Lowest Spread Forex Brokers In South Africa 2022

The best low spread forex broker in South Africa has spreads from 0.0 pips EURUSD and no commission:

  • IC Markets IC Markets – Lowest Spread Forex Broker
  • Pepperstone Pepperstone – Lowest Commission Forex Broker
  • City Index City Index – Low CFDs Broker Costs
  • Plus500 Plus500 – Best Beginner Forex Trading Platform
  • fxtm logo FXTM – Best Currency Pairs Range
  • hotforex logo HotForex – Highest Leverage Forex Broker

Our team of experts at Compare Forex Brokers is regarded as the go-to authority on broker review content. Below we’ve put our expertise at work to find the best South African Forex Brokers with low spread, low commissions and overall low total trading costs.

IC Markets
Pepperstone
City Index
Plus500
FXTM
Our Rating
8.50
9.33
6.83
5.83
6
77% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd
74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider
73% of retail CFD accounts lose money
77% of retail CFD accounts lose money
77% of retail investor accounts lose money when trading CFDs with this provider

Regulations and Licenses

Feature
IC Markets
Pepperstone
City Index
Plus500
FXTM
ASIC (Australia)
FSCA (South Africa)
FSA (Seychelles)

Brokerage

Feature
IC Markets
Pepperstone
City Index
Plus500
FXTM
EUR/USD Avg. Raw Spread
0.02
0.17
-
-
0.3
GBP/USD Avg. Raw Spread
0.23
0.59
-
-
0.5
AUD/USD Avg. Raw Spread
0.17
0.24
-
-
0.5
EUR/USD Standard Spread
0.62
0.75
0.80
-
1.9
EUR/USD Fixed Spreads
-
-
-
-
Commissions (USD Base)
$3.50
$3.50
-
-
$2.00
Minimum Deposit
$0
$0
$150
$100
$500
Swap Free Account
No Inactivity Fees
Funding Methods
15+
16+
6+
3+
13+
No Funding Fees

Markets and Instruments

Feature
IC Markets
Pepperstone
City Index
Plus500
FXTM
Currency Pairs
61+
62+
84+
71+
63+
Cryptocurrency CFDs*
18+
12+
25+
15+
-
Index CFDs
16+
14+
21+
67+
11+
Share CFDs
100+
300+
4500+
1816+
180+
Commodities CFD
26+
9+
46+
22+
7+
Stockbroking
-
-
-
10+
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
30:1
Pro. Max Leverage (Australia)
500:1
500:1
400:1
300:1
300:1
Retail Max. Leverage (South Africa)
-
-
-
-
-
Pro. Max. Leverage (South Africa)
-
-
-
-
-
Retail Max. Leverage (With offshore regulators)
500:1
200:1
-
300:1
Accounts:
Advantage & Advantage+ 2000:1
Micro Account 1000:1

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

Trading Platforms + Tools

Feature
IC Markets
Pepperstone
City Index
Plus500
FXTM
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
ECN pricing
Smart Trader Tools
Trade in 4,500 markets
Trade cannabis index
Floating leverage

Overall

IC Markets
Pepperstone
City Index
Plus500
FXTM