Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Forex broker?

Reply
manicks
Regular Contributor
Which is the best broker to trade forex? (with low brokerage costs)-Want to trade in the eve as i dont have time during day to trade the Alsi.
0 Kudos
10 REPLIES 10
asylum
Super Contributor
dont know about the best broker but i use standard bank fxtrader.
0 Kudos
Sentiment
Contributor
Here is a list of brokers with the average recent spreads. ( http://www.mt4i.com/spread/symbol.aspx ) Alpari UK, FXCM, GoMarkets, Dukascopy are all good brokers, as are many more. Avoid any brokers registered in the USA because since the financial crisis they limit the leverage to 50:1 for retail forex borkers.
0 Kudos
manicks
Regular Contributor
Thanks guys
0 Kudos
SimonPB
Valued Contributor
bwabwahahaha .. anybody trading 50 leverage (or more) is going to bust out .. end of story ..
0 Kudos
Ninja
Super Contributor
Remember IG offers reduced margin requirements if you enter a stop loss at the time of trade.....
0 Kudos
Not applicable
hard to say who is the best. but the closer they live to you the safer. in my opinion
0 Kudos
Not applicable
hard to say who is the best. but the closer they live to you the safer. in my opinion
0 Kudos
Not applicable
Both Oanda and FXCM allows you to trade microlots, i.e. $0.1 per pip. Oanda allows you to go even lower per pip. FXCM is a direct dealing desk, so they don't trade against you, but it means the spread is slightly higher (2 to 3 pips).
0 Kudos
Not applicable
BTW, I have US accounts with both.
0 Kudos
asylum
Super Contributor
the reason i use standard bank is because thier local, but thier platform is run from the USA ,so far no problems standardfx trader offers mini accounts and standard accounts, mini = 1$ standard = $10
0 Kudos