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

Pepperstone
IC Markets
FP Markets
AvaTrade
IG
Our Rating
9.33
8.50
8.17
8.33
6.67
Smart Trader Tools
No Dealing Desk
Fastest Limit Order Execution Speed
Choice of social trading tools
Guaranteed stop loss orders

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 (Cyprus)
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
0.70
0.4
0.59
AUD/USD Avg. Raw Spread
0.24
0.17
0.40
0.5
0.3
EUR/USD Standard Spread
0.77
0.62
1.30
0.90
1.13
EUR/USD Fixed Spreads
-
0.90
Commissions (USD Base)
$3.50
$3.50
$3.00
-
$3.50
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)
500:1
-
-
-
-
Professional Leverage
500:1
-
500:1
400:1
200:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.

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

Overall

Pepperstone
IC Markets
FP Markets
AvaTrade
IG
Broker Official Site Our Rating Regulation EUR/USD Spread GBP/USD Spread AUD/USD Spread MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
Visit Broker > 9.33 SCG, ASIC
FCA, CySEC
0.17 0.59 0.24 85ms $0 62+ 12+ 30:1 500:1
Visit Broker > 8.50 ASIC, FSA
CySEC
0.02 0.23 0.17 130ms $0 61+ 18+ 30:1 500:1
Visit Broker > 8.17 ASIC, CySEC 0.20 0.70 0.40 95ms $100 63+ 4+ 30:1 500:1
Visit Broker > 8.33 AISC, FSCA
IIROC, ADGM
0.3 0.4 0.5 160ms $100 55+ 15+ 30:1 400:1
Visit Broker > 6.67 ASIC, CySEC
FCA,FMA
0.17 0.59 0.3 140ms $450 100+ 12+ 30:1 200:1

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.