With forex trading exploding around the world, especially in African countries such as Burkina Faso, forex traders may still be unsure over the best brokers to trade this market.
Burkinabé traders looking for a broker that offers competitive trading conditions along with comprehensive trading solutions and services need not look further than the list below.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
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Exness
Overview
Exness was founded in 2008 and is registered and authorised in Seychelles by the FSA, in Cyprus by CySEC and the FCA in the United Kingdom.
The broker offers MT4 and MT5 and a WebTerminal as trading platforms, with more than 130 currency pairs, metals, cryptocurrencies, energies, and Indices as trading instruments.
Pros and Cons
| PROS | CONS |
| 1$ minimum deposit | Deposit fee in certain regions |
| Free withdrawals | |
| USD and EUR as currencies |
Features
| Feature | Information |
| Regulation | CySEC, SFSA FCA, FSA(JP) |
| Minimum deposit | $1 |
| Average spread from | 0.1 pips |
| Commissions from | $10- $30 |
| Deposit/Withdrawal Fees | Deposit fee in some regions |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support and hours | 24/5, 11 languages; 24/7 in English and Chinese |
XM
Overview
XM was founded in 2009 and is authorised and regulated by CySEC, IFSC, FCA, ASIC and the Dubai DFSA.
The broker offers many secure payment methods and MT4 and MT5 trading platforms for trading Forex, Stocks, CFDs, Commodities, Equity Indices, Precious Metals, Energies and Shares.
Pros and Cons
| PROS | CONS |
| Allows scalping and hedging | No managed accounts |
| Minimum deposit from $55. | No US clients |
| Offers negative balance protection | |
| Properly regulated |
Features
| Feature | Information |
| Regulation | CySEC, IFSC), FCA, ASIC and DFSA |
| Minimum deposit | $5 |
| Average spread from | 1.7 pips |
| Commissions from | $3.5 per lot per trade |
| Deposit/Withdrawal Fees | Bank withdrawals below $200 – $15 |
| Maximum Leverage | 500:1 |
| Bonuses | No. |
| Customer Support and hours | 24/5 |
Tickmill
Overview
Tickmill brokerage is regulated by the Seychelles FSA and FCA in the UK.
Tickmill offers three live account types and its own proprietary WebTrader or MetaTrader 4 to trade forex currency pairs, stock indices and oil, precious metals, and bonds.
Pros and Cons
| PROS | CONS |
| Fast and easy account opening | Average CFD fees |
| Free deposit and withdrawals | Only basic news feeds |
| Low forex fees | |
| No inactivity or withdrawal fee |
Features
| Feature | Information |
| Regulation | FSA, FCA |
| Minimum deposit | $100 |
| Average spread from | 0.13 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:500 |
| Bonuses | $30 welcome bonus |
| Customer Support and hours | 24/5 |
XTB
Overview
XTB is an English CFD, Crypto and forex broker company founded in 2002, based in London and regulated by several international authorities including the FCA.
XTB offers a range of educational materials and an award-winning platform. It is listed on the Warsaw stock exchange and offers trading of more than 1500 global markets.
Pros and Cons
| PROS | CONS |
| Award winning platform | Limited product portfolio, mostly CFD and FX |
| Free deposit and withdrawal | Poor email support |
| Good educational material | |
| Negative balance protection | |
| Regulated by FCA |
Features
| Feature | Information |
| Regulation | FCA and Polish KNF |
| Minimum deposit | £250/$250/€250 |
| Average spread from | 0.5 |
| Commissions from | No |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:30 in EU, 1:200 international |
| Bonuses | No |
| Customer Support and hours | 24/5. |
eToro
Overview
eToro was established in 2007 and is based in Israel. It is authorised and regulated by CySEC, the FCA and ASIC.
eToro boasts more than 1.5 million customers in more than 130 countries and has transparent and user-friendly modes of trading currencies, indices, and commodities online.
Pros and Cons
| PROS | CONS |
| Low minimum deposit | High forex fees and non-trading fees |
| No deposit fee | Only one account base currency |
| Offers free stock and ETF trading in the EU | |
| Seamless account opening | |
| Social trading |
Features
| Feature | Information |
| Regulation | FCA, ASIC, CySEC |
| Minimum deposit | 30 USD |
| Average spread from | 1.0 pips |
| Commissions from | 0.09% |
| Deposit/Withdrawal Fees | $5 on withdrawals |
| Maximum Leverage | 1:20 |
| Bonuses | Welcome and referral bonuses |
| Customer Support and hours | 24/5 |
Trading 212
Overview
Trading 212 was founded in 2006 and has its headquarters in London, UK. It offers free, smart, and easy to use apps to trade equities, currencies, commodities, stocks, indices, and cryptocurrencies.
Trading 212 offers zero-commission stock trading and uses the best advanced modern technology.
Pros and Cons
| PROS | CONS |
| Demo accounts available | Does not allow scalping |
| Minimum deposit from $10 | Inactivity fee |
| Regulated | Limited research selection |
| Zero commission |
Features
| Feature | Information |
| Regulation | FCA, FSC |
| Minimum deposit | £100 /$100/€150 |
| Average spread from | 1.2 |
| Commissions from | Zero |
| Deposit/Withdrawal Fees | For bank wires |
| Maximum Leverage | 1:30 |
| Bonuses | None |
| Customer Support and hours | 24/5 |
City Index
Overview
City Index is a global Spread Betting, FX and CFD broker in London, United Kingdom that was founded in 1983 and is registered and authorised by the FCA, ASIC and of MAS Singapore.
City Index gives clients access to global markets with more than 12 000 assets to choose from Forex, Indices, Shares and Commodities.
Pros and Cons
| PROS | CONS |
| Diverse research tools | High stock CFD fees |
| Low fees for forex and index CFDs | Inactivity fee |
| Low forex fees | Limited product portfolio |
| No withdrawal or deposit fee |
Features
| Feature | Information |
| Regulation | FCA, ASIC, MAS |
| Minimum deposit | None |
| Average spread from | 0.5 pips |
| Commissions from | 0.1% |
| Deposit/Withdrawal Fees | £25 for payments less than £5 000 |
| Maximum Leverage | 1:200 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
AvaTrade
Overview
AvaTrade is an Irish forex broker company founded in 2006 and based in Dublin with sales centres in several countries.
AvaTrade is regulated by financial watchdog authorities in Europe, the British Virgin Islands, Australia, Japan, and South Africa. The company’s own AvaTradeGO app is available with user-friendly interface and innovative tools.
Pros and Cons
| PROS | CONS |
| Great educational tools | Inactivity fee |
| Multiple payment options | Limited research tools |
| No withdrawal fee | Offers only CFDs, forex, and cryptos |
Features
| Feature | Information |
| Regulation | Central Bank of Ireland, MiFID, ASiC, BVI |
| Minimum deposit | $100 |
| Average spread from | 0.6 pips |
| Commissions from | Zero |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:400 |
| Bonuses | Occasionally |
| Customer Support and hours | 24/5 |
FP Markets
Overview
FP Markets is an Australian forex broker company established in 2005 and based in Sydney and Kingstown, St. Vincent, and the Grenadines. It offers traders access to CFDs trading across forex, indices, commodities, stocks, and cryptocurrencies.
FP Markets is a four-time winner of a “Best Trade Execution” award and was voted as most satisfied by traders for five years running.
Pros and Cons
| PROS | CONS |
| Fast account opening | High stock CFD fees |
| Multi-lingual support | Limited product portfolio |
| Quick deposit and withdrawal | |
| Tight spreads |
Features
| Feature | Information |
| Regulation | ASIC, CySEC, SCB |
| Minimum deposit | $100 |
| Average spread from | 0.09 |
| Commissions from | Commission rates are complex and are obtainable from Support. |
| Deposit/Withdrawal Fees | No fees except international withdrawals |
| Maximum Leverage | 1:500 |
| Bonuses | Deposit bonus |
| Customer Support and hours | 24/5 |
TD Ameritrade
Overview
TD Ameritrade is an American forex broker based in Omaha, Nebraska, subject to tough regulation and listed on the NASDAQ.
TD Ameritrade offers customers a choice of platforms, mobile apps, and thinkorswim for derivatives-focused traders.
Pros and Cons
| PROS | CONS |
| Free stocks and ETFs | Can only trade in the US markets |
| Great customer support | High fund fees |
| Low trading and non-trading fees | No credit, debit cards or electronic wallets for money transfer |
| Superb desktop trading platform |
Features
| Feature | Information |
| Regulation | CySEC, FINRA, CFTC, MAS |
| Minimum deposit | No minimum |
| Average spread from | 1.2 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Wire transfer – $25. |
| Maximum Leverage | 2:1 |
| Bonuses | Welcome bonus |
| Customer Support and hours | 24/7 |
FXTM
Overview
FXTM is a Cypriot forex broker company established in 2011 and based in Limassol, with offices worldwide and regulations across Europe, the Middle East, Africa, Asia, and Latin America.
FXTM offers excellent services and products, segregated accounts at top-tier banks, secure deposits and withdrawals, competitive leverage, tight spreads, and the ability to trade 250+ instruments.
Pros and Cons
| PROS | CONS |
| Digital and fast account opening | High stock CFD fees |
| Great educational tools | Inactivity and withdrawal fees |
| Low EURCHF and EURGBP fees | Limited product portfolio |
| No deposit fees charged | |
| Quick deposit and withdrawal |
Features
| Feature | Information |
| Regulation | CySEC, FCA, FSCA |
| Minimum deposit | $10 |
| Average spread from | 0.1 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:30 for the EU and UK, 1:1000 under other entity |
| Bonuses | Only for international brand. |
| Customer Support and hours | 24/5 |
CMC Markets
Overview
CMC Markets is UK-based Market Maker broker established in 1989, and regulated and authorised by FCA, ASIC, MAS, FMA, and IIROC.
Clients can trade more than 10 000 financial instruments across several asset classes through trading platforms such as Next Gen and MetaTrader 4.
CMC Markets offer comprehensive analysis, a variety of trading tools, educational materials, and the advantage of no minimum deposit requirement when registering a trading account.
Pros and Cons
| PROS | CONS |
| Innovative platform tools provided | No copy trading platforms |
| Multi-regulated | No fixed spread accounts |
| No minimum deposit | No PAMM or MAM accounts |
| Segregated client funds | No US Clients |
Features
| Feature | Information |
| Regulation | FCA, ASIC, MAS, FMA, IIROC |
| Minimum deposit from | $0 |
| Average spread from | 0.7 |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
Pepperstone
Overview
Pepperstone is an Australian forex broker company regulated in Australia and the UK, with offices in the United States, United Kingdom, China, and Thailand.
Pepperstone was established in 2010 in Melbourne and offers low forex fees, easy deposit and withdrawals and advanced trading platforms.
Pros and Cons
| PROS | CONS |
| Fast and fully digital account opening | High bank withdrawal fee outside EU/Australia |
| Free deposit and withdrawal | No investor protection for non-EU clients |
| Low forex and equity index CFD fees | Only forex, CFDs, and crypto |
| Low non-trading fees |
Features
| Feature | Information |
| Regulation | FCA and ASIC |
| Minimum deposit | $200 |
| Average spread from | 0 pips |
| Commissions from | 7 units of the base currency per lot of the FX pair |
| Deposit/Withdrawal Fees | $20 for clients outside the EU and Australia |
| Maximum Leverage | 500:1 |
| Bonuses | No |
| Customer Support and hours | 24/5. |
Oanda
Overview
OANDA is an AMERICAN forex broker company that is based in New York City. OANDA was founded in 1996.
OANDA has offices in eight financial centres in the United States of America, Canada, the United Kingdom, Japan, Singapore, and Australia and serves clients in 200 countries, offering Forex and CFD trading, corporate FX payments and exchange rate services for many companies and investors all over the world.
OANDA is a trusted company and some of the biggest international companies make use of them. These entities include big brands like Google, TESLA, Airbnb, KPMG, FedEx, IATA, PWC, Twitter, Expedia, and others.
Pros and Cons
| PROS | CONS |
| Account opening process is fully digital | High withdrawal fee for bank transfers |
| Easy and digital account opening | Only FX and some CFDs available |
| Easy-to-use web trading platform | |
| No minimum deposit required |
Features
| Feature | Information |
| Regulation | CFTC in the US, FCA in the UK, ASIC in Australia, IIROC in Canada, MAS in Singapore and the FFAJ in Japan |
| Minimum deposit | $0 |
| Average spread from | 0.1 pips |
| Commissions from | $0.01 USD per trade |
| Deposit/Withdrawal Fees | No deposit fees but high withdrawal fees for bank transfers |
| Maximum Leverage | 1:50 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
IC Markets
Overview
IC Markets is a well-regulated and reputable broker established in 2007, and one of the largest true ECN brokers.
It offers traders more than 230 tradable financial instruments to trade via advanced trading platforms and competitive trading conditions.
IC Markets allows a variety of trading strategies such as hedging and scalping, social trading opportunities, offers free deposits and withdrawals, and has transparent fee schedules.
Pros and Cons
| PROS | CONS |
| ECN-pricing model | No fixed spread accounts |
| Allows hedging and scalping and supports social trading | US Clients not accepted |
| Low trading and non-trading fees | |
| Tight and competitive spreads | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
Alpari
Overview
Alpari has been a properly regulated broker for more than two decades with experience in offering traders comprehensive trading solutions globally.
Alpari was established in Russia in 1998, but now has offices in Saint Vincent and the Grenadines, Russia, and Africa to service more than 2 million registered traders in more than 150 countries. Traders can enjoy competitive trading conditions, with powerful trading platforms and multilingual customer support.
Pros and Cons
| PROS | CONS |
| MetaTrader 4 and 5 as trading platforms | No fixed spread accounts |
| Multilingual customer support | Offshore broker |
| PAMM Accounts offered | Restriction on clients from some countries |
| Well-regulated |
Features
| Feature | Information |
| Regulation | FSC, FSA |
| Minimum deposit from | $5 |
| Average spread from | 0.4 pips |
| Commissions from | $1.5 per lot per side |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
HotForex
Overview
HotForex is a popular broker based in Cyprus and regulated by multiple regulatory entities. It offers competitive trading conditions and comprehensive, all-encompassing trading possibilities.
Traders can choose between dynamic account types, powerful trading platforms, and a variety of financial instruments to trade.
Pros and Cons
| PROS | CONS |
| Well-regulated | No US Clients |
| Competitive trading conditions | Commissions are charged |
| Strong international presence | No 24/7 customer support |
| Variety of account types |
Features
| Feature | Information |
| Regulation | CySEC, FCA, DFSA, FSCA |
| Minimum deposit from | $5 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Forex.com
Overview
Forex.com is a STP, ECN, and DMA broker that was established in 2001.
Forex.com is authorised and regulated by several reputable entities and offers traders from around the world a secure and dynamic trading environment with which they can trade more than 300 financial instruments via advanced trading platforms.
Pros and Cons
| PROS | CONS |
| Advanced, powerful trading platforms | Fixed spreads not offered |
| Strictly regulated by several authorities | Limited payment methods |
| US Clients welcome |
Features
| Feature | Information |
| Regulation | ASIC, CFTC, FCA, FSA, IIROC, JFSA, NFA |
| Minimum deposit from | $50 |
| Average spread from | $0.11 on XAU/USD |
| Commissions from | $0 – $5 |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:50 |
| Bonuses | Yes |
| Customer Support | 24/5 |
IQ Option
Overview
IQ Option is a Cypriot forex broker since 2013 and based in Limassol but managed and owned by IQ Options Europe Ltd.
IQ Option provides financial services to clients from the European Economic Area (EEA) with a vast amount of tradable financial instruments across several asset classes. Its trading platform is intuitive and features a variety of tools for traders of all skills, knowledge, experience, or trading style.
Pros and Cons
| PROS | CONS |
| Advanced trading platform | No fixed spread accounts |
| Segregated client funds and member of ICF | Restricted leverage |
| Strictly regulated | US Clients not allowed |
| Vast variety of financial instruments |
Features
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $10 |
| Average spread from | 5 pips on GBP/USD |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support | 24/5 |
OlympTrade
Overview
OlympTrade is a forex broker company in St. Vincent and the Grenadines, in operation since 2014. It is a member of the International Financial Commission and customers are secured by up to a € 20 000 indemnification amount.
OlympTrade offers traders market news, a low minimum deposit requirement and 24/7 multilingual customer support.
Pros and Cons
| PROS | CONS |
| Low minimum deposit | No MetaTrader |
| Market news and analysis | No regulation |
| Multilingual 24/7customer support | No social trading |
| Proprietary trading platform | No US and UK clients |
Features
| Feature | Information |
| Regulation | None |
| Minimum deposit from | $10 |
| Average spread from | None |
| Commissions from | 0.004 % |
| Deposit/Withdrawal Fees | Some may apply |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/7 |
CM Trading
Overview
CM Trading is an STP broker based in South Africa, offering traders in the rest of Africa opportunities to trade in a variety of financial instruments through MetaTrader 4 and Sirix. CM trading offers competitive trading conditions and is properly regulated to trade Forex, Index and Commodities, including Cryptocurrencies.
Pros and Cons
| PROS | CONS |
| Commission-free accounts | Charges fees for deposits and withdrawals |
| Daily market analysis offered | High minimum deposit requirement |
| Hedging and scalping allowed | |
| Regulated |
Features
| Feature | Information |
| Regulation | FSCA |
| Minimum deposit from | $250 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:200 |
| Bonuses | Yes |
| Customer Support | 24/5 |
RoboForex
Overview
RoboForex is a global online financial trading platform and multi asset broker founded in Cyprus in 2009 and offering over 13 000 trading instruments, including over 40 currency pairs, 11 700 stock CFDs, 26 cryptocurrency CFDs, and over 100 soft commodity ETFs.
RoboForex provides tight spreads, quality insurance for client funds, and access to multiple account types for different trading styles.
It allows high leverage and offers attractive bonuses.
| PROS | CONS |
| Bonuses available | No fixed spread accounts |
| Low minimum deposit | |
| Tight spreads | |
| Wide range of trading instruments |
Features
| Feature | Information |
| Regulation | CySEC, IFSC |
| Minimum deposit | $10 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support and hours | 24/5 |
Admiral Markets
Overview
Admiral Markets Group was founded in 2001 and provides its services worldwide through regulated trading companies.
Admiral Markets offers trading with Forex and CFDs on indices, metals, energies, stocks, bonds, and cryptocurrencies.
Deposits to trading accounts can be made in most national currencies and you can have multiple trading accounts in different currencies at the same time.
| PROS | CONS |
| Advanced trading tools | No bonuses offered |
| Negative balance protection | No fixed spread accounts |
| Segregated client accounts |
Features
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit | $200 |
| Average spread from | 0.6 pips |
| Commissions from | 0 |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 500:1 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
InstaForex
Overview
InstaForex was established in 2007, is a well-regulated and multi-award-winning broker offering more than 300 financial instruments which can be traded with MetaTrader 4 and MetaTrader 5.
InstaForex provide a variety of flexible trading accounts, some of which offer commission-free trading, free VPS, a variety of trading tools and educational material.
Their quality of services is confirmed by more than dozen awards.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Charges commission |
| MetaTrader 4 and 5 available | EU-clients restricted on leverage |
| Variety of account types and instruments | US clients not allowed |
Features
| Feature | Information |
| Regulation | CySEC, BVI, SVGFSA |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | 0.03% |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
SuperForex
Overview
SuperForex was founded in 2013 and is based in Belize but operates globally and is regulated by the International Financial Services Commission (IFSC). They offer a wide range of financial instruments for trading, investment, and funds management services in more than 150 countries.
Pros and Cons
| PROS | CONS |
| Large variety of accounts | Not properly regulated |
| Leverage offered | Offshore broker |
| More than 300 trading instruments |
Features
| Feature | Information |
| Regulation | IFSC |
| Minimum deposit | $1 |
| Average spread from | fixed from 0 pips |
| Commissions from | 0 |
| Deposit/Withdrawal Fees | Withdrawals charged |
| Maximum Leverage | 1:1000 |
| Bonuses | Welcome bonus |
| Customer Support and hours | 24/7 |
Orbex
Overview
ORBEX is a forex broker company in Cyprus, founded in 2011.
ORBEX offers the MT4 trading platform and TradeWorks, a third-party automated trading tool for new traders.
ORBEX requires a minimum deposit of just $200 but offers zero spread accounts for deposits from $5 000. Its asset selection is more suitable for less-advanced traders.
Pros and Cons
| PROS | CONS |
| Access to Trading Central | Extremely high fees |
| Regulated | High minimum deposits required |
| Zero spread accounts available |
Features
| Feature | Information |
| Regulation | CySEC, FSC |
| Minimum deposit | $200 |
| Average spread from | 1.9 pips |
| Commissions from | $8 per lot |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
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Frequently Asked Questions
Is forex trading allowed in Burkina Faso?
Yes, citizens of Burkina Faso is allowed to trade forex.
Who are the best forex brokers in Burkina Faso to trade with?
All the forex brokers in Burkina Faso on this list are considered good brokers to trade with.
Do forex brokers in Burkina Faso offer demo accounts?
Yes, most of the brokers in this article offer clients the option of a demo trading account.
Are Islamic forex trading accounts available in Burkina Faso?
Yes, some of the brokers in this article offer Muslim clients the option of opening an Islamic trading account.
Can you make money with forex trading in Burkina Faso?
Yes, it is possible to make money with forex trading in Burkina Faso; however, it is well-known that 75% of all forex traders lose money.
Top 4 Brokers
