NAS100 Trading in South Africa (2026): Leverage, Trading Hours & Costs
BY TIOmarkets
|March 3, 2026The Nasdaq 100, commonly referred to as the NAS100, is one of the most traded indices in the world. It tracks 100 of the largest non-financial companies listed on the Nasdaq Stock Exchange, with heavy representation from the technology sector. For South African traders, it offers exposure to global companies like Apple, Microsoft, Nvidia and Amazon, all from a single position, without needing to buy shares directly.
This guide covers how trading the NAS100 works, what to consider, and how TIOmarkets structures the instrument for traders in South Africa.
What Is the NAS100?
The NAS100 is an index that tracks the performance of 100 of the largest non-financial companies listed on the Nasdaq Stock Exchange in the United States. Because it is heavily weighted toward technology, it is widely used as a proxy for the performance of the global tech sector.
The index includes well-known names across technology, consumer discretionary, healthcare and communications. Its composition is reviewed periodically, and weightings shift as company valuations change. This means the index is dynamic rather than static.
When you trade the NAS100 as a CFD, you are not buying shares in any of the underlying companies. Instead, you are speculating on whether the index will rise or fall in value. You can take a long position if you expect it to rise, or a short position if you expect it to fall. CFD trading uses leverage, which means a relatively small deposit can control a larger position, amplifying both potential gains and potential losses.
Why South African Traders Follow the NAS100
The NAS100 attracts attention from South African traders for several reasons. The index is priced in US dollars, which means movements in the USD/ZAR exchange rate can affect the rand-denominated value of profits and losses for traders whose accounts are held in ZAR. This adds a layer of currency exposure to consider alongside the index movement itself.
The NAS100 also tends to be more volatile than broader indices like the S&P 500, which creates both opportunity and risk. Volatility can mean larger price swings in shorter periods, which some traders prefer, but it also means positions can move against you quickly if risk is not managed carefully.
South African trading sessions overlap with the later part of the US pre-market and the full US trading session, depending on whether South Africa is observing daylight saving time. The NAS100 tends to be most active during US market hours, so South African traders following this index often do so in the evening local time.
NAS100 Contract Specifications at TIOmarkets
TIOmarkets lists the Nasdaq 100 under the symbol NAS on MT4 and MT5 (commonly referred to as NAS100).
The spread on NAS is floating and variable. It will tighten under normal market conditions and widen during periods of high volatility, around major economic data releases, or when liquidity is lower outside of peak US trading hours.
One standard lot of NAS equals 10 contracts. The minimum trade volume is 0.01 lots, which equals 0.1 contracts. This relatively small minimum allows traders to size positions with more precision than instruments with larger minimum lot sizes.
Leverage on NAS is available up to 1:100 as listed in the instrument contract specification. Trading conditions, including applicable leverage and margin requirements, vary and traders should confirm applicable conditions before opening an account.
Swap rates for overnight positions are not published on the TIOmarkets NAS instrument page. Traders holding positions overnight should check the applicable swap rates inside the MT4 or MT5 platform before opening a position, as these can add meaningful cost to trades held for multiple sessions.
NAS100 Trading Hours at TIOmarkets
NAS trading hours at TIOmarkets are quoted in MT server time, which runs at UTC+2. The hours are as follows:
Monday through Thursday: 01:00 to 23:15, followed by a short break, then 23:30 to 23:59. Friday: 01:00 to 23:15, followed by 23:30 to 23:55. The instrument is closed on Saturday and Sunday.
The short gap between 23:15 and 23:30 on trading days corresponds to the brief pause around the Nasdaq cash session settlement. During this window, NAS is not available for trading.
For South African traders, MT server time at UTC+2 aligns with South African Standard Time (SAST) when South Africa is not observing any offset. This means the NAS trading day opens at 01:00 SAST and the main activity window during US market hours falls roughly in the South African evening. Traders should check the exact overlap between SAST and MT server time, particularly around periods when daylight saving time adjustments apply in the United States, as these can shift the effective local hours by up to an hour.
Account Types for Trading NAS100
TIOmarkets offers three main live account types, all of which can be used to trade NAS: Standard, Raw, and VIP Black. Each has a different cost structure.
The Standard account carries a minimum spread of 1.1 pips and charges no commission. It requires a minimum deposit of USD 20, or currency equivalent, including ZAR R500. This account is created automatically after registration.
The Raw account carries a minimum spread of 0.0 pips and charges USD 6 commission per round turn lot. The minimum deposit is USD 250, or currency equivalent. Raw and VIP Black accounts are not opened automatically. They can be opened at any time from within the client area under the same user profile.
The VIP Black account carries a minimum spread of 0.3 pips and charges no commission. The minimum deposit is USD 1,000, or currency equivalent.
All three accounts support MT4 and MT5. For index trading, the spread and commission structure of each account will affect the total cost of each trade differently depending on position size, holding period, and how spreads behave during the sessions you trade.
How Costs Work on NAS100 Trades
Trading costs on NAS positions at TIOmarkets come from three potential sources: the spread, commission (on Raw accounts), and overnight swaps for positions held beyond the daily rollover.
The spread is the difference between the bid and ask price at the moment you open or close a trade. Because NAS spreads are variable, the cost at entry will depend on market conditions at the time. Spreads on index CFDs tend to be tighter during peak US trading hours and wider outside of those hours or around major data events.
On Raw accounts, the USD 6 round turn commission applies per standard lot (10 contracts). This scales proportionally with lot size: a 0.1 lot trade (1 contract) would carry a commission of USD 0.60 for the round turn. Commission on Raw accounts covers both the opening and closing of the trade and is charged in full when the trade is opened.
Overnight swap charges apply to positions held past the daily rollover. These vary by direction (long or short) and change over time. Wednesday typically carries a higher swap charge to account for the weekend rollover, though this can vary by instrument. The applicable rates should be checked inside the platform before entering a position you plan to hold overnight.
Rapid market movements can also result in slippage, affecting the actual entry or exit price achieved. This is particularly relevant for NAS100 during volatile sessions.
Depositing and Withdrawing in ZAR
South African traders can fund a TIOmarkets account in ZAR. ZAR deposits are supported by debit and credit card. Bank wire and e-wallet methods are not available for ZAR deposits. The minimum deposit for the Standard account is USD 20, or currency equivalent, confirmed at ZAR R500 for South African traders. Minimum deposits for Raw and VIP Black accounts are USD 250 and USD 1,000 respectively, or currency equivalent.
Withdrawals are processed without a fee for amounts of USD 20 or more, provided the trader has made at least one trade. A USD 25 processing fee may apply in certain circumstances, including if the account has been funded but no trades have been placed.
Traders should note that NAS positions are denominated in USD. If your account base currency is ZAR, your trading results will be converted at the prevailing exchange rate. This means the USDZAR rate introduces an additional layer of currency risk beyond the index movement itself.
Placing a NAS100 Trade on MT4 or MT5
Once your account is funded and your platform is connected, the NAS instrument appears in the Market Watch window under the symbol NAS. You can right-click the symbol to open a chart or place a new order directly.
When placing an order, you select whether to buy (long) or sell (short), set your lot size, and optionally set a stop loss and take profit level. Market execution opens the trade immediately at the best available price. Pending orders allow you to schedule a trade to execute when the price reaches a level you specify.
Orders are executed at the best available market price, which may result in positive or negative slippage during volatile conditions. There is no guarantee of a fill at the requested price on a market execution basis. This is particularly relevant for NAS100, which can move quickly around US economic data releases, Federal Reserve announcements, and earnings reports from major index constituents.
Risk Considerations for NAS100 Trading
The NAS100 is a leveraged product and carries significant risk. Because the index is heavily weighted toward technology stocks, it can be sensitive to interest rate expectations, earnings results from a small number of large constituents, and broader sentiment shifts in global risk appetite. A single major earnings miss or macro surprise can produce sharp intraday moves.
Leverage of up to 1:100 means a 1% move in the index equals a 100% move on the margin portion of the trade, before costs. Traders should size positions in a way that reflects their overall risk tolerance and not commit more capital than they are prepared to lose.
Stop losses do not guarantee protection against slippage in fast-moving markets. Positions can be closed at a price worse than the stop loss level if the market moves through that level without trading at it.
Margin call and stop out levels at TIOmarkets are set at 100% and 30% of used margin respectively across standard account types. Traders should monitor open positions actively and understand how margin works before entering leveraged trades.
Getting Started with NAS100 Trading at TIOmarkets
To begin trading NAS100 with TIOmarkets, you register an account on the TIOmarkets website and complete identity and address verification. Once verified, you can fund your account using one of the available deposit methods and transfer funds to your trading account from the client area. The NAS symbol will then be available in the Market Watch window inside MT4 or MT5.
A demo account is also available if you want to explore how NAS trades work before committing real funds. The demo provides a risk-free environment to familiarise yourself with the platform and how index CFDs behave, though demo conditions may not fully replicate live execution, including slippage and liquidity gaps that can occur around news events.
Pros and Cons of Trading NAS100 with TIOmarkets
Pros: Access to one of the world's most widely followed technology indices as a CFD, available on both MT4 and MT5. Leverage up to 1:100 with a minimum trade size of 0.1 contracts allows flexible position sizing. Multiple account types with different cost structures to suit different trading styles. ZAR deposits supported by debit and credit card.
Cons: Leverage amplifies losses as well as gains, and the NAS100 can move sharply around US market events. Swap costs apply to overnight positions and should be checked before holding trades beyond the daily rollover. ZAR deposits are limited to card methods only. The short daily trading break between 23:15 and 23:30 means positions cannot be opened during that window.
FAQ
Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Never deposit more than you are prepared to lose. Professional client’s losses can exceed their deposit. Please see our risk warning policy and seek independent professional advice if you do not fully understand. This information is not directed or intended for distribution to or use by residents of certain countries/jurisdictions including, but not limited to, USA & Countries included in the OFAC sanction list. The Company holds the right to alter the aforementioned list of countries at its own discretion.
TIOmarkets offers an exclusively execution-only service. The views expressed are for information purposes only. None of the content provided constitutes any form of investment advice. The comments are made available purely for educational and marketing purposes and do NOT constitute advice or investment recommendation (and should not be considered as such) and do not in any way constitute an invitation to acquire any financial instrument or product. TIOmarkets and its affiliates and consultants are not liable for any damages that may be caused by individual comments or statements by TIOmarkets analysis and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his/her investment decisions. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances, or needs. The content has not been prepared in accordance with any legal requirements for financial analysis and must, therefore, be viewed by the reader as marketing information. TIOmarkets prohibits duplication or publication without explicit approval.
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