One of the most attractive advantages of forex trading is that traders can use leverage to open larger positions despite the size of their initial deposit. When traders apply leverage to their trading, the broker takes a small percentage, referred to as the margin requirement, as collateral for the trade. There are several brokers in the industry that are well-known for their high leverage ratios, below are some of the best.
IFX Brokers
Features
IFX Brokers is a South African broker that has been involved in the facilitation of trading across several financial markets since 2018. IFX Brokers offers competitive trading conditions, transparent fee schedules, and high leverage of up to 1:500. IFX Brokers offers the use of MetaTrader 4 through which trading can be executed, giving traders the best software on the market that has a wide range of features and functions.
Pros and Cons
| PROS | CONS |
| Well-regulated by the reputable FSCA | FIX API not supported |
| High leverage ratio up to 1:500 | Live chat function not incorporated on the website |
| MetaTrader 4 supported across devices | Spreads are not the tightest |
| Educational materials offered |
FBS
Features
FBS is a popular and reputable international forex broker that offers traders access to global financial markets through sophisticated, comprehensive trading solutions. FBS is well-known for offering competitive trading conditions that consist of tight spreads, a wide range of tradable instruments, and maximum leverage of up to 1:3000 for retail traders.
Pros and Cons
| PROS | CONS |
| Ultra-low minimum deposits from 15 ZAR | Inactivity fee charged on dormant accounts |
| User-friendly trading platforms | High spreads on Cent account |
| Dedicated customer support in multiple languages |
FOREX.com
Features
FOREX.com is a large and reputable broker that caters for South African traders. FOREX.com not only has competitive trading conditions and a proven execution scorecard, but the broker also offers high leverage ratios, a wide range of price charts, and a powerful proprietary trading platform. FOREX.com is also known for its ultra-low trading and non-trading fees, performance analytics modules, and technical indicators, which help traders refine and improve their forex trading skills.
Pros and Cons
| PROS | CONS |
| Well-regulated | The platform is not suited to beginner traders |
| A wide range of tradable instruments offered | |
| Advanced trading tools provided |
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Vantage FX
Features
Vantage FX is a large and reputable forex broker that caters for South African traders, giving them access to a wide range of financial markets. Vantage FX offers commission-free trading options and retail trading accounts with tight, variable spreads. In addition, Vantage FX also offers high maximum leverage of up to 1:500, allowing traders the opportunity to open larger positions in major financial instruments and markets.
Pros and Cons
| PROS | CONS |
| Supports MetaTrader 4 and 5 | High minimum deposit requirement |
| Spread-free ECN accounts offered | |
| Well-regulated by reputable entities |
Exness
Features
Exness is a popular and well-regulated broker with offices in South Africa and several other regions, offering traders from around the world comprehensive trading solutions. The trading conditions that Exness offers include tight spreads, ultra-low deposit requirements, negative balance protection on retail accounts, and leverage of up to 1:2000.
Pros and Cons
| PROS | CONS |
| Globally-recognised broker | Accounts are not multi-currency |
| A high maximum leverage is offered | |
| Demo accounts offered | |
| Islamic accounts available for Muslim traders |
Forex trading should be rewarding and the brokers listed up can be relied on to assist you in this regard.
