Introduction
Swing trading is an exciting way to play the markets and, with the right approach, come out on top. It’s a quick action-packed sector of the Forex trade industry and although there is plenty of risks involved, there is also a lot to be gained.
Swing trading is the term attributed to a medium-term approach to trading that traders will use when attempting to make some money on the way in which prices swing.
These are different types of swing trading, namely Breakout Trading where traders will position themselves at the start of an uptrend and they will watch carefully for the price to breakout to quickly enter the position when the price breaks; Reversal Trading where traders place all of their hopes on the price momentum; Retracement Trading that allows traders to temporarily reverse their trade when looking at the larger trend.
The primary benefit of swing trading is that the format needs less time to trade compared to day trading. Further, it maximizes profit in short term by capturing a chunk of potential price movement and the technical analysis is perfect and makes the trading process simple.
The 10 best brokers for swing trading in South Africa are:
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
eToro
Overview
eToro is a Cyprus-based forex broker with its headquarters in Limassol.
eToro connects traders to platforms that enable them to purchase and sell foreign currency. Retail currency traders, on the other hand, rely on these brokers to acquire access to the 24-hour foreign exchange market for speculating purposes.
Founded in 2006 and officially launched in January 2007, eToro has established itself as a pioneer in the global Fintech revolution, boasting the largest social trading and investment network. eToro is made up of the following entities, all of which are headquartered in Limassol, Cyprus:
eToro (UK) Limited is a financial services company authorized and regulated by the Financial Conduct Authority (FCA); eToro (Europe) Limited is a financial services company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC); and eToro AUS Capital Pty Ltd is a financial services company authorized and regulated by the Australian Securities and Investments Commission (ASIC) (ASIC).
Pros and Cons
| PROS | CONS |
| Demo accounts provided | Withdrawing money is slow and expensive |
| Digital account opening process | High forex fees |
| Credit/Debit card deposits are available | Only one account base currency |
| Low CFD fees | A withdrawal fee of $5 |
| No deposit fee | |
| Low minimum deposit | |
| Islamic accounts can be opened |
IC Markets
Overview
IC Markets is Sydney-based retail forex and contract for difference broker specializing in financial derivatives. IC Markets is a leading provider of CFDs on forex, stock indexes, commodities, bonds, and equities markets throughout Asia, Latin America, the Middle East, and Australia.
IC Markets was founded in 2007 and operates as an ECN broker, which implies that there is no dealing desk or other types of market intervention between the trader and the market. By 2025, the company will employ approximately 260 individuals.
IC Markets is owned by True ECN Trading Ltd, which has been regulated by the Australian Securities and Investments Commission (ASIC) since 2009, the Seychelles Financial Services Authority (FSA), and the Bahamas Securities Commission, while IC Markets (EU) is regulated by the Cyprus Securities and Exchange Commission (CySec) and complies with recent ESMA leverage and other regulatory requirements.
Pros and Cons
| PROS | CONS |
| Well regulated by reputable authorities | No negative balance protection |
| Low fees on Forex | No investor protection |
| Easy and digital account opening | Lack of research tools |
| Free deposit and withdrawals | |
| Trading platforms with sophisticated features |
AvaTrade
Overview
People may trade with confidence since AvaTrade, based in Ireland, was founded in 2006 with the objective of empowering people to do so. The company’s administrative headquarters are in Dublin, with sales offices in Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg. The company also has sales offices in other cities, including Paris, Milan, Sydney, Tokyo, and Johannesburg.
AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa, among other places. In line with its strong core values of honesty and innovation, AvaTrade strives to prioritize its customers by assisting traders of all levels and providing an enjoyable customer service experience for its customers.
The AvaTradeGO app, which has a user-friendly interface and cutting-edge capabilities, is available at any time and from any location in order to achieve this goal.
Pros and Cons
| Pros | Cons |
| Free and multiple deposits and withdrawal options | Offers only CFDs, forex, and cryptos to trade |
| Great educational tools provided | Research tools are quite limited |
| Easy and fast account opening | An inactivity fee is charged |
| No withdrawal fees charged | |
| Low trading fees |
XTB
Overview
XTB is a CFD, cryptocurrency, and FX broker that has offices in London and Warsaw, as well as an international presence. The company was founded in 2002 and today has offices in more than 10 different locations throughout the world. In addition to offering a personalized approach and an extensive selection of training resources, XTB is also known for having an award-winning platform. They are publicly traded on the Warsaw Stock Exchange and have more than 140,000 customers around the world. They trade on more than 1500 global marketplaces and are governed by a number of international regulatory bodies, including the Financial Conduct Authority (FCA) of the United Kingdom and the Polish Financial Supervision Authority (PZU) (KNF).
Pros and Cons
| PROS | CONS |
| Regulated by top-tier FCA | Limited product portfolio |
| Award-winning platform | Does not hold a banking license |
| Free and easy deposit and withdrawal | Poor email support |
| Negative balance protection | |
| A broad range of educational materials |
FP Markets
Overview
FP Markets is an Australian broker that was founded in 2005 and provides traders with access to contract for difference (CFD) trading in forex, indices, commodities, stocks, and cryptocurrencies at consistently tighter spreads and in superior trading conditions.
FP Markets is a worldwide trusted CFD and Forex broker that offers traders a comprehensive array of trading products and allows them to trade from a single account.
FP Markets is also fully licensed and further regulated by the Securities Commission of the Bahamas (SCB), a corporate regulator and financial watchdog.
Choosing FP Markets offers the investor a broker that complies with the most stringent regulations for protection.
FP Markets offers tighter spreads from 0.0 pips on its platforms and its Electronic Communication Network (ECN) pricing model is transparent so that traders can rely on institutional-grade liquidity from top-tier banks to ensure market-leading pricing.
FP Markets understands what traders require and has discovered that a combination of pricing, execution speed, cutting-edge platforms, product range, customer support, and market analysis is critical to providing clients with trade confidence.
Pros and Cons
| Pros | Cons |
| Offering 24/5 Multi-lingual support | Product portfolios are somewhat limited |
| Low Forex fees | Web and desktop platforms outdated |
| Fast and easy account opening | Stock CFD fees are high |
| Deposit and withdrawal quickly executed |
Pepperstone
Overview
Pepperstone is an Australian forex broker with offices in the US, UK, China, and Thailand.
Pepperstone earned acclaim for handling the Swiss National Bank-related FX crisis in 2015, avoiding losses with foresight and high-speed technology.
Pepperstone has won numerous accolades throughout the years, including Best Global Forex ECN Broker 2019, Best Forex Trading Support Europe 2019, Investment Trends Australia Number 1 for Spreads 2018, and more.
In addition to MT4 (desktop and web), MT4 Multi-terminal (MT5), and cTrader (desktop and web), Pepperstone offers cAlgo. Traders can use Razor or Standard accounts on any platform.
Pepperstone offers social copy trading via Tradency’s MirrorTrader and RoboX platforms, ZuluTrade, and myFxbook for MT4, as well as native signals markets from MT4 and cTrader.
Pros and Cons
| PROS | CONS |
| Account opening is fast and fully digital | Only forex, CFDs, and crypto to trade |
| Negative balance protection provided | No investor protection for non-EU clients |
| Several account base currencies are available | High bank withdrawal fee outside EU/Australia |
| Credit/Debit cards available for payments | |
| Free deposits and withdrawals |
RoboForex
Overview
Roboforex is a 2009-founded forex broker situated in Belize. The company has two entities: RoboForex, which has global services, and RoboMarkets Ltd, which is based in Cyprus, licensed by the IFSC and CySEC, and supports EU and EEA nations.
The broker services over 800,000 traders from 170 countries in 18 languages. It focuses on developing trade through creative technology and provides several current trading tools.
RoboForex has over 12,000 trading products in 8 asset classes. The broker’s leverage levels are set by numerous conditions and regulations. By proving your status and qualifying as a trader, you can apply for leverage of 1:400, 1:500, or even 1:2000.
Pros and Cons
| PROS | CONS |
| Tight spreads from 0 pips | Not properly regulated |
| Fast order execution | No fixed spread accounts can be opened |
| 8 asset classes available for trade | |
| Micro accounts with a minimum lot size of 0.01 | |
| 5 account currencies (EUR, USD, CNY, RUB, GOLD) are available |
Plus500
Overview
Plus500 was founded in 2008 and is a trusted CFD provider of South African merchants due to its FSCA licensing. Additionally, they are controlled by ASIC, CySEC, and the FSA and are publicly traded.
Plus500 provides a unique online and mobile platform.
Plus500 offers competitive variable spreads that vary according to the instrument and market conditions. Their spreads are particularly competitive for FX majors and cryptocurrency CFDs, and they offer leverage of up to 1:30 (depending on the trading instrument).
The broker requires an R1500 minimum deposit and does not charge any fees for deposits or withdrawals.
On their platform, they provide 15 Crypto CFDs.
Pros and Cons
| Pros | Cons |
| Regulated | Inactivity fees charged |
| User intuitive platform provided | Few research tools and educational resources |
| Low trading fees charged | Limited product portfolio available |
| Competitive pricing structure |
EasyMarkets
Overview
EasyMarkets is a Cyprus-based forex broker.
EasyMarkets gives traders access to one or more trading platforms where they can buy and sell currencies. Retail forex brokers are also known as currency traders. To speculate on the 24-hour currency market, retail traders use these brokers.
EasyMarkets began as EASY-FOREX in 2001, but in 2016 rebranded as EasyMarkets and added CFD trading.
Since then, EasyMarkets has won numerous honors for its services globally. The group of companies does not provide services to residents of the United States, Israel, Iran, Syria, Afghanistan, North Korea, Somalia, Yemen, Iraq, Sudan, South Sudan, British Columbia, Ontario, Manitoba, Equatorial Guinea, Guinea Bissau, Turkmenistan, Venezuela, Angola, Libya, Republic of Congo (Brazzaville), Democratic Republic of Congo, Chad, Haiti, Quebec, Cambodia, and Burundi, among others.
Spreads are significant, and the broker costs traders more for using its proprietary trading platform than its MT4 platform.
The broker’s WebTrader platform allows for minimal or no authentic trading activity.
Pros and Cons
| PROS | CONS |
| Up to 50% first deposit bonus offered to new traders | No cent account, VPS, and forex calculators. |
| Fixed spreads offered | High spreads compared to other brokers. |
| Innovative trading platform provided | |
| Responsive and professional client support | |
| No slippage and no commissions |
Trading212
Overview
Trading 212 is a registered trademark of Trading 212 UK Ltd. and Trading 212 Ltd.
Trading 212 began in Bulgaria in 2006 as Avus Capital before being incorporated in the United Kingdom in 2013. The company is now regulated by both the Financial Services Commission of Bulgaria and the Financial Conduct Authority of the United Kingdom.
Trading 212 UK Ltd. is a limited liability company registered in England and Wales (Register number 8590005), with its registered office at 43-45 Dorset Street, London, W1U 7NA. The UK Financial Conduct Authority has authorized and regulated Trading 212 UK Ltd.
Trading 212 Ltd. is a Bulgarian company (Register number 201659500). The Financial Supervision Commission has authorized and regulated Trading 212 Ltd. (Register number RG-03-0237).
Trading 212’s headquarters are now in London, England. With free, clever, and simple-to-use apps, the company provides access to the financial markets.
Trading 212 is well-known in the UK and Europe for its zero-commission stock trading service, which provides millions of traders with access to the stock market. Trading 212 allows investors to trade assets such as equities, currencies, commodities, stocks, indexes, and cryptocurrencies.
Although its headquarters are in the United Kingdom, Trading 212 has offices in Argentina, Chile, Mexico, China, Russia, Italy, Poland, Spain, Germany, and other nations.
Pros and Cons
| PROS | CONS |
| Regulated by the FCA and the FSC | Inactivity fee charged |
| Demo accounts available | Doesn’t allow scalping |
| Minimum deposit from $100 | Limited research selection |
| Zero commission charged | Does not allow EA software |
| Ideal for beginners and experienced traders | No Islamic or swap-free account offered |
| Minimum deposit from just $10 |
Top 4 Brokers
