If you are a beginner in forex trading, you might be curious about ETX Capital. This broker offers thousands of EAs and advanced charts for its users. It also offers competitive spreads on thousands of markets, a low margin, and up to 200:1 leverage. ETX has a good reputation, with only a handful of complaints. It also enjoys a high satisfaction rating among its user base.
Types Of Accounts That ETX Capital Offers
The brokerage pays close attention to the security of customer funds, and offers multiple levels of service for the different types of investors. You can also expect to receive personalized service if you deposit at least EUR 1,000. Those who invest more than that will be classified as high-net-worth clients, and will be given special service and access.
ETX Capital offers two types of accounts. You can choose to trade Forex using the MetaTrader4 platform or the proprietary terminal. It offers more than 6000 types of financial assets, including forex. The trading platforms have leverages from 1:20 to 1:100.
To open a professional account, you must meet the eligibility requirements. For example, you must have at least 10 significant trades a quarter, have a financial portfolio of over EUR500,000, and have some experience with trading financial instruments. Once you’re approved, you’ll be asked to verify your identity and agree to their Terms and Conditions. You’ll also have to accept the Risk Warning before you can begin trading.
Several Factors That You Should Consider
There are several factors that you should consider when choosing a Forex broker in South Africa. First and foremost, you should choose a broker that is registered with the South African Financial Services Board. Secondly, your broker should be well-respected in the market. If your broker is a foreign national, it might be difficult for you to find one that is registered in South Africa. Thirdly, your broker should be regulated by a local or international body. Choosing a South African broker is highly beneficial.
The best south african forex brokers offers multiple contact options for clients. They should provide multiple methods of communication, including live chat, phone calls, and email. Some brokers only offer a single asset class, so this may not be a good option for beginners. Other platforms offer education content, such as mini courses, video classes, and trading simulators. Regardless of how you prefer to communicate with your broker, they should be able to answer any questions that you may have and give you the support you need.
There are hundreds of different options for trading forex in South Africa. Choosing a broker with high knowledge of the currency you want to invest in is vital, as the currency market can be volatile. Forex is an increasingly popular way to invest, with daily trading volumes approaching US$6 trillion. You will want a broker with excellent knowledge of forex trading and the underlying economics of South Africa. While it is possible to choose a South African broker, you should make sure that the brokerage has a high quality reputation.