There are more than a hundred Forex brokers in South Africa. The numbers only swell when take the global brokers into account.
In this article, we will look at the top 10 Forex brokers in South Africa.
Our top 10
Let’s jump into the list of our selected brokers.
1. AvaTrade
AvaTrade is overall a good broker for Forex trading in South Africa.
Minimum Deposit limit
The minimum deposit limit of AvaTrade is USD100. We often see several high-end brokers with the same kind of deposit limits.
Leverage rate
Leverage rates of AvaTrade are 1:400.
Trading Platform
The trading platform of AvaTrade is MT4.
Regulation
AvaTrade is regulated by FSCA and a few other regulatory authorities as well.
2. Exness
Exness is the most easy-to-use broker in South Africa.
Minimum deposit limit
Exness has the lowest minimum deposit limit of 10 USD.
Leverage rates
Exness offers a very high leverage rate of 1:1000.
Trading Platform
The trading platform of MT4 is incorporated with the Exness broker’s platform.
Regulation
FSCA and CySec monitor the regulation of Exness.
3. FX Pro
FX Pro is not a very famous broker. However, it is a good option for new traders.
Minimum Deposit limit
The minimum deposit limit of FX pro is 100 USD.
Leverage rate
FX Pro has variable leverage rates. The spreads of FX pro are set at 174 pips.
Trading Platform
The trading platform of FX pro is MT4.
Regulation
CySEC and FSCA regulate FX Pro.
Deposit methods
The deposit methods of FX are Bank transfer and credit/debit card payments.
4. Plus 500
Plus 500 is an overall good broker option for South African traders.
Minimum Deposit limit
The minimum deposit limit of plus 500 brokers is R1500.
Leverage rate
Plus 500 has an attractive leverage rate of 1:300
Trading Platform
Plus 500 functions on the MT4 platform.
Spreads
The spread rate of Plus 500 broker is set at 160 pips.
Regulation
The regulatory body of Plus 500 broker is FSCA.
Deposit methods
Plus, 500 supports all the major deposit payment methods.
5. XM broker
XM broker is another fast and reliable broker that is a decent option for South African brokers.
Minimum Deposit limit
The minimum deposit limit of an XM broker is 5 dollars.
Leverage rate
Leverage rates of XM brokers are at 1:500.
Trading Platform
The trading platform of XM brokers is MT4.
Spreads
One hundred eighteen pips of moderate spread rate are attractive for XM brokers.
Regulation
FSCA brokers regulate XM brokers.
| Broker | Min. Deposit | Leverage | Trading Platform | Regulation |
| 6. FXTM | 50 $ | 1:400 | MT4 | FSCA , FSA |
| 7. HotForex | 200$ | 1:500 | MT4 | FSCA |
| 8. Blackstone Futures | R1000 | 1:500 | MT4 & MT5 | FSCA |
| 9. CM Trading | 100 USD | 1:400 | MT4 | FSCA, FCA |
| 10. Khwezi Trade | ZAR 200 | Variable | MT4 | FSCA |
Frequently Asked question
This is the most frequently asked question about Forex brokers in South Africa;
What is the most important feature about a Forex broker?
Regulation is the most important feature that you should look out for.
Summary
Our article has explained the most impactful parameters that affect the trading conditions.
