Having acquired a licence from the Financial Sector Conduct Authority (FSCA), a leading multi-asset broker PrimeXBT has announced its plans to expand into the South African market. Local traders will be able to benefit from the company’s innovative trading platform and professional tools, as well as some of the most competitive trading conditions, while enjoying the confidence and security that comes from trading with a regulated entity.
PrimeXBT brand has been providing trading products and services globally since 2018 and has built a reputation for its easy-to-use platform and beginner-friendly approach. Its upcoming launch in South Africa comes as part of its commitment to lowering barriers to entry for investing and making the financial markets accessible to everyone. PrimeXBT brand is also popular among traders for the effort it puts into providing a localised experience. This often includes trading instruments like local currency pairs, support for local currency payments, and popular regional payment options.
Quick & Easy Onboarding and Low Starting Costs
PrimeXBT brand has put a lot of effort into ensuring its client experience is as user-friendly as possible, making it easier than ever to get started with online trading. Its platform is clear and easy to navigate and includes all the tools needed to capitalise on the markets, making it suitable for beginner and experienced traders alike.
With a minimum deposit as low as $1 for Forex and Crypto CFDs ($5 for Commodities, $10 for Indices), only a small initial investment will be needed to place a trade, opening the door to the financial markets to traders of all sizes. Payments in South African rand will also be supported, as will local banks and regional third-party payment providers like Capitec Pay. PrimeXBT will offer leveraged trading, which can help traders open larger positions with less funds. As leveraged trading involves risk, the company will also provide a range of risk management tools including stop loss and take profit to help traders manage this.
Low Fees on Over 100 Markets
One of the major benefits of the PrimeXBT platform is the array of instruments that will be available to trade in South Africa. With one account, traders will be able to access over 100 financial markets including Forex, CFDs on Crypto, Indices and Commodities, and Crypto Futures. Available instruments will include currency pairs featuring the South African rand like USDZAR, as well as popular Commodities and Indices like Gold and the NASDAQ. This will allow traders to gain exposure to multiple markets and diversify their investment portfolios, without having to juggle multiple platforms. Diversification can also be a good way for traders to manage their risks.
PrimeXBT’s trading conditions are highly competitive, with spreads starting as low as 0.1 pips. Trading fees start from zero for non-Crypto CFDs, including Forex, Indices, and Commodities, while a small fee of 0.05% applies to Crypto CFDs. For Crypto Futures, trading fees start as low as 0.01%. With this competitive fee structure, PrimeXBT will help traders capitalise on more markets while spending less of their own funds, further contributing to its mission of democratising financial market access.
Trading Education for All Experience Levels
PrimeXBT brand has focused heavily on providing comprehensive educational resources to help traders develop their knowledge of the markets. The company’s Senior Market Analyst, Matthew Hayward, a South African native, leads this initiative, sharing his expert knowledge. The broker also has plans for education initiatives in South Africa, to provide even more value for local traders.
With PrimeXBT’s demo Trading Contests clients will be able to put what they have learned into practice, testing their strategies in a risk-free environment. The contests see clients compete against each other using accounts credited with virtual funds, helping prepare them for trading the real live markets. The company’s Rewards Center will also help traders develop their skills further and earn exclusive rewards by taking on and completing a range of trading challenges. PrimeXBT’s commitment to trading education at all levels allows traders to develop at their own pace, helping them grow at each stage of their journey.
Global Reach with a Local Approach
With PrimeXBT’s expansion into South Africa, local clients will be able to benefit from trading with a globally trusted and regulated company, while enjoying a localised trading experience catered to their specific needs and goals. The broker is committed to providing highly competitive trading conditions and some of the lowest starting costs, making online trading accessible to more and more people.
Learn more about PrimeXBT
Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. The Company does not accept clients from the Restricted Jurisdictions as indicated in our website.
PrimeXBT (PTY) LTD (previously named Stack Advisory (PTY) LTD) is an authorised financial services provider in South Africa with licence number 45697. PrimeXBT (PTY) LTD acts as an intermediary between the investor and the market maker which is the counterparty to the products purchased through PrimeXBT.