Best Forex Brokers In South Africa 2020

Top 8 South African Forex Brokers

The June 2020 best forex brokers in South Africa were based on trading categories.

  • Pepperstone – Best South African Forex Broker
  • ForexTime – FXTM Offers The Top Leverage In SA
  • Plus500 – Good FSCA Regulated CFD Broker For Beginners
  • AvaTrade – Best Fixed Spread Currency Trading Account
  • HotForex – Good Forex Broker With  ZAR Account
  • FXCM – Good No Commission Forex Broker Account
  • FxPro – Top cTrader Forex Broker in South Africa
  • ThinkMarkets – Best No Deposit FSCA Forex Account

Broker Reviewed

Pepperstone
FXTM
ThinkMarkets
IG
Plus500
Our Rating
9.17
6
7.67
6.67
5.83
Best MT4 Execution Speeds
High leverage
73.72% of retail investor accounts lose money when trading CFDs
76% of retail investor accounts lose money when
trading spread bets and CFDs with this provider
80.5% of retail CFD accounts lose money

Regulations and Licenses

Feature
Pepperstone
FXTM
ThinkMarkets
IG
Plus500
ASIC (Australia)
FCA (UK)
FSCA (South Africa)
Pending

Brokerage

Feature
Pepperstone
FXTM
ThinkMarkets
IG
Plus500
EUR/USD Avg. Raw Spread
0.13
0.4 (ECN)
0.1
0.17
GBP/USD Avg. Raw Spread
0.51
0.7
0.6
EUR/USD Standard Spread
1.13
1.3 (Standard)
1.2
0.7
0.6
Commissions (USD Base)
AUD/USD$3.50
USD$2.00
£2.5
Commission Rebates
Minimum Deposit
AUD/USD $200
USD$500
£0
$450
100
Has Islamic Account
No Inactivity Fees
Funding Methods
16
13
6
4
3
No Funding Fees

Markets and Instruments

Feature
Pepperstone
FXTM
ThinkMarkets
IG
Plus500
Currency Pairs
66+
59+
38+
80+
60+
Cryptocurrency CFDs
4+
4+
5+
5+
10+
Index CFDs
2+
11+
21+
34+
67+
Share CFDs
5+
180+
1200+
12000+
1816+
Commodities CFD
4+
3+
10+
38+
17+
Professional Leverage
500:1 (FCA)
500:1
200:1
300:1

Trading Platforms + Tools

Feature
Pepperstone
FXTM
ThinkMarkets
IG
Plus500
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automated Trading
Unique Feature 1
Smart Trader Tools
Floating leverage
Guaranteed Negative Protection
Guaranteed stop loss orders
Trade cannabis index
Unique Feature 2
Fast Execution Speed
Range of account types
Uptime record of 99.99%
Range of platforms
Guaranteed stop-loss

Overall