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My external IP is hop 2, dont want that out there at the moment
The high pings were me a moment ago doing a speedtest.net during the upload test.
Nope, second hop isn't your external IP address. Those IP addresses are allocated on the Telkom network to the various exchanges to route over the ISP network. It's Telkom's network, our IP addresses, but not your external IP at all.
Also, running a speedtest won't result in massive latency increases on hop 2, unless the exchange/network card/port has problems. If running a speedtest results in massive latency increases, it means the exchange/card can't handle your throughput at that time properly. So your few Mbps is pushing the network card over its available capacity at the time.
i.e. congested.