Overview
When traders in South Africa evaluate a forex broker, one of the key considerations relates to the spreads that the broker charges.
The spread is the difference between the bid and asks the price and it is expressed in pips, which is the abbreviation for percentage in point, the smallest increment with which a price can either move up or down.
Spreads can often be the difference between either a profit or a loss, no matter how small, and they are typically applied in forex at a variable or fixed rate. The spread is one of the trading fees charged by brokers and a way for the broker to be compensated for the service they deliver in facilitating trades.
Whether the trader is charged tight/low or wide/high spreads will inevitably impact their budget and this is one reason why traders must consider the average spreads that they are charged. However, this is not the only reason why traders must compare spreads from different brokers before they register for a live trading account.
Another reason why traders need to consider spreads relate to the trading strategies that they use, specifically day trading or scalping, where low spreads are important. Scalpers and day traders rely on low spreads so that they can make small profits while trading multiple times in one trading day.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
OctaFX
Features
OctaFX is a forex broker headquartered in Saint Vincent and the Grenadines that serves traders from around the world. Octa offers competitive trading conditions to all traders, despite their level of experience.
Traders can also expect a wide range of tradable financial instruments, and competitive trading conditions that consist of tight spreads from 0.0 pips, ultra-low commissions, and high leverage up to 1:500.
Pros and Cons
| PROS | CONS |
| Sophisticated trading platforms | No UK or US clients |
| Flexible funding methods | |
| Commission-free trading | |
| AutoChartist and Octa Copy Trading App offered | |
| Negative balance protection applied to retail accounts |
Exness
Features
Exness is one of the most trusted forex brokers in South Africa and around the globe, offering retail traders and investors a plethora of trading opportunities while institutional and professional traders can expect advanced trading solutions.
Exness caters its offering to its clients according to their experience level and individual trading needs and objectives. With Exness, traders are granted tight and variable spreads, low commissions, and high maximum leverage ratios.
Pros and Cons
| PROS | CONS |
| High maximum leverage ratio | Multi-currency accounts are not offered |
| Well-regulated | No US Clients |
| Powerful trading platforms | |
| Wide range of tradable instruments | |
| Tight and competitive spreads | |
| Low commission charges |
FP Markets
Features
FP Markets is a well-regulated and reputable STP, DMA, and ECN forex broker which is based in Australia with a global customer base. FP Markets offers over 10,000 financial instruments that can be traded across several asset classes from forex, stocks, CFDs, to cryptocurrencies.
FP Markets has accumulated several industry awards since its establishment in 2005 and it is well-known as a reliable and industry-leading forex broker that offers competitive trading conditions, reliable trading software, and transparent fee schedules.
FP Markets offers traders with 0-pip spreads, low commission charges, and decent maximum leverage up to 1:500.
Pros and Cons
| PROS | CONS |
| Well-regulated | Clients from the US are not accepted |
| Wide range of tradable instruments | Fixed spreads are not provided |
| ECN pricing model and raw, tight spreads | |
| No requotes and no dealing desk (NDD) | |
| No inactivity fees |
Vantage FX
Features
Vantage FX is a well-regulated, reputable forex broker that offers flexible trading conditions, versatile trading platforms, and a choice of trading accounts that suit the trading need and objectives of traders despite their trading experience.
Vantage FX is well-known for its award-winning customer support, range of tradable instruments, variety of useful trading tools, flexible funding options, and educational materials and resources.
When using Vantage FX to facilitate trades, traders can expect competitive trading conditions that consist of 0-pips spreads, low commissions, and flexible leverage up to 1:500.
Pros and Cons
| PROS | CONS |
| ECN and STP execution | US clients are not accepted |
| More than 300 tradable instruments | EU clients have restricted leverage |
| Commission-free trading offered | Fixed spreads are not offered |
| ProTrader tools offered | |
| Trading Central offered |
RoboForex
Features
Established in 2009, RoboForex is a well-known ECN, STP, and Market Maker forex broker that offers a massive portfolio of financial instruments along with flexible and competitive trading conditions.
RoboForex caters to both beginner and professional traders and offers the use of powerful trading platforms through which trades can be executed seamlessly. Traders also have a choice in trading accounts and access to negative balance protection which is applied automatically to retail accounts.
With RoboForex, traders can expect 0-pip spreads, ultra-low commissions, and flexible leverage.
Pros and Cons
| PROS | CONS |
| Negative balance protection applied to retail accounts | US clients not accepted |
| Multi-award-winning broker | EU clients have restricted leverage |
| More than 9,400 tradable instruments | Fixed spreads not offered |
| Verify My Trade offered | |
| Financial Commission member |
Key to Markets
Features
Key to Markets is a well-regulated and trusted ECN forex broker that offers a decent selection of tradable instruments. Traders can trade these instruments through MetaTrader 4 across several devices.
Key to Markets has been offering comprehensive trading solutions for more than a decade and has an impressive customer base of retail traders as well as professional investors. Traders are given an innovative, dynamic, and safe trading environment where they can trade global financial markets.
Key to Markets is also a No-Dealing Desk (NDD) and ECN broker that offers traders tight spreads from 0.0 pips, competitive commissions on trades, and decent maximum leverage up to 1:500.
Pros and Cons
| PROS | CONS |
| Well-regulated | US clients are not accepted |
| Client funds are kept in segregated accounts | No cryptocurrency trading |
| FIX API and MetaTrader 4 offered | Limited trading tools |
| Free VPS for eligible clients | Limited educational materials |
| PAMM solutions |
HotForex
Features
HotForex is one of the most popular forex brokers in the industry because of its innovative, tailor-made trading services and solutions that it offers to both retail and institutional traders from around the world.
HotForex is a multi-asset, multi-regulated broker that offers traders a large range of tradable financial instruments which are spread across several asset classes. Traders can also choose from a variety of different trading accounts and between powerful trading platforms, allowing traders to find what suits their trading needs and objectives best.
Pros and Cons
| PROS | CONS |
| Well-regulated | US clients are not accepted |
| Strong global presence | |
| Competitive trading conditions | |
| Variety of retail investor accounts to choose from | |
| Powerful and reliable trading platforms offered |
Tickmill
Features
Established in 2015, Tickmill is another popular forex broker that has made a good name for itself, despite only being in operation for the past 6 years. Tickmill is a multi-regulated forex and CFD broker that caters to both retail and institutional traders.
With Tickmill, traders are given access to global financial markets, powerful trading platforms, a range of trading tools, and a safe and secure environment where client funds are kept in segregated accounts with top-tier banks.
Tickmill offers traders competitive conditions that consist of 0-pip spreads, low commission charges, and an industry-standard minimum deposit of $100 (1,400 ZAR).
Pros and Cons
| PROS | CONS |
| Multi-regulated | US clients not accepted |
| Negative balance protection is provided for retail accounts | Restricted leverage for EU clients |
| Client fund segregation | Fixed spreads not offered |
| Commission-free trading offered | Limited educational material |
| VPS and FIX API offered | Cryptocurrency trading is not offered |
XM
Features
XM is another popular name in the forex trading industry with millions of users from 196 countries around the world. XM offers advanced and sophisticated, yet user-friendly trading solutions and competitive trading conditions that consist of tight spreads from 0.0 pips, and ultra-low commissions on trades.
XM offers flexible funding methods, high leverage up to 1:888, and negative balance protection which is automatically added to all retail trading accounts. Traders are also given a choice between powerful, reliable trading platforms available across several different devices.
Pros and Cons
| PROS | CONS |
| Multi-award winning | No US Clients |
| Well-regulated | No fixed spreads |
| Flexible funding methods | Inactivity fees charged on dormant accounts |
| Competitive trading conditions | |
| The range of trading strategies supported |
Axi
Features
Axi was founded in 2007 and it is a multi-regulated and multi-asset ECN and STP broker headquartered in Australia and the United Kingdom, with corresponding regulations to operate in several worldwide regions.
Axi offers traders competitive trading conditions that consist of 0.0 pips, low commissions, and transparent non-trading fees.
Pros and Cons
| PROS | CONS |
| User-friendly trading solutions | No US Clients |
| Commission-free trading | Restricted leverage for EU clients |
| Social trading offered | |
| Educational materials provided | |
| Zero deposit and withdrawal fees | |
| Powerful trading tools |
Blueberry Markets
Features
Blueberry Markets is an Australian-based ECN and STP broker that offers traders access to more than 350 financial instruments that can be traded through the powerful MetaTrader trading platforms.
With Blueberry Markets, forex traders can expect tight and competitive spreads that start from 0.0 pips, with competitive leverage ratios, access to free VPS for eligible customers, and decent leverage ratios.
Pros and Cons
| PROS | CONS |
| Well-regulated | US clients are not accepted |
| User-friendly trading platform | |
| Commission-free trading | |
| Tight spreads and reliable trade execution | |
| Free VPS | |
| Superior customer service |
FBS
Features
FBS is one of the most trusted ECN and STP forex brokers that has been in operation since 2009, offering an impressive portfolio of financial instruments to traders from around the world.
Both beginner and professional traders will benefit from using the unique, comprehensive trading solutions that FBS offers, including competitive trading conditions that consist of low, variable spreads from 0.0 pips, competitive commission charges, and low minimum deposit requirements.
FBS also offers a plethora of trading opportunities, social trading opportunities, and dedicated customer support to all traders.
Pros and Cons
| PROS | CONS |
| Low minimum deposit requirement | US, Japan, Israel, Canada, and some other regions not accepted |
| Range of trading instruments | High spreads on cent accounts |
| CopyTrade offered | Inactivity fee charged |
| Demo account offered | |
| Dedicated customer service | |
| Competitive trading conditions |
IC Markets
Features
Established in 2007, IC Markets is one of the largest true ECN brokers in the industry that guarantees rapid trade executions, deep liquidity obtained from trusted providers, and a safe regulated trading environment.
IC Markets is regulated by several different entities and offers both retail and professional traders a variety of trading accounts to choose from, with various commission-free trading options that are available.
Traders can expect competitive and flexible trading conditions that include 0-pip spreads, low and competitive commissions, and high leverage ratios.
Pros and Cons
| PROS | CONS |
| Well-regulated | No fixed spreads |
| Low trading and non-trading fees | No US Clients |
| True ECN model | |
| Variety of trading strategies allowed | |
| Social trading supported |
Exness
Features
Exness is a popular, trusted, and well-regulated forex broker that offers its comprehensive trading solutions to traders from around the world. Exness offers traders the use of powerful trading platforms through which a wide range of instruments can be traded.
Exness offers traders some of the best trading conditions in the industry, including 0-spread pips, advanced trading tools, educational materials, and competitive commissions.
Pros and Cons
| PROS | CONS |
| High maximum leverage ratio | Multi-currency accounts are not offered |
| Well-regulated | No US Clients |
| Powerful trading platforms | |
| Wide range of tradable instruments | |
| Tight and competitive spreads | |
| Low commission charges |
FXDD
Features
FXDD is a well-regulated and popular ECN and Market Maker broker based in Malta and Mauritius. Traders are provided with a plethora of trading opportunities when they use FXDD to facilitate their trades.
Traders also have access to powerful trading platforms and advanced trading tools that help them improve their trading decisions. In addition, FXDD is also known for offering competitive trading conditions that include 0-pip spreads and low commission charges.
Pros and Cons
| PROS | CONS |
| Well-regulated | US clients not accepted |
| Client funds kept in segregated accounts | Restricted leverage for EU clients |
| Negative balance protection applied to retail accounts | Fixed spread accounts not offered |
| Member of an investor compensation scheme | Limited funding options |
| Commission-free trading | |
| Trading Central and free VPS |
FXTM
Features
FXTM is a popular, well-regulated, multi-asset online forex broker that has been in operation since 2011. Traders have a choice between 250 financial instruments spread across different asset classes.
FXTM also offers its traders competitive trading conditions, access to powerful and reliable trading platforms, reliable trade execution speeds, and educational materials for different trading experience levels.
Traders can also expect variable spreads from 0.0 pips, ultra-low commission charges, advanced trading tools, and a safe trading environment overseen by reputable market regulators.
Pros and Cons
| PROS | CONS |
| Well-regulated | Inactivity fee charged |
| Flexible trading accounts | US clients not accepted |
| Tight spreads | |
| Low minimum deposit | |
| Advanced trading tools |
FAQ
What is the spread and what is a pip?
The spread can simply be defined as the difference between the bid and ask price, indicated in pips. Pips are the smallest increment that a price on security can increase or decrease.
What are the tightest spreads offered in Forex?
The tightest spreads start from 0.0 pips.
Why are low spreads important in forex trading?
They are important as they mean lower trading costs for traders, and they are also ideal for scalpers and day traders who make a profit on quick trades.
Are these Forex brokers well-regulated and safe to use?
Yes, these brokers are some of the best forex brokers in the industry in terms of safety, regulation, and transparency.
Which Forex brokers offer the best low spreads in 2025?
The brokers discussed in this article are the best forex brokers that offer the lowest spreads.
Do these forex brokers offer demo accounts?
Most of these forex brokers offer demo accounts that can be used either as practice accounts, or risk-free environments to test and back-test trading strategies.
Are these forex brokers safe to use?
Yes, these forex brokers are well-regulated and guarantee client fund security by using segregated accounts.
Top 4 Brokers
