Broker offers

Fidelity doesn’t offer any cash bonus right now and their last promotion, for free trades, no longer applies as they’ve made many trades commission free.

New forex bonuses

The 14 Best Brokerage Account Promotions and Bonuses for 2021, broker offers.

Here is the ally invest bonus structure:

The 14 best brokerage account promotions and bonuses for 2021

Updated january 19, 2021

Some links below are from our sponsors.

This blog has partnered with cardratings for our coverage of credit card products. This site and cardratings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author's alone and have not been reviewed, endorsed or approved by any of these entities.

As an amazon associate, I earn from qualifying purchases. More information

Are you looking to open a new brokerage account to manage your portfolio of investments but aren’t sure which one?

Many online investment platforms compete for business by offering new account promotions based on the assets you can transfer to their platform. While promotions shouldn’t be the only consideration, these promotion/bonus amounts are too hard to look past.

There are a range of bonuses listed below, whether you have an established portfolio and looking to transfer stocks, or starting new.

Continue reading to review the best brokerage account promotions for new accounts.

Our top picks:

Webull – 4 free stocks worth up to $1,600

Webull is a free trading app from webull financial. They are a brokerage based out of new york city and regulated by FINRA, you can look them up on brokercheck. We have a full review of webull and their offer here.

For new signups, open and fund an account with $100 and they will give you 4 free stocks worth up to $1,600. They have no fees and no account minimums so it’s truly free stock.

Robinhood is a relatively new brokerage that will give you a free share of stock when you open an account. There are no other requirements of the offer, you just need to open an account. No deposit, no transfer, no nothing. You can read more about the free share of stock promotion here.

Ally invest – up to $3,500

Ally invest is the online brokerage account I use because they offer free trades (U.S. Stock, etfs, and options) with no minimums and monthly balance requirements. I have an ally bank account so managing it all with one login is convenient too. I wish I would’ve taken advantage of their new account bonuses for transfers because it’s one of the most generous, here is the schedule based on how much you deposit within 60 days of account opening:

Here is the ally invest bonus structure:

Deposit $10,000 – $24,999, get $50 cash

Deposit $25,000 – $99,999, get $200 cash

Deposit $100,000 – $249,999, get $300 cash

Deposit $250,000 – $499,999, get $600 cash

Deposit $500,000 – $999,999, get $1,200 cash

Deposit $1,000,000 – $1,999,999, get $2,500 cash

Deposit $2,000,000 or more, get $3,500 cash

They will also credit transfer fees if you move your account from another brokerage. Whatever the other brokerage charges, up to $150, they will reimburse you.

NVSTR –

NVSTR has a referral program where you can get up to $1,000 (but at least $10) when you sign up. The referring customer gets $10 to $1,000 too – and it’s a limited time offer. If you’ve never heard of them before, our NVSTR review can get you up to speed.

The only requirement is that you make one trade within a year and you can keep the bonus. There are no other requirements for the new account bonus.

There is also a deposit bonus. For a limited time, after you open your account, you can get a bonus based on what you deposit. You need to maintain this amount for one year to keep the deposit bonus.

Tastyworks

Tastyworks will give you 100 shares of a “highly liquid stock” when you open and fund a new cash or margin account with $2,000. The shares will be selected at random from a list of eleven stocks priced between $1 and $6, so you can get anywhere from $100 to $600 in this promotion with a stated average bonus of $200 – $220. There is a 70% chance of getting a stock priced under $2 and a 30% chance of getting a stock priced over $2.

You must keep the initial value of the stock, less any loss in value, in the account for a minimum of three months.

The referral/promotion code for this offer is “STOCK_AWARD_20” and you must put it in the referral code field when applying.

Sofi invest – $50

Sofi invest is the brokerage arm of sofi, the student loan refinancing company. They’ve recently branched out into other areas, including sofi money (banking), and they are now offering a $50 bonus if you sign up and deposit at least $25.

With sofi invest, you can manage your portfolio (active investing) or go with a roboadvisor approach (auto investing). With active investing, you can invest in stocks, cryptocurrencies, and etfs without paying a trading commission.

For a limited time, get $50 in stock from sofi invest if you sign up with a referral link and deposit at least $1,000. There’s no trading requirement.

Betterment

Betterment is one of the largest and most respected robo-advisors, you can see our review of betterment for a closer look at their service.

For new accounts, they will waive the management fee of 0.25% depending on how much you transfer:

Deposit $15,000 – $99,999, get 1 month managed free

Deposit $100,000 – $249,999, get 6 months managed free

Deposit $250,000+, get 12 months managed free

Citi personal wealth management

Citi personal wealth management has a juicy bonus offer when you transfer new-to-citibank funds within 2 months of opening an account. You also will need to enroll in e-delivery of statements and then keep those funds in the account through the end of the next month (or three months after the month of account enrollment). Bonus will be credited three months after you meet the maintenance requirement.

Here’s the citi bonus transfer schedule:

Fund with $50,000 – $199,999: $500

Fund with $200,000 – $499,999: $1,000

Fund with $500,000 – $999,999: $1,500

Fund with $1,000,000 – $1,999,999: $2,500

Fund with $2,000,000+ $3,500

Merrill edge – up to $600

Merrill edge, a bank of america company, will give you up to $1,000 if you open a new merrill edge account using the offer code 600ME. You just need to transfer your funds within 45 days, maintain that balance for 90 days, and you will get the cash bonus in 2 weeks. This bonus applies to individual merrill edge iras or cash management accounts, which is what they call their taxable brokerage accounts.

Here’s the merrill edge bonus transfer schedule:

Fund with $20,000 – $49,999: $100

Fund with $50,000 – $99,999: $150

Fund with $100,000 – $199,999: $250

Fund with $200,000+ $600

If you are a preferred reward client, you may get up to $900 with this alternative offer.

Charles schwab – up to $500

Charles schwab will give stock plan services clients a bonus of up to $500 when you open a new account and transfer in new funds with 45 days. If you are not a stock plan service, they won’t give you this promotion (they will even let you apply and enter in a promotion code, but they won’t give you the bonus).

Here’s charles schwab’s bonus transfer schedule:

Fund with $10,000 – $24,999: $100

Fund with $25,000 – $45,999: $200

Fund with $50,000 – $99,999: $300

Fund with $100,000+ $500

Update: I have received reports from readers that you don’t get cash but instead get “trade credits” which can be used to pay the commission for trades. If you are considering this offer, call to confirm the details.

E*TRADE – up to $2,500

When I think of new account promotions, I think of E*TRADE. For years, they had an offer where you could get up to $3,000 (if you had over a million dollars in assets to transfer!) and 60 days of free trades if you open a non-retirement brokerage account.

With the recent rush of brokerages offering free trades, the promotion is now just cash.

You can find the full details here but this is the offer:

Deposit $5,000 – $9,999, get $50 cash

Deposit $10,000 – $19,999, get $100 cash

Deposit $20,000 – $24,999, get $150 cash

Deposit $25,000 – $99,999, get $200 cash

Deposit $100,000 – $249,999, get $300 cash

Deposit $250,000 – $499,999, get $600 cash

Deposit $500,000 – $999,999, get $1,200 cash

Deposit $1,000,000 or more, get $2,500 cash

Fidelity – promotion expired

Fidelity doesn’t offer any cash bonus right now and their last promotion, for free trades, no longer applies as they’ve made many trades commission free.

This offer has expired. We will update it when fidelity issues a new promotion.

Tradestation – $100 – expired promotion

Tradestation has a “cash madness” promotion where you can get $100 when you open and fund a tradestation securities account with $500 or more. All you have to do is open a new tradestation securities account using the offer code ZINGAFOG, deposit at least $500 within thirty days of opening your account, and then maintain the balance for one month after the funding date.

The promotion expired on july 1st, 2020. We will update this section when a new promotion arrives.

Frequently asked questions

Here are some frequently asked questions about bonuses and the brokerage transfer process.

How do transfers work?

Almost every brokerage firm supports ACATS, which stands for automated customer account transfer service, which lets you transfer your assets in-kind. This means that it transfers your assets as they are without you having to sell them. So if you have big gains in the stock, the shares just get transferred without you having to sell them, transfer the cash, and then buy them again.

You may run into hiccups if some items can’t be transferred. One common example is vanguard admiral shares of their mutual funds. Some brokerages will take them, others won’t. In these cases, you may have to transfer them to another asset type (like the ETF version), which will accept them.

ACATS does take a week or two to complete the transfer.

Is this worth it?

I don’t know if it’s worth hopping around from broker to broker, grabbing up the bonuses, but the process isn’t difficult. If you’re looking to make a move anyway, getting paid a little for the effort is better than not being paid. Some brokers may charge you to leave, which is something you’d be paying anyway, so hopping around may reduce your returns from the bonus perspective.

How do the taxes work?

If you are creating new taxable brokerage accounts, the bonuses will be reported and you will have to claim them on your taxes as income.

If you are creating retirement accounts, like an IRA, the bonuses are going into those accounts so you won’t owe taxes on them. For traditional iras, you’ll just be taxed when you start taking distributions. Roth iras will never be taxed. For each account, review the terms and conditions to see how the brokerage is treating it and you’ll know for certain.

Fxdailyreport.Com

The advantages of trading with high leverage brokers can make the mouths of even the most experienced traders water. The sheer unpredictability with which positions emerge and the appeal of massive gains from relatively minimal capital investment make it an exciting world to do business. But just as the gains are sweet, trouble is real when trading with high leverage forex brokers. In fact, there have been rising calls amongst international regulators looking to clamp down on the less savvy consumer.

This is to stop traders from investing their life savings without a comprehensive understanding of the pros and cons of this intricate and potentially high-risk investment strategy. That said, here is a comprehensive list of the pros and cons of trading with high leverage forex brokers.

10 best forex brokers with highest leverage

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker

Before we delve into the pros and cons, it is worth explaining what leverage is.

What is leverage ?

Leverage is a service offered by forex brokers. It allows FX traders to place orders that are significantly higher than their actual deposit. This, in turn, helps them achieve higher profits in the market. In the same way, when using leverage, the traders risk losing their deposit faster.

Pros of trading with high leverage forex brokers

The first and most obvious benefit of trading with high leverage forex brokers is that it earns you more money for less effort. Regardless of the nature of the instrument being traded or whether you are staking a small or large amount, the key role of high leverage brokers is to increase your profit by multiplying the stakes. Although the same effect could be achieved by investing more capital in each position, leverage works to ensure it is a step ahead in artificially boosting your available capital, usually by hundreds or even a thousand times.

Increases capital efficiency

In conjunction with the point above, high leverage forex brokers give you the ability to earn high profits per transaction, naturally increasing the efficiency with which you are using your capital. For instance, if it takes you a week to generate $100 with an unleveraged position, leveraging it up means it will take a shorter period to deliver the same results.

In essence, this means that your capital and revenues will be freed up sooner and can be reinvested more times to deliver the most significant and fastest yields possible.

Trading with low capital

A few years back, only the wealthy could make a profit through forex trading. This is until the introduction of leverage which allows anyone to do it. Leverage allows traders to start trading without having to provide large amounts of funds.

Eases low volatility

Another important benefit of higher leverage forex trading is its ability to mitigate against low volatility. A volatile trade is one that delivers the highest profits. Unfortunately, due to the cautious nature of forex market traders, volatility tends to be at the lowest end of the scale. High leverage mitigates this by offering larger profits from smaller transaction sizes. High leverages allow traders to capitalize on even the smallest degrees of movement in market pricing.

High leverage FX brokers are the true double-edged sword. When they work for you, they really work for you. But when they turn against your position, trading with them can do some serious damage to your finances within the blink of an eye. Therefore, it is important that as a trader you also understand the disadvantages of trading forex with high leverage brokers.

Heavier loss risks

The main disadvantage of using high leverage brokers in trading is that it carries a high amount of risk by paving the way for heavy losses. The goal of leveraging is simply upping your ante so that you are essentially playing with more money. Hence, when the games are up and done, you keep huge profits but also bear the losses.

High leverage can end up costing you a lot more than you bargained for, especially when your positions inevitably head south time and again. It is important to know that the higher the leverage you are trading with, the larger your chances of profit and loss are.

A constant liability

When trading forex, it is crucial to understand that leveraging automatically builds a liability that must be met by your account by the end of the day. Regardless of whether a transaction is up or down, or how many additional costs you have covered at the end of the day, the basic cost must be met and will automatically be applied to your account.

This means that by simply entering into a position, you are by default handicapped since you will need to meet the automatic liability of the leverage portion at the close of the trade. Even if the transaction eventually trends towards zero, the leverage amount will still be owed and must be paid before you can move forward.

Any leveraged trade earns a higher cost. The funding applied to your position must be paid for in terms of interest. Whenever you leverage your transaction, you are essentially borrowing money from your broker and will be required to pay with interest. This interest is calculated and applied daily depending on the rates set by your broker.

Note that the higher the leverage amounts in the trade, the more interest you will incur and the commission the broker will charge to open the contract.

There is also the ever-present risk of falling below the margin requirements set by your broker. The margin call is the set percentage of any transaction size you are required to fulfill in terms of your own capital. If at any time you fall below that threshold, you can expect your brokers to prompt the margin call, which automatically liquidates your portfolio as far as meeting your obligations is concerned.

This could mean that any standing positions that could have run on to deliver massive profits are closed out early in addition to settling losing positions that may never recover.

The bottom line
when managed well, trading with high leverage brokers can be a successful and profitable move. Just make sure to never use high leverage if you are taking a hands-off approach to your trades.

Are you getting ready to open a new trading account in india? Or maybe looking at transferring to a new broker? Or planning to open an another account for trading? If so, you should definitely take a look at the current share broker promotional offers and other promo deals.

Topsharebrokers.Com also features exclusive offers available only through our site. Specials can include free trading account, free demat account,free life time AMC on trading and demat account, cash discount, cash brokerage discount which is free trades. Make sure you take advantage of these special deals as many are time sensitive and do expire.

Special offers and promotions

Get ICICI direct 3-in-1 account, an integrated trading + demat + bank account for one-click investment in stock market and mutual funds.

Simply leave your contact information with us and ICICI direct representatives will contact you.

Get free trading + demat account (rs 1150 waived on account opening) for a limited time. Sign up now

Unlimited trading in equity, F&O, and currency at just rs. 500 per month. Sign up now

Open IIFL demat & trading account free - zero A/c opening charge & demat AMC (rs. 250 PA) waived off for 1st year. Sign up now

Free demat AMC (client need to opts for 3,000 value pack (prepaid brokerage) or open the A/c with above 25,000 margin). Sign up now .

Get HDFC securities 3-in-1 account, an integrated trading + demat + bank account for one-click investment in stock market and mutual funds.

Simply leave your contact information with us and HDFC securities representatives will contact you.

Get kotak securities 3-in-1 account, an integrated trading + demat + bank account for one-click investment in stock market and mutual funds. Advantage of kotak FIT plan

Free delivery trading - zero brokerage, direct mutual fund investment on zero cost. Open account online. 3-in-1 account with IDFC bank. Sign up now

Zero account opening fees for limited time. Get the offer .

Rs 500 cashback as brokerage benefit. This is a limited time offer. Sign up now

Free account opening+free demat AMC+free trading. Sign up now .

Get 15 days brokerage free trading + lifetime rs 0 AMC demat account for rs176 one time fee. Use coupon CHT176 to avail this special offer. Sign up now .

Free trading for one month(up to rs 1000 value). Free account opening a limited time offer. Sign up now .

Free account opening, rs 400 waived a limited time.. Get the offer .

Get up to 20% on referral bonus, free trading tools. Get the offer .

100% refundable account opening fee as brokerage cashback, zero charges for equity delivery trades, flat rs 20 for F&O trades.

This is a limited time offer. Simply leave your contact information with us and upstox representatives will contact you.

Account opening of rs 199 waived off i.E. Zero trading account opening fee for limited time.If KYC is completed and submitted within 2 days of contacting us. Sign up now .

100% brokerage cash back for 1st month for trades using stocknote mobile app + free trading and demat account opening.

Simply leave your contact information with us and SAMCO representatives will contact you.

Get FREE equity delivery trading and trade at flat rs 20 per order in other segments.

Simply leave your contact information here and get a callback from fyers representative.

Free online trading account, lowest discount brokerage plan ₹10 per executed order. Sign up now

Free delivery trading, free lifetime demat AMC. Sign up now .

No profit, no brokerage plan facilitates trader to pay a flat brokerage fee of rs. 15 per order, only if you earn a profit otherwise, no brokerage charges levied.

Groww offers free demat and trading account, this is a limited time offer, open account now.

Complete 100% digital KYC and open paytm money demat and trading account now signup now.

Free life time demat AMC & trading AMC for limited time. Sign up now .

Get axis direct 3-in-1 account, an integrated trading + demat + bank account for one-click investment in stock market and mutual funds.

Simply leave your contact information with us and axis direct representatives will contact you.

Free delivery trading + earn upto 20% when you refer your friend. Sign up now .

Compare brokers for mini accounts

For our mini accounts comparison, we found 19 brokers that are suitable and accept traders from united kingdom.

We found 19 broker accounts (out of 147) that are suitable for mini accounts.

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About XTB

Platforms

Funding methods

82% of retail investor accounts lose money when trading cfds with this provider.

Avatrade

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About avatrade

Platforms

Funding methods

79% of retail investor accounts lose money when trading cfds with this provider.

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About IG

Platforms

Funding methods

76% of retail investor accounts lose money when trading spread bets and cfds with this provider

Forex.Com

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About forex.Com

Platforms

Funding methods

69% of retail investor accounts lose money when trading cfds with this provider

Axitrader

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About axitrader

Platforms

Funding methods

68.5% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Etoro

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About etoro

Platforms

Funding methods

71% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

City index

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About city index

Platforms

Funding methods

72% of retail investor accounts lose money when trading cfds with this provider

Easymarkets

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About easymarkets

Platforms

Funding methods

83% of retail investor accounts lose money when trading cfds with this provider.

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About GKFX

Platforms

Funding methods

81.75% of retail investor accounts lose money when trading spread bets and cfds with this provider.

Thinkmarkets

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About thinkmarkets

Platforms

Funding methods

Losses can exceed deposits

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The ultimate guide to

Pros, cons and characteristics of a ‘mini account’ in online trading

Introduction

A trading account is a basic but compulsory requirement for all online trading activity. The trading account is the depository for trading funds and holds information about a trader’s activity. All funds deposited, whether by wire transfer, credit/debit card or by transfer from a trader’s ewallet, such as paypal or skrill, are sent to the trading account. Equally, any returns a trader has been able to accumulate from trading are deposited in the trading account, from where they can be withdrawn.

All traders are not created equal and some brokers have used this knowledge to develop and implement a system of stratification. This means that different account types have been created, each with their own unique characteristics designed to suit the needs of a particular segment of the broker’s client base.

Brokers that offer various account types tend to offer three main types of online trading accounts. These are:

These accounts can have different labels applied, but the architecture of the accounts follows the classification stated above. Mini accounts are the focus of this article and will be discussed in more depth below.

Characteristics of mini accounts

Mini accounts can be described as basic level or entry accounts. They are meant for new traders or those who are entering the world of online trading for the first time. The primary factors that distinguish mini accounts from the other account types are the following:

Minimum deposit amounts

Trade size

Maximum size of investment

Accessibility to certain features

The capital requirements for mini accounts are usually smaller than those for other account types. It is not unusual to see the minimum deposit amounts for mini accounts to be as low as £100 on some platforms, whereas VIP accounts on the same platform may require a minimum of £20,000. There is a reason for this. Entry level traders are not very skilled at trading and using money management techniques. For their own protection and also to enable them to get acquainted with the market using smaller trade sizes, the brokers set a small entry bar for these traders.

Such low minimum deposit requirements also mean that the trade sizes which can be used for online trading are quite small. Mini accounts will usually allow micro-lot trading (i.E. 0.01 lots), with positions sizes not exceeding a few mini-lots. Mini account holders are usually not allowed to hold standard lot positions and are also not allowed to execute full CFD (contracts for difference) contracts.

Mini account holders usually gain access to basic features, which can be increased as the trader steps up the account level.

Mini account pros

What are the benefits of using a mini account?

New traders need to be encouraged, and brokers make this easy for them by introducing a low entry bar for these traders. These accounts do not need to be heavily capitalised.

They are accessible to a greater number of traders. Most people can find £100 to trade with, but not the VIP-level amounts.

They are suitable for a learning experience in the real money trading arena. Mini accounts provide a suitable transition from a demo account to real money trading.

Mini account cons

The biggest issue with mini accounts is that these accounts are not suitable for traders with some level of experience. Once some experience has been acquired by the trader and the desire to start trading larger positions sets in, the mini account will no longer be suited for such purposes.

In addition, mini accounts lack some of the essential features that may enhance trading outcomes, which available to other traders. It is not unusual to see a standard or VIP account holder being given access to daily market analyses and very regular updates, but mini account holders are lacking some of these facilities.

Example of the different types of trading account

The snapshot says it all. The basic account here (which is the mini account) does not offer technical analysis, does not allow scalping and commissions on CFD trades are higher than the standard and VIP accounts (premium and advanced accounts shown here).

Regulated brokers that offer a mini account

Traders such as XTB offer a mini account, which they refer to as a basic account. Their basic account offers fixed spreads, with a minimum spread of 2.0. For their standard and pro accounts, they offer clients floating and market spreads, respectively, with much lower minimum spread values. Guaranteed stop loss is also a feature of the XTB basic account.

In conclusion, a mini account as an online trading setup is the most appropriate account for those who want to make the transition from demo trading to live account trading, however, once a trader becomes more advanced, they will most likely require a standard account to meet their needs.

Why choose XTB
for mini accounts?

XTB scored best in our review of the top brokers for mini accounts, which takes into account 120+ factors across eight categories. Here are some areas where XTB scored highly in:

16+ years in business

Offers 1,500+ instruments

A range of platform inc. MT4, mirror trader, web trader, tablet & mobile apps

24/7 customer service

Tight spreads from 0.20pips

Used by 230,000+ traders.

XTB offers three ways to tradeforex, cfds, social trading. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

XTB have a AAA trust score. This is largely down to them being regulated by financial conduct authority, segregating client funds, being segregating client funds, being established for over 16

Trust score comparison

XTB	avatrade	IG
trust score	AAA	AAA	AAA
established in	2002	2006	1974
regulated by	financial conduct authority	central bank of ireland, ASIC, IIROC, FSA, FSB, UAE and BVI	financial conduct authority and ASIC
uses tier 1 banks
company type	private	private	private
segregates client funds

A comparison of XTB vs. Avatrade vs. IG

Want to see how XTB stacks up against avatrade and IG? We’ve compared their spreads, features, and key information below.

Fxdailyreport.Com

10 best forex brokers with highest leverage

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker

Before we delve into the pros and cons, it is worth explaining what leverage is.

What is leverage ?

Pros of trading with high leverage forex brokers

Increases capital efficiency

In essence, this means that your capital and revenues will be freed up sooner and can be reinvested more times to deliver the most significant and fastest yields possible.

Trading with low capital

Eases low volatility

Heavier loss risks

A constant liability

Note that the higher the leverage amounts in the trade, the more interest you will incur and the commission the broker will charge to open the contract.

This could mean that any standing positions that could have run on to deliver massive profits are closed out early in addition to settling losing positions that may never recover.

Which forex brokers offer a welcome bonus and won’t scam me?

A reader has asked: which forex brokers offer a welcome bonus and won’t scam me?

The quick answer is this, none. No decent broker will offer you a welcome bonus for signing up. If they are it is likely a scam so stay well away from them.

Why are welcome bonuses in forex trading a scam now?

Welcome bonuses being offered by spread betting brokers in the UK started innocently enough. I think it was city index that offered £100 if you opened an account with them. Much the same as the new account incentives from the high street banks. However, over time as competition hotted up within the derivatives trading section, the bonuses got bigger and the criteria for getting them became more stringent.

For a while, there were good opportunities for taking advantage of welcome offers from reputable brokers. You could arbitrage trades between brokers, and switch brokers to execute trader you would be doing anyway to claim a welcome bonuses. Which was essentially a rebate based on volume.

Then it all got out of hand as binary options brokers started setting up offshore and fleecing people. Essential making the criteria to withdraw the bonus so impossible to achieve that in order to fill it they would have B-booked any funds deposited.

It was a very dark time for the industry.

Regulators and welcome bonuses for trading accounts

Regulators such as ESMA and the FCA have been cracking on incentives including welcome or trading bonuses, as they are seen by the regulators as encouraging clients to overtrading, or undertake actions that they wouldn’t have taken in the absence of that incentive.

Particularly where the bonus offer is volume related i.E. You have to trade a certain number of lots in a fixed time frame to access the bonus.

Bonus incentives are a form of marketing and CFD brokers that offer them have taken a decision to spend their marketing budget in this way to attract new customers, and to do so they will make the offer sound as attractive as possible.

However, those brokers would rather not payout that bonus if they can help it. And they will often attach a long list of conditions that have to be met before you qualify for the bonus.

Even if you meet those conditions and get the bonus you may not be able to withdraw those funds from your trading account. If you do open an account because of a bonus offer then make sure you understand exactly how the bonus offer works and as ever only trade with reputable and regulated brokers. You can compare FX brokers on the good money guide by clicking this link

Finally, I am sorry to say that if a bonus is important to you then it may be that you are undercapitalised for trading and should wait until you are in a better financial position and have more risk capital available to you.

Richard founded the good money guide (previously good broker guide) in 2015 and has been a broker for 20 years most recently at investors intelligence and previously a multi-asset derivatives broker at MF global (man financial). Richard started his career working as a private client stockbroker at walker crips and phillip securities (now king and shaxson) after interning on the NYMEX oil trading floor in new york and london IPE in 2001 & 2000.

Compare options trading platforms

Options trading platforms let you speculate on financial markets. The best options trading brokers can offer cheaper fees for trading, access to the most markets and deposit protection. Compare options trading brokers based in the UK to choose the best broker for you.

What are options and how do you trade them?

Buying options is one of the most versatile and low-risk ways to speculate on the financial markets. However, as well as being low risk when buying, if you are shorting options can be incredibly risky (more so than futures).

We cover the basics of options trading here:

Compare options trading brokers in the UK

If you are looking for a broker to trade options and want to compare options trading brokers in the UK here are the main things to look out for:

Are they FCA regulated? You can check the FCA register here.

What is the commission per lot

Will the options broker allow you to sell options as well as buy

Are options cross-margined with other products (so you don't double up on margin)

How experienced are the brokers you are dealing with

Does the options broker allow options strategies or just one off trades

What market coverage does the broker offer i.E. Stock, forex, commodity or index etc.

Best options trading platform for beginners

It's important that if you are a complete beginner to investing you should accept that options may not be for you. Options can be quite simple and quite complex and in many cases, there is the risk of losing your entire premium.

So if you are a beginner options trader and looking for a platform, make sure you have significant experience in trading and investing. And most importantly make sure your broker understands that you are a beginner to options trading.

Many options brokers can provide advice on strategy and execution (although not on what to buy or sell). Options brokers also understand the market well so don't be afraid to trade over the phone to make sure that you explain exactly what you want to do.

Options trading brokers comparison in the UK

Most options brokers find the clients will trade options as part of an overall portfolio for hedging or speculation. So, if you want to compare options brokers in the UK take a look at our options broker comparison table to see if the options broker offers additional services that are required for your overall investment objectives.

List of UK equity options brokers and where to find it

Trading UK equity options are one of the most popular ways to protect and hedge an overall long equity portfolio. We provide a list of UK equity options brokers in our options broker comparison table.

How to get low commission from an options broker?

Just ask. All commission with brokers (especially options brokers) are negotiable. So if you are doing the volume ask for a reduction in your options commission.

UK options broker reviews

You can read reviews of options brokers in the UK by clicking on the relevant links below or in our option brokers comparison table. Our options broker reviews cover client testimonials, regulation, market coverage, trading platforms and customer service.

For a list of DMA and futures brokers that offer options to institutional clients based in the UK that are regulated by the FCA see our specific comparison tables. Here's where you'll find all expert & client broker reviews featured on good money guide.

ABOUT

The good money guide is a london based guide to trading and investment accounts for clients based in the UK, europe, asia, south africa and australia. For more information on how this site makes money please find out more about us.

Disclaimer

The information contained in this website is for informational purposes only and does not constitute financial advice. The material does not contain (and should not be construed as containing) investment advice or an investment recommendation, or, an offer of or solicitation for, a transaction in any financial instrument.

RISK WARNING

ALL INVESTING INVOLVES RISK. Investing, derivatives, spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved.
ESMA & FCA risk warning – “cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 68-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money. Capital at risk”

Contact us

Phone: 0203 865 4698
address: 4 old park lane, london, england, W1K 1QW
send A message
press & media

Take your investing
to the next level

IBKR provides clients from all over the globe with the
ability to invest worldwide at the lowest cost. 1

Lowest costs

Our transparent, low commissions, starting at $0 2 , and low financing rates minimize costs to maximize returns. 3

Global access

Invest globally in stocks, options, futures, currencies, bonds and funds from a single integrated account.

Premier technology

IBKR's powerful suite of technology helps you optimize your trading speed and efficiency and perform sophisticated portfolio analysis.

AWARD WINNING PLATFORM + SERVICES

Experience the lowest costs
in the industry 1

learn more

Discover a world of opportunities

Invest globally in stocks, options, futures, currencies, bonds and funds from a single integrated account. Fund your account in multiple currencies and trade assets denominated in multiple currencies. Access market data 24 hours a day and six days a week.

Graphic is for illustrative purposes only and should not be relied upon for investment decisions.

Leverage technology built to help you
get ahead

Powerful enough for the professional trader but designed for everyone. Available on desktop, mobile and web.

Spot market opportunities, analyze results, manage your account and make better decisions with our free trading tools.

100+ order types – from limit orders to complex algorithmic trading – help you execute any trading strategy.

Real-time trade confirmations, margin details, transaction cost analysis, sophisticated portfolio analysis and more.

New at interactive brokers

Interactive brokers launches innovative sustainable investing tool

Interactive brokers unveiled an innovative, interactive impact dashboard designed to help clients evaluate and invest in companies that align with their values.

Introducing the mutual funds marketplace

Interactive brokers' mutual funds marketplace offers availability to more than 37,000 mutual funds, including over 33,000 no load and 8,300 no transaction fee funds from more than 380 fund families.

Interactive brokers group donates $5 million to aid coronavirus response

Interactive brokers group, inc. Has donated $5 million to assist efforts to provide food and support for people hurt by the coronavirus in the united states, as well as to advance medical solutions.

IBKR securities class action recovery service receives four payouts

The IBKR securities class action recovery solution is an automated service that removes the administrative burden of participating in a securities class action lawsuit. To date, 190 clients have received their portion of recoveries.

Optimize lot matching to win at tax time

Interactive brokers' US clients have the freedom to choose the pricing plan best aligned with their investing needs and can switch between plans as their investing needs change.

Market commentary delivered to your inbox

IBKR's traders' insight provides daily market commentary, while the IBKR quant blog provides the latest news and sample code for data science and trading. Sign-up for delivery of either to your inbox.

Interactive brokers takes top spot in barron's best online brokers 2020

Interactive brokers ranked #1 best online broker in barron's 25th annual ranking of the best online brokers. Learn more about all our recent awards.

A broker you can trust

When placing your money with a broker, you need to make sure your broker is secure and can endure through good and bad times. Our strong capital position, conservative balance sheet and automated risk controls are designed to protect IBKR and our clients from large trading losses.

Excess regulatory capital*

Daily avg revenue trades*

*interactive brokers group and its affiliates. For additional information view our investors relations - earnings release section by clicking here.

Choose the best account type for you

Step 1

Complete the application

It only takes a few minutes

Step 2

Fund your account

Connect your bank or
transfer an account

Step 3

Get started trading

Take your investing to
the next level

FINRA brokercheck reports for interactive brokers and its investment professionals are available at www.Finra.Org/brokercheck

Rated lowest cost broker by stockbrokers.Com annual online review 2020. Read the full review.

IBKR lite provides commission-free trades in US exchange-listed stocks and etfs. For complete information, see ibkr.Com/commissions.

Lower investment costs will increase your overall return on investment, but lower costs do not guarantee that your investment will be profitable.

Average net benefit is calculated using IHS markit® price improvement and IBKR monthly execution statistics. For more information see ibkr.Com/info.

For complete information, see ibkr.Com/compare.

A message from our CEO regarding COVID-19

Dear clients, business partners, and colleagues of interactive brokers,

IBKR has been on the leading edge of financial services technology throughout its 35 year history and we have always taken pride in the innovative ways we bring a high value, high integrity, safe service to our clients around the world.

The COVID-19 global pandemic has triggered unprecedented market conditions with equally unprecedented social and community challenges. Like many people, companies and governments around the world, we have focused on how to navigate these uncharted waters.

We are committed to ensuring the highest levels of service to our clients so that they can effectively manage their assets, portfolios, and risks.

We are satisfied that our technical infrastructure has withstood the challenges presented by the extraordinary volatility and increased market volume. We understand that the dramatic increase in service inquiries has led to longer wait times, which has no doubt been frustrating. We encourage our clients to explore the wide range of online information services we provide on our public website and the client portal.

We traditionally take a conservative stance to risk and we have built risk management systems designed to weather even the current market turmoil. The financial health of the interactive brokers group, and all of its affiliates, remains robust.

We are a truly global broker, with offices and staff located around the world. We have the ability to run the business from a variety of our locations with minimal risk of disruption. If some offices must temporarily close due to the spread of COVID-19, we can continue to offer our core services from other offices.

We have been taking steps to protect the well-being of our employees, incorporating health and safety best practices into our strategy as rapidly as possible following published government guidelines. Our employees are an integral part of the IBKR community and are essential to our future.

We appreciate your business and the faith you have placed in us, and most importantly, we wish you safe passage through these uncertain times.

President and CEO, interactive brokers group

Interactive brokers ®, IB SM , interactivebrokers.Com ®, interactive analytics ®, IB options analytics SM , IB smartrouting SM , portfolioanalyst ®, IB trader workstation SM and one world, one account SM are service marks and/or trademarks of interactive brokers LLC. Supporting documentation for any claims and statistical information will be provided upon request. Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial.

Options involve risk and are not suitable for all investors. For more information read the "characteristics and risks of standardized options". For a copy call interactive brokers' client services on 312-542-6901. Before trading, clients must read the relevant risk disclosure statements on our warnings and disclosures page. Trading on margin is only for sophisticated investors with high risk tolerance. You may lose more than your initial investment. For additional information regarding margin loan rates, click here. Security futures involve a high degree of risk and are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading security futures, read the security futures risk disclosure statement. For a copy click here. Structured products and fixed income products such as bonds are complex products that are more risky and are not suitable for all investors. Before trading, please read the risk warning and disclosure statement.

Best forex brokers with ZAR accounts 2021

We researched 10+ forex brokers that offer ZAR trading accounts, and have listed the best in terms of fees & features.

ZAR forex trading accounts are quite useful for traders in south africa. This will help you avoid losses in fees during the conversion of currency on deposits or withdrawals.

Having a ZAR account implies that all your funds with the broker will be kept in rand. In most cases, this would mean the broker likely has local bank account so you can access quick and convenient withdrawals and deposits through bank transfer.

However, only a few forex brokers in south africa offer ZAR trading accounts. Most of them claim to provide more or less similar trading environment and features. So choosing the best ZAR account broker is not easy.

7 best SA forex brokers that offer ZAR accounts

Hotforex – best ZAR account forex broker in south africa

Exness – ZAR account forex broker with low minimum deposit

XM – low spread ZAR account broker

Plus500 – good forex trading platform with ZAR account

Fxpro – trusted ZAR account broker

Marketsx – overall good ZAR base currency account

Blackstone futures – FSCA regulated

For this guide, we have done extensive research of 10+ forex brokers offering ZAR accounts to help you out. Then, we have chosen only the highly regulated and reliable brokers working in the south african market.

For the safety of your funds, even if your consideration is ZAR base currency account, you must still trade with only brokers that are well regulated with FSCA or other top tier regulators like FCA, ASIC.

Best forex brokers with ZAR account

Bour research offers a comparison of the top regulated forex brokers offering ZAR trading accounts. This includes overall fees (spread +commissions), trading conditions, platforms, and local support.

1. Hotforex – best ZAR account forex broker

Overall rating 9.1/10

Trading fees (USD/ZAR): 90 pips on average for USD/ZAR with premium account .

Minimum deposit: R75

Regulation: FSCA, FCA

Bonus offer: 100% deposit bonus for new first time signups ($250+ or ZAR 40,000+ approx. Deposit required)

Ranked #1 ZAR account forex broker in south africa

Hotforex is one of the best ZAR account forex broker for traders in south africa. They are locally regulated with the south africa financial security conduct authority – FSCA (FSP no.46632). Plus, they have been regulated by 2 other tier-1 regulators FCA and CYSEC. Thus we consider HF markets safe for traders in south africa.

Hotforex offers direct marker access being an STP broker. This means your orders get straight-through processing with no dealing desk. Orders are placed directly with their liquidity providers. Therefore conflict of interest is absent.

Fees: we compared their fees and found the cost to be quite fair (though not the lowest). In terms of fees for trading, hotforex has the lowest spread with the zero account. There is no fee for deposits or withdrawals.

The average USDZAR spread with the HF premium account is around 90 (variable as per market conditions). For a zero account, it is usually around 45 pips. Premium account is a commission-free spread only. Zero account has a spread of + $6 per 100,000 units (1 standard lot).

Fair trading conditions: hotforex offers you 50 currency pairs including exotic, minors, and majors. Its trading instruments also include cfds on 56 shares, 4 cryptocurrencies, leading 11 indices globally, 8 commodities, 3 top global bonds, energies such as crude and brent oil, US natural gas, and spot metals – silver and gold. HF offers trading on the latest MT4 and MT5 platforms for all devices.

The minimum balance for opening an account is ZAR 76 approx. & there are no deposit or withdrawal fees. The max. Leverage offered is up to 1:1000 and the speed of order execution is fair. HF also allows scalping, hedging, eas, and swap-free accounts.

Good support: hotforex has a local phone number in south africa (+27-10-443-9924, 0-800-999-265). The live chat support is quick and helpful available 24X5 on weekdays. We did not experience a hold time of above 1 minute while connecting anytime.

Regulated with FSCA in south africa & FCA in the UK

Spread for premium and micro account is quite competitive. With zero account it is low.

New accounts can avail 100% deposit bonus

Very good customer support

No fees for deposit or withdrawals.

Customer support not available during weekends.

2. Exness – ZAR account broker with low minimum deposit

Overall rating 9.0/10

Trading fees (USD/ZAR): 194 pips on average for USD/ZAR . 1 pips for EUR/USD.

Minimum deposit: $1 (R15)

Regulation: FCA, FSCA, cysec

Ranked #2 ZAR account forex broker

Exness is one of the largest forex broker in terms of average daily trading volume. Exness is licensed by 3 top tier regulations i.E. FSCA, FCA & cysec, so it is considered a safe broker.

Fees: the trading fees at exness is very low compared to other forex brokers. With their standard account the average spread is 1 pips for major pair EURUSD, and the spread is much lower with pro account.

Wide trading instruments & features: exness offers over 100+ currency pairs, and cfds on 100+ metals, crptos, stocks & indices

The highest leverage at exness is 1:2000. Exness offers MT4 & MT5 trading platforms.

Good support: customer support at exness is very good. They offer support via email, live chat & phone support as well.

4. Plus500 – good forex trading platform with ZAR account

Overall rating 8.9/10

Trading fees (USD/ZAR): 160 pips on average for USD/ZAR . 0.8 pips for EUR/USD.

Minimum deposit: R1500

Regulation: FCA, cysec, ASIC

Bonus offer: 100% deposit bonus for new first time signups ($250+ or ZAR 40,000+ approx. Deposit required)

Ranked #4 ZAR account forex broker

Plus500 is one of the leading forex trading platform. They are well regulated with multiple top tier regulators including with ASIC, FCA & cysec. Moreover, their company is also listed on the london stock exchange and is thus considered a relatively safe broker for traders in SA.

Fees: plus500 offers competitive spread to the traders – as low as 0.6 pips for the benchmark EUR/USD. They also do not charge any fees for withdrawals or deposits.

Moreover, there is no other volume/lot based commission on forex trade. The only fees that it charges are the spread.

Trading conditions & features: there is only a single account type for retail traders at plus500. The minimum deposit is ZAR 1500 and the max. Leverage is 1:300 for SA traders. The broker also provides protection for the negative balance and assured stop-loss protection. This is without charging any additional fees.

Traders can choose from 71 currency pairs, 1000+ cfds on stocks. The other asset classes include 8 commodities, 7 cryptocurrencies, 8 indices, 6 energies, and 4 precious metals.

Plus500 offers you its proprietary trading platforms for web and mobile trading. On the downside, this platform is not accessible in desktop.

Decent support: customer support is available through live chat, email & whatsapp. There is also a decent faqs section for self-help.

Live chat support can be accessed only when logged in. It is necessary to fill contact form for availing e-mail support. On testing, we received a response within 1 hour on a weekday.

Regulated with 2 tier 1 regulators FCA and ASIC.

Competitive spread for forex majors and crypto cfds.

Their platform provides access to 15 crypto cfds.

No charges for withdrawals and deposits.

Good mobile platform/app.

Good risk management features including guaranteed stop loss protection & negative balance protection.

Plus500 proprietary platform for trading is not accessible on desktop.

Third party popular metatrader or ctrader platforms are not available.

Account options are limited.

Education section for traders is very limited.

Why choose a ZAR account forex broker?

There are a few advantages to trading with a broker that offers ZAR base currency accounts.

A. Depends on your mostly traded trading instrument:
this is if your account is funded through the most frequently traded quote currency. For instance, if you mostly trade south african rand pairs with quote currency in ZAR such as USDZAR, EURZAR, GBPZAR, then there may be certain advantages to opening ZAR account.

If your account is funded in ZAR, then your account balance will be in rand, and all your profits too will by default be converted into ZAR (rand) once you close the trade. In case you are trading mostly ZAR quote currency pairs, then a conversion transaction will not be required. You will also save the commissions if your broker charges commission for the transaction to convert.

It is preferred if your account currency is the same as the quote currency of your most traded pairs. If not, you will lose during the re-conversion of funds to your funding currency each time you trade. You may have to pay an extra commission each time you trade if the broker charges for conversion. This could add up to much eventually.

B. Conversion charges during withdrawal (by your bank and/or the broker):
once you decide on the withdrawal, you will want to get withdrawal from your broker in your south african bank account.

In case you hold a ZAR account, the broker can directly send your withdrawal in rand. Instead consider a case where you request the withdrawal in USD (if your base currency is US dollar), then your bank, broker (or both) may charge you fees for the USD wire transfer to your SA based bank account.

Here, the currency conversion fees/spread on exchange rates of anywhere from 2%-6% could be charged by your bank. If the USD/ZAR exchange rate is 19, your bank will charge its fees on the exchange rate and offer you around 18.6. Your broker and bank may also levy wire charges for receipt of USD payments.

But in case of ZAR account, it is very likely that the rand withdrawal transfer by broker be from the broker’s local bank account in south africa.

This will save you the fees for withdrawal that can incur for your wire withdrawals.

Comparison of forex brokers with ZAR accounts

Below comparison table shows the features, fees of SA forex brokers that offer ZAR accounts.

ZAR forex broker	regulation	average spread (EUR/USD)	leverage	minimum deposit	visit website
hotforex ZAR account	FSCA, FCA, cysec	1.2 pips with premium account	up to 1:1000	$5 (

Frequently asked questions: ZAR account forex brokers

Which is the best forex broker that offers ZAR trading accounts?

According to our comparison these 3 brokers offer ZAR base currency option & are better than most other brokers out there for similar features:

FSCA regulated & offers ZAR account: hotforex

Good trading app: plus500

Low spread: XM broker

Are there any advantages to opening a ZAR trading account?

Yes, there are some benefits but it mostly depends on your choice.

If you mostly trade on rand pairs like USD/ZAR then it is preferred to open a ZAR account with the broker. As you could save on the conversion losses.

Moreover, another plus point to creating ZAR account over USD or EUR, is that you can make deposits & withdrawals in rand. In this case, there will be no losses on exchange rates or transfer fees that would be charged by your bank (or broker) if you were to say make transfer to your broker in USD.

Which ZAR base currency account forex brokers are regulated with FSCA?

As per our research, there are about 10 FSCA regulated forex brokers that offer ZAR accounts. We have listed 3 such brokers here in our list (last updated in august 2020): hotforex, fxpro & blackstone futures. We will add more ZAR account offering brokers in this list once we have compared their features & fees.

In terms of fees (USDZAR benchmark) – hotforex has 90 pips spread on average with their premium account (1.2 pips for EURUSD). Blackstone futures has spread as low as 10 points (variable) for USD/ZAR currency pair.

ZAR account brokers comparison summary

Here are our 2020's 3 recommended best forex brokers with ZAR account.

Trading cfds is risky. Your capital is at risk.
Disclosure: we earn a commission if you sign up with a broker through referral links in this review. This helps us cover the expenses for running the website.

Hotforex is the #1 ZAR account broker

Forexbrokers.Co.Za is a broker comparison & education website for south africans. We aim to help traders in south africa find the best forex brokers. Read more..

Best rated forex brokers

Helpful links

Best south african forex brokers

Forex trading in south africa

Best ECN brokers

FSCA regulated forex brokers

Best bitcoin brokers

Forex trading platforms in south africa

Forex trading apps in south africa

Metatrader 4 brokers in south africa

Best forex brokers that offer ZAR accounts

No deposit bonus forex brokers in south africa

Best forex brokers for beginners in south africa

Risk disclaimer

Risk warning: trading leveraged instruments such as forex & cfds are risky and can result in lose of your capital. Read full risk disclaimer..

So, let's see, what we have: looking to open up a new brokerage account? I've researched countless offerings and put together this list of best brokerage account promotions. At broker offers