We found 11 online brokers that are appropriate for Trading South Africa Forex Brokers.
South Africa is indeed a great country with its fantastic economy.
The country is open to trade with the USA, Europe, as well as Asian countries. It has the biggest African Forex market with over $20 billion back in 2018. South African Rand ranks 19th in worldwide trading.
It has been one of the most interesting trading places for avid Forex players. There is plenty of opportunities that you can attain from the South African Forex market.
The Forex brokers have targeted traders in the Europe, US, and Asian countries. But many have also turned to South Africa since it has been increasingly appealing in terms of economic growth.
Forex trading is authorized and regulated by the official financial authority in South Africa the FSCA.
FSCA - Finance Service Conduct Authority creates and monitors Forex trading regulation, making sure that the traders and brokers will conduct the trading activities with the compliance to FSCA regulation.
All African brokerages should be compliant to the FSCA licenses. If you are trading from South Africa using the non-African brokerages, you will want to make sure that they are FSCA-licensed so that your activity will be protected and assured by the legal entities.
The brokerages which offer securities like CFDs will need to ensure their traders are able to cope with the risks and volatility of the market.
If you are interested in the derivative securities, you could access the Johannesburg Stock Market to attain the securities. You will want to assess the stock market first before proceeding to trade the securities. Stocks in the Johannesburg Stock Exchange also come with volatility and risks to consider.
The citizens of South Africa are not allowed to trade non-FSCA-licensed foreign brokerage platforms. The only solution which you can take is that you could join a brokerage which has at least one license in one of these jurisdictions: UK, Australia, and Cyprus.
In South Africa, there are two entities which have specific missions in protecting the traders and brokers.
FSCA oversees the Forex brokerages and other financial institutions and companies. FSCA is held as being responsible for approving firms which can operate in South Africa.
FSCA is the one which issues the licenses and sanction for the relevant financial companies.
Besides FSCA, there is another regulatory entity which is named the Prudential Authority. Prudential Authority monitors the financial activities which are conducted by the various financial companies and institutions except for the banks in the country.
Therefore, its main objective is to oversee the non-banking financial institutions.
On the other side, the South Africa's Reserve Bank also has a pivotal role in the trading. They hold the responsibility to maintain the financial markets at a stable status.
Depositing into a South African trading account is very easy. You will just need to deposit through your bank or use your credit card. The suggestion would be to proceed with a bank transfer as it is much safer than sharing your credit card information.
The brokerages located in South Africa have been evolving their payment experience by accepting digital transfers such as Neteller, Skrill, etc. It would be much easier for you to deposit if you have one of these payment accounts..
You can also send the funds directly from your bank account. Depending on the brokerage platform you are joining, you will want to look up to the bank and fill out all the information needed to proceed.
You will need to use decent trading software to trade currencies.
Depending on the brokerages you choose, you might need to pick and install the software on your desktop PC or laptop.
You can also trade with mobile trading apps, allowing you to access trading services anywhere, anytime you want.
If you are not sure about the best brokerage, you could try demo accounts first. Most of the brokerages offer demo accounts which mimic the real market conditions.
In this opportunity you will be able to use the demo account and test to trade with virtual money.
This means you do not need to spend your actual money when trying the platform. Demo accounts do not only give you the chance to test the features and performances of the platform, but also test the water.
Therefore, you will be able to use the working strategies and mitigate the risks by using the right services.
Most people who are aware of the tech of Forex trading will mostly consider using their smartphones to execute trades online. If you are mobile and want to trade while on the go, choosing a brokerage which comes with a mobile app will be beneficial.
We've collected thousands of datapoints and written a guide to help you find the best South Africa Forex Brokers Regulation for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best South Africa Forex Brokers below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online South Africa Forex 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 South Africa Forex Brokers.
Compare South Africa Forex Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are South Africa Forex Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more South Africa Forex Brokers that accept South Africa Forex Brokers clients
Broker |
eToro
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IC Markets
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XTB
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AvaTrade
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Roboforex
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FP Markets
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | 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) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) | Cyprus Securities and Exchange Commission (CySEC) | 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 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), 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 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) |
Min Deposit | 200 | 200 | No minimum deposit | 250 | 1 | 100 | 1 | 100 | 200 | 100 | 5 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 200,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps |
Support |
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Learn More |
Sign
Up with etoro |
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Up with icmarkets |
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Up with xtb |
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Up with avatrade |
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Up with roboforex |
Sign
Up with fpmarkets |
Sign
Up with trading212 |
Sign
Up with plus500 |
Sign
Up with pepperstone |
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Up with easymarkets |
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Up with xm |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% 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. | 72% of retail investor accounts lose money when trading CFDs with this provider | 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. | 76.4% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 | Your capital is at risk | Your capital is at risk |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
AvaTrade Demo |
Roboforex Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | 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, IN, PK, BD, NG , ID, BE | BE, BR, KP, NZ, TR, US, CA, SG | US, JP | US, JP, NZ | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY |
You can compare South Africa Forex 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 South Africa Forex Brokers for 2021 article further below. You can see it now by clicking here
We have listed top South Africa Forex Brokers below.