All Share (J203) = 88 568
Rand / Dollar = 18.57
Rand / Pound = 23.38
Rand / Euro = 19.38
Gold (usd/oz) = 2 935.99
Platinum (usd/oz) = 973.86
Brent (usd/barrel) = 76.57
Trade +10,000 CFDs with Tight Raw Spreads. – Trade Now!

7 Best Currency Pairs to Trade for Beginners

 

Best Currency Pairs for Beginners

 

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, the 7 Best Currency Pairs to Trade for Beginners revealed.

 

Here’s what you can expect from our guide:

  • The 7 Best Currency Pairs to Trade Right Now – Side-by-Side Comparison
  • What are Currency Pairs?
  • The 7 Best Currency Pairs to Trade Right Now
  • The Best Currency 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
  • Best Currency Pairs to Trade in The Morning
  • Best Currency Pairs to Trade at Night
  • Our Final Thoughts
  • Beginner Currency Pairs FAQ

 

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, CySEC, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

CySEC, FCA, FSA, FSCA

$100

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

CySEC, ASIC, FSA, BVI, FSCA

$25

#7

ASIC, CySEC, FSA, SCB

$200

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#9

FCA, CySEC, FSCA, SCB

$100

#10

FSCA, FSC, ASIC, CySEC, DFSA

$5

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.0/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.5/5

User Score

#10

4.9/5

User Score

 

Best Currency Pairs to Trade for Beginners – A Comparison

🪙 Currency Pair📈Liquidity📉Volatility📍Key Considerations
🥇USD/ZARModerateHighPolitical and commodity-driven fluctuations
🥈EUR/USDHighModerateTight spreads,
widely analyzed
🥉GBP/USDHighHighRequires constant monitoring
🏅USD/JPYHighLowInfluenced by central bank policies
🥇USD/CADHighModerateOil prices impact movement
🥈AUD/USDHighModerateCorrelation with gold, iron ore
🥉NZD/USDModerateModerateAffected 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.

When prices increase the base currency gains strength while price decreases make the base currency lose its value.

South African traders maintain regular attention on pairs USD/ZAR or EUR/ZAR since daily global and local events drive their price directions.

 

7 Best Currency Pairs to Trade for Beginners (2025)

 

  1. USD/ZAR – U.S. Dollar (USD / South African Rand (ZAR).
  2. EUR/USD – Euro (EUR) / Dollar (USD).
  3. GBP/USD – British Pound Sterling (GBP) / U.S. Dollar (USD).
  4. USD/JPY – U.S. Dollar (USD) / Japanese Yen (JPY).
  5. USD/CAD – U.S. Dollar (USD) / Canadian Dollar (CAD).
  6. AUD/USD – Australian Dollar (AUD) / United States Dollar (USD).
  7. NZD/USD – New Zealand Dollar (NZD) / United States Dollar (USD).

 

1. USD/ZAR

 

Overview of 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.

 

USD / ZAR

 

Best Strategies for USD/ZAR

  • Trend Following
  • News Trading
  • Carry Trade
  • Range Trading
  • Scalping

 

USD / ZAR

 

Pros and Cons

✅ Pros❌ Cons
Familiarity with local economic factorsSusceptibility to political instability
Potential for significant profitsExposure to global commodity price fluctuations
High liquidityHigh volatility
Access to local news and dataWider spreads compared to major pairs

 

2. EUR/USD

 

Overview of 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.

 

EUR / USD

 

Best Strategies for EUR/USD

  • Economic Indicator Analysis
  • Technical Analysis
  • Swing Trading
  • Breakout Trading
  • Position Trading

 

EUR / USD

 

Pros and Cons

✅ Pros❌ Cons
Most traded currency pairHigh volatility during major news events
Tight spreadsHeavily influenced by central bank policies (ECB & Fed)
Strong market analysis availabilityCan be unpredictable due to geopolitical events
Lower slippage due to high liquidityLower interest rate differential (less carry trade potential)
Widely available across all brokersStrong correlations with other major pairs,
limiting diversification

 

3. GBP/USD

 

Overview of 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.

 

GBP / USD

 

Best Strategies for GBP/USD

  • Volatility Trading
  • Fundamental Analysis
  • Day Trading
  • Momentum Trading
  • Hedging

 

GBP / USD

 

Pros and Cons

✅ Pros❌ Cons
High liquidity High volatility,
especially during news events
Tight spreadsHeavily influenced by UK & US economic data
Good for short-term and long-term tradersBrexit-related uncertainties can impact the pair
Available on most forex brokersStrong price fluctuations can lead to stop-loss hits
Correlates with EUR/USD for trend insightsSensitive to Bank of England (BoE) and Federal Reserve policies

 

4. USD/JPY

 

Overview of 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.

 

USD / JPY

 

Best Strategies for USD/JPY

  • Interest Rate Differentials
  • Risk Sentiment Analysis
  • Technical Charting
  • Economic News Monitoring
  • Algorithmic Trading

 

USD / JPY

 

Pros and Cons

✅ Pros❌ Cons
High liquidity Sensitive to geopolitical tensions in Asia
Tight spreadsCan be volatile during Japan's economic reports
Popular for carry trades Affected by U.S. Federal Reserve policies
Good for trend-following strategiesRisk of sudden price swings due to market sentiment
Available on most forex brokersFluctuates with global risk sentiment and market stability

 

5. USD/CAD

 

Overview of 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.

 

USD / CAD

 

Best Strategies for USD/CAD

  • Commodity Price Correlation
  • Interest Rate Analysis
  • Economic Indicator Tracking
  • Technical Analysis Tools
  • Risk Sentiment Assessment

 

USD / CAD

 

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

 

Overview of 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.

 

AUD / USD

 

Best Strategies for AUD/USD

  • Commodity Price Monitoring
  • Interest Rate Analysis
  • Asian Market Session Trading
  • Economic Indicator Tracking
  • Technical Analysis Tools

 

AUD USD

 

Pros and Cons

✅ Pros❌ Cons
High liquiditySensitive to commodity price changes
Tight spreadsCan be volatile during Australian economic reports
Influenced by global risk sentimentAffected by U.S. Federal Reserve policies
Popular for carry trades Not as volatile as some other major currency pairs

 

7. NZD/USD

 

Overview of 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.

 

NZD / USD

 

Best Strategies for NZD/USD

  • Agricultural Commodity Tracking: Monitor global dairy prices and agricultural trends, as they can affect the NZD’s value.
  • Interest Rate Differentials: Analyse the interest rate policies of the Reserve Bank of New Zealand and the U.S. Federal Reserve to predict currency movements.
  • Risk Sentiment Analysis: The NZD is often considered a risk-sensitive currency; thus, global risk appetite can influence its strength.
  • Weather Pattern Monitoring: Adverse weather conditions in New Zealand can impact agricultural output, affecting the NZD.
  • Technical Chart Patterns: Employ tools like the Relative Strength Index (RSI) and Fibonacci retracements to identify trading opportunities.

 

NZD / USD

 

Pros and Cons

✅ Pros❌ Cons
Clear technical patternsImpact from New Zealand’s Economic Data
Potential for diversificationSensitivity to global risk sentiment
Opportunities during South African trading hoursLower liquidity compared to major pairs
Influenced by global agricultural trendsVulnerability 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 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/USD1.05 USD0.6 pipsR110.52High liquidity leads to tight spreads,
reducing trading costs
💵GBP/USD1.26 USD0.8 pipsR147.36Significant trading volume ensures competitive spreads
💵USD/CHF0.90 Swiss Franc1.5 pipsR276.30Stability of CHF maintains steady demand and narrow spreads
💵AUD/USD0.64 USD0.7 pipsR128.94Commodity-driven stability results in consistent and low spreads
💵USD/ZAR18.42 ZAR20 pipsR200Direct 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

Understanding the optimal currency pairs during each session can enhance your trading strategy. Here’s a guide according to South African Standard Time:

Asian Session (2:00 AM – 11:00 AM SAST):

  • USD/JPY: High activity due to Tokyo market operations.
  • AUD/JPY: Influenced by economic developments in Australia and Japan.

London Session (9:00 AM – 6:00 PM SAST):

  • EUR/USD: Increased volatility as European markets open.
  • GBP/USD: Active trading aligns with London market hours.

New York Session (3:00 PM – 12:00 AM SAST):

  • USD/CAD: Responsive to U.S. and Canadian economic news.
  • GBP/USD: Continued activity with overlap from the London session.

London/New York Overlap (3:00 PM – 6:00 PM SAST):

  • EUR/USD: Peak liquidity and volatility during this period.
  • USD/CHF: Significant movements due to active U.S. and European traders.

 

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 minimal 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 offer 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.

4.5/5 - (35 votes)

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

February 18, 2025

Written by:

Louis Schoeman

Featured SA Shares Writer and Forex Analyst.

I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities.

Edited by:

Skerdian Meta

Leading Analyst

Skerdian Meta FXL’s Heading Analyst is a professional Forex trader and market analyst and has been actively engaged in market analysis for the past 10 years. Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years.

Fact checked by:

Arslan Butt

Commodities & Indices Analyst

Arslan Butt, a financial expert with an MBA in Behavioral Finance, leads commodities and indices analysis. His experience as a senior analyst and market knowledge (including day trading) fuel his insightful work on cryptocurrency and forex markets, published in respected outlets like ForexCrunch.

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