The Best Regulated Forex Brokers in South Africa

If you are a South African resident or citizen and interested in trading the forex market, it is highly advisable to open an account with a forex broker who is regulated by the Financial Services Board (FSB) which will give you the best level of confidence that your broker is under strict guidelines for operating in South Africa.

South African Forex Broker Rankings

The following table presents all forex brokers in our database who have the appropriate license from the FSB. Note that other well known brokers may be perfectly safe to trade with but do not hold a FSB license. It is up to you if you decide that you want to trade with a forex broker who is unregulated in your country.

Top 10 Forex Brokers in South Africa for 2023

Broker	Deposit*	Leverage*	Platforms	Assets	Regulation	Visit
XM 5/5	Min. Deposit: $5	Max. Leverage: 1:1000	Trading Platforms: MT4 MT5	Assets: FX Crypto Stock	Regulation: CySEC ASIC DFSA	Visit XM XM review
XTB 4.7/5	Min. Deposit: -	Max. Leverage: 1:500	Trading Platforms: xStation 5 xStation Mobile	Assets: Forex Indices Commodities Shares Cryptocurrencies	Regulation: FCA CySEC CNMV	Visit XTB XTB review
Eightcap 4.55/5	Min. Deposit: $100	Max. Leverage: 1:500	Trading Platforms: MT4 MT5	Assets: Forex Indices Commodities Shares Cryptocurrencies	Regulation: ASIC VFSC	Visit Eightcap Coming soon
AvaTrade 4.4/5	Min. Deposit: $200	Max. Leverage: 1:400	Trading Platforms: MT4 MT5 AVATrade Go	Assets: Commodities Options Indices	Regulation: CBI CySec ASIC	Visit AvaTrade AvaTrade review
eToro 4.25/5	Min. Deposit: from $10	Max. Leverage: 1:30	Trading Platforms: eToro Multi-Asset	Assets: Commodities Indices ETFs	Regulation: CySEC FCA ASIC	Visit eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. eToro review
Pepperstone 4.1/5	Min. Deposit: $200	Max. Leverage: 1:500	Trading Platforms: cTrader MT4 MT5	Assets: Indices Crypto Equities	Regulation: FCA ASIC DFSA	Visit Pepperstone Pepperstone review
PrimeBit 3.95/5	Min. Deposit: -	Max. Leverage: 1:200	Trading Platforms: Proprietary web platform PrimeBit platform MetaTrader	Assets: Crypto Stocks Indexes Commodities	Regulation: No Regulation	Visit PrimeBit Coming soon
Bubinga 3.8/5	Min. Deposit: $5	Max. Leverage: -	Trading Platforms: Proprietary web platform	Assets: Forex Commodities Indices Stocks Cryptocurrencies	Regulation: No Regulation	Visit Bubinga Coming soon

The main downside is that if you have any trouble, you will need to get in touch with the body with whom your forex brokerage is regulated by.

Additional resource for South Africans

Award winning finance journalist and author, Maya Fisher-French has an excellent personal website where she discusses all money matters. You can visit her website at mayaonmoney.co.za