Forex Brokers in South Africa

Recently, South Africa showing a significant increase in trading activity that happened for several reasons besides that South Africa as a very developed country’s economic system constantly shows its growth and is among the most progressive in the region.

Who are South Africa Brokers?

While the financial markets are still in the development stage in South Africa, the sector is very liberated and shows great potential that increases its demand through more and more international Brokers that engage to South Africa trading operations.

  • Many of Forex Brokers from South Africa are eventually some of the world-known Brokers that were attracted by the relatively easy limitations and the destination’s promising opportunities.

However, there are still many brokerage houses and firms that operate without any registration and operational oversight in South Africa, that target the local population mainly based on a lack of good knowledge. Thus you should be extremely careful while choosing the South African broker to trade with and follow strict criteria based on the legit status of the Brokers as first.

Regulations in South Africa

The good news and obvious benefits of South Africa is that Forex is regulated with greater protection against malicious companies due to its laws and regulations applied. Particularly through an established national regulator FSCA that also brings a legal and safe way to operate brokerage. Moreover, we would mention that regulation took a quite serious and well-organized path in South Africa, following the successor to the previously known FSB.

The abovementioned tasks are now performed by the FSCA – Financial Sector Conduct Authority, Website: www.fsca.co.za Where FSCA is in charge of the licensing of financial companies’ and trading Brokers, and monitor developments to comply with the relevant legislation and customers’ protection rights.

FSCA was formed in 2018 and for now is among leading world authorities with sharp international standards, overseeing and control over the proposals. Read more about FSCA establishment through Wikipedia.

In simple words, before its launch and legit status in South Africa, every brokerage firm should obtain an FSCA license that guarantees a balanced framework and safe trading environment governed by the FSCA.

You can check broker details through an official website and see company record to verify conditions, also we would also recommend following FSCA official Twitter to stay updated with recent news and warnings @FSCA_ZA

South Africa FSCA website

Best Forex Brokers South Africa

To find and select Best Forex Brokers you should define your own need, along with the strategy, level of experience and conditions that may be offered by the broker.

The important note about regulation is already covered here are we create a list solely based in South Africa Regulated Forex Brokers, where below you can see listing created according to the specified criteria and its High Scores.

  • FXTM– Best Overall Broker in South Africa 2020
  • IG – Lowest Spread Broker in South Africa 2020
  • HotForex– Best MT4 Broker in South Africa 2020
  • FP Markets – Best Broker for Beginners in South Africa 2020
  • XM– Best for Scalping and EA Trading Broker 2020

South Africa Forex Brokers List

These are the regulated brokers that accept clients from South Africa:

Broker Detail
ForexTime FXTM review FXTM
Min. Deposit: US$200
Max. Leverage: 1:30 | 1:200
Trading Platforms: MT4, MT5, FTXM Trader
Regulation: CySEC,FCA, FSCA
1
FXTM Review
GO Markets
Min. Deposit: 200 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, WebTrader
Regulation: ASIC, CySEC
2
GO Markets Review
FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: IRESS, MT4, MT5
Regulation: ASIC, CySEC
3
FP Markets Review
Pepperstone review Pepperstone
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, MT5, cTrader
Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN
4
Pepperstone Review
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader and Mobile App
Regulation: ESMA, CySEC, FSC, NFA, FSA
5
BDSwiss Review
Axiory logo Axiory
Min. Deposit: 50 US$
Max. Leverage: 1:777
Trading Platforms: MT4, cTrader
Regulation: IFSC
Axiory Review
HotForex Review HotForex
Min. Deposit: 5 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: CySEC, FCA, DFSA, FSCA
HotForex Review
BlackBull Markets logo BlackBull Markets
Min. Deposit: 200 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: FMA, FSA
BlackBull Markets Review
EightCap review EightCap
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: ASIC
EightCap Review
GT.IO logo GT.IO
Min. Deposit: 5 US$
Max. Leverage: 1:500
Trading Platforms: MT5, WebTrader
Regulation: FSCA, SFSA
GT.IO Review