Overall, MasterCard is not only one of the most popular credit card brands in the world but it has also managed to become a top-tier banking solution for Forex traders globally. MasterCard will not only allow for quick, convenient and secure payments, the payment option is also widely supported by a varied range of platforms. As for Forex trading, MasterCard is one of the best services available. In order to make a deposit via MasterCard, an investor will need access to their card information, which will include the 16-digit number on the front, the expiry date, the card holder’s name, and the 3-digit CVV code on the back of the card.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Here is an overview of the 10 Best Forex Brokers and Trading Platforms accepting MasterCard.
Best MasterCard Forex Brokers and Trading Platforms – 12 Key Point Quick Overview
- ✅ AvaTrade
- ✅ FBS
- ✅ XM Group
- ✅ Pepperstone
- ✅ FXPro
- ✅ EasyMarkets
- ✅ JustForex
- ✅ IC Markets
- ✅ Alpari
- ✅ IG
- ✅ Conclusion
- ✅ Frequently asked questions
AvaTrade
AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting, and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC, and FCA.
Pros and Cons
| ✅ Avatrade Pros | ❎ Avatrade Cons |
| Used by 400,000+ traders | Doesn’t offer VPS |
| Well-Established | Not FCA Regulated |
Those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquainted with the popular MT4 forex trading platform. AvaTrade also offers mobile apps for Android and iOS.
Trading Benefits
| 📊 Avatrade Trading Features | 📒 Avatrade Accounts Offered | 💰 Avatrade Funding Methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Low min deposit | Mini account | PayPal |
| Standard account | Skrill | |
| Islamic account | Payoneer | |
| Neteller |
Customer support is available by email, phone, or live chat.
FBS
FBS is a Forex and CFD broker which is authorized and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).
Pros and Cons
| ✅ FBS Pros | ❌ FBS Cons |
| Negative Balance Protection | Limited Tradable assets |
| Excellent Regulation | Limited Trading Platforms |
| Available in Multiple Countries | |
| Award Winning Service |
FBS offers users the option to trade on Forex, Indices, Stocks, Metals, and Energies across the MetaTrader 4, MetaTrader 5, and FBS Trader trading platforms.
Trading Benefits
| 📊 FBS Trading Features | 📒 FBS Accounts Offered | 💰 FBS Funding Methods |
| Copy Trading | Cent | Wire Transfer |
| Rapid Order Execution | Micro | Credit/Debit |
| Standard | Neteller | |
| Zero Spread | Bit wallet | |
| ECN | Perfect Money |
Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber, and Facebook Messenger.
XM Group
XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.
Pros and Cons
| ✅ XM Group Pros | ❌ XM Group Cons |
| Low stock CFD and withdrawal fees | Limited product portfolio |
| Easy and fast account opening | Average Forex and stock index CFD fees |
| Great educational tools | No investor protection for non-EU clients |
XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, and Energies CFDs. Forex trading is available on over 55 pairs, including the major USD, GBP, EUR, and JPY pairs. Traders must take note that XM does not offer binary options or futures.
Trading Benefits
| 📊 XM Group Trading Features | 📒 XM Group Accounts Offered | 💰 XM Group Funding Methods |
| Negative Balance Protection | Micro | Wire Transfer |
| Low Spreads | Standard | Credit/Debit |
| Low Commission | XM Zero | Neteller |
| Hedging Allowed | UnionPay | |
| Scalping Allowed | WebMoney | |
| Qiwi |
Customer Service is available via live chat, Phone, and email support.
Pepperstone
Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).
Pros and Cons
| ✅Pros | ❎ Cons |
| Segregates client funds | Limited range of instruments |
Trading platforms on offer include MetaTrader 4, MetaTrader 5, and cTrader. All three FX trading platforms come with a free demo account which will allow traders to test out the forex broker and platform for 30 days.
Trading Benefits
| 📊 Pepperstone Trading Features | 📒 Pepperstone Accounts Offered | 💰 Pepperstone Funding Methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | PayPal |
| Low min deposit | MAM/PAMM account | Skrill |
| Offers Negative Balance Protection | Islamic account | Payoneer |
Pepperstone offers 24/5 multiple language support via email, phone, and live chat.
FXPro
FXPro is an online broker which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals, and Spot Energies trading. FXPro is a global broker with a head office located in the UK. FXPro is regulated by CySEC and operates under the CIF license number 078/07. As a CySEC-regulated broker, FXPro is also a member of the Investor Compensation Fund scheme. FXPro provides traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.
Pros and Cons
| ✅ Pros | ❎ Cons |
| Easy Account Opening | Only CFDs and Forex |
| Excellent Customer Service | High Trading Fees |
| Free Deposit and Withdrawal | Inactivity Fee |
With FXPro, the minimum, and maximum trade requirements vary depending on the trader and the instrument chosen.
Trading Benefits
| 📊 FXPro Trading Features | 📒 FXPro Accounts Offered | 💰 FXPro Funding Methods |
| Allows scalping | Micro account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Low min deposit | Standard account | PayPal |
| Negative Balance Protection | Islamic account | Payoneer |
| Neteller |
FXPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone, and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.
EasyMarkets
EasyMarkets is one of the most popular choices for Beginners and is regulated by CySEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:
- Enhanced risk management tools as standard
- Fixed spreads on all forex pairings
- An easy-to-use Forex trading platform
Pros and Cons
| ✅ EasyMarkets Pros | ❌ EasyMarkets Cons |
| Segregates client funds | Doesn’t offer VPS |
| Established in 2003 | Limited range of instruments |
| Regulated by CySEC and ASIC | Not FCA Regulated |
| Minimum deposit from $1 |
The available trading platforms offered are MT4 and the EasyMarkets web platform.
Trading Benefits
| 📊 EasyMarkets Trading Features | 📒 EasyMarkets Accounts Offered | 💰 EasyMarkets Funding Methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Low min deposit | Mini account | Payoneer |
| Guaranteed stop loss | Standard account | Neteller |
| Offers Negative Balance Protection | Islamic account |
Customer Support is available 24/5 via various chat channels, email, phone, and web forms.
JustForex
JustForex is a forex & CFD broker based in Saint Vincent and the Grenadines and is considered an unregulated forex broker. Clients have access to the full selection of underlying assets, including more than 60 popular forex pairs, a large selection of cryptocurrency pairs, as well as contracts-for-difference (CFDs) based on stock indices, precious metals, and oil. The trading platforms on offer are the MetaTrader 4 (MT4), which is available in versions for desktop, web, Apple iOS, and Android mobile devices.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Wide Range of Payments | US Traders are not accepted |
| Low minimum Deposit | Only Offshore Regulation |
| Swap-Free Accounts | Limited variety of instruments |
| Multiple Account Types | Lacks a top-tier regulatory license |
| Leverage up to 1:3000 | Inactivity Fee |
Trading Benefits
| 📊 JustForex Trading Features | 📒 JustForex Accounts Offered | 💰 JustForex Funding Methods |
| Hedging | Classic | Credit Cards |
| Scalping | NDD | Wire Transfer |
| One Click Execution | ECN | WebMoney |
| Pro ECN | FasaPay |
Customer support is available 24/7 via phone, email, and live chat for English speakers, plus dedicated customer support lines for Malaysia and Indonesia with more limited opening hours. Customer support can also be reached via several popular messaging platforms such as Telegram, WhatsApp, Facebook Messenger, and Line.
IC Markets
IC Markets is a regulated Forex ECN and CFD broker which offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks, and Futures on the MetaTrader 4, MetaTrader 5, and cTrader platforms for desktop, web, and mobile. IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).
Pros and Cons
| ✅ IC Markets Pros | ❌ IC Markets Cons |
| Segregates client funds | Limited range of instruments |
| Established in 2007 | Not FCA Regulated |
| Regulated by ASIC | |
| Minimum deposit from $200 |
IC Markets offers traders three main types of live trading accounts to choose from, including Raw Islamic swap-free accounts and the use of a free demo trading account.
Trading Benefits
| 📊 IC Markets Trading Features | 📒 IC Markets Accounts Offered | 💰 IC Markets Funding Methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | PayPal |
| Low min deposit | Zero spread account | Skrill |
| ECN account | Neteller | |
| Islamic account |
Customer support is available 24/7 via Live Chat, Phone, and Email.
Alpari
Alpari with its long-standing brand history, numerous offices, range of account types, and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms. Alpari is regulated by the FSC.
Pros and Cons
| ✅ Pros | ❎ Cons |
| Transparent | Limited Research Tools |
Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker. The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.
Trading Benefits
| 📊 Alpari Trading Features | 📒 Alpari Accounts Offered | 💰 Alpari Funding Methods |
| 250 tradable assets | Micro | Wire Transfer |
| PAMM Accounts | Standard | Credit/Debit |
| ECN | E-Wallets | |
| Pro MT4 | Cryptocurrency |
Customer Service is available via live chat, email, and phone service.
IG
IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.
Pros and Cons
| ✅ IG Pros | ❎ IG Cons |
| Used by 178,000+ traders | Inactivity Fee |
| Well-Established | Limited range of instruments |
The country of a trader’s residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs, and options. Traders can choose between two trading platforms, IG’s proprietary trading platform and MetaTrader 4.
Trading Benefits
| 📊 IG Trading Features | 📒 IG Accounts Offered | 💰 IG Funding Methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | PayPal |
| Low min deposit | Payoneer | |
| Guaranteed stop loss |
Customer Service is available 24/7 via Phone, Live Chat, and Email.
Conclusion
Overall, MasterCard is a great banking method for novice traders and experienced Forex traders alike. MasterCard is a payment method that is accepted on practically all platforms allowing for easy bankroll management. Furthermore, investors will be able to easily transact funds in either direction. MasterCard also offers added security features that improve the already amazing service on offer.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Frequently asked questions
What is Mastercard?
Mastercard is a multinational card payment gateway used to process payments between customers and merchants such as Forex Brokers.
Is Mastercard the same as Visa?
No. Visa and Mastercard are indeed both payment processing companies that handle online or in-store customer transactions. The difference between the two payment options is the different rewards and benefits on offer, plus their unique security features.
Who accepts Mastercard?
Mastercard will generally be accepted in multiple regions globally, by most major ATM machines, merchants, and Forex Brokers.
How can Mastercard be contacted?
If a trader experiences any form of payment problem, issues with their 3D Secure or have questions in general, the customer helpdesk can be contacted via telephone number.
Does Mastercard offer debit cards?
Yes. Mastercard does offer World Debit and standard debit cards.
Is MasterCard Safe?
Yes. MasterCard offers additional security measures such as the MasterCard SecureCode.
Are there any disadvantages to using MasterCard?
Yes. The main disadvantage of MasterCard is that withdrawals via MasterCard can be slow and take some time to process.
Top 4 Brokers
