5 Best commodity brokers in SA
Investing in commodities is an important component of a well-balanced portfolio. You may take advantage of the numerous new industries springing up around the world by investing in commodities over the long run.
Here, we’ll take a look at 5 of South Africa’s best commodities Forex brokers, each of whom provides traders with outstanding trading conditions and a safe, well-regulated trading environment.
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IFX Brokers
Overview
South African-based IFX Brokers is a regulated retail broker that provides currency trading services. To facilitate transactions, the broker uses cutting-edge trading systems with great liquidity and low spreads.
A comprehensive range of financial products, including forex, commodities, energy, metals, and futures can be traded and invested in utilizing the cutting-edge MetaTrader 4 trading platform provided by IFX Brokers to its customers.
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 |
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XTB
Overview
CFD markets such as currency, stock indices, commodities, and more are all accessible through the XTB platform.
A lot of people are raving about this broker’s platform and services. XTB is now one of the largest FX and CFD brokers in the world, with more than 389,000 clients.
Pros and Cons
| Pros
Low trading fees Free deposit and withdrawal |
Cons
High stock CFDs Limited asset portfolio |
Features
| Feature | Information |
| Regulation | KNF, FCA, CySEC and IFSC |
| Minimum deposit from | $250 |
| Average spread from | 1.02 pips |
| Commissions from | 0.08% of trade value with $8 minimum |
| Deposit/Withdrawal Fees | $30 on withdrawals of less than $50 |
| Maximum Leverage | 1:500 |
| Bonuses | $40 No Deposit Bonus |
| Customer Support | 24/5 |
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AvaTrade
Overview
With AvaTrade, an established and FSCA-licensed CFD broker, traders of all experience levels may trade CFDs on a wide range of financial products, including commodities.
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 |
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Pepperstone
Overview
Pepperstone, an ECN broker based in Australia, is known for its lightning-fast transaction processing and support for a wide range of trading platforms.
A single no-deposit account is provided by Pepperstone. The Standard Account’s trading fees are included in the spread, however the Razor Account’s spreads are smaller and trading fees are lower.
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 |
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Plus500
Overview
Plus500 was established in 2008 and is a licensed market maker on the London Stock Exchange. This CFD provider has more possibilities than any other CFD provider. There are over 70 currency pairs, commodities, indices, equities, options, and exchange-traded funds (ETFs).
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 |
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