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.

Best Forex Brokers in South Africa for 2021

Broker Bonus Deposit* Leverage* Regulation Visit
XM
5/5
Bonus: 15% up to $500 Min. Deposit: $200 Max. Leverage: 1:30 | 1:200 Regulation:
  • IFSC
  • ASIC
  • CySec
Visit XM XM review
FBS
4.5/5
Bonus: 100% up to No limit Min. Deposit: - Max. Leverage: 1:1,000 Regulation:
  • IFSC
  • CySec
Visit FBS FBS review
HYCM
4.25/5
Bonus: 10% up to $5000 Min. Deposit: $100 Max. Leverage: 1:20 | 1:500 Regulation:
  • FCA
  • CySec
Visit HYCM HYCM review
AvaTrade
4/5
Bonus: 20% up to $10,000 Min. Deposit: $100 Max. Leverage: 1:20 | 1:400 Regulation:
  • ASIC
  • CySec
  • FSCA
Visit AvaTrade AvaTrade review

The main downside is that if you have any trouble, you will need to get in touch with the body with whom your broker 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


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