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

9.7/10
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FXTM $5 Sign Up - 20% MetaTrader 4, Sirix, MetaTrader 5 1:1000 CySEC, IFSC

9.6/10
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Markets $100 None MetaTrader 4, Proprietary platform 1:50 ?
Default leverage of 1:50. T&Cs apply
CySEC, FSB

9.5/10
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4 FXCM $50 ?
Standard: $2000, Mini: $50
None MetaTrader 4, Proprietary platform, Web-based 1:50 ASIC, FCA

9.4/10
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5 CMSTrader $500 None Other, Sirix 1:200 FSP

9.3/10
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Forex Trading Brokers in South Africa

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
FXTM

FXTM or Forex Time, founded in 2012, is still considered a newcomer to the online Forex trading scene. However, within a span of two short years, this broker has managed to carve out a name for itself by wining several industry awards such as “Best Newcomer 2013” and “Fastest Growing Forex Broker.” FXTM is headquartered in Cyprus and is regulated by IFSC of Belize as well as FSB.

FXTM Review
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
FXCM

FXCM (Forex Capital Markets) was founded in 1999 in the U.S.A. and was an early pioneer of internet-based trading. FXCM was listed among the fastest growing companies by Inc. 500 List of America’s Fastest Growing Companies three years in a row. The FXCM Group has headquarters in New York, with offices around the globe in places such as the U.K., France, Italy, and Australia. It is regulated and licensed in each of them. FXCM is also a publicly traded company on the Nasdaq Exchange, the major U.S. exchange listing the equity of large technology-based companies.

FXCM Review
CMSTrader

Cmstrader is a relative newcomer to the Forex scene. Since opening its doors in 2013, it has won several international awards including one for being the leading Forex broker and for having best customer service in 2013. It offers a host of features but most outstanding is its customer support which is provided in a number of ways including by remote control through team viewer, a high tech and timely system not offered by any other broker.

CMSTrader Review