Looking for ZAR Accounts Forex Brokers? Not sure who is truly regulated and legit Forex broker with ZAR Account as base currency? Or looking which broker is suitable and best for you?
We provide answers to all the questions in this article. We researched and compared over 30 Forex brokers offering ZAR Forex trading account and check their regulation status, spread & commission, the time for deposit & withdrawal and many more findings.
Who are Brokers with ZAR Account
Brokers with Forex ZAR Account offering to denominate trading account in South Africa Rand or ZAR currency, which makes deposit and withdrawal process more smooth since you avoid conversion fees.
South African Forex market has grown dramatically in recent years. There are many well-known and rounded Forex Brokers now operating fully regulated and legal entities in South Africa usually regulated by the local authority FSCA. Most of the regulated brokers operating in South Africa offer ZAR Trading Accounts but not all of them.
Best ZAR Accounts Forex brokers
To select the Best ZAR Accounts Forex Broker we research and compare only Regulated and trusted Forex Brokers that offer ZAR Account, we review details of license, spread and commission, trading platform, deposits and withdrawals conditions, education and customer service. Here is our List of Top ZAR Account Forex Brokers by category:
- XM – Lowest deposit requirement ZAR Account Forex Brokers
- HotForex – Best ZAR Account for Swap-free trading
- IC Markets – Best Platforms Forex Broker with ZAR Account
- Pepperstone – Best Research ZAR Account Forex Brokers
What makes a good Broker with ZAR Account?
You should check 4 points that makes broker a good Forex Broker with ZAR Account besides to account currency Rant. You should see whether the broker is suitable for your trading need, also check license, trading conditions and account offering, available markets and platforms, and customer service.
- Must be licensed by the FSCA in South Africa for traders funds safety
- Offer various account base currencies including ZAR or South Africa Rand for easy deposits and withdrawals
- Provide good range of trading instruments and spreads for low cost trading also on platform you prefer to use
- Has good customer service to solve traders enquiries professionally
Top Forex brokers with ZAR Accounts List & Review
Here we made a list of Best ZAR Accounts Forex Brokers based and regulated in South Africa or regulated brokers that offer ZAR Accounts. In addition to the top 4 ZAR Brokers mentioned above here is List of ZAR Accounts Forex Broker Reviews:
|Forex Broker||ZAR Account||Why they are our top picks||Our Review|
|XM||Yes||XM is the best for low deposit requirement with great instrument range and Rand as account currency. XM minimum deposit in ZAR standard account is 5$ (most broker offer 100$) and access over 1000 instruments.||Visit XM site |
|HotForex||Yes||HotForex is good for Islamic and Swap-free trading, and ZAR as account currency. The trading conditions are good, you can get Deposit Bonus (is unique by regulated brokers now) and advanced education services.||Visit HotForex site|
|Pepperstone||Yes||Pepperstone might be the best for research tools. Pepperstone uses ECN connection and offers various platforms plus range of tools like Smart Trader, AutoChartist and VPS. Besides Pepperstone is one of trusted Australian Forex Brokers with entity in South Africa.||Visit Pepperstone site|
|IC Markets||Yes||IC Markets might be your good for platform selection with ZAr Account. IC Markets providing MT4, MT5 and cTrader also you get extra tools like Correlation Matrix, Chart Trading, PAMM and MAM accounts.||Visit IC Markets site |
IC Markets Review
|AvaTrade||Yes||AvaTrade might be one of lowest spread Brokers. AvaTrade ZAR Account offers choice between various platforms and numerous currency pairs, costs are good 0.9 pips for EURUSD lower than industry average of 1.2 pips||Visit AvaTrade site|
|Exness||Yes||Exness might be the best for MT4 platform on Exness ZAR account. Exness offers both versions MT4 and MT5 plus extra tools that enhance trading including various calculators, conversion tools, etc.||Visit Exness site|
|FXTM||Yes||FXTM might be the best fit if looking for an ECN account with ZAR. FXTM is among 9 brokers with ECN accounts and offers 3 ECN accounts – ECN account, ECN Zero account & ECN Pro account, most offering spreads from 0 pips and commission charge depending on the account type.||Visit FXTM site|
More on ZAR Account Forex Brokers
To get started with Brokers offering ZAR Account it is better to navigate categories and narrow your selection with the broker offering suitable for your trading need. You can compare Forex Broker Reviews, also check Best Forex Brokers in South Africa.
Forex Brokers with Bonus
Bonuses and rewards offered by South Africa Regulated brokers do not propose 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.
Best Forex Brokers for Beginners with ZAR Account
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 customers 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
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.