Best discount Forex brokers, According to research in South Africa much less than full-service brokers, but they offer limited services. In a nutshell, they execute your orders to buy or sell your investments.
This is a complete listing of The 5 Best Discount Forex Brokers required. In this in-depth write-up, you will learn:
- The Top 5 Discount Forex Brokers in South Africa
- Who are the Best-regulated Forex Brokers
- Best discount broker with MT4
- Our recommended Forex Broker for Beginners
- Pros and Cons for Discount Forex Brokers
- FAQ for Discount Forex Brokers
Best Discount Forex Brokers
| 🔎 Broker | 👉Open Account | 💴 Minimum Dep. | 💵 Regulation | 💶 Leverage |
| 🥉IC Markets | 👉 Open Account | $200 USD / 3557 ZAR | ASIC, CySEC, FSA, SCB | Up to 1:500 |
| 🥇Pepperstone | 👉 Open Account | $0 USD / 0 ZAR | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBA | Up to 1:500 |
| 🥉XM | 👉 Open Account | $5 USD / 88 ZAR | IFSC, FCA, CySEC, ASIC, CMA | Up to 1:888 |
| 🥇FBS | 👉 Open Account | $5 USD / 88 ZAR | FSC, ASIC, CySEC | Up to 1:3000 |
| 🥈 HFM | 👉 Open Account | $0 USD / 0 ZAR | FSCA, DFSA, FSC, CMA. FCA | Up to 1:1000 |
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is Discount Forex Brokers
Best Discount Forex Brokers are known for compelling trading tools and platforms at lower costs without the additional charges of premium services such as detailed research, individualized advice, and progressive analytics. Their tight spreads usually come with low or zero commissions, making them appealing to traders with limited funds.
5 Best Discount Forex Brokers in South Africa
- ☑️IC Markets – the Best Discount Forex Broker in South Africa.
- ☑️Pepperstone – South African Forex broker regulated by the FSCA.
- ☑️XM – High User Trust Score 95/100 with ZAR support.
- ☑️FBS – Quality Educational Materials with a deposit bonus.
- ☑️HFM – High User Trust Score 95/100 with ZAR support
1. IC Markets
Discount forex broker IC markets is a respected name because of its low trading costs and competitive rates.
It offers low commission rates and tight spreads; therefore, it suits both retail traders and professionals at an economical price.
Min Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
For those who want to lower their trading costs and at the same time have access to advanced trading tools and platforms, IC Markets provides the best option due to its transparency and efficiency in executions.
Additionally, this broker has strong liquidity enabling quick trades making it more appealing in the discount brokers field within the foreign exchange market.
Featured
| 🔎Broker | IC Markets |
| Company Information | |
| 📅Year Founded | 2007 |
| 👨💼 Current CEO | Andrew Budzinski |
| 🏗️ Founder/s | Andrew Budzinski |
| 🧑🏻💻Amount of staff | 852 |
| 👩💻Amount of active traders | 180,000+ |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC, ASIC, SCB, FSA |
| 🌎Country of regulation | Australia, Cyprus, Seychelles |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| 🔐 Two-step Authentication | Yes |
| Account Types and Features | |
| ➕Accounts | cTrader, Raw Spread, standard |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF, RMB, |
| 💰Minimum Deposit | $200 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Instant for deposits, 1-2 business days for withdrawals |
| 🪙Fund Withdrawal Fee | Free, but may vary based on payment method and account type |
| 📊Spreads from | From 0.0 pips |
| 💸Commissions | $3 per lot per side |
| 💱Number of base currencies supported | 10+ |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:500 |
| 📏Margin requirements | 100 USD traded, 1 USD margin |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | over +2200 |
| 🗠CFD Stock Indices | 25+ |
| ⚖️CFD Commodities | 22+ s |
| 📜CFD Shares | 1,600+ |
| 👀 Watch list | Yes |
| 📢 Trade Alerts | No |
| 📉 Trading Stocks with GP | Yes |
| 📊 Trading Indices with GP | Yes |
| 💱 Swap on the trading board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit Card, Debit Card, PayPal, Skrill, Neteller, UnionPay, Wire Transfer, Bpay, FasaPay, Poli |
| 💵Withdrawal Options | Credit Card, Debit Card, PayPal, Skrill, Neteller, UnionPay, Wire Transfer, Bpay, FasaPay, Poli |
| 🎁 Welcome Bonus | No |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
| 👩💻OS Compatibility | Windows, Mac (via emulation), Android, iOS |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/7 |
| 📱Customer Support email address | support@icmarkets.com (General) |
| 📞Customer Support Contact Number | Thailand: +661800011956 Indonesia: +6280332160329 Colombia: +5718005190364 Vietnam: +8412032513 |
| 👾Social media Platforms | Facebook, Twitter, |
| 🗣️Languages supported on Website | 15 + |
| Educational Resources and Support | |
| 🎓 Beginners Trader friendly UX | Yes |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes, articles, videos, and tutorials |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 2 500+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, the Qatar Economic Forum 2025 |
| 🪙Rebate program | Yes |
| 💬 Community Forum | No |
| South African Trader Specific Information | |
| 🌐 Official Website address | www.icmarkets.com |
| 👍 Official Facebook Page | Yes |
| 🐦 Official Twitter Page | Yes |
| ▶️ Official Youtube Channel | Yes |
| 🏢 Official Linkedin Page | Yes |
| 📸 Official Instagram Page | Yes |
| 🌍 South African Specific Information | |
| Does IC Markets Accept South African Traders? | Yes |
| Is IC Markets regulated by the South African regulatory body (FSCA)? | No |
| Does IC Markets offer an Affiliate Program for South African Traders? | Yes |
| Does IC Markets allow opening trading accounts in ZAR (South African Rand)? | Yes |
| 👉Open Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Offers tight spreads and low commissions | Only offers variable spreads |
| High-speed trade execution | Not as robust in educational content |
| Overseen by reputable financial authorities | Lacks promotional offers |
Our findings
IC Markets reveals that it is a highly competitive broker known for its low trading costs, featuring tight spreads and low commissions. T
2. Pepperstone
Established towards affordable trading solutions and tight spreads, it is a well-known discount forex broker. It offers competitive pricing with very few commissions, which makes it appealing to traders who want to cut down on trading costs.
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Pepperstone provides advanced trading platforms and tools that benefit both retail as well as institutional traders with a major focus on fast execution rates and reliable customer service.
Transparency in costs along with a commitment towards efficiency rank Pepperstone among those who prefer an inexpensive form of making money through currency exchange transactions on such platforms.
Featured
| 🔎Broker | Pepperstone |
| Company Information | |
| 📅Year Founded | 2010 |
| 🧑🏻💻Amount of staff | 300+ |
| 👩💻Amount of active traders | 300,000+ |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
| 🌎Country of regulation | Australia, UK, Dubai, Bahamas, Kenya |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | FSCS (UK clients) |
| Account Types and Features | |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | Yes (MAM/PAMM) |
| 📇Minor account currencies | USD, EUR, GBP, AUD, JPY, CHF |
| 💰Minimum Deposit | $0 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | No fees |
| 📊Spreads from | 0.0 pips |
| 💸Commissions | From $3.50 per lot (Razor Account) |
| 💱Number of base currencies supported | 10+ |
| 🚀Swap Fees | Applicable (except Islamic accounts) |
| 📈Leverage | Up to 1:500 |
| 📏Margin requirements | Varies by asset |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 30ms |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | 1,200+ |
| 🗠CFD Stock Indices | 15+ |
| ⚖️CFD Commodities | 25+ |
| 📜CFD Shares | 900+ |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
| 💵Withdrawal Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MT4, MT5, cTrader |
| 👩💻OS Compatibility | Windows, macOS, Android, iOS |
| 🖥️Forex trading tools | Smart Trader Tools, Autochartist, VPS |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | support@pepperstone.com |
| 📞Customer Support Contact Number | +44 203 097 8755 |
| 👾Social media Platforms | Facebook, Twitter, Instagram, YouTube |
| 🗣️Languages supported on Website | 10+ |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Articles, videos, webinars, tutorials |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 1,000+ |
| 📋IB Program | Yes |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Competitive pricing with tight spreads | Not as extensive in research and analysis tools |
| Quick trade execution | Relies on third-party platforms |
| Supports a variety of platforms | Lacks promotional offers |
Our findings
Pepperstone shows that it stands out as a discount broker with low fees, tight spreads, and competitive commissions, making it appealing for traders focused on cost efficiency.
3. XM
XM is popular among discount forex brokers mainly because of its low trading costs and narrow spreads.
There are several types of accounts offered by XM which cater to various trading styles, most of them come with minimal commissions and fees.
Min Deposit
USD 5
Regulators
FSC, CySEC, ASIC,
Trading Platform
MT4, MT5
Apart from this, XM has earned itself a positive reputation among users who want to engage in online traders’ activities due to its easy-to-use platforms along with educational material required by starters or those who have been doing it for long periods.
Furthermore, what enhances the image of such an organization like this one as safe enough when compared to others is their cheap rates’ constant policy as well as good customer service.
Featured
| Company Information | |
| 📅Year Founded | 2009 |
| 🧑🏻💻Amount of staff | 450+ |
| 👩💻Amount of active traders | Over 5 million |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | IFSC, FCA, CySEC, ASIC, CMA |
| 🌎Country of regulation | Australia, Cyprus, Belize |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | ICF (Investor Compensation Fund) |
| Account Types and Features | |
| ➕Accounts | Standard, Raw Spread, Standard Cent, Zero, Pro |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | USD, EUR, GBP, AUD, ZAR |
| 💰Minimum Deposit | $5 / R89 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | None |
| 📊Spreads from | 0.6 pips |
| 💸Commissions | None |
| 💱Number of base currencies supported | 11 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 1:1000 |
| 📏Margin requirements | Varies by asset and region |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 0.01 seconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | 1,000+ |
| 🗠CFD Stock Indices | 30+ |
| ⚖️CFD Commodities | 15+ |
| 📜CFD Shares | 1,200+ |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
| 💵Withdrawal Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller, etc.) |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MT4, MT5, XM WebTrader |
| 👩💻OS Compatibility | Windows, macOS, Android, iOS |
| 🖥️Forex trading tools | Trading signals, indicators, VPS |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | support@xm.com |
| 📞Customer Support Contact Number | +357 25029933 |
| 👾Social media Platforms | Facebook, Twitter, Instagram, YouTube |
| 🗣️Languages supported on Website | 25+ |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes (in multiple languages) |
| 📚Educational Resources | Articles, tutorials, videos, webinars |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 5,000 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, sponsorship agreement with LALIGA, the top professional football division in Spain |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Offers a low entry barrier | Charges inactivity fees |
| Supports MetaTrader 4 and MetaTrader 5 | Does not offer fixed spreads |
| Offers extensive educational content | Lacks some advanced trading tools |
Our findings
XM highlights it as a well-rounded broker with competitive pricing and low entry barriers, making it accessible to traders of all levels.
4. FBS
FBS is a well-known discount forex broker that attracts traders through its cheap margin and competitive spreads.
There are various types of accounts for different trading preferences at FBS, all with very low commission rates.
Min Deposit
USD $5
Regulators
FSC, ASIC, CySEC
Trading Platform
MT4, MT5, FBS App
Crypto
Yes
Over 27 000 000+ Traders
The company provides access to a wide range of financial instruments and trading tools, together with an easy-to-use trading platform.
The company’s focus on cost-efficiency and all-inclusive support services makes it perfect for those who want to get more by paying less when it comes to investment in this field.
Featured
| 🔎Broker | FBS |
| Company Information | |
| 📅Year Founded | 2009 |
| 🧑🏻💻Amount of staff | 150+ |
| 👩💻Amount of active traders | 16 million+ |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSC, ASIC, CySEC |
| 🌎Country of regulation | Belize, Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | ICF (for EU clients) |
| Account Types and Features | |
| ➕Accounts | cTrader, Raw Spread, standard |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | Yes (PAMM) |
| 📇Minor account currencies | USD, EUR, GBP, THB |
| 💰Minimum Deposit | $5 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 15 minutes to 24 hours |
| 🪙Fund Withdrawal Fee | Varies based on payment method |
| 📊Spreads from | From 0.0 pips |
| 💸Commissions | From $6 per lot (ECN Account) |
| 💱Number of base currencies supported | 6 |
| 🚀Swap Fees | Applicable (except Islamic accounts) |
| 📈Leverage | Up to 1:3000 |
| 📏Margin requirements | Varies based on asset |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 0.2 seconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | 200+ |
| 🗠CFD Stock Indices | 5 |
| ⚖️CFD Commodities | 6 |
| 📜CFD Shares | 100+ |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller) |
| 💵Withdrawal Options | Credit/Debit cards, Bank transfers, e-wallets (Skrill, Neteller) |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MT4, MT5, FBS Trader App |
| 👩💻OS Compatibility | Windows, macOS, Android, iOS |
| 🖥️Forex trading tools | Economic calendar, market analysis, VPS, calculators |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | support@fbs.com |
| 📞Customer Support Contact Number | +357 25 313540 |
| 👾Social media Platforms | Facebook, Instagram, Twitter, YouTube |
| 🗣️Languages supported on Website | 18+ Languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Articles, videos, tutorials, webinars |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 18,000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, the Qatar Economic Forum 2025 |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Offers accounts with a very low minimum deposit | High leverage can also increase risk |
| Provides a wide range of account options | Spreads can widen during market volatility |
| Regular bonuses and promotions | Lacks some advanced trading tools |
Our findings
FBS reveals that it is a flexible broker offering low-cost trading and a wide range of account types, including Cent and Micro accounts, making it accessible to beginners.
5. HFM
HFM bears a remarkable record as a discount forex broker once referred to as HotForex, characterized by pricing competitiveness and low trading costs. This company provides narrow spreads and tiny commissions in its several account categories, serving both private and institutional investors.
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
No Trading Fees
Account Activation
24 Hours
The platforms of HFM involve sophisticated tools for improved trading efficiency. HFM is an attractive option for traders aiming at reducing costs while having multiple forex actions available; this is due to its emphasis on providing cheap solutions and dependable customer service.
Featured
| Company Information | |
| 📅Year Founded | 2010 |
| 🧑🏻💻Amount of staff | 500+ |
| 👩💻Amount of active traders | 300,500 000 mil |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSCA, DFSA, FSC, CMA. FCA |
| 🌎Country of regulation | UK, South Africa, Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Premium Account, Zero Spread Account, Pro Account, HFcopy Account |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Not offered |
| 📇Minor account currencies | AUD, GBP, USD, EUR, CAD, CHF, JPY, SGD, HUF, PLN, NZD, ZAR |
| 💰Minimum Deposit | $0 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | Free up to a certain amount |
| 📊Spreads from | 0.1 pips |
| 💸Commissions | No |
| 💱Number of base currencies supported | Over 50 |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | 1:30 |
| 📏Margin requirements | 0.50% |
| ☪️Islamic account (swap-free) | Yes, available upon request |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 500+ |
| 🗠CFD Stock Indices | Yes, HFM offers CFDs on major global stock indices, including US30 (Dow Jones), UK100 (FTSE), and many more. |
| ⚖️CFD Commodities | Yes, HFM provides CFDs on a variety of commodities, including Gold, Oil, and others. |
| 📜CFD Shares | Yes, HFM allows trading CFDs on a selection of popular company shares, such as Amazon and Meta. However, the total number of individual stock CFDs may be limited compared to specialized stock brokers. |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/debit cards, bank transfers, electronic wallets. |
| 💵Withdrawal Options | Must be sent via the same payment method used for deposit |
| Trading Platforms and Tools | |
| 💻Trading Platforms | HFM Platform, MT4 |
| 👩💻OS Compatibility | Windows, macOS, Web, Mobile (Android, iOS) |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/5 |
| 📱Customer Support email address | support.za@hfm.com |
| 📞Customer Support Contact Number | +27-104 439 924 |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | 27 languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes, HFM offers a multi-award winning affiliate program with competitive commissions, marketing tools, and dedicated support. |
| 👨🏫Amount of partners | 41 000 |
| 📋IB Program | Yes, HFM has a dedicated IB (Introducing Broker) program with custom solutions for introducing new clients. |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| South African Trader Specific Information | |
| Does HFM Accept South African Traders? | Yes, HFM accepts South African traders. |
| Is HFM regulated by the South African regulatory body (FSCA)? | Yes, HFM is regulated by the South African regulatory body, the Financial Sector Conduct Authority (FSCA). |
| Does HFM offer an Affiliate Program for South African Traders? | Yes, HFM offers an Affiliate Program that is likely available to South African traders. |
| Does HFM allow opening trading accounts in ZAR (South African Rand)? | Yes, HFM allows opening trading accounts in ZAR (South African Rand). |
| 👉Open Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Offers multiple account options | High leverage can increase risk |
| Provides tight spreads and low commissions | Lacking its own trading platform. |
| Offers comprehensive educational content | Support may be limited |
Our findings
HFM shows that it is a versatile broker with a variety of account types and low trading costs, particularly through its zero-spread accounts.
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Frequently Asked Questions
What are discount forex brokers?
Brokers that buy or sell your investments at a lower cost than a full-service broker.
Should a beginner make use of a discount forex broker?
It will cost you less, but remember that they do not provide advice.
Do discount brokers offer customer support?
Most of them do.
What are the things to look out for in discount brokers?
Fees, minimum deposit, customer support, tools, and education.
Which forex broker is the cheapest in SA?
The cheapest Brokers are Trade Nation, Capital.com, IG, Global Prime, and Pepperstone.
Vantage GO Markets.
What Are Forex Brokers for Beginners?
The best brokers for beginners are AvaTrade, Octa, FP Markets, Pepperstone, and Exness.
Top 4 Brokers
