10 Best Forex Brokers in South Africa

10 Best Forex Brokers in South Africa

Retail forex trading in South Africa involves speculation on the price movements of foreign currencies to earn a profit. South African retail traders have endless trading opportunities using different trading strategies in one of the largest, most liquid financial markets in the world.

South African traders have access to the forex market 24 hours a day, 5 days a week. To trade forex, traders must use the services of a forex broker to connect them to global markets.

The process involved with selecting the right forex broker can be time-consuming and tedious, especially for beginner traders.

To make the selection easier, we have gathered information on 10 of the best forex brokers who have offices based in South Africa.

Features

Established in 2013, Khwezi Trade is a FSCA authorised OTC forex broker based in South Africa. Khwezi trade provides retail traders with the opportunity to trade a wide range of financial instruments spread across several asset classes.

Traders have a choice between four live account types in addition to a demo account that can be used. Khwezi Trade provides competitive trading conditions to beginners as well as seasoned traders.

In addition, traders are also provided educational material, trading tools, tight spreads, decent maximum leverage, a transparent trading environment, and a reasonable minimum deposit requirement.

PROS	CONS
Well-regulated forex broker & authorised ODP	US traders are not accepted
Offers the MetaTrader trading platform across several devices	Limited account currency options
Provides educational material and comprehensive market analysis	Limited funding options
Traders can choose between four dynamic trading account types
Demo accounts are offered
Traders receive a dedicated account manager

Features

AvaTrade is one of the largest and most popular CFD and forex brokers in the world, offering South African traders a wide range of markets and competitive spreads, with the benefit of commission-free trading.

AvaTrade only offers one retail investor account, but it is jam-packed full of features that cater for novice and professional traders, regardless of their unique trading styles.

Traders have access to a wide range of advanced trading tools, powerful trading platforms that includes an innovative proprietary trading platform, competitive trading conditions, low minimum deposits, and the complete safety of client funds.

PROS	CONS
More than 1,250 trading instruments provided across financial markets	Variable spreads not offered
Multi-regulated online trading provider	Limited retail investor account types
Offers tight spreads and a powerful proprietary platform
Commission-free trading provided
Negative balance protection is applied, and educational resources are offered
Social trading opportunities are provided

Features

Pepperstone is one of the largest brokers in the industry according to trading volume, serving traders from more than 65 countries worldwide, including South Africa.

Through Pepperstone, South African traders can access more than 80 tradable financial instruments which are spread across forex major pairs, minors, and exotics, precious metals, energies, exchange-traded funds, commodities, and several others.

Pepperstone offers South African traders a choice between powerful forex trading platforms that can be used through the web, desktop applications, and mobile trading apps.

PROS	CONS
Pepperstone is an award-winning and FSCA-regulated broker and online trading provider	Fixed spreads are not offered
Traders can expect competitive spreads, low commissions, transparent broker fees, and reliable trade execution
Offers a choice between trading accounts and access to a range of markets
Advanced trading tools and educational resources offered
Social trading platform and trading options supported across a wide range of trading instruments
Negative balance protection is applied to retail trading accounts

Features

Tickmill is a reputable and FSCA-regulated online forex broker in terms of unbeatable trading conditions and trading opportunities provided to retail traders and institutional investors.

Tickmill supports a wide range of trading strategies, offering South African traders a wide range of trading instruments. Tickmill also supports convenient funding methods including debit cards, credit cards, bank transfers, and a few others.

PROS	CONS
A multi-regulated forex broker that offers a range of markets	No fixed spreads
Negative balance protection is applied	Limited education offered
Member of an investor compensation fund
Offers commission-free trading and low broker fees
Offers AutoChartist, VPS, and FIX API for experienced traders
Powerful currency trading platforms are supported

Features

Exness is one of the best international forex brokers that operate in South Africa, with the necessary regulation and authorisation to offer flexible trading solutions to South African retail traders.

Exness offers dedicated customer support 24 hours a day, 5 days a week and ensures a fair and transparent trading environment for all traders. South African clients can also expect low minimum deposits, tight spreads, and access to international financial markets.

PROS	CONS
FSCA-regulated and trusted forex broker	Limited financial instruments offered
Offers high maximum leverage and flexible trading accounts
Dedicated customer support provided 24/5
Traders can expect low minimum deposit requirements and a dedicated ZAR trading account
Competitive trading conditions are offered
Powerful forex trading apps offered

Features

Plus500 is a leading online forex broker in terms of its global presence, providing traders from around the world the best exposure to a wide range of trading instruments.

South African clients are provided with a powerful proprietary trading platform that can be used to trade over 2,000 tradable instruments. Plus500 offers comprehensive trading solutions that cater for both novice and experienced traders.

Plus500 is also one of few forex brokers with a stock exchange listing on the London Stock Exchange (LSE), in addition to being a part of the FTSE 250 Index.

PROS	CONS
One of the most trusted FSCA-regulated brokers in South Africa	Fixed spreads not offered
Commission-free trading provided	Inactivity fees are charged
User-friendly proprietary trading platform provided for beginner forex traders
Flexible account funding options are provided
More than 2,000 instruments can be traded across financial markets
Advanced trading tools are provided

Features

FXTM is one of the most popular and trusted FSCA-regulated brokers that provide traders access to a wide range of opportunities trading forex and several other instruments. FXTM is a broker well-known for its comprehensive trading solutions, range of markets and user-friendly trading platforms.

FXTM provides South African clients access to a range of educational tools, a choice between flexible trading accounts, and tailor-made trading conditions that cater for every foreign exchange trader.

PROS	CONS
Well-regulated by several regulatory bodies	An inactivity fee will apply to dormant accounts
Offers tight average spreads and fast trade execution
Provides a decent range of assets and instant execution
Offers low minimum deposits and a range of trading opportunities
Commission-free trading is supported, and rollover fees are competitive
Multilingual support is offered

Features

HotForex is a part of HF Markets, and it is a popular and trusted forex broker that provides South African clients with some of the best trading conditions. HotForex has more than 1.5 million traders from around the world and it has won more than 25 industry awards since its inception in 2010.

HotForex is a trusted forex broker that provides tailor-made retail trading accounts, trading tools, educational tools, deposit bonuses, a loyalty program, promotions, and a plethora of trading opportunities.

PROS	CONS
Well-regulated by trusted regulatory authority entities	Fixed spreads are not provided
HotForex is a member of an investor compensation fund
Offers commission-free trading and a transparent trade execution policy, with instant execution provided
Negative balance is applied to retail accounts
Offers a range of assets that can be traded and competitive rollover fees
Provides trusted, flexible funding options

Features

IG Markets (IG Markets South Africa Limited) is one of the best online brokers in the industry, accepting more than 200,000 forex traders from different regions worldwide. IG offers more than 17,000 tradable instruments that are spread across several asset classes including the foreign exchange market, cryptocurrency market, stock market, and several others.

IG offers a flexible choice between different retail trading accounts, education materials, trading platforms, an economic calendar, and comprehensive trading solutions. IG is transparent and there are no hidden fees involved when South African clients deal with this broker.

PROS	CONS
Free trading signals are provided	There is a high minimum deposit charged
Powerful and innovative trading technology provided	Inactivity fees are charged
IG Markets is multi-regulated by several regulatory bodies
FIX API DMA trading for experienced traders is supported by IG Markets
Offers a wide range of assets across financial markets with competitive average spreads
Demo account and Islamic account option offered
There is a vast range of withdrawal and deposit methods supported

Features

Axi is one of the most trusted forex brokers in South Africa that provides flexible trading solutions to retail South African forex traders. This award-winning ECN and STP international forex and CFD broker is well-regulated, ensuring that client funds are kept secure in segregated accounts.

Axi offers some of the most competitive trading conditions to traders in over 150 countries, including South Africa. With Axi, traders can expect a wide range of assets, low minimum deposits, educational tools, instant deposits and withdrawals, and innovative forex trading platforms.

Traders can expect access to a wide range of forex pairs, stocks, commodities, and several other tradable instruments. Apart from regulatory protection through the Financial Sector Conduct Authority (FSCA), Axi also offers dedicated customer support, a choice between retail accounts, and some of the lowest trading fees in South Africa.

PROS	CONS
Multi-regulated broker that caters for South African traders	There may be some restrictions on the maximum leverage ratio offered
Tight average spreads are offered
Flexible funding options are offered
Powerful trading platforms are offered
Trading signals provided
Low and competitive commissions are charged

Frequently Asked Questions

Yes, forex trading is a legal activity in South Africa that can be carried out through an FSCA-regulated broker.

Forex brokers are intermediaries between the forex trader and other currency traders in the forex market. Brokers facilitate the trading itself and in the case of market makers, they represent the counterparty. Using a regulated broker will ensure a fair, secure trading environment and the safety of client funds.

Yes, you need the services of a forex broker to trade forex. It is too expensive and technically complex to connect to the forex market without a forex broker.

Several forex brokers accept deposits in Bitcoin.

Forex brokers make money from the spread, commissions, or other broker fees such as currency conversion fees, inactivity fees, account maintenance and management fees, and others.

10 Best FSCA-Regulated Forex Brokers in South Africa
10 Best Forex Brokers in South Africa
10 Best Forex Brokers in South Africa with ZAR Accounts
10 Best Forex Brokers in South Africa with Low Minimum Deposit
10 Best Forex Brokers in South Africa with High Leverage

10 Best Forex Brokers in South Africa with Low Minimum Deposit

10 Best Forex Brokers in South Africa with Low Minimum Deposit

The foreign exchange market, also known just as the forex market, is known as the largest financial market that has high trading volumes, high liquidity, and high volatility. These market conditions mean that retail traders can quickly buy and sell currency pairs.

It also means that the forex market provides a low barrier of entry to those traders who have smaller amounts of capital that they can dedicate towards trading. Forex brokers with low minimum deposits are the best option for beginner traders who are starting to explore the financial markets.

While many forex brokers require high minimum deposits, the following forex brokers in South Africa offer low minimum deposits.

Khwezi Trade

Khwezi Trade is a South African forex broker that has been in operation for the past eight years, offering a wide range of comprehensive trading solutions to South African retail forex traders and professional investors.

Khwezi Trade is a Financial Sector Conduct Authority-regulated OTC trading provider that offers traders some of the best trading conditions in the industry.

With Khwezi Trade, traders have an option between four live trading accounts, and the entry-level account has a minimum deposit of 500 ZAR.

Khwezi Trade provides traders with a low entry barrier into a wide range of instruments and a plethora of trading opportunities.

Khwezi Trade Pros and Cons

✔ Pros	❌ Cons
Trusted forex broker with regulation through the Financial Sector Conduct Authority	No crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensing	There are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South Africa	US 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

✔ Pros	❌ Cons
Trusted forex broker with regulation through the Financial Sector Conduct Authority	No crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensing	There are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South Africa	US clients are not accepted
Traders are provided access to powerful trading technology
Competitive spreads are offered
There is a decent maximum leverage ratio offered

FOREX.com

FOREX.com is one of the largest international brokers in the world.

FOREX.com is one of the only brokers that have an execution scorecard, instilling confidence in retail traders that the broker can meet their trading objectives.

FOREX.com offers retail traders from South Africa a plethora of trading opportunities spread across several complex instruments.

When traders start trading with FOREX.com, they are given access to user-friendly trading platforms, educational material, dedicated customer services, and advanced trading tools.

FOREX.com Pros and Cons

✔ Pros	❌ Cons
One of the best international brokers with multi-regulations	Inactivity fees are charged
Offers a choice in complex instruments along with various trade sizes and instant execution
Commission-free retail accounts are offered along with instant deposits and withdrawals
Powerful trading tools are offered to experienced traders
TradingView provided in addition to other advanced trading tools
An execution scorecard is provided, ensuring a guaranteed execution policy

FOREX.com features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MAS
💵. Minimum deposit from	💰 $100 / 1 600 ZAR
⚖️ Average spread from	👉 1.5 pips
📈 Commissions from	📈 $5 / 80 ZAR commission per 100K traded
💸 Deposit/Withdrawal Fees	🙅. Not indicated
⚖️ Maximum Leverage	⚖️ 1:50
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

XM

XM is one of the largest forex brokers in South Africa that has a long, rich history of providing competitive trading conditions, a range of tradable derivative instruments, and a choice between trading accounts suited to novice traders as well as professional traders.

All retail trading accounts have negative balance protection which is applied, and traders can choose between different educational material, trading tools, and powerful trading platforms that can be used for trading activities, carrying out technical and fundamental analysis, and more.

XM Pros and Cons

✔️ Pros	❌ Cons
Low minimum deposit	Inactivity fee charged after 90 days on live accounts
Comprehensive educational offering	Limited product portfolio
Streamlined account opening process

XM features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 IFSC, ASIC, CySEC, FCA and DFSA
💵 Minimum deposit from	💰 $5
⚖️ Average spread from	👉 0.1 pips
📈 Commissions from	📈 $3.5 commission per $100 000 traded
💸. Deposit/Withdrawal Fees	🙅 None
⚖️ Maximum Leverage	⚖️ 1:30
🤑 Bonuses	💰 $30 Trading Bonus
❓ Customer Support	🏪 24/5

FXCM

FXCM is a well-regulated United Kingdom-based forex broker with regulation through the Financial Conduct Authority (FCA), welcoming beginner forex traders from around the world, including South African clients.

FXCM has been operating since 1999 and it has a good track record in providing some of the best trading conditions.

When South African traders consider using FXCM, they can expect a low minimum deposit which will give them access to a broad range of forex and CFD trading instrument, flexible funding options that include bank transfer, credit card, debit card, and several other options.

FXCM Pros and Cons

✔️ Pros	❌ Cons
FXCM is a member of the FSCS compensation scheme, providing traders investor protection	The 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 features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FCA, FSCA, ASIC
💵 Minimum deposit from	💰 $50 / ZAR R800
⚖️ 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
⚖️ Maximum Leverage	⚖️ 1:400
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

IQ Option

IQ Option was founded in 2013 and it is one of the largest international brokers in the world, providing comprehensive trading solutions to traders from around the world, including South African clients.

IQ Option boasts more than 20 million registered trading accounts that use its powerful proprietary trading platform to trade a range of markets.

South African traders can register a live trading account with IQ Option from as little as 140 ZAR.

When traders use IQ Option, they can expect access to multiple order types, technical indicators, technical analysis, charting capabilities, educational materials, and more.

IQ Option Pros and Cons

✔ Pros	❌ Cons
IQ Option is a reputable broker for beginners with the necessary regulations from a reputable regulation authority	Restricted maximum leverage for non-professional traders
Segregated accounts in which client funds are held	Fixed spreads are not offered
Offers a wide range of assets that can be traded using different trading strategies
Transparent and low broker fees charged
Advanced trading tools are offered to advanced traders as well as high-volume traders
Offers transparent swap rates, reasonable margin requirements, and a powerful proprietary trading platform

IQ Option features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CySEC
💵. Minimum deposit from	💰 $10 / 1 60 ZAR
⚖️ Average spread from	👉 0.6 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅. None
⚖️ Maximum Leverage	⚖️ 1:1000
🤑 Bonuses	💰 No
❓ Customer Support	🏪 24/7

RoboForex

RoboForex is one of the most trusted STP and ECN forex brokers and one of the best market makers in the industry.

RoboForex has won different industry awards for its impressive customer services.

RoboForex welcomes South African retail traders and provides a live trading account with an ultra-low minimum deposit of R140, which makes it easy for traders to start trading forex.

RoboForex offers more than 9,400 tradable instruments which are spread across several asset classes.

South African clients can use the competitive trading conditions that RoboForex offers to provide them with some of the best pricing.

RoboForex Pros and Cons

✔ Pros	❌ Cons
Well-regulated by reputable market regulators	Fixed spreads are not provided
Negative balance protection is offered on retail trading accounts
Flexible account types are offered
There is a wide range of assets that can be traded using different trading strategies
Offers several trading tools, an economic calendar, Islamic trading accounts, and an active trader program
Offers multilingual and dedicated customer service

RoboForex features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 IFSC
💵. Minimum deposit from	💰 $10 / 160 ZAR
⚖️ Average spread from	👉 0.01 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅. None
⚖️ Maximum Leverage	⚖️ 1:1000
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/7

Capital.com

Capital.com is another reputable United Kingdom-based forex broker that is well-regulated and can ensure client fund security and client protection.

Captial.com offers South African traders the opportunity to trade more than 2,000 financial instruments that are spread across forex pairs, cryptocurrency markets, commodities, and others.

Capital.com offers competitive average spreads, commission-free trading, and advanced trading tools that traders can use to add a competitive edge to their trading.

Capital.com Pros and Cons

✔ Pros	❌ Cons
Well-regulated by top-tier regulators and welcomes South African customers	Limited maximum leverage ratio offered
Variety of educational tools provided including a demo account funded with virtual money	MetaTrader is not supported
Offers a wide range of assets that can be traded
Dedicated customer service is offered
Transparent broker that does not have any hidden costs or fees

Capital.com features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FCA, ASIC, MiFID
💵. Minimum deposit from	💰 $20 / 320 ZAR
⚖️ Average spread from	👉 0.6 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅. None
⚖️ Maximum Leverage	⚖️ 1:30
🤑 Bonuses	💰 No
❓ Customer Support	🏪 24/5

Alpari

Alpari was established in 1998 and is one of the most reputable online trading brokers in the world.

Alpari is a well-regulated STP and ECN forex broker that provides comprehensive trading solutions to South African traders starting from 76 ZAR when they register a live trading account.

Alpari boasts of partnerships with reputable liquidity providers, ensuring that South African clients can expect fast trade execution speeds at some of the best possible prices.

Alpari offers tailor-made trading accounts with features that cater to all types of traders.

Alpari Pros and Cons

✔ Pros	❌ Cons
The minimum deposits required are ultra-low and competitive	Limited range of assets offered
There are low commissions on forex trading
High maximum leverage offered as well as tight average spread
Provides a choice between powerful trading platforms
Offers ZAR trading standard accounts
Offers dedicated customer service

Alpari features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 FSCM
💵. Minimum deposit from	💰 $100 / 1 600 ZAR
⚖️ Average spread from	👉 0.9 pips
📈 Commissions from	📈 Yes
💸 Deposit/Withdrawal Fees	🙅 Yes
⚖️ Maximum Leverage	⚖️ 1:400
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

FXTM

FXTM is a popular online broker with regulations through several regulatory entities, including the Financial Sector Conduct Authority, amongst others.

FXTM provides South African traders with trading accounts that start from 140 ZAR, with the benefit that traders can choose ZAR as their base currency.

FXTM offers competitive spreads, low commissions, a choice between several retail investor accounts, and flexible funding options that can be used for deposits and withdrawals.

FXTM Pros and Cons

✔ Pros	❌ Cons
Offers more than 250 financial instruments	Inactivity fees charged on dormant accounts
Offers a choice between retail investment accounts
Commission-free trading options are offered
Requires a low minimum deposit
Dedicated and multilingual customer support offered
Perfect broker for beginners

FXTM features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CySEC, FCA, FSC, FSCA
💵. Minimum deposit from	💰 $10 / 160 ZAR
⚖️ Average spread from	👉 0.1 pips
📈 Commissions from	📈 No commission on Forex
💸 Deposit/Withdrawal Fees	🙅. Deposit fees no, withdrawal fees yes
⚖️ Maximum Leverage	⚖️ 1:2000
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

FXDD

FXDD is another popular option for South African traders who seek a low barrier of entry into the foreign exchange market, amongst several other financial markets.

South African residents can start trading with FXDD from 140 ZAR.

FXDD offers some of the lowest spreads, powerful trading platforms, mobile trading apps, and comprehensive trading options that suit novice traders as well as institutional investors.

FXDD Pros and Cons

✔ Pros	❌ Cons
Well-regulated by major regulators	Fixed spreads are not offered
Negative balance protection is applied to retail investor accounts
Commission-free account offered to beginner and experienced traders
Competitive trading conditions are offered
Provides access to a user-friendly platform and mobile platforms
Rollover fees, broker charges, and other fees are transparent

FXDD features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 MFSA
💵. Minimum deposit from	💰 $50 / 800 ZAR
⚖️ Average spread from	👉 0.4 pips
📈 Commissions from	📈 $5.98 / 95.68 ZAR
💸 Deposit/Withdrawal Fees	🙅. Variable
⚖️ Maximum Leverage	⚖️ 1:30
🤑 Bonuses	💰 No
❓ Customer Support	🏪 24/5

Frequently Asked Questions

By drawing up a list of the components that you need to evaluate and comparing them between brokers. You can also use comprehensive broker reviews to evaluate certain components.

You need to consider the spread, commissions, overnight fees, and any other trading and non-trading fees to determine how much each trade will cost you.

Forex trading can be complex, but beginners can start trading forex using demo accounts funded with virtual money until they have built up enough trading experience. From here, beginner traders can use cent or micro accounts with lower risks to start trading in a live environment.

Yes, you can use a wide range of educational materials to teach yourself forex trading.

The forex market is the largest, most easily accessible financial market in the world. The forex market features lower trading costs because of its liquidity, making it a popular choice for all types of traders.

10 Best Forex Brokers in South Africa with High Leverage

10 Best Forex Brokers in South Africa with High Leverage

High leverage is one of the main attractions of the foreign exchange market, allowing traders to trade larger positions with smaller amounts of capital. Higher maximum leverage ratios will allow South African traders to open larger positions in forex markets, increasing their chances of earning larger potential profit.

This is done when the broker offers a loan to the trader, requiring that the South African trader pay a margin requirement as collateral for the trade. While this tool is a trading advantage, leverage comes with increased risks.

Using a high maximum leverage ratio can result in larger losses and it can often clear out the trading account. Apart from using risk management protocols, traders are urged to use educational materials to ensure that they know how to trade using leverage and margin.

Another protective measure when trading with leverage is to ensure that the retail trading account has negative balance protection applied, protecting the investor from a negative account balance. South African brokers offer generous amounts of leverage and South African traders are not restricted from using high leverage ratios.

Therefore, we have compiled a comprehensive list that features some of the best high leverage forex brokers in South Africa.

Khwezi Trade

Khwezi Trade is an FSCA-regulated forex broker and an authorized OTC provider headquartered in South Africa.

Khwezi Trade offers leverage of 1:100 standard and up to 1:400 on request to retail and professional traders.

This allows traders to open positions 100 up to 400 times larger than their initial minimum deposit.

Khwezi Trade is a reputable broker with a strict execution policy in ensuring that client orders are processed quickly with minimal slippage.

Khwezi Trade is an award-winning broker.

Khwezi Trade is committed to providing South African traders competitive trading conditions, tight average spreads and powerful trading technology.

Khwezi Trade Pros and Cons

✔ Pros	❌ Cons
Trusted forex broker with regulation through the Financial Sector Conduct Authority	No crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensing	There are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South Africa	US 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

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👍 FSCA
💵 Minimum deposit from	💰 ZAR500
⚖️ Average spread from	👉 0,6 pips
📈 Commissions from	N/A
💸 Deposit/Withdrawal Fees	N/A
⚖️ Maximum Leverage	⚖️. 1:400
🤑 Bonuses	👍 30%
❓ Customer Support	🏪. 24/5

FBS

FBS is one of the best international online brokers that welcomes forex traders from South Africa.

FBS is well known for its comprehensive trading solutions and competitive trading conditions featuring tight and competitive spreads, commission-free trading options, and access to a wide range of financial instruments.

FBS offers South African clients an impressive maximum leverage ratio of 1:3000, which means that South African clients can open positions 3000 the size of their initial investment. However, traders are urged to ensure that they apply the required risk management measures to protect their trading account against loss.

With FBS, beginner and professional traders are given access to forex pairs that include major pairs, minor pairs, exotic pairs, stock trading, cryptocurrency markets, and several other liquid markets that can be traded.

In addition to supporting powerful trading platforms, FBS also offers its proprietary mobile trading app.

FBS Pros and Cons

✔️ Pros	❌ Cons
Ultra-fast trade execution	Deposit and withdrawal fees
Low spreads and commissions

FBS features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👍 CySEC
💵 Minimum deposit from	💰 $100
⚖️ Average spread from	👉 0.0
📈 Commissions from	📈 ‎$6
💸 Deposit/Withdrawal Fees	🤷 Variable depending on method
⚖️. Maximum Leverage	⚖️. 1:3000
🤑. Bonuses	💰. 100% Deposit Bonus
❓ Customer Support	🏪. 24/5

Vantage FX

Vantage FX is a large and reputable international broker that welcomes South African clients.

With Vantage FX, beginner and professional traders.

Traders can expect high leverage ratios up to 1:500 that can be used across a wide range of assets.

Vantage FX offers over 40 foreign exchange currency pairs spread across major currencies, minor currencies, and different exotic currencies.

Vantage FX also offers commission-free retail trading accounts that feature competitive spreads.

Vantage FX Pros and Cons

✔ Pros	❌ Cons
Well-regulated broker with authorization through several regulatory entities	There is a high minimum initial deposit required to start trading
Automated trading is supported
Offers a wide range of assets
Offers dedicated customer services
Offers a spread-free ECN retail trading account
Offers leverage up to 1:500

Vantage FX features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 ASIC, FCA, CIMA, SIBL
💵. Minimum deposit from	💰 $200 / 3200 ZAR
⚖️ Average spread from	👉 1.22 pips
📈 Commissions from	📈 $2 / 32 ZAR per round turn
💸 Deposit/Withdrawal Fees	🙅. None
⚖️ Maximum Leverage	⚖️ 1:500
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

AvaTrade

AvaTrade is one of the largest brokers that welcomes forex traders from South Africa.

Avatrade offers a safe and protected trading environment.

AvaTrade offers comprehensive trading solutions to retail traders as well as professional South African clients who use different trading strategies.

AvaTrade offers a wide range of complex instruments spread across several asset classes, including more than 55 currency pairs, commodities, energies, precious metals, vanilla options, cryptocurrencies, and more.

AvaTrade offers the use of powerful third-party trading platforms.

Avatrade is a powerful proprietary trading platform on desktop and mobile trading.

Avatrade Pros and Cons

✔ PROS	❌ CONS
Broad range of tradable instruments	High EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

Avatrade features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 Central Bank of Ireland, MiFID, ASiC, BVI
💵. Minimum deposit from	💰 $100
⚖️ Average spread from	👉 0.9 pips
📈 Commissions from	📈 No commission on Forex
💸 Deposit/Withdrawal Fees	🙅. None
⚖️ Maximum Leverage	⚖️ 1:400
🤑 Bonuses	💰 First Deposit Bonus
❓ Customer Support	🏪 24/5 – multilingual

Blackstone Futures

Blackstone Futures is a popular South African forex broker for beginners with regulation through the Financial Sector Conduct Authority (FSCA) to offer comprehensive trading solutions.

Blackstone Futures is known for its competitive leverage trading conditions that consist of tight average spreads, commission-free trading options.

South African clients do not pay deposit fees or withdrawal fees.

In addition, South African clients can expect access to high leverage ratios up to a maximum of 1:400 that can be applied to forex trading as well as CFD trading across derivative trading instruments.

Blackstone Futures Pros and Cons

✔️ Pros	❌ Cons
Offers a range of trading instruments that can be traded using competitive trading conditions	The spreads that are offered are not the lowest
Provides powerful trading platforms that are available across the web, desktop applications, and mobile platforms	Limited funding options are offered
There is a choice in advanced trading tools and comprehensive trading solutions	There is no cryptocurrency trading
Blackstone Futures is a good broker in terms of educational materials and resources for beginner forex traders	There is a limited selection of tradable markets offered
There is dedicated customer support provided across several channels

Blackstone Futures features

👉 Feature	ℹ️. Information
👮‍♂️ Regulation	👍 FSCA
💵 Minimum deposit from	💰 ZAR R1000
⚖️ Average spread from	👉 2.0 pips
📈 Commissions from	📈 N/A
💸 Deposit/Withdrawal Fees	🤷 N/A
⚖️. Maximum Leverage	⚖️. 1:400
🤑. Bonuses	💰 25%-50% percent of base salary
❓ Customer Support	🏪. between 9:00 – 17:00 (GMT +1)

FOREX.com

FOREX.com is another popular option for retail forex traders in South Africa.

Forex.com offers traders seeking competitive trading conditions and a plethora of trading opportunities.

FOREX.com is a globally recognized trading provider that caters to beginner traders by offering educational tools.

More experienced traders can expect access to advanced charting and technical analysis.

Fundamental analysis, an economic calendar, and transparent market conditions are amongst several other benefits.

Forex.com Pros and Cons

✔ Pros	❌ Cons
One of the best international brokers with multi-regulations	Inactivity fees are charged
Offers a choice in complex instruments along with various trade sizes and instant execution
Commission-free retail accounts are offered along with instant deposits and withdrawals
Powerful trading tools are offered to experienced traders
TradingView provided in addition to other advanced trading tools
An execution scorecard is provided, ensuring a guaranteed execution policy

Forex.com features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MAS
💵. Minimum deposit from	💰 $100 / 1 600 ZAR
⚖️ Average spread from	👉 1.5 pips
📈 Commissions from	📈 $5 / 80 ZAR commission per 100K traded
💸 Deposit/Withdrawal Fees	🙅. Not indicated
⚖️ Maximum Leverage	⚖️ 1:50
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

Skilling

Skilling is another high leverage broker that welcomes South African traders.

Skilling offers more than 70 forex currency pairs that can be traded, spread across major currencies, minors, and exotics that can be traded with leverage up to a maximum of 1:500, with reasonable margin requirements.

In addition to this, Skilling is also known for its competitively low trading costs and trading fees, with tight average spreads that start from 0.7 pips EUR/USD.

Apart from expecting transparent fee schedules, South African traders can also benefit from the fact that deposit fees, withdrawal fees, and inactivity fees are not charged.

Skilling Pros and Cons

✔ Pros	❌ Cons
There are no added broker fees charged	The leverage model is dynamic and subject to change
Features some of the lowest spreads in the industry
Well-regulated and trusted broker with a proven history and good reputation
High maximum leverage provided
Offers traders a trade assistant to help their trading decisions
Traders can use algorithmic trading strategies

Skilling features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 CySEC
💵. Minimum deposit from	💰 $100 / 1600 ZAR
⚖️ Average spread from	👉 0.01 pips
📈 Commissions	📈 FX pairs and Spot Metals
💸 Deposit/Withdrawal Fees	🙅. 12.50 EUR / 208 ZAR
⚖️ Maximum Leverage	⚖️ 1:30
🤑 Bonuses	💰 No
❓ Customer Support	🏪 24/5

FinmaxFX

FinmaxFX is a popular South African broker that provides retail traders access to over 60 currency pairs that can be traded.

FinmaxFX provides traders with a choice between different retail investor accounts, each providing unique and flexible trading conditions to different types of traders.

FinmaxFX charges higher minimum deposits than other high leverage forex brokers, even on entry-level accounts.

Accounts are designed to provide traders unlimited access to some of the best trading conditions possible.

FinmaxFX Pros and Cons

✔ Pros	❌ Cons
High maximum leverage is offered	The social trading network is underdeveloped
Well-regulated by reputable regulatory bodies	There is a high minimum deposit requirement
Offers automated trading through ZuluTrade
There are several trading bonuses offered
Traders can use different forex trading signals
Offers more than 60 tradable forex pairs

FinmaxFX features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👉 IFMRRC, VFSC
💵. Minimum deposit from	💰 $250 / 4000 ZAR
⚖️ Average spread from	👉 3.0 pips
📈 Commissions from	📈 None
💸 Deposit/Withdrawal Fees	🙅. start from 0.9%
⚖️ Maximum Leverage	⚖️ 1:200
🤑 Bonuses	💰 Yes
❓ Customer Support	🏪 24/5

Plus500

Plus500 is one of the best CFD trading brokers in the world that caters to the trading needs and objectives of South African traders.

Plus500 provides access to over 2,000 tradable derivative instruments that are spread across several asset classes, including more than 70 forex currencies, including major pairs, minor pairs, and exotic pairs.

In addition to this, Plus500 offers South African forex traders access to an innovative and powerful proprietary trading platform that can be used.

Plus500 Pros and Cons

✔️ Pros	❌ Cons
Commission-free trading is offered across the range of assets that can be traded	Fixed spreads are not offered
The broker provides market news and in-depth insight into market conditions	There is an inactivity fee charged on dormant accounts
Offers more than 2,000 tradable instruments that can be traded using any type of trading strategy
Provides a range of funding options including bank transfer, credit cards, debit cards, and others
Offers flexible trading conditions and a powerful proprietary trading platform and mobile trading app

Plus500 features

👉 Feature	ℹ️ Information
👮‍♂️ Regulation	👍 FCA, ASIC
💵 Minimum deposit from	💰 ZAR/ R1600
⚖️ Average spread from	👉 0,8 pips
📈 Commissions from	N/A
💸 Deposit/Withdrawal Fees	N/A
⚖️ Maximum Leverage	⚖️. 1:300
🤑 Bonuses	👍 25EUR / ZAR R420
❓ Customer Support	🏪. 24/7

Exness

Exness is a popular name in the South African trading industry, providing some of the best and most competitive leverage trading conditions.

South African traders can use leverage up to 1:2000.

Exness offers retail investor accounts with ultra-low minimum deposit requirements, a choice in trading platforms, and multi-currency trading account types.

There is also negative balance protection applied to trading accounts, and traders can test their trading strategies using demo accounts.

Exness Pros and Cons

✔️ Pros	❌ Cons
Comprehensive trading solutions are offered along with competitive trading conditions	The rollover fees which are charged are not transparent
Offers flexible maximum leverage levels which are suited to any high volume trader who needs flexibility on trade sizes	The variable average spreads are wider than that of other forex brokers
Supports powerful trading platforms with robust charting capabilities, technical indicators, an economic calendar, and more	There is a limited range of trading instruments offered
Provides access to VPS to eligible professional traders
Exness is one of the largest forex brokers in terms of trading volumes, trading solutions, and customer base

Exness features

👉 Feature	ℹ️. Information
👮‍♂️ Regulation	👍 CySEC
💵 Minimum deposit from	💰 $10 / ZAR R160
⚖️ Average spread from	👉 0.0
📈 Commissions from	📈 ‎$0.1 / ZAR R1.60 to $3.50 / ZAR R56.00
💸 Deposit/Withdrawal Fees	🤷 Variable depending on method
⚖️. Maximum Leverage	⚖️. 1:2000
🤑. Bonuses	💰. 10% of Deposit Bonus
❓ Customer Support	🏪. 24/7

Frequently Asked Questions

Depositing with a forex broker is simple. Once you have registered a live account and it has been verified, you can choose between local bank transfers, credit/debit cards, online payment solutions, crypto transfers, or online payment solutions.

Yes, if the market moves against your position, you could lose your entire investment and your account could go into a negative.

You can visit the official website of the market regulator and search for the broker’s license number online.

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

You must consider the margin requirements, commissions and fees, support for trading platforms, and several other factors.

10 Best Forex Brokers in South Africa with ZAR Accounts

10 Best Forex Brokers in SA with ZAR Deposit Accounts

Before choosing a broker, South African traders who wish to engage in the world’s biggest and most liquid market, the foreign exchange market, must examine several factors relating to their forex broker of choice.

Best forex brokers in South Africa

Forex brokers offer zar trading accounts that allow South African traders to trade in one of the most liquid financial markets in the world. The forex market is constantly shifting, with prices changing second by second, making it essential for traders to have a broker they can trust to provide up-to-date information and execute trades quickly. For South African forex traders, it is not only important to have a safe and stable trading environment, but also to keep their funds in safe and local zar accounts. The best forex brokers in South Africa with zar accounts ensure funds are held in a completely segregated third-party bank account.

Forex brokers with ZAR accounts

Traders must consider trading expenses and broker fees in addition to verifying that the forex broker has the required ODP regulation and authorisation. Another factor to examine is if the forex broker provides a ZAR Account, which allows South African traders to deposit and withdraw money without having to worry about currency conversion costs. South African traders may be subject to specific trading fees while trading forex, according to the currency pairs they want to trade. When dealing with a South African broker these costs may be lowered by utilizing a ZAR Account, which uses the South African Rand as the foundation currency. Beginner traders may feel overwhelmed by the sheer quantity of alternatives available to them. The process of finding the ideal forex broker that provides a ZAR account may be arduous and time-consuming for experienced traders.

As a result, we’ve compiled a thorough list of South African forex brokers that provide ZAR deposit accounts as well as reasonable spreads, a diverse choice of trading instruments, and a variety of other features.

Khwezi Trade

Khwezi Trade is a South African-based, FSCA-regulated forex broker and authorized ODP that has been in operation since 2013. Khwezi Trade offers a wide range of financial markets as well as competitive trading conditions, a suitable maximum leverage ratio, and a reliable trading platform. Khwezi Trade offers the best order execution quality, ensuring that South African clients’ orders are fulfilled at some of the best available rates with little slippage. South African traders have the option of registering a live trading account with ZAR as the base currency in addition to making ZAR deposits into their retail investor account.

Khwezi Trade Pros and Cons

Pros	Cons
Trusted forex broker with regulation through the Financial Sector Conduct Authority	No crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensing	There are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South Africa	US 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

Feature	Information
Regulation	FSCA
Minimum deposit from	ZAR500
Average spread from	0,6 pips
Commissions from	N/A
Deposit/Withdrawal Fees	N/A
Maximum Leverage	. 1:400
Bonuses	30%
Customer Support	. 24/5

Plus500

Plus500 is a well-known name in the CFD trading sector, and the broker caters to traders from all over the world, whether they are beginners or seasoned traders and investors. Plus500 offers over 2,000 trading instruments across many markets, including currency pairs, precious metals, commodities, cryptocurrencies, and more. South African traders can register a ZAR denominated account, an Islamic or swap-free account for Muslim traders, and a virtual trading account, which is funded with virtual money, which they can use before risking real money in live market conditions where the exchange rate between foreign exchange major, minor, and exotic pairs can change drastically. Plus500 also allows for social trading and provides a choice of trading opportunities. Traders in South Africa may use debit cards, credit cards, bank transfers, and a variety of electronic payment systems to finance their transactions.

Plus500 Pros and Cons

Pros	Cons
Commission-free trading is offered across the range of assets that can be traded	Fixed spreads are not offered
The broker provides market news and in-depth insight into market conditions	There is an inactivity fee charged on dormant accounts
Offers more than 2,000 tradable instruments that can be traded using any type of trading strategy
Provides a range of funding options including bank transfer, credit cards, debit cards, and others
Offers flexible trading conditions and a powerful proprietary trading platform and mobile trading app

Plus500 features

Feature	Information
Regulation	FCA, ASIC
Minimum deposit from	ZAR/ R1600
Average spread from	0,8 pips
Commissions from	N/A
Deposit/Withdrawal Fees	N/A
Maximum Leverage	. 1:300
Bonuses	25EUR / ZAR R420
Customer Support	. 24/7

Exness

When it comes to forex brokers, Exness is one of the best options for traders in South Africa. Although Exness offers a limited number of products, it does provide retail investor accounts with a range of features and a choice in base account currencies as well as deposit currencies, including the South African Rand. Exness provides a competitive trading environment that meets the aims and needs of all types of traders. Exness features a configurable maximum leverage ratio, minimal spreads, and competitive commissions.

Exness Pros and Cons

Pros	Cons
Comprehensive trading solutions are offered along with competitive trading conditions	The rollover fees which are charged are not transparent
Offers flexible maximum leverage levels which are suited to any high volume trader who needs flexibility on trade sizes	The variable average spreads are wider than that of other forex brokers
Supports powerful trading platforms with robust charting capabilities, technical indicators, an economic calendar, and more	There is a limited range of trading instruments offered
Provides access to VPS to eligible professional traders
Exness is one of the largest forex brokers in terms of trading volumes, trading solutions, and customer base

Exness features

Feature	. Information
Regulation	CySEC
Minimum deposit from	$10 / ZAR R160
Average spread from	0.0
Commissions from	‎$0.1 / ZAR R1.60 to $3.50 / ZAR R56.00
Deposit/Withdrawal Fees	Variable depending on method
. Maximum Leverage	. 1:2000
. Bonuses	. 10% of Deposit Bonus
Customer Support	. 24/7

XM Group

XM Group is a renowned global online broker that has a high trust score, known for the comprehensive and flexible trading solutions that it offers to retail traders in South Africa. To deliver the best trading experience, XM Group offers a selection of variable spread accounts, each with its own set of trading conditions that appeal to both beginner and experienced forex traders. Using XM Group’s powerful forex trading platforms, traders may trade a broad range of markets and use any trading approach or style. Traders may also make use of XM Group’s vast automated forex trading tools, which can help them get a competitive edge in their trading.

XM Group Pros and Cons

Pros	Cons
Low minimum deposit	Inactivity fee charged after 90 days on live accounts
Comprehensive educational offering	Limited product portfolio
Streamlined account opening process

XM Group features

Feature	Information
Regulation	IFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from	$5
Average spread from	0.1 pips
Commissions from	$3.5 commission per $100 000 traded
. Deposit/Withdrawal Fees	None
Maximum Leverage	1:30
Bonuses	$30 Trading Bonus
Customer Support	24/5

Blackstone Futures

Blackstone Futures is a South African-based online broker that caters to forex traders of all experience levels despite their trading needs. Blackstone Futures is an FSCA-regulated forex broker partnered with Trade Nation, which grants it an additional high level of trustworthiness. Blackstone Futures is recognized for delivering all-encompassing trading solutions, low commission rates, and expert trading tools to South African Forex traders, helping them refine their trading strategies so that they can make informed trading decisions. Additionally, forex traders who work with this broker may anticipate regulatory protection, sufficient risk warnings, and a fair, secure trading environment in which retail forex traders can thrive.

Blackstone Futures Pros and Cons

Pros	Cons
Offers a range of trading instruments that can be traded using competitive trading conditions	The spreads that are offered are not the lowest
Provides powerful trading platforms that are available across the web, desktop applications, and mobile platforms	Limited funding options are offered
There is a choice in advanced trading tools and comprehensive trading solutions	There is no cryptocurrency trading
Blackstone Futures is a good broker in terms of educational materials and resources for beginner forex traders	There is a limited selection of tradable markets offered
There is dedicated customer support provided across several channels

Blackstone Futures features

Feature	. Information
Regulation	FSCA
Minimum deposit from	ZAR R1000
Average spread from	2.0 pips
Commissions from	N/A
Deposit/Withdrawal Fees	N/A
. Maximum Leverage	. 1:400
. Bonuses	25%-50% percent of base salary
Customer Support	. between 9:00 – 17:00 (GMT +1)

SuperForex

In terms of fees, a ZAR base currency account, transparent trading costs, a comprehensive selection of sophisticated trading tools, some of the lowest spreads, a variety of trading products, and more, SuperForex is another online broker that traders can consider. Traders from South Africa who use SuperForex can anticipate a variety of deposit and withdrawal options, as well as a variety of account options and extensive CFD trading solutions.

SuperForex Pros and Cons

Pros	Cons
Traders have a choice between South African trading accounts and the option of ZAR bank deposits or deposits using credit cards, debit cards, etc	MetaTrader 5 is not offered
There are low minimum deposit requirements when registering an account, giving traders access to a range of assets
A range of educational tools is provided to inexperienced traders who require guidance
Multiple trading tools are provided to professional traders
Rapid trade execution speeds are ensured
Flexible funding methods are offered to South African clients

SuperForex features

Feature	. Information
Regulation	IFSC
Minimum deposit from	$1 / ZAR R16
Average spread from	2.0 pips
Commissions from	N/A
Deposit/Withdrawal Fees	$5 / ZAR R80
. Maximum Leverage	. 1:2000
. Bonuses	Welcome bonus
Customer Support	. 24/5

FxPro

FxPro is a popular choice for South African traders who want to trade with their ZAR-funded retail investor account. FxPro is known for offering some of the industry’s lowest spreads, as well as a wide range of trading choices, including major and minor currencies, exotics, and several other complex instruments.

FxPro is a viable option for South African traders who want to participate in international financial markets. FxPro also offers a selection of retail investor accounts, as well as advanced trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. FxPro also offers a specialized trading platform that enables Android and iOS consumers with a broad variety of mobile trading opportunities.

FxPro Pros and Cons

Pros	Cons
Mobile trading platform offered for Android and iOS mobile traders	Managed accounts are not available
VPS is provided through Beeksfx to ensure that active traders remain connected to financial markets	Social 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

Feature	Information
Regulation	FSCA, CySEC
Minimum deposit from	$100 / ZAR R1600
Average spread from	0.37 pips
Commissions from	$45 / ZAR R720 per million USD traded
. Deposit/Withdrawal Fees	None
Maximum Leverage	1:30
Bonuses	N/A
Customer Support	24/7

HotForex

Due to its regulation by the Financial Sector Conduct Authority, HotForex is one of the most popular solutions for South African clients who want to participate in global financial markets. In addition to a broad selection of trading marketplaces, HotForex offers a variety of retail investor accounts and attractive trading conditions. HotForex provides retail investor accounts, minimal minimum deposit requirements, negative balance protection for retail accounts, and a robust MetaTrader forex trading platform. Professional traders that want low spreads, fast execution, technical and fundamental research, an economic calendar, and access to some of the greatest liquidity providers in the business may use HotForex.

HotForex Pros and Cons

Pros	Cons
Commission-free trading offered along with a ZAR account	Fixed 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

Feature	Information
Regulation	CySEC, FCA, DFSA, FSA, FSCA, CNMV, BaFin
Minimum deposit from	$5 / ZAR R80
Average spread from	0.0 pips
Commissions from	$3 / ZAR R48
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	Yes
Customer Support	24/5

Markets.com

Markets.com is a licensed international forex broker that caters to South African retail traders. With minimal spreads and a wide range of assets to trade, Markets.com has its South African clients covered in every aspect. Markets.com is a prominent forex broker for South African traders of all levels, providing traders access to global financial markets through powerful forex trading platforms.

Markets.com Pros and Cons

Pros	Cons
Markets.com is a broker with a high trust score that offers ZAR as the base currency and deposit currency	A high minimum deposit is required when traders register a live account with Markets.com
User-friendly trading technology supported with a proprietary mobile app	An inactivity fee is charged on dormant accounts
A tight average spread is offered on forex major pairs
Commission-free trading is provided
There are no deposit fees or withdrawal fees charged
Caters for all trading styles and trading strategies

Markets.com features

Feature	Information
Regulation	FSCA
Minimum deposit from	$100 / ZAR R1 600
Average spread from	1.9 pips
Commissions from	$0 / ZAR R0
Deposit/Withdrawal Fees	None
Maximum Leverage	1:300
Bonuses	Yes
Customer Support	24/7

FXCM

FXCM is another well-known international broker that caters to South African traders, providing them with a comprehensive set of trading tools and competitive average spreads. Client money is safeguarded through segregated accounts which are kept with top-tier financial institutions and client funds are not utilized for operational needs.

FXCM Pros and Cons

Pros	Cons
FXCM is a member of the FSCS compensation scheme, providing traders investor protection	The 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 features

Feature	Information
Regulation	FCA, FSCA, ASIC
Minimum deposit from	$50 / ZAR R800
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
Maximum Leverage	1:400
Bonuses	Yes
Customer Support	24/5

10 Best Forex Brokers in South Africa

To make the selection easier, we have gathered information on 10 of the best forex brokers who have offices based in South Africa.

Features

Features

Features

Features

Features

Features

Features

Features

Features

Features

Frequently Asked Questions

10 Best Forex Brokers in South Africa with Low Minimum Deposit

While many forex brokers require high minimum deposits, the following forex brokers in South Africa offer low minimum deposits.

Khwezi Trade

Khwezi Trade Pros and Cons

Khwezi Trade features

FOREX.com

FOREX.com Pros and Cons

FOREX.com features

XM

XM Pros and Cons

XM features

FXCM

FXCM Pros and Cons

FXCM features

IQ Option

IQ Option Pros and Cons

IQ Option features

RoboForex

RoboForex Pros and Cons

RoboForex features

Capital.com

Capital.com Pros and Cons

Capital.com features

Alpari

Alpari Pros and Cons

Alpari features

FXTM

FXTM Pros and Cons

FXTM features

FXDD

FXDD Pros and Cons

FXDD features

Frequently Asked Questions

Further Reading

10 Best Forex Brokers in South Africa with High Leverage

Therefore, we have compiled a comprehensive list that features some of the best high leverage forex brokers in South Africa.

Khwezi Trade

Khwezi Trade Pros and Cons

Khwezi Trade features

FBS

FBS Pros and Cons

FBS features

Vantage FX

Vantage FX Pros and Cons

Vantage FX features

AvaTrade

Avatrade Pros and Cons

Avatrade features

Blackstone Futures

Blackstone Futures Pros and Cons

Blackstone Futures features

FOREX.com

Forex.com Pros and Cons

Forex.com features

Skilling

Skilling Pros and Cons

Skilling features

FinmaxFX

FinmaxFX Pros and Cons

FinmaxFX features

Plus500

Plus500 Pros and Cons

Plus500 features

Exness

Exness Pros and Cons

Exness features

Frequently Asked Questions