After we have carried out extensive research into Forex Brokers in South Africa we compiled a list of the top forex brokers that take on new South African clients. With this list we reveal the best forex brokers in South Africa that are regulated and have the most user-friendly platforms and variety of spreads, leverage and minimum deposit amounts.
In this guide, you’ll learn:
- List of best Forex brokers in South Africa
- What is a forex broker?
- Leading MetaTrader 4 & MetaTrader 5 Forex brokers
- Details on South African brokers
- Top 20 Best Forex brokers in South Africa
- Best Forex Broker for beginners
And lots more…
Let’s jump right in…
Best Forex Brokers in South Africa
🔎 𝗕𝗿𝗼𝗸𝗲𝗿 | 📝 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 | 💰 𝗠𝗶𝗻𝗶𝗺𝘂𝗺 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 ($) | 🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 |
---|---|---|---|
🥇 AvaTrade | FSCA / FSA | $100 USD / R1600 ZAR | 👉Click Here |
🥉 FP Markets | CySEC, ASIC | $100 USD / R1600 ZAR | 👉Click Here |
📌 BDSwiss | FSC, FSA | $100 USD / R1600 ZAR | 👉Click Here |
📌 FXTM | FSC / CySEC | $10 USD / R160 ZAR | 👉Click Here |
📌 Axiory | FSC, IFSC, MFSC | $10 USD / R160 ZAR | 👉Click Here |
📌 Pepperstone | FCA and ASIC and AFSL | $10 USD / R160 ZAR | 👉Click Here |
🥈 Exness | CySEC, FSA, FCA, FSC, FSCA | $10 USD / R160 ZAR | 👉Click Here |
📌 XM | FCA | $5 USD / $80 ZAR | 👉Click Here |
🏅 HF Markets (Hotforex) | FSC / CySEC | $5 USD / $80 ZAR | 👉Click Here |
📌FBS | IFCS | $1 USD / R16 ZAR | 👉Click Here |
📌 OctaFX | FSCA | $25 USD / R400 ZAR | 👉Click Here |
📌 OANDA | BVI | $9000 USD / R 144 000 ZAR | 👉Click Here |
📌 Tickmill | FSA / FCA / DFSA / CySEC / Labuan FSA / FSCA | $100 USD / R1600 ZAR | 👉Click Here |
📌CM Trading | FSCA / FSA | $100 USD / R1600 ZAR | 👉Click Here |
📌CMC Markets | BaFin | $0 USD / R0 ZAR | 👉Click Here |
📌Plus500 | FCA | $0 USD / R0 ZAR | 👉Click Here |
📌Trade Nation | SCB / FCA / ASIC / FSA / FSCA | $0 USD / R0 ZAR | 👉Click Here |
📌eToro | CySEC / FCA / ASIC | $10 USD / R160 ZAR | 👉Click Here |
📌IG | FSCA / FCA | $0 USD / R0 ZAR | 👉Click Here |
📌Global GT (FXGT) | FSCA / VFSC /CySEC | $5 USD / R80 ZAR | 👉Click Here |
Definition of Forex Brokers
A foreign exchange broker is a type of financial intermediary that makes it easier for people and organizations to buy and sell currencies on the foreign exchange market. These brokers usually help traders with foreign exchange transactions by providing a range of trading tools, market analysis, and leverage.
20 Best Forex Brokers in South Africa (2024*)
- ✅ Avatrade – Best Overall Forex Broker in South Africa
- ✅ Exness – #1 FSCA Regulated broker in South Africa
- ✅ FP Markets – SA’s fastest-growing forex trading broker
- ✅ HFM (Previously known as Hotforex) – Top ZAR Trading Account for South Africans
- FBS – Best ECN forex broker for intermediate traders in SA
- FXTM – Excellent technical tools for SA traders
- XM – One of the lowest minimum deposit brokers for SA traders
- Pepperstone – Offers more than 1000 financial instruments
- AXIORY – Best Education Broker in South Africa
- BDSWISS – Top Forex Broker for Beginner Traders in SA
- OctaFX – Provides Free education material
- Oanda – Delivers Tight CFD spreads
- Tickmill – Provides built-in economic calendar
- CM Trading – Hundreds of Tradable assets
- CMC Markets – 24/7 Customer Support
- Plus500 – Thousands of CFDs available
- Trade Nation – Works with fixed costs
- eToro – Trades with 3000+ instruments
- IG – Funds go to segregated funds
- GlobalGT (FXGT) – Offer 50% Welcome Bonus
10 Best Forex Brokers for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
AvaTrade
With innovative tools like AvaProtect, AvaTrade has established itself as a leading worldwide brand via its own trading platforms, AvaTrade WebTrader and AvaTradeGO.
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, ISA
Trading Desk
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trading forex options on the go has never been easier than with the AvaOptions app, brought to you by Sentry Derivatives and available exclusively to AvaTrade customers.
As well as more than 1,200 CFDs, AvaTrade provides access to 44 currency options. With AvaSocial, ZuluTrade, and DupliTrade, AvaTrade is the Best in Class for 2024 in social copy trading.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Standard Account |
📱 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
💰 Minimum Deposit | $100 USD / R 1600 ZAR |
🔎 Trading Assets | Forex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
✴️ ZAR-based Account? | No |
📈 Minimum spread | From 0.9 pips EUR/USD |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
AvaTrade is well-regulated in several global regions, including South Africa | AvaTrade’s pricing is far more expensive than other industry leaders |
There is a full selection of instruments and trading platforms | The AvaOptions platform is extremely sluggish |
AvaOptions is powered by Sentry Derivatives | Some financial instruments are on hold |
There is a choice between 1,260 instruments that can be traded | There is a limited selection of research materials and resources |
AvaTrade is suited to beginners and professionals alike |
Exness
To those who open an ECN account with Exness, the spread is almost 0 pips. In South Africa, the Financial Sector Conduct Authority (FSCA) govern Exness, among other recognized bodies.
Traders in South Africa may open an Exness trading account with a South African Rand base currency and make deposits and withdrawals using local Internet banking. When compared to other brokers, Exness’ spread is very minimal.
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The broker does not assess the usual fees associated with inactive accounts. In addition to its free demo account, Exness also provides real money trading. If you establish an account in South African Rand (ZAR), you will not be able to switch to US Dollars (USD) at a later stage.
However, if you want to trade in a currency other than the one associated with your Exness account, you may do so through the Exness client panel.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
📱 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
💰 Minimum Deposit | Depends on payment system |
🔎 Trading Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
📈 Minimum spread | 0.0 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
Exness offers a broad range of forex pairs | There is a limited range of research and education |
There are low commissions charged on forex trades | There are limited markets offered |
Exness offers zero-spread ZAR-denominated accounts | |
There are various trading strategies supported by Exness | |
There are instant withdrawals supported |
FP Markets
FP Markets stands itself as an excellent broker for trading FX and CFDs at a moderate cost. FP Markets provides the MetaTrader platform and commission-based Raw ECN accounts with extremely low spreads.
Over 12,000 different symbols are available for trading using the Iress platform package, which is made available by FP Markets.
Min Deposit
USD 100
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MT4, MT5, cTrader
Crypto
Yes
Total Pairs
70+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
When compared to other brokers, FP Markets is one of the most affordable options for traders throughout the world because of the commission-free ECN account it provides via the MetaTrader platform.
Spreads on the Raw ECN account at FP Markets average under 0.1 pips, making it a competitive alternative among brokers, while the Standard account’s spreads average 1.2 pips, making it a more expensive choice.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | ASIC, CySEC, FSCA, CMA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Standard / Raw |
📱 Trading Platform | MetaTrader 4, MetaTrader 5, WebTrader |
💰 Minimum Deposit | $100 USD/AUD R 1600 ZAR |
🔎 Trading Assets | Forex, Shares, Metals, Commodities, Indices, Bonds, Crypto |
📈 Minimum spread | 0.0 pips EUR/USD |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
FP Markets is a trusted broker with several licenses globally | The mobile app still lacks a few features to put it in the same league as the apps of competitors |
FP Markets is a proud MetaTrader broker that also offers a mobile app | FP Markets is slightly limited in its educational offering |
South Africans can expect competitive trading conditions from FP Markets | While social trading is available through MT4, it lacks more advanced performance metrics |
There is an exceptionally vast selection of markets that can be traded | |
FP Markets offers ECN execution |
HF Markets
The material mix at HFM is well-rounded, with an appropriate amount of original market research, commentary, and news articles from other sources.
HF Markets is a best-in-class, low-cost trading platform and ECN/STP broker. Aside from its own mobile HF App, HF Markets is compatible with MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Min Deposit
USD 0
Regulators
CySEC, FCA, FSA, DFSA, FSCA, CMA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
As a broker, HFM has a solid reputation and follows all applicable rules and regulations. The offering is straightforward and has a wide variety of currency pairs and CFDs to choose from. The prices are reasonable, and there is a helpful teaching centre for novice traders.
More than 500,000 active trading accounts have been established with HFM so far, and the company has received several accolades from the industry and the support of influential sponsors, including the titles of Best Clients Funds Security Broker, Best Forex Provider, Top 100 Companies, etc.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | CySEC, FCA, FSA, DFSA, FSCA, CMA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Cent, Zero, Pro, Medium |
📱 Trading Platform | MetaTrader 4 and MetaTrader 5 |
💰 Minimum Deposit | $0 USD / R0 ZAR |
🔎 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
📈 Minimum spread | 0.0 pips EUR/USD |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
HF Markets requires a low minimum deposit of 70 ZAR | HF Markets supports a limited number of deposit and withdrawal options |
There is a choice between MT4, MT5, and the comprehensive HF App | |
The trading costs are extremely low | |
South Africans can register a ZAR-denominated account | |
HF Markets is well-regulated in several regions, including South Africa |
FBS
The FBS name may be found in more than a hundred different nations throughout the world. Margin foreign exchange (FX) and contracts for difference (CFDs) are offered by a group of separate businesses under the FBS brand name, which is dedicated to its customers.
With a long history of service, competitive spreads, and a comprehensive education centre, FBS is a solid option for traders.
Min Deposit
USD 1
Regulators
IFSC, FSCA, ASIC, CySEC
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
250
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
FBS is a reputable worldwide broker that offers a broad variety of trading options, including a crypto-only account, a standard account with no commissions, trading on over a hundred different cryptocurrency pairings, and a straightforward mobile trading platform.
Despite having a valid FSCA license, South African citizens who engage in commerce with FBS’s Belizean subsidiary are not afforded the same level of legal protection as those who deal directly with FBS in South Africa.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | IFSC, CySEC, ASIC, FSCA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Standard Account |
📱 Trading Platform | FBS Trader, MetaTrader 4, MetaTrader 5 |
💰 Minimum Deposit | $5 USD / R80 ZAR |
🔎 Trading Assets | Forex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, Cryptocurrencies |
📈 Minimum spread | 0.7 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
FBS offers a decent selection of trading accounts | South Africans are not given any negative balance protection |
FBS is known for its education and market analysis | There is an extremely limited range of assets offered |
FBS offers the perfect integration with MT4 and MT5 | |
There is a dedicated crypto trading account offered on the FBS app | |
There is a range of promotions and bonuses offered to traders |
FXTM
FXTM is a forex and CFD trading platform that can be accessed online. FXTM is a well-regarded trading platform that also includes social trading capabilities.
Min Deposit
USD 10
Regulators
FCA, CySEC
Trading Desk
MT4, MT5
Crypto
No
Total Pairs
63+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FXTM provides an exceptionally regulated platform and high-quality services overall. Since its inception in 2011, FXTM has been in a prime position to observe and learn from Alpari’s blunders. FXTM is backed by a reputable name, extensive asset options, and stringent regulations.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FCA, CySEC |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
📱 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
💰 Minimum Deposit | $10 USD / R 160 ZAR |
🔎 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets |
📈 Minimum spread | 0.0 pips EUR/USD |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
FXTM is a beginner-friendly broker | There are some concerns about whether FXTM’s copy trading system can compare to the comprehensive offering of other brokers |
There is a range of market research tools offered | |
FXTM offers a range of accounts to South Africans | |
FXTM has a long-standing reputation in the industry | |
South Africans can choose between powerful trading software |
XM
Since its inception in 2009, XM has amassed a clientele from more than 196 different countries and a support team fluent in 30 different tongues. XM Group is a MetaTrader-exclusive broker with a wealth of informative videos, podcasts, and articles available frequently.
Min Deposit
USD 5
Regulators
FSA
Trading Desk
MT4, MT5, XM App
Crypto
Yes
Total Pairs
55
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
As an added educational resource, XM provides a wide variety of webinars, publications, and Tradepedia courses. XM is a highly regulated broker with a stellar reputation.
XM boasts one of the industry’s lowest deposit requirements, minimal CFD expenses, and platforms that are welcoming to traders of all experience levels.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FSC |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
📱 Trading Platform | MetaTrader 4, MetaTrader 5, XM Mobile App |
💰 Minimum Deposit | $5 USD / R80 ZAR |
🔎 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares, |
📈 Minimum spread | 0.6 pips EUR/USD |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
XM has a large customer base, further proving its popularity | There are inactivity fees applied |
XM guarantees client fund safety | XM does not offer Fixed spreads |
There are several industry awards that XM has won | |
XM offers commission-free deposits and withdrawals | |
XM is one of the best low-cost brokers for South Africans |
Pepperstone
One of the most well-known CFD and FX brokers in the world, Pepperstone offers outstanding customer support, aggressive trading terms, and a transparent trading environment with guaranteed client money security.
Min Deposit
USD 10
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
1000+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
In addition to having strong liquidity, quick trade execution, and exceptionally low spreads starting at 0.0 pips EUR/USD, Pepperstone Markets is also well-regulated.
Additionally, Pepperstone makes use of some of the most innovative trading technologies to meet the demands and goals of all its customers.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Standard Account, Razor Account |
📱 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
💰 Minimum Deposit | $0 USD / R0 ZAR |
🔎 Trading Assets | Forex, Cryptocurrencies, Shares, ETFs, Indices, Commodities, Currency Indices, |
📈 Minimum spread | Raw / Variable |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
Pepperstone welcomes traders despite their trading skills or experience | Leverage restrictions may apply to some regions |
There are several educational materials offered by Exness | Islamic accounts attract additional fees |
South African traders can expect safety of funds and competitive trading conditions | There is no ZAR-denominated account for South African traders |
There is a choice between MetaTrader and cTrader | |
Pepperstone does not charge any deposit or withdrawal fees |
Axiory
Axiory is a global foreign exchange (FX) and CFD broker that supports both the MetaTrader 4 and cTrader trading platforms. 2021 saw the debut of Axiory’s new social trading platform.
Min Deposit
USD 10
Regulators
MFSC, IFSC, FCA
Trading Desk
MT4, MT5, cTrader, CopyTrade
Crypto
No
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Users with a Max account may use the free mobile app to mirror the trades of Master Traders. Axiory’s floating forex spreads are among the lowest of any major broker.
Leverage on Axiory can go as high as 1:777 on the MAX account, 1:400 on the Nano account, and 1:1 on the Standard account. Axi’s website has a user-friendly margin calculator to help traders with leverage.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | MFSC, IFSC, FCA |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Nano Account, Standard Account, Max Account, Tera Account, Alpha Account |
📱 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader |
💰 Minimum Deposit | $10 USD / R160 ZAR |
🔎 Trading Assets | Forex, Gold and Precious Metals, Oil and Energies, CFD Indices, CFD Stocks, Exchange Stocks. Exchange ETFs |
📈 Minimum spread | 0.13 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
Axiory has Tier-1 regulation, among others | There is no ZAR account |
There is a proprietary CopyTrade service and platform | There is no crypto trading |
There are demo accounts offered | There are holding commissions that apply to the Islamic Account option |
Axiory has a low barrier of entry | |
There are several trading tools included in Axiory’s offer |
BDSwiss
BDSwiss accepts South African customers and offers an average spread of 0.3 pips and commission rates beginning at 0.15 percent. BDSwiss offers a maximum leverage ratio of 1:1000, along with a demo and Islamic accounts.
The platforms MT4, MT5, and BDSwiss are supported. BDSwiss is based in Seychelles and is governed by CySEC, FSC, BaFIN, and FSA. BDSwiss is a global online trading broker with millions of clients.
Min Deposit
USD 10
Regulators
FSC, FSA,FSCA, MISA
Trading Desk
MT4, MT5, BDSwiss Mobile app, BDSwiss WebTrader
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
They were established in 2012 in Zurich, Switzerland, and have grown to become one of Europe’s largest online trading-focused financial institutions, offering 250+ Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, and CFDs.
BDSwiss takes considerable pride in offering the most advantageous trading conditions, including innovative trading platforms and exceptional customer support.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FSC, FSA,FSCA, MISA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Cent, Classic, VIP, Zero |
📱 Trading Platform | MetaTrader 4, MetaTrader 5 |
💰 Minimum Deposit | $10 USD / R160 ZAR |
🔎 Trading Assets | Forex, Crypto, Indices, Shares, Commodities |
📈 Minimum spread | 0.3 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
BDSwiss has over 250 instruments that can be traded | Inactivity fees apply to all dormant accounts |
BDSwiss offers free VPS to eligible clients | South Africans are subject to currency conversion fees if they deposit/withdraw in ZAR |
South Africans can expect commission-free trading | |
BDSwiss offers tailormade accounts | |
There is a transparent fee schedule that is updated frequently |
OctaFX
OctaFX is a reputable supplier of CFD and forex trading that has been in business since 2011. OctaFX is renowned for its trustworthy transaction execution in addition to its STP and ECN execution methodologies.
Min Deposit
USD 5
Regulators
SVGFSA
Trading Desk
MT4, MT5, OctaTrader
Crypto
Yes
Total Pairs
80+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Offering a variety of retail investor accounts, OctaFX caters significantly to both novice and experienced traders in South Africa.
OctaFX has two accounts for regular investors, both of which permit trading positions as little as 0.01 lots. In addition, OctaFX provides low spreads and a variety of trading techniques for South African traders.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | SVGFSA |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Intuitive and Versatile / Technically Advanced / Simple and Popular |
📱 Trading Platform | MetaTrader 4, MetaTrader 5, OctaTrader |
💰 Minimum Deposit | $100 USD / R1600 ZAR |
🔎 Trading Assets | Forex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies. |
📈 Minimum spread | 0.6 pips EUR/USD |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
South Africans can expect some of the most innovative trading technology | There is a limited choice between tradable instruments |
There are a few funding options to choose from | OctaFX only offers two accounts, and neither is ZAR-denominated |
There are commission-free accounts offered | |
OctaFX offers negative balance protection on retail accounts | |
South Africans can use any given trading strategies |
OANDA
OANDA is a well-known broker and trading platform that was founded in 1996 by a group of expert traders.
The fact that OANDA is well-regulated by organizations like IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, and BVI FSC gives South Africans comfort that they are working with a respectable organization.
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
MT4
Crypto
No
Total Pairs
71
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
One of the finest advantages of OANDA is the availability of an Islamic Swap-Free account, which provides Muslim South African traders with exceptional trading conditions and benefits.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Standard Account, Core Account, Swap-Free Account, premium, premium core |
📱 Trading Platform | MetaTrader 4, MetaTrader 5 , FXPlatform, |
💰 Minimum Deposit | $0 USD / R0 ZAR |
🔎 Trading Assets | Index CFDs, Forex, Metals, Commodity CFDs, Bonds CFDs, Precious Metals, Real-time Rates |
📈 Minimum spread | 0.1 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
OANDA’s platform has won several awards | Inactivity fees apply |
Muslim traders have a dedicated trading account | |
OANDA offers negative balance protection | |
South Africans are not subject to deposit fees | |
OANDA offers a decent range of educational materials |
Tickmill
Tickmill is widely recognized as one of the top CFD brokers for South African traders, offering a secure and transparent trading environment. To provide its services in the area, Tickmill is governed by FSCA and other respected market regulators.
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Tickmill provides South African traders with a variety of financial markets and trading options by offering CFDs on currency, equities, commodities, and indices.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | CySEC, FCA, FSA, FSCA, Labuan FSA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Pro Account, Classic Account, VIP Account |
📱 Trading Platform | MetaTrader 4, MetaTrader 5 |
💰 Minimum Deposit | $100 USD / R1600 ZAR |
🔎 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
📈 Minimum spread | 0.0 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
Tickmill is one of the most trusted brokers in South Africa | There is no ZAR-denominated account |
There is an Islamic account offered to Muslim traders | |
FIX API is given to eligible traders | |
There are several commission-free options offered | |
Tickmill offers MetaTrader 4 and MetaTrader 5 |
CM Trading
CM Trading is the brand name of Blackstone Marketing SA(PTY)LTD, one of the most creative fx brokers in the world and the biggest broker in South Africa.
In addition to its primary focus on the African continent, the firm provides a vast array of innovative trade solutions to an international and worldwide clientele.
Min Deposit
USD 100
Regulators
FSA
Trading Desk
MT4
Crypto
Yes
Total Pairs
51+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
With CM Trading you can access the market quickly and easily from your PC, online browser, and mobile device. If you are a beginner and new to online trading, you will discover a variety of helpful instructional resources.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FSCA / FCA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Bronze, Silver, Gold, Premium |
📱 Trading Platform | MetaTrader 4 |
💰 Minimum Deposit | $100 USD / R1600 ZAR |
🔎 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
📈 Minimum spread | 1.9 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌𝗖𝗼𝗻𝘀 |
---|---|
CM Trading has a decent range of tradable instruments in several markets | There are no fixed spreads offered |
The platform is user-friendly | AutoChartist and Trading Central are not offered |
There is an excellent choice between account types | |
CM Trading offers CopyKat trading | |
There is no restriction on strategies used in trading activities |
CMC Markets
CMC Markets is a broker that provides access to over 10,000 financial products on advanced, flexible, and user-friendly trading platforms. CMC Markets was founded in 1989 and is a publicly-traded company with a ticker symbol of “CMCX” on the London Stock Exchange (LSE).
Min Deposit
USD 10
Regulators
FCA, IIROC, ASIC, FMA, MAS
Trading Desk
MT4
Crypto
Yes
Total Pairs
158
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
CMC Markets says that it is the exclusive venue for the execution of all customer orders. Additionally, CMC Markets certifies that it does not manage an order book in which customer orders might supply or absorb liquidity.
CMC Markets confirms that all client orders are completed at the best prices and fastest times possible.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FCA, IIROC, ASIC, FMA, MAS |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Standard account |
📱 Trading Platform | MetaTrader 4 |
💰 Minimum Deposit | $10 USD / R160 ZAR |
🔎 Trading Assets | Forex, Indices, Crypto, Treasuries, Share Baskets, Individual Shares, Commodities |
📈 Minimum spread | 0.7 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | No |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
CMC Markets is a well-regulated broker with oversight from a few Tier-1 regulatory entities | The spreads are marked-up |
CMC Markets is an FSCS member | There is no FIX API |
South Africans can gain access to Next Gen and MetaTrader 4 | |
There are several innovative tools such as Module Linking and Pattern Recognition | |
The trading conditions offered are extremely competitive |
Plus500
Plus500 is an online trading broker that is authorized in many jurisdictions and provides access to over 2,000 CFD products through proprietary trading platforms.
Plus500 places a premium on innovation, being among the first to introduce new trading products to satisfy consumer needs.
Min Deposit
USD 100
Regulators
CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Trading Desk
WebTrader
Crypto
Yes
Total Pairs
71
Islamic Account
On Request
Trading Fees
Low
Account Activation
24 Hours
Plus500 utilizes the newest innovative trading technology to give customers free real-time quotations, narrow spreads, and commission-free trading.
Plus500 imposes maximum leverage of 1:30 for EU/UK traders and ensures quick and reliable order execution along with customizable platforms, and worldwide customer service available 24 hours a day, seven days a week.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Standard Account |
📱 Trading Platform | Plus500 desktop platform and mobile app |
💰 Minimum Deposit | $2670 USD / R 47500 ZAR |
🔎 Trading Assets | Cryptocurrencies, ETFs, Indices, Forex, Options, Shares, Commodities |
📈 Minimum spread | 0.6 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | No |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
Plus500 is known for its competitive commission-free trading | Plus500 charges inactivity fees |
There are zero fees on deposits or withdrawals | MetaTrader is not supported |
South Africans have access to trading guides to help them on their trading journey | There are no fixed spread accounts and the mark-up on spreads is high |
There is a comprehensive market analysis offered | |
South Africans can contact Plus500 24/7 |
Trade Nation
Trade Nation, a broker subject to many regulatory bodies, provides a novel method for trading online. Trade Nation, based in the United Kingdom, is an online retail broker that offers trading on both its own proprietary platform and the widely used MetaTrader 4 platform.
Min Deposit
USD 0
Regulators
FCA, ASIC, FSCA, SCB
Trading Desk
MT4, Cloudtrade
Crypto
Yes
Total Pairs
33
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trade Nation does not need a minimum deposit, so long as you have enough money to pay the margin on your trades. As one of the few companies in the world that allows its clients to trade with fixed spreads, they take this distinction extremely seriously.
With this broker, you could take advantage of many payment options, round-the-clock assistance from knowledgeable agents, and spread rebates if you make enough trades.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FCA, ASIC, FSCA, SCB |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Standard Account |
📱 Trading Platform | Trade Nation, MetaTrader 4 |
💰 Minimum Deposit | $0 USD / R0 ZAR |
🔎 Trading Assets | Forex, Indices, Differentials, Energies, Precious Metals, Bonds, Share CFDs, Futures |
📈 Minimum spread | 0.4 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | No |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
Trade Nation is well-regulated and offers a safe trading environment for beginners and professional traders | Crypto trading is currently not offered |
There are zero deposit or withdrawal fees | There is no option to convert a trading account to an Islamic account |
Trade Nation does not have a set minimum deposit requirement | There are no managed accounts offered |
South Africans can expect tight fixed spreads and no hidden fees | There are limited market analysis tools |
South Africans can get a 25% spread rebate according to their trading volume |
eToro
It is safe to say that eToro is among the most well-known social trading platforms out there. If you are a trader in South Africa interested in trying out social trading with a reputable, industry-leading platform, eToro is your best bet.
More than 2,400 stocks and 250 ETFs (exchange-traded funds) from 17 global marketplaces are available with eToro.
Min Deposit
USD 1000
Regulators
CySec, FCA
Trading Desk
Proprietary WebTrader
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The platform offers these features in addition to digital currencies, commodities, fiat money, and other financial products. eToro claims that all its markets include a social element.
The Copy Trading tool is eToro’s most talked about and distinctive social feature. You may now copy the trades of a successful eToro trader exactly.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | CySEC, FCA |
⚖️ FSCA Regulation? | No |
📊 Trading Accounts | Retail Account, Professional Account |
📱 Trading Platform | eToro proprietary trading app and web platform |
💰 Minimum Deposit | $1000 USD / R 16 000 ZAR |
🔎 Trading Assets | Forex Pairs, Commodities, Exchange-traded funds (ETFs), Indices, Crypto Assets, Stocks |
📈 Minimum spread | 1 pip EUR/USD |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
eToro is a user-friendly solution even for beginners | eToro is not suitable for advanced traders who want to perform their own technical analysis |
There are no commission charges on any trades through eToro | Limited trading platforms offered |
There is a range of markets offered by eToro | |
South Africans can gain access to the best social trading opportunities | |
There are competitive spreads offered |
IG
IG, which opened for business in 1974 and was one of the earliest trading brokerages, has since become a global leader in the sector.
IG is a multi-award winning, industry-leading online broker and investment provider that connects traders with possibilities in hundreds of different financial markets via user-friendly trading platforms and mobile applications.
Min Deposit
USD 0
Regulators
FSCA
Trading Desk
MT4
Crypto
Yes
Total Pairs
80+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
If security is your priority, and you want access to the widest range of trading tools and resources, go no further than IG.
Both the quality of their customer service and the innovative nature of the trading tools they make available have earned them several accolades from the brokerage sector.
Overview
𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 | 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 |
---|---|
⚖️ Regulation | FSCA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | CFD Trading account / Corporate account / Retail account |
📱 Trading Platform | MT4, Online trading platform,mobile & progressive app |
💰 Minimum Deposit | $0 USD , R0 ZAR |
🔎 Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options |
📈 Minimum spread | 0.1 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | Yes |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ 𝗣𝗿𝗼𝘀 | ❌ 𝗖𝗼𝗻𝘀 |
---|---|
IG offers over 19,000 tradable instruments across several platforms | The minimum deposit is extremely high |
There are a plethora of trading tools and educational materials offered through IG | There are inactivity fees charged |
South Africans can choose between several convenient deposit and withdrawal options | There could be some restrictions on leverage |
South Africans get free trading signals | |
There are competitive trading conditions offered through tailormade trading accounts according to country and region |
Global GT (FXGT)
Global GT is a broker that opens you access to a wide variety of global financial markets. MetaTrader 5, a robust trading platform with several features for in-depth market research to aid in decision-making, is used to execute trades.
Min Deposit
USD 5
Regulators
FSA, FSCA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The broker uses either a straight-through-processing (STP) or a no-dealing-desk (NDD) approach to execute trades in the market. This ensures that your orders are sent to the finest liquidity providers and are executed at the best possible bid and ask prices.
Overview
Feature | Information |
---|---|
⚖️ Regulation | FSCA, FSA |
⚖️ FSCA Regulation? | Yes |
📊 Trading Accounts | Pro, ECN, Mini, Standard |
📱 Trading Platform | MetaTrader 5, MetaTrader 4 |
💰 Minimum Deposit | $5 USD / R80 ZAR |
🔎 Trading Assets | Forex, Cryptocurrencies, Synthetic Cryptocurrencies, Precious Metals, Energies, Equity Indices, GTi12, Stocks, DeFi Tokens, NFTs |
📈 Minimum spread | From 0.0 pips |
🔎 Demo Account | Yes |
☪️ Islamic Account | No |
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 | 👉Click Here |
Pros and Cons
✔️ Pros | ❌ Cons |
---|---|
South Africans have a decent choice between different deposit and withdrawal options | There are inactivity fees applied when a trading account becomes dormant |
There is a low minimum deposit of 85 ZAR to register an account | MetaTrader 4 is not offered |
Global GT is an advanced hybrid broker | There is a limited selection of research and education offered |
There is a decent selection of educational materials offered | |
There are low transaction fees charged |
Best MetaTrader 4 / MT4 Forex Broker in South Africa
☑️ Overall, FxPro is the best MT4 forex broker in South Africa. In addition to being a premier MetaTrader broker, FxPro provides a variety of account types and trading execution options.
☑️ FxPro offers access to over 400 CFDs as well as a collection of instructional materials and analysis tools.
Best MetaTrader 5 / MT5 Forex Broker
☑️ Overall, BDSwiss is the best MetaTrader 5 forex broker in South Africa. When trading several asset classes on the MT5 platform supplied by BDSwiss, trading techniques are not confined.
☑️ BDSwiss’ broad collection of MT5 trading tools, as well as its industry-leading research and education programs, may assist traders of all skill levels.
Best Forex Broker for beginners
☑️AvaTrade is the best forex broker for beginners in South Africa. AvaTrade provides over 1,260 financial products and the prestigious AvaTradeGO mobile application.
☑️ AvaTradeGO provides traders with some of the most effective teaching resources and research tools for navigating competitive markets.
Conclusion
Overall, Forex trading in South Africa is a popular activity and more international brokers are opening offices in the country, providing South African forex traders with a larger selection of forex trading partners. While traders must choose a broker according to their needs, it is important to choose one that is well-regulated by the FSCA and that has a good reputation.
10 Best Forex Brokers for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Disclaimer
Forex and CFDs are complex instruments, and trading these instruments come with a high-risk warning. Trading forex and CFDs involves a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.
Forex Trading Africa annually reviews brokers and financial instruments and provides information to help traders and investors make better decisions when trading on global markets. The information is published to help improve your knowledge and understanding of international multi-asset trading and market participants.
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Frequently Asked Questions
Which brokers are legal in South Africa?
There are several brokers licensed by the FSCA in South Africa including Plus500, HF Markets, Tickmill, Exness, AvaTrade, IG, and more.
Can I trade Forex with R100 ZAR?
While you could register a live trading account with 100 ZAR and less, most brokers recommend that you deposit 2,000 ZAR and more to cover margin requirements at the start of your trade.
How do I join Forex in South Africa?
You can start trading forex by consulting the range of educational material there is to gain more understanding of the subject. Next, you can research brokers in South Africa to find one that fits your trading needs and objectives.
Lastly, when you have selected a broker, you can register an account, deposit funds, download the trading platform, and start trading.
How much do Forex traders make a month?
According to statistics, the median income for a professional forex trader can be 45,000 ZAR and more.
Do Forex traders pay tax in SA?
Yes, there is a 28% taxable income rate that applies to forex trading.