10 Best Forex Brokers in South Africa
Explore the Top 10 Forex Brokers in South Africa – Local traders trust these FSCA-licensed brokers. The Financial Sector Conduct Authority fully regulates each platform. We carefully reviewed and ranked them based on their performance, fees, and reliability.
The 10 Leading SA Forex Brokers’ Standout Features
| 1. |  | FSCA-Regulated Leading platform, AvaTradeGO |  |  |
| 2. |  | Tailored Account Types High Leverage High South African Trust Score | | |
| 3. |  | FSCA-Regulated No Commission Trading User-Friendly Platform | | |
| 4. |  | Low Minimum Deposit Fast Execution | | |
| 5. |  | Negative balance protection Free Daily Webinars | | |
| 6. |  | 45+ years in the market High User Trust Score | | |
| 7. |  | Strong focus on SA Flexible leverage | | |
| 8. |  | Ultra-low spreads Supports algorithmic trading | | |
| 9. |  | Strong global reputation TradingView integration | | |
| 10. |  | Low commissions MT4, MT5, cTrader, and TradingView | | |
| 11. |  | Crypto CFDs Supports Islamic accounts | | |
10 Best Forex Brokers in South Africa (2025)
- AvaTrade – Regulated by the FSCA in South Africa.
- HFM – Offers high leverage and zero-spread accounts for active traders.
- Octa – FSCA-regulated in South Africa, Low Deposit
- Exness – Extremely low minimum deposit and instant ZAR withdrawals.
- XM – Free daily webinars and educational content in multiple languages.
- IG – Powerful proprietary platform with access to over 17,000 markets.
- FXTM – Flexible leverage and comprehensive educational resources.
- Tickmill – Known for ultra-low spreads and commission-based accounts.
- FXCM – Offers TradingView integration and live trading analytics.
- FP Markets – Supports Islamic accounts and has low minimum deposits.
Top 10 Forex Brokers (Globally)
1. AvaTrade
Ava Capital Markets Pty Ltd (FSP 45984) fully regulates AvaTrade through South Africa’s FSCA. It offers forex and CFDs under local compliance standards, including AML/KYC protocols, and segregates client funds in approved banks like ABSA.
| Broker | AvaTrade |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP 45984 (Ava Capital Markets Pty Ltd) |
| Local Offices in South Africa | Johannesburg |
| Can You Trade with Local Currency (ZAR)? | Yes |
| Is There Local Support in South Africa? | Phone and email support available |
| South Africa Based Account | Yes |
| Minimum Deposit in ZAR | ZAR 300 (depending on payment method) |
| Sign-Up Bonus for New Traders | None |
| Fund Withdrawal Fee | None |
| Spreads from | From 0.9 pips (fixed spreads) |
| Commissions | None |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is AvaTrade safe for South African traders?
The FSCA regulates AvaTrade under FSP 45984, and the broker fully complies with local laws, including fund segregation and KYC/AML protocols. As a result, this strong regulatory oversight helps create a secure and trustworthy trading environment for South African clients.
Does AvaTrade offer ZAR accounts?
AvaTrade supports ZAR-based trading accounts specifically for South African clients. Consequently, users can deposit, trade, and withdraw in their local currency, minimizing conversion fees and streamlining fund transfers through local banking options such as ABSA.
Pros and Cons
Our Insights
AvaTrade is a well-regulated and trusted broker for South African traders. FSCA oversight, local support, ZAR accounts, and strong platform options ensure a secure and accessible trading environment, though advanced traders might find the account variety limited.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
2. HFM
The FSCA regulates HFM in South Africa under FSP license 46632. It complies with local rules, including client fund segregation and AML/KYC protocols, and offers South Africans access to regulated forex and CFD trading services.
| Broker | HFM |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP 46632 (HF Markets SA (Pty) Ltd) |
| Local Offices in South Africa | Yes |
| Can You Trade with Local Currency (ZAR)? | Yes |
| Is There Local Support in South Africa? | Yes |
| South Africa Based Account | Yes |
| Minimum Deposit in ZAR | ZAR 70 |
| Sign-Up Bonus for New Traders | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | From 0.0 pips (with Zero account) |
| Commissions | On Zero Spread and PAMM accounts |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is HFM regulated in South Africa?
The FSCA regulates HFM under FSP number 46632, ensuring the broker’s full compliance with South African laws. As a result, it adheres to strict AML/KYC standards and securely segregates client funds to protect local traders.
Does HFM offer ZAR accounts and local support?
HFM offers ZAR-based trading accounts and maintains local offices in Johannesburg. In addition, South African clients benefit from dedicated customer support available via phone, email, and live chat during business hours.
Pros and Cons
Our Insights
HFM is a trusted, FSCA-regulated broker offering ZAR accounts, local support, and low deposit requirements. It’s a solid choice for South African traders seeking secure forex and CFD trading with flexible account options and protections.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
3. Octa
 | Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes |
Octa is recognized in South Africa for its low minimum deposit, FSCA regulation, and commission-free trading. With flexible platforms, speedy withdrawals, and beginner-friendly educational tools, it ranks highly among brokers servicing South African traders in 2025.
| Broker | Octa |
| Minimum Deposit | 25 USD |
| Fund Withdrawal Fee | Varies by method |
| Spreads From | 0.0 pips |
| Commissions | Variable |
| Swap Fees | Varies |
| Leverage | Up to 1:500 |
| Margin Requirements | Varies |
| Account Segregation | Yes |
| Negative Balance Protection | Yes |
| Investor Protection Schemes | Yes |
| Regulation | 🇨🇾 CySEC 🇻🇺 MISA 🇿🇦 FSCA 🇲🇺 FSC |
| Open an Account | |
Frequently Asked Questions
Is Octa regulated in South Africa?
Yes. Octa operates locally under an FSCA license through Orinoco Capital (Pty) Ltd. Although trades are executed offshore, the broker remains accountable under South African financial law, thereby offering a relatively safe and regulated trading environment.
What are Octa’s fees for South African users?
Octa offers zero commissions on standard forex accounts, along with no deposit or withdrawal fees. Additionally, traders benefit from tight spreads starting from 0.6 pips. Withdrawals are quick and are typically processed within 1 to 3 hours when using local South African payment methods.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated by FSCA | No ZAR-denominated accounts |
| $25 low minimum deposit | Offshore trade execution |
| No commission on forex | Limited product range (CFDs only) |
| Fast withdrawals in South Africa | No proprietary desktop platform |
| MT4, MT5, and mobile platforms | No phone support, only live chat |
| Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes |
Our Insights
Octa is a strong option for South African traders, offering fast local funding, no hidden fees, and strong regulatory oversight. With user-friendly platforms and minimal entry costs, it’s ideal for beginners and experienced users alike.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Top 3 Forex Brokers in South Africa – A Comparison
| Feature | 🇿🇦 AvaTrade |  | |
| Accepts Traders in South Africa | Yes | Yes | Yes |
| Regulation in South Africa | 🇿🇦 FSP 45984 (Ava Capital Markets Pty Ltd) | 🇿🇦 FSP 46632 (HF Markets SA (Pty) Ltd) | 🇿🇦 FSCA 🇨🇾 CySEC 🇻🇺 MISA 🇲🇺 FSC |
| Minimum Deposit | ZAR 300 | ZAR 70 | ZAR 450 |
| Fund Withdrawal Fee | Third Party Fees may Apply | Third Party Fees may Apply | Third Party Fees may Apply |
| Spreads From | From 0.9 pips (fixed) | From 0.0 pips (Zero account) | From 0.0 pips |
| Commissions | None | On Zero Spread and PAMM accounts | Variable |
| Investor Protection Schemes | Yes | Yes | Yes |
| Negative Balance Protection | Yes | Yes | Yes |
| Read Review | | | |
| Open an Account | | | |
4. Exness
 | Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes |
The FSCA regulates Exness in South Africa under FSP license 51024, and it also holds an ODP license. This allows it to offer forex and CFD trading with enhanced risk controls, ensuring strong local compliance and protection for South African traders.
| Broker | Exness |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP 51024 (Exness ZA (Pty) Ltd) |
| Local Offices in South Africa | No dedicated office confirmed |
| Can You Trade with Local Currency (ZAR)? | Yes |
| Is There Local Support in South Africa? | Yes |
| South Africa Based Account | Yes |
| Minimum Deposit in ZAR | ZAR 19 |
| Sign-Up Bonus for New Traders | None |
| Fund Withdrawal Fee | Free withdrawals |
| Spreads from | From 0.0 pips (Raw account) |
| Commissions | On Raw and Zero accounts |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is Exness regulated in South Africa?
Yes, the FSCA regulates Exness under FSP number 51024, and it holds an ODP license. This ensures strict compliance with local trading laws and enhanced client protection for South African forex and CFD traders.
Does Exness offer ZAR accounts and local support?
Exness allows South African traders to open ZAR-denominated accounts. While it does not have a physical office, it provides responsive local support through online channels, including email and multilingual live chat.
Pros and Cons
| Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes |
Our Insights
Exness is a well-regulated broker offering low minimum deposits, ZAR accounts, and strong client protections. Despite lacking a local office, its efficient support and competitive trading conditions make it a solid choice for South African traders.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5. XM
 | Minimum Deposit: $5 Regulated by: FSC Crypto: Yes |
XM ZA (Pty) Ltd holds FSCA license 49976, regulating XM in South Africa. However, XM Global Limited in Belize executes trades offshore, meaning South African clients’ trading counterparty is not locally licensed as an ODP.
| Broker | XM |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP 49976 (XM ZA (Pty) Ltd) |
| Local Offices in South Africa | Yes |
| Can You Trade with Local Currency (ZAR)? | Yes |
| Is There Local Support in South Africa? | Yes |
| South Africa Based Account | None |
| Minimum Deposit in ZAR | ZAR 300 |
| Sign-Up Bonus for New Traders | Yes |
| Fund Withdrawal Fee | Free withdrawals |
| Spreads from | From 0.6 pips (Standard account) |
| Commissions | Commission-free on Standard accounts |
| Investor Protection Schemes | Segregated funds, FSCA dispute resolution |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is XM regulated by the FSCA in South Africa?
Yes, the FSCA regulates XM ZA (Pty) Ltd (FSP 49976). However, XM Global Limited executes trades offshore. Therefore, the local entity acts as an intermediary for South African traders, rather than being the direct issuer of the trading products.
Can South African traders use ZAR accounts with XM?
XM offers ZAR-denominated accounts to South African clients. Their Johannesburg offices provide local support via phone, email, and live chat, ensuring smooth trading experiences for local traders.
| ✓ Pros | ✕ Cons |
| FSCA-regulated local entity | Trades executed offshore |
| ZAR accounts available | No local product issuer license |
| Local support in Johannesburg | Higher minimum deposit than some |
| Bonus offers available | Spreads wider on standard account |
| Negative balance protection | Limited advanced trading tools |
| Minimum Deposit: $5 Regulated by: FSC Crypto: Yes |
Our Insights
XM is an FSCA-regulated broker offering ZAR accounts and local support. However, XM Global Limited executes trades offshore. South African clients should understand the local entity’s intermediary role regarding risk and dispute resolution.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
6. IG
 | Minimum Deposit: $250 Regulated by: FCA, ASIC, CFTC, NFA, BaFin Crypto: Yes |
IG is regulated by the FSCA in South Africa under FSP number 41393. It operates locally as both a Financial Services Provider and Over-the-Counter Derivative Provider, offering CFDs and derivatives with a strong presence in Johannesburg for South African clients.
| Broker | IG |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP 41393 (IG Markets South Africa Limited) |
| Local Offices in South Africa | Yes |
| Can You Trade with Local Currency (ZAR)? | Yes |
| Is There Local Support in South Africa? | Yes |
| South Africa Based Account | Yes |
| Minimum Deposit in ZAR | Approx. ZAR 1,000 |
| Sign-Up Bonus for New Traders | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | From 0.6 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is IG regulated by the FSCA in South Africa?
IG Markets South Africa Limited is regulated by the FSCA under FSP number 41393. It is authorized as both a Financial Services Provider and an Over-the-Counter Derivative Provider, ensuring full compliance with local regulations.
Can South African traders fund their accounts in ZAR with IG?
IG offers ZAR-denominated accounts for South African clients, allowing easy deposits and withdrawals in local currency. This simplifies trading and avoids currency conversion fees, enhancing the overall trading experience.
Pros and Cons
| Minimum Deposit: $250 Regulated by: FCA, ASIC, CFTC, NFA, BaFin Crypto: Yes |
Our Insights
IG is a well-regulated broker with a strong local presence in South Africa, offering ZAR accounts and robust trading tools. While commissions and minimum deposits may be higher, its regulatory compliance and customer support make it a reliable choice.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
7. FXTM
 | Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Crypto: Yes |
FXTM is regulated by South Africa’s FSCA under FSP license number 46614. The broker is also licensed as an ODP, allowing it to offer CFDs. However, South African clients may be onboarded through its Mauritius-based entity, Exinity Limited.
| Broker | FXTM |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP 46614 |
| Local Offices in South Africa | None |
| Can You Trade with Local Currency (ZAR)? | None |
| Is There Local Support in South Africa? | Yes |
| South Africa Based Account | None |
| Minimum Deposit in ZAR | ZAR R300 |
| Sign-Up Bonus for New Traders | Yes |
| Fund Withdrawal Fee | Yes |
| Spreads from | From 1.5 pips Standard Account |
| Commissions | On ECN Accounts only |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is FXTM regulated by the FSCA in South Africa?
Yes, FXTM is FSCA-regulated under license number 46614 and is also licensed as an Over-the-Counter Derivative Provider, enabling it to offer forex and CFD trading services legally to South African clients.
Do South African clients receive FSCA investor protections with FXTM?
While FXTM is FSCA-regulated, many South African clients are onboarded via its Mauritius-regulated entity. This structure could limit access to certain local protections offered under FSCA oversight, including dispute resolution and fund segregation requirements.
Pros and Cons
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Crypto: Yes |
Our Insights
FXTM is a reliable, FSCA-regulated broker offering South African traders access to forex and CFD markets. While accounts may be handled via its Mauritius entity, clients benefit from negative balance protection and strong international regulatory oversight.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
8. Tickmill
 | Minimum Deposit: $100 Regulated by: FCA, CySEC, FSA Crypto: Yes |
Tickmill is regulated by South Africa’s FSCA under FSP license 49464. It operates locally via Tickmill South Africa (Pty) Ltd and is licensed as an ODP, offering CFDs and derivatives with a physical office in Sandton.
| Broker | Tickmill |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP 49464 |
| Local Offices in South Africa | Yes |
| Can You Trade with Local Currency (ZAR)? | Yes |
| Is There Local Support in South Africa? | Yes |
| South Africa Based Account | Yes |
| Minimum Deposit in ZAR | ZAR 600 |
| Sign-Up Bonus for New Traders | None |
| Fund Withdrawal Fee | None |
| Spreads from | From 0.0 pips (Pro Account) |
| Commissions | From $2 per side on Pro |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is Tickmill regulated in South Africa?
Tickmill is regulated by the FSCA under FSP number 49464. It also holds an Over-the-Counter Derivative Provider (ODP) license, allowing it to legally offer CFD and forex trading to South African clients.
Can South African traders access local support and funding options?
Tickmill provides local customer support and allows deposits in ZAR. It also maintains a local office in Sandton, Johannesburg, offering convenient services and assistance tailored to South African traders.
Pros and Cons
| Minimum Deposit: $100 Regulated by: FCA, CySEC, FSA Crypto: Yes |
Our Insights
Tickmill offers South African traders a secure and regulated trading environment with competitive spreads, fast execution, and local support. While it lacks ZAR accounts and advanced tools, it remains a strong choice for cost-effective forex and CFD trading.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐⭐ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
9. FXCM
 | Minimum Deposit: $50 Regulated by: FCA, ASIC, CySEC, FSCA Crypto: Yes |
FXCM is regulated by South Africa’s FSCA and operates locally through Stratos South Africa (Pty) Ltd with FSP license number 46534, issued in 2016. It complies with local regulations, including fund segregation, AML/KYC protocols, and FSCA dispute resolution access.
| Broker | FXCM |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP No. 46534 |
| Local Offices in South Africa | Yes |
| Can You Trade with Local Currency (ZAR)? | Yes |
| Is There Local Support in South Africa? | Yes |
| South Africa Based Account | Yes |
| Minimum Deposit in ZAR | Varies |
| Sign-Up Bonus for New Traders | None |
| Fund Withdrawal Fee | Varies |
| Spreads from | Variable |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is FXCM regulated in South Africa?
FXCM is regulated by the FSCA through Stratos South Africa (Pty) Ltd, holding FSP license number 46534. This ensures compliance with local financial laws, protecting South African traders with strict regulatory standards.
Can South African traders trust FXCM?
FXCM follows FSCA regulations, including segregating client funds, AML/KYC procedures, and access to dispute resolution. These measures provide South African traders with enhanced security and regulatory oversight when trading forex and CFDs with FXCM.
Pros and Cons
| Minimum Deposit: $50 Regulated by: FCA, ASIC, CySEC, FSCA Crypto: Yes |
Our Insights
FXCM offers South African traders a well-regulated, secure trading environment with strong compliance and local licensing. While product variety is somewhat limited, its focus on client protection and regulatory adherence makes it a reliable choice for cautious investors.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
10. FP Markets
 | Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes |
FP Markets is FSCA-regulated in South Africa under license number 50926. This ensures compliance with local laws, including segregated funds, AML and KYC protocols, and access to dispute resolution, offering trusted forex and CFD services to South African clients.
| Broker | FP Markets |
| Accepts Traders in South Africa | Yes |
| Regulation Number in South Africa | FSP No. 50926 |
| Local Offices in South Africa | None |
| Can You Trade with Local Currency (ZAR)? | None |
| Is There Local Support in South Africa? | None |
| South Africa Based Account | None |
| Minimum Deposit in ZAR | ZAR 1900 |
| Sign-Up Bonus for New Traders | None |
| Fund Withdrawal Fee | Depends on method |
| Spreads from | 0.0 pips (Raw Account) |
| Commissions | From $3 per lot (Raw) |
| Investor Protection Schemes | Limited |
| Negative Balance Protection | Yes |
| Open an Account | |
Frequently Asked Questions
Is FP Markets regulated in South Africa?
FP Markets is regulated by the Financial Sector Conduct Authority (FSCA) under FSP license number 50926, authorizing it to provide forex and CFD trading services to South African clients in compliance with local laws.
Are client funds safe with FP Markets in South Africa?
Yes, FP Markets complies with FSCA regulations, which require it to segregate client funds, implement robust anti-money laundering (AML) practices, and follow Know Your Customer (KYC) protocols, helping ensure a secure and transparent trading environment for South African traders.
Pros and Cons
| Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes |
Our Insights
FP Markets is a well-regulated broker under the FSCA, offering competitive spreads, advanced platforms, and reliable execution. While lacking ZAR accounts and bonuses, it remains a strong option for South African traders seeking a secure trading environment.
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Forex Trading in South Africa – Quick Overview
Forex trading in South Africa is legal and supported by a growing number of regulated brokers. The Financial Sector Conduct Authority (FSCA) serves as the main regulatory body, ensuring that trading is conducted safely. South African traders benefit from the ability to trade in ZAR with localized accounts, access to global platforms, and local support options.
What South African Traders want to know!
Q: Is forex trading legal in South Africa?
Q: Do I need a license to trade forex in South Africa?
A: No, individual traders do not need a license. However, brokers operating in South Africa must be licensed by the FSCA.
Q: Can I open a forex account in ZAR (South African Rand)?
A: Yes, many brokers offer ZAR-based accounts, which help avoid currency conversion fees and make funding easier for local traders.
Q: What is the maximum leverage I can get with South African brokers?
A: Leverage varies depending on the broker. Some FSCA-regulated brokers offer up to 1:500, but traders should use leverage responsibly due to the high risk.
Q: Are my funds safe with South African brokers?
A: Funds are generally safe with FSCA-regulated brokers, though South Africa does not have a formal investor compensation scheme. Always choose well-reviewed and properly regulated brokers.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated by the FSCA | No formal investor compensation scheme |
| ZAR account support | Spread betting not allowed |
| Access to global brokers and platforms | Some international brokers may lack FSCA oversight |
| Local support and resources | Taxation rules may be unclear to new traders |
| High leverage options available | Leverage increases risk if unmanaged |
Our Insights
Forex trading in South Africa offers a promising environment for both new and experienced traders. With oversight by the FSCA, support for local currency accounts, and access to leading trading platforms, South Africans can confidently participate in the global forex market.
It’s essential to choose regulated brokers, understand Trading taxation, and manage risks carefully, especially when using high leverage.
In Conclusion
South Africa regulates forex trading well and makes it accessible, with support for local currency and top trading platforms. Traders should choose FSCA-regulated brokers, understand their tax responsibilities, and actively manage risk, especially when using high leverage, to trade safely and successfully.
You might also like:
Faq
Yes, forex trading is legal in South Africa. It is regulated by the Financial Sector Conduct Authority (FSCA), which ensures that brokers and traders operate within legal guidelines.
The FSCA (Financial Sector Conduct Authority) regulates forex brokers in South Africa. Only brokers licensed by the FSCA are authorized to offer financial services to South African residents.
No personal license is required for individual traders. However, brokers must be licensed by the FSCA to legally operate in South Africa.
Yes, profits made from forex trading are subject to tax under South African Revenue Service (SARS) guidelines. Traders must declare earnings as part of their income tax.
Yes, South Africans can trade with international brokers, but it’s safer to choose those regulated by the FSCA or other top-tier authorities like the FCA, ASIC, or CySEC.
You can start with as little as $5 to $100, depending on the broker. However, beginners are advised to start with a demo account or small amounts to manage risk.
Yes, forex trading involves high risk due to market volatility. Proper education, risk management, and using stop-loss orders can help minimize losses.
Popular platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. Many brokers offer mobile and web-based platforms for convenience.
Look for brokers regulated by the FSCA, with low fees, strong platform support, good customer service, and beginner-friendly educational tools.
Yes, most brokers offer mobile trading apps for both Android and iOS. These apps allow you to monitor the market, execute trades, and manage your account on the go.
Sidebar rates
Join 350 000+ traders receiving Free Trading Signals
