Forex trading is exciting for any beginner in South Africa. There are over 128 forex pairs that can be traded. But how do you find the best pairs if you’re a beginner?
Our guide explores the best options for those just starting, revealing the 7 Best Currency Pairs to Trade for Beginners.
In this in-depth guide, you’ll learn:
- What are Currency Pairs?
- The 7 Best Currency Pairs to Trade Right Now
- Cheapest Forex Pairs to Trade in South Africa
- Which Currency Pair is Most Profitable in Forex?
- The Best Forex Pairs to Trade During Each Session
- Best Currency Pairs to Trade with a Small Account
10 Best Forex Brokers in South Africa for 2025
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Best Currency Pairs to Trade for Beginners – A Comparison
| 🪙 Currency Pair | 📈Liquidity | 📉Volatility | 📍Key Considerations |
| 🥇USD/ZAR | Moderate | High | Political and commodity-driven fluctuations |
| 🥈EUR/USD | High | Moderate | Tight spreads, widely analyzed |
| 🥉GBP/USD | High | High | Requires constant monitoring |
| 🏅USD/JPY | High | Low | Influenced by central bank policies |
| 🥇USD/CAD | High | Moderate | Oil prices impact movement |
| 🥈AUD/USD | High | Moderate | Correlation with gold, iron ore |
| 🥉NZD/USD | Moderate | Moderate | Affected by dairy exports and weather |
What are Currency Pairs?
When trading the forex market, participants deal with two different currencies as currency pairs that face each other for exchange.
A currency pair works as a pricing scale in which currencies evaluate their worth against each other.
When you engage in USD/ZAR, you guess the direction of movement between the US dollar and South African rand.
When trading currencies, the base position belongs to USD, followed by ZAR, which serves as the quote unit.
7 Best Currency Pairs to Trade for Beginners (2025)
- ☑️USD/ZAR – U.S. Dollar (USD / South African Rand (ZAR).
- ☑️EUR/USD – Euro (EUR) / Dollar (USD).
- ☑️GBP/USD – British Pound Sterling (GBP) / U.S. Dollar (USD).
- ☑️USD/JPY – U.S. Dollar (USD) / Japanese Yen (JPY).
- ☑️USD/CAD – U.S. Dollar (USD) / Canadian Dollar (CAD).
- ☑️AUD/USD – Australian Dollar (AUD) / United States Dollar (USD).
- ☑️NZD/USD – New Zealand Dollar (NZD) / United States Dollar (USD).
1. USD/ZAR
The USD/ZAR is significant for South African traders as it directly involves the local currency. It’s a familiar pair with easier access to relevant economic information.
The USD/ZAR is known for its liquidity. USD/ZAR is influenced by commodity prices, especially gold and platinum, both major exports of South Africa.
Features
| 🧾 Feature | 📌 Details |
| 🌍 Region | North America / Africa |
| 📈 Volatility | High (can be unpredictable) |
| 🕰️ Best Session | London & New York (9:00 AM – 6:00 PM SAST) |
| 🎯 Suitable For | Beginners in South Africa seeking local exposure |
| ⚠️ Risk Level | Moderate to High due to emerging market dynamics |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Familiarity with local economic factors | Susceptibility to political instability |
| Potential for significant profits | Exposure to global commodity price fluctuations |
| High liquidity | High volatility |
| Access to local news and data | Wider spreads compared to major pairs |
2. EUR/USD
The EUR/USD exposes South Africans to international markets, with movements influenced by economic indicators from both the Eurozone and the United States.
Features
| 🧾 Feature | 📌 Details |
| 🌍 Region | Europe / North America |
| 📈 Volatility | Moderate (high liquidity) |
| 🕰️ Best Session | London/New York Overlap (3:00 PM – 6:00 PM SAST) |
| 🎯 Suitable For | All beginners – most traded pair |
| ⚠️ Risk Level | Low to Moderate (stable price behavior) |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Most traded currency pair | High volatility during major news events |
| Tight spreads | Heavily influenced by central bank policies (ECB & Fed) |
| Strong market analysis availability | Can be unpredictable due to geopolitical events |
| Lower slippage due to high liquidity | Lower interest rate differential (less carry trade potential) |
| Widely available across all brokers | Strong correlations with other major pairs, limiting diversification |
3. GBP/USD
GBP/USD is one of the most volatile forex pairs that offer high profit potential. South Africans can benefit from trading GBP/USD by staying updated on U.S. and UK developments.
Traders must also understand how such developments will affect the pair’s movements.
Features
| 🧾 Feature | 📌 Details |
| 🌍 Region | UK / North America |
| 📈 Volatility | Moderate to High |
| 🕰️ Best Session | London & New York Sessions |
| 🎯 Suitable For | Beginners with some risk tolerance |
| ⚠️ Risk Level | Medium (sensitive to UK news) |
Pros and Cons
| ✅ Pros | ❌ Cons |
| High liquidity | High volatility, especially during news events |
| Tight spreads | Heavily influenced by UK & US economic data |
| Good for short-term and long-term traders | Brexit-related uncertainties can impact the pair |
| Available on most forex brokers | Strong price fluctuations can lead to stop-loss hits |
| Correlates with EUR/USD for trend insights | Sensitive to Bank of England (BoE) and Federal Reserve policies |
4. USD/JPY
USD/JPY is a liquid pair with low spreads (depending on your broker).
USD/JPY exposes South Africans to the Asian Markets, where economic policies from the Bank of Japan and the Federal Reserve influence movements.
Features
| 🧾 Feature | 📌 Details |
| 🌍 Region | North America / Asia |
| 📈 Volatility | Low to Moderate |
| 🕰️ Best Session | Asian & U.S. Sessions (2:00 AM – 11:00 AM & 3:00 PM – 12:00 AM SAST) |
| 🎯 Suitable For | Beginners seeking stable movement |
| ⚠️ Risk Level | Low (safe haven behavior) |
Pros and Cons
| ✅ Pros | ❌ Cons |
| High liquidity | Sensitive to geopolitical tensions in Asia |
| Tight spreads | Can be volatile during Japan's economic reports |
| Popular for carry trades | Affected by U.S. Federal Reserve policies |
| Good for trend-following strategies | Risk of sudden price swings due to market sentiment |
| Available on most forex brokers | Fluctuates with global risk sentiment and market stability |
5. USD/CAD
Canada’s economy is heavily influenced by its natural resources, particularly oil exports.
USD/CAD exposes South Africans to commodity-driven market dynamics.
Features
| 🧾 Feature | 📌 Details |
| 🌍 Region | North America |
| 📈 Volatility | Moderate (commodity-linked) |
| 🕰️ Best Session | New York Session (3:00 PM – 12:00 AM SAST) |
| 🎯 Suitable For | Beginners trading oil-sensitive currencies |
| ⚠️ Risk Level | Medium (oil price influence) |
Pros and Cons
| ✅ Pros | ❌ Cons |
| High liquidity, widely traded in North America | Sensitive to global oil price fluctuations |
| Tight spreads, especially during active trading | Can have wider spreads in low liquidity hours |
| Correlated with global oil market, Canadian exports | Sensitive to U.S. Federal Reserve and Bank of Canada policy |
6. AUD/USD
AUD/USD is influenced by commodity prices, especially gold and iron ore, as Australia is a major exporter of these resources.
South African traders might find AUD/USD appealing due to similar economic structures, as South Africa and Australia are large-scale commodity exporters.
Features
| 🧾 Feature | 📌 Details |
| 🌍 Region | Australia / North America |
| 📈 Volatility | Moderate |
| 🕰️ Best Session | Asian Session (2:00 AM – 11:00 AM SAST) |
| 🎯 Suitable For | Beginners trading during early hours |
| ⚠️ Risk Level | Low to Medium (commodity-driven) |
Pros and Cons
| ✅ Pros | ❌ Cons |
| High liquidity | Sensitive to commodity price changes |
| Tight spreads | Can be volatile during Australian economic reports |
| Influenced by global risk sentiment | Affected by U.S. Federal Reserve policies |
| Popular for carry trades | Not as volatile as some other major currency pairs |
7. NZD/USD
New Zealand’s economy is significantly influenced by its agricultural exports, especially dairy products.
NZD/USD exposes South Africans to a market driven by commodities, albeit different from those influencing the ZAR.
Features
| 🧾 Feature | 📌 Details |
| 🌍 Region | New Zealand / North America |
| 📈 Volatility | Moderate |
| 🕰️ Best Session | Asian Session (2:00 AM – 11:00 AM SAST) |
| 🎯 Suitable For | Beginners seeking low-spread pairs |
| ⚠️ Risk Level | Low to Medium |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Clear technical patterns | Impact from New Zealand’s Economic Data |
| Potential for diversification | Sensitivity to global risk sentiment |
| Opportunities during South African trading hours | Lower liquidity compared to major pairs |
| Influenced by global agricultural trends | Vulnerability to weather-related disruptions |
The Best Currency to Trade Right Now
In 2025, South African traders face a complex global economic landscape influenced by recent geopolitical tensions and policy shifts.
The United States has imposed sanctions on South Africa, including halting financial aid and threatening to revoke tariff-free market access under the African Growth and Opportunity Act (Agoa).
These actions have increased volatility in the USD/ZAR currency pair, making it a focal point for traders.
Benefits:
- Familiarity: Trading a pair that includes your home currency allows you to leverage your knowledge of local economic events and news, making it easier to anticipate market movements.
- High Volatility: The USD/ZAR pair offers significant price movements, presenting opportunities for substantial gains.
- Market Accessibility: Active trading sessions align with South African business hours, facilitating timely market participation.
- Economic Indicators: Regular economic data releases from both countries provide traders with actionable insights.
Key Considerations:
- Political Climate: Ongoing geopolitical tensions can lead to unpredictable market reactions.
- Liquidity Concerns: While volatility can be advantageous, it may also result in wider spreads and potential slippage.
- Risk Management: Implementing robust risk management strategies is essential to navigate potential market downturns.
Given the current economic and political environment, the USD/ZAR currency pair stands out as a compelling option for South African beginners who want to capitalize on market volatility but also want something they’re familiar with.
Cheapest Forex Pairs to Trade in South Africa
- To maximize your profitability as a South African trader, you must focus on affordable currency pairs, given the exchange rate between the South African Rand and others like the EUR, USD, GBP, etc.
- Affordability in forex can be determined by evaluating the spreads (the difference between the buy and sell price of a currency pair) and the commissions (a flat fee you pay per trade The lower the spreads, the more likely you are to pay a commission fee, and vice versa.
- In 2025, several currency pairs are cost-effective options for South African traders.
- Below is a table detailing the average spreads for selected currency pairs and their approximate costs translated into South African Rand (ZAR), based on a standard lot size of 100,000 units. Please note that spreads can vary depending on the broker and market conditions.
| 🌍Currency Pair | 💱Current Exchange Rate (2025) | 📉Average Spread (Pips) | 🇿🇦Approximate Cost in ZAR | 💡Why It’s the Cheapest Right Now |
| 💵EUR/USD | 1.05 USD | 0.6 pips | R110.52 | High liquidity leads to tight spreads, reducing trading costs |
| 💵GBP/USD | 1.26 USD | 0.8 pips | R147.36 | Significant trading volume ensures competitive spreads |
| 💵USD/CHF | 0.90 Swiss Franc | 1.5 pips | R276.30 | Stability of CHF maintains steady demand and narrow spreads |
| 💵AUD/USD | 0.64 USD | 0.7 pips | R128.94 | Commodity-driven stability results in consistent and low spreads |
| 💵USD/ZAR | 18.42 ZAR | 20 pips | R200 | Direct involvement of ZAR eliminates currency conversion fees |
Here’s a simple calculation to help you determine your trading costs (commission fees depend on your broker and will need to be calculated once you get trading costs in ZAR):
- Spread Cost in ZAR = (Pip Value per Standard Lot) × (Average Spread in Pips) × (Exchange Rate to ZAR)
Which Currency Pair is Most Profitable in Forex?
In 2025, the EUR/USD pair is the most profitable for South African traders. Its high liquidity often results in spreads from 0.0 to 0.1 pips (depending on the broker), which can minimize trading costs for beginners.
There are ample opportunities for profiting as the average daily volatility is around 80 pips. Lastly, EUR/USD is available as a tradable CFD instrument from most South African brokers, and they provide in-depth analysis and resources for beginners to study the pair and create various strategies.
The Best Forex Pairs to Trade During Each Session
| 🕒 Trading Session | 🕰️ Time (SAST) | 💱 Best Pairs | 🔍 Why Trade These Pairs |
| 🌏 Asian Session | 2:00 AM – 11:00 AM | 🇺🇸/🇯🇵 USD/JPY 🇦🇺/🇯🇵 AUD/JPY | Active Tokyo hours. Moves with Japan & Australia’s economic news. |
| 💼 London Session | 9:00 AM – 6:00 PM | 🇪🇺/🇺🇸 EUR/USD 🇬🇧/🇺🇸 GBP/USD | High liquidity & volatility. Core European financial markets are active. |
| 🗽 New York Session | 3:00 PM – 12:00 AM | 🇺🇸/🇨🇦 USD/CAD 🇬🇧/🇺🇸 GBP/USD | U.S. and Canadian data releases. Strong U.S. dollar movement. |
| 🔄 London/New York Overlap | 3:00 PM – 6:00 PM | 🇪🇺/🇺🇸 EUR/USD 🇺🇸/🇨🇭 USD/CHF | Peak market liquidity. Best time for volatility and quick trades. |
Best Currency Pairs to Trade with a Small Account
A small forex account is a trading account with limited capital, starting with minimal deposits.
If you want to start trading with a lower minimum deposit, you must choose forex pairs with low spreads and manageable volatility.
- EUR/USD: Ideal due to its high liquidity and tight spreads.
- USD/JPY: Known for low spreads and stable movements, providing predictable trading opportunities.
- AUD/USD: Features relatively low spreads and is influenced by commodity markets, offering diversification.
Best Currency Pairs to Trade in The Morning
The forex market’s morning hours in South Africa (9:00 AM to 12:00 PM SAST) coincide with the opening of the London session, known for high liquidity and volatility.
This overlap offers traders opportunities to engage with active markets, which can lead to more favorable trading conditions. Here are the top three currencies for morning trading:
- EUR/USD: High liquidity and tight spreads during the London session.
- GBP/USD: Increased volatility with the UK market opening.
- USD/JPY: Active trading as European markets influence currency movements.
Best Currency Pairs to Trade at Night
Night trading in South Africa (9:00 PM to 5:00 AM SAST) aligns with the Asian session, where market activity is lower than in the London and New York sessions. Despite this, some currency pairs show increased activity, offering some trading opportunities to South Africans. These are:
- AUD/JPY: Active due to economic activities in Australia and Japan.
- NZD/USD: Influenced by economic developments in New Zealand and the U.S.
- USD/JPY: Continues to show movement with ongoing activity in the Japanese market.
Conclusion
Beginner traders in South Africa must choose pairs that balance opportunity with risk.
Some forex pairs have higher volatility, while others have tighter spreads. Liquidity, trading hours, and market influences all play a role in choosing the best pair.
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Frequently Asked Questions
Why should South African traders concentrate on USD/ZAR?
USD/ZAR is directly tied to the local economy and has great liquidity, making it an excellent choice for beginners
How do beginners start trading forex in South Africa?
Beginners in South Africa should choose a reputable local broker with a low minimum deposit, ZAR deposit and withdrawal options, local customer support, and a good reputation.
Which currency pairings have the tightest spreads for beginners?
EUR/USD and USD/JPY have tight spreads, making them excellent for beginners. Low spreads decrease trading expenses, helping beginners to manage their investments better.
What are the most commonly traded currency pairs in South Africa?
South Africa’s most traded currency pairings are USD/ZAR, EUR/USD, and GBP/USD.
What are the best forex trading apps for beginners in South Africa?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are popular because they feature user-friendly interfaces and several tools to help traders with market analysis.
Who are the best forex brokers in South Africa?
Exness, FBS, AvaTrade, Tickmill, XM, and HFM are among the best. These brokers charge competitively low spreads, offer reliable trading platforms, and provide local support to beginners.
What are the best currency pairs that beginners should consider?
For beginners, EUR/USD, USD/JPY, and GBP/USD are great. They have ample market data to help with trading decisions and strong liquidity with tighter spreads.
