Since its launch, MetaTrader 5 has slowly become an essential tool for South African traders with its seamless trading experience, advanced tools, and user-friendly interface.
Many local and international brokers now integrate MT5, which benefits South Africans.
However, our in-depth research identified 10 perfect matches for South Africans. Here’s what we cover in our article:
- What is MetaTrader 5, and Why Is It Popular in South Africa?
- Best MetaTrader 5 Brokers – An MT5 Comparison
- 10 Best MetaTrader 5 Forex Brokers (2025)
- Concluding Thoughts on MT5 Brokers
- MetaTrader 5 Brokers – Top FAQs
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Best MetaTrader 5 Brokers – An MT5 Comparison
| 🔎Broker | 👉 Open an Account | ✅ FSCA Regulated | 🇿🇦 ZAR Accounts | 💰 Min Deposit | ⚖️ Leverage | 💻Trading Platforms |
| 🥇 AvaTrade | 👉 Open Account | Yes | Yes | $100 | 1:30 (Retail) | MT4, MT5, AvaTradeGO, WebTrader |
| 🥈XM | 👉 Open Account | Yes | Yes | $5 | 1:1000 | MT4, MT5 |
| 📍Pepperstone | 👉 Open Account | No | No | $0 | 1:30 (Retail) | MT4, MT5, cTrader, TradingView |
| 🥉HFM | 👉 Open Account | Yes | Yes | $0 | 1:2000 | MT4, MT5, HFM App |
| 📌FXTM | 👉 Open Account | Yes | No | $200 | 1:2000 | MT4, MT5 |
| 📍FxPro | 👉 Open Account | Yes | Yes | $100 | 1:1000 | MT4, MT5, cTrader, FxPro Edge |
| 📌IC Markets | 👉 Open Account | Yes | No | $5 | 1:3000 | MT4, MT5, cTrader, TradingView |
| 📍EightCap | 👉 Open Account | No | No | $25 | 1:1000 | MT4, MT5, TradingView |
| 📌FP Markets | 👉 Open Account | Yes | Yes | AU$100 | 1:500 | MT4, MT5, IRESS, TradingView |
| 📌Exness | 👉 Open Account | Yes | Yes | $10 | Unlimited | MT4, MT5, Exness WebTrader |
What is MetaTrader 5, and Why Is It Popular in South Africa?
MetaTrader 5 (MT5) is a platform that is becoming more popular among South African traders.
Instead of just being another typical platform, MetaTrader 5 is indispensable as a comprehensive system for all South African traders, beginners, and professionals alike.
MetaTrader 5’s most notable feature is its user-friendliness.
It’s easy to navigate and makes trading a bit more approachable.
MetaTrader 5 is also ideal for South African traders who have adapted to remote trading using trading apps for iOS and Android.
MetaTrader 5 seamlessly synchronizes account information and trading activities across the board to the web and desktop platforms so you can connect from anywhere, anytime.
MetaTrader 5 supports all financial instruments offered by your broker, from forex, commodities, and indices to cryptocurrencies, shares, ETFs, you name it, all from a single account.
MetaTrader 5 doesn’t limit South Africans in terms of account currencies; if your broker lets you open and use a ZAR-denominated account, MetaTrader 5 allows it.
Several South African brokers support MetaTrader 5, providing a well-regulated, transparent, and secure trading environment where your funds (and personal information) are safeguarded.
10 Best MetaTrader 5 Forex Brokers (2025)
- ☑️AvaTrade – Overall, Best MetaTrader5 Broker
- ☑️XM – Popular Forex Broker for Experienced Traders
- ☑️Pepperstone – Full MetaTrader Suite
- ☑️HF Markets – Highly Regulated Broker Choice
- ☑️FXTM – Low Deposit MT5 Broker
- ☑️FXPro – Excellent MT5 Mobile Trading Experience
- ☑️IC Markets – Low Spread MT5 Broker
- ☑️EightCap – High Forex Trust Score
- ☑️FP Markets – Best MT5 Broker for Beginners
- ☑️Exness – Award-Winning MetaTrader5 Broker
1. AvaTrade
AvaTrade has become a staple in South Africa with its secure trading environment and access to over 1,260 instruments through MetaTrader 5 (mobile, web, desktop).
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
AvaTrade offers unique features like AvaProtect, where traders can safeguard their positions against loss while they benefit from deep liquidity and low latency.
Featured
| Feature |  |
| 💰 Minimum Deposit | $100 |
| 📈 Available Instruments | Forex, CFDs, Commodities, Indices, Crypto, Stocks |
| ⚖️ Leverage Options | Up to 1:400 (Retail), higher for professionals |
| 🛡 Regulatory Bodies | FSCA 🇿🇦, ASIC 🇦🇺, FSA 🇯🇵, CySEC 🇨🇾 |
| 🧾 Account Types | Retail, Professional, Islamic |
| 📊 Spread Types | Fixed & Variable |
| 💸 Commission Structure | Commission-free (built into spread) |
| 🔄 MT5 vs MT4 | Depth of Market (DOM), more order types, faster execution, integrated economic calendar |
| 🤖 Automated Trading | Fully compatible (EAs supported) |
| 🧰 Trading Tools & Indicators | Over 90+ built-in indicators, advanced charting |
| 🖥 User Interface | Customizable UI, multiple chart layouts |
| 🎓 Educational Resources | Webinars, video tutorials, eBooks, market analysis |
| 📞 Customer Service | 24/5 multilingual support, responsive live chat |
| 👶 Support for Beginners | Yes – AvaAcademy, demo accounts |
| 🇿🇦 ZAR Accounts | Available |
| 🧾 FSCA Compliance | Yes (FSP No. 45984) |
| 🧑💼 Local Support (SA) | Local office and support |
| 💳 Deposit/Withdrawal (SA) | EFT, bank cards, Skrill, Neteller, etc. |
| 🛡 Negative Balance Protection | Yes |
| ⛔ Stop-Loss/Take-Profit | Available |
| 📉 Margin Call Policy | Margin call at 50%, stop-out at 20% |
| 🔐 Data Encryption | SSL encryption standards |
| 🔐 Two-Factor Auth | Supported |
| 💼 Client Fund Protection | Segregated accounts, regulated safeguards |
| 📝Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy Account opening | Limited product portfolio |
| No withdrawal fee | Administration fee |
| Low trading fees | Inactivity fee |
| Negative balance protection | Not listed on stock exchange |
Our Findings
AvaTrade is one of the #1 brokers in South Africa that offers a regulated and feature-rich MT5 experience.
However, traders must consider the lack of a ZAR-based MT5 account and the broker’s inactivity fees, and how this can affect their overall trading.
2. XM
XM is a popular broker that serves over 190 countries, including South Africa. XM offers South Africans over 1,000 CFD instruments on MetaTrader 5.
XM’s MT5 platform offers fast execution with a 99.35% success rate under one second.
Min Deposit
USD 5
Regulators
FSC
FSA
CySEC
Trading Platform
MT4, MT5
Featured
| Feature | XM 🇿🇦 |
| 💰 Minimum Deposit | $5 |
| 📈 Available Instruments | Forex, Stocks CFDs, Indices, Commodities, Metals, Energies |
| ⚖️ Leverage Options | Up to 1:1000 (varies by region and entity) |
| 🛡 Regulatory Bodies | FSCA 🇿🇦, ASIC 🇦🇺, CySEC 🇨🇾, IFSC 🇧🇿 |
| 🧾 Account Types | Micro, Standard, XM Ultra Low, Shares |
| 📊 Spread Types | Variable (tight spreads) |
| 💸 Commission Structure | Zero commission on most accounts Ultra Low has raw-like spreads |
| 🔄 MT5 vs MT4 | More asset classes, advanced analytics, Depth of Market, economic calendar |
| 🤖 Automated Trading | Supports EAs & algorithmic trading |
| 🧰 Trading Tools & Indicators | 80+ technical indicators, multiple chart types, expert tools |
| 🖥 User Interface | Highly customizable; supports multi-window and multi-monitor use |
| 🎓 Educational Resources | Webinars, live sessions, trading courses, articles |
| 📞 Customer Service | 24/5 multilingual support, live chat, |
| 👶 Support for Beginners | ✅ Yes – robust learning hub, demo accounts |
| 🇿🇦 ZAR Accounts | Available |
| 🧾 FSCA Compliance | Yes (FSP No. 49976) |
| 🧑💼 Local Support (SA) | Local customer service available |
| 💳 Deposit/Withdrawal (SA) | Local bank transfers, cards, Skrill, Neteller, no deposit fees |
| 🛡 Negative Balance Protection | Guaranteed |
| ⛔ Stop-Loss/Take-Profit | Fully supported |
| 📉 Margin Call Policy | Margin call at 50%, stop-out at 20% |
| 🔐 Data Encryption | SSL-encrypted platform security |
| 🔐 Two-Factor Auth | Supported via client portal |
| 💼 Client Fund Protection | Segregated accounts, regulatory protection |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast digital account opening | Account types vary according to jurisdiction |
Our Findings
XM’s MetaTrader 5 offers a flexible, seamless trading experience, competitive spreads, and FSCA regulation for added security.
However, its inactivity fees and lack of managed accounts somewhat limit South African traders.
3. Pepperstone
Pepperstone is an award-winning Forex Broker that ASIC, FCA, and CMA fully regulate. Client funds are kept in segregated accounts, and multilingual support is available 24/5.
The Pepperstone MetaTrader5 platform offers fast processing times, the ability to hedge positions, and access to 38 built-in indicators plus 21 timeframes.
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Featured
| Feature | Pepperstone 🇿🇦 |
| 💰 Minimum Deposit | $0 |
| 📈 Available Instruments | Forex, Indices, Commodities, Shares, ETFs, Crypto CFDs |
| ⚖️ Leverage Options | Up to 1:400 (retail) |
| 🛡 Regulatory Bodies | FSCA 🇿🇦, ASIC 🇦🇺, FCA 🇬🇧, CySEC 🇨🇾, DFSA 🇦🇪 |
| 🧾 Account Types | Standard, Razor (low-spread) |
| 📊 Spread Types | Variable (Standard: all-inclusive Razor: raw + commission) |
| 💸 Commission Structure | Razor: $3.50 per side/lot Standard: No commission |
| 🔄 MT5 vs MT4 | MT5 offers more timeframes, advanced order types, better execution speed |
| 🤖 Automated Trading | Fully supports Expert Advisors (EAs) |
| 🧰 Trading Tools & Indicators | Smart Trader Tools, Autochartist, 80+ indicators |
| 🖥 User Interface | Intuitive, customizable layouts with multi-chart support |
| 🎓 Educational Resources | Webinars, tutorials, trading guides, market analysis |
| 📞 Customer Service | 24/5 multilingual live chat, phone, and email |
| 👶 Support for Beginners | ✅ Yes – demo accounts, beginner education series |
| 🇿🇦 ZAR Accounts | Available |
| 🧾 FSCA Compliance | ✅ Yes (FSP No. 49497) |
| 🧑💼 Local Support (SA) | Local office and support team |
| 💳 Deposit/Withdrawal (SA) | Bank transfers, credit/debit cards, PayPal, Skrill, Neteller |
| 🛡 Negative Balance Protection | ✅ Yes |
| ⛔ Stop-Loss/Take-Profit | Supported |
| 📉 Margin Call Policy | Margin call at 90%, stop-out at 50% |
| 🔐 Data Encryption | SSL encryption used |
| 🔐 Two-Factor Auth | Enabled via Secure Client Area |
| 💼 Client Fund Protection | Segregated client accounts, top-tier banking partners |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast Account Opening | Mostly CFDs Offered |
| Excellent Customer Support | Basic MetaTrader Platform |
| Negative Balance Protection | No Managed Accounts |
Our Findings
Pepperstone stands out for its ultra-low spreads, starting from 0.0 pips, and advanced trading platforms like MetaTrader 4 and 5. It is regulated by top authorities such as ASIC and the FCA.
4. HF Markets
HFM is a long-standing South African favorite. HFM is well-known and liked for its flexible account types and ZAR-based options.
HFM offers MetaTrader 5 with the added benefit of VPS hosting.
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Featured
| Feature | HFM 🇿🇦 |
| 💰 Minimum Deposit | $5 |
| 📈 Available Instruments | Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, ETFs |
| ⚖️ Leverage Options | Up to 1:1000 (retail) |
| 🛡 Regulatory Bodies | FSCA 🇿🇦, FCA 🇬🇧, CySEC 🇨🇾, DFSA 🇦🇪, FSA 🇲🇺 |
| 🧾 Account Types | Micro, Premium, Zero Spread, PAMM, HFCopy |
| 📊 Spread Types | Variable (tight), Zero Spread option available |
| 💸 Commission Structure | Zero Spread: Commission-based; Others: commission-free |
| 🔄 MT5 vs MT4 | MT5 includes DOM, more timeframes, and pending order types |
| 🤖 Automated Trading | Fully supports EAs and algorithmic trading |
| 🧰 Trading Tools & Indicators | Advanced charting, Autochartist, Premium Trader Tools |
| 🖥 User Interface | Sleek and customizable; multi-chart and multi-screen support |
| 🎓 Educational Resources | Webinars, video tutorials, eCourses, market outlooks |
| 📞 Customer Service | 24/5 multilingual support, live chat, phone, and email |
| 👶 Support for Beginners | Strong educational content and demo accounts |
| 🇿🇦 ZAR Accounts | Offered |
| 🧾 FSCA Compliance | ✅ Yes (FSP No. 46632) |
| 🧑💼 Local Support (SA) | Local offices and dedicated SA support |
| 💳 Deposit/Withdrawal (SA) | EFT, credit/debit cards, Skrill, Neteller, no deposit fees |
| 🛡 Negative Balance Protection | Guaranteed |
| ⛔ Stop-Loss/Take-Profit | Available |
| 📉 Margin Call Policy | Margin call at 50%, stop-out at 20% |
| 🔐 Data Encryption | SSL encryption protocols |
| 🔐 Two-Factor Auth | Supported |
| 💼 Client Fund Protection | Segregated funds, tier-1 banking, insurance coverage (varies by entity) |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Wide range of markets: Foreign Exchange, Stocks, Cryptocurencies, Gold, Silver, Copper, Government Securities, Mutual Funds, Exchange Traded Funds. | Offshore entities: Some regulations are in less secure offshore zones |
| Negative balance protection: But can’t lose more than its deposit. | No U.S. clients: Not available to U.S. traders |
| Multiple platforms: MetaTrader 4, MetaTrader 5, WebTrader, Mobile. | Basic research tools: Limited advanced analysis features |
| High leverage: Up to 1:2000 | Fees applicable when the account has been unused |
| Fast execution: Quick trades with low delays | Bonus restrictions: Bonuses vary by region |
| Strong regulation: FCA, FSCA, DFSA, FSA | Transparency on fees: Some fees are less clear, depending on account and region |
Our Findings
South Africans can expect a tailored experience with their ZAR-denominated accounts, a range of account types, and fast execution speeds through MetaTrader 5.
However, there are inactive fees and limited crypto deposit/withdrawal methods to consider.
5. FXTM
ForexTime, or FXTM, has a solid presence in South Africa. FXTM is locally regulated and offers a vast selection of CFD and forex trading instruments through MetaTrader 5.
FXTM’s MetaTrader suite includes advanced charting tools and automated trading options.
Min Deposit
USD 200
Regulators
FCA, FSC, FSCA
Trading Platform
MT4, MT5, FXTM Trader
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Featured
| Feature | FXTM 🇿🇦 |
| 💰 Minimum Deposit | $10 |
| 📈 Available Instruments | Forex, Commodities, Indices, Stocks, Metals, Crypto CFDs |
| ⚖️ Leverage Options | Up to 1:2000 (dynamic based on equity) |
| 🛡 Regulatory Bodies | FSCA 🇿🇦, CySEC 🇨🇾, FCA 🇬🇧, FSC 🇲🇺 |
| 🧾 Account Types | Advantage, Advantage Plus, Micro |
| 📊 Spread Types | Raw & variable spreads |
| 💸 Commission Structure | Advantage: Raw spreads + commission; others: commission-free |
| 🔄 MT5 vs MT4 | MT5 offers more instruments, faster backtesting, market depth, more timeframes |
| 🤖 Automated Trading | Supports EAs and algorithmic trading |
| 🧰 Trading Tools & Indicators | FXTM Pivot Points Strategy, trading signals, 30+ indicators |
| 🖥 User Interface | Modern and customizable, mobile & desktop compatibility |
| 🎓 Educational Resources | Webinars, articles, eBooks, videos, in-depth guides |
| 📞 Customer Service | 24/5 multilingual support, responsive live chat |
| 👶 Support for Beginners | Yes – beginner tutorials, demo account, free resources |
| 🇿🇦 ZAR Accounts | Offered |
| 🧾 FSCA Compliance | Yes (FSP No. 46614) |
| 🧑💼 Local Support (SA) | Local presence and regional support |
| 💳 Deposit/Withdrawal (SA) | EFT, cards, Skrill, Neteller, Ozow, local banks |
| 🛡 Negative Balance Protection | Yes |
| ⛔ Stop-Loss/Take-Profit | Fully supported |
| 📉 Margin Call Policy | Margin call at 80%, stop-out at 50% |
| 🔐 Data Encryption | SSL security standard |
| 🔐 Two-Factor Auth | Available via secure client portal |
| 💼 Client Fund Protection | Segregated accounts, compliant with regulatory protections |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast execution speeds | Bonus programs might be restricted in some regions. |
| High leverage (up to 1:2000) | High leverage can increase risk, especially for beginners. |
| Tight spreads on ECN accounts | Lower leverage options for EU/UK clients due to regulations (1:30 for retail traders). |
| Access to MetaTrader 4 & 5 | High inactivity fees if the account is dormant. |
| Good educational resources | Customer support can sometimes be slow during peak times. |
| Regulated by several authorities (FCA, CySEC, FSCA) | Limited product offering outside Forex (fewer stocks and indices). |
Our Findings
South Africans can expect a robust MetaTrader 5 trading experience with FXTM’s range of trading instruments, competitive spreads, high leverage, automation, and mobile trading options.
However, they don’t offer ZAR-denominated accounts and do not charge withdrawal fees.
6. FXPro
FxPro offers clients access to Contracts for Difference (CFDs) on 6 asset classes, top-tier liquidity, and advanced trade execution without dealing desk intervention.
FXPro MetaTrader5 is one of the most widely used platforms in the industry and comes with a long list of impressive features. FXPro MT5 features include:
- 38+ preinstalled technical indicators
- 44 analytical charting tools
- 3 chart types & 21 time-frames
- Detachable charts
- 1-click trading & trade from charts
- Trailing stop
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
Featured
| Feature | FxPro 🇿🇦 |
| 💰 Minimum Deposit | $100 |
| 📈 Available Instruments | Forex, Indices, Stocks, Futures, Commodities, Crypto CFDs |
| ⚖️ Leverage Options | Up to 1:200 (retail); dynamic leverage model |
| 🛡 Regulatory Bodies | FSCA 🇿🇦, FCA 🇬🇧, CySEC 🇨🇾, SCB 🇧🇸 |
| 🧾 Account Types | FxPro MT5, MT4, cTrader, and Edge |
| 📊 Spread Types | Variable (market execution), Raw (cTrader) |
| 💸 Commission Structure | MT5: No commission (spreads only) |
| 🔄 MT5 vs MT4 | MT5 supports more order types, asset classes, faster processing |
| 🤖 Automated Trading | EAs and algorithmic trading fully supported |
| 🧰 Trading Tools & Indicators | Over 50+ built-in indicators, economic calendar, trading calculators |
| 🖥 User Interface | Clean, user-friendly, highly customizable |
| 🎓 Educational Resources | Video tutorials, articles, trading tips, daily market updates |
| 📞 Customer Service | 24/5 multilingual support, fast live chat & email |
| 👶 Support for Beginners | ✅ Yes – educational content and demo accounts |
| 🇿🇦 ZAR Accounts | Available |
| 🧾 FSCA Compliance | ✅ Yes (FSP No. 45052) |
| 🧑💼 Local Support (SA) | Local client support available |
| 💳 Deposit/Withdrawal (SA) | EFT, bank cards, PayPal, Skrill, Neteller |
| 🛡 Negative Balance Protection | ✅ Yes |
| ⛔ Stop-Loss/Take-Profit | Supported on all account types |
| 📉 Margin Call Policy | Margin call at 40%, stop-out at 20% |
| 🔐 Data Encryption | SSL encryption protocols |
| 🔐 Two-Factor Auth | Available |
| 💼 Client Fund Protection | Segregated accounts, top-tier banking partners |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Segregates client funds | Not ASIC Regulated |
| Highly Regulated (FCA, SCB) | High trading fees |
| Low Minimum Deposit | Inactivity Fee |
| User-Friendly account registration | Only 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 Fees | Higher Spreads on Some Accounts |
| 24/5 Multilingual Support | No Social Trading Features |
Our Findings
FxPro offers a well-rounded trading experience with competitive spreads from 0.3 pips and access to various instruments, including forex, shares, and commodities. Major authorities like the FCA and CySEC regulate.
7. IC Markets
IC Markets is a renowned Forex CFD provider that offers low spreads, fast execution, and superior technology. IC Markets is regulated by the Financial Services Authority of Seychelles (FSA) and offers unrivaled 24/7 customer support.
IC Markets MetaTrader 5 is an all-in-one trading platform for forex, stocks, indices, bonds, cryptocurrencies, and CFDs on Commodities.
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
Featured
| 🔎Broker |  |
| 💰 Minimum Deposit | $200 |
| 📈 Available Instruments | Forex, Indices, Commodities, Bonds, Stocks, Futures, Crypto CFDs |
| ⚖️ Leverage Options | Up to 1:500 (retail clients) |
| 🛡 Regulatory Bodies | ASIC 🇦🇺, CySEC 🇨🇾, FSA 🇸🇨 |
| 🧾 Account Types | Raw Spread, Standard, Islamic |
| 📊 Spread Types | Raw (0.0 pips) & variable |
| 💸 Commission Structure | Raw: $3.5 per lot per side; Standard: No commission |
| 🔄 MT5 vs MT4 | MT5 offers more instruments, better performance, more order types |
| 🤖 Automated Trading | Full EA, algorithmic, and VPS support |
| 🧰 Trading Tools & Indicators | 80+ indicators, Autochartist, Trading Central, economic calendar |
| 🖥 User Interface | MT5 + proprietary tools, multi-device sync, high customizability |
| 🎓 Educational Resources | Webinars, articles, tutorials, market insights |
| 📞 Customer Service | 24/7 multilingual live chat, email & phone |
| 👶 Support for Beginners | Yes – strong educational base & demo accounts |
| 🇿🇦 ZAR Accounts | Not directly offered (USD, EUR, AUD, etc.) |
| 🧾 FSCA Compliance | Not regulated by FSCA |
| 🧑💼 Local Support (SA) | No local office but global support is responsive |
| 💳 Deposit/Withdrawal (SA) | Bank transfer, cards, PayPal, Skrill, Neteller, Crypto, Ozow |
| 🛡 Negative Balance Protection | Yes |
| ⛔ Stop-Loss/Take-Profit | Supported |
| 📉 Margin Call Policy | Margin call at 100%, stop-out at 50% |
| 🔐 Data Encryption | SSL 256-bit encryption |
| 🔐 Two-Factor Auth | Supported via secure client area |
| 💼 Client Fund Protection | Segregated client accounts with top-tier banks |
| 📝Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Forex Fees | Limited Product Selection |
| Easy Account Opening | Slow Chat Response |
Our Findings
IC Markets excels with some of the lowest spreads in the industry, starting from 0.0 pips. The broker provides access to a wide range of trading instruments, including forex, commodities, and indices. It is well-regulated by ASIC, CySEC, and SCB.
8. EightCap
EightCap is an award-winning Australian financial service provider that offers access to currencies (Forex), commodities, indices, cryptocurrencies, and shares to global customers. EightCap is well-regulated by ASIC and the SCB.
EightCap MT5 is a multi-asset trading platform that allows users to trade Forex, Indices, Commodities, or Shares.
Min Deposit
USD 100
Regulators
ASIC, FCA, CySec and SCB
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Featured
| Feature | EightCap 🇿🇦 |
| 💰 Minimum Deposit | $100 |
| 📈 Available Instruments | Forex, Indices, Commodities, Shares, Crypto CFDs |
| ⚖️ Leverage Options | Up to 1:500 |
| 🛡 Regulatory Bodies | ASIC 🇦🇺, SCB 🇧🇸 |
| 🧾 Account Types | Standard, Raw |
| 📊 Spread Types | Variable (Standard); Raw spreads (Raw account) |
| 💸 Commission Structure | Raw: $3.5 per side per lot; Standard: No commission |
| 🔄 MT5 vs MT4 | MT5 has more assets, better charting, faster execution |
| 🤖 Automated Trading | Supports EAs, VPS, and algorithmic trading |
| 🧰 Trading Tools & Indicators | 80+ indicators, TradingView integration, Capitalise.ai for no-code automation |
| 🖥 User Interface | Clean MT5 layout + extra tools like Cryptocrusher |
| 🎓 Educational Resources | Video tutorials, articles, blogs, webinars |
| 📞 Customer Service | 24/5 live chat, email, and multilingual support |
| 👶 Support for Beginners | ✅ Yes – demo accounts, tutorials, educational content |
| 🇿🇦 ZAR Accounts | Not available (supports USD, AUD, EUR, etc.) |
| 🧾 FSCA Compliance | Not regulated by FSCA |
| 🧑💼 Local Support (SA) | No local presence; global support available |
| 💳 Deposit/Withdrawal (SA) | Bank cards, Skrill, Neteller, Crypto, PayPal |
| 🛡 Negative Balance Protection | ✅ Yes |
| ⛔ Stop-Loss/Take-Profit | Available |
| 📉 Margin Call Policy | Margin call at 80%, stop-out at 50% |
| 🔐 Data Encryption | 256-bit SSL encryption |
| 🔐 Two-Factor Auth | Supported via secure portal |
| 💼 Client Fund Protection | Segregated accounts with top-tier banks |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Forex Fees | Slim Product Selection |
| Quick Account Application | Limited Research |
| Free Deposit and Withdrawal | Lack of Investor Protections |
Our Findings
Eightcap is an Australian-based broker known for offering competitive spreads and fast execution on MetaTrader 4 and 5 platforms. It provides a wide range of tradable assets, including forex, indices, commodities, and cryptocurrencies.
9. FP Markets
FP Markets is an Australian-based, multi-asset broker that offers access to CFDs across Forex, Shares, Indices, Commodities & Cryptocurrencies.
The FP Markets MT5 platform is available across desktops, the web, and multiple smart devices. MT5 Platform features include:
- Spreads from 0.0 pips
- Leverage up to 500:1
- 6 pending stop order types
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
Featured
| 📌Broker |  |
| 💰 Minimum Deposit | $100 |
| 📈 Available Instruments | Forex, Shares, Indices, Commodities, Bonds, Crypto CFDs |
| ⚖️ Leverage Options | Up to 1:500 |
| 🛡 Regulatory Bodies | ASIC 🇦🇺, CySEC 🇨🇾, FSCA 🇿🇦 |
| 🧾 Account Types | Standard, Raw, Islamic |
| 📊 Spread Types | Raw (from 0.0 pips) & variable |
| 💸 Commission Structure | Raw: $3 per side per lot; Standard: No commission |
| 🔄 MT5 vs MT4 | MT5 offers depth of market, more timeframes, better order control |
| 🤖 Automated Trading | Fully supports EAs and VPS |
| 🧰 Trading Tools & Indicators | Autochartist, Trading Central, 60+ indicators, Myfxbook, copy trading |
| 🖥 User Interface | Highly customizable, clean MT5 layout |
| 🎓 Educational Resources | Daily webinars, eBooks, articles, tutorials, courses |
| 📞 Customer Service | 24/5 multilingual live chat, phone & email |
| 👶 Support for Beginners | Yes – strong education & demo accounts |
| 🇿🇦 ZAR Accounts | Available |
| 🧾 FSCA Compliance | Yes (FSP No. 50926) |
| 🧑💼 Local Support (SA) | Yes – South African office/support |
| 💳 Deposit/Withdrawal (SA) | Bank transfer, Ozow, cards, Skrill, Neteller, crypto |
| 🛡 Negative Balance Protection | Yes |
| ⛔ Stop-Loss/Take-Profit | Supported |
| 📉 Margin Call Policy | Margin call at 100%, stop-out at 50% |
| 🔐 Data Encryption | SSL-secured servers |
| 🔐 Two-Factor Auth | Available |
| 💼 Client Fund Protection | Segregated with top-tier banks |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy and fast account opening | Limited product portfolio |
| Low trading fees | High CFD fees |
| Fast execution of trades | High minimum deposit |
| Low Forex fees | High fee for international bank withdrawal |
Our Findings
FP Markets offers a strong trading environment with competitive spreads starting from 0.0 pips and a broad selection of instruments, including forex, commodities, and indices. The broker is well-regulated by ASIC and the CySEC.
10. Exness
Exness is a popular multi-asset broker in South Africa with several ZAR-based accounts, instant withdrawals, and tight spreads.
Exness’ MetaTrader 5 integrates high-speed execution, deep liquidity, and automated trading solutions.
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Platform
MT4, MT5, WebTerminal, Exness Terminal
Crypto
Yes
Featured
| Feature | Exness 🇿🇦 |
| 💰 Minimum Deposit | From $10 |
| 📈 Available Instruments | Forex, Crypto CFDs, Indices, Metals, Energies, Stocks |
| ⚖️ Leverage Options | Up to unlimited (dynamic leverage) |
| 🛡 Regulatory Bodies | FSCA 🇿🇦, FCA 🇬🇧, FSA 🇸🇨 CySEC 🇨🇾 |
| 🧾 Account Types | Standard, Standard Cent, Raw Spread, Zero, Pro |
| 📊 Spread Types | Raw (0.0 pips), variable |
| 💸 Commission Structure | Zero & Raw: $3.50 per side; Standard: No commission |
| 🔄 MT5 vs MT4 | MT5 includes more asset types, economic calendar, DoM |
| 🤖 Automated Trading | EA-friendly, VPS available |
| 🧰 Trading Tools & Indicators | 50+ built-in indicators, economic calendar, Exness Terminal |
| 🖥 User Interface | Sleek MT5 + custom Exness Web Terminal |
| 🎓 Educational Resources | Webinars, articles, how-to guides, Exness Academy |
| 📞 Customer Service | 24/7 multilingual live chat, email, phone |
| 👶 Support for Beginners | Cent accounts, easy UI, strong education |
| 🇿🇦 ZAR Accounts | Offered |
| 🧾 FSCA Compliance | Regulated (FSP No. 51024) |
| 🧑💼 Local Support (SA) | South African support team available |
| 💳 Deposit/Withdrawal (SA) | Instant via EFT, Ozow, Skrill, Neteller, crypto, bank cards |
| 🛡 Negative Balance Protection | ✅ Yes |
| ⛔ Stop-Loss/Take-Profit | Fully supported |
| 📉 Margin Call Policy | Margin call at 60%, stop-out at 0–30% depending on account |
| 🔐 Data Encryption | SSL encryption |
| 🔐 Two-Factor Auth | Via client portal |
| 💼 Client Fund Protection | Segregated accounts with Tier-1 banks |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Tight spreads on major currency pairs | Limited range of trading instruments compared to some brokers |
| Multiple account types to suit different traders | Restricted availability of some features in certain regions |
| Fast and reliable order execution | Limited educational resources for beginners |
Our Findings
South Africans can expect tight spreads, ultra-fast execution, and several asset classes through MetaTrader 5.
However, Exness’ limited asset class portfolio and the risk of unlimited leverage won’t suit everyone.
Conclusion
MetaTrader 5 (MT5) is a highly popular trading platform among forex brokers due to its advanced features and flexibility.
These brokers offer tight spreads, fast execution, and a wide range of trading instruments, making them ideal for both novice and experienced traders.
You might also like: Tickmill Minimum Deposit
You might also like: Doo Prime Minimum Deposit
You might also like: HFM Minimum Deposit
You might also like: FBS Minimum Deposit
You might also like: AvaTrade Minimum Deposit
Frequently Asked Questions
Which is the most popular MT5 Broker Choice in South Africa?
According to research, XM is the most popular MT5 Broker choice amongst investors in South Africa.
Can MetaTrader5 be used without selecting a Broker?
No, to trade with MetaTrader5 or its predecessor, MetaTrader4, a brokerage account is required.
How do you choose the best MetaTrader5 forex broker?
The most important factor to consider when choosing a Metatrader5 forex broker is the Safety of the broker. Make sure that the broker is regulated and has top-tier licenses. Offshore brokers offering MetaTrader 5 should be avoided because of regulation issues.
What are the Pros of trading with MetaTrader5 forex brokers?
Choosing to trade with MetaTrader5 forex brokers includes multiple positive aspects, including charting tools, technical indicators, and timeframes.
Is MetaTrader5 a trusted platform?
Yes, MetaTrader5 is widely trusted and used across the globe.
