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Best forex trading platforms for South Africans


Johannesburg, 18 Aug 2020
Read time 5min 10sec

Forex trading has gained much ground over the past few years, and one of the prime reasons why it took off is that getting access to currency markets has never been so easy. It is only natural that the number of people who decide to take a stab at forex trading is constantly on the rise.

As you might expect, the movement of currencies is hugely volatile, which is what intrigues many traders. Interestingly enough, figures show that the average daily forex trading volume is approximately $5.1 trillion, which proves how huge the demand is.

Investors are spoiled for choice when it comes to the online brokerage platforms they can decide on. This also applies to traders from South Africa as the platforms that accommodate their needs are aplenty. Still, before they settle on any of the brokers that facilitate forex trading, investors should see to it that they will pick a platform that lives up to all their requirements.

Keep on reading below in order to find out which are the front-and-centre forex trading platforms for investors from South Africa.

MetaTrader 4

Traders from South Africa who are currently on the lookout for a brokerage platform to join should consider visiting MetaTrader 4. Known also as MTM 4, this is one of the most widely used electronic trading software available out there, and one of the different platforms explained here.

It is a multilingual platform where investors can benefit from trading signals and expert advisors, which can undoubtedly enhance the trading experience they will enjoy.

It is hardly a coincidence that the platform is frequented by hundreds of traders from different parts of the world, South Africa included, because it caters to the needs of all investors, no matter how broad their experience is or what their preferences are. The options the platform introduces are genuinely ample as traders can make the most out of advanced technical analysis, algorithmic trading and flexible trading systems, among others.

What further adds to the benefits of the brokerage platform is that all limitations in terms of when or where to access it are stripped down, thanks to the availability of dedicated apps for iOS and Android-based portable devices.

If you are keen on the idea to gain a better knowledge of this software, you might find the tutorial for MT 4 with navigation explained exceptionally useful.

MetaTrader 5

Standing out as a multifunctional and easy-to-use brokerage platform, MetaTrader 5 is also a viable option for traders who have gone in search of a broker that lives up to their requirements.

It is a multi-asset platform that is likely to work equally well for you, no matter if you are a professional forex trader or you are a layman. It is home to complete solutions for forex traders as they can make full use of various tools and trading possibilities, including automated trading systems, copy trading, and technical analysis tools, to name just a few.

In essence, this platform can turn out to be the best stop for investors from South Africa, also if they are interested in trading futures and stocks.

With MetaTrader 5, investors will no longer be chained to their computer as its users can stay active at all times by merely accessing the platform through their touchscreen device.

Providing its customers with tons of great opportunities to invest in, MetaTrader 5 is positively among the forex trading platforms that are worthy of attention.

ActiveTrader

Operating in full blast since 2001, ActiveTrader now has a customer base that is numbering in the hundreds and is made up of users from all parts of the globe, including South Africa. So as to ensure that investors will be offered nothing less than an immersive forex trading experience, the platform combines advanced functionalities with the most modern technology.

Unsurprisingly, the customer base of the platform does not cease to expand as it gives investors the opportunity to trade over 500 CDFs. Aside from forex, the platform provides for trading with financial and indices, commodities, shares and ETFs, and options, among others.

Additionally, investors can benefit from an extensive range of advanced features the likes of the Trailing Stop, Hedging, Charts, and Market Sentiment, which allows you to keep up with the direction in which the market is moving. The Progressive Trailing Stop functionality is among the most recent features that were implemented into the platform, and its purpose is to aid investors to preserve their profit.

E-Trade

As far as some of the most flourishing trading platforms go, E-Trade should undoubtedly be mentioned. It was born in the early 80s, and currently, E-Trade is known for the premium experience laymen and professional traders are provided with.

As investors from South Africa will immediately notice, E-Trade is a trading platform that is here to stay as it offers lots of useful tools that will aid them to get started.

Investors will not only benefit from zero-commission trades, but will be provided with a full range of investments as well. Not to mention the fact that those who join the community of the trading platform will have their accounts managed professionally. The variety of the tools that will be in hand when investors join the platform are aplenty, with some of the most useful being risk analysis tools, charting tools and advanced intraday and historical charting, among others.

There are many more benefits of using the services of E-Trade as investors will be offered superb online and mobile trading at all times. Taking on the markets whenever and wherever traders prefer is hardly an issue across tablets and smartphones, no matter the size of their screens. 

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