The Top 8 South African Forex Brokers

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

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

Pepperstone
AvaTrade
Plus500
FXTM
FXCM
Our Rating
9.17
8.33
5.83
6
7.93
74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider
71% of retail investor accounts lose money when trading CFDs with this provider
77% of retail CFD accounts lose money
77% of retail investor accounts lose money when trading CFDs with this provider
66% of retail investor accounts lose money when trading CFDs with this provider

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
0.22
GBP/USD Avg. Raw Spread
0.59
-
-
0.5
0.80
AUD/USD Avg. Raw Spread
0.24
-
-
0.5
0.40
EUR/USD Standard Spread
0.75
0.90
-
1.9
-
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

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
Unique Feature
Smart Trader Tools
Choice of social trading tools
Trade cannabis index
Floating leverage
Large range of trading platforms

Overall