Best Forex Brokers In South Africa 2020

Top 8 Forex Brokers For South African Traders

The April 2020 best forex brokers in South Africa are:

  • Pepperstone – Best South African MetaTrader 4 Broker
  • ForexTime – FXTM Is The Top MetaTrader 5 Broker
  • Plus500 – Best Forex Broker For Beginner Traders
  • AvaTrade – Lowest Fixed Spread Forex Trading Account
  • IG – Lowest Non-Commission Forex Trading Spreads
  • HotForex – Best Forex Broker With ZAR Account
  • FXCM – Good No Commission Forex Broker Account
  • FxPro – Best Forex Broker Offering cTrader
  • ThinkMarkets – Top No Deposit 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
Widest Instrument Range
Ideal For Beginners

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
$0
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 and share CFDs
Unique Feature 2
Fast Execution Speed
Range of account types
Uptime record of 99.99%
Range of platforms
Guaranteed stop loss trading option

Overall