The foremost thing to know about the OTC market is that it relates to trade that is not carried out on formal exchange but between a third party and a broker.
The foreign exchange market is the biggest and most common OTC market globally. Forex trading takes place in OTC transactions. All traders participate in currency exchanges five days a week and 24houra a day, which is different from other centralized exchanges. The forex market allows traders to sell and buy currency CFD’s anytime through a network that connects several participants. It includes retail traders, brokers, hedge funds, dealers, institutional investors, etc.
Choosing good a Forex Broker
It is important for all Forex traders around the world to consider several factors linked to forex brokers before selecting any broker and engaging in the foreign exchange market.
Consider the broker fees and trading expenditures to check that the Forex broker has the proper authority and regulation. Also, verify if there are forex brokers with ZAR or other currencies accounts that helps traders to withdraw as well as deposit money without incurring any currency conversion expense.
Traders across the global may need to pay trading fees for forex trading depending on the trading of currency pairs. Using a ZAR, USD, EUR, GBP account and overseas broker, you can lower your cost as the account where the foundation currency is IN YOUR LOCAL CURRENCY.
Lets take a look to some Forex brokers who offer ZAR accounts with other trading instruments and reasonable spreads.
It is a regulated forex broker based in South Africa operating since 2013. It provides several competitive trading methods, financial markets, a trustworthy trading platform, and a maximum leverage ratio. Traders get the feature of live trading account keeping the base currency as ZAR along with including ZAR deposit in the retail investor account.
Forex traders use strong trading technologies
Authorized ODP and FSP in South Africa
Forex brokers are trustworthy and regulated through financial sector conduct Authority
Khwezi trade is a non bank firm and industry-leading broker to achieve OTC licensing.
Offers competitive spreads
Offers maximum decent leverage ratio
A well-known broker in the CFD trading sector is plus500, which offers worldwide investors and traders service. Traders can register a ZAR-dominated account, and Muslim traders can use a swap-free account along with a virtual trading account that is used before you risk your money in a live market where foreign exchange rates fluctuate. Traders access plenty of trading opportunities and payment systems to finance the transaction.
Large funding means
Plenty of tradable instruments
Strong proprietary trading platform.
Excess is the best option among forex brokers for all traders. It offers few products but a wide range of features and retail investor accounts. It paves the way for a competitive trading environment and includes the following features- minimal spreads, competitive commission, configurable maximum leverage ratio.
Biggest Forex brokers in customer base, trading solution, and volumes
Flexibility on trading sizes as it provides maximum flexible leverage levels
Competitive trading conditions and comprehensive trading solutions.
Robust charting and strong trading platform
Professional traders get accessibility to VPS
A well-known online global broker offers flexible trading and comprehensive solutions to many retail traders. It offers automated forex trading tools that offer a competitive trading edge.
Includes high trust score in the forex industry and well-regulated broker
Offers mobile trading apps and protection to retail accounts with negative balance security
Free education to beginners in trading
High-class trading tools
We are happy to be approved by FSCA, and we are a competent and leading Forex Brokers with ZAR account in South Africa forex trading. Unlike other foreign brokers, we offer dedicated and consistently reliable service to our customers and ensure their security