My recommended broker I use to trade Nasdaq is Deriv Broker. The NASDAQ is a profitable index for traders that is operated and controlled by NASDAQ Inc. in the United States. With one of the best NASDAQ 100 Forex Brokers in Africa on this list, you may trade NASDAQ CFDs online.
To operate within the African boundaries, brokers offering online platforms to trade Nasdaq and FX must have an FAIS license and an ODP license (or a pending application with the FSCA). Providing Financial Services of any kind without being regulated by the FSCA is a criminal offense in Africa.
10 Best Nas100/Nasdaq Forex brokers in Africa
1. Khwezi Trade
Khwezi Trade is the best choice if you’re looking for a recognized and licensed South African brokerage firm.
Khwezi Trade, a branch of Khwezi Financial Services (Pty), is the first South African-owned FX platform to be granted an OTC license by the Financial Services Commission of South Africa (FSCA).
Khwezi Trade has trading accounts that are denominated in ZAR. Customers can take advantage of excellent trading conditions, attentive customer support, and a large selection of free deposit and withdrawal options provided by the South African broker.
Silver, Gold, Platinum, and Diamond are the four account tiers offered by Khwezi Trade. Each tier has its own set of characteristics and advantages. These accounts each have their own set of features and benefits, making them suitable for traders of all skill levels and trading styles.
Khwezi Trade is worth considering if you are a South African trader searching for a local broker with local regulation, local offices, local assistance, and a local bank.
pros and cons of Khwezi Trade
| Pros | Cons |
| ZAR Accounts are available | Individual stock trading not possible |
| FSCA regulations apply to this South African-based company | |
| Provides a wide variety of trading tools | |
| Trading costs are reasonable | |
| Authorised OTC licence ensures compliance with applicable regulations | |
| A vast variety of trading options are available |
Features of Khwezi Trade
| Feature | Information |
| Regulation | FSCA Authorised OTC Derivatives Provider |
| Minimum deposit from | R500 |
| Average spread from | 0,6 pips |
| Commissions from | NA |
| Deposit/Withdrawal Fees | NA |
| Maximum Leverage | 1:400 |
| Bonuses | 30% |
| Customer Support | 24/5 |
2. AvaTrade
AvaTrade is a Forex/CFD broker with a long history. It was created in 2006 and has its administrative headquarters in Dublin, Ireland. AvaTrade is one of the first major retail Forex/CFD brokers, therefore it has a long history.
AvaTrade offers a number of cutting-edge platforms, including as MT4 and MT5, WebTrader, AvaOptions, and the award-winning AvaTradeGO mobile app.
AvaProtectTM, a one-of-a-kind risk management solution, gives you the most secure trading environment possible. AvaTrade clients can choose from a large range of popular global instruments.
pros and cons of AvaTrade
| PROS | CONS |
| Broad range of tradable instruments | High EURUSD and inactivity fees |
| MetaTrader 4 and 5 available | |
| Excellent educational resources |
Features of AvaTrade
| Feature | Information |
| Regulation | Central Bank of Ireland, MiFID, ASiC, BVI |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | No commission on Forex |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | First Deposit Bonus |
| Customer Support | 24/5 – multilingual |
3. XTB
According to its website, XTB was created in 2002 and is currently one of the world’s largest stock exchange-listed brokers. It is well-known for conducting thorough research, being transparent, and finishing requests quickly. Low rates are available on all of XTB’s marketplaces and tradable assets.
FX trading, commodities, equities, ETFs, and cryptocurrency pairings are all examples of tradable assets. The main financial institutions, such as the Financial Conduct Authority, tightly regulate XTB (FCA).
Because XTB runs on two platforms, it can run on almost any computer or mobile device. XTB has won numerous international accolades for its low costs and quick order fulfillment.
pros and cons of XTB
| Pros | Cons |
| Low trading fees | High stock CFDs |
| Free deposit and withdrawal | Limited asset portfolio |
Features of XTB
| Feature | Information |
| Regulation | KNF, FCA, CySEC and IFSC |
| Minimum deposit from | $250 |
| Average spread from | 1.02 pips |
| Commissions from | 0.08% of trade value with $8 minimum |
| Deposit/Withdrawal Fees | $30 on withdrawals of less than $50 |
| Maximum Leverage | 1:500 |
| Bonuses | $40 No Deposit Bonus |
4. Forex.com
You may trade a wide selection of financial assets on Forex.com, including currencies, commodities, and stocks. The US-based company operates in an open and secure manner, despite being governed by a number of nations.
Forex.com is a prominent trading website for currencies and other assets around the world. The authorized brokerage has excellent security procedures in place to protect your money. Forex.com supports over 80 currency pairs, precious metals, futures, and options.
PROS AND CONS OF fOREX.COM
| PROS | CONS |
| Low Forex fees | Limited asset portfolio |
| High number of currency pairs | High stock CFD fees |
| Well-regulated |
Features OF FOREX.COM
| Feature | Information |
| Regulation | FCA, CIMA |
| Minimum deposit from | $50 |
| Average spread from | Variable |
| Commissions from | Commissions on the commission account only |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | Variable dependent on instrument traded |
| Bonuses | 20% Welcome Bonus |
| Customer Support | 24/5 |
5. OctaFX
OctaFX, a STP broker based in Saint Vincent and the Grenadines, was founded in 2011 and currently serves traders from over 100 countries.
OctaFX is regulated by the Cyprus Securities and Exchange Commission (CySEC), in addition to the Financial Services Authority of St Vincent and the Grenadines.
A minimum investment of 25 USD is required to start an OctaFX trading account, while OctaFX recommends that traders deposit at least 100 USD.
Hedging, scalping, and copy trading are all possible with OctaFX in tenths of a second. Islamic bank accounts are available to those who follow Islam.
pros and cons of OctaFX
| PROS | CONS |
| Ultra-fast execution | No VPS available |
| More than 30 forex pairs available | No Forex educational tools |
| Well-regulated |
Features of OctaFX
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $25 |
| Average spread from | 0.7 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | 50% Deposit Bonus |
| Customer Support | 24/5 |
6. FXTM
FXTM has earned a name for itself in the industry as a top broker in frontier and emerging markets.
An upgraded trading interface, proprietary copy-trading services, and high-quality educational resources are available to users. FXTM is one of the best in the business when it comes to commission-based pricing.
FXTM’s portfolio now includes 1,227 equities CFDs and 420 US-listed stocks, as well as 63 currency pairings and 0 cryptocurrency pairs. Although there is a limited variety of commodities, including index CFDs, the overall assortment of trading instruments is relatively competitive.
FXTM is a fantastic broker for high-frequency traders and scalpers. It has become a market leader for emerging and frontier market dealers.
PROS AND CONS OF FXTM
| PROS | CONS |
| Superb customer service | Inactivity and withdrawal fees |
| High maximum leverage | Limited product portfolio |
| Great educational tools |
Features OF FXTM
| Feature | Information |
| Regulation | CySEC, FCA, FSCA |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | No commission |
| Deposit/Withdrawal Fees | $3 |
| Maximum Leverage | 1:500 on average |
| Bonuses | $300 Trading Bonus |
| Customer Support | 24/5 |
7. GO Markets
GO Markets is a regulated broker that offers over 600 trading products from a single account, including Forex, Share CFDs, Indices, Metals, and Commodities.
They offer robust and user-friendly trading platforms, as well as a variety of trading materials and a complete educational center.
Go Markets offers exceptionally competitive trading conditions, including tight spreads, low fees, and quick transaction execution speeds at the best rates currently available. There are numerous deposit and withdrawal options accessible, as well as customer assistance available 24 hours a day, seven days a week.
Pros and cons of Go Markets
| Pros | Cons |
| Low trading fees | Limited account options |
| Ultra-fast execution | |
| Advanced analytical tools | |
| Low minimum deposit |
Features of go markets
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $1 |
| Average spread from | 1.5 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | 30% Deposit Bonus |
| Customer Support | 24/5 |
8. Exness
Exness is authorised to operate by the Financial Services Authority (FSA) of Seychelles and the Financial Sector Conduct Authority (FSCA) of South Africa.
Users can trade on more than 200 financial CFD products, including FX, stocks, indices, energy, metals, and cryptocurrencies, using the broker’s unique online trader interface or MetaTrader 4/MetaTrader 5.
Virtual Private Server (VPS), social trading, trade calculators, and Tick History downloads are just a few of the firm’s other trading offerings. Having said that, the research and educational materials are also jam-packed with useful information.
pros and cons of Exness
| PROS | CONS |
| Well-regulated | |
| Tight spreads | |
| Over 130 currency pairs |
Features of Exness
| Feature | Information |
| Regulation | CySEC, FCA |
| Minimum deposit from | $1 |
| Average spread from | 1.3 pips |
| Commissions from | 3 USD and 10 USD per 1 lot for CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | Standard +10% Bonus Programme |
| Customer Support | 24/5 – multilingual |
9. FP Markets
FP Markets is a well-known CFD and foreign exchange broker. On nearly 10,000 CFD items, raw, tight spreads of 0.0 pips are offered.
Customers can use the broker’s raw pricing, which it receives directly from its top-tier liquidity sources, to tap into a broad liquidity pool of regulated financial institutions.
pros and cons of FP Markets
| PROS | CONS |
| Low forex fees | High stock CFD Fees |
| Streamlined and fast account opening process | Limited product portfolio |
| Fast processing for deposits and withdrawals |
Features of FP Markets
| Feature | Information |
| Regulation | Australian ASIC, Cypriot CySEC, SCB |
| Minimum deposit from | $100 |
| Average spread from | 0.5 pips |
| Commissions from | $55 monthly commission for IRESS Trader users only |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | $30 Welcome Bonus |
| Customer Support | 24/5 |
10. Pepperstone
FP Markets is a well-known CFD and FX brokerage firm. Over 10,000 CFD items have raw, tight spreads of 0.0 pips available.
Customers can use the broker’s raw pricing, which it receives directly from its top-tier liquidity suppliers, to access a large liquidity pool of regulated financial institutions.
pros and cons of Pepperstone
| Pros | Cons |
| No minimum deposit | Limited number of instruments |
| Low trading fees for forex | No additional research tools |
| No added costs for withdrawals or deposits |
Features of Pepperstone
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit from | AUD200 |
| Average spread from | 0.4 pips |
| Commissions from | ‎$3.76 commission per lot per trade |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
I am Keith Rainz a content creator in Zambia. I specialize in forex and crypto trading. You can WhatsApp me via +260977770202.
