FSB Regulated Forex Brokers In South Africa 2022

The MetaTrader Forex Broker Is Pepperstone

Pepperstone is a top forex broker founded and based in Melbourne, Australia, but offering its financial services around the world, including to South African traders. Pepperstone is a well-regulated forex broker being governed by strict regulatory agencies including:

• Australian Securities and Investments Commission (ASIC)
• The Financial Conduct Authority (FCA)
• As well as in Dubai (DFSA), Kenya (CMA), Germany (BaFin), Europe (CySEC) and the Bahamas (SCB).

Pepperstone Group Limited is regulated by the Australian Securities and Investments Commission (ASIC) (AFSL No.414530). And Pepperstone Limited has FCA registration number FRN 684312. In South Africa, Pepperstone Group Limited has FSP Nr. 49497.

Regulated brokers have the advantage of giving African traders a higher level of protection. Additionally, international forex brokers like Pepperstone play by the rules imposed by some of the most prestigious regulatory bodies.

Our team of experts at Compare Forex Brokers always puts a higher value on the regulation factor. The domestic regulatory body in South Africa, FSCA allows South African traders to trade with non-FSCA regulated brokers. Actually, it’s safe to say that the regulatory authorities from the developed countries like the UK, EU, US, and Australia offer higher industry standards and overall better protection against:

• Different irregularities
• Scams
• Unprofessional behaviour
• Financial misconduct
• Rogue forex brokers
• Higher compensation scheme

All forex brokers regulated by the formerly known as the Financial Services Board (FSB) agency are publicly listed on the FSCA website. To check the Pepperstone FSP Application status with the FSCA, simply go to their website. You can also view our best South Africa broker section for more details.

In our review process, we investigated all the key elements that ensure an environment that is suitable for making a profit in the foreign exchange market, including:

• Range of trading platforms
• Order execution speed
• Level of security
• Spread and commissions
• Range of markets
• Account Types
• Customer service
• Deposit and withdrawal methods

Over 57,000 traders worldwide are trusting Pepperstone with their money. Pepperstone customers can enjoy the following advantages:

• Access to 3 powerful platforms (MT4, M5, and cTrader)
• Lightning-fast execution in less than 30ms
• Powerful technical analysis tools (Smart Trader Tools and Autochartist)
• Low commissions ($3.5 per side)
• CFD Range of Markets (+150 financial instruments)
• Award-winning customer service
• Active Trader Account
• Variety of deposit and withdrawal methods (total of 9 methods)

Pepperstone is a multi-regulated forex broker with MetaTrader 4, MetaTrader 5 and cTrader available. Spreads are tight and you gain access to a great range of trading tools.

View Pepperstone Review >>Visit Pepperstone >>

FxPro – Best Automated Forex Trading Platform

FxPro is a global broker that is governed by a large number (33 entities) of tier-one regulatory agencies worldwide. The regulation that comes with a FxPro account is beneficial to all South African traders, which can enjoy protection from the local regulatory body FSCA, as well as from more prestigious regulatory entities, including:

• Financial Conduct Authority FCA (Registration no. 509956)
• Cyprus Securities and Exchange Commission CySEC (Licence no. 078/07)
• Dubai Financial Services Authority DFSA (Reference no. F003333)
• Securities Commission of the Bahamas SCB (Licence no. SIA-F184)
• Financial Sector Conduct Authority FSCA (Authorisation no. 45052)

FxPro is our second choice for the best South Africa forex brokers’ awards due to its cutting-edge solution for automated trading. Our team of industry experts has compared multiple FX brokers to see which one offers the most advanced technological solution. Only Pepperstone came closer to the same integrated algorithmic trading solution offered by FxPro.

FxPro Automated Trading Platforms Solution

South African forex brokers that offer a solution for algorithmic traders need to come with the right platforms that are suitable for automated trading. FxPro customers can enjoy coding their automated trading system through award-winning platforms, including:

• FxPro MetaTrader 4
• FxPro MetaTrader 5
• FxPro cTrader
• FxPro Edge

FxPro automated forex platforms have industry recognition and awards from the International Finance Magazine Award, and other prestigious financial entities. FxPro trading platforms allow African traders to program their trading strategies using:

• Expert Advisors (EAs) developed in MetaQuotes Language 4 (MQL4) language
• cAlgos integrated with cTrader. The base language to create cBots is C#

FxPro customers are offered a multi-currency deposit solution, including Rand deposits. The ZAR forex accounts need to be funded with a minimum deposit of Rand 7,000.

Our team of industry experts concluded that the automation features offered by FxPro allow SA traders to build sophisticated automated trading strategies. FxPro is equipped with all the right automated tools supporting a wide-range of algo capabilities, including:

• Built-in Optimization
• Backtesting
• Simulation
• API
• Debugging
• Executing multi-asset trading strategies
• Popular programming languages
• Historical price data

Nearly every forex broker has a free demo account, and FxPro is no different. However, if you want to try their demo features, you must first go through the standard procedures to open a live account before you gain access to your free demo trading account.

View FxPro Review >>Visit FxPro >>

*Your capital is at risk ‘71.58% of retail CFD accounts lose money’

FXTM – Best Social Trading Platform

In this section, our team of experts will show you why FXTM ingenious social trading network allows forex traders to follow the world’s leading traders. FXTM’s social trading platform is governed by strict regulations when it comes to forex trading. ForexTime FXTM has acquired a local regulatory licence and complies with the Financial Sector Conduct Authority norms as well as other reputable international regulatory agencies:

• FSCA with FSP No. 46614
• CySEC with CIF licence number 185/12
• Registered with FCA with number 600475
• And Registered with 18 EU countries

South African Forex Brokers with Copy Trading

FXTM’s disruptive forex copy trading platform allows African traders the opportunity to earn extra profits by copying FXTM traders referred to as Strategy Managers. If you’re still trying to learn the ropes of forex trading, you can open an investment account with ForexTime and automatically copy the strategies of your favourite forex managers.

The main advantage that comes with FXTM’s copy trading is that there are no additional charges or copy trading fees. With FXTM’s copy system, SA traders will pay a fee:

• Only when the Strategy Manager generates a profitable transaction
• The fee is based on the Strategy Manager’s Profit Share level (E.g. 10%, 20%, etc.)

FXTM Easy Access to Copy Trading

The best forex brokers in the capital markets are the one which provides easy access to open a trading account and start trading forex. FXTM has a low minimum deposit of $100, allowing South African residents with low capital to benefit from their auto-trading platform.

To start copy trading on the FXTM social network, you only need to follow 5 easy steps:

1. Make a minimum deposit of $100
2. Pick the trading signals that fall within your risk tolerance level
3. Automatically copy the trade signals
4. Earn when the trade signals are profitable
5. Share a percentage of the profits with the Strategy Manager

Additionally, FXTM social platform allows forex traders the ability to retain full control of your trading account. FXTM customers have a wide range of copy trading tools that offer greater flexibility and enhanced experience. The copy trading service comes with the following features:

• Ability to pause your investment account (stop copy trading)
• Protection level
• Payout intervals
• Safety mode
• Investment coefficient
• Ranking of Strategy Managers
• The popularity of a Strategy Manager
• Risk level assessment for each strategy

SA traders looking to generate a passive income in the forex market can follow the leading trading signals providers found on FXTM’s social platform. Our review process concluded that FXTM provides the best copy trading service among South African forex brokers. Professional traders have also the option to boost their profits by becoming an FXTM Invest Strategy Manager. If you believe in your trading skills, you can register with FXTM and open an ECN account.

View FXTM Review >>Visit FXTM>>

IG – Largest Retail Foreign Exchange Brokers

IG is the largest retail foreign exchange broker that is FSCA (FSB) approved and regulated worldwide by tier-one regulatory agencies and trusted by more than 178,000 forex traders. IG clients can gain access to a wide range of financial markets, including currency pairs, CFDs, and share trading that come with low spreads and stockbroking services. Trading CFDs with one of the oldest financial services providers comes with a lot of advantages, including:

• 16,000 financial instruments
• Direct Market Access DMA
• Choice of leading trading platforms
• Extended trading hours on US stocks
• Weekend trading (global indices and cryptocurrencies)
• Hedging
• Guaranteed stops

Our team of experts at Compare Forex Brokers believes IG Market has extensive knowledge and expertise in the financial sector as they have been around since 1974. The range of markets available through IG Markets is mind-blowing, as no other top forex brokers can boost to offer such a massive market choice. IG Markets offer the following financial instruments:

• 80 Forex currency pairs
• World’s major stock indices (over 30 indices, including South Africa 40)
• Commodities (7 energies, 6 metals, 5 base metals contracts, 22 softs)
• Cryptocurrencies (8 digital currencies and 1 crypto index)
• CFDs share (over 12,000 stocks like Apple, Facebook, etc.)
• Interest Rates (7 CFDs products)
• Bonds (16 CFDs products)
• Industry Sectors

To gain access to all the trading features and tools that come with the IG retail investor accounts, you need to be ready to make an initial minimum deposit of Rand 4,000. Our team of experts recommends trading with IG Markets, especially if trading CFDs on stocks is your main specialty.

The second-largest retail forex broker in terms of the number of assets available for trading is Markets.com, which offers over 2,200 CFDs instruments.

View IG Markets Review >>Visit IG Markets >>

Plus500 – Best Forex Trading For Beginners

Our team of experts is dedicated to finding a solution for professional traders as well as for novice traders. We evaluated all the top forex brokers that operate in South Africa and discovered that Plus500 has several key features that cater to beginner traders, including:

• Easy-to-use CFD trading platform
• Unlimited educational resources
• Trading webinars
• Deposits in South African Rand
• Free demo accounts

Plus500 has established a worldwide presence with Plus500 Ltd being listed and traded on the London Stock Exchange LSE. Regulation is part of our assessment and Plus 500 operates under the norms and strict rules of financial regulatory bodies, including:

• Local FSCA (formerly known as the FSB) with FSP #47546
• CySEC with licence No. 250/14
• Financial Conduct Authority FCA with FRN #509909
• ASIC from Australia with AFSL #417727
• FMA in New Zealand with FSP No. 486026

Plus500 Forex Trading Resources

The first characteristic when looking for the best forex brokers for beginners is the available educational resources. Plus500 took extra points in our star scoring system for its high-quality educational material and interactive webinars. The FAQ section is also dedicated to helping beginner traders learn more about the financial service provided by Plus500 as well as learning how trading CFDs work.

Providing an easy-to-use proprietary trading platform is another major bonus for novice traders. South African traders can trade CFDs on currency pairs, shares, indices and cryptocurrencies with a minimum deposit:

• For debit/credit card Rand 1,500
• Electronic wallet like PayPal Rand 1,500
• And bank transfers with minimum 3,000 ZAR

Plus500 offers a great experience for beginner traders that are looking to just start trading. Click the button below to take advantage of the Plus500 demo account. To find out the three main strengths that come with a Plus500 account, check out our full Plus500 Review.

View Plus500 Review >>Visit Plus500 >>

*Your capital is at risk ‘72% of retail CFD accounts lose money’

FXCM – Best Fundamental And Technical Analysis

In terms of the best forex trading tools, FXCM offers the best choice of fundamental and technical analytical tools. The powerful analytical tools offered by FXCM are either built-in or come as an external tool. Our team of experts will outline a brief overview of the best forex trading tools available with one of the two FXCM trading account types.

FXCM External Tools

The exclusive trading tools that are designed to keep you updated with the latest economic trends or risk management tools that can be found with FXCM include:

• Forex Economic Calendar – lets you track high-risk events that can impact the currency pairs
• Live FX News – keeps forex traders updated with the latest fundamental developments
• Market Scanner – helps you scan FX currencies and CFDs using your favourite technical parameters
• Support and resistance levels with alternative scenarios
• Propriety Speculative Sentiment Index (SSI)
• FXCM Daily Trading Signals on 39 currency pairs

FXCM Technical Analysis Tools

FXCM offers many exclusive technical tools that are designed to enhance your trading experience. The proprietary trading platform TradeStation has built-in the ultimate trading toolkit, including:

• Technical Analyzer – gives automated signals for chart pattern, indicator signals, and support/resistance levels
• Trading Analytics – an efficient risk management tool that helps you optimize your trading strategy

Additionally, you can find countless free and paid FXCM Apps that are supported across all 3 main trading platforms, including standalone Apps. SA traders can test these analytical tools with a minimum deposit of approx. Rand 749. The good news is that South African traders can receive an FXCM deposit bonus of Rand 300. Make sure you visit their website if you want to explore the full range of technical and fundamental tools by clicking the button below.

View FXCM Review >>Visit FXCM >>

*Your capital is at risk ‘67% of retail CFD accounts lose money’

HotForex – Highest Forex Trading Leverage Broker

Headquartered in Mauritius, HotForex strives to offer its customers a trading environment that complies with the strictest regulatory norms. Authorised and regulated in several jurisdictions, SA traders can trade with the peace of mind that the funds held in segregated accounts are secured and well-protected.

As one of the most reputable forex service providers, HotForex has to abide by the standards imposed by the following regulatory bodies:

• Financial Sector Conduct Authority (FSCA) with FSP number 46632
• Cyprus Securities and Exchange Commission CySEC with licence number 183/12
• HF is also part of the Investor Compensation Fund (ICF) in Cyprus
• Financial Conduct Authority (FCA) with licence number 801701
• Dubai Financial Services Authority (DFSA) with licence number F004885
• Financial Services Authority (Seychelles) FSA with licence number 8419176-1
• And registered in 13 EU countries

HotForex Offers Forex Trading with High Leverage

Forex trading involves buying and selling high risk leveraged products and HF Markets is proud to be one of the major forex brokers with high leverage in South Africa. The advantages of trading with HotForex include:

• High leverage of 1000:1 (under FSA regulation)
• Low spreads (0.1 spread on EUR/USD)
• Online account management through the myHF portal
• Convenient trading platforms options (MT4 + MT5)
• Scalping and hedging allowed
• 6 different trading account types
• A low minimum deposit of $50 equivalent in South African Rand
• 8 Funding and withdrawal methods

Additionally, HF Markets offer negative balance protection, which ensures that African traders will not lose more than the initial deposit. The only downside that comes with a HotForex account is that Bitcoin leverage is up to 1:2. Most South African forex brokers are able to offer higher cryptocurrency leverage. For example, Pepperstone offers 5:1 crypto leverage, AvaTrade 25:1 and SuperForex with leverage of 10:1.