CFDs, or Contracts for Difference, are a type of derivative that allows traders to speculate on the price movements of underlying assets without actually owning them. CFD trading is a popular investment option in South Africa, and many CFD brokers offer bonuses to attract new customers. However, not all CFD bonuses are created equal. Some CFD Brokers Bonus for South Africa with some other perks, while others offer smaller bonuses with more strings attached.
Traders Union is a leading independent review platform for brokers. The platform has reviewed over 100 CFD brokers and has awarded its top rating to only a handful of them.
In this blog post, we will take a look at the best CFD brokers in South Africa that offer bonuses, according to Traders Union.
The Best CFD Brokers in South Africa with Bonuses
According to Traders Union, the following are the best CFD brokers in South Africa that offer bonuses, according to the Traders Union:
|Bonus||100% Tradable Protection Bonus||Up to 100% Bonus on Deposits||50% Deposit Bonus|
|Regulation||International Financial Services Commission (IFSC)||Financial Sector Conduct Authority (FSCA)||Australian Securities and Investments Commission (ASIC), Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)|
|Tradable Instruments||CFDs, Forex, Stocks, Indices, Cryptocurrencies||CFDs, Forex, Stocks, Indices, Cryptocurrencies||CFDs, Forex, Stocks, Indices, Commodities, Metals|
|Trading Platform||MetaTrader 4, MetaTrader 5, cTrader, R Trader||MetaTrader 4, MetaTrader 5, AvaTradeGO||MetaTrader 4, MetaTrader 5|
|Account Types||Pro-Standard, ECN-Pro NDD, Prime, R Trader||Standard, Spread Betting, Options||Micro, Standard, XM Ultra Low, Shares|
RoboForex is a popular CFD broker that offers a variety of bonuses to South African traders. These bonuses can be a great way to boost your trading account and increase your chances of making profits.
One of the most popular RoboForex bonuses is the Welcome Bonus. This bonus is available to new traders who open a live account with RoboForex. The Welcome Bonus is a 100% deposit bonus, up to $1000. This means that if you deposit $1000 into your account, RoboForex will add another $1000 to your account, giving you a total of $2000 to trade with.
It is a leading global CFD broker that offers a generous welcome bonus of up to $10,000. The bonus is available to new customers who open a real-money account and deposit at least $100. AvaTrade is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Central Bank of Ireland (CBI).
AvaTrade offers a wide range of CFDs to trade, including forex, stocks, indices, commodities, and cryptocurrencies. The broker also offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5.
It is another leading global CFD broker that offers a welcome bonus of up to $3,000. The bonus is available to new customers who open a real-money account and deposit at least $50. XM is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).
XM offers a wide range of CFDs to trade, including forex, stocks, indices, commodities, and cryptocurrencies. The broker also offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5.
How to Get a CFD Bonus in South Africa
To get a CFD bonus in South Africa,
- Open a real-money account with a CFD broker that offers bonuses.
- Deposit at least the minimum amount required to qualify for the bonus.
- Once your deposit has been processed, the bonus will be credited to your account.
The Pros and Cons of CFD Bonuses
Traders Union experts have made very deep research. There are both pros and cons to CFD bonuses. On the one hand, bonuses can provide you with a significant amount of extra capital to trade with. This can be a great way to increase your profits or reduce your losses. On the other hand, bonuses often come with restrictions. For example, you may be required to trade a certain amount of volume before you can withdraw your profits. However, the Traders Union reported that if you are inexperienced then you should try copy trading South Africa, too.
Is a CFD Bonus Right for You?
Whether or not a CFD bonus is right for you depends on your individual circumstances. If you are a new trader and you are looking to increase your profits, then a CFD bonus can be a great option. However, if you are an experienced trader and you are not comfortable with the restrictions that are often associated with bonuses, then you may want to avoid them.
CFD bonuses can be a great way to increase your profits or reduce your losses. However, it is important to understand the pros and cons of CFD bonuses before you decide to claim one. If you are a new trader, then a CFD bonus can be a great way to get started. However, if you are an experienced trader, then you may want to avoid them.
Here are some additional tips for choosing a CFD broker with a bonus:
- Choose a broker that is regulated by a reputable financial authority. This will help to ensure that your money is safe and that you are treated fairly.
- Read the terms and conditions of the bonus carefully before you claim it. Make sure that you understand all of the restrictions that apply.
- Only claim a bonus if you are confident that you can meet the requirements. If you cannot meet the requirements, you may not be able to withdraw your profits.
CFD trading can be a risky investment, so it is important to do your research before you start trading. By understanding the pros and cons of CFD bonuses, you can make an informed decision about whether or not a bonus is right for you.