All Share (J203) = 93 135
Rand / Dollar = 18.01
Rand / Pound = 24.15
Rand / Euro = 20.32
Gold (usd/oz) = 3 298.19
Platinum (usd/oz) = 1 081.40
Brent (usd/barrel) = 64.03
Trade +10,000 CFDs with Tight Raw Spreads. – Trade Now!

10 Best Forex Brokers in South Africa

Best Forex Brokers in South Africa

 

The 10 Best Forex Brokers in South Africa Revealed. We have listed, rated, and reviewed the Best Forex Brokers in South Africa. 

This is a complete listing of the Top Ten Forex Brokers out of 175+ brokers in South Africa. (Updated for May 2025*)

 

🛡️Regulated brokers tested against 30 fundamental criteria.

🛡️These top 10 forex brokers were tested via their demo accounts.

🛡️These brokers accept South African Traders. 🇿🇦

 

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, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

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

$10

#6

FSA, FSC, FSCA

$20

#7

BVI FSC, LFSA, FSCA

$1

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$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

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.9/5

User Score

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, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

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

$10

#6

FSA, FSC, FSCA

$20

#7

BVI FSC, LFSA, FSCA

$1

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#9

FCA, FSC, FSCA

$200

#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

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.9/5

User Score

 

This in-depth write-up will teach you everything you need to know to choose a forex broker in South Africa in 2025 confidently.

Whether you’re a complete beginner or an experienced trader, this guide is designed to help you find the most reliable and cost-effective brokers tailored to your trading needs.

We’ve carefully researched and compared dozens of platforms based on regulatory status, trading costs, platform usability, and withdrawal convenience so you don’t have to.

 

 

Top 10 Forex Brokers in South Africa in 2025 – A Comparison

🌍 Broker🚀 Open an Account📊 Spreads💷 Min. Deposit (USD)🖥️ Platform Usability & Features🏆 Overall Rating
🟢 AvaTrade👉Open AccountFixed spreads,
From 0.9 pips
$100 / ZAR R1,843
MT4,
MT5,
AvaTradeGO,
WebTrader
⭐⭐⭐⭐⭐
🔴 HFM👉Open AccountFrom 0.0 pipsUSD 0 / ZAR 0MT4,
MT5,
HFM App
Copy Trading
⭐⭐⭐⭐⭐
🔵 ATFX👉 Open AccountFrom 0.6 pips$100 / ZAR R1,843
MT4,
WebTrader
Social Trading
⭐⭐⭐⭐
🟠 Tickmill👉Open AccountFrom 0.0 pips$100 / ZAR R1,843
MT4,
MT5,
Tickmill Trader
⭐⭐⭐⭐⭐
🟡 Exness👉Open AccountFrom 0.3 pipsUSD 10 / ZAR 179MT4,
MT5,
Exness Terminal
⭐⭐⭐⭐⭐
🟣 easyMarkets👉Open AccountFixed from 0.9USD 25 / ZAR 449MT4,
easyMarkets Web/App
⭐⭐⭐⭐
⚪ IC Markets👉 Open AccountFrom 0.0 pipsUSD 200 / ZAR 3758MT4,
MT5,
⭐⭐⭐⭐⭐
🔘 FP Markets👉Open AccountFrom 0.0 pips$100 / ZAR R1,843
MT4,
MT5,
cTrader
⭐⭐⭐⭐½
🧿 FxPro👉 Open AccountFrom 0.3 pips$100 / ZAR R1,843
MT4, MT5,
cTrader,
FxPro Edge
⭐⭐⭐⭐
🌀 IFC Markets👉 Open Account1.8 pipsUSD 1 / ZAR 18MetaTrader4, MetaTrader5, and NetTradeX.⭐⭐⭐⭐

 

Top 10 Forex Brokers in South Africa in 2025 – A Comparison

What you’ll discover in this article:

  • The Top 10 Forex Brokers in South Africa for May 2025 – a comprehensive, up-to-date list + Pros and Cons.

  • FSCA-Regulated Forex Brokers – ensuring your trading partner is licensed and trustworthy.

  • Low Spread Forex Brokers in South Africa – to help you reduce trading costs and maximise profit potential.

  • The Best Forex Trading Platforms for South African traders – including MetaTrader 4/5, cTrader, and proprietary options.

  • Hassle-Free Deposit and Withdrawal Brokers – where moving your money in and out is quick, safe, and stress-free.

  • The Top Forex Brokers for Beginners in South Africa – featuring user-friendly platforms, free demo accounts, and educational tools to get you started on the right foot.

 

10 Best Forex Brokers in South Africa (🇿🇦May 2025*)

  1. ☑️AvaTrade – Overall, the Best Forex Broker in South Africa for May 2025.
  2. ☑️HFM -South African Forex broker regulated by the FSCA.
  3. ☑️ATFX – Low ZAR Minimum Deposit Broker.
  4. ☑️Tickmill – Quality Educational Materials with a deposit bonus.
  5. ☑️Exness – High User Trust Score 95/100 with ZAR support.
  6. ☑️easyMarkets – Good Option for Beginners for South Africans.
  7. ☑️IC Markets Excellent trading platforms and online support.
  8. ☑️FP Markets – Great Spreads and Online Trading Experience.
  9. ☑️FxPro – Regulated in SA, High User Trust Score 92/100.
  10. ☑️IFC Markets – Excellent all-around offering for professional traders.

 

1. AvaTrade

AvaTrade Review

 

The South African investment market gets its secure and advanced trading features from AvaTrade, which provides best-in-class forex broker regulation.

The FSCA regulation provides traders with fixed spreads together with commission-free trading and a possible leverage ratio of up to 400:1.

Users of the MetaTrader 4, MetaTrader 5, and AvaTradeGO trading platforms can find integrated interfaces that serve beginners and advanced traders at AvaTrade.

As part of its service, the broker allows traders to access markets for foreign exchange and stocks alongside commodities and digital currencies.

South African traders can depend on AvaTrade because the platform provides quick banking operations while protecting traders from negative balances, along with rich educational resources.

 

Min Deposit

USD 100

Regulators

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

Trading Platform

MT4, MT5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker NameAvaTrade
🏛️ Regulated ByFSCA 🇿🇦,
ASIC 🇦🇺,
CySEC 🇨🇾,
FSA 🇯🇵
🛡️ Regulation Number in South AfricaRegulated by the FSCA under license number 45984.
💸 Minimum Deposit in Local Currency$100 / ZAR R1,843
🏢 Local OfficesLocated at No. 70 Grayston Drive, 2nd Floor, Sandton, Johannesburg.
📉 Trading PlatformsMetaTrader 4/5, AvaTradeGo
WebTrader
💹 Account TypesRetail
Islamic,
Professional
🎯 LeverageUp to 1:400
(Retail SA clients)
🧮 SpreadsFrom 0.9 pips
🔒 Negative Balance Prot Yes – You’ll never go below zero
📚 Education & ToolsTrading Central, SharpTrader
Risk Management Tools
🕐 Execution SpeedUltra-fast < 0.1s average execution
📞 Local SupportAvailable 🇿🇦 – Dedicated SA team
✅ Accepts Traders in South AfricaYes, AvaTrade welcomes clients from South Africa.
💱 Can You Trade with Local CurrencyYes, ZAR accounts are available, allowing trading in South African Rand.
📞 Is There Local SupportYes, support is available via local phone: +27 10 594 1353 and WhatsApp: +44 7520 644093.
🏦 South Africa Based AccountYes, AvaTrade offers ZAR-based accounts to South African clients.
🎁 Sign-Up Bonus for New TradersOffers a 100% welcome bonus on first deposits between $100 and $300.
🏆 Overall Score⭐⭐⭐⭐⭐ (5/5) – Reliable,
Regulated,
and Easy to Use
🚀Sign up👉 Open Account

 

AvaTrade Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Easy Account openingLimited product portfolio
No withdrawal feeAdministration fee
Low trading feesInactivity fee
Negative balance protectionNot listed on stock exchange

 

Our Findings

In today’s global market, it is clear that AvaTrade stands out as one of the most reputable and regulated forex and CFD brokers.

Various trading instruments are available for clients, and different trading platforms can be used without worrying about high fees.

 

 

2. HFM

HFM Review

 

South African forex broker HFM stands as one of the highest-quality brokers under FSCA, DFSA, FSC, and CMA. FCA regulations offer traders a safe and open trading space.

HFM presents tight spreads together with zero-commission accounts and a leverage system that allows traders up to 1000:1, which serves all levels of experience in the market.

HFM enables clients to trade through MetaTrader 4, MetaTrader 5, and its self-developed HFM application for instant order execution, together with sophisticated trading features.

Transactions at HFM are made seamless because the broker provides both rapid and seamless deposit and withdrawal services.

South African traders will continue to find HFM a strong solution because it offers excellent support services alongside asset trading flexibility and commitment to guarantee no negative account balances.

 

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

 

Overview

🏦 Category📌 Details
🔖 Broker NameHFM
🏛️ Regulated ByFSCA 🇿🇦,
FCA 🇬🇧,
DFSA 🇦🇪,
FSA 🇸🇨
🛡️ Regulation Number in South AfricaHFM is regulated by the Financial Sector Conduct Authority (FSCA) under license number 46632, ensuring compliance with South African financial regulations.
🏢 Local OfficesHFM maintains a physical office at Katherine & West, Suite 18, Second Floor, 114 West Street, Sandton, Johannesburg 2031, providing local presence and support.
💸 Minimum Deposit in Local CurrencyFrom $5 / ZAR 92
📉 Trading PlatformsMetaTrader 4 & 5
HFM App
💹 Account TypesCent,
Premium,
Zero Spread,
Islamic
🎯 LeverageUp to 1:1000
🧮 SpreadsFrom 0.0 pips on Zero Account
🔒 Negative Balance Prot✅ Yes – Risk protection in volatile markets
📚 Education & ToolsAdvanced analytics
Video tutorials
Webinars
🕐 Execution SpeedLightning-fast
Just milliseconds per trade
📞 Local SupportHFM provides dedicated customer support for South African clients, including local contact options.
✅ Accepts Traders in South AfricaYes, HFM welcomes South African clients and offers services tailored to the local market.
💱 Can You Trade with Local CurrencyYes, HFM offers trading accounts denominated in South African Rand (ZAR), allowing for deposits, withdrawals, and trading in the local currency.
🏦 South Africa Based AccountSouth African traders can open accounts based in ZAR, facilitating easier fund management and avoiding currency conversion fees.
🎁 Sign-Up Bonus for New TradersHFM provides promotional offers, including a 30% deposit bonus for new traders. Specific terms and conditions apply, and availability may vary.
🏆 Overall Score⭐⭐⭐⭐⭐ (5/5) – Ultra-low spreads,
FSCA-regulated,
great for all levels
🚀Sign up👉 Open Account

 

HFM Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
FSCA RegulatedUS clients not accepted
Fast and easy account openingHigh bank withdrawal fees
Low trading feesInactivity fee after one year

 

Our Findings

HFM (HF Markets) seems to be a well-known, multi-regulated forex and commodities broker.

South Africa has a significant presence that provides competitive trading conditions, including low spreads and quick execution.

 

 

3. ATFX

ATFX Securities Review

 

ATFX is a trustworthy forex broker that delivers clear and competitive trading solutions to users.

The FCA, CySEC, ASIC, FSCA, and SCA regulate ATFX, which offers traders a protected trading framework.

The tight spreads, along with no hidden costs and high leverage of 500:1 at ATFX, enable both novice and experienced traders to use the platform effectively.

MT4 platform supports the broker since it delivers superior charting tools and swift execution methods.

ATFX continues to provide South African forex traders with an excellent trading solution through quick financial transactions alongside multilingual assistance and multiple market instruments that deliver both speed and reliability.

 

Min Deposit

R100

Regulators

FCA, CySEC, ASIC, FSCA, SCA

Trading Platform

MT5

Crypto

No

Total Pairs

43

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker NameATFX
🏛️ Regulated ByFSCA 🇿🇦,
FCA 🇬🇧,
CySEC 🇨🇾,
FSA 🇲🇺
🛡️ Regulation Number in South AfricaATFX is regulated by the Financial Sector Conduct Authority (FSCA) under license number 44816, ensuring compliance with South African financial regulations.
🏢 Local OfficesATFX maintains a physical office at Office 1801B, 18th Floor, Portside Tower, 4 Bree Street, Cape Town, Western Cape 8001, providing local presence and support.
💸 Minimum Deposit in Local CurrencyZAR 100
📉 Trading PlatformsMetaTrader 4
Mobile App
💹 Account TypesStandard
ECN
Islamic
🎯 LeverageUp to 1:400
🧮 SpreadsFrom 0.6 pips (on ECN account)
🔒 Negative Balance Prot✅ Yes – Added capital protection
📚 Education & ToolsMarket insights
Economic calendar
Trading Central
🕐 Execution SpeedSwift execution – Near-instant orders
📞 Is There Local SupportATFX provides dedicated customer support for South African clients, including local contact options.
✅ Accepts Traders in South AfricaYes, ATFX welcomes South African clients and offers services tailored to the local market.
💱 Can You Trade with Local CurrencyYes, ATFX offers trading accounts denominated in South African Rand (ZAR), allowing for deposits, withdrawals, and trading in the local currency.
🏦 South Africa Based AccountSouth African traders can open accounts based in ZAR, facilitating easier fund management and avoiding currency conversion fees.
🎁 Sign-Up Bonus for New TradersATFX provides promotional offers, including a 100% deposit bonus for new traders. Specific terms and conditions apply, and availability may vary.
🏆 Overall Score⭐⭐⭐⭐ (4/5) – Professional-grade broker,
low spreads,
FCA-regulated
🚀Sign up👉 Open Account

 

ATFX Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Competitive trading conditionsNot much information on trading and no-trading fees
No deposit fees or withdrawal fees chargedOne Standard Account offered

 

Our Findings

Based on my findings, ATFX offers a solid trading experience with a focus on customer service and a range of account types.

 

 

4. Tickmill

Tickmill Review South Africa

 

Tickmill established itself as an accredited Forex broker, which successfully gained recognition in South Africa through its spread pricing strategy and trading condition assurance.

The platform delivers trading account options that range from ECN to meet the demands of both novice and expert users and offers more than eighty trading instruments, which encompass Forex and commodities as well as indices.

Both novice traders and professional users from South Africa like Tickmill because of its rapid execution speeds, along with minimal costs.

Tickmill South Africa is authorized and regulated by the Financial Sector Conduct Authority FSCA, CySEC, FCA, and FSA, which regulate all major financial markets.

 

Min Deposit

USD 100

Regulators

CySEC, FCA, FSA, FSCA

Trading Platform

MT4, MT5, Tickmill Trader

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker NameTickmill
🏛️ Regulated ByFSCA 🇿🇦,
FCA 🇬🇧,
CySEC 🇨🇾,
FSA 🇸🇨
🛡️ Regulation Number in South AfricaTickmill South Africa (Pty) Ltd is regulated by the Financial Sector Conduct Authority (FSCA) under license number FSP 49464, ensuring compliance with South African financial regulations.
🏢 Local OfficesTickmill maintains a physical office at Office 11, 140 West Street, Sandton, Gauteng, 2196, providing local presence and support.
💸 Minimum Deposit in Local CurrencyUSD 100 / ZAR R1,843
📉 Trading PlatformsMetaTrader 4/5
WebTrader
💹 Account TypesClassic
Pro
VIP
Islamic
🎯 LeverageUp to 1:500 – Scale up your strategy
🧮 SpreadsFrom 0.0 pips (Pro account)
🔒 Negative Balance Prot✅ Yes – Built-in safety net
📚 Education & ToolsWebinars
E-books
Autochartist
Daily Analysis
🕐 Execution SpeedUltra-low latency
< 0.2 seconds avg
📞 Is There Local SupportTickmill provides dedicated customer support for South African clients, including local contact options.
✅ Accepts Traders in South AfricaYes, Tickmill welcomes South African clients and offers services tailored to the local market.
💱 Can You Trade with Local CurrencyYes, Tickmill offers trading accounts denominated in South African Rand (ZAR), allowing for deposits, withdrawals, and trading in the local currency.
🏦 South Africa Based AccountSouth African traders can open accounts based in ZAR, facilitating easier fund management and avoiding currency conversion fees.
🎁 Sign-Up Bonus for New TradersTickmill provides promotional offers, including a $30 Welcome Bonus for new traders. Specific terms and conditions apply, and availability may vary.
🏆 Overall Score⭐⭐⭐⭐⭐ (5/5) – Tight spreads, fast execution, pro tools for all levels
🚀Sign up👉 Open Account

 

Tickmill Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Tickmill offers robust trading platforms and innovative mobile tradingCurrency conversion fees will apply for some deposits
Tickmill has a very high trust score and is known for its competitive trading conditionsThere are no fixed spread accounts offered
There are several convenient funding options available including Skrill, Neteller, and othersThe spreads are not the tightest

 

Our Findings

Tickmill seems to be a very competitive online broker that provides a powerful trading platform with attractive spreads and quick execution times.

The focus on high-volume traders is clear in the advanced charting tools and API access, among other features.

 

 

5. Exness

Review Exness

 

The popular Forex broker Exness serves numerous South African traders through competitive spreads by providing Standard and Pro, and ECN account options.

Users at Exness benefit from an intuitive trading platform with rapid execution services and services for both novice traders alongside those with more experience.

Through this broker, clients can access different financial products, which include Forex trading, commodities trading, and trading on indices.

The CBCS, CySEC, FCA, FSA, FSC, FSCA, and CMA act as regulatory bodies that govern Exness while they both ensuring complete security and visibility for users.

South African traders find the diverse account funding methods of the broker convenient for depositing money into their accounts and handling their trading operations.

 

Min Deposit

USD 10

Regulators

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

Trading Platform

MT4, MT5, WebTerminal, Exness Terminal

Crypto

Yes

Total Pairs

97

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker NameExness
🏛️ Regulated ByFSCA 🇿🇦,
FCA 🇬🇧,
CySEC 🇨🇾,
FSA 🇸🇨,
CBCS 🇨🇼
💸 Minimum Deposit in Local CurrencyFrom $10 / ZAR 350
📉 Trading PlatformsMetaTrader 4/5
Exness Terminal
WebTrader
💹 Account TypesStandard
Raw Spread
Zero,
Pro
Islamic
🎯 LeverageUp to Unlimited
🧮 SpreadsFrom 0.0 pips (Raw Spread account)
🔒 Negative Balance Prot✅ Yes – Safety-first trading
📚 Education & ToolsWebinars
Market insights, Calculator suite
🕐 Execution SpeedUltra-fast – < 25 ms on major pairs
📞 Is There Local SupportExness provides dedicated customer support for South African clients, including local contact options.
✅ Accepts Traders in South AfricaYes, Exness welcomes South African clients and offers services tailored to the local market.
🛡️ Regulation Number in South AfricaExness ZA (Pty) Ltd is authorized by the Financial Sector Conduct Authority (FSCA) as a Financial Service Provider (FSP) with FSP number 51024.
🏢 Local OfficesExness maintains a physical office at 9A CT House, 2nd Floor, Providence, Mahe, Seychelles, providing local presence and support.
💱 Can You Trade with Local CurrencyYes, Exness offers trading accounts denominated in South African Rand (ZAR), allowing for deposits, withdrawals, and trading in the local currency.
🏦 South Africa-Based AccountSouth African traders can open accounts based in ZAR, facilitating easier fund management and avoiding currency conversion fees.
🎁 Sign-Up Bonus for New TradersExness does not offer sign-up bonuses or promotional incentives, focusing instead on providing transparent and fair trading conditions.
🏆 Overall Score⭐⭐⭐⭐⭐ (5/5) – Industry-leading leverage, low costs, SA-regulated
🚀Sign up👉 Open Account

 

Exness Forex Brokers

 

Pros and Cons

✅ Pros❌ Cons
Highly RegulatedNo multi-currency accounts available
Client funds kept in segregated accountsTraining resource section only available in English

 

Our Findings

Among multi-asset brokers worldwide, Exness is the front-runner regarding its regulatory systems, various trading tools, and enticing trading conditions.

Prioritizing customer satisfaction at all costs, Exness provides narrow spreads, speedy executions, and smooth withdrawal processes.

 

 

6. easyMarkets

easyMarkets Review

 

South Africa’s traders find easyMarkets as their go-to Forex broker because it delivers an intuitive platform that enables traders of different levels to navigate easily.

The broker provides Users with transparent pricing along with fixed spreads through its advanced system, which creates simple trading conditions for new and experienced traders.

Through its platform, South African traders gain access to Forex trading alongside commodities and indices distribution.

South African traders find the guaranteed stop loss and deal cancellation risk management tools at the broker particularly advantageous since they help minimize market risks.

Trading at easyMarkets happens under the supervision of regulatory bodies CySEC, ASIC, BVI, FSA, and FSCA, which creates a secure platform for clients.

 

Min Deposit

USD 25

Regulators

CySEC, ASIC, BVI, FSA, FSCA

Trading Platform

MT4, Proprietary Platform, MT5 and TradingView

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker NameeasyMarkets
🏛️ Regulated ByFSCA 🇿🇦,
ASIC 🇦🇺,
CySEC 🇨🇾
🛡️ Regulation Number in South AfricaeasyMarkets is regulated by the Financial Sector Conduct Authority (FSCA) under license number 54018, ensuring compliance with South African financial regulations.
🏢 Local OfficesWhile easyMarkets does not have a physical office in South Africa, they provide dedicated online support for South African clients.
💸 Minimum Deposit in Local CurrencyFrom $25 / ZAR 460
📉 Trading PlatformsMT4
easyMarkets Web & Mobile App
💹 Account TypesStandard
VIP
Islamic
🎯 LeverageUp to 1:2000 – High risk, high reward
🧮 SpreadsFrom 0.9 pips (Fixed)
🔒 Negative Balance Prot✅ Yes – Safety cushion built-in
📚 Education & ToolsLearning Hub,
DealCancellation,
Free eBooks
🕐 Execution SpeedConsistent & stable – Lightning-fast in normal markets
📞 Is There Local SupporteasyMarkets provides dedicated customer support for South African clients through various online channels.
✅ Accepts Traders in South AfricaYes, easyMarkets welcomes South African clients and offers services tailored to the local market.
💱 Can You Trade with Local CurrencyYes, easyMarkets offers trading accounts denominated in South African Rand (ZAR), allowing for deposits, withdrawals, and trading in the local currency.
🏦 South Africa-Based AccountSouth African traders can open accounts based in ZAR, facilitating easier fund management and avoiding currency conversion fees.
🎁 Sign-Up Bonus for New TraderseasyMarkets provides promotional offers, including a 50% deposit bonus for new traders, up to $2,000. Specific terms and conditions apply, and availability may vary.
🏆 Overall Score⭐⭐⭐⭐☆ (4.5/5) – Top-notch features, fixed spreads, beginner-welcoming
🚀Sign up👉 Open Account

 

easyMarkets Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Segregates client fundsDoesn’t offer VPS
Established in 2003Limited range of instruments
Regulated by CySEC and ASICNot FCA Regulated

 

Our Findings

My findings with easyMarkets reveal a broker that prioritizes simplicity, transparency, and trader security. It offers unique features such as fixed spreads and guaranteed stop-loss

 

 

7. IC Markets

IC Markets Review

 

IC Markets serves as a leading South African Forex broker because it provides fast execution speeds, together with competitive spreads and deep liquidity.

The broker provides various account choices between Raw Spread and Standard, which serve beginner and expert traders.

South African traders can access a wide range of 230 financial instruments through IC Markets, including Forex and commodities alongside indices from its platform.

South African traders have assurance about the IC Market’s reliability and security from its regulation by top-tier authorities, including ASIC, CySEC, FSA, and SCB.

 

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

 

Overview

🏦 Category📌 Details
🔖 Broker NameIC Markets
🏛️ Regulated ByFSCA 🇿🇦,
ASIC 🇦🇺,
CySEC 🇨🇾
🛡️ Regulation Number in South AfricaIC Markets is not regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. Instead, South African clients are registered under the Seychelles Financial Services Authority (FSA) with license number SD018.
🏢 Local OfficesIC Markets does not have a physical office in South Africa. However, they provide dedicated online support for South African clients.
💸 Minimum Deposit in Local CurrencyFrom $200
/ ZAR 3686
📉 Trading PlatformsMetaTrader 4/5
cTrader
WebTrader
💹 Account TypesStandard,
Raw Spread,
Islamic
🎯 LeverageUp to 1:500 – Great flexibility with control
🧮 SpreadsFrom 0.0 pips (Raw Spread)
🔒 Negative Balance Prot✅ Yes – Risk control ready
📚 Education & ToolsTrading Central,
VPS Hosting,
Webinars
🕐 Execution Speed<40ms avg – Ultra-low latency ECN
📞 Is There Local SupportYes, IC Markets provides dedicated customer support for South African clients through various online channels.
✅ Accepts Traders in South AfricaYes, IC Markets welcomes South African clients and offers services tailored to the local market.
💱 Can You Trade with Local CurrencyNo, IC Markets does not offer trading accounts denominated in South African Rand (ZAR). Accounts are available in currencies such as USD, EUR, AUD, and others. Deposits made in ZAR will be converted to the base currency of the account.
🏦 South Africa-Based AccountWhile IC Markets does not offer ZAR-based accounts, South African traders can open accounts in other currencies and manage their funds accordingly.
🎁 Sign-Up Bonus for New TradersIC Markets does not offer sign-up bonuses or promotional incentives, focusing instead on providing transparent and fair trading conditions.
🏆 Overall Score⭐⭐⭐⭐⭐ (5/5) – Elite execution, tight spreads, true ECN model
🚀Sign up👉 Open Account

 

IC Markets Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Low fees on ForexNo investor protection
Account opening is fast and hassle freeNo protection on negative balance
Deposit and withdrawals are free of chargeLack of research tools

 

Our Findings

IC Markets supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader, enhancing its appeal to South African traders seeking flexibility and advanced trading tools.

 

 

8. FP Markets

FP Markets Review - Main Banner

 

The African Forex marketplace trusts FP Markets as a leading broker that provides many trading instruments, including Forex and commodities, alongside indices, at competitive spreads combined with minimal commissions.

The brokerage firm presents trade account choices that span from Raw to Standard to meet the needs of professionals of varying levels of experience.

South African traders experience the best trading conditions through the fast execution and deep liquidity features that make FP Markets a distinguished Forex broker.

ASIC, CySEC, FSCA, and CMA supervise the operation of this broker.

 

Min Deposit

USD 100

Regulators

ASIC, CySEC, FSCA, CMA

Trading Platform

MT4, MT5, Iress Trader, cTrader

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker Name FP Markets
🏛️ Regulated ByFSCA 🇿🇦,
ASIC 🇦🇺,
CySEC 🇨🇾
🛡️ Regulation Number in South AfricaFP Markets is regulated by the Financial Sector Conduct Authority (FSCA) under license number 50926, ensuring compliance with South African financial regulations.
🏢 Local OfficesWhile FP Markets does not have a physical office in South Africa, they provide dedicated online support for South African clients.
💸 Minimum Deposit in Local CurrencyFrom $100 / ZAR R1,843
📉 Trading PlatformsMetaTrader 4/5
IRESS
cTrader
💹 Account TypesStandard,
Raw ECN
Islamic
🎯 LeverageUp to 1:500 – Advanced trader control
🧮 SpreadsFrom 0.0 pips (ECN)
🔒 Negative Balance Prot✅ Yes – Enhanced capital safety
📚 Education & ToolseBooks ,
Trading Hub,
VPS & Analytics
🕐 Execution SpeedLightning fast <30ms – DMA infrastructure
📞 Is There Local SupportFP Markets provides dedicated customer support for South African clients through various online channels.
✅ Accepts Traders in South AfricaYes, FP Markets welcomes South African clients and offers services tailored to the local market.
💱 Can You Trade with Local CurrencyYes, FP Markets offers trading accounts denominated in South African Rand (ZAR), allowing for deposits, withdrawals, and trading in the local currency.
🏦 South Africa-Based AccountSouth African traders can open accounts based in ZAR, facilitating easier fund management and avoiding currency conversion fees.
🎁 Sign-Up Bonus for New TradersFP Markets provides promotional offers, including a $30 Welcome Bonus for new traders. Specific terms and conditions apply, and availability may vary.
🏆 Overall Score⭐⭐⭐⭐☆ (4.8/5) – Solid spreads,
deep liquidity,
strong regulation
🚀Sign up👉 Open Account

 

FP Markets Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Easy and fast account openingLimited product portfolio
Low trading feesHigh CFD fees
Fast execution of tradesHigh minimum deposit
Low Forex feesHigh fee for international bank withdrawal

 

Our Findings

FP Markets has been noted for its forex and CFD brokerage services, which are characterized by low trading spreads, prompt execution time, and a wide variety of tradable financial products.

The company emphasizes the highest possible level of liquidity and price competitiveness in the market.

 

 

9. FxPro

FXPro Review

 

FXPro is a broker that provides multiple trading instruments such as Forex and commodities, and indices through competitive spreads combined with low commissions.

The broker supports different trading accounts through MT4 and MT5, along with the cTrader platform, to serve users from novice to pro levels.

South African traders use FXPro because of its well-known fast execution speeds, together with reliable trading conditions that provide effective marketplace access.

South African traders can choose FXPro because the broker operates under strict regulations from the FCA, CySEC, FSCA, and SCB, which establishes an open and protected trading space while providing traders with stability during their market activities.

 

Min Deposit

USD 100

Regulators

FCA, SCB

Trading Platform

MT4, MT5

Crypto

No

Total Pairs

70

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker NameFxPro
🏛️ Regulated ByFSCA 🇿🇦,
FCA 🇬🇧,
CySEC 🇨🇾,
SCB 🇧🇸
💸 Minimum Deposit in Local CurrencyFrom $100 / ZAR R1,843
📉 Trading PlatformsMetaTrader 4/5
cTrader
FxPro Edge
💹 Account TypesFixed Spread
Raw Spread
Islamic
🎯 LeverageUp to 1:200 – Balanced risk/reward strategy
🧮 SpreadsFrom 0.9 pips
🔒 Negative Balance Prot✅ Yes – Built-in safeguard
📚 Education & ToolsCalculators,
Market News,
Trading Central
🕐 Execution Speed<14ms – Lightning-fast, low-slippage trades
📞 Is There Local SupportFxPro provides dedicated customer support for South African clients through various online channels.
✅ Accepts Traders in South AfricaYes, FxPro welcomes South African clients and offers services tailored to the local market.
🛡️ Regulation Number in South AfricaFxPro Financial Services Ltd is authorized and regulated by the Financial Sector Conduct Authority (FSCA) under license number 45052, ensuring compliance with South African financial regulations.
🏢 Local OfficesWhile FxPro does not have a physical office in South Africa, they provide dedicated online support for South African clients.
💱 Can You Trade with Local CurrencyYes, FxPro offers trading accounts denominated in South African Rand (ZAR), allowing for deposits, withdrawals, and trading in the local currency.
🎁 Sign-Up Bonus for New TradersFxPro does not offer sign-up bonuses or promotional incentives, focusing instead on providing transparent and fair trading conditions.
🏆 Overall Score⭐⭐⭐⭐☆ (4.7/5) – Trusted, tech-driven, global broker
🚀Sign up👉 Open Account

 

FxPro Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Segregates client fundsNot ASIC Regulated
Highly Regulated (FCA, SCB)High trading fees
Low Minimum DepositInactivity Fee
User-Friendly account registrationOnly CFDs and Forex
Fast Trade Execution (Ultra-low latency)No Bonuses or Promotions
Multiple Trading Platforms (MT4, MT5, cTrader, FxPro Edge)Limited Range of Tradable Assets (No direct stocks or ETFs)
No Deposit FeesHigher Spreads on Some Accounts
24/5 Multilingual SupportNo Social Trading Features

 

Our Findings

My findings with FxPro highlight it as a versatile and well-regulated broker with a strong global presence. FxPro offers a wide range of trading instruments and multiple platform choices

 

 

10. IFC Markets

IFC Markets Review

 

IFC Markets conducts business in South Africa through FSP number 51818 under authorization of the Financial Sector Conduct Authority (FSCA).

IFC Markets SA (Pty) Ltd provides its services from its headquarters at Norwich Place West, located in the Sandton area of Gauteng province.

South African traders can trade using more than 600 trading instruments that include Forex and CFDs, and cryptocurrencies, together with MetaTrader 4/5 and NetTradeX platforms.

New traders can access the IFC Markets platform through a $1 minimum deposits that accommodate ZAR-denominated accounts through diverse deposit channels.

 

Min Deposit

USD 1

Regulators

BVI FSC, LFSA, FSCA

Trading Platform

MT4, MT5, NetTradeX

Crypto

Yes

Total Pairs

50

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overview

🏦 Category📌 Details
🔖 Broker NameIFC Markets
🏛️ Regulated ByBVI FSC, LFSA, FSCA
🛡️ Reg. Number in South AfricaFSP No. 51818
💸 Minimum Deposit (Local)R18 (approx.) — $1 / €1 / ¥100 / 1000 uBTC
🏢 Local OfficesNorwich Place West, Sandton, Gauteng, South Africa
📉 Trading PlatformsMetaTrader 4, MetaTrader 5, NetTradeX
💹 Account TypesMicro, Standard, Beginner (NetTradeX), VIP, Islamic
🎯 Maximum Leverage1:400
🧮 SpreadsFrom 0.4 pips floating / 1.8 pips fixed
🔒 Negative Balance ProtectionNot explicitly mentioned
📚 Education & ToolsBlog, News, Tutorials, Trading Ideas, Glossary
🕐 Execution SpeedVaries by method – bank transfers 2–3 days, most e-payments instant
📞 Local SupportYes – via Phone, Email, Live Chat, WhatsApp, Telegram, etc.
✅ Accepts South African TradersYes
💱 Trade in Local CurrencyZAR not listed; supports USD, EUR, JPY, uBTC
🏦 SA-based Bank Account OptionYes – via international transfer, cards, e-wallet
🏆 Awards🏅 “Most International Broker 2025”, 🏅“Best Broker Southeast Asia 2025”, and others
🔥 PromotionsYes – occasional bonuses, competitions
🚀Sign up👉 Open Account

 

IFC Markets

 

Pros and Cons

✅ Pros❌ Cons
Innovative trading solutionsSlow Bank Transfer Times
Well-regulatedIslamic Account Restrictions
Popular amongst tradersLimited to 1:400 Leverage
Good education and research toolsPlatform UX Not as Modern

 

Our Findings

The broker also offers Islamic accounts, VIP services, and multilingual customer support

 

 

Broker Comparison

🔎Broker💻Account Types💰Minimum Deposit📊Spreads📈Leverage
🥇AvaTradeStandard, Retail, Professional, Islamic$100From 0.9 pips (Forex)Up to 1:400 (Professional)
🥈HFMPremium Account,
Zero Spread Account,
Pro Account,
HFcopy Account
$5From 0.1 pips (Zero Spread Account)Up to 1:1000
🥉FBSCent, Standard, Micro, Zero Spread, ECN, Islamic$1 (Cent Account)From 0.0 pips (ECN Account)Up to 1:3000
🥇TickmillClassic, Pro, VIP, Islamic$100From 0.0 pips (Pro Account)Up to 1:500
🥈ExnessStandard, Pro, Raw Spread, Zero Spread, Islamic$10From 0.0 pips (Raw Spread)Up to 1:2000+
🥉BDSwissClassic, VIP, Raw, Islamic$100From 0.0 pips (Raw Account)Up to 1:500
🥇IC MarketsStandard, Raw Spread, Islamic$200From 0.0 pips (Raw Spread Account)Up to 1:500
🥈FP MarketsStandard, Raw, Islamic$100From 0.0 pips (Raw Account)Up to 1:500
🥉CM TradingBronze, Silver, Gold, Premium, Islamic$250From 0.9 pips (Gold Account)Up to 1:200
🥇OctaOctaTrader Account, MT4, MT5$25From 0.0 pips (ECN Account)Up to 1:1000

 

Other Remarkable Brokers

 

Vault Markets

Vault markets

 

 

Pros and Cons

✅ Pros❌ Cons
Vault Markets offers a variety of trading instruments, including forex, indices, commodities, and cryptocurrencies, providing traders with diverse options.Vault Markets is not regulated by major international regulatory bodies, which may raise concerns about investor protection.
The broker provides multiple account options with different features, catering to both beginners and experienced traders.While high leverage can be advantageous, it also increases the risk of significant losses, especially for inexperienced traders.
Vault Markets offers high leverage, up to 1:500, which can be beneficial for traders looking to maximize their market exposure with smaller capital.The broker’s services are primarily targeted at South African traders, with limited international reach.
For South African traders, the broker offers local deposit and withdrawal options, making transactions more convenient.Some users have reported delays or issues with customer support responsiveness.
Vault Markets supports the MetaTrader 4 and 5 platforms, which are widely recognized for their functionality and ease of use.As a relatively newer player in the market, Vault Markets may lack the established reputation of more long-standing brokers.

 

IFX Brokers

IFX Brokers

 

IFX Brokers is a forex and CFD broker based in South Africa that provides opportunities to trade with currencies, metals, energy, stock indices, and cryptocurrencies.

This means that the company enjoys regulations from the South African Financial Sector Conduct Authority (FSCA), which implies a high level of client protection.

The IFX brokers’ trading accounts and platforms include MetaTrader 4 and MetaTrader 5 with respective attractive price spreads, leverage, and multiple accounts for newbies and professional traders.

They also provide regional customer services as well as multiple deposit and withdrawal methods.

 

Pros and Cons

✅ Pros❌ Cons
IFX Brokers is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, providing a level of trust and security for traders.While regulated locally, IFX Brokers has limited presence and recognition outside South Africa, potentially reducing its global appeal.
The broker offers access to forex, indices, commodities, and cryptocurrencies, allowing traders to diversify their portfolios.The broker’s educational resources are somewhat limited compared to other brokers that offer more comprehensive tutorials, webinars, and market analysis.
IFX Brokers provides competitive spreads across asset classes, which can reduce trading costs for active traders.Customer service availability and response times may not be as efficient compared to some larger, globally-established brokers.
The broker supports the popular MetaTrader 4 and MetaTrader 5 platforms, known for their advanced charting and trading tools.Withdrawal speed may not be as fast as competitors, with some users reporting occasional delays.

 

JP Markets

JP Markets

 

 

Pros and Cons

✅ Pros❌ Cons
Offers ZAR-based accounts and local payment options, making it convenient for South African traders.Faced license suspension by the FSCA, raising concerns over regulatory standing.
Provides access to the popular and widely used MT4 trading platform.Primarily focused on the South African market, limiting international appeal.
Includes forex, commodities, indices, and cryptocurrencies.Only offers MT4 and does not provide access to more advanced or modern platforms.
Offers various account types with competitive leverage and low minimum deposits.Previous legal and regulatory issues have impacted its reputation in the trading community.

 

IG Group

IG Overview

 

 

Pros and Cons

✅ Pros❌Cons
The FCA enforces strict regulatory standards, ensuring IG follows best practices in client fund protection, data security, and transparency.The FCA imposes leverage limits (up to 1:30 for retail traders), which may limit profit potential for traders who prefer higher leverage options.
Segregated Client AccountsStrict Regulatory Requirements
Fair Trading EnvironmentSlower Account Processes

 

Best Forex Brokers in South Africa – Comparison

 

Best Forex Brokers in South Africa - Comparison

 

How we selected the best Forex Brokers in South Africa

There are a few points that South African traders must make sure of before signing up with any Forex or CFD broker.

 

Regulatory Compliance is a must

Regulation is important because it ensures the safety of your funds & protects you in case of any bad practice like fraud or manipulation by the broker.

In South Africa, you must make sure whether the broker is regulated by the FSCA or not. The best brokers will be compliant with major Regulators.

For South African traders, every forex broker that is listed in this article is compliant & licensed by 1 or more Government regulators, i.e.

FSCA (South Africa), FCA (UK), ASIC (Australia), or CySEC. If the broker is regulated & registered with more than 1 of these Top-tier Regulatory authorities, then we consider them to be safe for trading and depositing your funds.

 

🔎 Broker🚀 Open an AccountSpreads 📉Commissions 💸Swap Fees 🌙Inactivity Fee 💤Withdrawal Fees 💳
🥇 AvaTrade👉Open AccountFrom 0.9 pipsNoYes (varies)YesNo (varies by method)
🥈 HFM👉Open AccountFrom 0.0 pips (Zero Account)Yes (only Zero)YesYesVaries
🥉 ATFX👉 Open AccountFrom 0.6 pipsNo (Standard)YesNoYes
🏅 Tickmill👉Open AccountFrom 0.0 pips (Pro/Raw)$2 per sideYesNoFree for most methods
🎖️ Exness👉Open AccountFrom 0.1 pipsDepends on accountYesNoFree
🏆 easyMarkets👉Open AccountFixed from 0.8NoNo (swap-free optionNoYes
🥇 IC Markets👉Open AccountFrom 0.0 pips (Raw)$3.5 per sideYesNoFree for most methods
🥈 FP Markets👉Open AccountFrom 0.0 pips (Raw)$3 per sideYesNoYes (varies)
🥉 FxPro👉 Open AccountFrom 0.1 pipsYes (cTrader only)YesYesVaries
🏅 IFC Markets👉 Open AccountFrom 0.0 pipsNoNo (swap-free)NoFree

 

Leverage for traders in South Africa?

Leverage allows traders to use borrowed funds to increase their profits. The higher the leverage, the higher your potential profits are.

However, leverage is a double-edged sword, and using high leverage also boosts your potential losses. South Africa-based traders have access to aggressive leverage.

 

SA Shares Instagram 

 

Louis Schoeman

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

May 18, 2025

Louis Schoeman

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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