Low Spread forex brokers
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5 Best Low Spread forex brokers in South Africa

When it comes to forex trading, many traders look for brokers who have the smallest spreads possible in order to maximize their prospective profits. Low Spread forex brokers-

The development of forex trading in recent years has resulted in stronger than ever competition between brokers, prompting many of them to offer competitive trading conditions and tight spreads to attract customers.

In this article, we break down the 5 best Low Spread forex brokers that offer low spreads alongside excellent trading conditions. 

1. City Index

Overview

With City Index, traders may take advantage of tight spreads starting at just 0.5 points on popular currency pairings. Based on fair and transparent pricing as well as thorough client support, the broker aspires to be the market leader in terms of service.

City Index clients receive access to more than 12 000 worldwide markets, including Forex, indices, stocks and commodities, as a result of their membership with the company.

Pros and Cons

PROSCONS
Low trading fees

No fees for deposit and withdrawal

Comprehensive research tools

Limited product portfolio 

 

Features

FeatureInformation
RegulationFCA, ASIC
Minimum deposit from$100
Average spread from1.5 pips  
Commissions from‎$3
Deposit/Withdrawal FeesNone
Maximum Leverage1:200
BonusesDeposit Bonus
Customer Support24/6

 

2. IFX Brokers

Overview

Online trading broker IFX Brokers is situated in South Africa and provides its clients with cutting-edge technologies.

Trading with IFX Brokers will result in costs starting at $6 USD, spreads ranging from 0.5 to 1.6 pips, and commission-free trading across the majority of account options, according to the company. 

Pros and Cons

Pros

High leverage available

MetaTrader 4 is supported.

Resources for learning are available

Cons

 

Features

FeatureInformation
RegulationFSA
Minimum deposit fromZAR100
Average spread from0.5 pips
Commissions fromNA
Deposit/Withdrawal FeesNA
Maximum Leverage1:500
BonusesNA
Customer Support24/5 

 

3. Forex.com

Overview

FOREX.com has a five-tiered Active Trader program for traders with a lot of trading volume.

Spreads on the EUR/USD pair can fall as low as 0.84 pips at levels five and six, respectively. Using the most recent data from the broker, the typical spread for MetaTrader users was 1.3 pips on the EUR/USD.

Pros and Cons

PROSCONS
Low Forex feesLimited asset portfolio
High number of currency pairs

Well-regulated

High stock CFD fees

 

Features

FeatureInformation
RegulationFCA, CIMA
Minimum deposit from$50
Average spread from1 pips
Commissions fromCommissions on the commission account only
Deposit/Withdrawal FeesNone
Maximum LeverageVariable dependent on instrument traded
Bonuses20% Welcome Bonus
Customer Support24/5 

 

4. FXCM

Overview

FXCM’s spreads on currency pairs and CFDs are competitive. Spreads for active traders can be significantly reduced because of the volume of trades they make.

On FXCM, some of the most popular currency pairings traded are EUR/USD and GBP/USD, both of which have modest spreads of just 1.3 pip.

Pros and Cons

PROSCONS
Excellent trading platforms1.Limited product portfolio in terms of asset classes
Low minimum deposit

High maximum leverage

 

Features

FeatureInformation
RegulationFCA, ASIC, ACPR, FSP
Minimum deposit from$50
Average spread from1.3 pips
Commissions from£4 per standard round-turn lot (£2 per side)
Deposit/Withdrawal FeesNone
Maximum Leverage1:400
Bonuses$20 Welcome Bonus
Customer Support24/5 

 

5. Plus500

Overview

Trading on a wide range of financial markets with low spreads and no commissions is a defining feature of Plus500.

Plus500 is considered an advanced broker that provides a comprehensive selection of trading features, ensconced in sound regulation and offering excellent customer support. 

Pros and Cons

PROSCONS
Wide range of market instruments

Competitive pricing

Well regulated

Relatively limited research tools

 

Features

FeatureInformation
RegulationFCA, ASIC
Minimum deposit from$100
Average spread from0.5 pips  
Commissions from‎$3
Deposit/Withdrawal FeesNone
Maximum Leverage1:30
BonusesDeposit Bonus
Customer Support24/5

 

 

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