I’d like to know which broker to use. Are there any SA brokers out there worth the try, or atleast a broker that can deposit profits (not that I have any, but I need to be positive right?) straight into my SA bank account?
Goeie More (‘Good morning’ in Afrikaans),
Hoe gaan dit? (‘How are things’ in Afrikaans)?
Remember me??? LOL!!!
Anyway (and to answer your question):
Mainly: the brokers in South Africa are the banks (ABSA and Standard Bank are advertising BIG TIME at the moment on 702 and the like). The problem with them are the HUGE fees and the fact that your choice of tradeable instruments is limited. In addition: the amount of ZAR / capital that is required is prohibitive. There is indeed one other broker in South Africa (their name escapes me at the moment but if requested I’ll get their name for you) but they only offer trading of CFD’s (‘Contracts For Difference’) on the Johannesburg Stock Exchange (and again: the amount of ZAR / capital required is prohibitive). That’s the BAD news. The GOOD news is that Deltastock is the FIRST (and currently only) International Broker to have a branch office and local presence in South Africa (Deltastock (South Africa) (Pty) Ltd). Don’t be fooled by the other brokers advertising on DSTV i.e. they DO NOT have a local presence in South Africa but would have you believe that they do. You are more than welcome to send me an email ([email protected]) and we can discuss any queries that you may have.
NOW BEFORE ANYBODY ‘STARTS’ WITH ME:
I am NOT advertising!!! The thread starter does not have enough posts for me to be able to send him a PM (otherwise I’d not have posted this message so as to avoid the INEVITABLE ‘arrows in my back’)!!! The thread starter asked a question and I’m simply answering him to the best of my ability!!!
Regards,
Dale.
Thanks Dale, can I email you in Afrikaans, as you’ve seen da enghlis no good!
Dit sal nie a probleem wees nie!!! But BE WARNED: the last time I typed or wrote ANYTHING in Afrikaans must have been when I was at school and THAT was a GOOD long time ago!!! LOL!!! I can, however, speak Afrikaans very well i.e. if I remember correctly it was the only distinction I GOT at school for some or the other odd reason!!! LOL!!!
Regards,
Dale.
Hi Dale
Thanks so much for the useful info. :D. I am a newbie from SA as well. Its a nightmare trying to sift through the thousands of brokers out there. I will open a demo account with Deltastock and give them a try.
Hey I am also from S.A. why not just use something like Oanda I am pretty sure they allow you to use ZAR, what does Deltastock offer thats better?
From what I can see Oanda don’t seem to have a credit card funding and withdrawing facility. As far as I know wire transfer can prove to be quite a mission from SA.
Hey you are from Cape Town… Me too 
Cool :D…pleased to meet you.
Am completely new to this, I’m sure I’ll be needing a lot of help in the future.
Im also new but we can also brainstorm together I find I learn quicker when I bounce ideas off people
I thought I was in Cape Town, the mountain seems to have disappeared !!!
I like Brainstorming, chatting, trading etc. I’m determined to make this a success and do it full time !
sounds awesome
Hi guys, another South African here glad to see there is a few of us on this website…this awesome website/forum… with what brokers are you guys ? I am looking for a broker to trade through MetaTrader…
Hi, Another South African here, also need advice on money tranfer, brokers ect, and can you get your money out when you want too. I lost R19 000 a year ago because of a British broker linked to Cyprus. I am from Port Elizabeth. I want to do it right this time.
Oh God…
really sorry to hear that. I think that you are wrong choosing a broker. Cyprus is on trouble of their financial problems. I recommend you trade in Liteforex broker, I’ve making money and trading with them for more than 7 years. It has great credibility and still popular until now.
Hi All
I am also from south africa,durban.
I just am busy testing,a 10pip trade theory on any currency.
I am using Fxcm trading platform and use tradeviewer to apply indicators and trends
Any one interested
Hi. I`m from Cape Town area. I have been using Oanda for demo and live trading. I used my debit card for funding my account.
Being South African doesn’t mean you need to trade with a South African institution. There are a lot of reputable online forex brokers that will allow you to deposit and trade with the Rand. They also give you options to convert to dollars if you prefer as I do. The one I’m currently with also offers a ‘trade adviser’ free of charge. I’m really new at all of this but don’t think you should limit yourself to only what south africa has to offer. BTW thanks to all at the PIP School, you guys are great and this is by far the most awesome site out there for Newbies.