If you want the best in the South African Forex broker market, only two names come to mind, Tickmill and AvaTrade. Both brokers offer excellent quality services, and they are trusted and reliable. This article will discuss both brokers in detail and their features so our readers can make a calculated decision.
Tickmill broker
Tickmill is a very famous Metatrader broker. It is based in South Africa, and it offers all the premium features. Tickmill does offer very competitive commission-based pricing for professionals through its VIP and Pro accounts. It has been the top choice for many professional and institutional traders.
AvaTrade broker
AvaTrade is a trusted broker who is famous all across the world. It is best known for offering an extensive selection of trading platforms for forex and CFD traders and unique educational content that helped it get a Best in Class rating for Beginners for 2022.
Our testing found AvaTrade excellent for copy trading, competitive for mobile, and generally in line with the industry average for pricing and research.
Comparison
Here is a comparison between two brokers based;
History
Founded in 2006, AvaTrade has offices in 11 countries offers multiple trading platforms for web, desktop, and mobile devices, with spot forex and forex options in several asset classes, including cryptocurrencies. We provide CFD. AvaTrade has 300,000 registered traders, with over 3 million transactions each month and over $ 1.47 trillion in transactions since its inception.
Tickmill was founded in 2014 after Armada Markets moved its retail customers to Tickmill’s Seychelles office. You should know very well that it is regulated by the Financial Services Authority (FSA). Currently, the Tickmill brand has regulatory status in the United Kingdom, Cyprus, and Malaysia. Tickmill Group has more than 200 employees and more than 50,000 customers, according to their website.
Minimum deposit
Both brokers in our review have a minimum deposit limit of 100 USD. Hence, we can say that neither of these brokers is towards the lower end of brokers.
Offerings
The range of markets available in AvaTrade depends on the trading platform you choose and which of your brand’s global entities holds your account. AvaTrade offers 1,260 symbols in MT5 and about the same number of characters in WebTrader, but hundreds of these symbols are shelved.
Tickmill offers 85 tradable symbols, including currency pairs, indexes, metals, bonds, and cryptocurrency CFDs. There are also at least 62 symbols available for futures and options trading, all accessible from separate special accounts.
Verdict
Tickmill is most valuable to large numbers of high balance traders who want to trade only the most popular Forex and CFD commodities. Tickmill complements MetaTrader’s offering with an excellent selection of copy trading platforms, offering multiple account options with different pricing structures.
The disadvantages are the narrow market area, limited research material, and inadequate educational content. VIP accounts are very competitive prices, but there are better forex brokers that traders will consider in 2022
However, AvaTrade stands out with its trading platform options for beginners and a wide selection of educational content. This is the best-in-class award-winning category. The range of tradeable markets has almost doubled year on year, and spreads are highly competitive for clients called professional EU traders.
We leave the final decision to the trader, and you are the best person to decide for yourself. This, justforex minimum deposit is also a recommended article for our readers.
