specially designed mobile platform。Traders can access the Plus500 platform through web traders, iPhone / iPad and mobile apps。

On their platform, traders will have access to advanced tools such as stop loss limit, guaranteed stop loss, free email and market event push notifications, and price movement alerts, all of which can help traders better understand the market。

As for payment methods, Plus500 offers a variety of options such as Visa or MasterCard, e-wallets (PayPal and Skrill) and bank transfers (direct transfers between banks).。

If there are any concerns, hassles or trading issues, traders can contact Plus500's customer service, which is available 24 hours a day, 7 days a week。Plus500's official website can be accessed in 24 languages。

Overall, Plus500 has some advantages and disadvantages。Because it has a license from an elite regulator, traders can feel safe when trading at Plus500; it also provides a 24 / 7 support team to help traders。However, providing leverage up to 1: 300 is not suitable for high-risk traders, such as scalpers, who trade very frequently and hold short-term positions in the market, usually using high leverage。

However, there are no MT4 and MT5 platforms in Plus500。Instead, brokers offer their proprietary platforms that allow you access to various financial markets。The Plus500 platform is user-friendly and allows you to create watch lists, analyze charts, monitor your transactions and more, with over 100 indicators at your disposal。Novices can try all of this with their unlimited demo accounts, Plus500 also offers professional accounts that can only be applied by traders who meet certain criteria。

6. FxPro

FxPro is an NDD broker that can trade forex, stocks, futures and other assets。FxPro is licensed by FCSA in the South African market, as well as by regulators such as FCA and CySEC.。The transaction costs of its five types of accounts vary, but the minimum deposit amount is about 1,500 South African rand, and you can open an account on the MT4 and MT5 platforms.。Spreads also vary by platform, in MetaTrader accounts, the spread of EUR / USD starts at 1.41 points, cTrader point difference is only 0.31 points, despite commission。

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Since its inception in 2006, FxPro has successfully expanded to serve retail and institutional clients in more than 170 countries and is headquartered in London, UK.。

FxPro UK Limited has been licensed and regulated by the FCA since 2010。Meanwhile, other subsidiaries, such as FxPro Financial Services Limited, have been authorized and regulated by CySEC since 2007 and by FSCA since 2015.。So traders no longer have to worry about their money。As a staunch supporter of transparency, it sets the highest security standards for client funds, as companies choose to keep their money in major international banks, completely segregated from corporate funds.。

They always strive to provide transparent and ethical practices in the global trading industry。In 2018, 74.65% of market orders are executed at the requested price, 12.8% of customer orders are executed with positive slippage。In addition, only 1 of all instant orders.4% received a re-offer, of which 0.72% received a better price at the time of execution。

FxPro's total number of transactions increases year by year。In 2018, trading volume reached 53.6 million。Based on the trust of customers, FxPro won the UK's Most Trusted Forex Brand Award 2017 from Global Brand Magazine。In addition, they became the first broker to sponsor an F1 team in 2008 and FxPro has won around 60 UK and international awards.。

They are committed to creating a dynamic environment that provides traders with all the tools they need to gain a trading experience.。Open an account with FxPro to access more than 250 CFDs across 6 asset types, including FX, equities, spot indices, futures, spot metals and spot energy。They want to provide clients with top-of-the-line liquidity and advanced trade execution without the need for trading desk intervention.。Average execution time less than 11.06 milliseconds, up to 7,000 orders per second。These advantages allow traders to benefit from tight spreads and competitive prices。

In addition, FxPro is recognized as an innovative broker。The company allows customers to enjoy a wide range of trading platforms such as MetaTrader 4, MetaTrader 5, cTrader and FxPro Edge。Web-based versions and mobile applications are also available so that traders can access financial markets anytime, anywhere。

Traders can choose the platform according to their needs。Traders for MT4 provide instant execution and easy-to-use trading platform。In this account, leverage is as high as 1: 500, with spreads from 1.From 6: 00, no commission。

Traders should opt for an FxPro MT5 account if they want to gain experience with more modern technologies。In this account, the spread from 1.5 start, leverage up to 1: 500, no commission。

Another type of account is FxPro cTrader。Compared to other account types, it is suitable for traders who prioritize execution speed and have the strictest spread limits。FxPro cTrader is a powerful trading platform that provides the best bid and ask prices, orders can be completed in just a few milliseconds。The platform also provides market depth and trade analysis tools, in which the spread is only from 0.From 3 o'clock。However, traders must pay a commission of $45 per $1 million of forex and metals trades (opening and closing positions).。

The main difference between MetaTrader 4, MetaTrader 5 and cTrader is the range of CFD products available。The MT4 platform provides traders with the opportunity to open positions in all 6 asset classes, while MT5 does not support stocks and cTrader does not support stocks and futures。

In addition to the above 3 types of platforms, you can also access FxPro Edge when trading in FxPro。The platform provides customers with a new way to trade the market in the form of spread betting。

Every broker has advantages and disadvantages, and FxPro is no exception。In addition to the advantages explained earlier, FxPro also has a high minimum deposit amount。In addition, FxPro does not offer many types of payment and withdrawal methods。Some types of methods even require the trader to pay a fee。However, it is still important to note that customers can trade forex, stocks, indices, metals and energy in Fxpro with a limited risk account at no additional cost。

Regardless of the pros and cons, FxPro can be one of the best brokers with advanced technology of choice for traders who are ready to trade with funds starting at $500。

With FxPro Wallet, FxPro does not charge you for deposits and withdrawals。Exceptions may arise if you use specific payment methods such as Neteller and Skrill without making any transactions in advance。Keep in mind that we will charge a monthly idle fee of $15 after the account has been idle for one year。

7. Blackstone Futures

Blackstone Futures is a South African broker offering ZAR accounts with a minimum deposit of only 1,000 South African rand。The EUR / USD spread is also relatively low at 0.6 o'clock。No fees are charged for funds deposits, withdrawals and inactive accounts。That is, continued inactivity for more than 90 days may result in the cancellation of any winnings credited to your account。

Blackstone Futures offers MT4 as the primary trading platform with a built-in CloudTrade platform to provide a more user-friendly tool for new users。For daily market analysis, you can visit Blackstone Futures' social media channels。

As a domestic broker, Blackstone Futures is regulated by the FSCA in addition to other regulators such as the FCA, ASIC and FINSA。Customers' funds are stored in banks in South Africa, simplifying the refund process in the event of broker bankruptcy。

8. Markets.com

Markets.com is licensed by FSCA in the South African market, other regulations include FCA, CySEC, ASIC and BVI FSC。Markets.com has more than 2,200 financial instruments on its built-in platform Marketsx。The account on Marketsx is quite expensive because you need to deposit at least 2,500 South African rand。However, with a wide range of trading tools (over 50 forex pairs, stocks, cryptocurrencies, commodities, major indices) you can expand your trading portfolio。The spread of EUR / USD starts at 0.6 points, the maximum leverage is 300: 1, MT4 and MT5 are also available。

Marketsx provides traders with tools based on technical analysis, fundamental analysis and market sentiment。With a single click, you can track orders, trading instruments and open positions。In addition, each trader has a dedicated account manager。

9. Global GT

Global GT is a new broker that currently only supports the MT5 platform。Doesn't sound like much, but it's actually enough to boost your trading activity。Global GT offers minimum deposits down to ZAR75 and leverage up to 1000: 1 for all accounts。In addition, no fees are charged for deposits, withdrawals and inactivity。The spread is relatively high because Global GT is an STP broker that marks the spread set by the liquidity provider。However, the broker also has an ECN account that uses the original spread。

Global GT is legal, has FSCA and FSA licenses。Segregated accounts and no negative balances for customers。Global GT lacks educational content, but the broker has a responsive customer service team that can answer all technical inquiries and questions related to your trading activities 24 / 7。

10. FXPRIMUS

You can open an account with this broker with a minimum deposit of 1,500 South African rand。The starting average of the spread is 1..5 points (float) and 0.3 points (original)。FXPRIMUS is an FSCA regulated broker and a member of the Investor Compensation Fund (ICF)。In this way, funds of up to 20,000 euros will be protected。FXPRIMUS further seeks to protect its professional customers with $2.5 million worth of professional indemnity insurance, which also involves third parties to ensure quick and efficient withdrawal of funds.。

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FXPRIMUS is a broker operated by Primus Markets INTL Limited, a member of the FXPRIMUS Group regulated by the Vanuatu Financial Services Commission (VSFC), and its trading services brand provides a three-pronged approach to security through technology and education.。Other members of the network include Primus Global Ltd (regulated by CySEC) and Primus Africa (Pty) Ltd (regulated by FSCA)。

Founded in 2009, FXPRIMUS brings security through programs such as negative balance protection, separate accounts, top liquidity, third-party monitoring and 2.5 million euros of professional compensation insurance.。

As for the main trading conditions, FXPRIMUS offers 0.Spread from 1 point, minimum trade size is 0.01 Hands。FXPRIMUS's trading instruments cover most of the frequently traded assets in the financial markets, starting with major forex currency pairs, stocks, indices, energy, precious metals and cryptocurrencies.。

Interestingly, FXPRIMUS also offers two special accounts that appear to be based on spreads and / or execution, namely variable accounts and ECN premium accounts.。Traders who sign up for an ECN account will enjoy a minimum spread from 0。Despite the flexibility to offer multiple trading accounts, FXPRIMUS does not describe the trading specifications for each account in detail。

As a result, traders may have difficulty researching other but important specifications (e.g., maximum leverage per account, stop loss and margin call levels, etc.)。Despite this, both spreads and swap details are updated in real time, reflecting FXPRIMUS's commitment as a transparent broker。

In terms of deposits and withdrawals, FXPRIMUS generously provides traders with a zero fee policy, allowing traders to manage their deposit and withdrawal quantities more flexibly, regardless of the number of fees that may apply to their transactions。There are a variety of payment methods, including electronic payments such as wire transfers, credit cards, FasaPay and Skrill, as well as Bitpay, which facilitates cryptocurrency holders。

While the minimum deposit to open an account at FXPRIMUS is quite high for new traders, the broker places great emphasis on the importance of the educational function。Traders can take advantage of features such as weekly outlook, expert guests, tutorial videos and webinars that are both educational and analytical in importance。

Unfortunately, the FXPRIMUS platform does not yet offer the dual service of MT4 and MT5。Although the broker is trying to be at the forefront of high-end brokers in terms of technological advances by offering VPS, Platinum API and internal PAMM platform, it remains focused on MT4 as the only trading platform for its traders.。

In summary, FXPRIMUS is the ideal broker for traders looking for security and intermediate trading techniques。Traders with intermediate experience are advised to use the。

ZAR Account Related Questions

We know that not many brokers offer ZAR accounts to traders, and traders prefer to open dollar accounts。Now we will see some of the challenges encountered by ZAR accounts。

ZAR depreciation affects international brokers

The fact that the South African rand is not a major currency could seriously affect brokers, especially international brokers。Most global brokers are priced in dollars, so they have to convert dollars into South African rand and expose themselves to risks associated with foreign currencies.。In fact, they do lose money when the South African rand depreciates, so not all brokers are willing to launch ZAR accounts as one of their products。

ZAR Lacks Liquidity Providers

This issue is beyond the control of traders or even brokers。ZAR accounts require a South African rand liquidity pool, and as of now, many South African banks are reluctant to provide liquidity to the pool, which means there are not enough funds to pay for transactions, so ZAR accounts are still rare.。

ZAR is not the main currency

If you want, you can trade the dollar / South African rand or the euro / South African rand, what we call the exotic currency pair。This trading price movement is more volatile and spreads are larger, usually creating greater risk for traders。Major currency pairs such as EUR / USD, USD / JPY or GBP / USD are safer options。However, when trading these currency pairs using a ZAR account, your funds must first be converted to the base currency and then converted back to the South African rand after the transaction ends。

For example, if you trade with floating spreads and commissions are charged in U.S. dollars, currency exchange will take up a small portion of your trading results。If you open multiple positions at the same time, the total conversion cost may be high, which is an aspect you should consider when calculating your overall trading profit or loss。That said, most ZAR accounts have a fixed South African rand currency commission。

So, should you open a ZAR account？The account has no conversion fee and is faster to deposit and withdraw money.。Also, keep in mind that some brokers use USD as a transaction cost。If your style is to make multiple trades at the same time, then you may end up losing unnecessary funds because of your ZAR account。So double check if the broker is charging commission in South African rand or US dollar。