The Top Five South African Scalping Brokers

Not many forex brokers allow scalping, therefore we've produced a list of the top five that do while also providing excellent trading conditions.

XM Overview

The MT4 and MT5 platforms on the XM platform allow traders to trade more than 1,000 different financial instruments.

More than 99% of business transactions are completed in under a second, and the company serves more than 2.5 million customers in 190 countries who speak 30 different languages.

Pros

• minimal deposit amount

• offering of comprehensive education

• Streamlined procedure for creating accounts

Cons

• On live accounts, an inactivity fee is assessed after 90 days.

• a small product range

Features

• DFSA, IFSC, ASIC, CySEC, FCA

• Minimum investment is $5; typical spread is 0.1 pip

• commissions starting at $3.5 every $100,000 exchanged

• Deposit/Withdrawal Fees None

• Bonuses with a Maximum Leverage of 1:30

• Trading Bonus of $30

• 24/7 customer service

Overview of IFX

A South African broker named IFX has helped clients with transactions on a variety of financial marketplaces since 2018. The trading conditions at IFX Brokers are among the best in the market, with fair fee schedules and leverage of up to 1:500.

Pros

• High leverage is offered.

• MetaTrader 4 can be used.

• There are learning resources accessible.

• Negative Lax regulation

Features

• Minimum deposit of 100 ZAR Average spread beginning at 0.5 pips

• Deposit and withdrawal charges

• Highest Leverage 1:500

• Bonuses

• 24/7 customer service for NA

Markets.com Overview

Award-winning proprietary trading platforms from Markets.com include MT4 and MT5, and all three of them are supported.

The multi-asset trading platform Markets provides its customers with a wide range of services in addition to more than 14 fundamental, technical, sentiment-based trading tools and expert analysis.

Pros

• Zero-commission trading

• minimal deposit amount

• Fixed, tight spreads

• Various types of tradeable assets

Cons

• Customer service might be sluggish.

• The Pro Account is the only place to find the greatest trading conditions.

Features

• CySEC, FCA, ASIC, FSC, and FSCA regulations

• Minimum down payment of $100

• average spread starting at 1.9 pip

• commissions starting at 1%

• No fees for deposits or withdrawals

• Leverage at Max 1:300

• $25 No Deposit Bonus as bonuses

• 24/7 customer service

A Summary of Tickmill

The outstanding reputation of Tickmill is partly attributable to the broker's highly praised trading terms, which include, among other things, zero-pip spreads, no dealing desk execution, and support for all trading philosophies.

Pros

• affordable prices

• A well-run system

• maximum leverage

• contemporary trading software

• Model STP

Features

• Minimum down payment of $100

• Average spread starting at 0.1 pip

• Deposit/Withdrawal Commissions from 2 per side for every 100,000 transacted Fees None

• Maximum Leverage 1:500

• Bonuses $30 Welcome Bonus

• Customer Support 24/5

Pepperstone Overview

Traders in the forex and CFD markets can take advantage of Pepperstones competitive pricing, first-rate customer service, and extensive selection of third-party platforms.

Among the agency execution brokers, Pepperstones commission-based Razor Account stands out as the most competitive in terms of cost.

Pros

• No minimum deposit

• Low trading fees for forex

• No added costs for withdrawals or deposits

Cons

• Limited number of instruments

• No additional research tools

Features

• Regulation FCA, ASIC

• Minimum deposit from AUD200

• Average spread from 0.4 pips

• Commissions from ‎$3.76 commission per lot per trade

• Deposit/Withdrawal Fees None

• Maximum Leverage 1:500

• Bonuses None

• Customer Support 24/5

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Scalping provides a profitable avenue for forex traders in the market. Knowing the best service providers should be your first consideration.