Best Professional Trading Accounts

Enjoy higher leverage today and negative balance protection with a professional trading account. We've compared the best pro trading accounts in South Africa, and reviewed their eligibility criteria.

Best brokers

  1. FxProAward Best MetaTrader Broker 2020
  2. AvaTradeAward Best Mobile Trading Platform 2021
  3. HYCMAward Best Forex Broker UAE, 2022
  4. Fortrade

Broker reviews

FxPro (FxPro.com) is a global broker, winner of 95+ awards including "Best MetaTrader Broker" in 2020. Trade 250+ instruments across a wide range of asset classes on MT4/5 or cTrader. FxPro accepts all trading styles without restrictions.

  • Risk warning: 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Spread Betting work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
  • Regulated entity (South Africa): FxPro Financial Services Ltd (FSCA No. 45052)

$500
deposit

1:200
leverage

Instant
execution

$500
deposit

1:200
leverage

Market
execution

$500
deposit

1:200
leverage

Market
execution

$500
deposit

1:200
leverage

Market
execution

AvaTrade (AvaTrade.com) is an award-winning online broker. Trade CFDs on Forex, crypto-currencies, shares, metals and more on MetaTrader 4 or 5. AvaTrade accepts all Expert Advisors except those with a focus on arbitrage.

  • Risk warning: 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5, Copy trading
  • Regulated entity (South Africa): Ava Capital Markets Pty (FSCA No. 45984)

$100
deposit

1:400
leverage

Instant
execution

HYCM (HYCM.com), formerly HY Markets, is an award-winning regulated online broker. Trade over 300 instruments on fixed or variable spreads over MetaTrader 4 or 5.

  • Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, MetaTrader 5
  • Regulators: Cayman Islands, Cyprus (EU), Saint Vincent and the Grenadines, UAE, UK

$100
deposit

1:500
leverage

Instant
execution

  • Risk warning: 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
    * Availability subject to regulation.
  • Platforms: MetaTrader 4, Mirror trading
  • Regulators: Australia, Belarus, Canada, Cyprus (EU), UK

$100
deposit

1:200
leverage

Instant
execution

Eligibility criteria

We reviewed the eligibility criteria behind the professional accounts featured on this page, including FxPro's and AvaTrade's professional accounts, and summarised our findings below. You'll need to meet at least two of the following three criteria to be eligible. Importantly, there's no automaticity and your broker will have the last word.

Criteria #1: Sufficient trading activity in the last 12 months

Requirement: you have carried out transactions, in significant size, on the "relevant market" at an average frequency of 10 per quarter over the previous four quarters (with a regulated broker). The "relevant market" includes OTC derivatives such, as leveraged CFDs or Forex.

Evidence: you'll need to provide recent (within last month) account statements in PDF format, from trading accounts with regulated brokers.

Criteria #2: financial instrument portfolio in excess of EUR 500,000

Requirement: you have a financial instrument portfolio in excess of EUR 500,000 (including cash deposits and financial instruments). Financial instruments include shares, debt instruments and derivatives (only cash deposits made to fund, or profits realised from investing in derivatives). This does not include real estate, direct commodity ownership or the notional value of derivatives.

Evidence: you'll need to provide recent (within last month) bank account statements and / or account statements in PDF format from trading accounts with regulated brokers. Alternatively, some brokers will accept a statement from a notary public confirming your net worth.

Criteria #3: relevant professional experience

Requirement: you work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services you desire to engaged in (e.g. OTC derivatives such as leveraged CFDs or Forex).

Evidence: you'll need to provide a letter from a current or former employer confirming that you were employed for more than a year in the financial sector and your role required knowledge of OTC leveraged derivatives/trading. Alternatively, some brokers may accept a payslip, or a screenshot from the FCA register.

Pros and cons of being a professional client

Once your broker has categorised you as a professional, rather than a retail trader, you'll immediately enjoy higher leverage. This will magnify both your potential profits and losses.

You'll also continue to enjoy negative balance protection from AvaTrade.com, FxPro.com or eToro.com, which means that you cannot lose more than your total deposit.

In addition, any funds you deposit with either AvaTrade, FxPro and eToro will remain segregated from your broker's own funds. However, this isn't necessarily the case. In the case of Fortrade.com, "your money will no longer be held in a segregated account, therefore when you fund your account, the ownership of your funds are transferred to (Fortrade) for the purpose of covering your obligations", unless otherwise agreed in writing.

Last but not least, you may no longer be covered by your regulator's investor compensation fund (depending on your jurisdiction). For example, if you live in the UK, you'll no longer be covered by the Financial Services Compensation Scheme (FSCS). And if you live in the European Union, you will no longer be eligible for the Investor Compensation Fund (ICF).

Importantly, your classification as a professional trader need not be permanent. If you change your mind, you can ask your broker to re-classify you as a retail trader at any time. And finally, if you're looking to trade large volumes, why not take a look at our selection of the best VIP trading accounts.