10 Best Forex Brokers for Professional Traders in South Africa

The Best Forex Brokers for Professional Traders in South Africa revealed. We have evaluated the Professional tools, accounts, resources, and several other components of forex brokers to identify the best options for Professional Traders in South Africa.

This is a complete guide to the 10 Best Forex Brokers for Professional Traders in South Africa.

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

Read Review

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

Visit Broker

#2

Read Review

FSCA, FCA, DFSA, FSA, CMA

$0

Visit Broker

#3

Read Review

CySEC, MWALI, FSCA

$25

Visit Broker

#4

Read Review

ASIC, CySEC, FSA, SCB

$200

Visit Broker

#5

Read Review

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

Visit Broker

#6

Read Review

FSA, FSC, FSCA

$20

Visit Broker

#7

Read Review

BVI FSC, LFSA, FSCA

$1

Visit Broker

#8

Read Review

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

Visit Broker

#9

Read Review

 

FCA, SCB

$100

Visit Broker

#10

Read Review

FSCA, FSC, ASIC, CySEC, DFSA

$5

Visit Broker

#1

4.8/5

User Score

Sign Up

#2

4.7/5

User Score

Sign Up

#3

4.7/5

User Score

Sign Up

#4

4.7/5

User Score

Sign Up

#5

4.7/5

User Score

Sign Up

#6

4.5/5

User Score

Sign Up

#7

4.2/5

User Score

Sign Up

#8

4.8/5

User Score

Sign Up

#9

4.6/5

User Score

Sign Up

#10

4.9/5

User Score

Sign Up

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

Read Review

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

Visit Broker

#2

Read Review

FSCA, FCA, DFSA, FSA, CMA

$0

Visit Broker

#3

Read Review

CySEC, MWALI, FSCA

$25

Visit Broker

#4

Read Review

ASIC, CySEC, FSA, SCB

$200

Visit Broker

#5

Read Review

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

Visit Broker

#6

Read Review

FSA, FSC, FSCA

$20

Visit Broker

#7

Read Review

BVI FSC, LFSA, FSCA

$1

Visit Broker

#8

Read Review

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

Visit Broker

#9

Read Review

FCA, FSC, FSCA

$200

Visit Broker

#10

Read Review

FSCA, FSC, ASIC, CySEC, DFSA

$5

Visit Broker

#1

4.8/5

User Score

Sign Up

#2

4.7/5

User Score

Sign Up

#3

4.7/5

User Score

Sign Up

#4

4.7/5

User Score

Sign Up

#5

4.7/5

User Score

Sign Up

#6

4.5/5

User Score

Sign Up

#7

4.2/5

User Score

Sign Up

#8

4.8/5

User Score

Sign Up

#9

4.6/5

User Score

Sign Up

#10

4.9/5

User Score

Sign Up

10 Best Forex Brokers for Professional Traders in South Africa Review – 7 Key Point Quick Overview

1. ✅ The 10 Best Forex Brokers for Professional Traders Compared
2. ✅ What sets a Professional Trader apart from others?
3. ✅ 10 Best Forex Brokers for Professional Traders in South Africa
4. ✅ What Features Do Professional Traders in South Africa Look for in a Forex Broker?
5. ✅ The Best Forex Brokers in South Africa
6. ✅ Conclusion
7. ✅ Frequently asked questions

In this in-depth guide, you’ll learn:

• The 10 Best Forex Brokers for Professional Traders Compared
• How does a Professional Trader differ from Other Traders?
• 10 Best Forex Brokers for Professional Traders in South Africa
• What Features do Professional Traders in South Africa look for in a Forex Broker?
• The Best Forex Brokers in South Africa
• Conclusion
• FAQ

The 10 Best Forex Brokers for Professional Traders Compared

What sets a Professional Trader apart from others?

Professional traders are distinguished by several qualities that set them apart from other traders. Here are some key characteristics of a professional trader:

• Professional traders have a disciplined approach to trading. They have a well-defined strategy, rules for entering and exiting trades, and a risk management plan. They stick to their plan even when faced with losses or gains.
• Professional traders manage their risk effectively. They limit their losses by setting stop-loss orders and using position sizing to ensure that they do not risk more than they can afford to lose.
• Professional traders deeply understand the financial markets, including the factors that influence prices, such as economic data, geopolitical events, and market sentiment. They keep themselves updated with the latest news and developments in their respective markets.
• Professional traders have years of experience in trading. They have honed their skills through years of practice, trial, and error, and learning from mistakes.
• Professional traders have strong emotional intelligence. As a result, they can manage their emotions and remain calm and rational even in the face of market volatility or unexpected events.
• Professional traders never stop learning. Instead, they continually improve their trading skills and knowledge through education, research, and analysis.
• Professional traders leverage technology to improve their trading efficiency and effectiveness. They use trading platforms, software, and tools to analyze market data, identify trends, and execute trades quickly and accurately.

Overall, professional traders possess unique skills, knowledge, experience, discipline, and emotional intelligence that set them apart from other traders.

10 Best Forex Brokers for Professional Traders in South Africa

AvaTrade

AvaTrade Overview

AvaTrade’s pro account offers professional clients leverage of up to 1:400. With AvaTrade, traders can access over 1,260 tradable assets, including more than 55 forex pairs.

Even professional traders can enjoy the advantage of fixed spreads provided by AvaTrade, and enhance their trading experience with a reduced spread of 0.6 pips on EUR/USD.

However, it should be noted that the negative balance protection does not cover AvaTrade’s professional traders, and there are no forex rebates available for high-volume traders.

AvaTrade Professional Account Criteria

To qualify for a professional account with AvaTrade, you must meet at least two of the following criteria:

• You must have engaged in sufficient trading activity in the past 12 months.
• You must have carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters, including OTC Derivatives such as Leveraged CFDs, Forex, and Spread Betting.
• You must have relevant experience in the financial services sector. This means you must have worked in the financial sector for at least a year in a position requiring knowledge regarding the transactions or services in question.
• Your financial instrument portfolio must be over €500,000 (including cash savings and financial instruments). Financial instruments that count towards this total include shares, derivatives, debt instruments, and cash deposits. However, it does not include real estate portfolios, direct ownership of commodities, or the notional values of leveraged instruments.

Pros and Cons of AvaTrade

ThinkMarkets

ThinkMarkets Overview

ThinkMarkets is a globally regulated broker authorized by the FSCA and is well-suited for experienced traders seeking a diverse range of trading instruments and an extensive suite of trading tools. However, the trading costs on its basic account are higher than average.

With ThinkMarkets, traders can access a wider range of trading assets compared to other brokers, such as Forex pairs, indices, commodities, more than 3500 share CFDs, and over 20 crypto pairs.

ThinkMarkets Professional Account Criteria

Those who meet the requirements can sign up for a Professional Account on ThinkMarkets. Traders who want to be considered for a Pro Account must meet the following requirements:

• Wealth Test:

• • You must have minimum liquid assets of AU$ 2.5 million.
  • Alternatively, you should have made at least AU$ 250,000 in gross income in the past two years.

• Sophisticated Investor Test:
  • You must prove your trading experience by passing a quick online assessment.
  • You must have received at least AU$100,00 per year in income, or you should have at least AU$500,00 in liquid assets.
  • You must provide evidence that you have traded at least 25 times in the past four quarters of the previous two years. The minimal notional value must be at least AU$ 250,000.
  • Alternatively, you must have work experience in the financial industry (of at least a year) in a position demanding knowledge of leveraged trading.

Pros and Cons of ThinkMarkets

FXCM

FXCM Overview

High-volume traders who value flexibility in platform selection and a comprehensive set of advanced trading tools may enjoy working with FXCM. Moreover, FXCM is a regulated broker that offers a standard selection of Forex, commodities, indices, share CFDs, and cryptocurrencies.

However, as a seasoned investor, you understandably refuse the following options:

• The Financial Services Compensation Scheme does not cover certain types of Professional clients.
• A negative balance in your account is your responsibility to prevent. In that case, you may incur more losses than what you initially deposited and have to make up the difference through additional payments.

FXCM provides its professional traders with several benefits, including a separate account and the ability to take advantage of various trading tools.

• AgenaTrader is a robust trading environment designed for institutional investors.
• Sierra Chart is a business-ready system that integrates with a wide variety of external programs.

FXCM Professional Account Criteria

Professional traders may open an FXCM professional account if they so choose. For example, if you answered “yes” to two or more of the following, you might qualify for an FXCM professional account:

• Have you traded significant amounts of leveraged derivatives over the past four quarters?
• Does your portfolio of financial instruments exceed EUR 500,000?
• Have you held a professional position in the financial sector requiring knowledge of derivatives trading for at least one year?

Pros and Cons of FXCM

Interactive Brokers

Interactive Brokers Overview

If you are a professional trader and choose to trade with Interactive Brokers, you can benefit from the leverage of up to 1:400. Additionally, Interactive Brokers offer access to a vast selection of over 10,000 CFDs and more than 100 forex pairs.

As a professional trader, you can expect lower trading costs with Interactive Brokers, with costs for forex trades as low as 0.08 pips based on your trading volume.

However, South African professional traders must note that negative balance protection is not provided for professional traders with Interactive Brokers.

Furthermore, if you are a US trader, you can open an IBKR Pro account with no minimum deposit or inactivity fees under SEC regulation. In addition, with an IBKR Pro account, you can also access the exclusive IBKR API and benefit from IB Smart Routing for the best possible execution.

Interactive Brokers Professional Account Criteria

Interactive Brokers classifies the following individuals as professionals:

• Anyone with a valid registration or qualification with the SEC, CFTC, a state securities agency, a securities exchange or association, or a futures contract market or association.
• Anyone who is an “investment advisor” as defined by Section 201(11) of the Investment Advisor’s Act of 1940. (Whether or not registered or qualified under that Act).
• Whoever performs services for a bank or other organization is exempt from registration under Federal or state securities laws, but who would be required to be registered or qualified if working for a non-exempt organization is exempt from the registration requirement.

Furthermore, Interactive Brokers classifies anyone who cannot be a corporation, institution, organization, trust, or partnership account as a non-professional entity.

Pros and Cons of Interactive Brokers

Saxo Bank

Saxo Bank Overview

Saxo Bank offers a professional account exclusively for elective professional clients, with leverage available up to 1:66 on major forex pairs, except for traders from Singapore who have access to leverage up to 50:1 and those in Australia with a leverage of up to 67:1.

The number of CFDs available for trading, including more than 180 forex pairs, may vary depending on the Saxo Bank entity you register with, but it generally exceeds 40,000.

A Guarantee Fund protects professional traders at Saxo Bank, but negative balance protection is not provided. As a professional client, you can also use a percentage of your shareholdings as collateral for margin trading.

Saxo Bank provides certain products and risk-management features only available to professional investors. Additionally, as a professional client, you may be invited to provide feedback to Saxo Bank regarding new products.

Saxo Bank Professional Account Criteria

Traders with sufficient experience may be eligible for reclassification as elective professionals and exemption from regulatory protections designed for traders with less experience. Traders must meet at least two of the following three criteria:

• Have a portfolio worth more than €500,000.
  • Acceptable investment portfolios include cash savings, a stock portfolio, an Individual Savings Account (ISA) for stocks and shares, trading accounts, mutual funds, and a SIPP, excluding non-financial instruments.

• Over the past four quarters, you have executed at least ten relevant trades of significant size.
  • Relevant products include CFDs / Forex (Spot / Forwards / Options), Futures, Options, and Exchange Traded Products with Leverage.
  • Significant size is defined as a minimum notional value of €100,000 on Forex, €50,000 on indices, and €10,000 on single-stock CFDs, for instance.
  • The average frequency of trades can be determined by a single provider or a combination of providers.
  • Saxo Bank will request scanned copies of statements for all transactions conducted outside of Saxo.

• Work or have worked for at least one year in the financial sector.
  • You work or have worked in the financial industry for at least one year in a professional capacity that requires product knowledge.
  • Saxo Bank will inquire about your role and how it has provided you with sufficient knowledge and experience. If necessary, the broker can require you to provide proof.

Pros and Cons of Saxo Bank

IG

IG Overview

IG Markets provides Professional traders with leverage up to 1:222 and up to 250:1 on major forex pairs (or up to 100:1 on Pro Level 1 with Negative Balance Protection) under ASIC oversight.

Pro traders have access to Digital100 and options CFDs, in addition to more than 90 currency pairs and more than 19,000 CFDs. Exclusive services, including a three-month free trial of the advanced graphics of IG Markets ProRealTime, are also available to Pro traders.

Monthly spread rebates of up to 20% are offered to Professional traders with IG Markets based on Forex, indices, and commodities trading volume.

However, Negative balance protection is not available for Professional traders, and execution speed and likelihood are prioritized over price and transaction costs.

IG Markets offers a Select account with premium features such as reduced margins, no Friday night sweep, and dedicated support for closing positions.

IG Professional Account Criteria

If you answered “yes” to two or more of the following, you might be eligible for professional trader status.

• Has your trading averaged 10 significant leverage transactions per quarter during the past four quarters?
• Do you have a portfolio of financial instruments, including cash deposits, which exceeds the South African rand equivalent of €500,000?
• Have you held a professional position in the financial sector requiring knowledge of derivatives trading for at least one year?

Pros and Cons of IG

Pepperstone

Pepperstone Overview

Pepperstone, regulated by CySEC, FCA, ASIC, DFSA, and SCB, offers professional traders leverage up to 1:500 on Forex.

Pepperstone provides access to over 1,200 CFDs, including 60+ forex pairs. Unfortunately, negative balance protection is not available for pro traders. However, Pepperstone offers a free VPS and a generous rebate program of up to 15% through the Pepperstone Active Trader Program.

The Razor account is the only account that allows pro traders to earn rebates, with spreads from 0 pips on EUR/USD and a commission of $3.50 per side.

This account is suitable for scalping as orders are executed quickly in approximately 30 milliseconds. Professional traders can also benefit from a resolute relationship manager and priority service.

Pepperstone Professional Account Criteria

You will have access to increased leverage and exclusive account features as a professional client. Furthermore, you will be eligible for the Active Traders program. However, you will lose certain protections for retail clients, such as negative balance protection and leverage restrictions.

Pepperstone has a self-certification procedure that takes only a few minutes and is accessible through the Secure Client Area.

Furthermore, to access the Professional Account, you must pass a brief quiz to demonstrate that you meet the eligibility requirements. Moreover, you must self-certify that you meet two of the following three criteria:

• Your experience with leveraged trading (financial derivative or over-the-counter) products.
• Your cash balances and investment portfolio exceed $500,000.
• Your professional background in the financial services industry.

Pros and Cons of Pepperstone

IC Markets

IC Markets Overview

IC Markets provides professional traders with leverage of up to 1:500. With IC Markets, pro traders can access over 2,000 tradable instruments, including more than 60 currency pairs.

Pro traders can take advantage of a zero-pip spread with a commission of $3.50 ($3.00 on cTrader) by trading with an IC Markets Raw Spread account.

However, becoming an IC Markets wholesale client means waiving some retail benefits, such as Negative Balance Protection. IC Markets does not have a dedicated rebates program for pro traders.

The True ECN offering and extensive product selection of IC Markets are included with all account types. To get started, South African professional traders can choose a preferred trading platform and pricing model suitable for novice and experienced traders.

Furthermore, clients who wish to switch from the retail to the professional category should review the information below and then fill out the following form to confirm their decision.

There is no additional cost to upgrade to the professional-client version. However, it is essential to recognize the dangers associated with reclassification from retail to professional.

The following are the benefits of the Professional IC Markets Account:

• As a Professional Client, you are not subject to leverage limitations.
• Customers will maintain negative balance protection.
• IC Markets (EU) Ltd will hold and safeguard your funds in a client trust account.
• You retain the right to be reclassified as a Retail Client at any time.

However, the following conditions will apply to all Professional clients:

• You are not eligible for IC Markets (EU) Ltd’s Investor Compensation Fund (ICF).
• IC Markets limits leverage on the products offered to retail clients to 30:1 and 10:1. Increased leverage can work against investors and exacerbate losses. If you qualify as a “Professional Client,” you are exempt from the ESMA restrictions.
• IC Markets will assume your experience level when determining whether products and services suit you. Consequently, when IC Markets contacts you, the broker will assume that your experience allows the broker to use more complex language than with Retail Clients.
• IC Markets is not required to restrict your account with standard risk warnings and rules designed to safeguard Retail Clients.

IC Markets Professional Account Criteria

To qualify for re-categorization as a professional client, you must satisfy two of the three criteria listed below.

• During the preceding four quarters, you must have averaged ten transactions per quarter on the relevant market, all of which were of significant size.
• Your portfolio of financial instruments must comprise cash deposits and financial instruments exceeding €500,000.
• You must work or have worked in the financial sector for at least one year in a professional capacity requiring knowledge of the transactions or services in question.

Pros and Cons of IC Markets

eToro

eToro Overview

The eToro professional account is exclusively accessible to clients who fall under the regulatory oversight of FCA and CySEC. As a professional trader with eToro, you can enjoy leverage of up to 1:400 and access over 3,000 CFDs, including more than 45 forex pairs.

It is noteworthy, however, that eToro does not provide negative balance protection to professional traders. Instead, they offer a volume-based rebate and leveraged crypto trading.

The eToro Popular Investor Program caters to experienced investors. It allows them to earn an annual base income by being copied on the social trading platform.

Please be informed that there is no provision for using a VPS with eToro, even for professional traders. Additionally, the eToro Club Program provides a means of reducing trading costs.

eToro Professional Account Criteria

If you qualify as a Professional Client, you may be eligible for the eToro account for experienced traders.

Professional Client status is available to eToro clients who meet certain criteria. In addition, this regulatory status is available to experienced traders and financial professionals who want to use more sophisticated portfolio management strategies.

To qualify, you must answer “yes” to at least two of the three questions below.

• Have you conducted significant-sized transactions on the relevant market at an average frequency of ten per quarter over the past four quarters?
• Does your investment portfolio’s value exceed €500,000?
• Have you worked in the financial sector for at least one year in a professional capacity requiring knowledge of the envisaged transactions or services?

Pros and Cons of eToro

OANDA

OANDA Markets Overview

Oanda offers professional traders leverage of up to 1:100 and access to over 100 CFDs, including 70+ forex pairs. Additionally, placing guaranteed stop-loss orders, stop-loss orders, or trailing stop-loss orders provides an extra 50% margin relief.

However, negative balance protection is not available for professional traders on Oanda. Instead, under NFA regulation, professional traders can join the Oanda Advanced Trader program, which offers up to $15 per million in rebates or a $15 per million commission reduction.

Rebates and reduced commissions are available for pro traders on the Oanda Core pricing account with a spread starting from 0.1 pips + a $3.5 commission per side. In addition, a free VPS is also provided for pro traders through the Oanda Advanced Trader program.

OANDA Professional Account Criteria

As a professional client, you can trade with a higher level of leverage, but you will lose some protection. Furthermore, you qualify as a Professional Traders with OANDA if:

• You have placed at least 40 openings CFD or FX trades with a notional value of at least 50,000 in the past year (at least 10 opening trades with relevant volume per quarter in the last year).
• Your investment portfolio is greater than €500,000.
• You have at least one year of professional experience in the financial sector in a position requiring knowledge of FX and CFD trading.

Pros and Cons of OANDA

What Features Do Professional Traders in South Africa Look for in a Forex Broker?

Like traders in other parts of the world, professional traders in South Africa look for certain features when choosing a forex broker. Here are some features that professional traders in South Africa typically consider.

Regulations and Licensing

Professional traders in South Africa must look for forex brokers regulated by a reputable financial authority, such as the Financial Sector Conduct Authority (FSCA) in South Africa or the Financial Conduct Authority (FCA) in the UK.

Furthermore, regulation protects traders and ensures that the broker operates transparently and ethically.

Trading Software

Professional traders in South Africa require a reliable and user-friendly trading platform. The platform should be stable, have a fast execution speed, and provide access to a wide range of trading instruments and analytical tools.

Trading Fees

Professional traders in South Africa consider the spreads and commissions charged by a broker. Therefore, they look for brokers that offer tight spreads and low commissions, as this reduces their trading costs and improves their profitability.

Deposit and Withdrawal Methods

Professional traders in South Africa prefer brokers that offer a variety of deposit and withdrawal options, such as bank transfers, credit/debit cards, and electronic wallets. They also look for brokers that process withdrawals quickly and efficiently.

The level of Service – Customer Support

Professional traders in South Africa expect excellent customer support from their forex brokers. Therefore, they look for brokers that offer 24/7 support through multiple channels, such as live chat, email, and phone.

The Education and Research Offered by the Broker

Professional traders in South Africa appreciate brokers that provide educational resources and research tools. This can include trading tutorials, market analysis, and economic calendars.

The Trading Conditions Offered

Professional traders in South Africa consider a broker’s trading conditions, such as minimum deposit requirements, leverage, and margin requirements. They look for brokers that offer flexible trading conditions that meet their specific needs.

The Best Forex Brokers in South Africa

This article lists the best brokers that offer forex and CFD trading to South African traders. In addition, we have further identified the brokers that offer additional services and solutions to South African traders.

Best MetaTrader 4 / MT4 Forex Broker in South Africa

Overall, HFM is the best MT4 Forex Broker in South Africa. Through their MetaTrader 4 platform, HFM is a well-known broker for South Africans to invest in approximately 1,000 CFDs, including the VIX 75. This provides traders with tight spreads and some of the lowest fees in the industry.

In addition, HFM provides both novice and experienced traders with helpful advice and resources and various useful tools for trading indices.

Best MetaTrader 5 / MT5 Forex Broker in South Africa

Overall, FBS is the best MetaTrader 5 Forex Broker in South Africa. This is because MetaTrader 5 accommodates a variety of trading objectives. For example, on FBS’ MT5, South African traders have access to one-click trading. In addition, they can modify the parameters of their graphical orders, trade orders, and view their positions, among other features.

FBS is the most competitive MT5 broker for South African traders, with spreads as low as 1 pip on major instruments.

Best Forex Broker for beginners in South Africa

Overall, AvaTrade is the best Forex Broker for beginners in South Africa. AvaTrade not only provides education for novice traders but also provides extensive services for advanced traders.

In addition, there is an abundance of guides, videos, courses, and other educational materials for traders to choose from.

Best Low Minimum Deposit Forex Broker in South Africa

Overall, OANDA is the best Low Minimum Deposit Forex Broker in South Africa. No minimum deposit is required when South Africans open a live trading account at OANDA. In addition, OANDA does not require account verification for deposits of up to $9,000.

Best ECN Forex Broker in South Africa

Overall, Pepperstone is the best ECN Forex Broker in South Africa. Popular ECN broker Pepperstone obtains its liquidity from GAIN Capital, Prime Limited, LMAX Limited, and other sources.

In addition, South African traders can take advantage of rapid market execution and zero pip spreads on major instruments such as EUR/USD while trading a comprehensive range of products.

Best Islamic / Swap-Free Forex Broker in South Africa

Overall, XTB is the best Islamic / Swap-Free Forex Broker in South Africa. XTB offers South African traders a Swap-Free Account that can be used to trade multiple asset classes.

In addition, they can use xStation5 across multiple devices and take advantage of a variety of research, education, and other exceptional features.

Best Forex Trading App in South Africa

Overall, thinkorswim is the best Forex trading app in South Africa. TD Ameritrade’s proprietary trading app, thinkorswim, is available for download on iOS and Android.

Traders can access a variety of TD Ameritrade instruments, tools, resources, and educational content via the app.

Best Forex Rebates Broker in South Africa

Overall, Exness is the Best CFD Rebates Broker in South Africa. Exness offers South Africans discounts on Standard, Standard Cent, Raw Spread, and Zero Accounts. In addition, South Africans can earn up to $100 per lot or 20% of the spread on Forex major pairs.

Exness has access to significant liquidity providers, which enables them to offer market execution with spreads beginning at 0 pips for major instruments such as EUR/USD, gold, and energy.

Best Lowest Spread Forex Broker in South Africa

Overall, IC Markets is the best lowest spread Forex Broker in South Africa. Using some of the best ECN technology, IC Markets offers South Africans low and competitive spreads beginning at 0.0 pips. In addition, IC Markets aggregates pricing using the leading liquidity providers.

Best Nasdaq 100 Forex Broker in South Africa

Overall, XM is the best Nasdaq 100 Forex Broker in South Africa. XM provides South African traders with access to various index CFDs, including Nasdaq 100.

In addition, South Africans can expect competitively low spreads and the ability to trade on MT4, MT5, and the XM Trading Point app.

Best Volatility 75 / VIX 75 Forex Broker in South Africa

Overall, IG is the best Volatility 75 / VIX 75 Forex Broker in South Africa. Over 19,000 financial instruments are available from IG, including an impressive portfolio of CFDs on Indices such as the VIX 75.

In addition, traders trading this instrument will benefit from IG’s advanced tools and competitive spreads.

Best NDD Forex Broker in South Africa

Overall, FP Markets is the best NDD Forex Broker in South Africa. FP Markets has been in business since 2005 and is one of the industry’s best No-Dealing-Desk (NDD) brokers.

In addition, the spreads on ECN execution are competitively low at FP Markets, and the commissions range from $3 to $3.5 per trade.

Best STP Forex Broker in South Africa

Overall, FOREX.com is the best STP Forex Broker in South Africa. FOREX.com charges competitively low spreads across all markets.

Furthermore, FOREX.com is one of the only brokers with a verified Trade Execution Scorecard, which benefits South African traders who use fast-paced strategies.

Best Sign-up Bonus Broker in South Africa

Overall, InstaForex is the best sign-up Forex Broker in South Africa. South Africans can use the $1,000 no-deposit bonus to familiarize themselves with the broker’s website and trading platforms and to hone their trading techniques.

Conclusion

Becoming a professional trader typically takes several years of experience and a deep understanding of market dynamics, technical and fundamental analysis, risk management, and trading psychology.

In addition, a professional trader must be able to stay up-to-date with market trends and news and have a solid understanding of economic and political events that can impact the financial markets.

Becoming a professional trader can be rewarding, but it requires a lot of hard work and dedication. In addition, professional traders often face high stress and pressure to make profitable trades. Therefore, they must be able to handle the psychological challenges that come with trading.

Fortunately, several forex brokers offer advanced capabilities, tools, resources, and other features that professional traders require.

Frequently asked questions

What regulatory body oversees forex brokers in South Africa?

The regulatory body that oversees forex brokers in South Africa is the Financial Sector Conduct Authority (FSCA).

Can you be a professional forex trader in South Africa?

You may have what it takes to become a professional trader if you have consistently been profitable trading forex.

How many years does it take to become a professional forex trader?

There is no set number of years that it will take to become a professional forex trader.

However, it can take up to several because the forex market is not the same every day. Therefore, even professionals must keep learning to stay ahead of the game.

What is a professional forex trader called?

A professional trader, also known as a forex account manager, typically works for corporations or manages individual accounts, making trade decisions based on their clients’ objectives.

What leverage do professional traders use?

On forex markets, the optimal leverage depends on the investor. For conservative or novice investors, a leverage ratio of 5:1/10:1 could be favourable.

However, leverages can be as high as 50:1 or even 100:1 or more for seasoned investors who are more risk-tolerant.

What are the leverage limits for professional traders with forex brokers in South Africa?

Leverage limits for professional traders with forex brokers in South Africa can vary depending on the broker and regulatory framework.

However, professional traders typically have access to higher leverage than retail traders, ranging from 1:100 to 1:500.

Do forex brokers in South Africa offer negative balance protection for professional traders?

Not all forex brokers in South Africa offer negative balance protection for professional traders. Professional traders are considered more experienced and knowledgeable, so they are expected to manage their risks more effectively.

What types of accounts do forex brokers in South Africa offer to professional traders?

Forex brokers in South Africa offer different types of accounts to professional traders, including Standard accounts, Raw Spread accounts, and Pro accounts.

Depending on the broker, each type of account has different features, fees, and trading conditions.

What are some of the advantages of trading with a forex broker as a professional trader?

Professional traders have access to several advantages when trading with forex brokers in South Africa, including higher leverage, lower trading costs, resolute account managers, and exclusive trading tools and resources.

Additionally, trading with a regulated forex broker ensures transparency, security, and compliance with industry standards.

Addendum/Disclosure

No matter how diligently we strive to maintain accuracy, the financial markets are volatile that could shift and change at any given time, even if the information supplied is correct at the time of going live.