SWIFT Codes for Banks in South Africa

We have compiled 10 best-performing forex brokers that are suitable for swing traders in South Africa.

• IC Markets: IC Markets is particularly suitable for traders who value easy trading execution and low trading costs.
• Exness: The broker is regulated by several trusted authorities such as the FSCA, FCA, and CySEC.
• Khwezi Trade: Khwezi Trade supports Rand-based forex and CFD trading with a wide range of trading instruments.
• FXTM: The broker supports MetaTrader 4 and 5 as trading platforms, both of which can be accessed from various devices such as PC, laptops, tablets, and/or mobile phones.
• FBS: Traders can open a trading account with only $1 and there is no inactivity fee.
• AvaTrade: When it comes to trading fees, AvaTrade offers a fixed spread of 0.9 pips per trade.
• FxPro: The broker also provides customer service that responds quickly and is able to provide relevant answers in multiple languages.
• FP Markets: One of the greatest advantages of this broker is that it uses true ECN bridges and advanced technology.
• Pepperstone: Pepperstone is often considered to be the best broker in Australia that's suitable for almost any kind of trader including swing traders.
• HF Markets: Conveniently, HF Markets offers a ZAR trading account for South African traders as well as USD and EUR accounts.

Continue Reading at 10 Brokers for Swing Trading in South Africa

The FSCA must regulate forex brokers before they are allowed to offer their services to South Africans. To minimize unscrupulous activities, brokers must also report all trades. The regulator seeks to promote fair competition between brokers. The FSCA is expected to mediate the parties involved if a conflict arises.

For South African forex traders, a license from the FSCA is likely a sign of reliable brokers. The FSCA-regulated brokers have a reputation for treating their customers fairly and helping educate them about finance. Should traders feel they have become victims of fraudulent activity, they can file a report to the FSCA.

Continue Reading at Is Forex Trading Legal in Africa?

Yes, forex trading is taxable in South Africa. Any South African traders who profit from forex trading within the country's borders are subject to tax.

Continue Reading at Do Forex Traders Pay Tax in South Africa?

According to South African rules, a fixed tax of 28% from taxable income applies to any forex trading conducted through a company registered in South Africa.

Continue Reading at Do Forex Traders Pay Tax in South Africa?