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.
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 international Brokers.
- 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.
Forex Trading 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 the FSCA establishment through Wikipedia.
- Before the 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 records to verify conditions, also we would also recommend following FSCA official Twitter to stay updated with recent news and warnings @FSCA_ZA
Best Forex Brokers in South Africa
To find and select Top 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.
- BDSwiss– Best Overall Broker in South Africa 2022
- BlackBull Markets – Lowest Spread Broker in South Africa 2022
- HFM – Best MT4 Broker in South Africa 2022
- FP Markets – Best Broker for Beginners in South Africa 2022
- Pepperstone – Best for Scalping and EA Trading Broker 2022
Who are South Africa Brokers?
Many well known international Brokers with good regulation operate entities in South Africa and available for almost all African region.
However, there are still many unregulated forex brokers that are in Fake forex brokers list South Africa. These brokers target local population mainly due to their lack of good knowledge about investments. 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.
What are best Forex Trading sessions in South Africa time?
South Africa Forex Brokers List
These are the regulated brokers that accept clients from South Africa:
| Broker | Detail | |
|---|---|---|
 Goldwell Capital
|
Min. Deposit: - Max. Leverage: 1:200 Trading Platforms: MT4 Regulation: SECC |
Goldwell Capital Review |
 Lirunex
|
Min. Deposit: 500 US$ Max. Leverage: 1:30 Trading Platforms: MT4 Regulation: CySEC |
Lirunex Review |
 Scandinavian Capital Markets
|
Min. Deposit: 10,000 US$ Max. Leverage: 1:30 | 1:100 Trading Platforms: Currenex, cTrader, MT4 Regulation: Swedish FSA |
Scandinavian Capital Markets Review |
 TIO Markets
|
Min. Deposit: 50 US$ Max. Leverage: 1:30 Trading Platforms: MT4, MT5 Regulation: FCA |
TIO Markets Review |
 JP Markets
|
Min. Deposit: - Max. Leverage: 1:200 Trading Platforms: MT4, JPM App Regulation: FSB |
JP Markets Review |
 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 |
 Global Prime
|
Min. Deposit: 200 US$ Max. Leverage: 1:400 Trading Platforms: MT4 Regulation: ASIC |
Global Prime Review |
 TeraFX
|
Min. Deposit: 100 US$ Max. Leverage: 1:30 Trading Platforms: MT4 Regulation: FCA |
TeraFX Review |
 CIX Markets
|
Min. Deposit: 500 US$ Max. Leverage: 1:30 Trading Platforms: CIX Trader, MT4 Regulation: FCA |
CIX Markets Review |
 House of Borse
|
Min. Deposit: 5,000 US$ Max. Leverage: 1:30 Trading Platforms: MT4, MT5 Regulation: FCA |
House of Borse Review |