Forex trading has become widely popular all over the world these days. The foreign exchange market is one of the most heavily traded global markets that churn out trillions of dollars in trading per day. All the major nations, as well as some smaller markets trade in the forex markets; and South Africa is not left behind either. The history of forex trading in South Africa goes back to 1980’s. On more recent years, Malawi has better opportunities in the forex trading as the South African market is becoming one of the leading markets in the world. You can find more details about it on https://www.tradeforexinsa.co.za/.
Top five forex brokers for Malawi are:
Plus500 is a CFD broker listed in London Stock Exchange that was founded in 2008 in Israel.
The broker offers a simple and easy-to-use trading platform, along with a well-designed mobile platform.
Moreover, the process of opening an account and customer support are great. You can open an account within a day during the account opening testing of Plus500.
| Headquarter | Israel |
| Regulations | FCA, CySEC, ASIC, FSB, MAS, FMA |
| Type of broker | Market Maker |
| Minimum Deposit | $100 |
| Maximum Leverage | 1:30 |
| Type of Platform | Propriety Platform, web-based |
| Deposit with Credit Card | Yes |
| Depositing with Wire Transfer | Yes |
| Instruments Traded | CFDs, ETFs, Metals, Commodities, Stocks, Indices, Gold, Oil |
| Demo Account | Yes |
2. IQ Option
IQ Option is one of the best brokers for binary option trading and it also offers its online trading platform to trade several other financial assets and instruments. Founded in 2013, the broker has over 20 million account holders from all over the world. Regulated in the EU by CySEC, IQ Option is fully authorised to provide its services to clients in a number of jurisdictions.
| Headquarter | Seychelles |
| Regulations | CySEC |
| Minimum Deposit | $10 |
| Minimum Trade Amount | $1 |
| Maximum Leverage | 1:30 (Retail traders), 1:1000 (Professional traders) |
| Type of Platform | Proprietary Web, Mobile App |
| Deposit with Credit Card | Yes |
| Depositing with Wire Transfer | Yes |
| Instruments Traded | Binary and Digital Options, CFDs, ETFs, Cryptocurrency, Forex, Commodities, Indices, Stocks |
| Demo Account | Yes |
3. RoboForex
RoboForex is a multi-asset broker and global online financial trading platform that was founded in 2009. Over 12 years, the broker has been offering forex trading and CFD trading to retail investors. It has served numerous clients around the world during this period and currently the number of RoboForex users has exceeded 10,000.
| Headquarter | Cyprus, Belize |
| Regulations | CySEC, IFSC |
| Trading Platforms | MT4, MT5, RTrader, cTrader |
| Minimum Deposit | $10 |
| Maximum Leverage | 1:2000 |
| Type of Platform | Web-based, Mobile App |
| Deposit with Credit Card | Yes |
| Depositing with Wire Transfer | Yes |
| Instruments Traded | Forex, Stocks, ETFs, Indices, Soft Commodities, Energies, Cryptocurrencies, Metals |
| Demo Account | Yes |
5. IC Markets
Founded in 2007, IC Markets is a reputable online trading broker based in Sydney. Out of all brokers in Australia, IC Markets offers the highest available leverage. Moreover, the broker allows clients to trade at low spreads and fees. IC Markets strives to ease the gap between retail clients and big institutional investors by offering investment solutions that were only accessible by high net worth individuals and investment banks before.
| Headquarter | Australia |
| Regulations | ASIC, CySEC, FSA |
| Trading Desk Type | ECN, No Dealing Desk |
| Minimum Deposit | $200 |
| Maximum Leverage | 1:500 |
| Type of Platform | Web-based, Mobile App |
| Deposit with Credit Card | Yes |
| Depositing with Wire Transfer | Yes |
| Instruments Traded | Forex, CFD, Cryptocurrency, Futures |
| Demo Account | Yes |
5. AvaTrade
Founded in 2006, AvaTrade is a well-established forex or CFD broker. It is one of the first major brokers in the retail forex/CFD field. Hence, it has a lengthy track record. Currently the broker has over 200,000 registered clients and over 2 million trades are completed on it monthly. AvaTrade holds several values like fairness and integrity, constant innovation, customer service, and uncompromising self-evaluation.
| Headquarter | Ireland |
| Regulations | FSA, ASIC, BVI, FSCA, FFAJ, ADMG – FRSA, MiFID, Central Bank of Ireland |
| Type of broker | ECN/STP |
| Minimum Deposit | $100 |
| Maximum Leverage | 1:400 |
| Type of Platform | Proprietary Platform, Web-based |
| Deposit with Credit Card | Yes |
| Depositing with Wire Transfer | Yes |
| Instruments Traded | CFDs, Stocks, Indices, Metals, Oil, Gold |
| Demo Account | Yes |
Study about the forex brokers well and research online before you choose one for trading.
