can you recommend a broker with R 50 minimum deposit?

@chris_4eva - 1 year ago

South African forex brokers like RCG Markets & Space Markets have R50 minimum deposits and both of these brokers are FSCA regulated.

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@asamoah_the_great - 1 year ago

Quoted - chris_4eva

South African forex brokers like RCG Markets & Space Markets have R50 minimum deposits and both of these brokers are FSCA regulated.

I think FBK Markets has an even lower minimum deposit of R20 for their Micro Account and Vault Markets also has a R50 minimum deposit but I warn you: most of these brokers with R50 minimum deposit just want to lure you in as you may not be able to trade until your account balance is more than R50. I have friends who have had a similar experience with FBK Markets and they could not place a trade until their account balance was higher than the R50 deposit.

If you must go for a forex broker with R50 minimum deposit, I suggest you open a Micro Account so you will be allowed to at least trade micro lots.

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@melody_nk - 2 months ago

Space Markets all the way! FBK Markets is also good but their FSCA regulation is not direct (meaning they are a representative of another broker)

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@dipuo_kefilwe - 2 months ago

AvaTrade was running a promo where they said you could open an account with R50 in South Africa, I am not sure if the promo is still on.

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@godswillfx - 2 months ago

Quoted - dipuo_kefilwe

AvaTrade was running a promo where they said you could open an account with R50 in South Africa, I am not sure if the promo is still on.

Hey, just checked the latest on AvaTrade's official site.

Their minimum to open a real account is $100 (roughly R1,800–R2,000 in rand, depending on the exchange rate right now).

They used to run some welcome bonus offers, but those started at $100 minimum too and the last SA-specific one ended back in 2024.

No active R50 deal that I can find. Best to go straight to avatrade.co.za or contact their support to confirm before you sign up, things can change.

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@godswillfx - 2 months ago

Quoted - melody_nk

Space Markets all the way! FBK Markets is also good but their FSCA regulation is not direct (meaning they are a representative of another broker)

Hey, appreciate the honest take! Space Markets seems to be your clear favorite, and FBK Markets also gets a thumbs-up from you.

The bit about FBK’s FSCA regulation being indirect (they act as a rep for another broker) is useful to know, basically it means the main license sits with someone else, so the protection rules might work a bit differently.

Either way, both brokers have their fans. Always best for each person to check the regulation details themselves before jumping in. Thanks for sharing!

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