We found 11 online brokers that are appropriate for Trading Brokers.
There are many profitable Forex traders in South Africa with remarkable stories that inspired new traders throughout the country.
Not only the knowledge, but the successful traders from this South Africa also show us how patience and risk-management affect their progress. In fact, those elements are now translated to basic skills every trader should learn and develop. Capturing every profitable opportunity is possible with balancing those soft skills.
South Africa is home to many wealth Forex traders but there is an interesting fact. These traders are coming from different backgrounds.
Another similarity is that they are all consistent and passionate in Forex trading. This also shows us that Forex trading can be taught and there are some points where everyone can be successful.
The successful stories of Forex traders in South Africa have inspired so many individuals to take big steps on trading. South Africa has gone through rapid and positive development especially in technology and information.
The internet infrastructure also takes part in the massive growing interest in Forex trading throughout the South Africa. There could have been thousands of citizens who are now active traders.
If you read the ten top traders in the country, you would know that Forex trading can possibly make you rich. In fact, people are becoming rich around the world with this currency trading. No matter what financial condition, occupation, or education is, anyone can trade Forex and become rich.
Anyone can trade currencies even the smallest amount of deposit with their new account. Being a professional trader is a thing, but the good news is that anyone can start and get to know it. Even those rich traders were beginners while some of them were poor. They are now worth several million to billions of dollars.
What you need is the starter pack as the beginner trader. Entering the market and cutting the noise could be a daunting task at first. What you need is to find a reputable broker, analyze the currency market, and make your first move. Unload your pack and start trading now. Don’t forget to have passion over your trades.
Forex trading is simply currency trading where a trader sells one currency and buys another and so on. The total average of Forex daily transactions speaks for trillions of dollars or hundreds of billions of dollars per hour. US Dollars dominate the concentration of trading volume along with the Euro and Yen.
South Africa’s traders can start their account with a very minimum deposit from as little as USD 5. However, you may need a couple of hundreds of dollars for a deposit to obtain leverage you can use for your trading.
Forex trading is often misunderstood as gambling and all that is the stereotype people with no trading experience to traders. Many people think that they would lose their money on Forex trading. Of course, you can lose your money in trading but not because you are gambling but mostly because you cannot capture profitable opportunities. Ignoring multiple factors of trading can a trader have unsuccessful trades.
The fact is that Forex trading works like other trading except that now many people are using virtual interfaces to trade currencies. Building and executing workable trading strategies is the secret to success.
Learning theories and practices would make trading decisions more mature over time. When a trader reaches that point, they’d earn the profit and multiply their deposit.
Many people also think that Forex trading requires a lot of money at the forefront but we’ve clarified this stereotype above.
Forex trading has shown to be a special phenomenon in South Africa that is different from other countries. There has been a huge growth in active Forex traders in South Africa.
South Africa’s government has responded to this dynamic very wisely by encouraging the relevant regulators to support the massive growth of Forex trading in the country. These regulations also aim to protect and develop a healthy currency market.
There are successful and unsuccessful trades in the Forex market that shorten the gap between profit or loss. Risks are there and should be clearly understood when trading but FX trading offers a potential solution for financial freedom.
South African traders have considered Forex trading a part of their investment strategy going forward. With patience,passion, and an internet connection, any South African can begin trading world currencies online.
We've collected thousands of datapoints and written a guide to help you find the best Forex traders in south africa for you. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Brokers below.
There are a number of important factors to consider when picking an online Brokers trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Brokers.
Compare Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Brokers that accept Brokers clients
Broker |
IC Markets
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Roboforex
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AvaTrade
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XTB
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Pepperstone
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XM
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NordFX
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FP Markets
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Trading212
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Plus500
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EasyMarkets
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039), Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) |
Min Deposit | 200 | 1 | 100 | No minimum deposit | 200 | 5 | 1 | 100 | 1 | 100 | 100 |
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Used By | 180,000+ | 10,000+ | 300,000+ | 250,000+ | 89,000+ | 3,500,000+ | 10,000+ | 10,000+ | 15,000,000+ | 15,500+ | 142,500+ |
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Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with icmarkets |
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Up with roboforex |
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Up with avatrade |
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Up with xtb |
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Up with pepperstone |
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Up with xm |
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Up with nordfx |
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Up with fpmarkets |
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Up with trading212 |
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Up with plus500 |
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Up with easymarkets |
Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 71% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74-89 % of retail investor accounts lose money when trading CFDs | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk |
Demo |
IC Markets Demo |
Roboforex Demo |
AvaTrade Demo |
XTB Demo |
Pepperstone Demo |
XM Demo |
NordFX Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
easyMarkets Demo |
Excluded Countries | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, JP | BE, BR, KP, NZ, TR, US, CA, SG | US, IN, PK, BD, NG , ID, BE, AU | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW | US, CA, IL, KR, IR, MM, CU, SD, SY | US, CA, EU, RU, SY, KP, CU | US, JP, NZ | US, CA | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | US |
You can compare Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Brokers for 2022 article further below. You can see it now by clicking here
We have listed top Brokers below.