We found 11 online brokers that are appropriate for Trading Forex Trading South Africa Demo.
Before using your real money to trade the Forex, you will want to test the water with your investment strategies. Of course, it won’t be a great idea to use a real live trading account when testing the water. Here is where a Forex demo account in South Africa can help you.
Forex demo accounts are free practice accounts offered by the Forex brokerages in South Africa which you can use as a financial market simulator. Although you are in South Africa you will have access to all the financial market all over the world in your demo account.
In the demo accounts, you will not use your real money to make the trade. Instead, you use the virtual money which is available in your South African demo account. The simulator mimics the real market condition so that it can be similar to real trading although it is only a simulation.
One would never know their how to trade in different financial asset classes unless they try it themselves. That is the primary purpose of using a South African Forex demo account.
The brokerages demo trading platform offers the closest simulation of the real live financial markets to grant you a hands-on experience before using your real money for serious trading activity.
A South African Forex demo account also helps you to practice and test your trading strategies so that you will know what works and what does not. It is important to know that each provider has their own trading robots and platforms each with different features. So its a good idea to sign up with many free risk free demo accounts to see which one suits you best.
You will want to use a brokers demo account to get familiar with the trading environment, financial research tools and the buy / sell features of the app.
The South African demo accounts come with educational resources that all traders can benefit from. As you use your South African Forex demo account, you will get a clearer picture of the performance and volatility of the financial markets and understand the details of specific services before using your real money and making a deposit.
For most traders, using real money is a serious deal. Although you have set aside some money you can afford to lose, you surely don’t want to lose it.
Trustworthy South African Forex brokers will notify their members about the risks of using their websites. the percentage of losing can be different from one financial asset class to another.
There is no such thing as winning all the time. Winning and losing are all inevitable when Forex trading. But mitigating the risk and improving the income is always what you need to do to make the Forex a realistic income.
With the help of a demo account, you will be able to learn all of the strategies and eventually find ones which work for you.
Learning will start with understanding the platform and the features provided by your forex brokerages.
Before starting to spend your real money, there are many things which you need to explore such as the platforms features, functions, pros and cons, the indicators, one-click trading, chartings, and many other variables.
South African Forex demo accounts can help you to test the new strategies, indicators as well as the robots which work in the market.
You will have ample time and opportunities to assess the strategies and get rid of strategies which do not work. At that point, you can also learn to maximize the indicators and the robots, if the provider offers you with it.
As you understand how the indicator works, you can find out ways to exploit the features and perks in the software so that you can make profit depending on the market conditions.
There is a chance that you are new to Forex and want to get familiar with the platform or apps you’d use for Forex trading.
The most popular apps for trading are MT4, MT5, and cTrader. Most international forex brokers use MT4 for trading. If you see the unfamiliar platform, using your Forex trading demo account will help you a lot in giving you a heads up.
Demo trading accounts in South Africa vary, depending on the brokerages offers. Each brokers demo accounts are always filled with a decent amount of virtual money that you can use to demo trade. Therefore, you don’t need to lose real money in the process of learning.
If possible, you could select brokerages which offer you demo accounts with free and ample resources.
With these demo trading accounts, you will be able to learn all of the aspects of trading on a online or mobile app trading platform, at your own pace. You will not be limited to the time or limited amounts of money you can use for practicing.
After all, there is no point if you can try the account under the pressure of limited time and virtual money. It won’t give you the opportunities to find out the best strategies for you.
The period of time is the key to use the demo account. Some brokerages only give you 7 days to use their demo account.
Then you will need to use your real account to trade. But some brokerages offer you unlimited demo accounts.
That means you can use as you like before implementing the strategy to your real account. Demo account is merely a live account simulation.
Therefore, it is much better to start off your demo account with the same amount of capital that you have right now.
Opening a demo account is very easy. You just need to select a regulated Forex brokerage site. Open a demo account by completing your personal information and verifying your email. Follow the instructions thoroughly and you can use trade on your South African demo trading account immediately.
We have conducted extensive research and analysis on over multiple data points on Forex Trading South Africa Demo to present you with a comprehensive guide that can help you find the most suitable Forex Trading South Africa Demo. Below is a list of what we consider to be the best forex trading south africa demo after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Forex Trading South Africa Demo.
There are a number of important factors to consider when picking an online Forex Trading South Africa Demo trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Forex Trading South Africa Demo.
Compare Forex Trading South Africa Demo min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are forex trading south africa demo. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more forex trading south africa demo that accept forex trading south africa demo clients
Broker |
IC Markets
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Roboforex
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XM
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Pepperstone
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NordFX
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XTB
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AvaTrade
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FP Markets
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Trading212
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EasyMarkets
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SpreadEx
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 1 | 5 | 200 | 1 | No minimum deposit | 100 | 100 | 1 | 100 | 1 |
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Used By | 180,000+ | 1,000,000+ | 3,500,000+ | 400,000+ | 10,000+ | 581,000+ | 300,000+ | 10,000+ | 15,000,000+ | 142,500+ | 10,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
Sign
Up with icmarkets |
Sign
Up with roboforex |
Sign
Up with xm |
Sign
Up with pepperstone |
Sign
Up with nordfx |
Sign
Up with xtb |
Sign
Up with avatrade |
Sign
Up with fpmarkets |
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Up with trading212 |
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Up with easymarkets |
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Up with spreadex |
Risk Warning | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74-89 % of retail investor accounts lose money when trading CFDs | Losses can exceed deposits | 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Your capital is at risk | Losses can exceed deposits |
Demo |
IC Markets Demo |
Roboforex Demo |
XM Demo |
Pepperstone Demo |
NordFX Demo |
XTB Demo |
AvaTrade Demo |
FP Markets Demo |
Trading 212 Demo |
easyMarkets Demo |
SpreadEx Demo |
Excluded Countries | US, IR, CA, NZ, JP | US, JP, IR, RU | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW | US, CA, EU, RU, SY, KP, CU | US, IN, PK, BD, NG , ID, BE, AU | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR |
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