Since launching operations in South Africa in 2024 following its acquisition of a Financial Sector Conduct Authority (FSCA) license, leading multi-asset broker PrimeXBT has been actively engaging in the local market. The broker has focused on addressing the specific needs of South African traders through its innovative platform and services, resulting in it recently being named ‘Fastest Growing CFD Broker, South Africa 2024’ by the prestigious global financial publication World Finance.
PrimeXBT has been in operation since 2018, growing exponentially over the years to serve over a million active users in more than 150 countries worldwide. Commenting on the broker’s most recent award, Senior Market Analyst Matthew Hayward stated: “We’re committed to continually enhancing our offerings to meet the evolving needs of South African traders and contribute to the growth of the financial markets in the region.” This article will cover how PrimeXBT addresses the specific needs of local traders and why South Africans choose to trade with it.
Trading Platforms for All Experience Levels
PrimeXBT provides traders with multiple ways to access the markets including its innovative all-in-one platform, which is available on web and mobile, and MetaTrader 5 (MT5), the industry’s most popular platform, across all devices. The broker’s platform provides traders with instant access to over 100 markets including Forex, Crypto Futures, and CFDs on Cryptocurrencies, Indices and Commodities. On the MT5 platform, clients can access Forex and CFDs on Indices and Commodities, with support for more markets coming soon.
By providing South African traders with a range of platforms to choose from, PrimeXBT helps improve market accessibility by offering suitable tools for all experience levels. Its web platform is user-friendly and easy to navigate, providing a great entry point for beginners, while also offering advanced tools that satisfy the needs of more experienced traders. Those looking for a more traditional trading experience can opt for the MT5 platform, which equips users with a wide range of advanced tools, including the ability to automate trading through the use of Expert Advisors (EAs).
Low Fees & Competitive Trading Conditions
In the online markets, there are often substantial barriers to entry with trading fees and startup costs, especially in South Africa where these can be higher than in other regions. PrimeXBT is focused on breaking down these barriers and democratising the financial markets by providing some of the lowest fees and most competitive conditions in the industry. Minimum deposits start as low as $1, while leverage of up to 1,000x is also available, meaning traders can get started with a smaller initial investment. Of course, as with any trading activity, it’s important to understand the risks, and have a risk management strategy in place. The broker also provides traders with the tools to manage this in the form of stop loss and take profit limit orders.
PrimeXBT trading fees start from zero on all non-Crypto CFDs including Forex, Indices and Commodities, with spreads starting as low as 0.1 pips. For Crypto CFDs there is a small charge of 0.05%, while for Crypto Futures the fees are even lower, starting from just 0.01%. The broker’s competitive fee structure makes trading more accessible and affordable for South African traders. It helps them engage in a wide range of markets with minimal costs, allowing them to take advantage of more trading opportunities.
A Safe, Stable & Supportive Trading Environment
PrimeXBT’s years of experience provide local traders with a solid foundation to build on, as the broker uses its global expertise to offer a secure and stable trading experience. It works with top-tier liquidity providers to ensure clients benefit from deep liquidity and fast order matching each time they enter the markets, while its focus on cybersecurity and encryption helps protect client data and funds, providing the safest possible environment.
The broker’s acquisition of a FSCA license reinforces its commitment to regulatory compliance and transparency, meaning clients enjoy the confidence and protection that comes from trading with a regulated entity. PrimeXBT also offers 24/7 support, meaning clients can rest assured that if they have any questions, they can get the help they need from human support agents at any time.
Exclusive Rewards That Support Learning & Growth
PrimeXBT’s Reward Center and, in particular, its Trading Tasks system, promote learning and growth by challenging traders to achieve certain milestones (T&C apply). Clients are then rewarded for their efforts with exclusive turnover-linked bonuses based on their trading activity. With 4 steps to complete, each containing various challenges of increasing difficulty, the Trading Task system supports trader development while simultaneously providing clients with a sense of accomplishment as they achieve certain goals.
Any bonuses earned are kept in a dedicated Reward Account, meaning clients can easily manage their rewards and redeem them across their trading accounts. By providing a constant stream of bonuses, the broker motivates clients to continue their learning journey, helping them grow their knowledge and skills, and become better traders.
A Tailored Experience for South African Traders
PrimeXBT is also focused on localisation addressing the needs of South African traders. For instance, deposits and withdrawals can be made in South African rand, popular assets like USDZAR, Gold, and the NASDAQ are available to trade, and payment methods including local banks and 3rd party providers like Capitec Pay are supported.
As a complete package, PrimeXBT is very attractive for local traders, providing all the tools they need to engage in the markets and explore new opportunities.
Learn more about PrimeXBT South Africa.
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 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.