
Although forex trading increasing exponentially around the world, especially in African countries such as Cape Verde, forex traders may still be hesitant about choosing the best brokers to trade the markets.
Cape Verde 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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SuperForex
Overview
SuperForex was founded in 2013 and is based in Belize but operates globally – Africa included – 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 |
Hundreds of trading instruments | Not properly regulated |
Large choice of accounts | Offshore broker |
Leverage offered |
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 |

Exness
Overview
Exness was established 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$ as minimum deposit | Deposit fees applicable in certain regions |
USD and EUR as account currencies | |
Withdrawals are free of charge |
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 |

InstaForex
Overview
InstaForex is a Cypriot broker that was established in 2007 and 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 | Commission charged |
MetaTrader 4 and 5 available | EU-clients restricted on leverage |
Variety of account types and instruments | US clients not allowed |
Variety of financial |
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 |

XM Broker
Overview
XM Broker was founded in 2009 in Cyprus 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 accepted |
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 |

Admiral Markets
Overview
Admiral Markets Group was founded in 2001 and provides its services worldwide and in Africa in regulated circumstances.
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 |
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 |

Tickmill
Overview
Tickmill is a reputable brokerage that 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 |

Plus500
Overview
Plus500 is a CFD broker founded in 2008 that operates from Israel. It is FTSE 250 listed and authorised and regulated by the FCA, CySEC, ASIC, FMA, FSB and MAS to offer CFDs, Crypto, Indices, Forex, Commodities, Shares Options and ETFs.
Plus500 provides its own proprietary trading platform and has one type of CFD account to all traders.
Pros and Cons
PROS | CONS |
CFDs on a wide range of markets | Lack of platforms |
Competitive pricing | Lack of research tools and educational tools |
Regulated |
Features
Feature | Information |
Regulation | FCA, CySEC, ASIC, FMA, FSB and MAS |
Minimum deposit | $100 |
Average spread from | 0.6 pips |
Commissions from | No |
Deposit/Withdrawal Fees | No |
Maximum Leverage | 30:1 |
Bonuses | No |
Customer Support and hours | 24/7 |

XTB
Overview
XTB is an English broker company founded in 2002, based in London and regulated by several international authorities including the FCA. It offers CFD, Crypto and forex trading
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 CFDs 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. |

OlympTrade
Overview
OlympTrade is a forex broker company in St. Vincent and the Grenadines and has been 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 if the company defaults.
OlympTrade offers traders research options, market news, requires a low minimum deposit and provides 24/7 multilingual customer support.
Pros and Cons
PROS | CONS |
Low minimum deposit necessary | No MetaTrader as trading platform |
Market news and analysis | No proper regulation, which poses a risk |
Multilingual 24/7customer support | No social trading possible |
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 |

eToro
Overview
eToro was established in 2007 and is based in Israel. It is authorised and regulated by CySEC, the FCA and ASIC and is upholding its good reputation well.
eToro has more than 1.5 million customers in more than 130 countries, including in Africa, and has transparent and user-friendly means of trading currencies, indices, and commodities online.
Pros and Cons
PROS | CONS |
Low minimum deposit required | High forex fees and non-trading fees |
No deposit fee | Only one base account currency |
Offers free stock and ETF trading in the EU | |
Seamless account opening | |
Social trading available |
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, United Kingdom. It provides free, easy to use apps to trade equities, currencies, commodities, stocks, indices, and cryptocurrencies.
Trading 212 offers zero-commission stock trading and makes use of the best advanced modern technology.
Pros and Cons
PROS | CONS |
Demo accounts can be opened | Does not allow scalping |
Minimum deposit from $10 | Inactivity fee applicable if account lies idle |
Regulated by FCA | Limited research options available |
Zero commission on account |
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 MAS (Singapore).
City Index gives clients access to the most prominent global markets with more opportunities to trade more than 12 000 assets 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 charged on idle accounts |
Low forex fees | Limited product portfolio available |
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 a reputable Irish forex broker company founded in 2006 and based in Dublin with sales centres in several countries, including in Africa.
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 and sports a user-friendly interface and many innovative tools.
Pros and Cons
PROS | CONS |
Great educational tools | High stock CFD fees |
Multiple payment options | Inactivity fee charged on idle accounts |
No withdrawal fee | Limited product portfolio available |
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 |

TD Ameritrade
Overview
TD Ameritrade is a forex broker based in Nebraska, United States and regulated by CySEC, FINRA, CFTC and MAS. It is also listed on the NASDAQ stock exchange.
TD Ameritrade offers customers several platforms, matching mobile apps, as well as thinkorswim for derivatives traders.
Pros and Cons
PROS | CONS |
Effective customer support | High fund fees |
Good desktop trading platform | No credit, debit cards or electronic wallets can be used to transfer money |
Low trading and non-trading fees | Only US markets to trade |
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 |

CMC Markets
Overview
CMC Markets is a Market Maker broker established in 1989 and based in the United Kingdom. It is regulated and authorised by FCA, ASIC, MAS, FMA, and IIROC.
Clients can trade more than 10 000 financial instruments from several asset classes with the use of trading platforms such as Next Gen and MetaTrader 4.
CMC Markets offers good trading tools, comprehensive analysis, educational materials, and the advantage of no minimum deposit requirement when opening a trading account.
Pros and Cons
PROS | CONS |
Innovative platform tools provided | No copy trading |
Multi-regulated | No fixed spread accounts |
No minimum deposit | No PAMM or MAM accounts |
Segregated client funds | No US Clients accepted |
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 United Kingdom, with offices in the United States, United Kingdom, China, and Thailand.
Pepperstone was established in 2010 in Melbourne and offers advanced trading platforms, low forex fees, and fast and easy deposit and withdrawals.
Pros and Cons
PROS | CONS |
Fast digital account opening process | High bank withdrawal fee outside EU/Australia |
Free deposit and withdrawal | No investor protection for non-EU clients |
Low forex and equity index 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 founded in 1996 and based in New York City.
Oanda has offices in several financial centres in the United States, Canada, the United Kingdom, Japan, Singapore, and Australia and provide services to clients in 200 countries.
The broker offers Forex and CFD trading for many companies and investors all over the world, as well as financial services to some of the biggest international companies like Google, TESLA, Airbnb, KPMG, FedEx, IATA, PWC, Twitter, Expedia, and others.
Pros and Cons
PROS | CONS |
Fast digital account opening process | High withdrawal fee for bank transfers |
No minimum deposit required | Only FX and some CFDs available to trade |
Web trading platform |
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 | No minimum requirement |
Average spread from | 0.1 pips |
Commissions from | $0.01 USD per trade |
Deposit/Withdrawal Fees | 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 Australian broker established in 2007 and is regarded as one of the largest true ECN brokers.
It offers traders more than 230 tradable financial instruments to trade via advanced trading platforms in competitive trading conditions.
IC Markets allows a variety of trading strategies including hedging and scalping and social trading opportunities. The broker offers free deposits and withdrawals and has transparent fee schedules.
Pros and Cons
PROS | CONS |
Allows hedging and scalping and supports social trading | No fixed spread accounts available |
Low fees charged | US Clients not accepted |
Tight spreads offered | |
Uses ECN-pricing model | |
Well-regulated by ASIC |
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 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.
Alpari has been a properly regulated broker for more than two decades and has ample experience in offering traders comprehensive trading solutions.
Traders can enjoy powerful trading platforms and rely on multilingual customer support with this broker.
Pros and Cons
PROS | CONS |
Is a regulated broker | Clients from some countries restricted from joining |
MetaTrader 4 and 5 as trading platforms | No fixed spread accounts available |
Multilingual and reliable customer support | Offshore broker |
PAMM Accounts offered |
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 based in Cyprus and regulated by several regulatory entities. It is a popular broker that offers competitive trading conditions and comprehensive trading possibilities for success.
Traders can choose between several account types, powerful trading platforms and gain access to a variety of financial instruments to trade.
Pros and Cons
PROS | CONS |
Competitive trading conditions | Commissions charged |
Strong international presence | Customer support only available 24/5 |
Variety of account types | No US Clients allowed |
Well-regulated by several authorities |
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 and is based in Australia.
The broker is authorised and regulated by several reputable entities and offers traders from around the world a secure and vibrant trading environment with advanced trading platforms with which they get access to trade more than 300 financial instruments.
Pros and Cons
PROS | CONS |
Advanced and powerful trading platforms | Limited payment methods provided |
Properly regulated by several authorities | No fixed spreads offered |
US Clients can open accounts |
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 |

FXTM
Overview
FXTM is a forex broker company established in 2011 and based in Limassol, Cyprus, with offices worldwide and regulations across Europe, the Middle East, Africa, Asia, and Latin America.
FXTM offers excellent services and products to clients in Africa, holds client funds in segregated accounts at top-tier banks, guarantee secure deposits and withdrawals, allows competitive leverage, and offers tight spreads and the ability to trade 250+ instruments.
Pros and Cons
PROS | CONS |
Digital and fast account opening process | High stock CFD fees |
Great educational tools | Inactivity and withdrawal fees charged |
Low fees on EURCHF and EURGBP | Limited product portfolio |
No deposit fees charged |
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 entities |
Bonuses | Only for international brand. |
Customer Support and hours | 24/5 |

IQ Option
Overview
IQ Option is a Cypriot forex broker that was established in 2013 and is based in Limassol although it is managed and owned by IQ Options Europe Ltd.
The broker provides financial services a vast amount of tradable financial instruments across several asset classes to clients from the European Economic Area (EEA) and more. It provides an intuitive trading platform that 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 |
Regulated by reputable authority | Restricted leverage |
Segregated client funds and member of ICF | 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 |

CM Trading
Overview
CM Trading is an STP broker based in South Africa and strives to offer traders in the rest of Africa opportunities to trade a variety of financial instruments through MetaTrader 4 and Sirix platforms. CM trading offers competitive trading conditions to its clients and is properly regulated to trade Forex, index, and commodities, including cryptocurrencies.
Pros and Cons
PROS | CONS |
Commission-free accounts | Charges deposit and withdrawal fees |
Daily market analysis offered | High minimum deposit required |
Hedging and scalping allowed | |
Regulated by FSCA of South Africa |
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 2009 and based in Cyprus. It offers more than 13 000 trading instruments, including over 40 currency pairs, 11 700 stock CFDs, 26 cryptocurrency CFDs, and more than 100 soft commodity ETFs.
RoboForex has tight spreads, offers 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 |

FP Markets
Overview
FP Markets is a forex broker company that was established in 2005 in Sydney, Australia but also operates from Kingstown, St. Vincent, and the Grenadines. It offers traders access to CFDs trading in forex, indices, commodities, stocks, and cryptocurrencies.
FP Markets is a four-time winner of a Best Trade Execution award and is highly esteemed by all its clients.
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 |
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Frequently Asked Questions
Is forex trading allowed in Cabo Verde?
Yes. Forex trading is allowed in Cabo Verde.
Are forex brokers in Cabo Verde fake?
Not all forex brokers in Cabo Verde can be regarded as fake. There are many Cabo Verde brokers who are regulated by international regulatory entities and considered good and safe brokers to trade with.
Do forex brokers in Cabo Verde offer demo accounts?
Yes, some of the brokers in Cabo Verde in this article do offer demo accounts.
Do forex brokers in Cabo Verde offer Islamic trading?
Yes, there are brokers in this article who offer the option of Islamic trading accounts.
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