Forex Account Options for South Africans

Opening a forex account is an easy task, but finding a broker that offers the right kind of account to meet your trading needs takes research.  Once you have found the right account and broker combination for you, it is unlikely you will ever change.  Below we have listed some of our favorite brokers and their account options.  This process is easier than you would think. All you will need is your Full Name, Username and Email Address, Contact Information and a way to fund the account.

Forex Account Pointers:

  • Customer Service Options
  • Account Transaction Commission
  • Account Funding & Withdrawal Methods
  • Regulation and Security
  • Account Deposit Amounts
  • Trading Platform Options
Easy Forex
  • Low Minimum Deposits
  • Visual trading web-based platform
  • No hidden costs or fees
Etoro Forex Broker
  • Low $50 minimum deposit
  • 100% commission free trading
  • Portable web-based trading platform
Ava FX Forex Broker
  • A+ Financial Security Ratings
  • Rich trading environment
  • Bonuses offered for new sign-ups
Forex Yard Forex Broker
  • An easy-to-use platform for novice traders
  • Supermini account options with very low starting deposit amounts
  • Cash bonuses for new accounts

More of Forex Accounts for those who still can not decide:

To start off with, you may want to see about opening Forex accounts that you can demo.  After all, you are going to eventually be trading using your hard earned money so checking out a forex demo account to see how everything works is a great way to get yourself acclimated to online trading. Many investors actually open several demo accounts in order to get a feel for different trading platforms. There are a number of online outlets where you too can open your own demo versions of Forex accounts before you start investing with your own money. You can even try a few different Forex brokers so that you can get a decent idea of the one that works best for you and your needs.

When you find that you are ready to get started, check out the different types of Forex accounts that you can choose from. As an investor, you have the option of opening up an account under your business name or your personal name when you are ready to go live. Online Forex investors also have the option of going with a mini or standard account. The forex mini accounts are generally best for traders with little or no experience while standard accounts are best suited to traders who have the proper experience and money to invest.

As you move forward in opening your Forex accounts, you will need to go through the registration process. There are a number of forms that need to be submitted that will vary depending on the broker that you choose. Investors can simply download these files, which are usually given in the form of a PDF that can be both viewed and then printed easily. Just be sure that you look over all of the paperwork, taking care to read all of the fine print. This way you are not left with any surprises or fees down the road. Once you have filled out and submitted all of the proper paperwork, you can them move on to the next step which is activation of your account.

When you are ready to activate your Forex accounts, your forex broker will provide you with all of the instructions that you need to move forward to complete the activation process. Generally, you will receive an email that will give you information such as your username, your password and all of the instructions that you will need to fund your new account to get started. Before you know it, you will be trading and enjoying your new broker.