Top South African Forex Brokers - 2017

South Africa is one of the most developed countries in Africa, so it’s not surprising that the country enjoys one of the most reliable and established regulatory bodies in the region for those who want to trade Forex (and pursue other economic trading opportunities).  The Financial Services Board (FSB) is an independent institution, established to oversee the South-African non-banking financial services industry, and it was established over twenty years ago, making it a reliable regulatory body for South Africa Forex brokers.  

The best South African Forex brokers will, of course, hold FSB regulation, though there are many South African Forex brokers that operate in the country without oversight.  We would recommend that in order to become a successful Forex trader in South Africa, you choose a broker that is regulated and that adheres to industry standards meant to protect traders’ funds, such as maintaining segregated client accounts and minimum capital requirements.  

Before you begin Forex trading in South Africa, consider what type of trading you want to pursue. Do you plan to trade the South African currency, the rand?  Or are you looking to trade standard currency pairs such as EUR/USD?  No matter what pair (or pairs) you choose, look at the spreads offered by the brokers on the South African Forex brokers list below and make sure you’re getting the best spreads available.  Likewise, make sure that your Forex broker will allow you to deposit in rands, if necessary.  

While you’re evaluating the trading conditions of the Forex brokers in South Africa, it’s also important to look at the trading platforms available.  Are you looking for South African MT4 Forex brokers, or for a web-based option?  Do you want a broker that has its own platform?  Don’t be afraid to open a demo to try different South African Forex brokers before deciding which one is best for you.  With a demo account you can optimize your trading strategy and really test the platforms and trading conditions for yourself.  With the right research and testing you should have no problem finding the best South African Forex broker.

Broker's Name Minimum Deposit Deposit Bonus Type of Platform Maximum Leverage Regulation Rating More Info
Markets $100 None MetaTrader 4, Proprietary platform 1:50 ?
Default leverage of 1:50. T&Cs apply
CySEC, FSB

9.7/10
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AvaTrade $100 Up To $5000 MetaTrader 4, Proprietary platform, Web-based 1:400 MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC

9.0/10
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ITRADER $250 None MetaTrader 4, Proprietary platform None CySEC

8.8/10
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4 UFX $100 up to $5000 Cash Back MetaTrader 4, Proprietary platform 1:400 MiFID

8.6/10
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5 easyMarkets $100 50% up to $2000 MetaTrader 4, Proprietary platform 1:400 CySEC, MiFID, ASIC

8.3/10
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Forex Trading Brokers in South Africa

Markets

Markets.com is operated by Safecap Investments Limited, a Financial Services Company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 092/08 and by the Financial Services Board (FSB) in South Africa as an authorized Financial Services Provider under the no. 43906. Markets.com was the recipient of the London Investor Show Forex “Best Customer Service 2012” award, and the Global Banking Finance Review “Best Broker in Customer Service Europe 2012” award, in addition to numerous other awards over the past years.

Markets Review
AvaTrade

AvaTrade is among the top Forex brokers in the world with offices in New York, Dublin, Sydney, Milan, Tokyo and other locations. It is regulated by the Central Bank of Ireland and licensed by MiFID in the European Union as well as by several other licensing bodies. AvaTrade’s features include, among other things, a choice of platforms, a demo account, an Ava debit card for all live account holders, access to Trading Central charting tools for depositors of over $1000 and free withdrawals.

AvaTrade Review
ITRADER

ITRADER.COM is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 198/13. Something that stands out from ITRADER.COM’s offering is the wide range of 31 European equities available for trading, as well as 50 North American stocks. There is also a particularly wide range of commodities offered, including softs such as corn, cocoa and orange juice.

ITRADER Review
UFX

UFX, founded in 2007, is one of the leading brokers in the Forex industry. In 2011, UFX became regulated in the European Union, MIFID, and in 2013 it received additional recognition by Belize’s International Financial Services Commission for its high ethical standards, customer protection and security of funds. UFX is a well -rounded Forex broker. The platform is user-friendly and the features are numerous. UFX can be accessed on Facebook and there are often interesting promotions offered through this social media venue.

UFX Review
easyMarkets

EasyMarkets is an online market maker established in 2003 under the trade name of “easy-forex.” In December 2015, it rebranded and it now offers traders access to global markets with a wide choice of one simple trading account. EasyMarkets is domiciled in Limassol, Cyprus, is regulated by CySec and is licensed in Europe by MiFid and in Australia by ASIC. EasyMarkets maintains offices in London, Warsaw, Shanghai and Sydney. It boasts $1.5 trillion in turnover and over 100,000 active traders.

easyMarkets Review