All Share (J203) = 89 062
Rand / Dollar = 18.40
Rand / Pound = 23.21
Rand / Euro = 19.22
Gold (usd/oz) = 2 932.67
Platinum (usd/oz) = 978.08
Brent (usd/barrel) = 75.87
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 February 2025*)

 

🛡️Regulated brokers tested against 37 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, 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

 

In this in-depth write-up, you will learn:

  • The Top 10 Forex Brokers in South Africa for (2025) – an in-depth List.
  • FSCA Regulated Forex Brokers
  • Low Spread Forex Brokers South Africa
  • Zero Commission Forex Brokers South Africa
  • Best Forex Trading Platforms South Africa
  • Best brokers to withdraw and deposit your funds without any hassles.
  • Best Forex Brokers for Beginners in South Africa

 

 

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

🔎 Broker🚀 Open an Account💰 Fee Structure💷 Min. Deposit (USD)💳 Deposit & Withdrawal🖥️ Platform Usability & Features
🥇 AvaTrade👉Open AccountFixed spreads,
No commission
USD 100 / ZAR 1796Fast deposits,
free withdrawals
MT4,
MT5,
AvaTradeGO,
WebTrader
🥈 HFM👉Open AccountLow spreads,
Zero-commission accounts
USD 0 / ZAR 0Instant deposits,
low withdrawal
MT4,
MT5,
HFM App
Copy Trading
🥉 ATFX👉 Open AccountCompetitive spreads,
No hidden fees
USD 100 / ZAR 1796No deposit fees,
quick withdrawals
MT4,
WebTrader
Social Trading
🏅 Tickmill👉Open AccountRaw spreads from 0.0 pips,
Low commission
USD 100 / ZAR 1796Fast & free transactionsMT4,
MT5,
Tickmill Trader
🎖️ Exness👉Open AccountTight spreads,
No deposit fees
USD 10 / ZAR 179Multiple options, instant depositsMT4,
MT5,
Exness Terminal
🏆 easyMarkets👉Open AccountFixed spreads,
No slippage
USD 25 / ZAR 449 No fees,
fast withdrawals
MT4,
easyMarkets Web/App
🥇 IC Markets👉Open AccountInstant deposits,
same-day withdrawals
USD 200 / ZAR 3592Instant deposits,
fast withdrawals
MT4,
MT5,
cTrader
🥈 FP Markets👉Open AccountLow fees,
quick processing
USD 100 / ZAR 1796Fast processing,
No hidden fees
MT4,
MT5,
cTrader
🥉 FxPro👉 Open AccountFast transactions, moderate feesUSD 100 / ZAR 1796Multiple methods,
fast processing
MT4, MT5,
cTrader,
FxPro Edge
🏅 Octa👉Open AccountFree deposits,
fast withdrawals
USD 25 / ZAR 449Free deposits,
Fast withdrawals
MT4,
MT5,
OctaTrader

 

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

  1. ☑️AvaTrade – Overall, the Best Forex Broker in South Africa for 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. ☑️Octa – 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.

 

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

 

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.

 

Overview

Company Information
📅Year Founded2006
🧑🏻‍💻Amount of staff614
👩‍💻Amount of active traders300,000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationCBI,
BVI FSC,
ASIC,
FSCA,
ADGM,
FRSA,
ISA
🌎Country of regulationIreland,
Australia,
Japan,
South Africa,
Abu Dhabi,
British Virgin Islands, European Union, Polish Branch.
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes, Up to €20,000 under CySEC Investor Compensation Fund (ICF) (for EU clients) |
* Up to AUD$250,000 under ASIC Client Money Protection Scheme (CMPS) (for Australian clients) |
Account Types and Features
➕AccountsStandard Account,
Retail Islamic account,
Professional account
💳Institutional AccountsYes
👨‍💼Managed AccountsAvaTrade offers copy trading (AvaSocial) but doesn't directly manage accounts.
📇Minor account currenciesAUD,
JPY,
GBP,
USD,
EUR,
CHF
💰Minimum Deposit$100 USD
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeFree up to a certain amount
📊Spreads from0.7 pips
💸CommissionsNo
💱Number of base currencies supportedOver 50
🚀Swap FeesOvernight financing fees apply
📈LeverageUp to 400:1
📏Margin requirements0.50%
☪️Islamic account (swap-free)Yes,
available upon request
💻Demo AccountYes
⌛Order Execution TimeTypically within milliseconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 1,250+
🗠CFD Stock IndicesMajor global indices
(e.g., US 30, FTSE 100, DAX 30)
⚖️CFD CommoditiesPrecious metals (gold, silver),
Energy
(oil, gas),
Agricultural
(wheat, corn)
📜CFD SharesThousands of shares from various global exchanges (US, Europe, Asia)
Deposits and Withdrawals
💳Deposit OptionsCredit/debit cards,
bank transfers,
electronic wallets.
💵Withdrawal OptionsMust be sent via the same payment method used for deposit
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4 (MT4) * MetaTrader 5 (MT5) * AvaTrade WebTrader * AvaTrade Mobile App * AvaOptions (for options trading) * DupliTrade & ZuluTrade (for copy trading)
👩‍💻OS CompatibilityWindows,
macOS,
Web,
Mobile
(Android, iOS)
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/7
📱Customer Support email addressOnline email on website
📞Customer Support Contact Number+447520644093
👾Social media PlatformsFacebook,
Twitter,
Instagram
🗣️Languages supported on WebsiteOver 14 languages, including English, Spanish,
French,
German,
Italian,
Arabic,
Russian,
Portuguese
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners70 000
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
👉Open AccountOpen 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.

 

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

 

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.

 

Overview

Company Information
📅Year Founded2010
🧑🏻‍💻Amount of staff500+
👩‍💻Amount of active traders300,500 000 mil
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFSCA,
DFSA,
FSC,
CMA.
FCA
🌎Country of regulationUK,
South Africa,
Cyprus
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsPremium Account,
Zero Spread Account,
Pro Account,
HFcopy Account
💳Institutional AccountsYes
👨‍💼Managed AccountsNot offered
📇Minor account currenciesAUD,
GBP,
USD,
EUR,
CAD,
CHF,
JPY,
SGD,
HUF,
PLN,
NZD,
ZAR
💰Minimum Deposit$0 USD
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeFree up to a certain amount
📊Spreads from0.1 pips
💸CommissionsNo
💱Number of base currencies supportedOver 50
🚀Swap FeesOvernight financing fees apply
📈Leverage1:30
📏Margin requirements0.50%
☪️Islamic account (swap-free)Yes, available upon request
💻Demo AccountYes
⌛Order Execution TimeTypically within milliseconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 500+
🗠CFD Stock IndicesYes,
HFM offers CFDs on major global stock indices,
including US30 (Dow Jones),
UK100 (FTSE), and many more.
⚖️CFD CommoditiesYes,
HFM provides CFDs on a variety of commodities, including Gold,
Oil,
and others.
📜CFD SharesYes,
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 OptionsCredit/debit cards,
bank transfers,
electronic wallets.
💵Withdrawal OptionsMust be sent via the same payment method used for deposit
Trading Platforms and Tools
💻Trading PlatformsHFM Platform, MT4
👩‍💻OS CompatibilityWindows,
macOS,
Web,
Mobile (Android, iOS)
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/5
📱Customer Support email addresssupport.za@hfm.com
📞Customer Support Contact Number+27-104 439 924
👾Social media PlatformsFacebook, Twitter, Instagram
🗣️Languages supported on Website27 languages
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes,
HFM offers a multi-award winning affiliate program with competitive commissions, marketing tools, and dedicated support.
👨‍🏫Amount of partners41 000
📋IB ProgramYes,
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 programYes
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 AccountOpen Account

 

HFM Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
FSCA Regulated US 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.

 

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

 

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.

 

Overview

🔎Broker🥇ATFX
Company Information
📅 Year Founded2014
🧑🏻‍💻 Amount of staff500+ employees
👩‍💻 Amount of active traders200,000+ traders
🌐 Publicly Traded (Listed Company)No
Regulation and Security
🛡️ RegulationFCA (UK), CySEC (Cyprus), ASIC (Australia), FSCA (South Africa), FSC (Mauritius), SCA (UAE), SCA(Jordan)
🌎 Country of regulationUnited Kingdom, Cyprus, Australia, South Africa, Mauritius, UAE, Jordan
💻 Account SegregationYes
🪫 Negative balance protectionYes
🔋 Investor Protection SchemesUp to £85,000 (FSCS - UK)
Account Types and Features
➕ AccountsStandard, ECN
💳 Institutional AccountsYes
👨‍💼 Managed AccountsNo
📇 Minor account currenciesUSD, ZAR
💰 Minimum DepositR100
Trading Conditions
🕞 Deposit/withdrawal processingInstant for deposits, same day for withdrawals
🪙 Fund Withdrawal FeeNo fees
📊 Spreads from0.6 pips (Standard), 0.0 pips (ECN)
💸 CommissionsNo (Standard), Yes (ECN accounts)
💱 Number of base currencies2 (ZAR & USD)
🚀 Swap FeesYes
📈 LeverageUp to 1:500
📏 Margin requirementsDepends on the asset class and leverage
☪️ Islamic account (swap-free)No
💻 Demo AccountYes
⌛ Order Execution Time0.01 seconds (Ultra-fast execution)
📆 VPS HostingYes (for higher-tier accounts)
Trading Instruments
🧾 CFDs-Total Offered65
🗠 CFD Stock Indices15+
⚖️ CFD Commodities8
📜 CFD SharesNone
Deposits and Withdrawals
💳 Deposit OptionsBank Transfer, Credit/Debit Cards, Instant EFT
💵 Withdrawal OptionsBank Transfer
Trading Platforms/Tools
💻 Trading PlatformsMT5, ATFX WebTrader, Mobile App
👩‍💻 OS CompatibilityWindows, MacOS, iOS, Android
🖥️ Forex trading toolsTrading Central, Auto - Chartist
Customer Support
🗣️ Live chat availabilityYes
📱 Customer Support Emailsupport.sa@atfxafrica.com
📞 Customer Support Contact Number+27 31 300 3117
👾 Social media PlatformsFacebook, Twitter, LinkedIn, Instagram
🗣️ Languages supportedMost local SA languages
Educational Resources and Support
🖺 Forex courseYes
🧏‍♀️ WebinarsYes
📚 Educational ResourcesYes (eBooks, videos, articles)
Partnerships and Programs
🪪 Affiliate program?Yes
👨‍🏫 Amount of partners1,000+
📋 IB ProgramYes
🚀 SponsorshipYes (varies by region)
🪙 Rebate programYes
👉Open AccountOpen 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.

 

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

 

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 regulates all major financial markets.

 

Overview

🔎BrokerTickmill
Company Information
📅Year Founded2014
🧑🏻‍💻Amount of staff441
👩‍💻Amount of active tradersOver 400 000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFSA, FCA, CySEC, Labuan FSA, FSCA
🌎Country of regulationSeychelles, UK, Cyprus, Malaysia, South Africa
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsPlus account and Raw account
💳Institutional AccountsYes
👨‍💼Managed AccountsYes
📇Minor account currenciesUSD, EUR, GBP, ZAR
💰Minimum Deposit$100 USD
Trading Conditions
🕞Average deposit/withdrawal processing timeInstant to 1 business day
🪙Fund Withdrawal FeeFree, but may vary based on payment method and account type
📊Spreads from0.0 pips
💸CommissionsVaries by account type, often commission-free
💱Number of base currencies supported4
🚀Swap FeesOvernight financing fees apply
📈LeverageUp to 1:1000
📏Margin requirements50%
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeTypically within milliseconds
📆VPS HostingYes, for an additional fee
Trading Instruments
🧾CFDs-Total OfferedOver 725
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Deposits and Withdrawals
💳Deposit OptionsCredit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT)
💵Withdrawal OptionsCredit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT)
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), MetaTrader WebTrader, MetaTrader for Mac, Tickmill Mobile App
👩‍💻OS CompatibilityWindows, macOS, iOS, Android
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/5
📱Customer Support email addresssupport@tickmill.com
📞Customer Support Contact NumberSouth Africa: +278 7250 0696
International: +852 5808 7849
👾Social media PlatformsFacebook, Twitter, Instagram
🗣️Languages supported on Website17 Languages
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners9000+
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
👉Open AccountOpen 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.

 

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

 

The CBCS, CySEC, FCA, FSA, FSC, FSCA, and CMA act as regulatory bodies that govern Exness while they both ensure 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.

 

Overview

Company Information
📅Year Founded2008
🧑🏻‍💻Amount of staffOver 2,100
👩‍💻Amount of active tradersOver 320,000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA
🌎Country of regulationCyprus
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsStandard, Raw Spread, Standard Cent, Zero, Pro
💳Institutional AccountsYes
👨‍💼Managed AccountsYes
📇Minor account currenciesEUR/USD & USD/JPY
💰Minimum Deposit$10 / R179
Trading Conditions
🕞Average deposit/withdrawal processing timeInstant to 1 business day
🪙Fund Withdrawal FeeFree, but may vary based on payment method and account type
📊Spreads from0.3 pips
💸CommissionsVaries by account type, often commission-free
💱Number of base currencies supported+40
🚀Swap FeesOvernight financing fees apply
📈LeverageUp to 1:2000
📏Margin requirements50%
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeTypically within milliseconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 200
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Deposits and Withdrawals
💳Deposit OptionsCredit/Debit Cards,
Bank Transfers,
E-Wallets
(Skrill, Neteller, etc.),
Cryptocurrencies (Bitcoin, Ethereum, etc.)
💵Withdrawal OptionsCredit/Debit Cards,
Bank Transfers,
E-Wallets
(Skrill, Neteller, etc.),
Cryptocurrencies
(Bitcoin, Ethereum, etc.)
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5),
Exness Trade
👩‍💻OS CompatibilityWindows,
macOS,
iOS,
Android
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/7
📱Customer Support email addresssupport@exness.com
📞Customer Support Contact Number+35725030959
👾Social media PlatformsFacebook,
Twitter,
Instagram
🗣️Languages supported on Website15 Languages
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partners64 000
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes, sponsorship agreement with LALIGA, the top professional football division in Spain
🪙Rebate programYes
South African Trader Specific Information
Does Exness Accept South African Traders?Yes
Is Exness regulated by the South African regulatory body (FSCA)?Yes
Does Exness offer an Affiliate Program for South African Traders?Yes
Does Exness allow opening trading accounts in ZAR (South African Rand)?Yes
👉Open AccountOpen 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.

 

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

 

South African traders find the guaranteed stop loss and dealCancellation 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.

 

Overview

Company Information
📅Year Founded2001
🧑🏻‍💻Amount of staffOver 300
👩‍💻Amount of active tradersOver 142,000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationCySEC (Cyprus),
ASIC (Australia),
FSA (Seychelles)
🌎Country of regulationCyprus,
Australia,
Seychelles
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes, through regulatory bodies
Account Types and Features
💳Institutional AccountsNo
👨‍💼Managed AccountsNo
📇Minor account currenciesEUR,
GBP,
AUD,
CAD,
CHF,
JPY
💰Minimum Deposit$100 USD
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeNone
📊Spreads from0.7 pips on major currency pairs
💸CommissionsNo
💱Number of base currencies supported5
(USD, EUR, GBP, AUD, JPY)
🚀Swap FeesNo
📈Leverage1:2000
📏Margin requirementsVariable based on asset and leverage
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeInstant Execution
📆VPS HostingNo
Trading Instruments
🧾CFDs-Total OfferedOver 200
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Deposits and Withdrawals
💳Deposit OptionsBank Transfer, Credit/Debit Cards, PayPal,
Skrill,
Neteller,
Sofort
💵Withdrawal OptionsBank Transfer, Credit/Debit Cards, PayPal,
Skrill,
Neteller
Trading Platforms and Tools
💻Trading PlatformseasyMarkets WebTrader, MetaTrader 4, easyMarkets Mobile App
👩‍💻OS CompatibilityWeb-based
(All major browsers),
iOS,
Android
🖥️Forex trading toolsDealCancellation,
Freeze Rate,
Inside Viewer
Customer Support
🗣️Live chat availabilityYes
📱Customer Support email addresscs@easymarkets.com
📞Customer Support Contact Number+357 25 828 899
👾Social media PlatformsFacebook,
Twitter,
LinkedIn,
YouTube
🗣️Languages supported on WebsiteEnglish,
Chinese,
Arabic,
Spanish,
Polish,
more
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesTrading guides,
eBooks,
Video tutorials
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersNot publicly disclosed
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes, Real Madrid Football Club (Former Sponsor)
🪙Rebate programYes
👉Open Account👉 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.

 

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

 

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.

 

Overview

🔎BrokerIC Markets
Company Information
📅Year Founded2007
👨‍💼 Current CEOAndrew Budzinski
🏗️ Founder/sAndrew Budzinski
🧑🏻‍💻Amount of staff852
👩‍💻Amount of active traders180,000+
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationCySEC,
ASIC,
SCB,
FSA
🌎Country of regulationAustralia, Cyprus, Seychelles
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
🔐 Two-step AuthenticationYes
Account Types and Features
➕AccountscTrader,
Raw Spread,
standard
💳Institutional AccountsYes
👨‍💼Managed AccountsYes
📇Minor account currenciesAUD,
USD,
JPY,
EUR,
NZD,
SGD,
GBP,
CAD,
HKD,
CHF,
RMB,
💰Minimum Deposit$200 USD
Trading Conditions
🕞Average deposit/withdrawal processing timeInstant for deposits, 1-2 business days for withdrawals
🪙Fund Withdrawal FeeFree, but may vary based on payment method and account type
📊Spreads fromFrom 0.0 pips
💸Commissions$3 per lot per side
💱Number of base currencies supported10+
🚀Swap FeesOvernight financing fees apply
📈LeverageUp to 1:500
📏Margin requirements100 USD traded, 1 USD margin
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeTypically within milliseconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total Offeredover +2200
🗠CFD Stock Indices25+
⚖️CFD Commodities22+
s
📜CFD Shares1,600+
👀 Watch listYes
📢 Trade AlertsNo
📉 Trading Stocks with GPYes
📊 Trading Indices with GPYes
💱 Swap on the trading boardYes
Deposits and Withdrawals
💳Deposit OptionsCredit Card,
Debit Card,
PayPal,
Skrill,
Neteller,
UnionPay,
Wire Transfer,
Bpay,
FasaPay,
Poli
💵Withdrawal OptionsCredit Card,
Debit Card,
PayPal,
Skrill,
Neteller,
UnionPay,
Wire Transfer,
Bpay,
FasaPay,
Poli
🎁 Welcome BonusNo
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader
👩‍💻OS CompatibilityWindows,
Mac (via emulation), Android,
iOS
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes 24/7
📱Customer Support email addresssupport@icmarkets.com (General)
📞Customer Support Contact NumberThailand: +661800011956
Indonesia: +6280332160329
Colombia: +5718005190364
Vietnam: +8412032513
👾Social media PlatformsFacebook,
Twitter,
Instagram
🗣️Languages supported on Website15 +
Educational Resources and Support
🎓 Beginners Trader friendly UXYes
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes, articles, videos, and tutorials
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersOver 2 500+
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes, the Qatar Economic Forum 2025
🪙Rebate programYes
💬 Community ForumNo
South African Trader Specific Information
🌐 Official Website addresswww.icmarkets.com
👍 Official Facebook PageYes
🐦 Official Twitter PageYes
▶️ Official Youtube ChannelYes
🏢 Official Linkedin PageYes
📸 Official Instagram PageYes
🌍 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 AccountOpen 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

CMTrading Rev

 

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.

 

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

 

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.

 

Overview

Company Information
📅Year Founded2005
🧑🏻‍💻Amount of staff274
👩‍💻Amount of active tradersOver 200,000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationASIC, CySEC, FSCA, FSA, FSC
🌎Country of regulationAustralia, Cyprus
💻Account SegregationYes
🪫Negative balance protectionYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsStandard, Raw ECN, and VIP accounts available
💳Institutional AccountsYes, tailored solutions for institutional clients
👨‍💼Managed AccountsYes, offered through third-party managed account services
📇Minor account currenciesUSD, EUR, GBP, AUD, JPY, and others
💰Minimum Deposit$100 USD
Trading Conditions
🕞Average deposit/withdrawal processing timeDeposits are typically processed instantly; withdrawals usually within 1-2 business days
🪙Fund Withdrawal FeeGenerally no fees for withdrawals; may vary based on method
📊Spreads fromSpreads start from 0.0 pips on Raw ECN accounts
💸CommissionsFrom $3.5 per side per lot on Raw ECN accounts
💱Number of base currencies supportedOver 10 base currencies including USD, EUR, GBP, AUD, JPY, and others
🚀Swap FeesSwap fees apply; may vary depending on the position and account type
📈LeverageUp to 1:500 depending on the account type and instrument
📏Margin requirementstypically 0.2% - 1%
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeTypically 40-50 milliseconds on Raw ECN accounts
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 1,000 CFDs across various asset classes
🗠CFD Stock IndicesYes,Major global indices including S&P 500, NASDAQ, FTSE 100, DAX, and more
⚖️CFD CommoditiesYes, Includes commodities such as Gold, Silver, Oil, Natural Gas, and more
📜CFD SharesYes, A wide range of global stocks from major markets including US, UK, EU, and Asia
Deposits and Withdrawals
💳Deposit OptionsCredit/Debit Cards, Bank Transfers, PayPal, Skrill, Neteller, and other e-wallets
💵Withdrawal OptionsBank Transfers, Credit/Debit Cards, PayPal, Skrill, Neteller, and other e-wallets
Trading Platforms and Tools
💻Trading PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS
👩‍💻OS CompatibilityWindows, Mac (via emulation), Android, iOS
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes, available 24/5
📱Customer Support email addresssupport@fpmarkets.com
📞Customer Support Contact Number+61 2 8252 6800 (Australia) or +44 20 8068 0760 (UK)
👾Social media PlatformsFacebook, Twitter, Instagram
🗣️Languages supported on WebsiteEnglish, Chinese, Arabic, and other major languages
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersOver 100,000 affiliates
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
South African Trader Specific Information
Does FP Markets Accept South African Traders?Yes
Is FP Markets regulated by the South African regulatory body (FSCA)?Yes
Does FP Markets offer an Affiliate Program for South African Traders?Yes
Does FP Markets allow opening trading accounts in ZAR (South African Rand)?Yes
👉Open AccountOpen 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.

 

Min Deposit

USD 100

Regulators

FCA, CySEC, FSCA, SCB

Trading Platform

MT4, MT5

Crypto

No

Total Pairs

70

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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.

 

Overview

Company Information
Company NameFxPro
🏢 Company InformationFxPro Group Limited
📅 Year Founded 2006
👩‍💼👨‍💼 Current CEOCharalambos Psimolophitis
👩‍💼👨‍💼 Founder/sDenis Sukhotin
👥 Amount of staffOver 200 employees
👨‍💻 Amount of active tradersOver 1.8 million
📈 Publicly Traded (Listed Company)No
🇬🇧 Regulation and SecurityStrong regulatory oversight
🇬🇧 RegulationFCA, CySEC, FSCA
🇬🇧 Country of regulationUK, Cyprus, South Africa
💼 Account SegregationYes, funds are segregated
🚫 Negative balance protectionYes
🔐 Two-step AuthenticationAvailable
🛡️ Investor Protection SchemesYes, under regulatory authorities
📋 Account Types and FeaturesStandard, MT4, MT5, and cTrader accounts
🏦 Institutional AccountsYes
📊 Managed AccountsNo
💱 Minor account currenciesUSD, EUR, GBP, ZAR
💰 Minimum Deposit$100 / 1700 ZAR
📊 Trading ConditionsCompetitive spreads, fast execution
⏳ Average deposit/withdrawal processing time1-2 business days
💵 Fund Withdrawal FeeNo fees on most methods
📉 Spreads from0.0 pips
💸 CommissionsOn cTrader accounts (from $4.5)
🌍 Number of base currencies supported7
📈 Swap FeesYes, applicable on overnight trades
📈 LeverageUp to 1:500
📊 Margin requirements2%
🌙 Islamic account (swap-free)Yes
🎓 Demo AccountYes, unlimited
⏱️ Order Execution Time< 11ms
☁️ VPS HostingAvailable for high-frequency traders
🌍 Global OfficesUK, Cyprus, Bahamas, Dubai
👆 One-Click TradingYes
🤖 Expert AdvisorsSupported on MT4/MT5
📊 Trading InstrumentsForex, Stocks, Indices, Metals, Energy
📊 CFDs-Total OfferedOver 2000 instruments
📈 CFD Stock IndicesYes, major global indices
🛢️ CFD CommoditiesYes, energy and metals
📉 CFD SharesYes, large selection
👀 Watch listCustomizable
🔔 Trade AlertsYes
📈 Trading Stocks with GPYes
📊 Trading Indices with GPYes
🛠️ Swap on trading boardYes
💳 Deposits and WithdrawalsCredit/Debit cards, Bank Wire, PayPal, Skrill, Neteller
💳 Deposit OptionsMultiple methods supported
💸 Withdrawal OptionsSame as deposit methods
🎁 Welcome BonusNo
💻 Trading Platforms and ToolsMT4, MT5, cTrader, FxPro Edge
🚦 Stop-loss InstrumentYes
🛡️ Investor Protection SchemesYes, under regulatory bodies
🖥️ OS CompatibilityWindows, macOS, iOS, Android
🔧 Forex trading toolsYes, extensive
💬 Customer Support24/5 support available
💬 Live chat availabilityYes, 24/5
📧 Customer Support Email addresssupport@fxpro.com
📞 Customer Support Contact Number+44 (0) 203 151 5550
🌐 Languages supported on FxPro Website18 languages
📚 Educational Resources and SupportWebinars, articles, video tutorials
👍 Beginners Trader friendly UXYes
📚 Forex courseYes, basic to advanced
🖥️ WebinarsYes
📖 Educational ResourcesYes, rich library
🤝 Partnerships and ProgramsYes
🤝 Affiliate program?Yes
🤝 Amount of partners10,000+
📈 IB ProgramYes
⚽ Do they sponsor any notable events or teams?Yes, McLaren F1 team
💰 Rebate programYes, for IBs
🗨️ Community ForumNo
📱 Social Media PlatformsFacebook, Twitter, Instagram, YouTube, LinkedIn
🌐 Official Website addressFxPro
📘 Official Facebook PageFxPro
🐦 Official Twitter PageFxPro
📺 Official YouTube ChannelFxPro
🔗 Official Linkedin PageFxPro
📸 Official Instagram PageFxProGlobal
🇿🇦 Regulatory Status in South AfricaFSCA regulated
🇿🇦 Accept South Africa Traders?Yes
🏛️ Is FxPro regulated by the South Africa regulatory body (FSCA)?Yes
🤝 Does FxPro offer an Affiliate Program for South African Traders?Yes
💱 Does FxPro allow accounts to be opened in ZAR / Rands?Yes
🚀 Open AccountOpen Account

 

FxPro Forex Trading

 

Pros and Cons

✅ Pros❌ Cons
Segregates client fundsNot ASIC Regulated
Highly Regulated (FCA, CySEC, FSCA)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. Octa

Octa Review

 

The South African market favors Octa as its leading Forex broker because the company provides affordable spreads alongside quick trade execution and accounts catering to traders with different experience levels.

The trading environment at Octa enables access to more than 100 trading instruments that include Forex alongside commodities and indices for South African traders.

 

Min Deposit

USD 25

Regulators

CySEC, MISA, FSCA and FSC

Trading Platform

MT4, MT5, OctaTrader

Crypto

Yes

Total Pairs

52

Islamic Account

Yes

Trading Fees

No

Account Activation

24 Hours

 

CySEC, MISA, FSCA, and FSC regulate the broker which provides trading tools through MetaTrader 4 and MetaTrader 5 while ensuring flexibility in trading platforms.

This broker is well-regarded because of its open policy alongside its dedication to protecting their client information.

 

Overview

Company Information
📅Year Founded2011
Current CEODarrell E. Johnson
Founder/sGeorgios D. Pantzis
🧑🏻‍💻Amount of staff694
👩‍💻Amount of active tradersOver 1,000,000
🌐Publicly Traded (Listed Company)No
Regulation and Security
🛡️RegulationCySEC, MWALI, FSCA
🌎Country of regulationCyprus, Union of the Comoros, South Africa
💻Account SegregationYes
🪫Negative balance protectionYes
Two-step AuthenticationYes
Stop-loss InstrumentYes
🔋Investor Protection SchemesYes
Account Types and Features
➕AccountsOctaTrader Account, MT4, MT5
💳Institutional AccountsNo
👨‍💼Managed AccountsNo
📇Minor account currenciesUSD, EUR
💰Minimum Deposit$25 / R447
Trading Conditions
🕞Average deposit/withdrawal processing time1-3 business days
🪙Fund Withdrawal FeeNo
📊Spreads from0.6 pips
💸CommissionsNone
💱Number of base currencies supported2 (USD, EUR)
🚀Swap FeesYes
📈LeverageUp to 1:1000
📏Margin requirementsmargin requirement of 50%
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
⌛Order Execution TimeIn seconds
📆VPS HostingYes
Trading Instruments
🧾CFDs-Total OfferedOver 277
🗠CFD Stock IndicesYes
⚖️CFD CommoditiesYes
📜CFD SharesYes
Trading Indices with GPYes
Trading Stocks with GPYes
Swap on trading board Yes
Deposits and Withdrawals
💳Deposit Optionscredit cards, debit cards, bank transfers, e-wallets (like Skrill, Neteller), and cryptocurrency
💵Withdrawal OptionsThe same as deposit options
Trading Platforms and Tools
💻Trading PlatformsOctaTrader, MetaTrader 4, MetaTrader 5
👩‍💻OS CompatibilityWeb, Mobile (iOS and Android)
🖥️Forex trading toolsYes
Customer Support
🗣️Live chat availabilityYes, available 24/7
📱Customer Support email addresssupport@octafx.com
📞Customer Support Contact NumberN/A
👾Social media PlatformsFacebook, Twitter, Instagram
🗣️Languages supported on WebsiteEnglish, Arabic, Chinese, Indonesian, Malay, Thai, and Vietnamese
Educational Resources and Support
🖺Forex courseYes
🧏‍♀️WebinarsYes
📚Educational ResourcesYes
Partnerships and Programs
🪪Affiliate program?Yes
👨‍🏫Amount of partnersOver 4,600
📋IB ProgramYes
🏃‍♂️‍➡️Do they sponsor any notable events or teams?Yes
🪙Rebate programYes
Commission FeeNone on most accounts
Social Platforms
Official Facebook PageYes
Official Twitter Pageyes
Official Youtube Channelyes
Official Linkedin Pageyes
Official Instagram Pageyes
Official Website addressyes
South African Trader Specific Information
Does Octa Accept South African Traders?Yes
Is Octa regulated by the South African regulatory body (FSCA)?Yes
Does Octa offer an Affiliate Program for South African Traders?Yes
Does Octa allow opening trading accounts in ZAR (South African Rand)?Yes
👉Open AccountOpen Account

 

Octa Forex Broker

 

Pros and Cons

✅ Pros❌ Cons
Octa offers powerful trading platforms that cater to different tradersOcta has no local office in South Africa
The platform offers a diverse set of trading instrumentsOcta is not regulated by any Tier-1 regulatory entities
Octa Group is regulated with 1 Tier-2 regulation CySEC (372/18). Their entity ‘Orinoco Capital (Pty) Ltd’ is Authorized under FSCA.The demo account expires after 30 days
Octa accepts South African Rand (ZAR) transactionsThere may be a perceived conflict of interest as a market maker when Octa earns from client losses
No commission on trading with any account type. Their spreads are low.The minimum deposit is $25 or equivalent in ZAR if you are using bank transfer.

 

Our Findings

Octa is a famous online investing service provider that is often viewed as having a more user-friendly interface than its contemporaries.

 

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$1From 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

 

Best Forex Brokers in South Africa

 

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

 

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 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.

 

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.

4.5/5 - (64 votes)

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

February 16, 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.