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20 Best Forex Brokers in South Africa

Best Forex Brokers in South Africa

 

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
🥇 AvaTradeFSCA / FSA$100 USD / R1600 ZAR👉Click Here
🥉 FP MarketsCySEC, ASIC$100 USD / R1600 ZAR👉Click Here
📌 BDSwissFSC, FSA$100 USD / R1600 ZAR👉Click Here
📌 FXTMFSC / CySEC$10 USD / R160 ZAR👉Click Here
📌 AxioryFSC, IFSC, MFSC$10 USD / R160 ZAR👉Click Here
📌 PepperstoneFCA and ASIC and AFSL$10 USD / R160 ZAR👉Click Here
🥈 ExnessCySEC, FSA, FCA, FSC, FSCA$10 USD / R160 ZAR👉Click Here
📌 XMFCA$5 USD / $80 ZAR👉Click Here
🏅 HF Markets (Hotforex)FSC / CySEC$5 USD / $80 ZAR👉Click Here
📌FBSIFCS$1 USD / R16 ZAR👉Click Here
📌 OctaFXFSCA$25 USD / R400 ZAR👉Click Here
📌 OANDABVI$9000 USD / R 144 000 ZAR👉Click Here
📌 TickmillFSA / FCA / DFSA / CySEC / Labuan FSA / FSCA$100 USD / R1600 ZAR👉Click Here
📌CM TradingFSCA / FSA$100 USD / R1600 ZAR👉Click Here
📌CMC MarketsBaFin$0 USD / R0 ZAR👉Click Here
📌Plus500FCA$0 USD / R0 ZAR👉Click Here
📌Trade NationSCB / FCA / ASIC / FSA / FSCA$0 USD / R0 ZAR👉Click Here
📌eToroCySEC / FCA / ASIC$10 USD / R160 ZAR👉Click Here
📌IGFSCA / 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*)

 

  1. Avatrade – Best Overall Forex Broker  in South Africa
  2. Exness – #1 FSCA Regulated broker in South Africa
  3. FP Markets – SA’s fastest-growing forex trading broker
  4. HFM (Previously known as Hotforex) – Top ZAR Trading Account for South Africans
  5. FBS – Best ECN forex broker for intermediate traders in SA
  6. FXTM – Excellent technical tools for SA traders
  7. XM – One of the lowest minimum deposit brokers for SA traders
  8. Pepperstone – Offers more than 1000 financial instruments
  9. AXIORY – Best Education Broker in South Africa
  10. BDSWISS – Top Forex Broker for Beginner Traders in SA
  11. OctaFX –  Provides Free education material
  12. Oanda – Delivers Tight CFD spreads
  13. Tickmill – Provides built-in economic calendar
  14. CM Trading – Hundreds of Tradable assets
  15. CMC Markets – 24/7 Customer Support
  16. Plus500 – Thousands of CFDs available
  17. Trade Nation – Works with fixed costs
  18. eToro – Trades with 3000+ instruments
  19. IG – Funds go to segregated funds
  20. GlobalGT (FXGT) – Offer 50% Welcome Bonus

 

10 Best Forex Brokers for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

AvaTrade-Islamic

4.8/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

Tickmill Review

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.7/5

User Score

#10

4.7/5

User Score

 

AvaTrade

 

AvaTrade Review

 

With innovative tools like AvaProtect, AvaTrade has established itself as a leading worldwide brand via its own trading platforms, AvaTrade WebTrader and AvaTradeGO.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsStandard Account
📱 Trading PlatformAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💰 Minimum Deposit$100 USD / R 1600 ZAR
🔎 Trading AssetsForex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals
✴️ ZAR-based Account?No
📈 Minimum spreadFrom 0.9 pips EUR/USD
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
AvaTrade is well-regulated in several global regions, including South AfricaAvaTrade’s pricing is far more expensive than other industry leaders
There is a full selection of instruments and trading platformsThe AvaOptions platform is extremely sluggish
AvaOptions is powered by Sentry DerivativesSome financial instruments are on hold
There is a choice between 1,260 instruments that can be tradedThere is a limited selection of research materials and resources
AvaTrade is suited to beginners and professionals alike

 

AvaTrade Review

 

 

Exness

 

Exness Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum DepositDepends on payment system
🔎 Trading AssetsForex, Metals, Crypto, Energies, Indices, Stocks
📈 Minimum spread0.0 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
Exness offers a broad range of forex pairsThere is a limited range of research and education
There are low commissions charged on forex tradesThere are limited markets offered
Exness offers zero-spread ZAR-denominated accounts
There are various trading strategies supported by Exness
There are instant withdrawals supported

 

Exness Review

 

FP Markets

 

FP Markets Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationASIC, CySEC, FSCA, CMA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsStandard / Raw
📱 Trading PlatformMetaTrader 4, MetaTrader 5, WebTrader
💰 Minimum Deposit$100 USD/AUD
R 1600 ZAR
🔎 Trading AssetsForex, Shares, Metals, Commodities, Indices, Bonds, Crypto
📈 Minimum spread0.0 pips EUR/USD
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
FP Markets is a trusted broker with several licenses globallyThe 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 appFP Markets is slightly limited in its educational offering
South Africans can expect competitive trading conditions from FP MarketsWhile 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

 

FP Markets Review

 

HF Markets

 

HF Markets Review (Formally HotForex)

 

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).

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationCySEC, FCA, FSA, DFSA, FSCA, CMA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsCent, Zero, Pro, Medium
📱 Trading PlatformMetaTrader 4 and MetaTrader 5
💰 Minimum Deposit$0 USD / R0 ZAR
🔎 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
📈 Minimum spread0.0 pips EUR/USD
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
HF Markets requires a low minimum deposit of 70 ZARHF 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

 

HF Markets Review

 

FBS

 

FBS Review

 

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationIFSC, CySEC, ASIC, FSCA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsStandard Account
📱 Trading PlatformFBS Trader, MetaTrader 4, MetaTrader 5
💰 Minimum Deposit$5 USD / R80 ZAR
🔎 Trading AssetsForex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, Cryptocurrencies
📈 Minimum spread0.7 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
FBS offers a decent selection of trading accountsSouth Africans are not given any negative balance protection
FBS is known for its education and market analysisThere 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

 

Forex Brokers in South Africa - FBS review

 

FXTM

 

FXTM review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFCA, CySEC
⚖️ FSCA Regulation?No
📊 Trading AccountsMicro Account, Advantage Account, Advantage Plus Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, FXTM Trader
💰 Minimum Deposit$10 USD / R 160 ZAR
🔎 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets
📈 Minimum spread0.0 pips EUR/USD
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
FXTM is a beginner-friendly brokerThere 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

 

FXTM review

 

XM

 

XM Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFSC
⚖️ FSCA Regulation?No
📊 Trading AccountsMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, XM Mobile App
💰 Minimum Deposit$5 USD / R80 ZAR
🔎 Trading AssetsForex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares,
📈 Minimum spread0.6 pips EUR/USD
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
XM has a large customer base, further proving its popularityThere are inactivity fees applied
XM guarantees client fund safetyXM 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

 

XM Review

 

Pepperstone

 

Pepperstone Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
⚖️ FSCA Regulation?No
📊 Trading AccountsStandard Account, Razor Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, cTrader, TradingView
💰 Minimum Deposit$0 USD / R0 ZAR
🔎 Trading AssetsForex, Cryptocurrencies, Shares, ETFs, Indices, Commodities, Currency Indices,
📈 Minimum spreadRaw / Variable
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
Pepperstone welcomes traders despite their trading skills or experienceLeverage restrictions may apply to some regions
There are several educational materials offered by ExnessIslamic accounts attract additional fees
South African traders can expect safety of funds and competitive trading conditionsThere 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

 

Pepperstone Review

 

Axiory

 

Axiory Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationMFSC, IFSC, FCA
⚖️ FSCA Regulation?No
📊 Trading AccountsNano Account, Standard Account, Max Account, Tera Account, Alpha Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, cTrader
💰 Minimum Deposit$10 USD / R160 ZAR
🔎 Trading AssetsForex, Gold and Precious Metals, Oil and Energies, CFD Indices, CFD Stocks, Exchange Stocks. Exchange ETFs
📈 Minimum spread0.13 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
Axiory has Tier-1 regulation, among othersThere is no ZAR account
There is a proprietary CopyTrade service and platformThere is no crypto trading
There are demo accounts offeredThere 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

 

Axiory Review

 

BDSwiss

 

BDSwiss Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFSC, FSA,FSCA, MISA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsCent, Classic, VIP, Zero
📱 Trading PlatformMetaTrader 4, MetaTrader 5
💰 Minimum Deposit$10 USD / R160 ZAR
🔎 Trading AssetsForex, Crypto, Indices, Shares, Commodities
📈 Minimum spread0.3 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
BDSwiss has over 250 instruments that can be tradedInactivity fees apply to all dormant accounts
BDSwiss offers free VPS to eligible clientsSouth 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

 

BDSwiss Review

 

OctaFX

 

OctaFX Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationSVGFSA
⚖️ FSCA Regulation?No
📊 Trading AccountsIntuitive and Versatile / Technically Advanced / Simple and Popular
📱 Trading PlatformMetaTrader 4, MetaTrader 5, OctaTrader
💰 Minimum Deposit$100 USD / R1600 ZAR
🔎 Trading AssetsForex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies.
📈 Minimum spread0.6 pips EUR/USD
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
South Africans can expect some of the most innovative trading technologyThere is a limited choice between tradable instruments
There are a few funding options to choose fromOctaFX 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

 

OctaFX Review

 

OANDA

 

Oanda Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
⚖️ FSCA Regulation?No
📊 Trading AccountsStandard Account, Core Account, Swap-Free Account, premium, premium core
📱 Trading PlatformMetaTrader 4, MetaTrader 5 ,
FXPlatform,
💰 Minimum Deposit$0 USD / R0 ZAR
🔎 Trading AssetsIndex CFDs, Forex, Metals, Commodity CFDs, Bonds CFDs, Precious Metals, Real-time Rates
📈 Minimum spread0.1 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
OANDA’s platform has won several awardsInactivity 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

 

Oanda Review

 

Tickmill

 

Tickmill Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationCySEC, FCA, FSA, FSCA, Labuan FSA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsPro Account, Classic Account, VIP Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5
💰 Minimum Deposit$100 USD / R1600 ZAR
🔎 Trading AssetsForex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies
📈 Minimum spread0.0 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
Tickmill is one of the most trusted brokers in South AfricaThere 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

 

Tickmill Review

 

CM Trading

 

CM Trading Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFSCA / FCA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsBronze, Silver, Gold, Premium
📱 Trading PlatformMetaTrader 4
💰 Minimum Deposit$100 USD / R1600 ZAR
🔎 Trading AssetsForex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies
📈 Minimum spread1.9 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌𝗖𝗼𝗻𝘀
CM Trading has a decent range of tradable instruments in several marketsThere are no fixed spreads offered
The platform is user-friendlyAutoChartist 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

 

CM Trading Review

 

CMC Markets

 

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).

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFCA, IIROC, ASIC, FMA, MAS
⚖️ FSCA Regulation?No
📊 Trading AccountsStandard account
📱 Trading PlatformMetaTrader 4
💰 Minimum Deposit$10 USD / R160 ZAR
🔎 Trading AssetsForex, Indices, Crypto, Treasuries, Share Baskets, Individual Shares, Commodities
📈 Minimum spread0.7 pips
🔎 Demo AccountYes
☪️ Islamic AccountNo
🚀 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 entitiesThe spreads are marked-up
CMC Markets is an FSCS memberThere 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

 

CMC Markets Review

 

Plus500

 

Plus500 Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationCySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsStandard Account
📱 Trading PlatformPlus500 desktop platform and mobile app
💰 Minimum Deposit$2670 USD / R 47500 ZAR
🔎 Trading AssetsCryptocurrencies, ETFs, Indices, Forex, Options, Shares, Commodities
📈 Minimum spread0.6 pips
🔎 Demo AccountYes
☪️ Islamic AccountNo
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
Plus500 is known for its competitive commission-free tradingPlus500 charges inactivity fees
There are zero fees on deposits or withdrawalsMetaTrader is not supported
South Africans have access to trading guides to help them on their trading journeyThere 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

 

Plus500 Review

 

Trade Nation

 

Trade Nation Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFCA, ASIC, FSCA, SCB
⚖️ FSCA Regulation?Yes
📊 Trading AccountsStandard Account
📱 Trading PlatformTrade Nation, MetaTrader 4
💰 Minimum Deposit$0 USD / R0 ZAR
🔎 Trading AssetsForex, Indices, Differentials, Energies, Precious Metals, Bonds, Share CFDs, Futures
📈 Minimum spread0.4 pips
🔎 Demo AccountYes
☪️ Islamic AccountNo
🚀 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 tradersCrypto trading is currently not offered
There are zero deposit or withdrawal feesThere is no option to convert a trading account to an Islamic account
Trade Nation does not have a set minimum deposit requirementThere are no managed accounts offered
South Africans can expect tight fixed spreads and no hidden feesThere are limited market analysis tools
South Africans can get a 25% spread rebate according to their trading volume

 

Trade Nation Review

 

eToro

 

eToro Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationCySEC, FCA
⚖️ FSCA Regulation?No
📊 Trading AccountsRetail Account, Professional Account
📱 Trading PlatformeToro proprietary trading app and web platform
💰 Minimum Deposit$1000 USD / R 16 000 ZAR
🔎 Trading AssetsForex Pairs, Commodities, Exchange-traded funds (ETFs), Indices, Crypto Assets, Stocks
📈 Minimum spread1 pip EUR/USD
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
eToro is a user-friendly solution even for beginnerseToro is not suitable for advanced traders who want to perform their own technical analysis
There are no commission charges on any trades through eToroLimited 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

 

eToro Review

 

IG

 

IG Review

 

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.

 

Overall Rating

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

𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻
⚖️ RegulationFSCA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsCFD Trading account / Corporate account / Retail account
📱 Trading PlatformMT4, Online trading platform,mobile & progressive app
💰 Minimum Deposit$0 USD , R0 ZAR
🔎 Trading AssetsForex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options
📈 Minimum spread0.1 pips
🔎 Demo AccountYes
☪️ Islamic AccountYes
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ 𝗣𝗿𝗼𝘀❌ 𝗖𝗼𝗻𝘀
IG offers over 19,000 tradable instruments across several platformsThe minimum deposit is extremely high
There are a plethora of trading tools and educational materials offered through IGThere are inactivity fees charged
South Africans can choose between several convenient deposit and withdrawal optionsThere 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

 

IG Review

 

Global GT (FXGT)

 

FXGT Review

 

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.

 

Overall Rating

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

FeatureInformation
⚖️ RegulationFSCA, FSA
⚖️ FSCA Regulation?Yes
📊 Trading AccountsPro, ECN, Mini, Standard
📱 Trading PlatformMetaTrader 5, MetaTrader 4
💰 Minimum Deposit$5 USD / R80 ZAR
🔎 Trading AssetsForex, Cryptocurrencies, Synthetic Cryptocurrencies, Precious Metals, Energies, Equity Indices, GTi12, Stocks, DeFi Tokens, NFTs
📈 Minimum spreadFrom 0.0 pips
🔎 Demo AccountYes
☪️ Islamic AccountNo
🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁👉Click Here

 

Pros and Cons

✔️ Pros❌ Cons
South Africans have a decent choice between different deposit and withdrawal optionsThere are inactivity fees applied when a trading account becomes dormant
There is a low minimum deposit of 85 ZAR to register an accountMetaTrader 4 is not offered
Global GT is an advanced hybrid brokerThere is a limited selection of research and education offered
There is a decent selection of educational materials offered
There are low transaction fees charged

 

FXGT - Global GT Review

 

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.

 

fxpro broker - forex brokers in south africa

 

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.

 

BDSwiss Forex Broker in South Africa

 

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.

 

AvaTrade Forex Broker in South Africa

 

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

#1

AvaTrade-Islamic

4.8/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

Tickmill Review

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.7/5

User Score

#10

4.7/5

User Score

 

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.

 

You might also like: Best ECN Forex Brokers

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You might also like: Forex Trading Robots

You might also like: FSCA Forex Brokers

 

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.

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