Recommended Forex Trading Brokers In Africa

Recommended forex trading brokers in africa


Best Forex Brokers in South Africa 2020

We tested 30+ brokers & then selected the 10 best Forex brokers for South Africans that are regulated with FSCA, FCA or CySEC.

By Rahul Sharma (Editorial Staff) — 

There are over 50+ Forex Brokers that accept South African traders.

Most of these brokers claim to offer more or less the same features & trading environment.

So how do you decide which broker is best for you?

At, we did the full research for you so that you don’t have to.

First we narrowed down the list & selected only the regulated & credible brokers that work in the South African market.

Then we signed up with each broker & analysed multiple factors including: minimum deposit, trading fees (average spread, commissions & even fees on deposits/withdrawals), maximum leverage, convenience of trading platform (mobile & desktop), ease of withdrawals, technical support.

We even put in consideration the actual user reviews and ratings of real traders.

Now without further waiting…

10 Best South African Forex Brokers

Here’s our complete list of 10 best performing forex brokers in South Africa. We have compared their regulation, fees (spread & non-trading fees), time taken during deposits & withdrawals, trading execution time & support offered (last 4 months):


Hotforex – Best Forex Broker (FSCA Regulated, Low Fees, Zero deposit/withdrawal charges)

Hotforex, or HF Markets a 100% STP forex broker in South Africa.

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They were founded in 2010 & have been regulated by FSCA as HF MARKETS SA (PTY) LTD since 2016.

In terms of trading fees, Hotforex has the lowest spread with their Zero account & there is no fees on deposits/withdrawals. Their average EUR/USD spread is around 1.2 (it may vary according to market conditions) with Premium account, and it is normally around 0.3 pips with Zero account. Hotforex is solid for low fees!

Hotforex offers ZAR accounts for South African traders, this is optional & you can choose USD or EUR base currency account as well.

They offer 12 trading platforms Including the latest MT5, and the MetaTrader for Android, iPhone and desktop.

Best Forex Brokers in South Africa 2020

Their trading instruments on offer are very wide: forex, cryptos, shares, bond & commodities.

They also have an attractive 100% deposit bonus for new customers in South Africa and have great loyalty programs for existing clients.

The funding & withdrawal options at Hotforex are also very good, with zero fees, but they don’t offer local SA bank options for deposit & withdrawals.

In terms of support, they have a quick Live chat support, but on the negative side they don’t have a local phone number in South Africa for support.

Hotforex Pros

  • Regulated with South Africa’s FSCA (FSP No: 46632) & FCA in UK.
  • Very Tight spread with Zero Account i.e on average 0.3 pips (plus commissions) for EUR/USD. The spread with Premium & Micro account is also very competitive.
  • Zero fees on deposit & withdrawals.
  • 100% Deposit Bonus
  • Very helpful Live Chat Support.

Hotforex Cons

  • No local banks for deposit or withdrawals.

    But wire transfer is available, and this method can take 2-7 days to be credited.

  • They don’t have a local phone number for support in South Africa.

    But you can call their international number 24/5 or request a free callback via their live chat.

read our in-depth Hotforex review

2. XM Trading – Fast Execution & low spread

XM Group is a part of Trading Point of Financial Instruments Ltd that was founded in 2009.

They are now one of the leading forex broker in terms of daily trading volume. Trading Point of Financial Instruments Ltd is regulated by CySEC & ASIC (Trading Point of Financial Instruments Pty Ltd since 2015), so we consider them to be safe.

They offer the one of the fastest trade execution out of all the forex brokers that we have reviewed, with almost zero re-quotes & zero rejection.

Their fees with their Ultra Low Account is one of the lowest of all the brokers that we have compared. And they even have negative balance protection.

XM has both web & mobile trading, available on MT4 & MT5 platforms. Plus, they have wide range of trading instruments including currencies, Cryptos & CFDs.

Their trading environment is quite good.

Their support is also really fast in resolving issues, especially their live chat which also available during the week.

10 Best South African Forex Brokers

Another plus, is that they don’t charge any fees on deposits & withdrawals.

XM Pros

  • XM is regulated with FCA (UK), CySEC & ASIC.
  • Very low average EUR/USD spread of 0.8 pips with Ultra Low Account.
  • Quick order execution & zero Re-quotes.
  • Negative Balance protection
  • Zero fees on deposits & withdrawals.
  • Fast & knowledgeable live chat support.

XM Cons

  • XM is not yet regulated with FSCA, but they have an application under “processing status” with FSP number: 47346.
  • XM does not have a South African phone number for support.
also read our detailed XM broker review


Exness – Low spread & instant withdrawal options

Exness was founded in 2008 & they are now one of the largest broker globally in terms of daily trading volume. They are highly regulated with FCA, CySEC so we consider trading with them to be safe for South African traders.

Their spread is extremely competitive, on average it is 1.1 pips for EUR/USD even with their Mini account, and it is as low as 0 pips with their ECN account.

We found them to be one of the lowest spread broker.

Exness offers the latest MT5 platform also, which we consider to be a pro.

Moreover, they have really good account offerings including standard accounts & even ECN accounts.

Their funding & withdrawal methods are very convenient for South African traders. They even have local bank transfer option, and some instant withdrawal methods. They is one of its kind.

We really like their customer support. Exness’s chat is available 24 hours for 5 days in a week, and they are really knowledgeable, friendly & quick in answering all questions.

But they don’t have a local phone number in South Africa.

Exness Pros

  • Exness is FCA (UK) regulated broker so trading with them is safe.
  • They have very competitive spread even with their Mini accounts (on average 1.2 pips for EUR/USD). It is almost zero pips with ECN accounts.
  • No fees on deposit or withdrawals. Plus they have local bank transfer, and even instant withdrawal methods.
  • Exness offers the latest MT5 platform with their Mini & Classic accounts.
  • Their support is really good & available 24 hours for 5 days in a trading week.

Exness Cons

  • Exness is not regulated with FSCA, and this may be a bad thing for you if you are looking for only South African regulated brokers.
  • Limited trading instruments i.e.

    only Forex, cryptos & metals. Other brokers also offer indices & stocks

  • Exness does not have any bonus offers for South African traders.

read our in-depth Exness review


Avatrade – Fixed spread forex broker

Avatrade is an European forex broker that was founded in 2006. They are regulated with FSCA since 2015 under the company name ‘Ava Capital Markets Pty Ltd’.

In terms of fees, Avatrade’s trading fees & non-trading charges are higher than other brokers that we have compared.

They offer fixed spread accounts, with EUR/USD spread being 0.9 pips (on average) with Retail account. But they charge an inactivity fees (for non-trading for 3 months) of $50, and an Administration fee of $100 for 12 months of inactivity in an account.

Avatrade offer MT4, MT5 platforms for web & mobile, along with their proprietary app. Like all the other brokers, they offer Forex, Cryptocurreinces, Stocks & bond trading.

Their deposit and withdrawal options include credit cards, wire transfer, and wallets. On the plus side, they don’t charge any fees on deposits & withdrawals.

Avatrade’s customer support is not the best, as their phone & chat support is not available 24/5.

It is only available during the company’s business hours.

Avatrade Pros

  • Avatrade is regulated with FSCA (FSP Number: 45984).
  • Zero deposit fees & quick withdrawals.
  • Local South African phone number for support (only during company’s business hours).

Avatrade Cons

  • Higher spreads than other South African forex brokers in our list.
  • Inactivity fees of $50, if the account is not used for 3 consecutive months.
  • Live Chat & phone Support is not available 24/5.

read our in-depth Avatrade review


FXTM – FSCA regulated broker with Instant execution

FXTM was founded in 2011 & it got regulated with South Africa’s FSCA in 2016. We consider them to be safe since they are regulated with multiple top-tier regulators globally.

They offer competitive spread for majors including EUR/USD (0.4 pips + commissions per lot) with their ECN MT5 account.

But the spread is quite high with their Standard accounts (2.4 pips with Micro account & 2.0 pips with Standard account).

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In terms of their trading fees, we recommend them for ECN accounts only.

They have wide range of trading instruments, 57 major, minor & exotic currency pairs, Cyrptocurrencies, CFDs, as well as stocks. The trading platforms offered by FXTM are MetaTrader 4 & 5, with mobile trading app compatible with Android and iOS.

They have very convenient funding methods with zero fees on deposits.

But they offer some fees on withdrawals, but the withdrawals are quick.

Top South African Forex Brokers - 2020

Their customer support is very active, with quick & knowledgeable live chat available 24*5. Besides this, they provide free education to new traders in the form of webinars, articles & seminars.


  • Regulated with FSCA & FCA.
  • Low spread with ECN MT5 Account. The average EUR/USD spread is 0.4 pips.
  • Zero deposit fees & quick withdrawals.
  • Wide range of trading instruments available.
  • Live Chat Support is responsive & available 24/5.


  • FXTM charges EUR30 fees on Withdrawals via wire transfer, upto $3 fees on credit card withdrawals.
  • Very high spread with Standard accounts.

    The lowest average spread for EUR/USD is around 2 pips.

read our in-depth FXTM review

6. FXCM – Good Overall FSCA Regulated broker

FXCM was founded in 1999. We consider them to be safe as they are regulated with FSCA since 2016, with FCA (UK), and with ASIC in Australia.

In terms of fees, FXCM only charges variable spread for every trade. Their typical EUR/USD spread is 1.2, which is highly competitive when compared with other South African regulated brokers.

Plus, they charge $50 inactivity fees, if you don’t operate the account for 1 year.

FXCM offers MetaTrader 4 (MT4), Ninjatrader, ZuluTrade, and their own propitiatory Trading station platforms. Their Metatrader platform has support for desktop, web & mobile. But they don’t offer the MT5 version yet. Their trading instruments are limited to forex, commodities & cryptocurrencies.

They offer wide deposit and withdrawal options: credit/debit cards, bank wire transfer, and wallets (Skrill & Neteller).

They don’t charge any fees on deposits, but they charge $40 fees on withdrawals via bank wire. Credit card withdrawals are free with no fees.

FXCM has local phone support & office in South Africa. But we found their Live chat support to be slow in answering questions.


  • FXCM is regulated with FSCA (FSP Number: 46534).
  • Tight spread of 1.2 pips for EUR/USD
  • $20 Welcome deposit bonus available for South Africans
  • Local phone number & office in South Africa.


  • MT5 trading platform is not available at FXCM.
  • Limited trading instruments.
  • $50 Inactivity fees, if you don’t operate the account for 1 year.
  • Live Chat support is not very good.

read our in-depth FXCM review


FxPro – FSCA Regulated broker

Fxpro was founded in 2006, and they are a regulated forex broker. This makes them a safe broker for traders & they also offer Rand accounts with ZAR base currency.

They have competitive spread of 1.5 pips for EUR/USD with their Metatrader accounts, and as 0.4 pips (plus $4.5 commission per standard lot) with their cTrader account.

Their accounts have many features including negative balance protection, ZAR base currency, choice between instant order execution or market execution based on account types, and lots more.

Another good thing is that FxPro doesn’t charge any fees on funding or on withdrawals.

How to Choose a Forex Broker as a South African trader

Plus, their chat support is very good as well. But they don’t have any local phone number in South Africa.

FxPro Pros

  • FxPro is a safe broker for South Africans as they are regulated with FSCA & also with FCA(UK).
  • Their spread is quite low with cTrader account, and it is also competitive with MT accounts.
  • Funding & withdrawals are free without any extra charges.
  • The Live chat support at FxPro is very friendly & quick.

    Plus they have bot chat for quick answers to most frequent questions.

FxPro Cons

  • The minimum deposit required is $500.
  • No South African phone number, but you can call them on their international number or request a callback.

read our in-depth FxPro review


Tickmill – NDD Forex Broker

Tickmill was established in 2014, and we consider them to be a safe broker as they are regulated with top tier regulators i.e. FCA(UK) & CySEC(Cyprus).

Tickmill have average spread, starting from 1.6 pips for EUR/USD with Classic account & 0.4 pips with their Razor account. Their spread is one of the lowest with Pro account.

Also, Tickmill doesn’t charge any fees on deposits or withdrawals.

Their platforms are very limited as they only offer MT4 & Webtrader platforms (their platforms have support for multi devices). Their currency offering is wide, but their trading instruments are limited to FX, CFDs on stock indices, CFDs on gold & silver. They don’t offer trading on Cryptocurrencies, and their CFDs are also very limited.

Another bad side is that Tickmill doesn’t have any local phone support in South Africa.

However, their chat support & email support is available from Monday to Friday from 7AM – 10PM (GMT).

Tickmill Pros

  • Tickmill is a regulated broker i.e.

    Recommended forex trading brokers in africa

    with Tier 1 regulator FCA.

  • Low commission & spread with Pro account.
  • No fees on deposit & withdrawal.
  • 62 major & minor currency pairs available for trading.

Tickmill Cons

  • They are not regulated with FSCA yet. Their application (FSP no.

    49464) status is processing.

  • Limited trading instruments, like unavailability of cryptocurrency trading.
  • No local phone support, and their Live chat support has few minutes of hold time before the agent connects.

read our in-depth Tickmill review

How we selected the best Forex Brokers in South Africa


Safety First: Regulatory Compliance is must

Regulation matters because it ensures the safety of your funds & protects you in case of any bad practice like fraud or manipulation by the broker.

Any good broker will be compliant with major Regulators & will not have complaints (in the past) against them.

For South African traders, every forex broker that we have listed here are compliant with 1 or more Government regulators i.e.

FSCA (South Africa), FCA (UK), ASIC (Australia) or CySEC.

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If the broker is regulated & registered with any or most of these Regulatory authorities (without any complaint against them) then we consider them to be safe for trading.

For this, you should search for your broker’s name or their regulation number, on search on Regulator’s (FSCA, FCA or ASIC) websites, as most of them have public search available.

Below example is the image of what FSCA’s FAIS Financial Service provider search interface looks like.

So next time before choosing any broker, properly do your research if the broker is regulated or not.

If it’s regulated, then it’s also best to search the name of the broker on the websites of the Regulatory authorities: (FSCA’s website) & (FCA’s website) to see if there is any complaints against the broker that you are about to choose.

If the broker that you are about to trade with is not regulated or has a valid complaint against it, then its best to stay away from that broker.

Also as another rule, never choose a broker that is not regulated with atleast 1 top regulator i.e.

Best Forex Brokers in South Africa


2. Forex Broker’s Fees

Forex brokers charge fees through their spreads, commissions on trades (in some cases) & rollover (for overnight open positions). Some brokers also charge extra fees during deposits & withdrawals, but don’t actually show it as their fees.

Tracking the fees charged by a broker & then comparing it with other brokers is not easy, but we are here to help you with this.

Here’s a breakdown of the 4 types of fees forex brokers charge:

  1. Spread: This is the difference between the ask & the bid price.

    Its the most common fees charged by forex brokers. The lower the spread of a broker, the better it is for you.

    Before signing up with any broker, you should look for the broker’s contract specification page as it normally has information on their spread. Like below is the screenshot from the XM’s forex spread overview page.

  2. Commissions (for ECN Account): Most ECN brokers will give you market spread (which are often very low), but will instead charge you commissions (for both opening & closing the position) based on your trading amount & volume.

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    If you are a high volume trader, then the fees structure with ECN accounts will be more transparent & have lower trading costs for you.

  3. Rollover Fees: Forex brokers charge small fees if you want to keep a position open overnight. This fees is called the Rollover fees or Swap rates. This fees depend on your broker & the currency pair that you are trading.
  4. Deposit/Withdrawal fees: Many brokers also charge payment gateway fees & processing fees on deposits/withdrawals.

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    For example: Etoro charges $25 processing fees for every withdrawal, but XM Forex on the other hand has zero fees on deposits/withdrawals(depending on your amount).

To save your time, we have already calculated & compared the fees of all the brokers for you in our comparison.

In the table below, we have compared the typical spread (in pips) of our 4 top rated forex brokers for their standard accounts:

Currency PairHotforex (Premium Account)XM Trading (Ultra Low Account)ExnessFXTM (Standard account)

Note: All 4 brokers offer variable spread so the actual spread may be higher than the value listed in the above comparison table.

The actual live spread will fluctuate based on the market conditions.

Based on our comparison of the standard accounts offered by different brokers, typically XM broker & Exness had the lowest spread for most currency pairs. Also overall, Hotforex had very competitive spread for most FX instruments with Premium account. All 4 brokers listed in above comparison table have variable spread, so it may be lower or higher than their typical spread based on the actual Live market conditions.

For ECN brokers, Hotforex is very competitive with their spread.

In general, Hotforex has much lower spread (plus $7 commission per 1 lot) with Zero account. FXTM also has really tight spread & low commissions with their MT5 ECN account.


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Trade Execution Speed Matters

Another factor to consider is if the broker offers quick execution speed. Fast execution eliminates slippage & re-quotes.

If you are a trader that opens/closes many positions daily, then it should be even more important for you to opt for a broker with the best trade execution speed.

But, there is no method to test the execution speed other than actually placing trades on the broker’s live platform. Some brokers will offer good execution on demo, but won’t offer the same speed during live trading. So if you are about to choose a broker then, you should actually their live platform trading conditions with minimum funding & low position size.

During our trading execution tests, 2 brokers XM Forex & FXTM had the best market execution (as both offer instant execution in most cases).

Most of the good brokers have a page on their website regarding their execution policy.

You should check the broker’s execution policy, and look for terms like no re-quotes, real-time execution etc.

4. Ease & Fees on Deposits and Withdrawals

Adding funds & making withdrawals with a broker should be fast & easy.

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You would agree, right?

Most brokers transparently show their funding/withdrawal time & methods on their websites. You should always check that first & compare which methods suit you.

You should also carefully look into the withdrawal fees, because some brokers offer zero fees on deposits but charge high fees during withdrawals.

Some brokers like Exness even offer local bank transfer deposit & withdrawal options in South Africa.

If you prefer local bank deposits, then we recommend Exness. But if you prefer card & other wallet methods, then XM & Hotforex are very good as well.

Overall, we find XM & Exness to offer the fastest deposit & withdrawals and both charge zero fees on funding & even on withdrawals.

FXTM is also quick in processing payments, but they lack in the fees as they charge “Fees/Commission” with most of the withdrawal methods that are suitable for South Africans.

5. Is the broker’s Customer Support good?

The forex broker’s customer support is a really important factor in our comparison. We tracked the support of every broker that we have listed here.

We especially liked XM’s support as they are quite responsive & knowledgeable.

A good broker would offer 24 hours support during the week via Live Chat, local phone number & Email.

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But not all brokers offer 24/7 support. For ex: Avatrade offers customer support during their business hours only, so there may be high waiting time with them for support related issues.

Overall, we found XM, Hotforex & FXTM had the best support. All these 3 brokers had quick chat support that is available 24/5 & are very quick in answering most queries.

Summary: best forex brokers in South Africa

Forex BrokerRegulationSpread (EUR/USD)LeverageAccount minimumForex Trading Platform(s)Start Trading
HotforexFSCA (South Africa), FCA, CySECAs low as 0.3 pips with Zero Accountup to 1:1000$5 (~R76)MT4 & MT5 for web, mobile devices,get started
XM TradingFCA (UK), ASIC (Australia), CySEC0.8 pips with XM’s Ultra Low Account1:888$5 (~R76)MetaTrader 4, MetaTrader 5 for web & mobileget started
ExnessFCA, CySECOn Average 1.1 pips even with Mini Accountup to 1:2000$1MT4 & MT5 for web, mobile devices,get started
FXTMFSCA, FCA, Cysec0.4 pips(plus $0.4 fees per 10,000 units) with ECN.

And on average 2.2 pips with Standard accounts

1:1000$10MetaTrader 4, MetaTrader 5, Webtrader, iOS, Android appsget started
AvatradeFSCA, Bank of Ireland, ASIC (Australia)Fixed 1.3 pips1:1000$100MetaTrader 4 for web & mobileget started
FXCMFSCA, FCA, ASICN/A1:400$50MT4, Ninjatrader & Zulutrader.get started
FxProFSCA, FCAFloating, on average 1.5 pips with MT accounts.

And 0.4 pips (plus $0.45 fees per 10,000 units traded) with cTrader account.

1:500$500MT4, MT5, cTrader.get started
TickmillFCA, ASIC, FSCA(currently pending)Floating spread, from 1.6 pips with Classic account. And spread from 0.2 pips (plus $4 commission per 100,000 units) with Pro account.1:500$200MT4, MT5, cTrader.get started

Frequently asked questions

Which is the best forex broker for beginners?

As a beginner in Forex Trading, you must look for brokers that offer demo account, are regulated, and also offer good education material.

We have done research on 30+ brokers operating in SA, here are our top picks:

  1. Best overall broker for beginners: Hotforex Premium Account
  2. Best low spread broker: XM Trading Ultra Low Account
  3. Best ECN/STP broker: FXTM ECN Pro account

How should you choose a forex broker?

Ultimately this depends on your trading requirements, like the currency pair that you want to trade, your deposit methods, leverage requirements, if you require a raw spread ECN account broker etc.

However, there are some general guidelines that you should check before depositing your money with any broker.

Always choose a broker that is regulated with top tier regulators like FCSA, FCA or ASIC. Another thing that matters is the spread, the lower the better.

Also, check if your desired broker offers a platform of your choice.

The Best Forex Brokers in Africa

Most traders prefer MT4 & MT5, so you should see if your broker offers these 2 platforms. Plus, some other consideration are customizable leverage between (1:10 to 1:50), various trading platforms options on mobile & web, 24/5 responsive Support and easy deposit & withdrawals.

If your broker offers ZAR account, then it is a positive thing.

How can you check if your broker is regulated or not?

For a start, you must only choose a broker that is regulated with a top tier regulator. Not every regulation is the same, as many brokers claimed to be regulated by regulating with some Offshore regulators to avoid compliance.

So you should check with your broker, if they are regulated with respected regulations like: FCA, FSCA, CySEC or ASIC.

You can find the regulation information on a broker’s website. Almost all brokers add this information at the bottom section on their websites or their about pages.

Further, all regulators like FCA, FSCA also have a public search on their website to check broker’s regulation & license number.

Moreover, all the brokers that we have reviewed on our website are regulated with top regulators. Also, we have given links to their registration number in our reviews.

Which forex brokers are regulated with FSCA?

There are around 1000+ FSCA regulated entities dealing in FX & other derivative instruments.

To make your search simple, we have checked & found that Hotforex, ForexTime and Avatrade performed best in our ranking parameters & user reviews.

If you want one broker with low spread & FSCA regulation, then Hotforex is our recommendation with spread of almost 1.2 pips for EUR/USD in their premium account.

Overall Rating 9.1/10

Visit Hotforex
  • Spread (EUR/USD benchmark): On average 0.3 pipswith Zero Account.

    Around 1.2 pips with Premium account.

  • Minimum deposit: $5 (~R76)
  • Regulation: FSCA (South Africa), FCA (UK) & CySEC
  • Bonus: 100% Deposit Bonus for new accounts (Over $250 deposit required) 
Ranked #1 Forex Broker in South Africa

Hotforex is our recommend choice for low cost forex broker in South Africa.

We consider them to be safe as they are regulated in South Africa with FSCA (FSP No 46632) since 2016 & with FCA in UK (HF Markets (UK) Limited with Reference number: 801701) since 2019.

They offer one of the lowest trading fees among the regulated brokers that we have compared & listed so far.

Overall Rating 8.9/10

Visit XM broker
  • Spread (EUR/USD Benchmark): On average 0.8 Pips with Ultra Low Account
  • Minimum deposit: $5
  • Regulation: CySEC (Cyprus), ASIC (Australia) & IFSC
  • Bonus: 50% Welcome bonus up to $500 and 20% bonus for up to $5,000.
Ranked #2 Forex Broker in South Africa

XM Trading is another good forex broker for South African traders.

They are not regulated with FSCA, but they have international regulations with ASIC (Australia), CySEC (Cyprus) & IFSC.

We like their fast order execution, low spread with Ultra Low Account and zero fees on deposits/withdrawals. We highly recommend them to new traders.

Overall Rating 8.8/10

Visit Exness
  • Spread (EUR/USD benchmark): 1.1 pips on averagewith Mini Account
  • Minimum deposit: $1
  • Regulation: FCA (UK) & CySEC
  • Bonus: No bonus offer currently
Ranked #3 Forex Broker in South Africa

Exness is our 3rd ranked forex broker for South Africans.

They are FCA regulated so we find them to be very safe, but on the downside they are not regulated with FSCA. We like them because they offer really low spread, good support & instant withdrawal methods.

Overall Rating 8.5/10

Visit Avatrade
  • Spread (EUR/USD benchmark): Around 0.9 pipsper trade
  • Minimum deposit: $100
  • Regulation: FSCA & ASIC
  • Bonus: 20% Deposit Bonus for first time deposits (Minimum $1000 Required)
Ranked #4 Forex Broker in South Africa

Avatrade is a European brokers that is also regulated with FSCA in South Africa.

We recommend them to traders looking to trade forex & CFDs at fixed spread through a regulated broker.

Overall Rating 8.5/10

Visit FXTM
  • Spread (EUR/USD benchmark): 0.4 pips on averagewith ECN MT5 Account.

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    2.4 pips with Standard account.

  • Minimum deposit: $10
  • Regulation: FSCA. FCA & CySEC
  • Bonus: There is no bonus available at FXTM currently.
Ranked #5 Forex Broker in South Africa

FXTM is our #4 forex broker in South Africa. They are regulated with FSCA, FCA & CySEC, so we consider them to be safe.

Plus, they offer instant order execution with Standard accounts & very good support.

Overall Rating 8.0/10

Visit FXCM
  • Spread (EUR/USD benchmark): Average 1.2 pipsper trade
  • Minimum deposit: $500
  • Regulation: FSCA, FCA & ASIC
  • Bonus: $20 Welcome Bonus for first deposits
Ranked #6 Forex Broker in South Africa

FXCM is a UK based broker that is also regulated with FSCA in South Africa as FXCM South Africa (PTY) LTD with FSP number 46534.

Find the best Forex Broker for you & Start trading instantly!

They are one of the oldest regulated broker, so we recommend them.

Overall Rating 8.0/10

Visit FxPro
  • Spread (EUR/USD benchmark): On average 1.5 pips with MT5 account.
  • Minimum deposit: $500
  • Regulation: FSCA & FCA(UK)
  • Bonus: No bonus
Ranked #7 Forex Broker in South Africa

FxPro is a UK based forex broker that is also regulated with FSCA in South Africa since 2015.

They are a safe broker as they are regulated with top regulatory authorities locally & globally.

Overall Rating 8.0/10

Visit Tickmill
  • Spread (EUR/USD benchmark): 1.6 pipsper trade with Classic Account.
  • Minimum deposit: $100
  • Regulation: FCA & CySEC
  • Bonus: No bonus available
Ranked #8 Forex Broker in South Africa

Tickmill is a No Dealing Desk (NDD) broker that is regulated with FCA & CySEC.

Their regulation with South African regulator FSCA is currently under processing status.