5 Best same day withdrawal brokers in South Africa

5 Best same day withdrawal brokers in South Africa

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When choosing a Forex broker, the ability to make withdrawals on the same day is a factor that many traders prioritize. Your gains are readily available to you, and you are able to reinvest them whenever you see fit thanks to the availability of same-day withdrawals.

In this article we explore the best Forex brokers in South Africa which provide traders with access to same-day withdrawals as well as a range of excellent trading features.

1.     IFX Brokers

Overview

IFX Brokers is a regulated retail broker in the foreign exchange market. The broker offers cutting-edge trading platforms, which make it easier for customers to execute trades while also providing a high level of liquidity and competitive spreads.

Spreads start at 0.8 pips, and there is a minimum deposit requirement of $100 in order to open any of the accounts that are accessible.

Pros and Cons

Pros

High leverage available

MetaTrader 4 is supported.

Resources for learning are available

 

Cons

Lax regulation

Features

Feature Information
Regulation FSA
Minimum deposit from ZAR100
Average spread from 0,5 pips
Commissions from NA
Deposit/Withdrawal Fees NA
Maximum Leverage 1:500
Bonuses NA
Customer Support 24/5

2.     Pepperstone

Overview

Pepperstone is a forex broker that offers low commission rates and has a presence in multiple countries.

They are governed by a variety of important bodies so that they can continue to provide services related to commerce. Despite the fact that their news section isn’t always updated, their customer support is among the best there is.

Pros and Cons

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

Feature Information
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

3.     AvaTrade

Overview

The user-friendly interface and helpful customer support team offered by AvaTrade make it simple for inexperienced investors to grasp the nuances of the complex financial markets.

AvaTrade makes the trading platforms MetaTrader 4 and AvaTradeGO, which provide options for skilled traders, available for use on a desktop computer, tablet, mobile device, or via the web. Traders can access these platforms through any of these mediums.

Pros and Cons

PROS CONS
Broad range of tradable instruments High EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

Features

Feature Information
Regulation Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from No commission on Forex
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses First Deposit Bonus
Customer Support 24/5 – multilingual

4.     Plus500

Overview

Plus500, a worldwide CFD broker that is listed on the London Stock Exchange, was founded in the year 2008 and has its headquarters in Israel. The Plus500 website is designed to be extremely user-friendly, and it is especially remarkable when viewed on mobile devices.

Creating an account with the organization is simple, and their support staff is among the best in the industry.

Pros and Cons

PROS CONS
Wide range of market instruments

Competitive pricing

Well regulated

Relatively limited research tools

Features

Feature Information
Regulation FCA, ASIC
Minimum deposit from $100
Average spread from 0.5 pips
Commissions from ‎$3
Deposit/Withdrawal Fees None
Maximum Leverage 1:30
Bonuses Deposit Bonus
Customer Support 24/5

Also Read: What is Forex Trading South Africa And How Does Forex Work in South Africa

5.     IC Markets

Overview

On the most important currency pairings, IC Markets offers customers spreads that are tight, beginning at zero pip increments.

The ultra-fast order execution provided by the broker is useful for a variety of trading strategies, including high-frequency trading, algorithmic methods, and institutional investors.

Pros and Cons

PROS CONS
Low forex fees

Easy and fast account opening

Free deposit and withdrawal

No Negative Account Balance Protection

Limited number of available CFDs

Features

Feature Information
Regulation ASIC
Minimum deposit from $200
Average spread from 0.0 pips
Commissions from ‎None
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
Customer Support 24/7

Image Courtesy: Pixabay.com

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