Binary Trading Reviews South Africa

All-time Bitcoin Brokers in South Africa 2022

We compared xx+ Bitcoin CFD brokers in South Africa, and take listed the ones that offering Bitcoin trading at lowest fees.

Best Bitcoin Brokers in South Africa for 2022
If you are looking to trade bitcoin in S Africa, y'all can practise information technology in 2 ways.

Commencement, yous tin buy Bitcoin directly through a crypto exchange, store it in a BTC wallet & look for the Bitcoin'due south price to rise, then sell it after when bitcoin is at a higher price to make a turn a profit. The downside of this is the risk related to security of your BTC wallet, and the exchange, and the fees involved in exchanging. Besides, y'all cannot place a sell order if you want to speculate on the fall in toll of Bitcoin.

Second method is to trade Bitcoin as a CFD trading instrument at regulated forex brokers, without actually owning the asset i.e. you lot don't own bitcoin but are only speculating on its price.

Here in this tutorial, we will cover the brokers that offering leveraged Bitcoin trading as CFDs in SA with the lowest fees.

For this guide, we looked into 20+ CFD brokers that offer Cryptocurrency trading in Southward Africa. We checked if they are locally regulated, number of crypto CFDs bachelor on their platform, bitcoin trading fees, multi device support, and their customer back up.

And we have only listed downward best regulated bitcoin brokers that offer crypto CFD trading for multiple crypto-currencies like BTC, Ethereum & Litecoin, so that you tin can speculate on the cryptocurrency market place fluctuations in a regulated environment.

Let's start!

All-time Bitcoin Brokers Compared

Here is our comparing of the bitcoin trading fees, regulations, available cryptos, deposit required, and more factors for the top brokers to offering bitcoin trading in South Africa.

one. Exness – Best Bitcoin Broker in South Africa

Overall Rating 9.1/10

Visit Exness

Bitcoin Trading Fees: 1161.2 pips on average with Standard Account.
Minimum deposit: $1
Broker'southward Regulations: FSCA & FCA
Available Cryptos: vii Crypto CFD pairs

Our #i Rated Bitcoin Trading platform in S Africa

Exness is a CFD trading broker that is licensed with FSCA in South Africa, FCA in the U.k.. So, information technology is a well regulated platform.

Exness offers as high every bit ane:100 leverage for cyrpto CFD trading. The minimum deposit required on their platform is $1 USD.

Trading is available on seven cryptocurrency CFD pairs i.e. BTCUSDm, BCHUSDm, BTCJPYm, BTCKRWm, ETHUSDm, LTCUSDm & XRPUSDm. Their spread for crypto trading is fleck higher on average & the exact spread depends on the crypto musical instrument that y'all are trading & the market place weather condition.

They offer Metatrader 4 & 5 trading platforms. At that place are no fees on eolith & withdrawals.

Exness Pros

Licensed with FSCA in Due south Africa.
vii crypto CFD pairs.
Low minimum deposit.
Nada deposit & withdrawal charges

Exness Cons

Some users accept complained about back up being inaccessible at times or slow to reply to queries.

read our detailed Exness review

2. Plus500 – Overall All-time Cryptocurrency CFD provider

Overall Rating ix.1/x

Visit Plus500 Trading CFDs is risky. Your capital is at risk.

Bitcoin Trading Fees: Variable depending on the trade.
Minimum deposit: R1500
Broker's Regulations: ASIC, CySEC & FCA
Bachelor Cryptos: 14 Crypto CFD pairs

Our #ii Rated Bitcoin CFD platform in South Africa

Plus500 is a regulated CFD trading platform, which besides accepts Southward African traders. They are regulated with tier one regulators: ASIC, FCA & CySEC. They have xiv cryptocurrency CFD instruments available for trading on their CFD platform: Bitcoin, Ripple, Ethereum & 11 more.

Plus500 has the most number of crypto CFD instruments available out of all the platforms that we accept compared. They offer max. leverage of up to 1:xxx; depending on the crypto pair.

Trading is available on 14 cryptocurrency CFD pairs i.e. BTCUSD, LTCUSD, XRPUSD, ETHUSD, BTCETH, NEOUSD, ADAUSD (Cardano/USD) BABUSD (Bitcoin Cash ABC/USD), IOTUSD & more than. The trading fees depends on the crypto CFD pair that y'all are looking to trade, only it is a flake college than other platforms.

They offering their ain trading platform available on spider web & mobile, and it is quite user friendly & piece of cake to use. The deposit & withdrawals are commissions-free, their lodge execution speed is also quick without delays. They also offer Hazard Management Tools, which includes Guaranteed Stop Gild protection. Their support is also proficient, available via Alive conversation & emails.

Plus500 Pros

Plus500 is a regulated CFD provider, regulated with ASIC (AFSL N. 417727), FCA (FRN 509909) & CySEC (Licence No. 250/14).
fourteen crypto CFD pairs available on their platform.
Their minimum deposit is R1500, which is not to high. And zero fees on deposits & withdrawals.
User friendly platform, available on mobile & web.
Negative residuum protection & guarantee Stop loss available.
Support is good & available 24/5 via Live Chat & emails.

Plus500 Cons

The trading fees for some Crypto CFDs is a flake higher than other platforms.

read our detailed Plus500 review

3. Hotforex – regulated with FSCA & offers Bitcoin Trading

Overall Rating 9.1/10

Visit Hotforex

Bitcoin Trading Fees: On average 30 units per BTCUSD trade.
Minimum deposit: $5
Broker'south Regulations: FSCA, FCA & CySEC
Available Cryptos: 7 crpto pairs i.e. BTCUSD, BTCEUR, ETHUSD. ETHEUR, LTCEUR, LTCUSD & XRPUSD

Rank #ii Bitcoin Banker in South Africa

Hotforex is a FCA & FSCA regulated CFDs & forex broker. They offer CFD trading on 4 cryptocurrencies Bitcoin, Litecoin, Ethereum & Ripple.

HotForex offers margin trading on cryptocurrencies with upto 1:10 leverage on this instrument, with trading available on 7 cryptocurrency pairs.

They accept very depression fees required to merchandise bitcoin, and y'all can merchandise one Bitcoin for effectually $thirty spread with them. You can place limit & cease orders to open/shut your trade, so you tin can choose your ain position entry, exit levels. They also offer negative balance protection with each account.

They offer quick social club execution, then most of the trades with them are fulfilled without delays or re-quotes.

Hotforex Pros

Hotforex is regulated with FCA (UK), CySEC, and in South Africa with FSCA nether FSP No: 46632. Then information technology is considered safety to merchandise with them.
7 crypto pairs are available for trading.
Their club execution is quick.
Their Bitcoin CFD trading fees is very competitive at around thirty units of currency ($30 USD) on average per 1 BTCUSD merchandise.

Hotforex Cons

The standard market trading hours at Hotforex are limited from Monday to Friday. So yous cannot trade bitcoin CFD on weekends.

too read our detailed Hotforex review

4. IC Markets – Low cost Bitcoin CFD broker

Overall Rating 9.1/x

Visit IC Markets

Bitcoin Trading Fees: On average $10 for one BTCUSD trade.
Minimum eolith: $200
Broker's Regulations: ASIC
Available Cryptos: 10 Cryptocurrency pairs

Ranked #3 Bitcoin Broker in South Africa

IC Markets is a low cost broker for Bitcoin CFD trading in South Africa. They are regulated with tier 1 ASIC regulation, and have the lowest fees when compared with other bitcoin brokers. Their cryptocurrency instruments available for CFD trading are also college in number; including Bitcoin, Litecoin, Ripple, Ethereum, Nuance Coin & 4 other cryptos.

IC Markets has the lowest bitcoin trading fees of all the brokers that we have compared so far with around $10 USD on Bitcoin/USD CFD. They permit up to ane:10 leverage on all their Cryptocurrency CFD instruments.

You lot tin can trade on x cryptocurrency pairs i.e. BTCUSD (Bitcoin/USD), BCHUSD (Bitcoin Cash/USD), ETHUSD (Ethereum/USD), LTCUSD (Litecoin/USD), DSHUSD (Nuance coin/USD), XRPUSD (Ripple/USD), EOSUSD (EOS/USD), EMCUSD (Emercoin/USD), NMCUSD (Namecoin/USD) & PPCUSD (PeerCoin/USD). This is the highest offering of main cryptos & Altcoins by whatsoever regulated CFD banker.

They offer three trading platforms including MT4, MT5 & cTrader. Their gild execution speed is also quick without delays, plus their support is also fair.

IC Markets Pros

IC Markets is ASIC regulated CFD banker (AFSL No. 335692).
10 cryptocurrencies bachelor for CFD trading.
Their spread for crypto trading is very low.
IC Markets is a ECN banker, so there is no disharmonize of interest.
Cypher Fees on deposits & withdrawals.
Their support is very skillful & available 24/five.

IC Markets Cons

They don't offer negative residual protection.

also read our detailed IC Markets review

Beginners Guide to Bitcoin Trading in South Africa: FAQs

What is Bitcoin?

Bitcoin is the globe'south largest cryptocurrency by market cap, and it was launched in 2009 past Satoshi Nakamoto. Bitcoin is decentralised across the peer to peer network so nobody controls it, simply everybody can take office in the network to make peer-to-peer transactions.

The transaction record of Bitcoin is stored in the course of Blocks in Blockchain maintained by Bitcoin publicly, allowing everyone in the network to come across the public cardinal of the owner and the details of the transaction.

Cryptocurrencies are digital stores of value, which are used as a medium of exchange for decentralised financial transactions. The word "Crypto" refers to the encryption technique used by the Cryptocurrencies to secure those transactions, control the creation of new currency and verify those transactions.

Due to the growing popularity of Bitcoin, and its volatile price movements, many new & experienced traders trade it as a speculative instrument. Then many CFD brokers like Plus500, Hotforex, FXTM; and crypto exchanges take started to offer trading on diverse cryptocurrencies.

What are Bitcoin CFDs?

A Contract for Differences (CFD) is an organisation that allows traders to trade the underlying asset without actually owning the asset. In other words, traders can speculate on an instrument'southward toll movements, anticipating a ascent or fall on its toll and take a speculative bet.

For example: If the trader thinks the Bitcoin's toll volition rising against USD, he would place a Purchase order – if it rises as expected, he can sell the Bitcoin CFD later for a college cost and profit from the 'difference'.

Conversely, if the trader thinks the Bitcoin'south price is going to fall against the United states Dollar, he would open a sell position – if the price goes downward as expected, he must place an offsetting Buy social club to exit the merchandise and book a profit.

Cryptocurrency CFDs are where the underlying asset of the CFD would be a Cryptocurrency similar Bitcoin. Just like trading any other CFDs, you tin trade & speculate on the price of Bitcoin confronting USD Dollar by using Bitcoin CFDs.

All this is done without physically exchanging your currency for BTC which is washed in case of buying Bitcoin with an Substitution & storing them in digital wallets.

The chief advantage of trading Bitcoin as a CFD, is that you lot don't have to worry almost the security of whatsoever wallet, and in virtually cases the trading fees with regulated Bitcoin CFD brokers is much lower compared to an exchange.

Although the negative side is that you lot won't actually own bitcoin(s).

Moreover, recall that CFDs are complex financial products and are not intended for beginners, and you lot take chances losing your invested capital. Even experienced traders lose, so you lot must invest wisely & with correct knowledge of this asset.

How can you merchandise Bitcoin in South Africa?

To trade Bitcoin CFDs, you demand to open an account with a regulated CFD broker that offers Cryptocurrencies to trade.

We advise you demo trade start and when you lot are familiar with the trading environment, and have a working trading strategy, only then put your money with the brokers who are regulated with SA's regulator Fiscal Sector Carry Dominance (FSCA) or with global regulators similar FCA, ASIC and CySEC.

There are some good FCA, ASIC & FSCA regulated brokers that offer bitcoin CFD trading. With these brokers, Bitcoin can exist traded as a CFD confronting major currencies like the US Dollar (USD) or Euro (EUR), in the form of pairs similar BTC/USD, BTCEUR or in some cases against other Cryptocurrencies like BTC/ETH (Bitcoin against Ethereum) with Plus500 broker.

Trading on Bitcoin & other Cryptocurrency CFDs is available on weekdays or 24×7, depending on your broker.

Besides, many bitcoin brokers give traders access to using leverage, which can be from 1:2 to one:x at a maximum. Simply due to the volatile nature of Cryptocurrencies, brokers tend to offer lower margin/leverage every bit compared to other assets like Forex or CFDs on Indices, metals etc.

Remember that while using leverage has a potential to increment your profit if you are right, just information technology can also magnify the losses if the speculation goes wrong. You can even lose your unabridged trading capital.

So, information technology is important to never use higher than 1:2 leverage while trading Bitcoin CFDs or whatsoever other Crypto CFDs.

Summary: best bitcoin brokers in South Africa

Bitcoin Broker Name	Banker'south Regulation(southward)	BTCUSD Trading Fees	Leverage	Minimum Deposit	Available Crypto Pairs	Start Trading
Plus500	ASIC, FMA, FSP, CySEC and FCA	variable	upwards to 1:20 for BTCUSD	R1500	14 Crypto CFDs	go started
IC Markets	ASIC	On average 10 USD per i BTCUSD	upwards to 1:5	$200	x crypto pairs. BTCUSD, ETHUSD, LTCUSD, XRPUSD & five other pairs.	get started
Hotforex	FCA, FSCA, CySEC	$30 USD for i BTCUSD	upto 1:10	$v	4 Cryptocurrencies on BTC, LTC, ETH, XRP	get started

Oftentimes asked questions: Bitcoin Brokers

Which is the all-time Forex Broker for trading Bitcoin?

For traders who want to trade Bitcoin as a CFD instruments, at that place are brokers like Tickmill HotForex & Exness. These brokers offering CFD trading on Cryptos & are regulated for offer CFDs or derivatives.

Which Bitcoin Broker has the Lowest Fees?

Exness has a typical spread of 272.half-dozen pips for BTCUSD CFD. HotForex SA has a typical spread of 26 & Tickmill has spread of lxxx for 1 lot.

Should I trade Bitcoin CFDs?

Trading bitcoin as a CFD instrument is highly risky for retail traders as it involves leverage or margin trading. For example, HotForex offers a leverage of upto 1:10 on Crypto CFDs. With crypto CFDs like BTCUSD CFD, you are speculating on the value of Bitcoin, and y'all can go Long or Short. You don't ain Bitcoin while trading CFDs.

Due to the risky nature of Bitcoin & leveraged CFDs, retail traders should not merchandise this instrument. Only professional traders who empathise the risks & have strategies to manage their risk should merchandise CFDs on cryptos.