PROS CONS
Proudly South African forex broker with strict regulation through FSCA and authorized as an ODP Individual stock trading not supported
Broker is one of the first non-bank entities that is an authorised FSP with an OTC license in South Africa Limited account currency options with ZAR as the base currency of retail investor accounts
Offers different analyses of market conditions to help traders with their trading decisions There is a limited selection of funding options available
A dedicated account manager is provided
There is a choice between trading account with segregated third-party bank accounts
Provides comprehensive market analysis
PROS CONS
FSCA-regulated broker that is trustworthy Inactivity fees are applied to dormant accounts
Tight average spreads are provided with reliable trade execution
Commission-free trading offered on some retail investor accounts
Low minimum deposit required
More than 250 financial instruments offered
Powerful trading platforms and an innovative proprietary trading app offered
PROS CONS
Multi-regulated broker with a high level of trustworthiness in South Africa There is a limited selection of markets available
Offers extremely high maximum leverage up to 1:2000 Proprietary platform not offered
Dedicated and multilingual customer support offered across communication channels
Low minimum deposit requirement on all retail investor accounts
Client funds are kept safe in segregated accounts with top-tier banks
Offers powerful trading software across devices
PROS CONS
South African broker with regulation through the Financial Sector Conduct Authority, a reputable market regulator in South Africa There is a limited selection of retail investor accounts offered
Educational tools are granted to beginner traders There are only a few deposit methods to choose from
Dedicated customer support offered through different communication channels
Multiple advanced trading tools offered including market analysis, fundamental analysis, technical analysis, and more
Intuitive trading platforms supported in a transparent trading environment
Tight spreads are offered
PROS CONS
FSCA-regulated broker with regulations through several other market regulators in several regions Fixed spreads are not provided
Investor protection provided
Commission-free trading offered on some forex trading accounts
Negative balance protection is applied to retail accounts
Competitive trading conditions offered across a wide range of tradable instruments of different trade sizes
Powerful forex trading apps, web-based and desktop platforms
PROS CONS
Trusted and well-established and popular forex broker with regulations and authorisation to operate in South Africa Fixed spreads are not offered
Competitive trading conditions with some of the lowest spreads, and low commissions on trading accounts
There is a range of complex instruments provided across a wide range of markets
Flexible trading platforms are offered including a powerful proprietary trading platform and a mobile trading app
Provides a choice in dynamic trading accounts with demo accounts that can be used while practising trading
Offers comprehensive market analysis that analyses market conditions, exchange rates, and other factors to help with trading decisions
PROS CONS
Multi-regulated and trusted broker MetaTrader 5 is not offered
Offers comprehensive services, analytical tools and a powerful web, desktop, and mobile platform There may be restrictions on leverage
Low and competitive commission charges
Flexible convenient payment methods offered for deposits and withdrawals
Account funding fees are not charged
Powerful and advanced trading tools offered
PROS CONS
Advanced trading tools offered across all trading platforms for use while trading forex and other tradable instruments Social trading is not supported yet
Provides South Africans with a range of trading opportunities and comprehensive trading solutions Managed accounts are not offered
Well-regulated by the FSCA and several other reputable market regulators
Flexible trading platforms supported
NDD Execution model used to ensure the lowest trading costs
Traders can choose from a range of complex instruments that can be traded
PROS CONS
FSCA-regulated broker popular amongst South African retail traders trading forex Inactivity fees are charged
A wide range of instruments are offered across asset classes
Deposit fees and withdrawal fees are not charged on any of the funding methods available
Commissions are not charged on trades
Trustworthy broker with comprehensive trading tools, a plethora of trading opportunities and a range of educational materials
Flexible and reliable funding options are available including instant deposits
PROS CONS
Multi-regulated by trusted entities including the FSCA in South Africa Cryptocurrency CFDs are not supported yet
Negative balance protection is applied to all retail accounts Limited educational materials offered
Member of a compensation fund and provides investor protection Fixed spreads are not provided
Offers access to VPS, FIX API, and AutoChartist
Commission-free trading is offered
Offers powerful trading software
PROS CONS
Well-regulated broker that has a high trust score Limited trading instruments available
Member of the FSCS and provides investor protection Lack of educational materials offered
Social trading opportunities are provided
Innovative trading platforms are supported
There is technical analysis provided through AutoChartist
Versatile trading solutions are provided

Yes, forex trading is a legal activity in South Africa.

Brokers make money either from commissions, spreads, or other fees such as account maintenance and management, inactivity fees, etc.

The brokers who are featured on this list are some of the best forex brokers in South Africa with the lowest spreads.

Because it offers a low barrier of entry, high liquidity, low trading fees, and a plethora of trading opportunities.

Once you have selected a forex broker, you can start trading using a trading account alongside educational materials, resources, and tools.