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Best Forex Brokers In South Africa - Highly Recommended And Trusted Broker

With so many forex brokers operating their business in South Africa, it can be quite tricky to select the best one for your forex trading needs. The best forex brokers in South Africa are the ones that take into the consideration all the trading needs of yours and are able to provide them without any hassle. While a few of these brokers provide you a lot of options with regards to trading platforms, others provide you multiple trading account types and so on.

Our aim has been to provide you with a list that includes some of the best forex brokers in South Africa so that you can trade as you wish and that you’re able to have peace of mind knowing that your trade interests are well protected at all costs!



1.XM
Opening a forex trading account with XM is what you need to get started with the forex markets, CFDs, and commodities. Trading with different instruments using XM is easy and safe as it is a registered and licensed broker and is regulated by a number of financial bodies across the world.









Pros:


  • One of the major trading platforms that XM offers to its traders is Metatrader 4. This trading platform comes packed with a whole lot of trading features and tools that you can use to better your trading chances.
  • Opening an account with XM is easy. Just make an initial deposit of $5 and you’re good to start trading.


regulated by : Cysec, CNMV, FCA, Bafin, FSP,  FCA (UK)

Minimun deposit: $5
minimun trade size: 0.0001 lot
maximun leverage: 1:888
spread type: Fixed
platforms : Metatrader 4
payment options: wire transfer, credit and debit cards, paypal, skrill
offices in: cyprus

founded : 2009


2. Hotforex


100% SuperCharged BonusHotForex is an up and coming online forex broker based in Mauritius. The best part of trading with HotForex is that you get a wide choice of trading platforms and trading accounts. So, it doesn’t matter what your trading needs are; you can find them all with HotForex.

Pros:




  • Forex trading with HotForex is easy and hassle-free. In fact, you don’t need any installation or downloads. Having the access to the internet is a must, though.
  • HotForex provides so many deposit and withdrawal options that you’ll feel safe in trading with them.



Regulated by : Cysec, FSC (mauritius)
Minimun deposit: $5
minimun trade size: 0.01 lot
maximun leverage: 1:1000
spread type: Variable
platforms : MT4, HotForex Droid, WebTrader, HotForex FIX/API, Trading mobile and ipad
payment options: neteller, cashU, Ukash, skrill, webmoney, wire transfer, credit and debit cards, Unionpay
offices in: 2010
founded : Mauritius




3. Markets.com

Markets.com is a popular online forex broker that is MiFID compliant and is regulated by CySEC. A multiple awards winning broker, Markets.com makes it fun and easy to trade with forex.

Pros:



  • Markets.com offers different types of trading accounts including Classic, Standard, and Premium. Each of these trading accounts has unique features to cater to your trading needs.
  • While the website of Markets.com is accessible in more than 20 languages, the customer support services are equally good and reliable and are available to you 24/5.


regulated by : CySEC, ASIC, FSCA

Minimun deposit: $100
minimun trade size: 0.01 lot
maximun leverage: 1:200
spread type: Fixed
platforms : Metatrader 4, Mobile markets trader
payment options: skrill, webmoney, wire transfer, credit and debit cards
offices in: cyprus
founded : 2006

4. Easy forex

Easy-markets is one of those well-rounded dealers you’ll find today that will let you take advantage of world’s markets. With easy-markets, you can trade not just in forex but also commodities.
Pros:
  • The Metatrader platform that easy-markets uses are reliable as well as well-known.

  • With just $25 you can open an account with easy-markets and start trading.


regulated by : ASIC, CySEC

Minimun deposit: $25
minimun trade size: 0.05 lot
maximun leverage: 1:400
spread type: Fixed
platforms : web trading, metatrader 4, Trade desk
payment options: skrill, credit and debit cards, wire transfer
offices in: cyprus, United kingdom, australia
founded : 2003


6. Avatrade
One of the pioneers in the forex trading industry, AvaTrade offers more than just forex opportunities to its traders. In fact, with AvaTrade, you can trade with commodities, stocks, and indices.

Pros:



  • The auto-trading software of AvaTrade is quite flexible and helps you make the most of the market conditions.
  • AvaTrade is excellent when it comes to providing market analysis, real-time charts, audio commentary and news feeds.


regulated by : ASIC, central bank of ireland, financial futures association japan

Minimun deposit: $1
minimun trade size: 0.01 lot
maximun leverage: 1:400
spread type: Variable
platforms : Metatrader 4, avatarder
payment options: paypal, neteller, skrill, wire transfer, credit and debit cards
offices in: italy , japan, australia, germany, ireland, france

founded : 2006


7. Ironfx

IronFX is a global forex player that allows users to trade stocks and futures, spot metals, besides forex. With over 1,600 employees on its rolls, IronFX has offices spread across more than 180 countries.
Pros:


  • Trading with IronFX is absolutely safe and secure as it is regulated and authorized by ASIC, FCA, CRFIN, FSP, and CySEC.
  • IronFX’s services are backed by a strong customer support team and support lots of languages including English, Chinese, Italian, Arabic, Portuguese, and others.



regulated by : ASIC, CySEC, CRIN, FCA (UK), FSP

Minimun deposit: $500
minimun trade size: 0.01 lot
maximun leverage: 1:500
spread type: Fixed
platforms :  metatrader 4, Metatrader 5,  iphone/ipad, web and mobile trading
payment options: skrill, credit and debit cards, wire transfer, Neteller, Webmoney
offices in: cyprus, United kingdom, australia, poland , more
founded : 2010

8. Exness

This Russian online forex broker was established in 2008 and has since then made rapid progress in the market to become one of the leading players today.
Pros:
You can trade using Exness on any platform and on different devices like iPhone, Windows Mobile, iPad, Android devices, and Blackberry.
Exness doesn’t charge you any commission for trading through them. Instead, it makes its money through spreads that are among the lowest in the industry.


regulated by: Cysec, FCA, IFSA
Minimun deposit: $1
minimun trade size: 0.01 lot
maximun leverage: 1:2000
spread type: Varibale
platforms : MetaTrader 4, Metatrader 5
payment options: skrill, perfect money, wire transfer, credit and debit cards
offices in: Cyprus and St Vincent And Grenadines

founded : 2008

9. OCTAFX

Octafx is a forex broker that provides services of trading quality, octafx uses technology the more a day and most of the knowledge to make your trading experience remarkably convenient. Octafx has designed sets out the standards of service level higher and as well as constantly develops new services and promotions.
Octafx offer the famous trading Metatrader 4 platform as trading platform, offers low spreads from 0.2 pips on EUR/USD has STP/ECN trading in Metatrader 4 trading platform.

regulated by : IFSA

Minimun deposit: $5
minimun trade size: 0.01 lot
maximun leverage: 1:500
spread type: Varibale
platforms : MetaTrader 4
payment options: skrill, perfect money, wire transfer, credit and debit cards
offices in: saint vincent and the grenadines
founded : 2011

Comments

RISK:

*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.*