5/5/ · FXTM – Best Overall MT4 Forex Broker in South Africa; IG Markets– Best MT4 Broker for Beginners in South Africa; IC Markets – Best Broker MT4 for Auto Trading; Spreads: as low as 0,9 pips, Min. deposit: $. AvaTrade, a broker regulated by the Sout African FSCA, offers two popular trading platforms – MT4 and MT5. AvaTrade has a local 19/10/ · Spreads above average. blogger.com did a great job by taking their wide variety of assets and their great strategy-crafting tools and mixing them up with MetaTrader 4. If you’re blogger.com is an offshore broker founded by Forex industry veterans. Trade Forex, metals, oil and stocks with leverage up to 4XC accepts all trading styles and Expert Advisors on MT4 FXTM is one of the most popular forex brokers that supports the MetaTrader 4 platform. The best part about the broker is that they have a license and are registered in compliance with ... read more
Read Review USD 6 USD 20 0. Read Review USD 6 GBP 1. Commission is charged by some brokers every time a trade is opened or closed. Making a deposit with a broker is a simple process.
Once you have signed up and opened a live account you will be given a few options. Most brokers in South Africa will accept local bank transfers, credit cards, online payment solutions like Ozow and Payfast, and eWallets like Neteller and Skrill.
Bank transfers usually take days to process and may have a fee attached but all other deposit methods are usually instant and free. To make a withdrawal from a broker you must have enough money in your trading account after deducting the margin needed to keep any trades open. Once you know how much you can withdraw, you can make a withdrawal request via your account dashboard.
To prevent money laundering, South African brokers will only let you withdraw the same amount as your initial deposit back to your credit card or eWallet. Anything more than this will have to be withdrawn to a bank account in your name.
Exness is the broker with the lowest minimum deposit. Regulated by the FSCA since , Exness has three standard accounts which are advertised as having no required minimum deposit. This is not entirely true as the minimum deposit Exness accepts from South African credit cards or bank accounts is 3 US dollars.
Other FSCA regulated brokers in South Africa with low minimum deposits are:. Read Review USD 0 USD 6 Yes 0. Read Review USD 0 USD 12 Yes 0. Read Review USD 1 USD 7 No 0. Read Review USD 3 USD 7 Yes 0 pips 0 pips 0.
Read Review USD 5 USD 6 No 0. What level of minimum deposit you are comfortable with depends on your financial situation.
When trading Forex, the total trading cost is the spread on the currency pair you are trading plus any commission your broker may charge. FBS offers the highest leverage of any Forex broker in South Africa. On three of their five accounts, leverage of is available. Other brokers in South Africa with high levels are leverage are:. Read Review USD 1 No USD 7 0. Read Review USD 10 No USD 15 0. Read Review USD 3 Yes USD 7 0 pips 0 pips 0. Read Review USD 5 Yes USD 18 1. Read Review ZAR 70 Yes USD 10 0.
Leverage is essential in Forex trading because the movements of the market are too small to make a decent profit unless you place thousands of dollars on each trade. Leverage can be used to make large profits with a little of your own money, but you can also quickly lose more than your original investment.
There are a number of international and South African brokers who offer trading from ZAR trading accounts. The top five are:. Read Review Yes ZAR Yes USD 7 0. Read Review Yes ZAR 70 Yes USD 10 0.
Read Review Yes ZAR Yes USD 9 0. Read Review Yes ZAR Yes USD 8 0. Read Review Yes USD Yes USD 14 0. For a complete list of brokers with ZAR trading accounts check our dedicated page on the best brokers with ZAR trading accounts.
IG Markets is the broker with the most CFDs to trade. IG Markets offers trading on over 17, instruments, including Forex, indices, share CFDs, commodities, cryptocurrencies, digital s, options, ETFs, bonds, and interest rates. Read Review 80 USD 0 USD 6 Yes Fees Included in Spread 4. Read Review 62 GBP USD 6 No Fees Included in Spread Which Broker has the Most Currency Pairs? Swissquote is the Broker with the most currency pairs, with over currency crosses to trade.
As part of a larger banking group, Swissquote is very well regulated and is one of the most secure brokers in the world. Swissquote targets professional traders and minimum deposits are high, starting at USD on its entry-level account.
Read Review USD 20 USD 6 Yes 0. Read Review 12 USD USD 17 No 1. Read Review 12 USD 1 USD 30 No 3. Read Review 17 USD 25 USD 18 Yes 0. Read Review 14 USD 3 USD 7 Yes 0 pips 0 pips 0.
Pepperstone is the best broker for professional traders. An ECN broker with extensive liquidity streams, Pepperstone supports all three major trading platforms MT4, MT5 and cTrader and has some of the tightest spreads in the industry 0.
Commissions are low and there are no minimum deposit requirements. The Active Trader Program has a number of other advantages for high-volume traders, including a free VPS service and priority customer support. Some brokers will operate a managed account for you, but this is rare. There are independent money managers who can manage your account while they are trading for themselves. It is vital that you read our article on managed accounts and understand the minimum deposit requirements and additional risks involved when trading CFDs.
If you have any questions after reading through this guide, please get in touch with us in the comments at the bottom of the page. All regulated brokers are required to display their licence number and the authority they received it from on their website. All Forex brokers that are regulated by the FSCA are required to publish their Financial Service Provider FSP licence number on their website. If you believe you have been scammed by your broker, the first thing to do is warn others and tell your story.
We also have a report a scam broker form which we use to gather information so that we get the word out. If you have been scammed, please complete the form. KhweziTrade is the South African broker with the Best Customer Support. South African traders are offered a personalised experience, with all traders receiving a personal account manager. Support, both technical and administrative, is available in English, Afrikaans, Zulu, Sotho, and Xhosa. Marketsx is a trading platform from Markets.
com, which has been FSCA-regulated since and offers ZAR trading accounts for South African traders. Traders can use the Marketsx platform to trade over 2, financial instruments. The platform also offers advanced charting, making it easier to spot trends and identify new trading opportunities.
Marketsx also allows traders to use five types of indicators once, overlay multiple assets, or compare up to eight instruments side-by-side. Marketsx is available on mobile devices and via the markets. com website. Currently, MetaTrader 4 MT4 is the best platform for trading Forex. MT4 has been around since but is supported by most Forex brokers and used by millions of traders around the world.
MT4 is resource-efficient, fast, and can run on older hardware without any issue. Premium Account [MT4, MT5 or cTrader]: Get priority customer support and exclusive market insights when you trade over lots per month, for over 6 months.
Razor Account [MT4, MT5]: Trade Forex on raw spreads, sourced directly from Pepperstone's liquidity providers, plus a commission. Trade CFDs on crypto, stocks, indices, ETFs, commodities, energy and metals on low spreads. Pepperstone allows Pepperstone allows all trading strategies on MT4 and MT5. This account is popular with scalpers. Swap Free Account [MT4, MT5]: Trade Forex and as well as CFDs on crypto, stocks, indices, ETFs, commodities, energy and metals on low spreads, with no interest charges.
Choose between MT4 and MT5. This account This account is only available in certain countries. FXPRIMUS prides itself in creating a safe and secure trading environment. Trade CFDs on Forex, crypto-currencies, indices, metals and energies, on MetaTrader 4 or 5. PrimusCLASSIC [EU]: Trade over instruments across Forex, metals, energies, stocks and global stock indices on low floating spreads without commission. This account is swap-free. PrimusPRO [EU]: Trade over instruments across Forex, metals, energies, stocks and global stock indices from 0.
This account has no swap charges. PrimusCLASSIC [Vanuatu]: Trade over instruments across Forex, metals, energies, global indices and US equities on low floating spreads without commission. PrimusPRO [Vanuatu]: Trade over instruments across Forex, metals, energies, global indices and US equities from 0. Trade without restrictions with OctaFX OctaFX.
com , an international broker headquartered in St. Access CFDs on currency pairs, indices, precious metals and commodities on MetaTrader 4, MetaTrader 5 or cTrader. MT4 Account: Trade Forex, crypto-currencies, indices and precious metals on fixed or floating spreads. This account, designed for novice traders, supports MetaTrader 4. MetaTrader is one of the most popular trading platforms in the world, with millions of traders using the platform to get real-time prices and trade directly from the charts.
MetaTrader 4 allows you to trade a wide range of markets from a single platform, but this isn't to say that all MT4 brokers are alike. com allows you to trade CFDs on 70 currency pairs, across majors and minors such as the Turkish Lira, the Russian Ruble or the Chinese Renminbi. MetaTrader 4 owes part of its success to Expert Advisors EAs , trading bots that can monitor the market and even trade on your behalf when certain conditions are met.
You can create your own EAs using MQL, the platform's programming language, or download third-party EAs from MetaTrader 4's website. MT4 brokers like FxPro. com and FPMarkets. com allow all trading styles and place no restrictions on your use of Expert Advisors. However, this isn't the case with all brokers. For example, AvaTrade prohibits the use of arbitrage EAs. Your broker may provide either market execution, or instant execution. New traders tend to prefer instant execution, because it provides greater certainty of pricing.
Experienced traders tend to prefer market execution, because it provides greater certainty of execution. With FxPro. com , you can open an MT4 account with either instant or market execution - the choice is yours. In contrast, FPMarkets. com offers market execution with very low latency, from its New York data centres.
To help you find the right account, we've clearly shown the execution type of each of the MT4 account featured on this page. However, if you'd like to find out more, why not take a look at our lists of brokers with instant execution and market execution.
Customer service can make all the difference between an outstanding and a disappointing trading experience. However, it can be one of the hardest things to assess from the outset. When comparing MetaTrader 4 brokers, look for one that provides a wide range of contact methods in your language. This will allow you to assess how responsive and helpful a broker genuinely is.
Finally, be mindful of the regulations your next broker will be subject to. Brokers regulated in the UK and EU are required to place your funds in 'segregated accounts', separate from their own. The traders from SA are registered under their offshore regulation.
This makes them somewhat low risk broker for traders. With Raw spread accounts, the spread is as low as 0. With Standard account too, the spread is competitive, around 0. Their trading fees is comparatively quite low even with their Standard account. There is no extra commission with Standard Account type at IC Markets. Their Swap fees are competitive but are not the lowest. The exact fees depend on the currency pair that you are trading. You have the option to fund your account via wire transfer or online wallets like Skrill, Paypal etc.
or via your card. They are a MetaTrader broker, but offer cTrader platform also. Their platforms are available across all devices. Our experience with their support was good. Read our in-depth IC Markets review.
We gave them a lower rating because of high spreads. But the spread is very high with their spread only account types on average it is 1.
So, for traders choosing lower account types at FXTM, the fees is quite high. The Swap fees at FXTM are moderate. The non-trading fees are higher than other brokers. They have very convenient funding methods including local bank transfer in ZAR with zero fees on deposits with this method. But they charge extra fees on some withdrawal methods, like there is 1 USD fees for local bank transfer withdrawals in ZAR.
read our in-depth FXTM review. In South Africa, you must check whether the broker is regulated by FSCA or not. Make sure to verify if the broker is approved for offering derivative instruments. You need to ensure that the broker that you are choosing is approved for offering derivatives trading.
So next time before choosing any broker, properly do your research, and check if the broker is regulated or not. If the broker claims that it is regulated, then search the name of the broker on the websites of the Regulatory authorities: fsca. If the broker that you are about to trade with is not regulated or has a valid complaint against it or has been fined in the past for some bad practice, then its best to stay away from that broker.
Also, as another rule, never choose a broker that is not regulated with at-least 1 top regulator i. FSCA, FCA. CySEC or ASIC. If a forex broker is regulated by more than 1 of these major regulators then it is considered to be a low risk brokerage. So these brokers are considered to be low risk. It is also important to note that some brokers may register their clients under Offshore regulators for lesser compliance.
Always ask your broker about the regulation under which your account will be opened. Most good brokers will transparently answer this question. Another important point to note is that some forex brokers have fixed spread accounts, like Avatrade. But the spread at a Fixed spread broker like Avatrade remains the same as what is listed as the typical spread for every instrument on their website. The average spread is normally calculated over a period by the broker. Also, the commission could vary depending on the CFD instrument.
So you should check the total fees commission for the exact instrument that you want to trade because it is quite possible that the fees for that instrument is lower at another regulated CFD broker. HotForex mention their commissions with Zero account in ZAR as well for traders who have opened account ZAR as their base currency.
Their commission is R80 for majors, and R for other currency pairs. So, you should also check is the exact commission for currency pairs that you want to trade. As the commission could be higher for that instrument. For the same conditions the Swap Fees charged by HotForex is USD You should take this fees into account if you are going to hold your position overnight. For example, FXTM charges an inactivity fee of 5 USD per month after 6 months of Inactivity.
This fees will be deducted from your account balance. In the table below, we have compared the typical spread in pips of our 4 top rated forex brokers for their standard accounts according to the Contract Specification information on their websites :.
Note: All 4 brokers compared above have variable spread, so the actual spread may be higher than the value listed in the above comparison table. The actual live spread will fluctuate based on the market conditions. All 4 brokers listed in above comparison table have variable spread , so the actual spread may be lower or higher than their typical spread for an instrument.
The actual spread is based on the Live market conditions. Another factor to consider is if the broker offers quick order execution speed. Forex brokers either offer market execution or instant execution of orders. It is important to note that during volatile market conditions, you are likely to get requotes at brokers that offer instant execution. But market execution brokers mostly market makers are able to offer instant fill of your orders without requotes but there is likely to be slippage.
Most of the good brokers have a terms or trading conditions page on their website regarding their execution policy. You would agree, right? You should also carefully look into the withdrawal fees, because some brokers offer zero fees on deposits but charge high fees during withdrawals. For ex. Your account base currency is the currency in which your trading deposits, profits are converted.
Eg: If you choose ZAR as your base currency then all your account deposits, profits in your account with the broker with be held in ZAR South African Rand. As per our research, there are a few forex brokers that offer ZAR account in South Africa i. with Rand ZAR as a base currency option for your trading account.
Brokers will generally display their account base currency options on their Account Types page. This will be the primary currency of your trading account. Account current should be a really important consideration for South African traders, if you are looking to make local deposits and withdrawals in Rand.
There are following advantages for have a ZAR forex account:. You should ask these questions these for starters: Is it available for Android, iOS? Is it fast to use? We have compared the best forex trading apps for South African traders based on 9 factors. In general, a good app will have a lot more positive reviews than negative. Another important point to look for in the app is its security.
There have been some brokers which experienced security issues. We tracked the support of every broker that we have listed here. Also, the live chat support at HotForex is responsive. For ex: Avatrade offers customer support during their business hours only, so there may be high waiting time with them for support related issues.
Also, there might be a few minutes of delay while connecting with chat support at some brokers. Normally, their replied in under 6 hours for emails sent to their support email.
Their email support in some cases did not reply back to our emails, and when they did, it took a few days. On average, we got a response to our email within days, but in some cases the responses were much more delayed. You should perform these tests over a period, so you can have the idea on how responsive their support is.
Many traders now trade CFDs on metals, commodities, indices etc. Always check beforehand if the instrument that you want to mostly trade is not available at the broker or not.
Normally, brokers create separate pages for each type of CFD instrument like Forex, metals, indices, commodities etc. Other than forex, you should check if the broker offers NASDAQ or NAS , crypto CFDs, Gold CFDs etc. For example, many brokers like FXTM, OctaFX etc. Make sure to always check beforehand if all the trading instruments that you want to trade are provided by the broker.
And check what fees the broker charges for the instrument you want to trade. Another important thing is to compare the overall trading fees for trading each instrument. Some brokers charge high Swap fees for trading CFDs, and this will increase the overall costs if you are a Position Trader. In this case, you should look for a broker that preferably does not charge you Swap fees for overnight positions on CFDs for commodities, stocks etc.
As a beginner in Forex Trading, you must look for a broker that offers a free demo account, is regulated with FSCA, and also offers good education material.
Ultimately this depends on your trading requirements, like the currency pair that you want to trade, your deposit methods, leverage requirements, if you require a raw spread ECN account broker etc.
However, there are some general guidelines that you should check before depositing your money with any broker. Always choose a broker that is regulated with top tier regulators like FCSA, FCA or ASIC. Another thing that matters is the spread, the lower the better.
Also, check if your desired broker offers a platform of your choice. If your broker offers ZAR account, then it is a positive thing. For a start, you must only choose a broker that is regulated with a top tier regulator.
For this list, we have searched and tested several forex brokers in South Africa offering trading on MT4 trading platform. We also reached out to customer support to solve issues that we had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process. We handpick the best MT4 forex brokers South Africa based on our trading data and experience as a trader.
MetaTrader 4, also known as MT4, is an electronic trading platform developed by MetaQuotes in The platform comprises both server and client components; while the server component is run by the broker to give access to their services through the platform, the client component enables traders to manage their accounts, place orders, and see chart prices. Visit the official MT4 website. The platform is commonly used among retail forex brokers and is used to trade a vast array of markets including forex, indices, cryptocurrencies, and commodities, via CFDs.
Many brokers regulated by FSCA offer MT4 for South African clients, however, not all brokers have the same trading fees, support, and safety features. Despite the fact, that MetaQuote is no longer selling the MT4 platform; it still remains one of the most used platform based on execution.
Many traders in South Africa prefer it as a choice also due to vast number of videos, education materials, and other good sources available online. To select the best MT4 forex brokers South Africa, we tested and reviewed several forex brokers with good regulation and standing. We opened live accounts and deposited real money with each broker, placed real trades to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.
Founded in , FXTM is an FSCA-regulated CFD provider licensed by top-tier regulators in the UK, Cyprus, and South Africa. Additionally, FXTM is known to be one of the best ECN brokers offering 4 types of accounts: Stocks Account, ECN Account, ECN Zero Account , and FXTM Pro Account. FXTM offers its clients a full suite of MetaTrader platforms with trading opportunities in forex, indices, commodities, stocks, cryptocurrencies, and spot metals.
Founded in , IG is a publicly-traded highly regulated brokerage company offering a comprehensive trading package with over 20, trading instruments. IG provides ample educational resources through its academy suitable for beginners, as well as a demo account to allow learning different trading strategies. We picked IC Markets as the best broker for auto trading with the MT4 platform in South Africa. Incorporated in , IC Markets is an Australia-based forex broker offering over 3, tradeable instruments in the forex, indices, stocks, commodities, and cryptocurrencies sectors.
IC Markets offers its clients AutoTrade — a trade copy service owned by Myfxbook — that offers to copy the trades of any system directly into IC Markets MT4 account. It has some of the best conditions for scalping, hedging, and high-frequency trading with the tightest spreads 0. Tickmill is a reputable broker regulated by top-tier entities such as CySec, FCA, and FSCA. Tickmill provides trading on forex, stock indices, oil, precious metals, and bonds with 0.
Tickmill offers a fully customizable MT4 mobile app both on IOS and Android with interactive charts, a full set of trading orders, popular analytical tools, and pretty much all the functionality available on the desktop version.
Founded in , ThinkMarkets is Australia-based forex and CFD broker providing trading opportunities with forex, indices, commodities, cryptocurrencies, and shares CFDs. ThinkMarkets offers low fees for both Standard and ThinkZero Accounts through the MT4 platform. In fact, fees for the Standard account are built into spreads; and for the ZeroThink account type, the broker charges a minimum commission fee with tight or no spreads.
Apart from the shortlisted brokers, here is a complete list of forex brokers that are well-regulated and offers to trade on the MT4 platform for South African clients, which we have tested and reviewed.
Traders usually have many questions related to generic trading-related queries. We tried to answer some of the most important queries related to MT4 forex brokers South Africa. A real or live account is a gateway where traders need to make a deposit before trading can be done, account types vary based on broker proposal too, and typically offering standard, commission-based, or micro-accounts.
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader. Everything you find on BrokerTested is based on reliable data and unbiased information. Read more about our methodology. Your email address will not be published. Save my name, email in this browser for the next time I comment.
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XM vs IC Markets. XM vs Pepperstone. eToro vs Trading IC Markets vs Pepperstone. Trading vs Plus All comparisons. B2B Directory Listing. Liquidity Provider. White Label Provider. Technology Provider. Platform Provider. Market Data. Copy Trading. Payment Provider. Turnkey Solution. Back Office Systems. License for Sale. Brokerage for Sale. Other directories. About us. Best MT4 Forex Brokers South Africa Post author By George Rossi Post date May 5, No Comments on Best MT4 Forex Brokers South Africa Is MetaTrader 4 a good platform?
MT4 Forex Brokers South Africa Overall MT4 Forex Broker MT4 Broker for Beginners MT4 Auto Trading Broker MT4 Mobile Broker MT4 Broker with Low Fees MT4 Forex Brokers List What is Real Account? What is Demo Account? Is MetaTrader 4 MT4 Trading Platform good? Some facts on MT4: MetaTrader 4 is available via desktop, mobile, and web versions It is accepted by most brokers all around the world, except for Japan. MetaQuotes launched MetaTrader 5 MT5 — an upgraded version of MT4 the platform is available in 30 languages MT4 is designed for bit operating system, it will work on bit operating system; however, some compatibility problems may occur.
MetaQuote stopped the platform in to promote its freshly-launched MT5 update. Key features of the MT4 trading platform: 📈Trading Instruments Forex and CFDs 🕐Timeframes 9 🔜Pending Orders 4 Types Buy Stop, Buy Limit, Sell Limit, Sell Stop 📊Hedging Only Hedging 🔎Technical Analysis Tool 30 📑Market Depth No 🗓Economic Calendar No 💰Order Execution Type 3 📊Graphical Objects 31 🖥Strategy Tester Single-Threaded 💳Fund Transfer Between Accounts No 💻Programming Language MLQ4 Best MetaTrader Forex Brokers in South Africa To select the best MT4 forex brokers South Africa, we tested and reviewed several forex brokers with good regulation and standing.
FXTM — Best Overall MT4 Forex Broker in South Africa IG Markets — Best MT4 Broker for Beginners in South Africa IC Markets — Best Broker MT4 for Auto Trading Tickmill — Best Mobile MT4 Broker for South Africa Trading ThinkMarkets — Best South Africa MT4 Broker with Low Fees Best Overall MT4 Broker We picked FXTM as the best overall MT4 forex broker in South Africa.
Best MT4 Broker for Beginners in South Africa We picked IG Markets as the best MT4 broker for beginners. Best Broker MT4 for Auto Trading We picked IC Markets as the best broker for auto trading with the MT4 platform in South Africa. Best Mobile MT4 Broker for South Africa Trading We chose Tickmill as the best mobile MT4 broker for South Africa.
Best South Africa MT4 Broker with Low Fees We chose ThinkMarkets as the best MT4 broker in South Africa with low fees. MT4 Forex Brokers List Apart from the shortlisted brokers, here is a complete list of forex brokers that are well-regulated and offers to trade on the MT4 platform for South African clients, which we have tested and reviewed.
South Africa Metatrader 4 Real Account A real or live account is a gateway where traders need to make a deposit before trading can be done, account types vary based on broker proposal too, and typically offering standard, commission-based, or micro-accounts.
Author of this review By George Rossi.
14/11/ · 10 Best Metatrader 4 Brokers in South Africa (MT4) MetaTrader4 – A Definition. MetaTrader 4 (MT4) is an extremely popular trading platform that was developed by 19/10/ · Spreads above average. blogger.com did a great job by taking their wide variety of assets and their great strategy-crafting tools and mixing them up with MetaTrader 4. If you’re FXTM is one of the most popular forex brokers that supports the MetaTrader 4 platform. The best part about the broker is that they have a license and are registered in compliance with 5/5/ · FXTM – Best Overall MT4 Forex Broker in South Africa; IG Markets– Best MT4 Broker for Beginners in South Africa; IC Markets – Best Broker MT4 for Auto Trading; Leverage is an essential part of Forex trading, but high leverage levels are risky. In South Africa, there is no limit to the leverage a broker can offer. Some FSCA-regulated brokers will Spreads: as low as 0,9 pips, Min. deposit: $. AvaTrade, a broker regulated by the Sout African FSCA, offers two popular trading platforms – MT4 and MT5. AvaTrade has a local ... read more
Plugins and MT4 tools offering by the broker, 6. So, if the pound is in demand, its value against, for example, the dollar will rise and vice versa. Trade CFDs on over 1, stocks, indices, commodities and currency pairs through MetaTrader 4 or 5. Best MT4 Broker for Beginners in South Africa We picked IG Markets as the best MT4 broker for beginners. HotForex HFM. Good Live chat support, but we experience a few seconds of hold time while connecting. On Average 1 pips spread for major pair EURUSD with their Standard Account.This fees will be deducted from your account balance. Low spread with Advantage Account plus volume based commission. We tried to answer some of south african mt4 forex trading brokers most important queries related to MT4 forex brokers South Africa. FP Markets Review 9. No fees on deposit or withdrawals but currency conversion fees apply. IG holds 8 licenses from mostly high reputation financial regulators. Young South Africans looking for new ways to make money are at the forefront of a boom in Forex trading, made all the easier because:.