The Top 8 South African Forex Brokers

Here are the Dec 2022 best forex brokers in South Africa by FX trading category

  • AvaTrade AvaTrade - Lowest Fixed Spread Forex Broker
  • Pepperstone Pepperstone - Top Trading Spreads
  • fxtm logo FXTM - Highest Leverage (2000:1) SA FX Trading Account
  • Plus500 Plus500 - Top FSCA Regulated Forex Broker For Beginners
  • fxpro logo FxPro - Good Forex Broker With  ZAR Account
  • FXCM FXCM - Good No Commission Forex Broker Account
  • think markets logo ThinkMarkets - Best No Deposit FSB Trading Account

Pepperstone
AvaTrade
Plus500
FXTM
FXCM
Our Rating
9.33
8.33
5.83
6
7.93
Smart Trader Tools
Choice of social trading tools
Trade cannabis index
Floating leverage
Large range of trading platforms

Regulations and Licenses

Feature
Pepperstone
AvaTrade
Plus500
FXTM
FXCM
FSCA (South Africa)

Brokerage

Feature
Pepperstone
AvaTrade
Plus500
FXTM
FXCM
EUR/USD Avg. Raw Spread
0.17
0.3
-
0.3
0.22
GBP/USD Avg. Raw Spread
0.59
0.4
-
0.5
0.80
AUD/USD Avg. Raw Spread
0.24
0.5
-
0.5
0.40
EUR/USD Standard Spread
0.77
0.90
0.80
1.9
1.3
EUR/USD Fixed Spreads
0.90
-
-
Commissions (USD Base)
$3.50
-
-
$2.00
$3.00
Minimum Deposit
$0
$100
$100
$500
$300
Swap Free Account
No Inactivity Fees
Funding Methods
16+
7+
3+
13+
8+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
AvaTrade
Plus500
FXTM
FXCM
Currency Pairs
62+
55+
71+
63+
42+
Cryptocurrency CFDs*
12+
15+
15+
-
7+
Index CFDs
14+
33+
67+
11+
13+
Share CFDs
300+
625+
1816+
180+
15+
Commodities CFD
9+
30+
22+
7+
12+
Stockbroking
-
-
10+
Retail Max. Leverage (South Africa)
Major Pairs 30:1
Minor Pairs 20:1
-
-
Balance:
0-50k 400:1
50k+ 200:1
Pro. Max. Leverage (South Africa)
400:1
-
-
-

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.

Trading Platforms + Tools

Feature
Pepperstone
AvaTrade
Plus500
FXTM
FXCM
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account

Overall

Broker Official Site Our Rating Regulation EUR/USD Spread GBP/USD Spread AUD/USD Spread MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
Visit Broker > 9.33 SCG, ASIC
FCA, CySEC
0.17 0.59 0.24 85ms $0 62+ 12+ 30:1 500:1
Visit Broker > 8.33 AISC, FSCA
IIROC, ADGM
0.3 0.4 0.5 160ms $100 55+ 15+ 30:1 400:1
Visit Broker > 5.83 ASIC, CySEC
FCA, FMA
- - - 140ms $100 71+ 15+ 30:1 300:1
Visit Broker > 6 FCA, FSCA
FSC
0.3 0.5 0.5 160ms $500 63+ - 30:1 300:1
Visit Broker > 7.93 ASIC, FSCA
FCA, IIROC
0.22 0.80 0.40 150ms $300 42+ 7+ 30:1 500:1