Top Forex Brokers For South African Traders

Below shows the South African brokers who are FSB licenced (or pending) and offer superior value:

  • Pepperstone Pepperstone - Best MetaTrader Forex Broker
  • fxpro logo FxPro - Best Automated Forex Trading Platform
  • fxtm logo FXTM - Best Social Trading Platform
  • IG IG - Largest Retail Foreign Exchange Brokers
  • Plus500 Plus500 - Best Forex Trading For Beginners
  • FXCM FXCM - Best Fundamental And Technical Analysis
  • hotforex logo Hot Forex - Highest Forex Trading Leverage Broker
  • markets.com logo Markets.com - Overall Best Forex Broker For South African Traders

The FSCA (Financial Services Conduct Authority of South Africa) regulates South African Forex brokers providing services to retail traders and ensures the integrity of the financial markets in South Africa. South African residents can benefit from extra protection, quick access to funds, and a fair trading environment.

View the top forex brokers in South Africa that operate in South Africa below.

Pepperstone
IC Markets
FP Markets
AvaTrade
IG
Our Rating
9.33
8.50
8
8.33
6.67
74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider
77% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd
The vast majority of retail investor accounts lose money when trading CFDs.
71% of retail investor accounts lose money when trading CFDs with this provider
71% of retail investor accounts lose money when
trading spread bets and CFDs with this provider

Regulations and Licenses

Feature
Pepperstone
IC Markets
FP Markets
AvaTrade
IG
ASIC (Australia)
FCA (UK)
MAS (Singapore)
NFA or CFTC (USA)
FSCA (South Africa)
FINMA (Switzerland)
CYSEC (Cypus)
IIROC (Canada)
FMA (New Zealand)
DFSA (Dubai)
BaFin (Germany)
ADGM (Abu Dhabi)
CBI (Ireland)
FSC BVI (British Virgin Islands)
SCB (Bahamas)
BMA (Bermuda)

Brokerage

Feature
Pepperstone
IC Markets
FP Markets
AvaTrade
IG
EUR/USD Avg. Raw Spread
0.17
0.02
0.20
0.3
0.17
GBP/USD Avg. Raw Spread
0.59
0.23
0.40
0.4
0.59
AUD/USD Avg. Raw Spread
0.24
0.17
0.30
0.5
0.3
EUR/USD Standard Spread
0.75
0.62
1.30
0.90
0.86
EUR/USD Fixed Spreads
-
0.90
Commissions (USD Base)
$3.50
$3.50
$3.00
-
-
Minimum Deposit
$0
$0
$100
$100
$450
Swap Free Account
No Inactivity Fees
Funding Methods
16+
15+
10+
7+
4+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
IC Markets
FP Markets
AvaTrade
IG
Currency Pairs
62+
61+
63+
55+
100+
Cryptocurrency CFDs*
12+
18+
4+
15+
12+
Index CFDs
14+
16+
14+
33+
34+
Share CFDs
300+
100+
12,986+
625+
12000+
Commodities CFD
9+
26+
7+
30+
35+
Stockbroking
-
Retail Max Leverage (Australia)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max Leverage (Australia)
500:1
500:1
500:1
400:1
Pro 1: 100:1
Pro 2: 250:1
Retail Max. Leverage (The United Kingdom)
Major Pairs 30:1
Minor Pairs 20:1
-
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max. Leverage (The United Kingdom)
500:1
-
500:1
400:1
222:1
Retail Max. Leverage (Europe)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max. Leverage (Europe)
500:1
500:1
500:1
400:1
222:1
Retail Max. Leverage (UAE)
Major Pairs 30:1
Minor Pairs 20:1
-
-
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 10:1
Pro. Max. Leverage (UAE)
500:1
-
-
400:1
222:1
Retail Max. Leverage (USA)
-
-
-
-
Major Pairs 50:1
Minor Pairs 20:1
Retail Max. Leverage (Canada)
-
-
-
Major Pairs 33:1
Minor Pairs 17:1
-
Retail Max. Leverage (Singapore)
-
-
-
-
Major Pairs 20:1
Minor Pairs 20:1
Pro. Max. Leverage (Singapore)
-
-
-
-
50:1
Pro. Max. Leverage (Kenya)
-
-
-
-
-
Retail Max. Leverage (South Africa)
-
-
-
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max. Leverage (South Africa)
-
-
-
400:1
222:1
Retail Max. Leverage (With offshore regulators)
200:1
500:1
500:1
400:1
200:1
Pro. Max. Leverage (With offshore regulators)
-
-
-
-
-
Professional Leverage
-
-
500:1
400:1
200:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
Pepperstone
IC Markets
FP Markets
AvaTrade
IG
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
ECN pricing
Fastest Limit Order Execution Speed
Choice of social trading tools
Guaranteed stop loss orders

Overall