10 Best Forex brokers in South Africa accepting crebit cards

10 Best Forex Brokers in South Africa accepting Credit Cards

Nowadays, it is critical for traders to have a range of various payment alternatives available from their Forex brokers. Credit cards provide a variety of advantages, including speedier deposits and competitive interest rates.

Our investigation of the top ten Forex brokers in South Africa that accept credit cards is featured in this list.

It is illegal to fund offshore trading and investment accounts using your credit card as stated by the South African Reserve Bank, therefore making Khwezi Trade a local FSP and authorized Over-the-Counter (OTC) Derivatives Provider a safe and legal solution to trading online for South Africans.

Khwezi Trade

khwezi tradeKhwezi Trade is a South African broker that offers Rand-based accounts with variable spreads, leverage standard 1:100 up to 1:400, and the ability to trade micro-lots on the MetaTrader 4 platform.

Khwezi Trade offers CFD trading in currency pairs, commodities, and indices on the MT4 platform.

Khwezi Financial Services (PTY) Ltd. operates the brand, which is a firm that has been granted an ODP license by the Financial Services Conduct Authority (FSCA) to provide a forex and CFD trading platform in South Africa.

Khwezi Trade Pros and Cons

✔ Pros ❌ Cons
Trusted forex broker with regulation through the Financial Sector Conduct AuthorityNo crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensingThere are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South AfricaUS clients are not accepted
Traders are provided access to powerful trading technology
Competitive spreads are offered
There is a decent maximum leverage ratio offered

Khwezi Trade features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👍 FSCA
đŸ’ĩ Minimum deposit from💰 ZAR500
⚖ī¸ Average spread from👉 0,6 pips
📈 Commissions fromN/A
💸 Deposit/Withdrawal FeesN/A
⚖ī¸ Maximum Leverage⚖ī¸. 1:400
🤑 Bonuses👍 30%
❓ Customer SupportđŸĒ. 24/5

FXCM

FXCM-LogoFXCM was established in 1999, in New York.

FXCM is a well-established multinational online Forex and CFD broker that serves clients all over the world.

The company’s headquarters are in London, United Kingdom.

FXCM has offices in a number of important places across the world, including Australia, South Africa, Hong Kong, and a variety of European nations.

Indexes, commodities, FX, CFDs, and cryptocurrency products are all part of the company’s product offering.

FXCM Pros and Cons

✔ī¸ Pros❌ Cons
FXCM is a member of the FSCS compensation scheme, providing traders investor protectionThe average spread that traders can expect is not the tightest
Well-regulated
A social trading platform is provided for active traders and those who want to participate in copy trading
There is advanced charting provided by TradingView
Trading Central offers a daily analysis of all market conditions that traders can use on their trading day as part of a solid trading plan
Offers a ZAR Account and ZAR deposits

FXCM Pros and Cons

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 FCA, FSCA, ASIC
đŸ’ĩ Minimum deposit from💰 $50 / ZAR R800
⚖ī¸ Average spread from👉 1.2 pips
📈 Commissions from📈 $2 / ZAR R32 2.00 per 100k lot per side
💸 Deposit/Withdrawal Fees🙅 Start from $0 / ZAR R0 depending on withdrawal method used
⚖ī¸ Maximum Leverage⚖ī¸ 1:400
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

HotForex

HotForex-LogoForex and commodity trading services are available to both regular and institutional clients at HotForex, a brokerage firm.

By making its liquidity available to all kinds of traders, this broker aims to offer the finest possible trading conditions to its customers.

This makes HotForex a good choice for traders who wish to diversify their portfolios using a single platform, with a wide selection of tradable assets, such as currency pairs, metals, indices, and stocks.

Traders of all levels will find a wealth of resources at this site, from the novice to the expert.

Hotforex Pros and Cons

✔ī¸ Pros❌ Cons
Commission-free trading offered along with a ZAR accountFixed spreads are not provided
Education materials are provided along with an economic calendar, and other tools
Loyalty program, deposit bonuses, and other promotions offered
Tight average spread is offered on major currencies such as EUR/USD

Hotforex features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 CySEC, FCA, DFSA, FSA, FSCA, CNMV, BaFin
đŸ’ĩ Minimum deposit from💰 $5 / ZAR R80
⚖ī¸ Average spread from👉 0.0 pips
📈 Commissions from📈 $3 / ZAR R48
💸 Deposit/Withdrawal Fees🙅 None
⚖ī¸ Maximum Leverage⚖ī¸ 1:1000
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

XM

XM-LogoFor more than a decade, XM has provided traders with access to more than 1,000 financial CFD instruments in a variety of asset classes including forex, stocks, commodities, indices, metals, and energies.

These are offered on the widely used MetaTrader 4 and MetaTrader 5 trading platforms for PCs and Macs, the web, iOS and Android devices, and mobile devices.

There are three basic types of trading accounts offered by XM: Micro, Standard, and XM Zero, with the first two allowing for commission-free trading with spreads starting as low as 1 pip on the first two accounts.

A $5 minimum deposit is required.

Islamic swap-free accounts are available, and customer service is available from 5am to 7pm GMT by live chat, email, and telephone (inside the United Kingdom).

Both new and experienced traders can benefit from the comprehensive research and education area, which is packed with features and kept up to date.

XM Pros and Cons

✔ī¸ Pros❌ Cons
Low minimum depositInactivity fee charged after 90 days on live accounts
Comprehensive educational offeringLimited product portfolio
Streamlined account opening process

XM features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 IFSC, ASIC, CySEC, FCA and DFSA
đŸ’ĩ Minimum deposit from💰 $5
⚖ī¸ Average spread from👉 0.1 pips
📈 Commissions from📈 $3.5 commission per $100 000 traded
💸. Deposit/Withdrawal Fees🙅 None
⚖ī¸ Maximum Leverage⚖ī¸ 1:30
🤑 Bonuses💰 $30 Trading Bonus
❓ Customer SupportđŸĒ 24/5

Tickmill

tickmill-brokers-logoA regulated and award-winning online broker, Tickmill provides retail and institutional clients around the world with access to more than 80 trading instruments across a variety of markets.

These include foreign exchange (forex), commodities (gold, silver, platinum), stocks (equity), indices (stock index futures), metals (copper, gold futures), energies (oil, gas, coal), bonds (bond index futures), and CFDs (contract for difference).

Using cutting-edge technology, Tickmill is able to offer premium trading conditions, including low spreads starting at 0 pip, cheap fees, and execution times as quick as 0.15 seconds on average.

There are no requotes, and the execution methodology is a completely automated No Dealing Desk (NDD) paradigm, ensuring complete transparency.

Tickmill Pros and Cons

✔ Pros ❌ Cons
Negative balance protection offeredThere are no fixed spread accounts
FIX API, VPS, and AutoChartist offeredCrypto trading is not offered
Client funds are kept segregated in bank accounts with top financial institutionsA limited selection of educational tools offered
Investor protection is provided and Tickmill is a member of a compensation fund
Multi-regulated forex broker with a high trust score
Offers a range of advanced trading tools for professional traders

Tickmill features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 FSA, FCA, CySEC, Labuan FSA, FSCA
đŸ’ĩ. Minimum deposit from💰 $100 / 1 600 ZAR
⚖ī¸ Average spread from👉 0.27 pips
📈 Commissions from📈 No commission on Forex
💸 Deposit/Withdrawal Fees🙅. No
⚖ī¸ Maximum Leverage⚖ī¸ 1:500
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

Trading 212

trading 212 broker logoTrading 212 is a broker that is owned and run by a financial technology business.

By offering commission-free trading, this broker has caused significant disruption in the brokerage industry.

This broker is ideal for beginner traders since the trading conditions are excellent, and there are more than 1,800 assets accessible for trading across several asset classes.

Trading 212 Pros and Cons

✔ Pros ❌ Cons
Intuitive and user-friendly proprietary trading platform suppliedMetaTrader platforms are not supported
Low minimum deposit requirementIslamic Accounts are not offered to Muslim
Flexible funding options supported
Thousands of tradable instruments are available across different global financial markets
Well-regulated and safe broker offering trading for beginners

Trading 212 features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 FCA
đŸ’ĩ. Minimum deposit from💰 $0 / 0 ZAR
⚖ī¸ Average spread from👉 1.9 pips
📈 Commissions from📈 None
💸 Deposit/Withdrawal Fees🙅. None
⚖ī¸ Maximum Leverage⚖ī¸ 1:500
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/7

IC Markets

ICMarkets-LogoIC Markets was established in 2007. The number of forex trades that it does every day is enormous.

IC Markets is the largest single online forex/CFD brokerage in the world, according to market capitalization.

The platform has also received praise for having what many consider to be the lowest spreads in the European Union.

IC Markets provides a total of five different account kinds: one demo account and four different actual trading account types.

All account types, with the exception of the Islamic account type, are routinely activated and funded in a matter of minutes.

IC Markets Pros and Cons

✔ Pros ❌ Cons
Low forex feesNo Negative Account Balance Protection
Easy and fast account openingLimited number of available CFDs
Free deposit and withdrawal

IC Markets features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 ASIC
đŸ’ĩ. Minimum deposit from💰 $200 / 3200 ZAR
⚖ī¸ Average spread from👉 0.0 pips
📈 Commissions from📈 None
💸 Deposit/Withdrawal Fees🙅 None
⚖ī¸ Maximum Leverage⚖ī¸ 1:500
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/7

easyMarkets

easy markets broker logoeasyMarkets is an online market maker that provides a trading platform for derivatives such as contracts-for-difference and forward contracts.

The derivative security known as a contract for difference (CFD) allows consumers to obtain exposure to the price of a financial instrument without actually having the instruments in their accounts.

easyMarkets provides CFD trading in a wide range of asset classes, including currency, commodities, agricultural products, energy, indexes, and cryptocurrencies, among others.

Its unique features, like its exclusive dealCancellation tool, and emphasis on transparent pricing have made easyMarkets one of the most popular trading platforms in the world.

easyMarkets Pros and Cons

✔ Pros ❌ Cons
Highly simulated demo environmentProprietary Deal Cancellation feature is not available on the MetaTrader 4 platform
Responsive and professional customer support

easyMarkets features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 CySEC, ASIC
đŸ’ĩ. Minimum deposit from💰 $100 / 1600 ZAR
⚖ī¸ Average spread from👉 0.9 pips
📈 Commissions from📈 None
💸 Deposit/Withdrawal Fees🙅 None
⚖ī¸ Maximum Leverage⚖ī¸ 1:30
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

eToro

Etoro-LogoSince eToro was created in 2007, it has been licensed by two tier-1 countries and one tier-2 country, making it a secure broker for trading FX and CFDs.

Because of its simple online platform and mobile app, eToro is an excellent choice for both novice and experienced investors.

A multi-asset broker, eToro offers over 3,000 symbols and is constantly adding to its accessible market range.

eToro Pros and Cons

✔ Pros ❌ Cons
Advanced copy trading softwareHigh withdrawal fees
Low minimum depositHigh trading fees for forex
No deposit feesOnly one base currency available for accounts

eToro features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 CySEC, FCA, ASIC
đŸ’ĩ. Minimum deposit from💰 $50 / 800 ZAR
⚖ī¸ Average spread from👉 0.75 pips
📈 Commissions from📈 No commission on stocks and ETFs
💸 Deposit/Withdrawal Fees🙅 $5 / 80 ZAR
⚖ī¸ Maximum Leverage⚖ī¸ 1:30
🤑 Bonuses💰 Yes
❓ Customer SupportđŸĒ 24/5

FxPro

FXPro-LogoFxPro was established in 2006

FxPro has offices in the UK and Cyprus, today provides services to clients in more than 150 countries across the world.

Their service to both new consumers and high net worth individuals is technologically advanced across numerous accounts dependent on the trading platforms they offer.

There are a variety of trading options accessible for people who want to trade while on the go.

FxPro Pros and Cons

✔ī¸ Pros❌ Cons
Mobile trading platform offered for Android and iOS mobile tradersManaged accounts are not available
VPS is provided through Beeksfx to ensure that active traders remain connected to financial marketsSocial trading opportunities are not provided ye
FxPro applies an NDD execution policy and model to ensure accurate and competitive pricing
Expert analysis is provided by Trading Central and there is an economic calendar that traders can use to keep an eye on economic events
Premium trader tools and a range of educational materials offered

FxPro features

👉 Featureℹī¸ Information
👮‍♂ī¸ Regulation👉 FSCA, CySEC
đŸ’ĩ Minimum deposit from💰 $100 / ZAR R1600
⚖ī¸ Average spread from👉 0.37 pips
📈 Commissions from📈 $45 / ZAR R720 per million USD traded
💸. Deposit/Withdrawal Fees🙅 None
⚖ī¸ Maximum Leverage⚖ī¸ 1:30
🤑 Bonuses💰 N/A
❓ Customer SupportđŸĒ 24/7

Further Reading

10 Best Forex Brokers in South Africa with Segregated Bank Accounts
10 Best Forex Brokers in South Africa Accepting Credit Cards
10 Best Forex Brokers in South Africa Accepting Debit Cards
10 Best Scalping Forex Brokers in South Africa
10 Best Hedging Forex Brokers in South Africa
10 Best Forex Brokers with no Trading Commission in South Africa
List of 10 Best Commodity Forex brokers in South Africa
10 Best Forex brokers in South Africa with same day withdrawal

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