Trade247 is a broker available to South Africans, offering tight spreads and 24/7 support.
But is Trade247 FSCA-aligned? We looked under the hood to find out whether this broker is worth your deposit.
🛡️Regulated and trusted by the SCA (UAE) and the FSC (Mauritius)
🛡️1945 new traders chose this broker in the last 90 days.
Min Deposit
USD 100
Regulators
SCA (UAE),
FSC (Mauritius)
Trading Platform
MT5
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trade247 Review – Analysis of Broker’s Main Features
- 🕷️Trade247 Spider Chart
- 💡Trade247 at a Glance
- 📝Overview
- 🔒Trade247 Regulatory Compliance
- ⚖️Compare Forex Brokers
- 👥Trade247 Account Types
- 🚪How To Register an Account from South Africa
- 💻Trade257 Trading Software and Features
- 📈Trade247 Range of Markets
- 💹Fees and Funding for South Africans
- 📘Educational Materials + Trading Tools
- 🗣️Customer Support
- ✔️Pros and Cons
- 📝Conclusion
- ❓Frequently Asked Questions
- 🔗References
Trade247 Spider Chart
Here are the rating scores (out of 10) used in the spider chart for Trade247:
- Regulation & Security – 5
- Account Types & Features – 6
- Trading Conditions – 5
- Trading Instruments – 6
- Deposits & Withdrawals – 6
- Platforms & Tools – 5
Trade247 at a Glance
| 🗂️ Category | 📌 Details |
| Company Information | |
| 📅 Year Founded | 2025 |
| 👥 Employees | 10 – 50 (LinkedIn) |
| 📊 Active Traders | Not disclosed |
| 📈 Publicly Traded | No |
| Regulation and Safety | |
| 🏛️ Regulation | SCA (UAE), FSC (Mauritius) |
| 🌍 Country of Regulation | UAE, Mauritius |
| 🔐 Account Segregation | ✅ Yes |
| 🪫 Negative Balance Protection | ✅ Yes |
| 🧾 Investor Protection Scheme | No |
| Account Types and Features | |
| 🔑 Account Types | Standard, Pro, Demo, Islamic (Swap-Free) |
| 🏛️ Institutional Accounts | ✅ Yes |
| 💼 Managed Accounts | No |
| 💱 Minor Account Currencies | AED |
| 💵 Minimum Deposit | $100 (Standard), $500 (Pro) |
| Trading Conditions | |
| ⏱️ Processing Time | Deposits: Instant Withdrawals: 1–3 hrs |
| 💸 Withdrawal Fees | None |
| 📉 Spreads From | 0.2 pips (EUR/USD) |
| 💰 Commissions | None |
| 🌐 Base Currencies | USD, EUR, GBP, JPY, AED |
| 🌙 Swap Fees | ✅ Yes |
| 📊 Leverage | Up to 1:500 |
| 🚨 Margin Call / Stop-Out | 100% / 30% |
| 🕌 Islamic Account | ✅ Yes (on request) |
| 🎮 Demo Account | ✅ Yes (unlimited) |
| 🚀 Order Execution Time | Not disclosed |
| 🖧 VPS Hosting | No |
| Trading Instruments | |
| 📊 CFDs Offered | 2,000+ instruments |
| 📈 CFD Indices | ✅ Yes (Excludes JSE/FTSE) |
| 🌾 CFD Commodities | ✅ Yes (incl. metals, energy) |
| 🏛️ CFD Shares | ✅ Yes (No JSE stocks) |
| Deposits and Withdrawals | |
| 💰 Deposit Options | Visa, Mastercard, Bank Transfer |
| 💸 Withdrawal Options | Visa, Mastercard, Bank Transfer |
| Trading Platforms and Tools | |
| 💻 Platforms | Same as deposits |
| 💽 OS Compatibility | MT5 Only |
| 🛠️ Forex Tools | Windows, iOS, Android, macOS |
| 📞 Customer Support | MT5 tools, EAs, strategy tester |
| 💬 Live Chat | ✅ 24/7 |
| [email protected] | |
| 📱 Phone | +971 58 847 0281 |
| 🌐 Website Languages | English, Arabic |
| Educational Resources | |
| 🎓 Courses | Not available |
| 🎥 Webinars | Not offered |
| 📘 Other Resources | None live yet |
| Partnerships & Programs | |
| 🪪 Affiliate Program | Not yet |
| 🤝 Partners Count | Not disclosed |
| 📋 IB Program | Not offered |
| 🏆 Sponsorships | None known |
| 💵 Rebates | None |
| South African Trader Info | |
| ✅ Accepts SA Traders | ✅ Yes |
| ❌ FSCA Regulated | No |
| ❌ SA Affiliate Program | No |
| 💱 ZAR Account Option | Not available |
| 👉Open Account | 👉 Open Account |
Overview
Trade247 is a global broker now available to traders in South Africa. Regulated in the UAE and Mauritius, they offer a simple, streamlined trading experience built around the powerful MT5 platform.
There’s no FSCA licence yet and no ZAR account support. Thus, while South Africans can trade with them, they must use USD or EUR, and convert their local currency when depositing and withdrawing.
That said, Tade247 offers competitive spreads, 24/7 live support, and a clean execution model, especially for those with prior trading experience.
If you’re looking for flashy features or aggressive bonuses, this isn’t your broker.
However, if you want a low-cost, fast-access trading in a regulated environment, Trade247 gives you a no-nonsense option.
Trade247 Regulatory Compliance
| 🌍 Regulatory Body | 📍 Jurisdiction | ✅ What It Means for SA Traders |
| 🏛️ SCA | 🇦🇪 United Arab Emirates | Reputable Middle Eastern regulator – offers regional oversight |
| 🏢 FSC | 🇲🇺 Mauritius | Light regulation – less strict than FSCA or Tier-1 bodies |
| 🇿🇦 FSCA Licence | Not held | No local protection, ombudsman support, or ZAR accounts |
| 🔒 Segregated Funds | ✅ Yes | Client funds are kept separate from broker operational funds |
| 🧯 Negative Balance Protection | ✅ Yes | Prevents account going negative in volatile markets |
| 📉 Investor Compensation | No | No compensation fund if broker becomes insolvent |
While neither of these is a Tier-1 regulator like the FSCA, FCA, or ASIC, they still impose important controls:
- Segregated client funds
- Compliance audits
- Basic AML/KYC checks
But here’s what you won’t get:
- No FSCA regulation – so no domestic protection under South African financial law.
- No investor compensation scheme – if the broker goes under, there’s no safety net.
- No dispute resolution body – SA traders must go offshore for complaints.
To Trade247’s credit, they don’t pretend to offer what they don’t have.
They’re upfront about their licences and provide the essentials, like negative balance protection and fund segregation.
We hope to see Trade247 obtain FSCA regulation in the following few years (if this is part of the roadmap).
Min Deposit
USD 100
Regulators
SCA (UAE),
FSC (Mauritius)
Trading Platform
MT5
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Compare Forex Brokers
| 🧩 Metric | 🟩 Trade247 | 🟨 Exness | 🟦 Tickmill |
| 📅 Year Founded | 2025 | 2008 | 2014 |
| ✅ Regulated by FSCA? | No | ✅ Yes | ✅ Yes |
| 💱 ZAR Accounts Offered? | No | ✅ Yes | ✅ Yes |
| 💸 Can Deposit/Withdraw in ZAR? | No – USD only | ✅ Yes – incl. EFTs | ✅ Yes – EFT, ZAR cards |
| 💵 Minimum Deposit | $100 (±R1,800) | From $10 | $100 (~R1,900) |
| 📉 Spreads From | 0.2 pips (EUR/USD) | 0.0 (Raw), 0.3 (Standard) | 0.0 (Raw), 1.6 (Classic) |
| 💼 Commission Model | None | From $0.1 (Zero), $3.5 (Raw) | $3 per lot (Raw) |
| ⚖️ Maximum Leverage | 1:500 | Unlimited (if eligible) | 1:1000 |
| 🕌 Islamic Account Available? | ✅ Yes (on request) | ✅ Yes (all accounts) | ✅ Yes (Raw, Classic) |
| 🌙 Swap-Free Option | ✅ Available | ✅ Available | ✅ Available |
| 📊 Total CFDs Offered | 2,000+ | 200+ | 180+ |
| 💻 Trading Platforms | MT5 only | MT4, MT5, Web, App | MT4, MT5, Tickmill Trader |
| 🏦 Local Deposit Methods (SA) | None | EFT, SnapScan, etc. | EFT, ZAR cards |
| ⏱️ Order Execution Speed | Not disclosed | ~0.01 sec | 0.20 sec |
| 🖥️ VPS Hosting | No | Free (if eligible) | Discounted (BeeksFX) |
| 📞 Customer Support Hours | 24/7 | 24/7 | 24/5 |
| 👥 Social/Copy Trading | None | ✅ Yes (native platform) | No |
| 🎁 Bonuses or Rebates | None | None | ✅ Yes – up to $5,000/month |
| 📚 Educational Tools (SA) | Not live yet | Webinars, research, more | Webinars, eBooks, videos |
| 🛡️ FSCA-Relevant Protection | None | Segregation, comp fund | FSCA licence, ICF/FSCS |
| 👉Open Account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
Trade247 Account Types
Trade247 offers four account types—Standard, Pro, Islamic (Swap-Free), and Demo.
Each is accessible to South African traders, but there’s no FSCA-specific offering or ZAR-based account (yet).
Standard Account
| 🧩 Feature | 🔍 Details |
| 💵 Minimum Deposit | $100 (±R1,800) |
| 📉 Spreads From | 0.2 pips (EUR/USD) |
| ⚖️ Leverage | Up to 1:500 |
| 💼 Commission | None |
| 💻 Platform | MT5 |
| 🕌 Swap-Free Option | Available on request |
| 👉Open Account | 👉 Open Account |
This all-rounder account is fine for retail traders who want tight spreads and no commission.
The $500 minimum is steep for newer South African traders, especially without a local deposit option, and the currency fluctuations between ZAR, USD, and other account currency options.
Pro Account
| 🧩 Feature | 🔍 Details |
| 💵 Minimum Deposit | $500 (~R9,300) |
| 🎯 Target User | Experienced & high-frequency traders |
| 📉 Spreads | Tight – near raw spreads |
| ⚡ Execution Type | DMA (Direct Market Access) |
| 👨💼 Dedicated Account Manager | ✅ Yes |
| 💵 Commission | Zero – no additional commission |
| 🕌 Islamic Option | Available on request |
| 🛠️ Trading Platform | MT5 only |
| 📈 Leverage | Up to 1:400 |
| 🕒 Support Hours | 24/7 live chat and phone |
| 💼 Ideal For | Pro traders, and algo traders |
| 👉Open Account | 👉 Open Account |
What stands out is the Direct Market Access and the lack of commissions.
It’s surprisingly pro-level for the same funding threshold as the Standard, though most brokers would require R15k+ to unlock similar perks.
Islamic Account (Swap-Free)
| 🧩 Feature | 🔍 Details |
| ✅ Availability | Available on request after account verification |
| 💤 Overnight Interest (Swap) | No overnight interest charged |
| 🧾 Account Type Basis | Mirrors Standard or Pro account features |
| 💸 Additional Admin Fees | None noted – no hidden fees mentioned |
| 🧍♂️ Target Audience | Suitable for Muslim traders adhering to Sharia law |
| 👉Open Account | 👉 Open Account |
Great for Muslim traders looking for halal trading conditions.
It’s also good to see there’s no backend charge (many brokers add this after a certain holding period).
Demo Account
| 🧩 Feature | 🔍 Details |
| ⏳ Expiry Limit | No expiry – unlimited usage |
| 💻 Trading Platform | MT5 – full features with real market conditions |
| 🌍 Available to South Africans? | Yes – accessible without needing to fund a live account |
| 🧪 Realistic Environment | Simulates live trading with real-time pricing and conditions |
| 👉Open Account | 👉 Open Account |
This is ideal for South African traders to test execution speeds, spreads, or EAs on MT5 before committing (for instance) R10k to a live account.
How To Register a Trade247 Account from South Africa
Registering with Trade247 is straightforward, but there are a few key things South African traders should know regarding currency, funding, and documentation.
Step-by-step:
Step 1: Sign Up
- Visit trade247.com
- Head to the website and click Sign Up.
Step 2: Enter your details
- Name, email, phone number, and country (select South Africa).
- Verify your account
- Upload your South African ID/passport and proof of address (bank statement or utility bill).
- Choose your account type
- Standard, Pro, or Islamic (you can request swap-free status during or after signup).
- Deposit funds
- Fund via card or bank transfer (ZAR will be converted to USD).
- Start trading
- Once funds land, MT5 credentials are issued, and you’re live.
Local context:
- You’ll be trading in USD, not ZAR.
- Use a multi-currency bank account if possible to avoid unnecessary forex fees.
- There’s no local funding gateway, so expect some delay and conversion loss with SWIFT.
Min Deposit
USD 100
Regulators
SCA (UAE),
FSC (Mauritius)
Trading Platform
MT5
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trade247 Trading Software
Trade247 uses MetaTrader 5 exclusively, which seems restrictive but is good. Only one platform means no fiddling with tricky (often bug-riddled) in-house apps or stripped-back web versions.
You get a globally trusted platform that is properly implemented.
Key features for SA traders:
| ⭐ MT5 Feature | 📌 Why It Matters for South Africans |
| 💼 Multi-Asset Support | Trade forex, commodities, indices & stocks all from one account |
| 🔁 Hedging & Netting Options | Flexibility to run dual strategies (hedging vs. directional) without multiple accounts |
| 📊 38+ Technical Indicators | Access built-in tools like RSI, MACD, no need for paid third-party plugins |
| ⏱️ 21 Timeframes | Supports swing trading, and long-term investing styles |
| 🧪 Strategy Tester | Ideal for testing EAs, especially on volatile pairs like USD/ZAR |
| 📅 Economic Calendar | Prepares local traders for global news events that can shake the Rand |
| 🧩 Partial Order Fills | Minimizes slippage on low-liquidity exotic pairs like ZAR/JPY |
| 🔔 Built-in Alerts | Stay notified of market moves without extra apps |
| ⚡ One-Click Trading | Enables fast execution—critical during active sessions like the London open |
| 📱 Mobile & Desktop Versions | Seamless trading access whether you're at home, office, or mobile—even on less stable South African internet |
| 🤖 MQL5 Script Support | Algo traders can build or subscribe to automated strategies and paid signals |
| 🔗 Cross-Device Syncing | Charts, templates & orders remain synced between devices |
| 🚀Sign up | 👉 Open Account |
Our Take
MT5 gives SA traders access to multi-asset charts, one-click trading, and a deep toolbox—all without platform fees.
However, there’s no integration with TradingView, no copy/social trading features, and no local customisation for JSE or ZAR-based tickers.
Still, it’s more than enough for MT5 purists and self-directed traders.
Trade247 Range of Markets
Trade247 offers a decent portfolio of tradable assets through MT5. This matters for South African traders because many local brokers limit access to just forex and CFDS on indices. Trade247, on the other hand, gives SA clients exposure to over 2,000 global instruments.
What’s tradable:
| 📊 Market Type | 🌟 Instruments Offered |
| 💱 Forex | Majors, minors, & exotic pairs, includes USD/ZAR, GBP/ZAR |
| 🌐 Global Indices | Major indices like NASDAQ, S&P 500, DAX, FTSE |
| 🛢️ Commodities | Includes oil, gold, silver, natural gas |
| 🪙 Metals | Spot trading in gold, silver, palladium |
| 🏢 Shares (CFDs) | Global stocks from US, EU, and Asia all in CFD format |
| ₿ Cryptos (CFDs) | Popular crypto assets like Bitcoin, Ethereum, and more CFD-based |
| 🚀Sign up | 👉 Open Account |
What’s missing:
- JSE stocks – No access to local equities
- ZAR-denominated instruments – All trading is in USD
- SA government bonds or ETFs – Not listed
Key Takeaways
SA traders can access global markets 24/5, with fast execution, tight spreads, and no commission.
The downside? You’ll need to understand the currency risk of trading in USD while earning in ZAR.
Fees and Funding for South Africans
Here’s where things get real for South African traders: fees and funding methods, especially when ZAR isn’t supported.
Spreads & Fees
| 💼 Fee Type | 📋 Details |
| 📉 Spreads | From 0.2 pips on EUR/USD |
| 💰 Commissions | None – zero commission across all account types |
| 🌙 Swap Fees | Charged on overnight positions — waived on Islamic (swap-free) accounts |
| 💤 Inactivity Fees | None – no charges for dormant accounts |
| 🕵️♂️ Hidden/Admin Fees | None disclosed – transparent pricing model |
| 🚀Sign up | 👉 Open Account |
Deposit Options (SA Access)
| 🏦 Method | 🌍 Availability | 💡 Notes for South Africans |
| 💳 Visa / Mastercard | ✅ Available | Works with SA cards (subject to bank approval) |
| 🔁 Bank Transfer | ✅Available (international) | No local ZAR bank details – forex fees may apply |
| 💱 ZAR Funding | Not available | Deposits are processed in USD only |
| ⚡ Instant Processing | For cards | Instant deposit confirmation (bank may take longer) |
| 🧾 Minimum Deposit | From $100 (~R1,800) | Standard account; higher for Pro ($500/±R9,300) |
| 🚀Sign up | 👉 Open Account | 👉 Open Account |
Processing Times
| 💼 Transaction Type | ⏱️ Speed | 📝 Notes |
| 💳 Deposits | Instant | Applies to cards & supported e-wallets |
| 💸 Withdrawals | 1–3 hours | Fast processing compared to industry standards |
| 🌍 Local Bank Support | Not available | SA users may face currency conversion delays |
| 🧾 Fees Applied? | None | Zero fees on deposits & withdrawals |
| 🚀Sign up | 👉 Open Account | 👉 Open Account |
Our SA Take:
- No deposit/withdrawal fees are a win.
- Lack of local deposit methods (like Ozow, EFT, SnapScan) is a drawback.
- No ZAR account means exposure to forex risk when converting between ZAR/USD.
- A funded account will cost around R10k, plus currency spread from your bank.
Min Deposit
USD 100
Regulators
SCA (UAE),
FSC (Mauritius)
Trading Platform
MT5
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Educational Materials + Trading Tools
Currently, Trade247 is a platform for independent traders. There’s no hand-holding, and no built-in learning curve support.
What’s “planned” (but not live yet):
- A blog
- Weekly webinars
- Structured education portal
- What you won’t find:
- No trading courses
- No platform tutorials
- No live market commentary or signals
New South African traders, especially those who need a “crash course” on forex or MT5, face a big gap. You’ll need to learn elsewhere before going live here.
However, for experienced traders who already know what they’re doing? The lack of fluff is a plus. It’s straight to trading, with no gated content or sales funnels.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Customer Support
Support is available 24/7, and that’s rare, even among big-name brokers. But it’s international-only, without any local South African phone line.
Despite this, you can contact Tade247 via WhatsApp on their phone number (with fast response times and friendly, helpful support).
Here’s how you can contact the support team:
| 💡 Support Channel | 📲 Details |
| 💬 Live Chat | On website + WhatsApp – 24/7, fast, and handled by real agents |
| 📧 Email Support | [email protected] – reply within a few hours |
| ☎️ Phone Support | +971 58 847 0281 – UAE number, also works for WhatsApp live chat |
| 🌐 Languages | English & Arabic supported |
| 📱 Social Media | Find them on Facebook, Instagram, X, – search "Trade247" |
What’s missing:
- No SA landline
- No local call-back or regional team
- No physical presence or regulatory link in SA
Pros and Cons
A South African trader’s reality is different—regulation, access, and currency all play a role. Here’s what Trade247 gets right (and what still needs work):
| ✅Pros | ❌Cons |
| Tight spreads from 0.2 pips – no commissions | No FSCA licence – regulated offshore only |
| Full support for MT5 platform across all devices | No ZAR base currency accounts |
| Instant account activation and fast funding options | Minimum deposit of $100/$500 can be high for some local traders |
| Access to forex, indices, crypto, and stocks | No local deposit methods (e.g., no EFT, SnapScan, Ozow) |
| Islamic (swap-free) accounts available on request | No South African phone support or local office |
| Withdrawals processed in 1–3 hours – fast turnaround | No local instruments like JSE shares or SA bonds |
| 24/7 live chat with real humans, including WhatsApp | No proprietary platform or social trading features |
Conclusion
Trade247 isn’t going to win over every South African trader, but it’s not trying to. This broker is (currently) ideal for self-sufficient, platform-literate traders who care more about tight spreads and fast execution than flashy (and unnecessary) add-ons.
Yes, Trade247 is an offshore broker. No, Trade247 isn’t FSCA regulated (yet). However, if you know how to manage forex conversion risk and want a low-fee, MT5-based platform that won’t nickel-and-dime you with commissions or withdrawal charges, Trade247 is a strong alternative to bigger names.
While Trade247 won’t teach you to trade, the broker won’t slow you down, especially if you prefer a diverse range of markets and trusted, feature-rich platforms like MetaTrader 5.
Frequently Asked Questions
Can I open a Trade247 account from South Africa?
Yes, South African residents are accepted. However, ZAR accounts, deposits, and withdrawals aren’t supported.
Does Trade247 support South African debit cards for deposits?
Yes, Trade247 accepts Visa and Mastercard, including debit cards issued in South Africa. However, since ZAR is not a supported base currency, your deposit will be converted to USD or another available currency.
Can I trade USD/ZAR on Trade247?
Yes, exotic currency pairs like USD/ZAR and GBP/ZAR are available via MT5.
How fast are withdrawals to SA banks or cards?
Usually processed within 1–3 hours, but bank settlement may vary.
Does the FSCA regulate Trade247?
No, it’s regulated by the SCA (UAE) and FSC (Mauritius).
Will I be taxed on profits made with Trade247 in South Africa?
Yes. Even though Trade247 is an offshore broker, South African tax residents are legally required to declare foreign income, including profits from trading. SARS may require supporting documents during tax season, and you must keep detailed trading records and consult a tax professional.
Can I receive withdrawals into a South African bank account?
Yes, but only via international SWIFT transfer. Trade247 does not offer local EFT or instant payment options like Ozow or SnapScan.
Does Trade247 offer any rebates or loyalty programmes for South African clients?
No. Trade247 doesn’t offer rebates, loyalty points, or trading cashback programmes to South African traders.
Is Trade247 a good option for part-time traders in South Africa?
It can be, especially for part-time traders with a working knowledge of MT5.
Are there any restrictions on trading cryptocurrencies from South Africa with Trade247?
No geographic restrictions are listed for South African clients trading crypto CFDs. You can trade popular crypto pairs like BTC/USD and ETH/USD. However, these are CFDs, not direct crypto purchases, and leverage may be limited depending on the asset.
