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 b