South Africa is one of the most developed countries in Africa and has long embraced the opportunity of trading in the forex market. What are the best brokers for South African traders?
South Africa is one of the most developed countries in Africa. So, it's not surprising if the country enjoys one of the most reliable and established regulatory bodies in the region for those who want to trade forex (and pursue other economic trading opportunities).
The government of South Africa established the Financial Services Board (FSB) to oversee the South African non-banking financial services industry. The FSB is an independent institution that was established over twenty years ago and has since become a reliable regulatory body for South Africa forex brokers.
The best South African forex brokers will, of course, be obligated to hold a license issued by FSB. However, forex brokers operating in the country without being regulated is not an uncommon sight. We would recommend that to become a successful forex trader in South Africa, you have to choose a broker that is regulated and adheres to industry standards meant to protect traders' funds, such as maintaining segregated client accounts and minimum capital requirements.
Before you begin forex trading in South Africa, consider what type of trading you want to pursue. Do you plan to trade the South African currency, the Rand? Are you looking to trade standard currency pairs such as EUR/USD? No matter what pair (or pairs) you choose, look at the spreads offered by the brokers and make sure you’re getting the best spreads available. Likewise, make sure that your forex broker will allow you to deposit in Rands, if necessary.
What to look for in a South African forex broker?
Despite the general lack of online forex brokers based in South Africa, you can still trade forex through foreign-based online brokers. Generally, an ideal broker will have the following 11 elements:
- Oversight by a reputable financial regulator;
- Excellent reputation among forex traders;
- Allows you to trade in the type of account you prefer;
- Requires an affordable minimum deposit;
- Gives you trading access to all major and minor forex currency pairs and other assets;
- Has a maximum leverage ratio appropriate for your trading strategy and risk tolerance;
- Offers competitive dealing spreads;
- Provides clients with insurance against negative balances;
- Keeps re-quotes and slippage on orders to a minimum;
- Maintains client funds in segregated accounts; and
- Provides withdrawal and deposit options that fit your needs.
Another important factor to consider when choosing a forex broker is platform and trading software. In addition to their own proprietary trading platform, many brokers offer cTrader, NinjaTrader, and the very popular MetaTrader 4 and 5 platforms from MetaQuotes that both support automated trading.
Best forex brokers in South Africa
Forex trading has become extremely popular in South Africa, making the country a truly emerging market for forex trading. When something is emerging, it is worth examining carefully. That's why it's important to be extra careful in selecting a forex broker as there will inevitably be a few such brokerages probably not deserving of your trust.
One issue that many South African forex traders have complained of is that the major global forex brokerage houses are neglecting South Africa, abandoning the field to local brokers who do not always offer competitive spreads, commissions, miscellaneous fees, and other important terms for trading.
To find the best forex brokers in South Africa, we present a list of brokers that confirm South Africa as a country that accepts new customers from. Here's the summary of the best forex brokers for South African traders:
Variable and Fixed and
Trading by telephone
Islamic accounts available
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions, advanced education, and sophisticated trading tools in the forex industry
Now, FXTM is registered with the Financial Conduct Authority of the UK with number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company provides leverage until 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providersto provide the best bid and ask prices.
For beginner traders, FXTM provides an automatic trading facility called algorithmic trading. Traders can develop their trading strategy or adopt other traders' strategy. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they also provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
FXTM provides facilities in the form of education about the basic concepts of forex industry. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
FXTM is considered safe because it is regulated by the top-tier FCA. It accepts clients from many countries, including South Africa. FXTM also offer competitive spreads and affordable initial capital for all types of clients.
Variable and Fixed
Islamic accounts available
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.
Exness covers its lack of feature variations with other advantages like low spreads. For example, the spread for Mini and Classic accounts is only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs for ECN account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as an automatic fund withdrawal system. If a trader withdraws funds through the e-Payment facility provided by Exness, the processing time is instant and goes straight into the account. This means that when traders make a withdrawal, everything happens automatically without human intervention.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable for delays in processing deposits and withdrawals if such delays are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. When trading on Exness, transaction fees are not charged to traders. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
All information displayed on the Exness website is tested and proven. Their business is audited quarterly by Deloitte, which is an audit company for financial services.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers through them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading on Exness, profit opportunities generated by traders also increase with VPS hosting services. This feature helps to maintain trading activities to progress smoothly and without interruption in the event of unexpected troubles such as lost internet connection or electricity problems that shut down traders' PCs unanticipatedly.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also notorious for its maximum support on bot new and existing partners.
Exness is a MetaTrader-only broker regulated in the EU offering multiple account types and forex pairs. Despite the advantages, Exness offering lacks the range of CFDs forex brokers typically offer.
Variable and Fixed
Islamic accounts available
Requires sending documents via postal mail
AvaTrade can be called as one of the most well-rounded brokers that support almost all of trading styles. Not only allowing hedging, scalping, and expert advisor (EA), AvaTrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.
Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. Unlike many other brokers, AvaTrade's traders don't have to pay for getting Autochartist. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.
Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.
In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).
Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.
With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).
AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.
New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them in every step of the way. It is an important piece of equipment as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.
There are many types of account types provided by AvaTrade, including Retail Accounts, Professional Accounts, Options Accounts, Spread Betting Accounts, and Standard Accounts. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.
AvaTrade is a leading international forex broker and is a part of the AVA Group of companies. Founded in 2006, AvaTrade is one of the oldest online brokerages. Our review details the trading platforms, mobile app, deposit methods, and MT4 integration. From Bitcoin to vanilla options, whatever you want to trade, see if Avatrade will suit you.
Trading by telephone
Islamic accounts available
If traders are looking for brokers with elite class regulations, AxiTrader can be the right choice. AxiTrader is an Australian broker registered under ASIC and FCA. This is the main point because the two regulators are widely recognized to have strict regulations.
"Created by traders, and for traders" is a mission carried by AxiTrader since its foundation in 2007. They continue to strive to accommodate the needs of traders. AxiTrader had the strongest brand association with being "trustworthy" among current FX Traders in December 2014.
In addition, AxiTrader also received other awards, including the most reliable Forex Broker 2017, Highest Overall Client Satisfaction Investment Trend 2017, Commenced back-office operations in Philippines, Cyprus & Singapore 2018, Best MT4 Broker 2018 by the UK Forex Awards, and the Most Trusted Forex Brokers by the 2018 Forex Forex Awards. With the various achievements that have been obtained, AxiTrader seeks to build the confidence of traders from all over the world.
Meanwhile, the minimum trade size on Axitrader is 0.01 lots and leverage is up to 1:400. Traders can choose their deposit amount because AxiTrader does not specify a minimum amount. Instead, traders have the opportunity to profit when trading on AxiTrader with a 20% deposit bonus. Opportunities to open positions thus increase, accompanied by deposit bonuses that can be withdrawal easily and quickly.
There are around 80 currencies and CFDs traded on AxiTrader. Besides, the company also offers traders looking for diversified investments in other assets like gold, silver, oil, and 11 indices. To attract the attention of traders from various countries, AxiTrader also provides a variety of currencies that can be used by traders as the base currency, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD.
Traders at AxiTrader can enjoy free VPS provided by third parties by depositing a certain amount. The Virtual Hosting Service uses an external server to ensure the platform stays running 24 hours a day and prevent Downtime. Of course, this service is very useful for those who use Expert Advisors.
When trading forex, chart analysis becomes an unavoidable activity. Traders do not need to worry about that when trading on AxiTrader. Because one of the advantages of the AxiTrader broker is Autochartist signals. This facility is useful for following market movements precisely. For traders who use MT4 Standard Account and MT4 Pro Account, they will get Autochartist signals for free.
Besides being able to easily understand the pattern of price movements through Autochartist, AxiTrader also provides easy access to sophisticated trading tools under the name of MT4 NexGen. The advantage of this platform is to find out trading sentiments, Market Insights, Correlation Traders, and Alarm Managers. With this technology, traders can easily access super-fast networks and can handle any high-frequency inflows to scalping.
Traders can also add knowledge about forex trading with the Webinar facility, which is provided by AxiTrader for free. professional traders and experienced analysts will provide traders with a variety of new trading knowledge in this education program.
Not only that, but AxiTrader also offers other trading experiences such as copying trading strategies from professional traders, with tools like DupliTrade, Myfxbook, and ZuluTrade. Traders are free to copy trading strategies from professional traders and apply them to their own trade.
If there are still other questions, traders can contact Axitrader support that is active 24/5. Their staff comes from all over the world, so they got a global team that speaks traders' languages from various countries in the world.
AxiTrader was founded in 2007 and is an Australian forex broker. It is regulated by multiple financial authorities worldwide, such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Dubai Financial Services Authority (DFSA).
To easily compare the abovementioned brokers, here is the table of comparison:
|Office(s)||Belize, Cyprus, Mauritius, South Africa, United Kingdom||Cyprus, Seychelles, United Kingdom||Australia, France, Germany, Ireland, Italy, Japan, Poland, South Africa||Australia, China, New Zealand, Philippines, Singapore, United Arab Emirates|
FCA (UK), 777911
FSC (Mauritius), C113012295
FSCA (South Africa), 46614
FCA (UK), 730729
FSA (Seychelles), SD025
Central Bank of Ireland, C53877
Financial Futures Association (Japan), 1574
Financial Services Regulatory Authority (Abu Dhabi), 190018
FSA (Japan), 1662
FSC (BVI), 2013-07-30
FSCA (South Africa), 45984
DFSA (Dubai), 2758
FCA (UK), 509746
FSCL (New Zealand), FSP518226
|Minimum Position||0.01 lot||0.01 lot||0.01 lot||0.01 lot|
|Payment||Bitcoin, Credit/debit cards, DIXIPAY, FasaPay, Neteller, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire transfer, Yandex.Money||Bitcoin, Credit/debit cards, Neteller, Perfect Money, Skrill, Tether (USDT), WebMoney, Wire transfer, Yandex.Money||Boleto Bancário, Credit/debit cards, FasaPay, Neteller, Skrill, UnionPay, WebMoney, Wire transfer||BPAY, Credit/debit cards, Neteller, Skrill, Wire transfer|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Arabic, Chinese, Czech, English, French, Hindi, Indonesian, Italian, Korean, Malay, Persian, Polish, Russian, Spanish, Thai, Turkish, Urdu, Vietnamese||Arabic, Bengali/Bangla, Chinese, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Thai, Urdu, Vietnamese||Arabic, Chinese, English, French, German, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Swedish||Arabic, Chinese, Dutch, English, German, Hungarian, Indonesian, Italian, Polish, Thai, Vietnamese|
WAHYUDIJul 27 2020
I registered with fxtm with the name wahyudi
then fxtm agreed to verify my KTP with the name wahyudi
then I deposited with perfectmoney with the name wahyudi
then I traded, and I after there was a slight profit
I want to withdraw
BUT!!! when I want to withdraw, fxtm refuses to verify my perfectmoney named wahyudi, they deliberately refuse to verify my perfectmoney, so my money can't be withdrawn, fxtm refuses with a variety of unreasonable reasons.
be careful trading with fxtm, this broker is Fraud! Fxtm never intends to pay.
DianneJul 27 2020
Rayner LkeaJul 27 2020
Very disappointed when trading on fxtm, the candlestick chart is not the same as the default mt4 chart.
Because of that, I got hit by an MC. It's not about the money, it's about trust. Please improve your service immediately. I only trade a small amount yet still cheated. Can't imagine if I deposit a big amount of money. My... my...
Sicilia RZJul 27 2020
Hi admin, I am new to forex and try to open a demo account on FXTM.
I find it very useful, they provide a forex video tutorial for a newbie like me. thank you FXTM.
JayJul 27 2020
I trade with 2 brokers, one of them is FXTM. I have been trading on FXTM for 1 year, a little of my experience on the FXTM ECN account:
So far there is no problem with FXTM in terms of trading, deposit & withdrawal :)
GeoffreyJul 24 2020
I just traded on fxtm but it was very disappointing.
I took the GBP position, early in the morning the price dropped dramatically to 1.20209.
I check my account on another broker, it hits the take profit. Which made me feel weird because on fxtm the price is up to 1.14677, so my account was negative. When I calculated, my account balance supposed to still strong, but in reality, my account is in minus.
Jeanice GoiJul 24 2020
Hi, just want to share about MT4 trading on fxtm, it's been around 7 months and during that time, I've never experienced freeze on its mt4. Nice job. And for my account manager, thanks for the support
MaryJul 24 2020
Withdrawal in fxtm via fasapay is very fast! Like cooking an instant noodles XD
For those who don't like to wait, withdrawal in fxtm is very recommended
Hardy TnJul 24 2020
I think this broker deserves a value of 8, especially for its customer service and WD DEPO services. Success for FXTM
Adriana NellaJul 24 2020
FXTM is not the only broker I use, but I could say that this is the best. When NFP released, my account at another broker is crashed, it couldn't be executed. There was a completely dead, just can't log in. like how to trade news :)
but on the contrary, my FXTM ECN platform is still running normally even in a hectic market condition. FXTM ECN account is very reliable for scalping.
Halim KJul 24 2020
Just a little experience, for those who like Scalping, ECN accounts on fxtm is recommended. It has a fairly low spread and execute on MT4 very fast. This is what I like.
Pretchavvan SajmanooJul 24 2020
A little testimonial for FXTM. Yesterday, I withdraw on cent account, in 10 Minutes, the fund already landed on my Fasapay account.
Geekie BoiiJul 24 2020
Thanks God, cent accounts at FXTM are gradually growing. I'm using FXTM Cent accounts including Nano (can open 0.01 positions and maximum OP to 300 open positions) is not bad for those who use EA
John MJul 24 2020
Excellent support. 2 thumbs up for the FXTM account manager, fast response either by telephone or by email.
Charlie ChiakyJul 24 2020
I traded on FXTM for 6 months with an Ecn Zero account with a leverage of 1: 1000.
My experience using Ecn Zero: fast execution, stable server, spreads starting from 0.5
I rarely encounter requotes and slippage on FXTM. Overall, FXTM is good for me.
Rommel DjayJul 24 2020
I have accounts at 4 brokers, one of them at FXTM. At FXTM, I use an ECN account because I can use any technique there. I am satisfied with the very fast execution and spread on FXTM ECN is relatively small. FXTM is recommended in terms of support, MT4 platform, and spreads
Linda SilversteinJul 24 2020
FXTM broker is quite good in my opinion, specifically for customer support and my account manager who has been very helpful to me when there are problems with my account. thanks FXTM
Gerdino JacqueilleJul 24 2020
It turns out that FXTM has many types of accounts: ECN, Standard, ECN Zero, Strategy, Pro Account, etc. There are many trading and investment instruments such as forex, precious metals, Stock CFDs, ETF CFDs and Commodity CFDs. Its trading features are easy and very helpful, for example, free of swaps and without commissions and without any hospitalization fees or fees except for very small spreads.
A few months ago I traded with a capital of USD 400, and within 1 month I reached a profit of up to USD 16,000. Again, I also really experience FXTM, this international broker based in Cyprus is very responsible and takes into account the interests of its clients and traders.
Yesterday morning, I was shocked that gold fell and the account had lost USD 1,368.80 due to Error Quotes. But in the afternoon, I got an email from the FXTM Compliance Dept. and a number of illicit loss (forbidden and undesirable losses) that I suffered turned out to get compensation in the form of compensation a refund of USD 1,368.80.
This is very impressive, and this is the first time I've experienced it. Thanks FXTM. Proficiat for new offices in the UK. GBU.
Sigit WJul 24 2020
In real trading, I often experience Slippage, and there is always a widening of the spread, for example in GBP / USD the spread often widens to 60-70. And I have experienced it myself. I hope this will be useful info for other traders. Regards.
YuNaJul 27 2020
They keep getting better every year, so I decided to re-activate my account. The support helped me a great deal for it
Alex JoannJul 27 2020
My mentor suggested Exness when I was still new. They really help me to grow my account and never give any significant problem during my learning phase. Thanks Exness
Clara91Jul 27 2020
I only want to trade in a reliable broker, and for me, exness has what it takes to be a reliable broker
John Wallace PJul 27 2020
Used to trade in another broker and everything was difficult. I never feel similar diificulties from Exness. Keep up the good work!
nickycloudJul 27 2020
I registered based on my friend's recommendations.
So far so good. I can see why many traders favor this broker
Jenny ADJul 27 2020
Quick withdrawal and I got what I need in their trading signals. Good app for mobile phone too
Make it easier for me to trade everywhere
McPhersonJul 27 2020
Very nice broker! They have a good principle to avoid ambiguous bonus programs. Very desirable for safe trading
Harry AndrewsJul 20 2020
My withdrawal was delayed for two days even though the balance got immediately reduced. Fortunately, it didn't happen every time. The other day I requested a withdrawal and the process only took 5-10 minutes.
Chow PaxJul 20 2020
They claim to have 0 spreads, but the reality doesn't say so. I never see the 0 spreads, BTC/USD even has 400+ pips spread. I can't choose which one is more preferable so oftentimes I'm constrained to 2-3 pairs with 10-15/20 pips spread.
Win72fxJul 20 2020
I heard a lot of complaints about withdrawal, but Exness rarely has it. In my opinion, this is where a forex broker's quality is really determined. As long as the problem is kept to a minimum, it can be safely said that the broker is quite recommended. No need for A-Z promotions, withdrawal quality says it all!!
bangbang52Jul 20 2020
I always have positive experiences with Exness. There are a lot of benefits for IBs
RyanserieJul 20 2020
I have traded with this broker for several months. Though I doubted it in the beginning due to my painful experience with several other brokers when dealing with fund withdrawal, I'm amazed that Exness turns out to have auto deposit/withdrawal.
As for the payment methods, there are many choices for deposit while withdrawal method is only internet banking. So far it's not a problem for me as the process can be done in a few minutes. I'm not advertising but I truly enjoy trading with this broker.
Ok OcJul 20 2020
I used to trade in this broker because of its competitive trading conditions. I gradually left Exness because it can't keep up to offer attractive promotions.
Marais ElJul 20 2020
I recommend moderate leverage from 1:200 - to 1:500. Avoid high leverage at all costs.
Exness is a good broker as they're able to give 1:3000 leverage but always warn their clients should they want to try it.
Jonah ruleJul 20 2020
The Stop Loss didn't work. My account got MC because of it.
LeonJul 20 2020
The first time I tried to withdraw from this broker I immediately feel wronged. They said the payment process using FasaPay is instant, but it actually needed 3-5 business days. Where is the instant withdrawal that they claim to be capable of providing with? I'm beginning to doubt this broker
Bona GannJul 20 2020
Please don't complicate my withdrawal process. I have been trading with you since 2011, but lately, I'm always feel cheated as my withdrawal requests are always rejected for some abstract reasons. Here are the instances.
1. My withdrawal is usually confirmed by email but suddenly it's changed to be via phone, which makes it difficult for me during the switchover. the case was cleared but it psychologically troubled me a great deal.
2. I ordered a withdrawal via FasaPay for $350 and my balance at that time was $1044. When I choose the currency, there was a notification indicating that I my balance was not enough. I was made to totally unable of withdrawing my fund. The case was cleared but I haven't succeeded in withdrawing my fund.
3. Lastly, all of my payments are via FasaPay, but I was once denied of withdrawal process because I supposedly use BTC to deposit. Wth?? I didn't even have a BTC account.
Forex youngJul 20 2020
I've been trading only in Exness for 3 years. Other brokers are not good for a scalper like me due to the many restrictions. I can enjoy my profit in this broker and focus on trading for a living, not aiming to become a billionaire.
Exness' cons usually appear when there are news releases. It'll be very difficult to enter a trade and sometimes the MT4 can freeze. Recently there is a leverage warning every time important news are about to appear. There will be adjustment to margin requirements and the leverage can shrink to 1:200. Is it because the Exness team is also trading and they don't want to lose?
Mike FalonJul 20 2020
My friends and I have been trading with Exness (mini account, dp/wd via fasapay) with no problems and satisfying conditions. We can optimize the broker's feature to our capabilities, and that's saying something. Loss and profit come and go, even margin call is a normal occurrence. We consider them as precious experiences to rebound from.
Jarwo JKJul 20 2020
Ever since I found this broker I feel it's the best. FasaPay withdrawal is instant despite the maximum limitation for transfer amount per transaction. The support is quite responsive as well as the ib commission. Unlimited leverage is also great for snipers with small capital.
Mr ArtieJul 20 2020
I admit that Exness spreads tend to widen significantly during news releases. Slippage is also a risk but which broker doesn't have it? Aside from the disadvantages, Exness cent account is preferable.
As long as you don't trade the news, everything is good.
Agys Rb17Jul 20 2020
Average spreads in other brokers' cent account range from 1.3 to 2 pips. Exness has lower spreads that can get below 1 pip with the average spread only 1 pip.
John JuniorsJul 20 2020
I quite like this broker especially for its mini and cent accounts. When I was still a beginner I got margin call so I tried other brokers. My comparison results in all of those brokers' real accounts proved that Exness' cent account is pretty good.
Still, I can't quite choose Exness as my only one broker since there's no local bank deposit/withdrawal and fixed rate... Wish they can provide them sometimes in the future... ?
Bill NielsonJul 20 2020
Update from my previous predicament,
Exness has given back my money, and as a fair responsibility, I wrote here again about their good feedback. Imo it is the only broker willing to really compensate their client.
Bill NielsonJul 20 2020
I was disappointed after the DDoS attack incident. My account's profit went positive before it changed so suddenly that it triggered margin call. When I asked to clarify it the broker said that it could be compromised. I had sent my MetaTrader's log file and followed their instruction to wait for 3 days.
Every time I ask about my loss to this day they always ask for more time. If they can compensate for my loss I'll salute them. Otherwise, I'll spread this unfairness everywhere
Zahir SQWJul 20 2020
Traders with more than 3 years experience in this broker, please be careful especially if your account collects big profit regularly.
This broker will disconnect your account oftentimes!!!
The only solution is to have a backup for the internet connection. You need to quickly change your ISP when your account is forced to disconnect for more than 5 minutes.
I met a lot of problems like this. One example is when I got $20,xxx profit, and my account was disconnected for more than 3 hours. They sent an email to inform me that there had been a DDoS attack. I changed ISP quickly and the problem was immediately solved. At that time my profit has decreased to $3,xxx
I had tested my internet speed and there was no problem whatsoever.
I closed all my positions and withdrew all funds, never look back again.
This broker was long known to cheat traders with big profits. Some of my friends can attest to that.
Another side note:
Bonus promotion and spreads are deceiving. When the price is volatile the spreads could widen extremely.
ShaneJul 20 2020
I've been unable to connect to my real account for two days. So disappointing since Exness never gave me any trouble before. The live support ignored my complaints so I can't do anything....
Will DanielsJul 20 2020
In my opinion, Exness is quite attractive as the account types range from Cent to ECN. The leverage is also very accommodating to all types of traders.
Ronald SdJul 20 2020
This broker's not good for scalpers and news traders....
I keep getting requoted which resulted in my positions being executed in unfavorable prices....
If you like to trade the news don't choose this broker
Danny A PearsonJul 20 2020
This broker may fix some things, but what made me stop trading with them is the spread. Even the spreads in the ECN account is not favorable compared to other brokers' spreads. The service is not bad, the trading condition leaves a lot to be desired. If only Exness has zero fixed spread, I will reconsider my decision. But this broker is unfortunately not innovative enough.
Sandy MarteenJul 20 2020
I no longer trust this broker. I deposited a large sum of money but it's never credited to my account.
AstafxJul 20 2020
Never run into any problem during withdrawal, either for small or big fund, everything goes smoothly
Stephen FaradayJul 20 2020
I withdrew 5 times from Exness and all the proceedings went instantly without any trouble.
Opie BrothaJul 20 2020
From the time I learned to trade to the time I'm finally able to trade independently, withdraw my fund regularly, and gain profit consistently, I haven't met any problem. This is a recommendation from my mentor...
InesJul 20 2020
I enjoy trading in this broker. It's been 1 year
Arzd PlayrJul 20 2020
Exness is the only broker that I'm loyal to. I can use many platforms in this broker.
RomyJul 20 2020
I use two brokers and one of them is Exness. Both have pros and cons but overall, I have no doubt in their safety. I haven't managed to withdraw my fund but so far I'm quite satisfied.
Maya SantiniJul 20 2020
I didn't quite trust this broker initially, but I saw that they keep improving.
Eve PaigeJul 20 2020
This broker is not bad. I doubt it in the beginning, but the service is getting better. I've been trading in Exness for one year and feel the change. From the new regulation, support language, and the most important of all: the Analysis in my account. It's SUPERB!
I'm currently educating myself to trade with indicators. It will be better if Exness allows automatic trading.
ReynoJul 20 2020
After googling for some time I decided to pick this broker. I've been with Exness for 3 months, and so far so good. The registration process and other proceedings went smoothly. It hasn't been fully tested, but I hope everything goes well to the withdrawal process
Addams BryenJul 24 2020
I have had trading experience at Avatrade. It was quite smooth, but not long after that I switched to another broker because I was interested in the conditions and bonuses hehehe .. But clearly during Avatrade there were no negative impressions that I got
Nathan DaneelJul 24 2020
Be careful traders, this broker is like a mafia. I have previously deposited $ 500, there have been reports that my deposit was received but it was not immediately listed in my account.
When I complain, he said This is a third-party deposit huh? I don't know, even though I clearly wrote my name when I sent it. TLDR; my money was lost by this broker.
RosemaryJul 22 2020
Axitrader broker is the good one, but their support service is less responsive. I wish they can improve their services for the clients.
Kristen PorratJul 22 2020
Mt4 NexGen provides advanced management tools, advanced order processing, and sentiment trading tools. This platform is suitable for those who are already professional. Anyway, I use it by myself and it's incredibly great!
Shafa SaharaJul 22 2020
AxiTrader offers the Indonesian language on its website. It is very useful for those who are less fluent in English, like me :D
Thank you, AxiTrader!
For the opportunity of trading in other regions, you may want to check Top Forex Brokers in Australia.