9 Best Forex Brokers in South Africa for 2026
Finding the right forex broker in South Africa means balancing strong regulation, local access, and fair trading conditions. Not all international brokers fully cater to South African traders, which is why we spent time creating this dedicated guide for local clients.
- How this list works. Our editors choose brokers that meet this page's criteria and impressed us in testing. The list is not in score order. Brokers pay to appear on our site, which can affect which brokers we feature and where. No broker can pay to change a score or a verdict.
- The authority on broker reviews since 2011. Traders have relied on our independent testing for over a decade.
- 70+ brokers tested. We test leading brokers the same way, so we can compare them fairly.
- Every broker takes the same test. One published scoring system, with 9 weighted categories and 250+ variables, all measured hands-on by our analysts.
- Key facts are checked before publishing. An editor re-checks licenses, spreads and fees against our test data.
We shortlisted brokers that accept South African residents and operate under FSCA regulation, giving traders a clear layer of protection. We favored brokers that provide local customer support and offer bonuses or regional perks for South African traders.
Beyond local access, we tested the full trading experience. That included verifying support for the South African Rand (ZAR) as a base currency and for deposits and withdrawals, assessing platform usability and features, and testing and comparing trading fees. The brokers featured in this guide are the ones that combine strong local regulation, practical platforms, and competitive pricing.
List of Top Forex Brokers in South Africa
Compare All Listed Brokers
| Broker | Score | Fees Score | Min Deposit | Max Leverage | Platforms | Visit Broker |
|---|---|---|---|---|---|---|
 Exness | 4.6 | 4.6 | $10 | 1:2000 (FSCM) 1:100 (JSC) · 1:1000 (BVI FSC) · 1:400 (CMA) · 1:2000 (FSCA) · 1:2000 (FSA) · 1:30 (CySEC) · 1:2000 (CBCS) · 1:30 (FCA) | MT5, MT4, Exness Terminal | General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs. |
 FP Markets | 4.6 | 4.1 | $0 | 1:500 (FSA) 1:500 (FSCM) · 1:500 (Unregulated) · 1:500 (FSCA) · 1:400 (CMA) · 1:30 (ASIC) | MT5, cTrader, IRESS, MT4, Mottai, TradingView | Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested. |
 FxPro | 4.4 | 3.6 | $0 | 1:30 (FCA) 1:200 (SCB) · 1:10000 (FSA) · 1:30 (CySEC) · 1:10000 (FSA) | MT5, cTrader, MT4, FxPro Trading Platform, FxPro Mobile App, TradingView | 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 money. (EU, UK) |
 IronFX | 4.4 | 4.0 | $50 | 1:30 (FCA) 1:500 (FSCA) · 1:2000 (BVI FSC) · 1:30 (CySEC) | MT4 | Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. |
 IUX | 4.3 | 4.9 | $30 | 1:3000 (FSCA) 1:3000 (FSCM) · 1:30 (ASIC) · 1:3000 (Unregulated) | MT5, IUX Web Trade, IUX App Trade | This website is not designed to encourage or promote trading activities. Please note that leveraged margin trading and binary options carry significant risks, including the potential for rapid financial losses. |
 Vantage | 4.6 | 4.4 | $50 | 1:30 (ASIC) 1:30 (FCA) · 1:1000 (FSCM) · 1:1000 (FSCA) · 1:2000 (VFSC) · 1:1000 (CIMA) | MT4, MT5, TradingView, Vantage App, Vantage Web Trading | Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. |
 ATFX | 4.3 | 3.2 | $50 | 1:30 (FCA) 1:400 (SFC) · 1:500 (FSA) · 1:400 (CMA UAE) · 1:500 (FSCM) · 1:400 (FSCA) · 1:30 (ASIC) · 1:500 (SERC) · 1:30 (CySEC) | MT4, MT5, ATFX Trading App | Trading Foreign Exchange (Forex) and Contracts for Differences (CFDs) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. |
 AvaTrade | 4.5 | 4.2 | $100 | 1:400 (FSCA) 1:400 (ADGM) · 1:30 (ASIC) · 1:200 (BVI FSC) · 1:25 (JFSA) · 1:30 (ISA) · 1:30 (CySEC) · 1:30 (CBI) | AvaOptions, AvaSocial, MT5, Proprietary, MT4, DupliTrade, Ava Web Trader, AvaTrade App | Trading CFDs and FX Options entail risk and could result in the loss of your capital. |
 XM Group | 4.4 | 3.1 | $5 | 1:1000 (IFSC) 1:30 (DFSA) · 1:1000 (CMA UAE) · 1:1000 (FSCA) · 1:1000 (FSA) · 1:1000 (FSCM) · 1:30 (CySEC) · 1:400 (CMA) · 1:1000 (BVI FSC) | MT5, MT4, XM Web Platform, XM Mobile App | Forex and CFD trading involves significant risk to your invested capital. |
How Did FXEmpire Select the Best Forex Brokers in South Africa?
- We focused on brokers that accept South African residents and are regulated by the Financial Sector Conduct Authority (FSCA).
- We checked if the brokers have offices in South Africa.
- We made sure that the brokers provide local customer support for South African residents.
- We checked if the brokers offer bonuses and other perks for South Africans.
- We preferred brokers that provide South African Rand (ZAR) for deposit and withdrawal and as a base currency.
- We focused on trustworthy brokers that provide a high level of protection for their clients.
- We listed brokers that have user-friendly and feature-rich platforms.
- We focused on brokers with low fees.
Without further ado, let’s move to the selected brokers.
Best Overall
- $10Min Deposit
- 293Tradable Instruments
- LowFees
Why We Picked It
Founded in 2008, Exness offers trading in forex, crypto, stocks, indices, metals, and commodities. Exness is regulated by multiple regulators, including FSCA, CySEC, and FSA. The broker provides access to its proprietary Trading Terminal platform, as well as to MetaTrader 4 and MetaTrader 5.
Regional Features
- FSCA regulation No 51024
- Office in South Africa: 307&308 North Wing, Third Floor, Granger Bay Court V & A Waterfront, Capetown
- ZAR available as account base currency
- ZAR available in forex pairs.
- Leverage 1:unlimited
Professional traders can access the advanced tools that are available on the MetaTrader platform and take advantage of the high leverage provided by Exness. The MetaTrader platform provides advanced charting, trading signals, and access to Expert Advisors – software programs designed to automate trading strategies on the MetaTrader platform.
The broker offers a wide range of deposit and withdrawal methods, including cryptocurrency. Advanced traders also can benefit from Virtual Private Server (VPS) and a wide range of research materials, including Trading Central Web TV. Exness boasts of its competitive spreads and minimal swap fees. Based on our tests, the spreads for EUR/USD fluctuated between 0.8 and 1, whereas the spreads for WTI oil were 0.062.
Pros and Cons
- Instant withdrawals 24/7.
- Offers Virtual Private Server (VPS).
- No swap fees for most instruments.
- No withdrawal fees.
- The range of instruments does not come close to the range of tradable assets offered by industry leaders.
Best for Automated Trading
- $0Min Deposit
- 10180Tradable Instruments
- MediumFees
Why We Picked It
Founded in 2005, FP Markets offers trading in forex, commodities, stocks, ETFs, indices, and cryptocurrencies. FP Markets is regulated by CySEC, ASIC, and FSCA, and also has an unregulated entity registered in St. Vincent & the Grenadines. The broker offers the popular MetaTrader 4 and MetaTrader 5 platforms, cTrader, and iRESS (for the ASIC-regulated entity).
Regional Features
- FSCA regulation No 50926.
- ZAR in trading pairs.
- Leverage up to 1:500.
From our research, beginner traders will benefit from strong customer support and a wide range of educational materials. The broker offers a rich collection of highly informative webinars and podcasts on its YouTube channel, as well as a very detailed glossary, which explains various financial terms.
Our tests showed that FP Markets offers low-to-medium spreads compared to the industry average. For example, we measured EUR/USD spreads in the 1.0–1.2 range during our tests.
The broker provides multiple deposit and withdrawal methods, including cryptocurrencies. FP Markets does not charge deposit or withdrawal fees.
Pros and Cons
- Strong research and educational support.
- Reliable customer service.
- No withdrawal fees.
- Wide spreads in some instruments.
- A limited number of stocks to trade.
Best Order Execution
- $0Min Deposit
- 2090Tradable Instruments
- HighFees
Why We Picked It
FxPro is a broker that excels in many areas, but its order execution performance is especially impressive. The company was established in 1999 and has its headquarters in London. FxPro clients can choose from more than 2100 tradable instruments across currency pairs, commodities, share CFDs, indices, cryptocurrencies, and ETFs.
Regional Features:
- FSCA regulation No 45052.
- ZAR in trading pairs.
- Leverage up to 1:400.
I discovered that FxPro achieves lightning-fast execution speeds, averaging 12 milliseconds, beating the industry average of 60 milliseconds. It also reports that 84% of client orders are filled at the requested price or even better. To cap it all off, FxPro provides Virtual Private Server (VPS) hosting for stable internet connectivity. The service is available for free to Premium accounts.
High-precision traders can use FxPro’s lightning execution speeds on its flagship web platform, which features a wide selection of analytical tools and chart configurations. The platform boasts fluid and high-definition charting capabilities that are sure to satisfy even the most demanding traders.
Alternatively, FxPro offers the renowned MT4, MT5, and cTrader, which can be used for trade automation via Expert Advisors (EAs). The three platforms also have built-in strategy testers so that algo traders can perfect the parameters of their strategies.
For enhanced performance, I recommend FxPro’s Raw account type, which features a $7 round-turn commission per traded lot and raw spreads from 0.0 pips. The account type is available against a low initial deposit of only $100. Live testing revealed that FxPro’s fees sit in the upper range across the board.
Pros and Cons
- Ultra-fast order execution
- Versatile trading platform
- Automated trading
- Great selection of tradable instruments
- Average-to-high spreads on Standard account
Best MT4
- $50Min Deposit
- 311Tradable Instruments
- MediumFees
Why We Picked It
Founded in 2010, IronFX offers trading in forex, commodities, stocks, indices, and cryptocurrencies. The broker is regulated by CySEC, FCA, and FSCA.
Regional Features
- FSCA regulation No 45276
- South Africa office: 5-38 Katherine & West, 114 West Street, Sandton
- Leverage: up to 1:500
- ZAR available in forex pairs
- Non-withdrawable bonuses of up to 100% on the first deposit
IronFX provides traders with access to the MetaTrader 4 platform which offers a wide range of technical analysis indicators and timeframes. Additionally, IronFX’s MT4 includes MultiTerminal allowing traders to manage multiple accounts from a single terminal. To aid in making informed trading decisions, IronFX integrates Trading Central where traders can benefit from numerous analysis tools and resources for conducting thorough research.
The broker provides 7 types of accounts, including floating and fixed-spread accounts, as well as a commissions-based Live Zero Fixed Spread account. Traders will also benefit from multiple deposit and withdrawal options.
Pros and Cons
- Seven accounts to choose from.
- Multiple deposit and withdrawal options.
- Islamic Account option for four accounts.
- Weak research support.
Best Trading App
- $30Min Deposit
- 132Tradable Instruments
- LowFees
Why We Picked It
IUX is a financial derivatives broker based in Mauritius, with operations in South Africa under the supervision of the FSCA. The broker offers 130+ tradable instruments at extremely favorable costs. But its greatest perk is the powerful IUX Trade App.
Regional features:
- FSCA regulation No 53103
- South Africa office: 18 Cavendish Road, Claremont, Cape Town, Western Cape, 7708
- Leverage: up to 1:3000
- ZAR available in forex pairs
I downloaded the broker’s proprietary app, which is also available to traders in South Africa, from the Google Play Store. I had it installed promptly and was ready to place orders in minutes. The first thing that struck me about the app was its user-friendly interface. It is super easy to switch between the different trading modes, and even first-time traders can navigate it with relative ease.
I placed a couple of market orders on the USDZAR in quick succession directly from the IUX Trade App. I experienced no requotes and no negative slippage.
The other highlight of my testing was the app’s sophisticated charting capabilities powered by TradingView. Price action is illustrated in great detail even on small-screen devices, making the IUX app a suitable option for trading on the go. Last but not least, the app features personalized PINs and biometric logins, providing an extra layer of protection.
Pros and Cons
- Very competitive spreads
- Easy-to-navigate trading app
- TradingView-powered charts
- Leverage up to 1:3000
- Narrow selection of tradable instruments
Best Low Spreads
- $50Min Deposit
- 1056Tradable Instruments
- LowFees
Why We Picked It
Vantage is an Australian-based forex and CFD broker founded in 2009. It offers more than 940 tradable instruments across currency pairs, commodities, share CFDs, indices, cryptocurrencies, ETFs, and futures contracts. This diversity is complemented by favorable trading fees and a choice of trading platforms.
Regional features:
- FSCA regulation No. 51268.
- Office in South Africa: 164 Blaauwberg Road Tableview, Cape Town.
- Leverage: up to 1:500.
- ZAR available in forex pairs.
- Local customer support available.
I assessed Vantage’s spreads on a Raw ECN account, which features spreads from 0.0 pips and a $6 round-turn commission per traded lot. This account type has an extremely low minimum deposit requirement of $50, making it quite accessible.
Broken down by asset class and compared to the industry average, Vantage charges low spreads on currency pairs, share CFDs, indices, and cryptocurrencies, and low-to-average spreads on commodities.
I also appreciated the fact that Vantage offers free Virtual Private Server (VPS) hosting to funded accounts with at least $1000 and a monthly traded volume of at least $0.5 million. This service allows traders to achieve average execution speeds below 5 milliseconds for high-precision trading and minimum risk of negative slippage.
Vantage incorporates MetaTrader 4, MetaTrader 5, ProTrader, and the TradingView. The latter has advanced charting capabilities, affording technical traders a comprehensive overview of price action behavior. The platform has more than 100 analytical tools and other chart configurations. Furthermore, it has two trading regimes: hedging and one-click trading.
Pros and Cons
- Rock-bottom spreads
- Low minimum deposit requirement
- Choice of trading platforms
- Free VPS hosting
- Execution speeds above 100 milliseconds
Best for Beginners
- $50Min Deposit
- 380Tradable Instruments
- HighFees
Why We Picked It
Established in 2017 and headquartered in the United Kingdom, ATFX is a financial derivatives broker that offers over 350 tradable instruments across currency pairs, commodities, share CFDs, indices, cryptocurrencies, ETFs, and futures.
Regional Features:
- FSCA regulation No 44816.
- ZAR in trading pairs.
- Leverage up to 1:500.
Novice traders can benefit from ATFX’s reliable customer support and extensive collection of educational materials. The broker absolutely shines in the education category with a dozen published e-books and hundreds of written articles. Beginners can learn about trading essentials, such as technical analysis, fundamental analysis, trading psychology, and risk management.
I conducted my testing on the ATFX Standard account, which has no commissions and floating spreads from 1.8 pips. The account features a minimum deposit of only $50 and a maximum retail leverage of up to 1:500.
ATFX incorporates the standard suites of MetaTrader 4 and MetaTrader 5. They accommodate basic technical analysis and offer easy order execution. Beginners can also use ATFX CopyTrade, allowing them to mirror the performance of successful signal providers.
Pros and Cons
- Rich collection of educational content
- Low minimum deposit
- Copy trading
- Research from Autochartist and Trading Central
- High spreads on some instruments
Best for Professional Traders
- $100Min Deposit
- 1472Tradable Instruments
- MediumFees
Why We Picked It
Founded in 2006, AvaTrade provides access to more than 1250 instruments in forex, stocks, indices, commodities, cryptocurrencies, and FX options. The broker is regulated by top-tier regulators like ASIC, CySEC, and the FSA of Japan, as well as by the local South African regulator FSCA.
Regional Features
- FSCA regulation No.45984
- Office in South Africa: No. 70 Grayston Drive, 2nd Floor, Sandton, Johannesburg
- ZAR in trading pairs
- Local customer support
- Leverage: Up to 1:400
Our research indicated that AvaTrade provides a wide range of trading platforms, including MetaTrader 4 and MetaTrader 5, as well as in-house mobile trading apps AvaTradeGo and AvaSocial. AvaTradeGo is a simple-to-use mobile app, which offers some useful technical tools and features. AvaSocial is designed for those interested in social trading allowing broker’s clients to copy the trades of successful traders.
The broker also offers solid research and educational support, which is important for both beginner and advanced traders. Our tests indicated that AvaTrade’s trading fees for Forex and commodities were better than the industry average. For example, the spread for EUR/USD was 0.9 pips.
Pros and Cons
- Multiple account types.
- 1,250+ instruments in forex, stocks, indices, commodities, and cryptocurrencies.
- Regulated by top-tier regulators, including FSCA.
- No alerts on the web platform.
- High inactivity fee.
Best Trading Platform
- $5Min Deposit
- 1372Tradable Instruments
- HighFees
Why We Picked It
XM is an established forex and CFD broker with more than 15 years of operating history and a global client base. Based in Cyprus, it’s regulated in multiple regions, including by top-tier authorities such as CySEC, which supports a solid baseline level of trust, oversight, and transparency.
Regional Features:
- FSCA regulation No 49976
- Office in South Africa: Portside Building Office 1101D 4 Bree Street, Cape Town, Western Cape
- ZAR in trading pairs.
- Leverage: Up to 1:400
XM Web Platform delivers a strong mix of simplicity and depth for a browser-based trading solution. In my testing, it felt intuitive for beginners yet powerful enough for active traders, with one-click trading, robust charts, Trading Central signals, and a Reuters news feed. You also get watchlists, alerts, and essential order types, without clutter or a steep learning curve.
XM’s pricing is best viewed as flexible rather than one-size-fits-all. While the Standard account has wider-than-average spreads, the Ultra Low account delivers much more competitive pricing, including tighter spreads and swap-free trading on many instruments.
The XM Web Platform provides access to a broad instrument lineup, spanning forex, commodities, indices, shares, and cryptocurrencies. These include 55 FX pairs, 1,200+ stocks, 60 crypto pairs, and a strong mix of spot and futures CFDs. I noted that unique additions like Turbo Stocks and Thematic Indices add flexibility beyond industry norms.
Pros and Cons
- Excellent platform design
- 24/7 customer support
- Copy trading
- Signals from Trading Central
- Standard Account spreads could be better
All Brokers That Accept Clients from South Africa
| Broker | Entity for South Africa | Max Leverage | Score | Fees Score | Min Deposit | Platforms | Visit Broker |
|---|---|---|---|---|---|---|---|
Raw Trading Ltd FSA Seychelles | 1:5000 | 4.8 | 5.0 | $0 | MT5, cTrader, MT4, TradingView, Zulutrade | Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. | |
IG Markets South Africa Limited FSCA South Africa | 1:30 | 4.7 | 3.8 | $50 | MT4, ProRealTime, L2 Dealer, TradingView, IG Online Platform | 70% 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 | |
Pepperstone Markets Limited SCB Bahamas | 1:200 | 4.7 | 4.4 | $0 | MT5, cTrader, MT4, TradingView, Pepperstone WebTrader, Pepperstone Mobile App | 73–89% of retail investor accounts lose money when trading CFDs. | |
Exness ZA (PTY) Ltd FSCA South Africa | - | 4.6 | 4.6 | $10 | MT5, MT4, Exness Terminal | General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs. | |
FP Markets (Pty) Ltd FSCA South Africa | 1:500 | 4.6 | 4.1 | $0 | MT5, cTrader, IRESS, MT4, Mottai, TradingView | Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested. | |
Moneta Markets South Africa (Pty) Ltd FSCA South Africa | 1:500 | 4.6 | 4.5 | $50 | MT5, MT4, ProTrader, App Trader, Copytrader App | Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how Derivatives work and whether you can afford to take the high risk of losing your money. Trading derivatives is risky. It isn't suitable for everyone; you could lose substantially more than your initial investment. You don't own or have rights to the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't consider your personal objectives, financial circumstances, or needs. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. | |
Vantage Markets (Pty) Ltd FSCA South Africa | 1:1000 | 4.6 | 4.4 | $50 | MT4, MT5, TradingView, Vantage App, Vantage Web Trading | Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. | |
Ava Capital Markets Pty FSCA South Africa | 1:400 | 4.5 | 4.2 | $100 | AvaOptions, AvaSocial, MT5, Proprietary, MT4, DupliTrade, Ava Web Trader, AvaTrade App | Trading CFDs and FX Options entail risk and could result in the loss of your capital. | |
Capital Com Online Investments Ltd SCB Bahamas | 1:200 | 4.5 | 4.1 | $20 | MT4, TradingView, Capital.com Web Trader, Capital.com App, MT5 | Depending on the company, 70% of retail investor accounts lose money when trading CFDs with Capital.com Group. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
GAIN Global Markets Inc. CIMA Cayman Islands | 1:250 | 4.5 | 3.7 | - | MT4, WebTrader | 72.5% of retail investor accounts lose money when trading CFDs with this provider. | |
Gleneagle Securities Pty Limited VFSC Vanuatu | 1:500 | 4.5 | 4.4 | $0 | MT4, MT5, cTrader, TradingView, DupliTrade | All financial products involve risk and you should ensure you understand the risk involved as certain financial products may not be suitable for everyone. Trading in margin foreign exchange and derivatives carries a high level of risk and you may incur a loss that is far greater than the amount you invested. Past performance of any product described on this website is not a reliable indication of future performance. | |
Hantec (Seychelles) Services Limited FSA Seychelles | 1:1000 | 4.5 | 4.2 | $10 | MT4, MT5, Hantec Mobile, Hantec Web Trader | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
MEX Atlantic Corporation CIMA Cayman Islands | 1:1000 | 4.5 | 4.0 | $50 | MT5, MT4, MultiBank App | All forms of investment carry risk including an investor not recovering the amount invested. These services may not be suitable to all. | |
STARTRADER International PTY LTD FSCA South Africa | 1:500 | 4.5 | 4.5 | $50 | MT5, MT4, STARTRADER App | All investments entail risks and may result in both profits and losses. I | |
VT Markets (Pty) Ltd FSCA South Africa | 1:1000 | 4.5 | 4.5 | $100 | MT5, MT4, VT Markets app, TradingView | Trading CFDs carries a high level of risk and may not be suitable for all investors. Leverage in CFD trading can magnify gains and losses, potentially exceeding your original capital. It’s crucial to fully understand and acknowledge the associated risks before trading CFDs. Consider your financial situation, investment goals, and risk tolerance before making trading decisions. Past performance is not indicative of future results. Refer to our legal documents for a comprehensive understanding of CFD trading risks. | |
XTB International Limited IFSC Belize | 1:500 | 4.5 | 4.3 | $0 | xStation 5 | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. | |
BBG Limited FSA Seychelles | 1:500 | 4.4 | 4.2 | $0 | MT5, MT4, TradingView, cTrader, myFXbook, Zulutrade, BlackBull Trade | BlackBull Markets and its associated entities have access to provide over 26000 tradable instruments to clients across all our Trading Platforms. Black Bull Group Limited (trading name: BlackBull Markets) is a company registered and incorporated in New Zealand (Company Number 5463921, NZBN 9429041417799) located at Level 20, 188 Quay St Auckland 1010. Black Bull Group Limited is a registered Financial Services Provider (FSP403326). | |
FxPro Global Markets Ltd SCB Bahamas | 1:200 | 4.4 | 3.6 | $0 | MT5, cTrader, MT4, FxPro Trading Platform, FxPro Mobile App, TradingView | 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 money. (EU, UK) | |
Notesco (SA) Pty Ltd FSCA South Africa | 1:500 | 4.4 | 4.0 | $50 | MT4 | Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. | |
OANDA Global Markets Ltd. | 1:200 | 4.4 | 3.9 | $0 | MT5, MT4, OANDA Trade Web Platform | Your capital is at risk. Spreadbetting only available in UK. | |
Tickmill South Africa (Pty) Ltd FSCA South Africa | 1:1000 | 4.4 | 4.0 | $100 | MT5, MT4, Tickmill Trader | Trading Contracts for Difference (CFDs) on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade Contracts for Difference (CFDs), you should carefully consider your trading objectives, level of experience and risk appetite. It is possible for you to sustain losses that exceed your invested capital and therefore you should not deposit money that you cannot afford to lose. Please ensure you fully understand the risks and take appropriate care to manage your risk. | |
Trademax Global Limited VFSC Vanuatu | 1:1000 | 4.4 | 4.1 | $100 | MT4, MT5, TMGM Mobile App, HubX | 80.26% of retails CFD accounts lose money. | |
XM ZA (Pty) Ltd FSCA South Africa | 1:1000 | 4.4 | 3.1 | $5 | MT5, MT4, XM Web Platform, XM Mobile App | Forex and CFD trading involves significant risk to your invested capital. | |
ActivMarkets Ltd FSCM Mauritius | 1:1000 | 4.3 | 3.4 | $0 | MT5, MT4, ActivTrader, TradingView | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. | |
AT Global Markets SA (Pty) Ltd FSCA South Africa | 1:400 | 4.3 | 3.2 | $50 | MT4, MT5, ATFX Trading App | Trading Foreign Exchange (Forex) and Contracts for Differences (CFDs) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. | |
IUX ZA (Pty) Ltd FSCA South Africa | 1:3000 | 4.3 | 4.9 | $30 | MT5, IUX Web Trade, IUX App Trade | This website is not designed to encourage or promote trading activities. Please note that leveraged margin trading and binary options carry significant risks, including the potential for rapid financial losses. | |
Just Global Markets (PTY) Ltd FSCA South Africa | 1:3000 | 4.3 | 4.4 | $10 | MT5, MT4, JustMarkets App | Your capital is at risk. | |
Royal CM Limited VFSC Vanuatu | 1:1000 | 4.3 | 3.5 | $0 | MT4, MT5 | Your capital is at risk. | |
Plus500AU Pty Ltd FSCA South Africa | 1:30 | 4.3 | 3.3 | $100 | Plus500 Web Platform, Plus500 Mobile App | CFD Service, 81% 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 | |
PrimeXBT (Pty) Ltd FSCA South Africa | 1:400 | 4.3 | 3.8 | $0 | MT5, PrimeXBT Mobile App, PXTrader 2.0 | Crypto Futures and CFDs products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. | |
PU Prime (PTY) Ltd FSCA South Africa | 1:1000 | 4.3 | 3.6 | $20 | MT5, MT4, PU Prime App, PU Web Trader, PU Copy Trading | Trading Contracts for Difference (CFDs) involves a high level of risk and may not be suitable for all traders. | |
Swissquote South Africa (Pty) Ltd FSCA South Africa | 1:100 | 4.3 | 2.6 | $1000 | MT5, MT4, CFXD, TradingView | Investing in FX & CFD carries a high degree of risk. Losses can exceed your initial investments | |
Zenfinex Global LLC FSA Seychelles | 1:2000 | 4.3 | 3.4 | $9 | MT5, MT4, Taurex Trading App, Brokeree, Pelican | Trading in financial instruments carries a high level of risk and may not be suitable for all investors. The value of your investments may fluctuate and you may lose all of your invested capital, especially due to leverage. | |
YWO (PTY) Ltd FSCA South Africa | 1:1000 | 4.3 | 4.4 | $10 | MT5 | Trading our products involves margin trading and carries a high level of risk, including the potential loss of your entire capital. These products may not be suitable for all investors. You should fully understand the risks involved before trading. | |
DB Invest Limited FSA Seychelles | 1:1000 | 4.2 | 2.3 | $50 | MT5, DB Investing App | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
Elev8 Markets Ltd FSCM Mauritius | 1:2000 | 4.2 | 4.1 | $20 | MT5, MT4, Elev8Trader | Elev8's services relate to complex derivative products that are traded over the counter. Trading with leverage involves a high level of risk and may not be suitable for all investors. Investing carries risks, and individuals should carefully consider their investment objectives, level of experience, and risk tolerance before making any investment decisions. | |
Errante Securities (Seychelles) Ltd FSA Seychelles | 1:1000 | 4.2 | 3.6 | $50 | MT5, cTrader, MT4, TradingView, Errante App | FX and CFDs trading involves a high risk of loss | |
FPK Trading (PTY) Limited FSCA South Africa | 1:500 | 4.2 | 4.7 | - | MT4, MT5, cTrader | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. There is a possibility to lose all your initial capital. The legal documents should be considered before entering into transactions with us. | |
Central Clearing Ltd MISA Comoros | 1:1000 | 4.2 | 4.4 | $0 | MT4, MT5 | Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose all the initial capital invested. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. | |
Gleneagle Securities Pty Limited VFSC Vanuatu | 1:2000 | 4.2 | 4.0 | $50 | MT4, MT5, FXT WebTrader, FXTrading App | Any advice included in this website or correspondence is general advice only and is based solely on consideration of the investment or trading merits of the financial products alone, without taking into account the investment objectives, financial situation and particular needs (i.e. financial circumstances) of any particular person. Before making an investment or trading decision based on the advice, the recipient should carefully consider the appropriateness of advice in light of his or her financial circumstances and should carefully review the Product Disclosure Statement regarding the relevant financial product as provided by your investment broker. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring derivative products, you have no entitlement, right or obligation to the underlying financial asset. | |
Formula Investment House Ltd BVI FSC Virgin Islands, British | 1:400 | 4.2 | 2.7 | $100 | iFOREX Platform | Not investment advice; Capital at Risk; T&C apply. | |
Mitrade Markets Pty Ltd FSCA South Africa | 1:200 | 4.2 | 3.8 | $20 | Mitrade Trading Platform, Mitrade Mobile App | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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. | |
First Interstellar Global Ltd FSA Seychelles | 1:500 | 4.1 | 3.2 | $0 | MT4, MT5, FISG App | Forex and CFD trading involve a significant risk to your invested capital. Please read and ensure you fully understand our Risk Disclosure. Trading foreign exchange and leveraged financial products has high risks and may cause you to lose your principal. You should not take the risk of loss more than you can afford and please ensure that you fully understand the risks involved. Trading leveraged products is not suitable for all investors. Trading unleveraged products such as shares also involves risk as the value of shares can go down as well as up, meaning you may get back less money than you originally invested. Past performance is no guarantee of future results. Before trading, please consider your level of experience, investment objectives and seek independent financial advice if necessary. It is the customer’s responsibility to ensure that the legal requirements of his/her country of residence allow him/her to use the services provided by the Interstellar Financial Group Limited. | |
Exinity UK Ltd FSCA South Africa | 1:3000 | 4.1 | 3.1 | $100 | MT5, MT4, FXTM Trader App | Online Forex/CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading Online Forex/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. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of Exinity Capital East Africa Ltd based on the legal requirements in his/her country of residence. | |
JAROCEL PTY LTD FSCA South Africa | 1:500 | 4.1 | 3.5 | $1 | MT5, MT4, Headway App | Trading financial instruments with leverage carries a high risk to your capital. Headway Inc. does not offer its services to residents of countries that were, are, or will be blacklisted by the FATF. This website is not directed to the residents of countries where such financial services may violate the laws or regulations of the land. The information on this website is not aimed at solicitation or invitation. Anyone who accesses this website must therefore follow the laws and regulations applicable in their country of residence. | |
TIO Markets Ltd MISA Comoros | 1:1000 | 4.1 | 3.8 | $20 | MT4, MT5 | Trading on margin comes with a high risk of losing money rapidly due to leverage. You should consider whether you understand how margin trading works and whether you can afford to take the high risk of losing your money. Never deposit more than you are prepared to lose. | |
Alchemy International Ltd FSA Seychelles | 1:500 | 4.0 | 3.2 | $1000 | MT4, MT5, TradingView | All instruments offered by Alchemy Markets are traded as CFDs. We offer only commission-free trading on Forex, Indices, and Metals for Classic, Premier and Demo accounts. For more information on our charges on other account types and products including Crypto CFDs and Stock CFDs, you can visit our product pages and sheets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with us. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
AMarkets LTD MISA Comoros | 1:3000 | 4.0 | 2.4 | $100 | MT5, MT4, AMarkets App | Your capital is at risk | |
Doto South Africa (Pty) Ltd FSCA South Africa | 1:500 | 4.0 | 3.4 | $15 | MT4, MT5, Doto Platform | Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. | |
Trade Set Go Ltd FSA Seychelles | 1:400 | 4.0 | 4.5 | $96 | TSG Trade Web, TSG Trade Mobile App, MT5 | Trading in CFDs, involves a high level of risk. 77.95% of retail investor accounts lose money when trading CFDs with this provider. It is possible to lose all your invested capital. Such financial products may not be suitable or allowed for you, and you should consider such restrictions and whether you understand how CFDs work and all the risks involved. | |
4xCube Ltd FSC CA Cook Islands | 1:500 | 3.9 | 3.6 | $50 | MT5, MT4 | Online trading with margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. For clients who maintain account(s) with 4XC, retail clients could sustain a total loss of deposited funds but are not subject to subsequent payment obligations beyond the deposited funds and professional clients could sustain losses in excess of deposits. Prior to trading any products offered by 4XC, any affiliates of aforementioned firms, or other firms within 4XC of companies [collectively the “4xCube Ltd”], carefully consider your financial situation and experience level. 4xCube Ltd may provide general commentary which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. 4xCube Ltd assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. Read and understand the Terms and Conditions on 4xCube Ltd websites prior to taking further action. | |
MAIV Limited FSA Seychelles | 1:2000 | 3.9 | 3.5 | $50 | MT5, Rock-West App | CFDs are Leveraged Financial Instruments, and trading them carries a high level of risk. It is possible to lose all your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Past performance is not a reliable indicator of future performance. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs and/or any other financial instruments. Please read our full Risk Disclosure policy and the Client Agreement. | |
Evalanch Ltd FSA Seychelles | - | 3.9 | 3.9 | $10 | MT5 | “Contract for Differences” (CFDs) are usually leveraged products. Trading Over-The-Counter (OTC) CFDs related to commodities, Forex, Indices and Shares, carries a high level of risk and can result in the loss of all of your investment. As such, CFDs may not be appropriate and/ or suitable for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should be aware of all the risks associated with OTC CFDs trading, and seek advice from an independent and suitably licensed financial advisor. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. General information and/ or recommendations provided by the Company should not be interpreted as investment advice. For more information please visit our General Risk Disclosure Policy. Disclaimer: Information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. | |
Versus Trade Ltd FSCM Mauritius | 1:2000 | 3.8 | 4.3 | $10 | MT5 | It is hereby warned that engagement in the trade of CFDs and/or other services are accompanied by considerable risk and the potential loss of funds and under no circumstances shall Versus Trade be held liable for such. Access to this website is made with clear understanding of the risks. No element present on this website shall be interpreted as investment advice or invitation to engage in services. | |
DLS Markets Limited VFSC Vanuatu | - | 3.7 | 4.1 | $100 | MT5, MT4, DLSM GO App | Investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all traders. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlying assets. | |
Anzo Capital Limited (SVG) LLC | 1:1000 | 3.6 | 3.6 | $50 | MT4, MT5 | Investing in leveraged products carries significant risks and is not suitable for all investors. You could lose more than your deposits. | |
Equitex Capital Limited FSA Seychelles | 1:500 | 3.6 | 3.0 | $100 | MT5 | Over-the-counter derivatives are complex instruments and come with a high risk of losing your initial capital rapidly due to leverage. You should consider whether you understand how over-the-counter derivatives work and whether you can afford to take the high level of risk to your capital. Investing in over-the- counter derivatives carries significant risks and is not suitable for all investors. | |
TradeSmart Capital Limited | 1:2000 | 3.3 | 4.5 | $50 | MT5 | Trading Forex and CFDs carries a high level of risk to your capital, and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. | |
DuraMarkets Ltd MISA Comoros | 1:500 | 3.2 | 3.9 | $10 | MT5, MT4 | CFDs and margin trading carry a very high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any amount due from your end, in the course of trading. Hence, you should ensure that you’ve fully understood the risks involved and invest the amount that you are willing to lose. |
This guide covers brokers that accept clients from South Africa. For the full ranking across all countries, see our best forex brokers worldwide.
Best Forex Brokers in Other African Countries
Each guide ranks the brokers we tested that accept clients in that country, under its own regulation.
| Africa |
| Best Forex Brokers in Egypt | Best Forex Brokers in Kenya | Best Forex Brokers in Nigeria |
Not from South Africa? See the best forex brokers worldwide or all our country guides.
Where to Go Next
More of our best-broker guides, grouped by what you trade, the platform you use, how you trade and where you trade from.
All the Brokers We Tested
Update History
About the Authors
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Aviva is a Senior Content Editor at FXEmpire. Her substantial contributions include refining over 150 broker reviews and 'Best Brokers Guides,' enhancing our proprietary methodology, and ensuring every fact is meticulously verified.
As a Senior Content Editor at FXEmpire, Ola has edited and fact-checked more than 350 broker reviews and guides. She continually refines FXEmpire’s proprietary broker rating system and keeps a close eye on industry trends, making sure our reviews reflect the latest changes in the market.
- List of Top Forex Brokers in South Africa
- How Did FXEmpire Select the Best Forex Brokers in South Africa?
- Best Overall
- Best for Automated Trading
- Best Order Execution
- Best MT4
- Best Trading App
- Best Low Spreads
- Best for Beginners
- Best for Professional Traders
- Best Trading Platform
- Best Forex Brokers in Other African Countries
- Where to go next
- All the Brokers We Tested
- Update History