Forex Brokers in South Africa
Financial Sector Conduct Authority (FSCA) have been supervised forex brokers in South Africa since 2018. In spite of being the most evolved countries in Africa, there are still many unregulated forex brokers in this region.
South Africa has become a dynamic forex broker network, with exponentially growing forex markets and traders. Since the loose limitation from FSCA, forex industries in South Africa has various trading conditions and leverage rules.
| Broker | Regulation | Max Leverage | Min Deposit | General Rating | |
|---|---|---|---|---|---|
| IG Australia 1974 | CFTC/NFA 0509630 FCA (UK), 195355 | 1:50 | $1 | Review | |
| AvaTrade Australia 2006 |
ASIC, 406668 Central Bank of Ireland C53877 Financial Futures Association (Japan), 1574 Financial Services Regulatory Authority (Abu Dhabi), 190018 FSA (Japan), 1662 FSC (BVI), 2013-07-30 FSCA (South Africa), 45984 IS | 1:400 | $100 | Review | |
| ThinkMarkets Australia 2010 |
ASIC, 424700 FCA (UK), 629628 FSA (Japan) 01.03.2022 FSCA (South Africa), FSP No 49835 | 1:500 | $1 | Review | |
| Plus500 Australia 2008 |
ASIC, 417727 CySEC, 250/14 FCA (UK) 509909 FSA (Estonia), 16128206 FSCA (South Africa), 47546 ISA (Israel), 5 Monetary Authority of Singapore, 2017-12-11 | 1:300 | $100 | Review | |
| IronFX Australia 2010 |
ASIC, 417482 CySEC, 125/10 FCA (UK), 585561 FSCA (South Africa), 45276 | 1:30 | $100 | Review | |
| FXTM Belize 2011 | CySEC 185/12 FCA (UK), 777911 FSC (Mauritius), C113012295 FSCA (South Africa), 46614 | 1:2000 | $10 | Review | |
| Grand Capital Armenia 2006 | FFMS 1204 The Financial Commission, 15.01.2016 | 1:500 | $10 | Review | |
| GKFX Chile 2009 |
ASIC, 424122 BaFin 130602 CONSOB (Italy), 2915 Czech National Bank, 256/2004 DMCC (Dubai), 32142 FCA (UK), 501320 Finansinspektionen (Sweden), 556873-1326 FINRA, 16.06.2021 SFC (Hong Kong), AZJ874 ESMA | 1:30 | $200 | Review | |
| FXCM Australia 1999 | ASIC 309763 CONSOB (Italy), 76 CySEC, 392/20 DMCC (Dubai), 31171 FCA (UK), 217689 ISA (Israel), 2 SFC (Hong Kong), AIM232 ESMA | 1:400 | $1 | Review | |
| Velocity Trade New Zealand 1999 | AFM (Netherlands) 29.05.2020 ASIC, 329813 FCA (UK), 497263 Financial Dispute Resolution (NZ), FM0279 FMA (New Zealand), FSP20003 FSCA (South Africa), 43295 ESMA | 1:200 | $1000 | Review | |
| CM Trading Cyprus 2011 |
FSA (Seychelles), SD070 FSCA (South Africa), 38782 | 1:200 | $250 | Review | |
| Tradeo Cyprus 2012 |
CySEC, 282/15 FSCA (South Africa) 46452 | 1:30 | $250 | Review | |
| Capital Index Australia 2014 |
FCA (UK), 709693 Securities Commission of The Bahamas SIA-F199 | 1:200 | $100 | Review |
If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.
FAQ
What is the best forex broker in South Africa?
Finding the best forex broker in South Africa is not much different from choosing the right broker in general. Aside from making sure that the forex broker is available for client registration from South Africa, you need to check its regulation, minimum deposit, spread, leverage, payment methods, and other trading-related aspects that may affect your strategy. Furthermore, make sure that the broker has a good credibility and reliable customer support.
Where can I trade forex in South Africa?
The list in this page can be a good reference if you look to trade with in South Africa. We have sorted specific forex brokers that accept clients from South Africa, so you can choose one of the brokers by comparing their minimum deposit, regulation, leverage, and rating. If you are interested to learn further about a certain broker, feel free to click the review button.
What is the best forex broker for beginners?
If you are a beginner and looking for the right broker to trade with in South Africa, some aspects that you need to pay attention to are the low minimum deposit, demo account, and educational features. Apart from that, it's also better to make sure that the broker has good customer service because as a beginner, you may need to consult about broker services that still seem incomprehensible to you.
