Forex Trading Demo Account South Africa

Best Forex Trading South Africa Demo Guide

Updated November 18, 2021

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.

Defining the Forex Demo Accounts

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.

The purpose of South African Forex demo accounts

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.

Reasons to use a South African Demo Account

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.

Choosing Forex demo account in South Africa

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.

Access South African Demo Accounts 24/7

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've collected thousands of datapoints and written a guide to help you find the best Forex Trading South Africa Demo for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best forex trading south africa demo below.

Reputable Forex Trading South Africa Demo Checklist

There are a number of important factors to consider when picking an online Forex Trading South Africa Demo trading brokerage.

• Check your Forex Trading South Africa Demo broker has a history of at least 2 years.
• Check your Forex Trading South Africa Demo broker has a reasonable sized customer support of at least 15.
• Does the Forex Trading South Africa Demo broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
• Check your Forex Trading South Africa Demo broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
• Does your Forex Trading South Africa Demo broker have an international presence in multiple countries. This includes local seminar presentations and training.
• Make sure your Forex Trading South Africa Demo can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Forex Trading South Africa Demo.

We compare these features to make it easier for you to make a more informed choice.

• Minimum deposit to open an account.
• Available funding methods for the below Forex Trading South Africa Demo.
• What you are able to trade with each brokerage.
• Trading Platforms offered by these brokers.
• Spread type (if applicable) for each brokerage.
• Customer support levels offered.
• We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.

Top 15 Forex Trading South Africa Demo of 2021 compared

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

eToro Risk Disclosure

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

All Forex trading south africa demo in more detail

You can compare Forex Trading South Africa Demo ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Forex Trading South Africa Demo for 2021 article further below. You can see it now by clicking here

We have listed top Forex trading south africa demo below.

Forex Trading South Africa Demo List

eToro

★ ★ ★ ★ ☆ (4/5)

Min deposit : 50

Visit eToro Try a Demo Read review

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro was established in 2007 and is used by over 20000000+ traders. 67% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). Cryptocurrency availability with eToro is subject to regulation. Buying and selling real cryptocurrency assets may not be available in your country through eToro. Please check the latest information made available on their website.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)

AvaTrade

★ ★ ★ ★ ☆ (4/5)

Min deposit : 100

AvaTrade was established in 2006 and is used by over 300000+ traders. 71% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading . Cryptocurrency availability with AvaTrade is subject to regulation.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Central Bank of Ireland, 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)

IC Markets

★ ★ ★ ★ ☆ (4/5)

Min deposit : 200

IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)

XTB

★ ★ ★ ★ ☆ (4/5)

Min deposit : 0

XTB was established in 2002 and is used by over 250000+ traders. 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. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa

Roboforex

★ ★ ★ ★ ☆ (4/5)

Min deposit : 1

Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC)

Pepperstone

★ ★ ★ ★ ☆ (4/5)

Min deposit : 200

Pepperstone was established in 2010 and is used by over 89000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by 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

XM

★ ★ ★ ★ ☆ (4/5)

Min deposit : 5

XM was established in 2009 and is used by over 3500000+ traders. Your capital is at risk XM offers Forex, CFDs.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)

FP Markets

★ ★ ★ ★ ☆ (4/5)

Min deposit : 100

FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)

Plus500

★ ★ ★ ★ ☆ (4/5)

Min deposit : 100

Plus500 was established in 2008 and is used by over 15500+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500 offers CFDs.

Plus500 offer a 100% Free and Unlimited Demo account

No Deposit fees/Commissions

No hidden fees

Competitive fees

Tight Spreads

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546

FXPrimus

★ ★ ★ ★ ☆ (4/5)

Min deposit : 100

FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)

EasyMarkets

★ ★ ★ ★ ☆ (4/5)

Min deposit : 100

easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer

Credit Card

Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat

Phone support

Email support

Account Types

Micro account

Standard account

Islamic account

VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)

Forex Trading Demo Account South Africa

Source: https://comparebrokers.co/compare/forex-trading-south-africa-demo/

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