General

NAS100 Brokers in South Africa

NAS100 Brokers

NAS100 is a trending index in South Africa. Many new traders who are starting Forex trading consider NAS100.

In this article, we will review the top NAS100 Brokers in South Africa.

NAS100 Brokers in South Africa – What is NAS100?

NAS100 is a US-focused equity index made of 100 non-financial stocks. NASDAQ is the second-largest stock market of the United States and the world. Thus, NAS100 is the index on stocks listed on the NASDAQ stock exchange.

Due to the popularity of the NAS100 index, several brokers are stepping into the market. It is not easy for new traders to pick the right one from NAS100 brokers in South Africa.

Top NAS100 brokers

Our picks for top NAS100 brokers are;

  • Exness
  • HotForex
  • XM
  • Tickmill

There are a few local brokers that offer reliable brokerage services. We have reviewed those brokers for our traders.

1. Exness

Exness is known as the new trader’s broker. Exness offers the lowest deposit rates. Additionally, traders get entry-level trading requirements.

Exness is a fairly popular broker as well. Hence, you can use Exness if it is your first-time trading Forex.

Minimum deposit

The minimum deposit of Exness is set at 1 USD. Exness gets a lot of attention from new traders because of the extremely low minimum deposit limit.

The low deposit limit allows new traders to trade without spending a fortune. For local traders, the minimum deposit rate is 15 ZAR.

Exness has made Forex trading feasible for South African traders. NAS100 traders especially prefer Exness for their lowest minimum deposit offerings.

Spread

Exness offers 4.5 pips for average trading on standard accounts. Exness spread is not the tightest. However, at a 1 USD trading limit, traders don’t expect higher spreads.

Regulations

NAS100 is a rising trading stock in Forex. Hence, we recommend our traders look for regulated brokers. Exness is regulated by;

  • CySEC (Europe)
  • FCA (England)
  • FSCA (South Africa)

2. HotForex

HotForex is a popular local broker. Considering the growth in NAS100 trades, HotForex has been offering NAS100.

HotForex is a robust and efficient broker.

Minimum deposit

The lowest deposit limits at HotForex are 5 USD. Low deposit limits allow entry for new traders in easy conditions.

The deposit limit is not as low as Exness. However, it is still lower than the majority of brokers. The deposit limit for South African brokers is 75 ZAR.

Spreads

The average spread rates for HotForex are 2.03 pips. The spreads for NAS100 are still higher than average trading indexes.

Regulations

HotForex is another highly regulated Forex broker in South Africa. If you are trading with a local broker, then we suggest going with a regulated broker.

  • FSCA
  • CySEC
  • FCA

South African authority FSCA is a reputed authority. European authority CySEC watches over HotForex and annually audits this broker as well.

The other two brokers are reviewed in the following chart;

Broker

Minimum Deposit

Spreads

Regulations

XM 5 USD Three pips ASIC, CySEC
Tickmill 100 USD 1.93 pips CySEC, FCA, and FSCA

 

Conclusion

NAS100 brokers in South Africa are getting in a competitive groove. Hence, we suggest traders consider our carefully chosen brokers.