Successful South African Forex Traders (Updated 2024)

South African has the most advanced finance infrastructure of all African nations.

South Africa’s finance markets contribution to the national economy is considerable. The stock market is worth almost twice the country’s output larger than that of larger economies like Mexico, Indonesia and Turkey.

South Africa is the Largest Forex Market in Africa

Average daily rand turnover is estimated at 871.51 billion South African Rand for 2020.

The rand is in the worlds top twenty most heavily traded currencies with an average daily volume of 319.55 billion South African Rand turnover.

The South African forex market has many types of traders. Some trade to make a profit, others trade to reduce their risk and others use the goods and services in foreign currency only. The main participants who trade are the Commercial Bank, which is why the currency quote is determined in the Interbank Market Quote.

Apart from large commercial banks and central banks and multinational companies, there are many risk-seeking investors who are always ready to participate in a variety of estimates. Among them are individual investors, who make huge amounts of money on a daily / weekly basis.

Many of them analyze economic and political news, statistical releases and public engagement with influential people to make sense of the future price movement. Others rely on technical indicators, without any knowledge of what’s happening in the world.

There are many benefits that you can earn from Forex from the comfort of your home in this large international currency market.

You can start trading with a relatively small amount of capital in the forex markets and many have already started. The best part is that the Forex market is open 24 hours 5 days, so you can trade at your convenience.

Forex Trading in South Africa

South Africa has a long history of being on of the most important economic hubs in the whole of Africa.

South Africa is a multicultural country with a growing middle class. This has caused the gap between rich and poor to narrow.

While there is still great poverty in South Africa the amount of South Africa’s regularly making bank deposits has increased by 8% as of 2020.

The increased average per capita average wealth of each South African has increased the volume of financial trading by South Africans in both the domestic financial markets and the worldwide markets.

South Africa has a developed economic infrastructure and economy. South Africa is ranked 11th in all of Africa and 38th richest country overall worldwide based on average per capita assets.

Restructuring and deregulation has transformed the financial sector in South Africa during the last 3 decades with important changes in the Johannesburg Stock Exchange (JSE), insurance, banking, shipping, and commodity markets.

Since 2018 when President Cyril Ramaphosa took office, South Africa has been able to retain its credit rating.

The main South African securities markets include the Johannesburg Stock Exchange (JSE) which deals in officially listed stocks and shares,government issues, traded options, stock index options, currency options, foreign exchange, futures, metals, gold, silver, agricultural and other commodities.

Increasing regulations and financial restructuring has created a safer environment for South Africans. This has lead to a huge increase in the number of South Africans trading forex.

Trading on forex has a huge appeal to South Africans. The ability to earn an additional income or potentially make it a main source of income.

South Africans can trade the rapidly changing currency markets with just a computer, internet connection, and a deposit. Making forex trading very accessible for all South Africans.

South Africans Trading on the Johannesburg Stock Exchange

The Johannesburg Stock Exchange offers three main derivatives available to trade. You can trade more derivatives by trading with a regulated international broker.

Notable Successful Forex Traders in South Africa

There are some notable traders that are widely known through social media and the internet as trading on forex markets. We list some of them below. Please note we know none of the people below personally. Information about these traders has been gathered from the internet and social media.

George Soros

George Soros is probably the worlds most well known Forex trader. George Soros has a total calculated worth of $8 Billion USD. George is a famous stock investor, currency trader and businessman.

George Soros has been active in South Africa for over 40 years including many decades of philanthropic work in Africa in dating back to 1979.

George is famous for almost breaking the Bank of England by shorting and buying 10 billion USD worth of Pound Sterling in 1992.

Sandile Shezi

Sandile Shezi at only 26 is a well known forex trader in South Africa. Sandile explains that he came from poverty and found forex trading which became his passion. He used money that was meant for his studies to invest on the forex markets.

Sandile fondly remembers that he was willing to take the risk. Risking his whole years tuition fee investing in the international currency markets.

It is said that Sandile Shezi is now one of South Africa’s youngest millionaires through trading on the currency markets. This is a huge contrast to the ghetto that Sandile grew up in while attending his local studies. Sandile mentions George Van Der Riet as his mentor.

George Van Der Riet

George Van Der Riet originally from Cape town South African has worked and studied the financial markets in London England. George worked for many international financial institutions and has a history of experience in the forex industry. George moved back to South Africa in 2010 and it is now said George is one of South Africa’s most successful forex traders.

Bill Lipschutz

Bill Lipschutz is a world famous international equities trader born in New York. Upon inheriting $10,000 USD he made a plan and began to spend his inheritance on over 100 different stocks. legend has it that his initial investment of $12,000 became $250,000 USD. Bill joined the Foreign Exchange Department in 1984 and was soon generating over $300 million a year.

Successful Female Forex Traders in South Africa

Trading the currency markets in South Africa is not just for men. There are many very successful female traders.

Nelisiwe Masango

Nelisiwe Masango at a young age had a passion for the international financial markets. Nelisiwe began trading in her twenties and soon had success. Nelisiwe has had a meteoric successful rise to the top. Still in her twenties Nelisiwe has three financial organizations. Nelisiwe is actively working to raise awareness of the financial markets among South African women.

Tracy Britt Cool

Tracy Britt Cool is one of the worlds most successful female financial markets traders. Tracey graduated from Harvard Business school and has a spent her whole career in finance. Tracey’s career has seen her on the board of one of the worlds largest investment firms Berkshire Hathaway. Tracey has also been on the board of Kraft Heinz.

Tracey has facilitated trades worth over 3.8 billion USD on the international markets. Tracey is one of the most successful women in finance having overseen $4 billion USD worth of overseas investments including investments in South Africa.

What Can You Buy on the Forex Markets?

Besides currency, gold, silver, and oil are also sold on the Forex market. However, their prices do not fluctuate much. So you have to wait a longer time for dramatic price movements if you choose a medium other than currency. So everyone’s eye is more towards currency trading where profit can be made on the daily spreads of prices going up and down.

Trading in Forex helps that Country’s Economy

It should be kept in mind here that the currency of the country you have purchased and the amount you have purchased have basically bought some shares of the economy of that country. Suppose you buy some shares of a country whose economy is improving and you sell it when the price of your purchased shares goes up.

Basically this is your job in the Forex market. We know that the currency of that country is constantly changing depending on the economic infrastructure of each country. Sometimes the USD is strong against the Euro, and sometimes the USD is against the Euro.

Profiting in Forex Price Rise and Falls

The currencies of all such countries are strong against each other and some are weak.

That is, if the price of one currency in the pair increases, the price of the other decreases. So you can profit even if the price goes up and you can profit even if the price goes down. This is an advantage of trading in Forex. You cannot not necessarily do this in other forms of trading.

Traders wait in the traditional financial markets when prices fall to the lowest so that they can buy at lower prices and sell more.

But the concept of the highest or lowest price in the Forex market has no basis. Because, depending on the condition of the currency, there is no limit to the minimum or the maximum increase. With forex trading you can make a profit even if the price goes down as well as goes up.

How to get started with Successful Forex Trading in South Africa?

To trade forex, first of all, you need to open an account with a Forex broker company and make a deposit.

The account can be easily opened online by completing the form provided by the broker. With a bank account you can make a deposit your account immediately with a various online currencies like PayPal, AlertPay, Liberty Reserve, Moneybookers, WebMoney, Western Union or Credit or Debit Card, etc. and start trading forex.

How to fund your Broker Account

How to deposit your capital depends on the broker. Depending on what kind of money transfer they support, you need to make a deposit. How to make a deposit The broker’s site has detailed information, so there is no reason to worry.

Once the deposit is in your account you can start trading. Forex trading is done online through software. You can download this software from your broker’s web site for free. After installing the software and signing in with the user name and password given by the broker, it will load the various charts and price lists and you can open/close your trade.

Who Can Trade Forex?

People of any age, have the ability to come into the Forex market, but to be successful will require a lot of experience and study.

you do not have to necessarily study a 3 – 7 year degree in economics. Good knowledge of Forex related issues, regular market inquiries, proper analysis and practice to know that there are several ways to analyze the market is a good start. Your eyes should always be open to the financial markets.

Forex trading is not suitable for everyone. But for some Forex trading will allow you to learn allot and if successful turn a profit.

Traders who have a good understanding of English have an advantage in the forex markets.
There is a lot of news to analyze when understanding the sentiment of the market.
All the news may not be in the local publications, so it may be necessary to verify the market by reading and listening to foreign news and English news on the internet.

Who Will Likely Fail in Forex Trading

Forex Trading Advantages

The Difficulty of Forex Trading

Forex as a Full Time or Part Time Job

Its possible full-time Forex traders can have the same amount of income as part-time traders. Over 65% of the total traders in Forex are part-time traders.

When you starting out there is no need to trade full time. The main difference between full-time and part-time trading is the pressure, how much pressure you can take.

Successful Trading in South Africa Conclusion

Make yourself proficient in trading with as many demo accounts as you can before trading.
Always get help from skilled traders.

Most of those who are new to Forex face about 95% loss and only 5% have success.
This is because only 5% of traders do good market analysis.

Trading forex as with any investing can be quite risky.
The more knowledge you can acquire, the more likely you are to achieve success. So before you get into the world of Forex, make sure you are well prepared and understand the risks.

Forex trading is very risky. Forex trading should only be done with risk-taking money, which, in the words of investors, use the amount of money you can afford to lose.

South African Forex Brokers Guide

We've collected thousands of datapoints and written a guide to help you find the best Successful South African Forex Traders 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 Successful South African Forex Traders below. You can go straight to the broker list here.

Reputable South African Forex Brokers Checklist

There are a number of important factors to consider when picking an online South African Forex 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.

Our brokerage comparison table below allows you to compare the below features for brokers offering South African Forex Brokers.

We compare these features to make it easier for you to make a more informed choice.

Best 15 South African Forex Brokers of 2024 compared

Compare South African Forex Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are south african forex brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more south african forex brokers that accept south african forex clients

All South african forex brokers in more detail

You can compare South African 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.

Broker	IC Markets	Roboforex	eToro	XTB	XM	Pepperstone	AvaTrade	FP Markets	NordFX	EasyMarkets	SpreadEx	FXPro	Plus500	Admiral	ThinkMarkets	FXPrimus
Rating	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★☆☆	★★★☆☆	★★★☆☆
Regulation	Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)	RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund	FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076	FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19)	Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)	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	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), Central Bank of Ireland	Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB)	Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008	Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)	Financial Conduct Authority (FCA)	Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB)	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) FSA, 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, Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18), Plus500AE Ltd is authorised and regulated by the Dubai Financial Services Authority (F005651) DFSA	Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)	Financial Conduct Authority (FCA), Financial Sector Conduct Authority (FSCA), Financial Services Authority Seychelles (FSA), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority FRN 629628, TF Global Markets (AUST) Limited is the holder of Australian Financial Services License number 424700, TF Global Markets (South Africa)(Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835),TF Global Markets Int Limited Is authorised and regulated by the Financial Services Authority Firm Reference Number SD060, The Cyprus Securities and Exchange Commission (CySec)	Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)
Min Deposit	200	10	100	No minimum deposit	5	200	100	100	1	100	1	100	100	200	No minimum deposit	100
Funding	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal
Used By	180,000+	1,000,000+	30,000,000+	1,000,000+	10,000,000+	400,000+	300,000+	10,000+	10,000+	142,500+	10,000+	1,866,000+	24,000,000+	10,000+	500,000+	10,000+
Benefits	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection	Offers STP Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit	Allows scalping Allows hedging Low min deposit Guaranteed stop loss Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Guaranteed stop loss Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Low min deposit Guaranteed stop loss Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection
Accounts	Demo account Mini account Standard account Zero spread account Raw Spread account Islamic account	Demo account Micro account Mini account Standard account Zero spread account ECN account Islamic account	Demo account Standard account Islamic account	Pro account Demo account Micro account Mini account Standard account Islamic account	Demo account Micro account Standard account Islamic account	Demo account Standard account Zero spread account ECN account Islamic account	Demo account Micro account Mini account Standard account Managed account Islamic account	Demo account Micro account Standard account	Demo account Micro account Mini account Standard account Zero spread account ECN account Islamic account	Demo account Standard account Islamic account	Demo account Standard account	Demo account Mini account Islamic account	Demo account Standard account Islamic account	Demo account Micro account Mini account Standard account ECN account	Demo account Standard account Islamic account	Demo account Micro account Mini account Standard account ECN account Managed account Islamic account
Spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads
Platforms	MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android	MT4, MT5, Mac, Web Trader, Tablet & Mobile apps	Web Trader, Tablet & Mobile apps	MT4, Mirror Trader, Web Trader, Tablet & Mobile apps	MT4, MT5, Mac, Web Trader, Tablet & Mobile apps	MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps	Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5	MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps	MT4, MT5, Tablet & Mobile apps	MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps	Web Trader, Tablet & Mobile apps	MT4, MT5, cTrader, Tablet & Mobile apps	Web Trader, Tablet & Mobile apps	MT4, MT5, Mac, Web Trader, Tablet & Mobile apps	ThinkTrader, MT4, MT5, Mac, Web Trader, Tablet & Mobile apps	MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Learn More	Sign Up with IC Markets	Sign Up with Roboforex	Sign Up with eToro	Sign Up with XTB	Sign Up with XM	Sign Up with Pepperstone	Sign Up with AvaTrade	Sign Up with FP Markets	Sign Up with NordFX	Sign Up with easyMarkets	Sign Up with SpreadEx	Sign Up with FxPro	Sign Up with Plus500	Sign Up with Admiral Markets	Sign Up with ThinkMarkets	Sign Up with FXPrimus
Risk Warning	Losses can exceed deposits	Losses can exceed deposits	76% of retail investor accounts lose money when trading CFDs with this provider.	76-85% 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.	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.	75-95 % of retail investor accounts lose money when trading CFDs	71% of retail investor accounts lose money when trading CFDs with this provider	Losses can exceed deposits	Losses can exceed deposits	Your capital is at risk	Losses can exceed deposits	75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider	80% 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.	Losses can exceed deposits	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% 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
Demo	IC Markets Demo	Roboforex Demo	eToro Demo	XTB Demo	XM Demo	Pepperstone Demo	AvaTrade Demo	FP Markets Demo	NordFX Demo	easyMarkets Demo	SpreadEx Demo	FxPro Demo	Plus500 Demo	Admiral Markets Demo	ThinkMarkets Demo	FXPrimus Demo
Excluded Countries	US, IR, CA, NZ, JP	AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH	ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, 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, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR,	US, IN, PK, BD, NG , ID, BE, AU	US, CA, IL, IR	AF, AS, AQ, 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, VU, VG, EH, ES, YE, ZW, ET	BE, BR, KP, NZ, TR, US, CA, SG	US, JP, NZ	US, CA, EU, RU, SY, KP, CU	US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE	US, TR	US, CA, IR	MY, BE, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, LR, SD, LB, CM, MN, MH, LY	US, CA, JP, SG, MY, JM, IR, TR	RU, AF, Yugoslavia, AO, GM, NG, AW, GH, KR, BY, GN, BO, GN, PK, BW, HT, PG, IR, PN Island, Burma MM, IQ, RW, KH, , SN, CF, JP, Sierra, Leone, TD, KG, SO, CI , LB, SZ, CU, LS, SY, of CG, LR, TJ, DJ, LY, Tanzania, EC, Laos, TG, ER, ML, TM, ET, MN, UG, Falkland Islands, NA, US of America, FJ, NI, YE, ZW	AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC.

IC Markets

★★★★☆ (4/5)

Min deposit : 200
IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies
IC Markets was established in 2007 and is used by over 180000+ traders.

Visit IC Markets Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)

Roboforex

★★★★☆ (4/5)

Min deposit : 10
Roboforex offers Forex, CFDs
Roboforex was established in 2009 and is used by over 1000000+ traders.

Visit Roboforex Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund

eToro

★★★★☆ (4/5)

Min deposit : 100
eToro offers Social Trading, Stocks, Commodities, Indices, Forex (Currencies), CFDs, Cryptocurrency, Exchange Traded Funds (ETF), Index Based Funds
eToro was established in 2007 and is used by over 30000000+ traders.

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76% of retail investor accounts lose money when trading CFDs with this provider.

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076

XTB

★★★★☆ (4/5)

Min deposit : 0
XTB offers Forex, CFDs, Cryptocurrency
XTB was established in 2002 and is used by over 1000000+ traders.

Visit XTB Try a Demo Read review

76-85% 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.

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19)

★★★★☆ (4/5)

Min deposit : 5
XM offers Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs
XM was established in 2009 and is used by over 10000000+ traders.

Visit XM Try a Demo Read review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)

Pepperstone

★★★★☆ (4/5)

Min deposit : 200
Pepperstone offers Forex, CFDs, Social Trading
Pepperstone was established in 2010 and is used by over 400000+ traders.

Visit Pepperstone Try a Demo Read review

75-95 % of retail investor accounts lose money when trading CFDs

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by 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

AvaTrade

★★★★☆ (4/5)

Min deposit : 100
AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading
AvaTrade was established in 2006 and is used by over 300000+ traders.

Visit AvaTrade Try a Demo Read review

71% of retail investor accounts lose money when trading CFDs with this provider

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by 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), Central Bank of Ireland

FP Markets

★★★★☆ (4/5)

Min deposit : 100
FP Markets offers Forex, CFDs
FP Markets was established in 2005 and is used by over 10000+ traders.

Visit FP Markets Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB)

NordFX

★★★★☆ (4/5)

Min deposit : 1
NordFX offers Forex
NordFX was established in 2008 and is used by over 10000+ traders.

Visit NordFX Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008

EasyMarkets

★★★★☆ (4/5)

Min deposit : 100
easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto
easyMarkets was established in 2001 and is used by over 142500+ traders.

Visit easyMarkets Try a Demo Read review

Your capital is at risk

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)

SpreadEx

★★★★☆ (4/5)

Min deposit : 1
SpreadEx offers Forex, CFDs, and spread betting
SpreadEx was established in 1999 and is used by over 10000+ traders.

Visit SpreadEx Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA)

FXPro

★★★★☆ (4/5)

Min deposit : 100
FxPro offers Forex trading, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies
FxPro was established in 2006 and is used by over 1866000+ traders.

Visit FxPro Try a Demo Read review

75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, cTrader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB)

Plus500

★★★★☆ (4/5)

Min deposit : 100
Plus500 offers CFDs on Shares, Indices, Forex, Commodities, ETFs. Plus500CFD offers Options, Real shares available with Plus500Invest. Futures via the Plus500Futures platform. (Availability subject to region)
Plus500 was established in 2008 and is used by over 24000000+ traders.

Visit Plus500 Try a Demo Read review

80% 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.

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by 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) FSA, 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, Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18), Plus500AE Ltd is authorised and regulated by the Dubai Financial Services Authority (F005651) DFSA

Admiral

★★★☆☆ (3/5)

Min deposit : 200
Admiral Markets offers Forex, CFDs
Admiral Markets was established in 2001 and is used by over 10000+ traders.

Visit Admiral Markets Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)

ThinkMarkets

★★★☆☆ (3/5)

Min deposit : 0
ThinkMarkets offers Forex, CFDs
ThinkMarkets was established in 2010 and is used by over 500000+ traders.

Visit ThinkMarkets Try a Demo Read review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% 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

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

ThinkTrader, MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), Financial Sector Conduct Authority (FSCA), Financial Services Authority Seychelles (FSA), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority FRN 629628, TF Global Markets (AUST) Limited is the holder of Australian Financial Services License number 424700, TF Global Markets (South Africa)(Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835),TF Global Markets Int Limited Is authorised and regulated by the Financial Services Authority Firm Reference Number SD060, The Cyprus Securities and Exchange Commission (CySec)

FXPrimus

★★★☆☆ (3/5)

Min deposit : 100
FXPrimus offers Forex, Social Trading
FXPrimus was established in 2009 and is used by over 10000+ traders.

Visit FXPrimus Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)

Trading212

★★★☆☆ (3/5)

Min deposit : 1
Trading 212 offers Stocks, Forex, Commodities, Indices
Trading 212 was established in 2004 and is used by over 15000000+ traders.

Visit Trading 212 Try a Demo Read review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

Web Trader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA) Firm reference number 609146, Financial Supervision Commission (FSC), Cyprus Securities and Exchange Commission (CySec) License number 398/21

forexmart

★★★☆☆ (3/5)

Min deposit : 1
ForexMart offers Forex trading, CFD trading, Social trading, Share Dealing, Crypocurrency trading
ForexMart was established in 2015 and is used by over 10000+ traders.

Visit ForexMart Try a Demo Read review

Your capital is at risk

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4,WEB,desktop

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC)

Eightcap

★★★☆☆ (3/5)

Min deposit : 100
Eightcap offers Forex, CFDs
Eightcap was established in 2015 and is used by over 10000+ traders.

Visit Eightcap Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Australian Securities and Investments Commission (ASIC)

ForTrade

★★★☆☆ (3/5)

Min deposit : 100
ForTrade offers Forex, CFDs
ForTrade was established in 2014 and is used by over 1000000+ traders.

Visit ForTrade Try a Demo Read review

Your capital is at risk

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, Binary, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), National Bank of the Republic of Belarus (NBRB)

★★★☆☆ (3/5)

Min deposit : 10000
Interactive Brokers offers Forex
Interactive Brokers was established in 1977 and is used by over 10000+ traders.

Visit Interactive Brokers Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

Web Trader, NinjaTrader, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA)

Forex.com

★★★☆☆ (3/5)

Min deposit : 100
Forex.com offers Forex, Indices, Commodities, Equities, Cryptocurrencies
Forex.com was established in 1999 and is used by over 200000+ traders.

Visit Forex.com Try a Demo Read review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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.

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), The Australian Securities and Investments Commission (ASIC), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA), Commodities Futures Trading Commission (CFTC), The Monetary Authority of Singapore (MAS), Financial Services Agency (FSA), The Securities and Futures Commission (SFC), Cyprus Securities & Exchange Commission (CySEC)

★★☆☆☆ (2/5)

Min deposit : 0
IG offers Forex, CFDs, Spread Betting, Share dealing
IG was established in 1974 and is used by over 239000+ traders.

Visit IG Try a Demo Read review

Spread bets and 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 spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)

ETX Capital

★★★☆☆ (3/5)

Min deposit : 100
ETX Capital offers Forex, CFDs, Spread Betting
ETX Capital was established in 2002 and is used by over 10000+ traders.

Visit ETX Capital Try a Demo Read review

Losses can exceed deposits

Funding methods

Bank transfer
Credit Card
Paypal

Platforms

MT4, Mac, Mirror Trader, Binary, Tablet & Mobile apps

Spread type

fixed spreads
variable spreads

Customer support

Live chat
Phone support
Email support

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA)

Successful South African Forex Traders Review by Andrew Blumer last updated on May 10, 2024

South African Forex Brokers Table of Contents

Successful South African Forex Traders
Forex Trading in South Africa
Notable Successful Forex Traders in South Africa
George Soros
Sandile Shezi
George Van Der Riet
Bill Lipschutz
Successful female Forex traders in South Africa
Nelisiwe Masango
Tracy Britt Cool
What Can You Buy on the Forex Markets?
Profiting in Forex Price Rise and Falls
Who Can Trade Forex?
Who Will Likely Fail in Forex Trading
Forex Trading Advantages
The Difficulty of Forex Trading
Forex as a Full Time or Part Time Job
Successful Trading in South Africa Conclusion
South African Forex Brokers Explained
6 Factors to Consider when Choosing South African Forex Brokers
Are Your South African Forex Brokers Trusted And Established?
Are The South African Forex Brokers World Leading?
What are the South African Forex Brokers Commissions and Fees?
What are the South African Forex Brokers Funding and Withdrawl Methods?
Find South African Forex Brokers with Round-the-clock support?
Make sure the South African Forex Brokers Offer Comprehensive Trader resources?
Why do South African Forex Brokers need to be regulated?
Related South African Forex Brokers Reviews
Related South African Forex Brokers Alternatives
Related South African Forex Brokers Comparisons
South African Forex Brokers FAQ
Who is the richest forex trader in South Africa?
How successful are forex traders?
Can you get rich by trading forex?
How do you trade Forex?

South African Forex Brokers Explained

Trading the financial markets with South African Forex Brokers when conditions are volatile can be difficult, even for experienced traders.

Apart from the educational and other resources made available online, another important factor for traders to consider when looking for South African Forex Brokers is the platform that a South African Forex Brokers offer.

Choose South African Forex Brokers that's at the forefront of innovation and generally considered an industry-leader.

To gain access to the financial markets, you'll need South African Forex Brokers that you can rely on.

6 Factors to Consider when Choosing South African Forex Brokers

Follow these five rules for selecting a broker that's right for you:

Are Your South African Forex Brokers Trusted And Established?

Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The best rated South African Forex broker is IC Markets. Established in 2007, and in operation for 12 years IC Markets have a head office in Australia.

IC Markets is regulated. This means IC Markets are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

Another best rated broker is Roboforex.

Roboforex was established 2009, and in operation for 9 years Roboforex have a head office in Belize.

Roboforex is regulated. This means Roboforex are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

Broker	IC Markets	Roboforex	eToro	XTB
Year Established	2007	2009	2007	2002
Head Office	Australia	Belize	Cyprus, UK	Poland
Regulation	Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)	RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund	FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076	FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19)
Used By	180,000+	1,000,000+	30,000,000+	1,000,000+
Negative balance protection	Yes	Yes	Yes	Yes
Guaranteed Stop Loss	No	No	No	No
Learn More	Visit IC Markets	Visit Roboforex	Visit eToro	Visit XTB
Risk Warning	Losses can exceed deposits	Losses can exceed deposits	76% of retail investor accounts lose money when trading CFDs with this provider.	76-85% 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.

Are The South African Forex Brokers World Leading?

Choose a broker that's at the forefront of innovation and generally considered an industry-leader. IC Markets Segregates clients funds and offers over 2250 instruments. IC Markets offers both an online trading platform as well as a mobile platform giving clients easy access to markets.

In addition, IC Markets supports many popular third-party trading platforms enabling access to a variety of markets worldwide that can be traded with the assistance of expert advisors or a customizable automatic trading strategy. IC Markets is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.

Another good choice when looking for South African Forex Brokers is Roboforex . Roboforex Segregates clients funds and offers over 100 instruments.

Broker	IC Markets	Roboforex	eToro	XTB
Instruments Available	2250	100	5000	5600
Platforms	MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android	MT4, MT5, Mac, Web Trader, Tablet & Mobile apps	Web Trader, Tablet & Mobile apps	MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
Excluded Countries	US, IR, CA, NZ, JP	AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH	ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, 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, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MG, MK, MO, UA, JO, KR,	US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR
Forex pairs offered	61	35	50	57
Forex pairs offered	61	35	50	57
Major forex pairs	Yes	Yes	Yes	Yes
Minor forex pairs	Yes	Yes	Yes	Yes
Exotic forex pairs	Yes	Yes	Yes	Yes
Cryptocurrencies	Yes	No	Yes	No
Commodities Offered	20	21	31	21
Metals	Yes	Yes	Yes	Yes
Energies	Yes	No	Yes	Yes
Agricultural	Yes	No	Yes	Yes
Stocks Offered	2100	0	2042	1696
UK Shares	Yes	Yes	Yes	Yes
US Shares	Yes	Yes	Yes	Yes
German Shares	Yes	Yes	Yes	Yes
Japanese Shares	Yes	Yes	Yes	Yes

What are the South African Forex Brokers Commissions and Fees?

Ensure that your broker is transparent with fees and those dues are competitive.

The best rated South African Forex broker IC Markets offers competitive offers for Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. IC Markets minimum deposit is 200.

Another best rated South African Forex broker Roboforex offers Forex, CFDs. Roboforex minimum deposit is 10.

Broker	IC Markets	Roboforex	eToro	XTB
Min Deposit	200	10	100	0
Withdrawl Fees	No	Yes	Yes	varies
Inactivity Fees	No	No	Yes	Yes
Deposit Fees	Varies	No	No	No
CFD Commission Fees	Yes	No	Yes	Yes

What are the South African Forex Brokers Funding and Withdrawal Methods?

When dealing with South African Forex Brokers having convenient funding and withdrawl facilities makes the trading process and your trading experience smoother.

Broker	IC Markets	Roboforex	eToro	XTB
Bank transfer	Yes	Yes	Yes	Yes
Credit Cards	Yes	Yes	Yes	Yes
Paypal	Yes	No	Yes	Yes
Skrill	Yes	No	Yes	Yes
Payoneer	No	Yes	No	Yes
Neteller	Yes	Yes	Yes	Yes

Find South African Forex Brokers with Round-the-clock support?

Customer service is very important when dealing with South African Forex Brokers.

When investing and dealing with brokers customer support can be a range of customer services to assist customers in making cost effective and correct use the brokers services. It can include assistance in installation, training, troubleshooting, upgrading, and cancelation of a product or service.

South African Forex Brokers customer support can include Phone answering services, Live chat support and Email customer service support.

IC Markets support a wide range of languages including English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more

Roboforex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian

IC Markets and Roboforex offer support where clients are able to call or contact the helpdesk via email or a chat service.

Broker	IC Markets	Roboforex	eToro	XTB
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Languages	English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more	English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian	English, German, Spanish, French, Italian	English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More	Visit IC Markets	Visit Roboforex	Visit eToro	Visit XTB
Risk Warning	Losses can exceed deposits	Losses can exceed deposits	76% of retail investor accounts lose money when trading CFDs with this provider.	76-85% 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.

Make sure the South African Forex Brokers Offer Comprehensive Trader resources?

Make sure your broker offers free resources like analysis, education and risk-management tools. With a wealth of knowledge from best analysts, IC Markets and Roboforex work together to bring the latest news and insights to traders.

For most traders, the first – and sometimes only – concern is pursuing their 'edge'. While that is surely important, along with sound money management habits, to navigating the markets; that step alone does not represent the full preparation. As each trader dives into this important venture, it is important not to forget the most rudimentary yet crucial steps such as selecting the best broker to access the markets.

Why do South African Forex Brokers need to be regulated?

A regulated South African Forex broker lowers your risk.

Broker regulation protects consumers. Too little broker regulation can lead to poor services and possibly financial harm.

South African Forex brokers are regulated to stop fraud. The agent's working capital and clients funded account have to be separated. This amounts to fraud if client money is used to conduct the business. Regulation is required to make sure this does not happen.