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
alpari review Alpari
Min. Deposit: 20 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: SVG FSC, IFSC
Alpari Review
OctaFX
Min. Deposit: 100 EUR
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT5, cTrader
Regulation: CySEC
OctaFX Review
Plus500 Broker review Plus500 – CFD Service
Min. Deposit: 100 US$
Max. Leverage: 1:30 - EU/UK/ 1:300 - AU
Trading Platforms: Plus500 Platform
Regulation: FCA, CySEC, ASIC, MAS
Plus500 – CFD Service Review
avatrade review AvaTrade
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:400
Trading Platforms: MT4, AvatradeGo
Regulation: Bank of Ireland, ASIC, JFSA, FSCA
AvaTrade Review
JP Markets logo JP Markets
Min. Deposit: -
Max. Leverage: 1:200
Trading Platforms: MT4, JPM App
Regulation: FSB
JP Markets Review
Velocity Trade logo Velocity Trade
Min. Deposit: -
Max. Leverage: 1:30 | 1:200 | 1:400
Trading Platforms: MT4, PFSOFT
Regulation: ASIC, FCA, IIROC, FSB, FMA
Velocity Trade Review
Markets.com Broker review Markets.com
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:400
Trading Platforms: Markets.com Web, MarketsX, Marketsi, MT5
Regulation: CySEC, ASIC, FSCA
Markets.com Review
IG Markets review IG
Min. Deposit: GBP 250
Max. Leverage: 1:30
Trading Platforms: MT4, IG Proprietary
Regulation: FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC
IG Review
Saxo Bank broker review Saxo Bank
Min. Deposit: 10,000 US$
Max. Leverage: 1:30 | 1:100
Trading Platforms: SaxoTraderGo, SaxoTraderPRO
Regulation: Danish FSA, ASIC, JFSA, MAS, FCA, FSC
Saxo Bank Review
former ThinkForex review ThinkMarkets
Min. Deposit: 0 US$
Max. Leverage: 1:400
Trading Platforms: MT4, MT5, ThinkTrader
Regulation: ASIC, FCA, FSCA
ThinkMarkets Review