The 3 best Forex Brokers & platforms in South Sudan – Comparison & reviews 

Choosing a forex broker takes a lot of time, especially if you go through all the firms out there. Luckily, this review contains important information about four of the best brokers in South Sudan. This article will help narrow down your choices while looking at each of the brokers listed below.

See the list of the best Forex Brokers in South Sudan:

Forex Broker:
Review:
Regulation:
Spreads:
Assets:
Advantages:
Open account:
1. RoboForex
RoboForex logo
IFSC
Starting 0.0 pips & $ 4.0 commission per 1 lot traded
9,000+
(50+ currency pairs)
+ Huge variety
+ Micro accounts
+ Free bonus program
+ Leverage up to 1:2000
+ ECN accounts
+ MT4/MT5/cTrader
Live-account from $ 10(Risk warning: 79% of retail CFD accounts lose money)
2. BlackBull Markets
BlackBull Markets logo
FSPR, FSCL
Starting 0.0 pips & negotiable commission per 1 lot
500+
(64+ currency pairs)
+ ECN Broker
+ Deep pool execution
+ High liquidity
+ Best execution
+ Leverage 1:500
+ MT4/MT5
Live-account from
$ 200(Risk warning: 79% of retail CFD accounts lose money)
3. Pepperstone
FCA, ASIC, DSFA, SCB
Starting 0.0 pips & $ 3.5 commission per 1 lot
1,000+
(40+ currency pairs)
+ Fast execution
+ Large FX Broker
+ Good service
+ MT4/MT5/cTrader
+ TradingView Charts
Live-account from
$ 200(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

The list of the 3 best Forex Brokers in South Sudan includes: 

  1. RoboForex
  2. BlackBull Markets
  3. Pepperstone

1. RoboForex

The official website of the Forex Broker RoboForex

RoboForex is recognized as part of the list of the most prominent companies now active in the foreign exchange industry. Since its inception in 2009, Belize has served as the location of the company’s headquarters.

The International Financial Services Centers Authority is the regulatory body that keeps an eye on and monitors the activities of this broker.

ECN-Pro, R Trader, Pro-Cent, Pro-Standard, and Prime, are the five accounts available. Beginners who want to acquire trading skills while simultaneously making real-world deposits would benefit from micro accounts like the Pro-Cent account.

RoboForex account types in comparison

Withdrawals and deposits are free of charge at the broker. They do, however, charge a fee for inactive accounts. There are six different base currency alternatives to choose from. BTC, Gold, CNY, RUB, EUR, and USD are among them.

The website has several articles, videos, and books that provide step-by-step directions for novices. The broker offers a sample account and hosts monthly and weekly tournaments to encourage traders to choose this account type.

The web-based trading desk is accessible from both mobile and desktop personal computers. Additionally, it incorporates copy trading. This allows you to see the manner in which more seasoned traders carry out their trades.

The customer care staff can provide assistance in more than nine different languages. You can call the representatives, email them, or chat with them through the website or platform around the clock.

RoboForex Logo

Summary:

  • The required first deposit is only $10.
  • RoboForex is regulated by the IFSC
  • A $2 service fee is charged by the brokerage.
  • Spreads are at 1.3 pips.
  • Neteller, Skrill, Advcash, Perfect Money, credit cards, bank transfer, and debit card are among the payment methods available.

Disadvantages of trading with RoboForex

  • There are less than 40 forex pairs on the trading platform.

(Risk Warning: Your capital can be at risk)

2. BlackBull Markets

The official website of the Forex Broker BlackBull Markets

This specific brokerage is a well-known foreign currency trading firm that started operations in 2014. The corporation has offices in the United Kingdom, New York, Indonesia, and Malaysia, and its headquarters in New Zealand.

This broker is regulated by the Financial Markets Authority of New Zealand and the Financial Services Authority of Seychelles.

Customers at BlackBull Markets may open a Standard or Prime Account depending on their trading needs. When you look at these two accounts side by side, you will see that the spreads, the amount of the required minimum deposit, and the commission rate are all different.

When opening the Standard Account, you must make a minimum deposit of $200. On the other hand, to open your own Prime Account, you need to have a balance of $2,000 in your regular account. While the lowest spread for Prime Accounts is around 0.01, Standard Accounts may have a spread as high as 0.8. Prime Accounts are given priority when it comes to pricing and execution. Customers with Standard Account clients are not charged any additional costs. Customers with Prime Accounts must pay a $6 exchange charge for each transaction.

BlackBull Markets account types

Nine different base currencies are available to choose from. Euros, U.S. Dollars, GBP, AUD, CAD, ZAR, and JPY are included. When you withdraw money from your account, the broker will charge a withdrawal fee of $5. The price of using a foreign financial institution, on the other hand, rises to $20.

A huge variety of training programs and books are available on the Internet. To assist you in learning how to utilize the trading desk, video training is provided. Before making a free sample account available for trading, the brokerage business fills it with virtual money.

The mobile version of the online trading platform has made it possible for traders to do business almost anywhere globally. Chinese, English, Serbian, Spanish, and Uzbek are among the languages that have widespread support. 

You may reach out to the customer service staff by sending an email, utilizing the live chat on the platform, or calling them. But keep in mind that they are only open around the clock, five days a week.

BlackBull Markets logo

Summary:

  • A deposit of $200 is needed.
  • There is no charge for Standard Account customers.
  • Both the FMA and the FSA have awarded broker licenses.
  • The spreads are 0.8 pips.
  • Debit cards, credit cards, China Union Pay, FasaPay, Neteller, Skrill, and bank transfers are all options for paying the broker.

Disadvantages of trading with BlackBull Markets

  • When compared to other brokers, a $200 initial deposit seems excessive.

(Risk Warning: Your capital can be at risk)

3. Pepperstone

The official website of the Forex Broker Pepperstone

The Australian firm Pepperstone went into business for the first time in the year 2010. In 2015, they expanded their business to encompass a number of sites located around London in order to provide improved support to European merchants.

Both the Australian Securities and Investments Commission and the Financial Conduct Authority keep a close eye on Pepperstone to ensure that it is acting according to the laws and guidelines specific to each of its jurisdictions.

Pepperstone only allows users to utilize a single live account. The broker doesn’t have an initial deposit requirement. The brokerage also does not charge a fee for withdrawals, nor does it levy an inactivity fee for accounts that have been inactive for a period of time. You may utilize the risk-free demo account if you feel like practicing first before opening a live trading account.

How to open a free demo account with Pepperstone

You are free to use whatever device you like while accessing the trading website. Those users who do not prefer to download the application on their workstations can use the web-based platform instead.

Real-time chat and phone calls are the only two modes of communication that are available to customers around the clock when they need to get in touch with the company’s customer service department.

RoboForex Logo

Summary:

  • There is a $0 minimum payment requirement.
  • Both the ASIC and the FCA license the broker.
  • $3 is the commission fee charged by the broker.
  • The spread is initially set at 0.0 pip.
  • The broker accepts Union Pay, Neteller, Skrill, Bpay, Poli, PayPal, bank transfer credit cards, and debit cards.

Disadvantages of Trading with Pepperstone

  • The customer support feature is only accessible 24/5.

(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

What are the financial regulations in South Sudan?

The Bank of South Sudan, or BSS, is responsible for regulating forex brokers and permitting them to offer their services in this country. So long as the film follows the implemented rules by the BSS, it will be permitted to operate in South Sudan.

Bank of South Sudan logo

Security for traders from South Sudan

It would be best if you exercise extreme caution when picking a broker to work with in terms of the safety of your money and your personal information. There are many fake websites out there, and their main goal is to get you to give them a significant amount of money.

For you to have confidence in the broker you are working with, they must be monitored and regulated by respected institutions. Also, read the terms and conditions to see if they provide any insurance or other protection to save you from incurring unwarranted damages.

Is it legal to trade Forex in South Sudan?

Flag of South Sudan

Trading or dealing with foreign exchange is completely legal in South Sudan.

How to trade Forex in South Sudan – Tutorial

1. Open an account for South Sudan traders

Opening a trading account with Pepperstone

To get started with creating an account, all that is needed of you is to fill out the application form and provide your broker with the information they want. After that, they will be able to get to work on setting up your account. The majority of the time, the form will request your complete name, the city and state in which you now live, your cellular phone number, and a few other pieces of information.

Other brokers ask that you provide a copy of any government-issued identification in order for them to validate your account. To complete setting up your real account, they will either email you a verification code or call you on your cell phone. Both of these methods are optional.

2. Start with a demo account or real account

pepperstone demo account

It is highly advised that you use the free demo account to get to know the interface of the foreign exchange market prior to depositing any of your own money in the market. Customers of each of the mentioned businesses are offered free demo trading accounts to facilitate their trading needs.

Utilize everything at your disposal to your advantage. Demo accounts are given with fictional money that is used to practice trading or assess the operation of the trading platform that is made available by the broker. Demo accounts are available to prospective traders.

3. Deposit money

pepperstone deposit

After you test out the features of the demo account at no cost to you, you will be asked to make a live account and fund it with real money.

The vast majority of brokers will take bank transfers, debit cards, and credit cards as forms of payment. E-wallets like PayPal, Neteller, and Skrill are among the additional payment methods that may be used by this company.

Notice:

The payment methods depend on your country of residence. Forex Brokers offer all kinds of methods separately for each country.

4. Use analysis and strategies

Technical analysis and charting

When it comes to trading, one of the most effective tactics is to trade in the same direction as the prevailing market trend. This kind of trading is done with an eye on the long term. Therefore one of the essential aspects is keeping track of the trend that is building for a specific currency pair and the general direction that the market is heading. This includes engaging in transactional buying when the market is exhibiting a positive trend and engaging in transactional selling when the market is exhibiting a negative trend.

In addition, the analysis of the market is an extremely important part of the approach to risk management. Suppose you are new to the world of foreign exchange trading. In that case, your broker will probably provide you with the help of a staff person who is totally committed to assisting customers who are in your position.

5. Make a profit

Be patient and take the time to learn how to trade effectively. When trading forex pairs, you’ll have an easier time turning a profit. Don’t forget to study risk management in order to boost the probability of turning a profit when trading forex.

Conclusion: The best Forex Brokers are available in South Sudan

No matter how you look at it, forex trading is very risky. However, there are numerous ways to lessen the risk of losing your investment. Implementing risk management systems and analyzing the market before opening a trade plays a huge role in effective forex trading.

Additionally, partnering with brokers that are regulated is a must-do. The presence of a license issued by a reputable regulatory body ensures that the broker can be fully trusted.

FAQ – The most asked questions about Forex Broker South Sudan:

Are demo accounts available with the forex broker in South Sudan?

Yes, you can avail of the demo accounts facility at the forex broker in South Sudan. Demo accounts allow you to get insights into real-world trading without hedging your money. They help your practice your trading strategies, test them out, and also see the offers provided by the broker. It eliminates the doubt behind trading in foreign exchange.

How is forex trading growing in South Sudan with the help of a forex broker in South Sudan?

South Sudan’s forex market is growing multifold due to various factors. These include digitization, technological advancements, etc. The forest broker South Sudan can now offer support round the clock to their customers. Security mechanisms have improved considerably, and electronic platforms in the area are helping raise their popularity. Further, these platforms are low-cost and offer high transparency, ensuring credibility and a high reputation. 

What are the forex trading strategies to use with the help of a forex broker in South Sudan?

The forex trading strategies to implement with the assistance of a forex broker in South Sudan can be as follows:
1. Scalping
2. Day Trading
3. Swing
4. Position trading
5. Short-term trading
6. Long-term trading

 

Last Updated on October 20, 2023 by Andre Witzel