Overview
Many forex brokers today as a rule offer the ability for traders to deposit funds using debit cards, which makes the process of finding one much easier today. However, what matters the most relates to finding a well-regulated and trusted forex broker with the necessary regulation, client fund protection, and safety protocols that allows traders to fund their accounts with debit cards safely.
Some of the best forex brokers that accept deposits and withdrawals using debit cards are listed below.
AvaTrade
Features
AvaTrade is an award-winning CFD and forex trading broker that has been in operation for the past 15 years, providing traders access to over 1,250 financial instruments spread across different currency pairs, cryptocurrencies, commodities, options, shares, and more.
AvaTrade offers traders access to competitive forex trading costs, an innovative mobile trading app, and a wide range of flexible funding options between the bank accounts of traders and their retail investor account, including bank transfers, credit cards, debit cards, and a wide range of electronic payment gateways.
AvaTrade is well-known for offering comprehensive educational resources, trading services, advanced trading tools, and the fact that traders can use any type of retail strategy.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Variable spreads are not offered |
| Provides access to different innovative trading platforms | US clients are not accepted |
| Social trading platforms provided | |
| Traders can use any type of trading strategy including hedging, scalping, and others | |
| A decent number of funding options offered | |
| Traders do not need to pay deposit or withdrawal fees |
Vantage FX
Min Deposit
USD 50
Regulators
CIMA, SIBL, ASIC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
38
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
Vantage FX is one of the largest online brokers in the industry that offers traders a choice between different retail investor accounts that suit different trading needs and objectives.
Vantage FX is well-known for its award-winning customer service, versatile trading solutions, and advanced trading tools.
Traders can also expect a wide range of educational resources and fast funding methods. Vantage FX offers some of the best spreads that are sourced from top-tier liquidity providers, which means that traders can expect spreads from 0.0 pips.
The Liquidity Providers that Vantage FX uses include J.P Morgan, BNP Paribas, Citibank, Goldman Sachs, Bank of America, and more.
Pros and Cons
| PROS | CONS |
| Well-regulated by several entities | US clients are not accepted |
| ECN and STP trade execution model | EU clients can expect leverage restrictions |
| Offers more than 300 tradable financial instruments | Fixed spreads are not offered |
| Commission-free trading offered | |
| Educational resources provided | |
| Social trading supported |
FP Markets
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
Features
FP Markets is an Australian-based ECN, STP, and DMA broker that has regulations and authorisation through the ASIC, CySEC, and SVG FSA to provide traders access to over 10,000 different financial instruments spread across several markets.
FP Markets is an award-winning trading provider that offers reliable and transparent trading conditions with tight spreads, fast execution, and low trading costs overall. FP Markets is well-known as a broker for beginners and advanced traders, offering a user-friendly forex trading platform for investment purposes and foreign exchange transactions across different currency pairs.
FP Markets is one of many online brokers that offers competitive forex trading apps and a wide range of flexible funding payment methods that include wire transfers, credit cards, debit cards, and several online payment gateways.
Pros and Cons
| PROS | CONS |
| FP Markets is a well-regulated broker | Fixed spreads are not offered |
| Massive range of markets offered | US clients are not accepted by FP Markets |
| FP Markets provides an ECN pricing model with raw and tight spreads | |
| There are no requotes and trades are executed through an NDD model | |
| Commission-free trading is offered | |
| Inactivity fees are not charged |
IC Markets
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
Features
IC Markets is one of the largest true ECN brokers in the world that has been operating since 2007, with some of the most competitive trading conditions and innovative trading technology that connects traders to global financial markets.
IC Markets is regulated in several regions and provides traders with some of the best trade execution speeds across different financial markets. IC Markets offers commission-free trading accounts in addition to free account funding options spread across different methods.
IC Markets has dedicated customer service and a wide range of educational resources dedicated to beginner traders, with advanced trading tools that cater specifically for advanced traders.
Pros and Cons
| PROS | CONS |
| IC Markets is a multi-regulated ECN broker | Fixed spreads are not offered |
| Traders can expect a choice between trading platforms | US clients are not accepted |
| There is a decent selection of tradable instruments | |
| Traders can benefit from free deposit and withdrawal options | |
| Supports a wide range of trading strategies | |
| Social trading is supported and there are no inactivity fees |
Interactive Brokers
Min Deposit
USD 0
Regulators
CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF
Trading Platform
Proprietary Platforms
Crypto
Yes
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Features
Established in 1978, Interactive Brokers is one of the largest online brokers in the world, providing sophisticated trading solutions and a wide range of markets to retail traders and professional investors.
Interactive Brokers offers traders a choice between different retail investor accounts and flexible, powerful trading platforms that can be used on the web, desktop platforms, and different mobile trading apps, providing traders with true flexibility in their daily trading activities.
Interactive Brokers is based in the United States with offices that are located around the world. Interactive Brokers uses innovative “SmartRouting” to find the best market prices possible.
This ensures that all client orders can be executed at the best possible prices. The SmartRouting technology used by Interactive Brokers connects 125 markets across 31 different countries, with an average trading volume of more than 860,000 trades on any given trading day.
Pros and Cons
| PROS | CONS |
| Multi-regulated and reputable forex broker | Fixed spreads are not offered |
| Offers innovative trading technology | Restricted leverage offered |
| Competitive trading conditions guaranteed | Limited payment options |
| Offers comprehensive trading education | |
| Offers a choice between advanced trading tools | |
| Popular and trusted forex broker |
CMC Markets
Min Deposit
USD 0
Regulators
FCA, IIROC, ASIC, FMA, MAS
Trading Platform
MT4
Crypto
Yes
Total Pairs
158
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Features
CMC Markets is a United Kingdom-based Market Maker broker that is regulated and authorised by the Financial Conduct Authority (FCA), ASIC, MAS, FMA, and IIROC.
CMC Markets has an impressive portfolio of more than 10,000 financial instruments that can be traded through powerful, innovative trading platforms across several devices.
In addition, CMC Markets also offers a comprehensive analysis, advanced trading tools, and a choice between different educational materials.
CMC Markets is one of the largest forex and CFD trading brokers in the world and one of few listed on the London Stocks Exchange (LSE) under the ticker symbol CMCX.
Pros and Cons
| PROS | CONS |
| Well-regulated by strict market entities | FIX API is not provided |
| Client funds are kept in segregated accounts with top tier banks | Spreads are marked-up |
| Member of the Financial Services Compensation Scheme | US Clients are not accepted |
| Provides access to MetaTrader | Copy trading is not offered |
| There is no minimum deposit required to start trading | |
| Innovative trading tools including Module Linking and Pattern Recognition |
Forex.com
Min Deposit
USD 100
Regulators
CIMA
Trading Platform
MT4, MT5, Proprietary Platform
Crypto
No
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Features
Forex.com is a well-regulated and globally-recognised STP, ECN, and DMA broker that has been in operation for over two decades. Forex.com provides traders access to more than 4,500 financial instruments including more than 80 currency pairs, thousands of shares, and several others.
Forex.com is one of the only forex brokers that has an execution scorecard which is proof of its lightning-fast and reliable trade execution speeds. Forex.com has an industry-leading trading infrastructure and traders can expect access to innovative trading technology.
Pros and Cons
| PROS | CONS |
| Commission-free trading is offered | An inactivity fee is charged |
| Offers more than 4,500 financial instruments | |
| Offers a dedicated program for active traders | |
| DMA accounts are offered | |
| Advanced and user-friendly trading platforms are provided | |
| Access is given to Trading Central |
XTB
Min Deposit
USD 0
Regulators
FCA, CySEC, IFSC, KNF
Trading Platform
MT4, xStation
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
Established in 2004, XTB is a well-regulated NDD broker with head offices in Poland and the United Kingdom. XTB is one of the largest stock exchange-listed CFD and forex trading brokers in the world.
XTB caters for both retail traders as well as institutional and professional investors. Traders can expect advanced yet user-friendly trading platforms, transparent trading costs, and the ability to trade more than 2,100 financial instruments spread across asset classes.
Pros and Cons
| PROS | CONS |
| Regulated by some of the strictest market regulators in the world | An inactivity fee is charged |
| Award-winning trading platform | US clients are not accepted |
| Tight spreads are guaranteed | |
| Trading academy is provided | |
| Low minimum deposit requirement and a choice between funding options | |
| Live market commentary is provided |
Plus500
Min Deposit
USD 100
Regulators
CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Trading Platform
WebTrader
Crypto
Yes (Availability subject to regulations)
Total Pairs
70+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
CFD Service. Your capital is at risk
Features
Plus500 is another award-winning CFD forex broker that has been in operation since 2008. Plus500 offers traders the use of its proprietary trading platform that is renowned for its reliable trade execution speeds, innovative tools, and convenient funding options.
Plus500 can be contacted 24/7 through different communication channels and traders can trade over 2,000 different forex and CFD instruments in a fair and transparent trading environment.
Pros and Cons
| PROS | CONS |
| No commissions and tight spreads | Inactivity fees are charged |
| Traders can use different account funding options | US clients are not accepted |
| Deposit and withdrawal fees are not charged | |
| Dedicated customer support offered 24/7 | |
| A large range of instruments offered | |
| Fully authorised and well-regulated broker |
FXTM
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
Features
FXTM is one of the best award-winning forex and CFD online brokers in the industry, providing retail traders access to more than 250 tradable instruments. FXTM is known for its competitive trading conditions, user-friendly trading platforms, and range of educational materials.
FXTM also provides traders with a choice between versatile and dynamic retail trading accounts, each with competitive trading conditions suited to all types of traders despite their trading strategy, style, or experience.
Pros and Cons
| PROS | CONS |
| Well-regulated broker | US clients are not accepted |
| Commission-free trading is provided | Inactivity fees are charged |
| Advanced trading tools are offered | |
| Extremely low minimum deposit required when registering a real account | |
| Multilingual customer support is offered | |
| There is a choice between different educational materials |
Frequently Asked Questions
Which forex brokers accept deposits with debit cards in South Africa?
Most forex brokers offer trading services to South African traders accept deposits with debit cards. To help you with your selection, here is a list of the top 10 brokers in the country that accept debit card deposits.
Do I need ID to use an online trading platform?
Yes, most well-regulated forex brokers will have a “Know Your Customer” procedure that requires valid identification to verify the trading account.
Should I use an ECN or Market Maker broker?
This will depend on your unique financial situation and your trading experience. Market maker brokers are cheaper, and they offer a wide range of tradable assets. ECN brokers offer competitive forex trading and cater to a wide range of forex traders, but they are more costly because they offer tighter spreads and faster execution speeds.
Why should I use debit cards as my deposit/withdrawal method?
Debit cards is a reliable, easy to use and fast way to deposit/withdraw funds.
How do I pick a decent Debit Card forex broker?
Choose a broker that accepts funding in debit cards that caters for your country of residence, and which is a well-regulated and trusted broker.
