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 2024

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
Pepperstone
4.25/5
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
4.1/5
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
3.95/5
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


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