Looking for Forex Brokers South Africa? Not sure which South Africa broker is suitable and best for you? Or want to verify if the broker is truly regulated and legit in the South Africa regulated by FSCA?

We provide answers to all the questions in this article. We researched and compared over 40 South Africa brokers including their regulation status, spread & commission, the time for deposit & withdrawal and many more findings.

FSCA (formerly FSB) Regulated Forex Brokers in South Africa

Forex Brokers in South Africa should be registered and obtain license from FSCA Financial Sector Conduct Authority, a financial regulatory body in South Africa.

It is not a mandatory rule for every Forex Broker that established a branch in South Africa to obtain FSCA license, brokers that provide proof of good standing and serious regulation can accept South Africa clients. FSCA regulation on Wikipedia.

South Africa residents should verify broker details on the official Website: www.fsca.co.za  and recommended to follow the FSCA Twitter account for recent updates @FSCA_ZA

Best Forex Brokers South Africa - FSCA Regulation website
Best Forex Brokers South Africa – FSCA Regulation website

Best Forex Brokers in South Africa

To select the best Forex Broker in South Africa we research and compare Forex Brokers with FSCA license and reputable regulated brokers that accept South Africa traders. We review details of spread and commission, trading platform, deposits and withdrawals conditions, education and customer service. Here is our List of Top Forex Brokers Review in South Africa:

  • FP Markets – Top ranked Broker in South Arica
  • FXTM – Best Broker for Beginners in South Africa
  • XM – Best MT4 Broker South Africa
  • IG – Lowest Spread Broker South Africa
  • FXCM – Best for Platform selection in South Africa

What makes a good forex broker in South Africa?

There are four important points that makes a good Forex Broker, including license and good reputation, favorable trading conditions, education and research, and customer service.

  • Must be licensed by the South Africa authority FSCA or additional reputable license
  • Propose good trading conditions like low spreads, selection of platform and expansion to instruments
  • Offer quality education content like Webinars, trading videos and/ or research tools
  • Support Customers with a professional team that is easy to reach

Top 8 South Africa Forex brokers List & Review

We narrowed the list and selected best in its category regulated brokers that are safe in South Africa regulated by FSCA or other Regulated Brokers that offer ZAR accounts and accept South Africa traders, and are Best brokers for Forex trading with competitive trading conditions:

Forex BrokerAccepts clients from KenyaFSCA RegulatedWhy they are our top picksOur Review
FXTMYesYesFXTM is good for beginners. FXTM has professional education section, running Seminars and Webinars, offering deposit bonus and good spreads, also FXTM is among 9 brokers with ECN accounts.Visit FXTM site

FXTM Review
FP MarketsYesNoFP Markets might be one of the best overall brokers. FP Markets providing comprehensive online trading courses, education and supporting good platforms like cTrader or MT4 provided with extra tools.Visit FP Markets site

  FP Markets Review
FXCMYesYesFXCM can be the best for Day traders and MT4 traders. FXCM is one of the oldest UK brokers also providing great range of platforms including Trading Station, and social trading platforms.Visit FXCM site  

  FXCM Review
Plus500YesYesPlus500 might be the best for CFDs trading and easy trading app. It has great range of instruments and Cryptocurrencies traded on CFD basis and customer-friendly trading software.Visit Plus500 site

Plus500 review
IGYesYesIG is god if you look for a low spread broker. IG EUR/USD avg spread at 0.8 which is lower compared to other brokers with 1.1Visit IG site  

IG Review
eToroYesNoeToro is one of the best for Social Trading. You can choose from thousands (not hundreds – thousands) top traders and copy trades on easy to use platform.Visit eToro site

eToro review
XMYesYesXM is the best for easy start and MT4 platform traders. XM offers to start trading with only 5$, also get a deposit bonus and providing good range of tools plus excellent support.Visit XM site  
   
XM Review
TickmillYesYesTickmill might be the best fit for professional traders or VIP account trading. With NDD execution, spreads are from 0.0 pips and just 1 EUR commission per side, plus to powerful platform and tools.Visit Tickmill site

Tickmill review

More on South Africa Brokers

If you don’t know from where to start and here we answer many common questions, also navigate categories and select broker that offer your trading need.

Forex Brokers South Africa with Bonus

Bonuses and rewards offered by South Africa Regulated brokers are not offering high rewards and typically giving 10% like Tickmill offers, or up to 100$ rewards like we found in FBS offering. Much larger bonuses you can get only via unregulated brokers that are targeting clients, but we recommend to avoid unregulated brokers due to lack of safety measures.

Forex Broker with ZAR accounts

Most of South Africa regulated brokers offering base account currency ZAR, including Plus500 or Tickmill meaning you avoid conversion fees for deposits or withdrawals.

Best Forex Brokers for Beginners in South Africa

Beginners should start with good education and select strictly among regulated brokers to ensure transparency and safety. It is recommended to pass trading course, the suitable brokers for beginners will offer deep education and research tools, check FP Markets or IG broker education sections.  

Forex Brokers with No Deposit Bonus

No Deposit Bonus is offered just by a few brokers like FXTM, which you can get upon account opening and trade real cash with no deposits from your side.

High Leverage Forex Brokers in South Africa

Great news for South African residents and traders, Forex Brokers South Africa still offer high leverage ratios like 1:200 that are allowed by regulations and attracting many worldwide customer for this reason too. FXCM offers 1:400 for Forex and 1:200 for CFDs.

Author of this review

By Jimmy O'Brien

Author of this review

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

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