Incentives and promotions are prevalent in the foreign exchange market, with many forex brokers providing generous sign-up bonuses to first-time traders.
When a trader opens an account with a broker, any sign-up bonuses they receive are deposited into their trading account as “trading credit,” which can be used to trade on the various financial markets until the credit is depleted.
When trading using a forex broker’s welcome bonus, traders can keep any winnings they generate or cash them out entirely if their broker allows it. To get you started in trading, many brokers provide welcome bonuses. If you want to know more about the best broker in South Africa, Trader’s Union has created a list.
However, many forex firms have discontinued providing these incentives due to the inherent dangers of the currency market.
5 Top Forex Brokers That Offer Sign-up Bonus:
Here are 5 top Forex brokers with welcome bonuses in South Africa discussed here:
IFX Brokers is a reputable foreign exchange (FX) contract for difference (CFD) broker in South Africa. They have been in business since 2018 and provide clients with access to numerous tradable instruments across various asset classes.
In addition to providing access to MetaTrader 4 and MetaTrader 5, as well as a variety of instructional resources and advanced trading tools, IFX Brokers is also known for its cutting-edge trading technology and competitive trading conditions.
Traders can use IFX Brokers’ trading tools to execute automated algorithmic strategies, gain access to trading experts (EAs), and more.
AvaTrade, founded in 2006, is a powerful, innovative, and flexible broker that offers more than 1,250 tradable instruments via MetaTrader 4, MetaTrader 5, social trading platforms, and AvaTrade’s proprietary trading technology. The company is regulated in multiple jurisdictions and deals in multiple assets.
AvaTrade is renowned for its excellent trading conditions, which include commission-free trading choices, fast trade execution rates, a variety of funding methods, and responsive customer service.
To provide trading solutions in a wide variety of countries, AvaTrade is regulated by many different organizations. AvaTrade has the resources to provide retail and professional traders with a vast array of trading options and sets a premium on providing a positive customer experience.
AvaTrade’s over 2 million monthly deals and 200k+ active traders give investors plenty of opportunities to purchase and sell financial products fast.
Tickmill was established in 2015 and had offices in the United Kingdom, Cyprus, and Seychelles, making it a fully regulated ECN and STP broker with authorization from the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority (FSA), and the Financial Services Commission of Seychelles (FSCA).
Tickmill provides access to over 80 different financial products across many asset types. Retail traders pick various account types, each tailored to a particular set of requirements and goals.
A trader can choose from a wide range of robust and adaptable trading platforms that allow them to not only trade across a wide range of global financial markets but also perform in-depth fundamental and technical analysis.
Exness was founded in 2008 and operated out of the United Kingdom and Cyprus, where it is subject to rigorous regulation from the Financial Services Authority (FSA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), the Financial Conduct Authority of Singapore (FCA), the Cyprus Banking and Supervision Commission (CBCS), and the Financial Services Commission of Singapore (FSC).
To encourage new traders to open an account, Exness provides a sign-up or welcome bonus. Traders can also set up accounts in a variety of local currencies.
Tight spreads, minimal charges, high leverage ratios, and a low minimum deposit are some benefits of trading with Exness. In addition to a live account, traders can practice their skills on a demo account and use the industry-leading MetaTrader 4 and MetaTrader 5 trading interfaces from any device.
FXTM is an ECN and STP broker with offices in respected jurisdictions like Mauritius, the UK, Cyprus, and South Africa. FXTM is a trusted, multiple-award-winning broker that keeps customer assets in a separate, segregated account.
FXTM provides traders in South Africa with favorable trading conditions, intuitive trading platforms accessible from any device, and comprehensive instructional resources appropriate for all experience levels.
When new trader opens a live account with FXTM, they are eligible for a sign-up or welcome bonus in the form of trading credit once they have completed the KYC procedure. Investors can choose from more than 250 different financial products across a wide range of asset types.