Leading multi-asset broker PrimeXBT recently announced the expansion of its Financial Sector Conduct Authority (FSCA) licence in South Africa to include Crypto asset services. This makes the broker one of the few regulated companies offering traders access to both Crypto and traditional markets. The move is seen as a significant step forward in secure and more accessible Crypto adoption in the country and the wider region.
South African traders can now access Crypto or fiat-denominated accounts on leading platforms like MetaTrader 5 (MT5), make deposits and withdrawals in Crypto or fiat, and use either as collateral for their trades. PrimeXBT also offers a robust Crypto exchange built into its platform, facilitating seamless currency conversions. This article will cover how the broker is reshaping the way local traders interact with the markets, empowering them to seize new opportunities confidently.
Setting Standards for Regulated Trading Environments
Regulatory clarity has always been essential to protecting traders and fueling innovation in the industry. Trust is one of the most important factors for traders choosing a broker. Reliability, support, transparency, and a genuine interest in client success set top brokers apart. Picking a regulated broker is often the best way to ensure these requirements are met.
The addition of Crypto to its existing FSCA-regulated offering reinforces PrimeXBT’s commitment to providing a secure, modern, and accessible trading environment for South African traders. It helps build trust and allows clients to explore new markets with full regulatory backing. In addition, the broker maintains strict security protocols to protect client data, funds, and assets.
Unlocking New Opportunities for South African Traders
MetaTrader 5 (MT5) is one of the most popular trading platforms in the industry. It offers access to a wide range of markets, providing a powerful trading experience alongside advanced tools to help traders execute various strategies. One of the platform’s limitations, however, is that it traditionally has only supported fiat currency as collateral, limiting its use by Crypto holders.
PrimeXBT’s MT5 integration and the addition of Crypto assets to its offering unlocks new opportunities for traders in South Africa. They can now access Forex and CFDs on Stocks, Indices, Crypto, and Commodities, from accounts denominated in USD or USDT. Deposits and withdrawals are available in ZAR via local banks and payment providers like Capitec Pay. The broker also accepts payments in BTC, ETH, USDT, and USDC. This allows Crypto investors to exchange their tokens for USDT and start trading on MT5 instantly.
Leading the Way with Competitive Trading Conditions
High trading fees have traditionally been an issue in South Africa, significantly impacting market accessibility and growth. This can include commissions, currency conversions, spreads, minimum deposits, and deposit and withdrawal fees, which can act as major barriers to traders with less money to invest.
PrimeXBT addresses these issues, offering some of the most cost-effective trading conditions in the industry. Trading fees on all non-Crypto CFDs like Forex, Stocks, Indices, and Commodities are as low as 0%, with spreads starting from 0.1 pips. For Crypto CFDs and Crypto Futures, trading fees start at 0.05% and 0.01% respectively. Clients can also earn fee discounts of up to 50%, depending on their trading volume. There are no deposit fees, and withdrawal fees begin at $0. The broker also offers leverage of up to 1000x, helping clients trade more for less. This competitive fee structure helps local traders be more efficient in the markets and keep more of their funds for trading.
Empowering Traders to do More with Crypto
With the expansion of its FSCA-regulated offering, PrimeXBT proves its commitment to delivering an all-in-one trading experience that focuses on innovation, reliability and accessibility. The broker builds on its existing foundation of trust by providing secure and regulated access to Cryptocurrencies. Its powerful MT5 integration also allows traders to experience this on a reliable platform, empowering them to explore exciting new opportunities with confidence.Start trading with PrimeXBT South Africa.