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Best Forex brokers with free bonus allowed to trade in South Africa. Rating with real reviews

FXTM was founded because trading was too exciting only for a few. As traders ourselves, we saw the potential for the internet to offer opportunities to anyone who was willing and able to learn. We established three guidelines to help others find their opportunities. Trust. Anyone who trades with us can do so with total confidence if there are the appropriate licensing and regulations in place. We pledged to keep customer funds separate, so no one would lose any of their money in the event that things go wrong. We promised to be transparent, open, honest, and truthful. Transparency and honesty were our promises. There would be no hidden fees or secrets in trading statistics. Access. Access should be easy. If Warren Buffet can trade it, it should be possible for it to be traded. Because you can't profit from what it isn’t, we offer access to world-class education that money cannot buy. Value. Value. Our agreement was to keep trading costs low and to work with our customers to make them profitable traders. After all, if you do well, we do well. Every action we take is still measured against the "three mores". Trust, accessibility and value. FXTM gives you more.
ForexTime Pros
Rapid registration and verification of accounts
Lower/tight spreads
Based on your knowledge and experience, flexible leverage may increase
Orders executed quickly
Suitable for people who do not pay or accept interest
FXTM offers flexible leverage, which will give you the competitive edge that you want
Our flexible leverage gives you the competitive edge that you need
You can trade gold with our leveraged and exchange traded funds
Regulated by multiple jurisdictions, even though they are not EU members
ForexTime Cons
High CFD fees
Inactivity and withdrawal charges
Limited product portfolio.
Trades involving standard lot 30 standard lots have extremely low maximum orders.
ECN accounts cannot be used for adding limit or stop levels to executions.
ECN accounts only allow for the addition of stop and limit levels to an executed execution.
Margin caps and leverage caps on ECN accounts
OctaFX is your reliable partner in the Forex market. Our expertise will help forex traders make the right trading decisions. It's possible to experience it for yourself. Our exceptional services will help you gain access to the Forex market. We guarantee clear and accurate management of your funds, transparency in trading conditions, as well as an easy-to use service to deal with any other issues that might hinder you from making a profit. We offer the knowledge and tools to make sure you trade safely and efficiently. Every year, we strive to improve our standards to ensure that you have the best possible trading experience with OctaFX. We are the #1 Forex broker.
OctaFX Pros
MetaTrader 4, MetaTrader 5 or cTrader are all excellent platforms for trading.
Spreads as tight at 0.6 pip, no broker fees for withdrawals and deposits
Trading options include copy trade services, as well as access to a large range of assets.
Available minimum deposit. To trade, you must first deposit $100
CySEC has granted it permission to engage in brokerage activities in Cyprus.
Ability to choose the type of spread (fixed/floating) for MT4 accounts.
More than 97% executed orders without slippage
OctaFX Cons
CFDs cannot be traded via cTrader accounts.
Only a few investment options can generate passive income.
The list of payment methods is constantly changing.
The amount of EPS commissions is not indicated on the company website.
After choosing the right broker, one of the most important decisions that you will need to make in order to become a trader is choosing the right kind of trading account. This is similar to buying a car. A Hummer may not be the best option if you are looking for something cost-effective and simple to use. If a learner is in a Ferrari, they will most likely crash within the first week. However, starting conservatively and getting guidance from professionals can open up new opportunities. The right account type can also make your first few weeks or months of trading easier. Trading can be made enjoyable by having the right account. We will help you navigate the trading platforms and answer any questions. Check out the following trading accounts to find one that suits your needs and goals.
The Exness Pros
Initial investment is small
Unlimited leverage available
Zero commissions on trading
Smaller lot size
Hedging Margin 0%
The Exness Cons
No demo account available
Execution is instantaneous
There is no bonus
Limit of 5 account currencies

Brokers may ask you to trade a certain amount before you withdraw your bonus. Or, they might require that you keep a certain amount in your account for a specified period of time before trading. Forex bonuses have certain terms and conditions.

A few terms are necessary to understand the forex trading process in live trading environments. These terms are:

The most popular bonus is the deposit bonus. The broker will match your deposit up to a percentage, as well as a welcome bonus.

Forex brokers offer traders a 100% match bonus on deposits. A forex broker might allow clients to receive a maximum bonus up to PS1,000 for a deposit they make. After the client makes the deposit, the broker will credit their account with another PS1,000. Even though they have credited their account with PS1,000, the starting balance is now PS2,000.

No deposit Forex bonus gives traders a bonus without having to deposit. These bonuses are very popular as traders can receive a bonus without having to deposit any money. The no deposit bonus is smaller than a deposit bonus and credited with smaller amounts.

Forex brokers offer traders a PS20 bonus without deposit. After traders have opened an account and verified their identity, the forex broker will fund their account with the PS20 bonus. The bonus funds are immediately credited to trader’s accounts.

Terms & Conditions for the Bonus:

Forex trading is easy, even though it sounds simple. However, it can be difficult to cash out the profits. It is important to understand the terms and conditions of brokers.

Minimum Trade Value to Withdraw:

It is complicated to withdraw the bonus. One example is that a deposit of PS500 will result in a PS250 bonus. This amounts to PS750. The forex broker cannot allow traders to withdraw the entire amount directly. This would be detrimental to the platform. The platform sets limits and encourages traders to use bonus funds to trade. These bonus funds can be frozen until they are satisfied. A portion of the bonus funds is usually made available for payouts when the trade requirements are met. The broker may give PS1 as a bonus for every PS10,000 that is traded.

This is for people who are:

Traders who trade regularly place many trades each day.

Play through trades as many times as you can.

People who have large trade volumes.

Time Limit:

The time limitations that bonuses have are also important to traders. This strategy is used by platforms to make cash withdrawals of bonuses difficult. Brokers will often set a time limit. For example, 30 days to trade bonus funds before withdrawing them.

Eligible Couples:

Sometimes, certain currency pairs may be restricted by the forex bonus without deposit. To ensure that the forex trading pair is allowed, read the terms and conditions.