Technology

5 Best Forex Trading Apps in South Africa

To trade forex, you’ll need a way to place and track trades on a trading platform or app. Before making any trades, you can use this trading platform to gather information and conduct research. This data may include charts, news, indicators, and more.

A decent forex trading app will be easy to use, and allow you to have different time frames, charting features, and fast execution. To produce this list, we have extensively analysed mobile apps by many brokers that are available in South Africa.

1.    AvaTradeGo App – most compatible app

Overview

The Avatrade app gives you access to more than a thousand different financial instruments, including FX and CFDs on a variety of commodities, equities, and cryptocurrencies, which you can trade on one of the best forex trading apps.

This application gives users access to a real-time feed of prices as well as social trends. When conducting an analysis, you have access to a selection of charts that you can use. They also include a tutorial function for their software, which you can utilize to learn how to make use of it.

Through the use of this app, you are able to open and manage multiple MT4 accounts. The app itself can be used for both making deposits and withdrawing money from your account.

2.    Plus500 – best CFD trading app

Overview

Once you get the hang of it, the Plus500 trading app makes it easy to view real-time quotes and it is intuitive to use. You may also utilize their app to do your study by utilizing live charts that are presented in a variety of time intervals making it one of the best forex trading apps.

3.    Tickmill – best trading fees app

Overview

When using their Pro Account, traders using the Tickmill trading app can benefit from spreads as low as 0 pips for popular currency pairs like EUR/USD. With a Pro Account, the commission costs are USD 4 per lot and USD 2 per side for both opening and closing positions.

Traders in South Africa have access to a total of 62 currency pairs, in addition to more than 100 CFDs on stock indices, commodities, precious metals, and cryptocurrencies. They are one of the few brokers in South Africa that sell cryptocurrency contracts for difference (CFDs).

4.    Exness – best app for trading Forex

Overview

When compared to other forex trading apps, Exness’ trading costs for trading currencies and other CFDs are among the lowest available.

When using their Standard account, they will just charge you for the spread; there are no further commissions per lot. The vast majority of ways support fee-free deposits and withdrawals.

Trading accounts using a ZAR base currency are available through Exness. They provide 107 different currency pairs, which is a greater number than the vast majority of other sites. I

5.    XM – best regulated app

Overview

When compared to those of the majority of other brokers, the trading fees associated with an XM Ultra Low account are rather inexpensive.

The spread for EUR/USD with an Ultra Low account is typically 0.8 pips, which is an extremely competitive price. There are no extra expenses, such as commissions per trade, that they charge in addition to their spread.

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