Top NASDAQ Brokers in South Africa 2022
In the realm of stock markets, the NASDAQ 100 is a well-known benchmark. In terms of total market capitalization, it is an index of the world's largest publicly traded companies on NASDAQ.
Among these companies are Alphabet, Facebook, Amazon, Apple, Tesla, and many others. It is also known as US TECH 100, or NAS 100.
The NASDAQ can be traded as a CFD instrument with a variety of spreads and features with many South African FX and CFD brokers, and we list the best of these on this comprehensive review.
1. Exness
Overview
Exness is a market maker forex and CFD broker that is regulated by the FCA, the FSCA, and the Cyprus Securities and Exchange Commission, and is one of the best NASDAQ Forex brokers in South Africa.
With an average spread of 5.67 pips per lot for 1 Mini Lot Contract and a margin requirement of 1 percent on the Standard account, Exness provides CFDs on the US Tech 100 index (USTECm).
Pros
- Well-regulated
- Tight spreads
- Over 130 currency pairs
Feature
- Regulation – CySEC, FCA
- Minimum deposit from $1
- Average spread from 5.67 pips per lot for 1 Mini Lot
- Commissions from 3 USD and 10 USD per 1 lot for CFDs
- No Deposit/Withdrawal Fees
- Maximum Leverage – 1:2000
- Bonuses – Standard + 10% Bonus Programme
- Customer Support – 24/5 – multilingual
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2. XM
Overview
On XM's platform, NASDAQ CFDs are accessible for as little as US100. The maximum amount of leverage available with this instrument is one 1:100.
When opening an account with XM, the minimum deposit required is $5 for all of their account types, making it one of the most competitive NASDAQ Forex brokers in South Africa.
Pros
- Low minimum deposit
- Comprehensive educational offering
- Streamlined account opening process
Cons
- Inactivity fee charges after 90 days on live accounts
- Limited product portfolio
Feature
- Regulation - IFSC, ASIC, CySEC, FCA and DFSA
- Minimum deposit from $5
- Average spread from 0.1 pips
- Commissions from $3.5 commission per $100 000 traded
- No Deposit/Withdrawal Fees
- Maximum Leverage – 1:100
- Bonuses - $30 No deposit bonus
- Customer Support – 24/5
3. Tickmill
Overview
Tickmill is a forex broker licensed by the FSCA On their platform, NASDAQ is accessible under the symbol USTEC.
The minimum amount necessary to start a trading account at Tickmill for NAS100 trading is one hundred dollars ($100). They provide a maximum leverage of 1:100 for this instrument, with a typical spread of 1.93 for a contract size of 0.01 lot (0.1 lot).
Pros
- STP model
- Advanced trading software
- Competitive pricing
- Well regulated
- High leverage
Features
- Regulation – FSA
- Minimum deposit from $100
- Average spread from 1.93 for NASDAQ
- Commissions from 2 per side per 100,000 traded
- No Deposit/Withdrawal Fees
- Maximum Leverage – 1:100 NASDAQ
- Bonuses - $30 Welcome Bonus
- Customer Support – 24/5
4. HotForex
Overview
HotForex is a STP broker that is regulated by the FCA, the FSCA, and the Cyprus Securities and Exchange Commission, amongst others. Traders in South Africa can trade with CFDs as well as futures on the US Tech 100 stock index with HotForex.
There is an average spread of 2.03 pip per lot on the CFD of the NAS 100, and there is a maximum leverage ratio of 1:50.
Pros
- No deposit or withdrawal fees
- Competitive spreads
Cons
- High commission charges on the Zero account
Features
- Regulation – CySEC, DFSA, FCA, FSA, FSCA
- Minimum deposit from $5
- Average spread from 2.03 pips for NASDAQ
- Commissions from USD 0.03 per 1K lot
- No Deposit/Withdrawal Fees
- Maximum Leverage – 1:50 for NASDAQ
- Bonuses - $30 no deposit bonus
- Customer Support – 24/5
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