Skrill is a well-known online payment company that has worked with well-known forex brokers all around the world to give forex traders a quick, safe, and convenient option to withdraw funds from their trading accounts.
Following is a list of the top South African forex brokers that allow Skrill for both deposits and withdrawals.
1. IFX Brokers
Overview
When it comes to forex trading, IFX Brokers is among the best South African options, giving clients access to a wide variety of markets and currency pairs.
IFX Brokers is a South African forex broker that provides its customers with a variety of trading account options, robust trading platforms, and funding options like Neteller, Skrill, Bitcoin, debit cards, and credit cards.
Pros and Cons
| Pros
High leverage available MetaTrader 4 is supported. Resources for learning are available |
Cons |
Features
| Feature | Information |
| Regulation | FSCA |
| Minimum deposit from | ZAR100 |
| Average spread from | 0,5 pips |
| Commissions from | USD6 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
2. Tickmill
Overview
Tickmill’s trading solutions include ECN and STP for the FX, CFD, and stock markets.
Via robust trading platforms, investors can trade in a wide variety of tradable assets, including major and minor currency pairs, minor currencies, precious metals, and more. Tickmill’s retail investor accounts come with features including negative balance protection, cheap commission rates, and tight spreads.
Pros and Cons
| PROS | CONS |
| Competitive pricing
Well regulated High leverage Advanced trading software STP model |
Features
| Feature | Information |
| Regulation | FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.1 pips |
| Commissions from | 2 per side per 100,000 traded |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | $30 Welcome Bonus |
| Customer Support | 24/5 |
3. IC Markets
Overview
Many people use IC Markets because of the variety of trading options and the ease with which they may access those platforms. Traders from South Africa can expect a variety of funding alternatives, including the absence of deposit and withdrawal fees.
Pros and Cons
| PROS | CONS |
| Low forex fees
Easy and fast account opening Free deposit and withdrawal |
No Negative Account Balance Protection
Limited number of available CFDs |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/7 |
4. Exness
Overview
For those just starting out in the trading world, Exness is a great choice, and for those with more experience, it offers a wide variety of specialized tools. Exness, with its robust multi-regulatory framework, gives South African traders access to the global financial markets.
Pros and Cons
| PROS | CONS |
| Well-regulated | |
| Tight spreads | |
| Over 130 currency pairs |
Features
| Feature | Information |
| Regulation | CySEC, FCA |
| Minimum deposit from | $1 |
| Average spread from | 1.3 pips |
| Commissions from | 3 USD and 10 USD per 1 lot for CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | Standard +10% Bonus Programme |
| Customer Support | 24/5 – multilingual |
5. AvaTrade
Overview
For people interested in trading foreign exchange (FX) and other financial markets online, AvaTrade is among the best market makers and STP brokers available. Through the Financial Sector Conduct Authority (FSCA) and other market authorities, AvaTrade welcomes traders from South Africa and provides them with a robust regulatory environment.
Pros and Cons
| PROS | CONS |
| Broad range of tradable instruments | High EURUSD and inactivity fees |
| MetaTrader 4 and 5 available | |
| Excellent educational resources |
Features
| Feature | Information |
| Regulation | Central Bank of Ireland, MiFID, ASiC, BVI |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | No commission on Forex |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | First Deposit Bonus |
| Customer Support | 24/5 – multilingual |
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