PROS CONS
Well-regulated by the Financial Sector Conduct Authority and caters specifically for South African traders Limited account currency options
Innovative mobile apps offered through MetaTrader Limited funding options
Trading tutorials and market analysis provided Individual stock trading not supported
There is a dedicated account manager is provided More premium accounts have the best trading conditions
There is a choice between trading ZAR accounts
PROS CONS
Well-regulated South African broker with a longstanding track record Wide spreads
Negative balance protection added to ZAR accounts There is no daily market analysis provided
Flexible account funding options are provided Limited tradable instruments
Deposit fees and withdrawal fees are not charged Lack of additional trading tools
Copy trading is offered along with additional software to suit the individual preferences of traders
PROS CONS
Well-regulated broker and financial service provider Limited funding options offered
There is a wide range of assets that can be traded Limited educational materials offered
Flexible and innovative trading platforms supported Not suited to beginner traders
Client fund security is guaranteed, and funds are kept separate from company funds
Recommended for institutional traders
PROS CONS
Well-regulated by CySEC and FSCA which are both top-tier regulators Demo accounts are only available for 14 days
All trading strategies are accommodated Limited education materials offered
Trading platforms are flexible and innovative Market News and analysis are not offered
Reliable trade execution speeds with minimal slippage Limited funding options offered
Competitive trading conditions are provided High minimum deposit requirement
PROS CONS
Free forex trading signals are provided along with excellent market analysis Inactivity fee charged
Excellent education materials are provided A high minimum deposit required
A wide range of advanced trading tools are offered
Powerful and user-friendly trading platforms provided along with innovative forex trading apps
Fast, low-cost trading guaranteed
Multi-regulated and trusted financial service provider and forex broker
Deposit fees and withdrawal fees are not charged
Offers a choice between retail trading accounts for South African clients
Offers Islamic Accounts for Muslim Traders
PROS CONS
Well-regulated by several entities through its parent company, giving traders peace of mind Fixed spreads are not offered
Allows all kinds of traders including active traders, high volume traders, and others
Commission-free trading offered along with free financial education
Negative balance protection applied to retail accounts
PROS CONS
A well-regulated financial services provided and broker in the forex industry Limited retail account options
Offers a wide range of currency pairs and several other instruments Limited funding options
Advanced trading tools offered, adding a competitive edge to trading strategies of experienced traders Spreads are not the tightest
Educational materials are offered alongside a powerful forex trading platform
Offers currency trading, CFD trading, and a plethora of trading opportunities
PROS CONS
A perfect option for beginner forex traders in South Africa Limited financial instruments offered
Offers tight average spreads, a high maximum leverage ratio, and low USD minimum deposit
Regulated by top-tier regulators in the forex industry
Offers advanced trading tools, excellent education, and award-winning customer service
PROS CONS
Provides retail investors with a range of assets that can be traded at some of the lowest raw spreads Inactivity fees charged after 3 months of inactivity
Offers dedicated customer support available in multiple languages
Islamic Trading Accounts are offered
Offers powerful trading tools consisting of advanced charting, educational tools, and more
Well-regulated by foreign regulators and a reputable South African regulator
Commission-free trading is offered on foreign currencies
PROS CONS
Copy-trading offered Limited trading instruments
Well-regulated Individual stock CFDs not offered
Islamic Account offered Lack of education
FIX API provided Limited funding options
User-friendly trading platform provided

Some offer ZAR accounts, but not all. FSCA-regulated brokers who are headquartered in South Africa tend to offer ZAR accounts with South African banks, but international forex brokers who have FSCA regulation will not always offer ZAR-denominated trading accounts.

Yes, if the regulation of the forex broker has been verified on the FSCA’s official website, these brokers can be trusted. However, keep an eye out for any warnings issued by the FSCA about brokers.

Several brokers, both local and international, have FSCA regulation and the brokers on this list are some of the best.

Yes, as a South African trader you should consider trading with an FSCA-regulated forex broker to ensure that you are covered and that your funds are safe.

The FSCA is a governing body and competent regulatory authority in South Africa that oversees the financial markets in South Africa, including the forex market.