If you're interested in trading forex in South Africa, it's important to choose a reputable and reliable broker. With so many options available, it can be overwhelming to make a decision. That's why we've compiled a list of the best forex brokers in South Africa for 2024, complete with key features and benefits to help you make an informed choice.
Best Forex Brokers South Africa
To find the best forex brokers in South Africa, we created a list of all brokers that accept new akaụntụ from South African traders and ranked them by their Overall ranking, calculated during our in-depth annual review of forex brokers.
Here is our list of the top 5 best forex brokers in South Africa:
- XM– Best for Zar account with minimum deposit.
- HFM – Low-cost forex broker with local regulation
- Asụsụ Deriv -Best broker for trading synthetic indices like Boom & Crash
- Exness – Popular local broker with low fees and Zar account
- FBS – Good Option for beginners
1. XM
XM Group is a popular forex broker in South Africa, offering a range of trading instruments including forex, stocks, commodities, and cryptocurrencies.
They are regulated by multiple authorities including the Financial Sector Conduct Authority (FSCA) and offer competitive spreads and low fees. XM Group also offers a range of educational resources and market analysis to help traders make informed decisions.
With a user-friendly interface and excellent customer support, XM Group is a top choice for forex trading in South Africa.
XM na nlele
| 🔎Aha Broker | Otu XM |
| 🏡 Headquarters | UK |
| 📆 Year Founded | 2009 |
| ⚖ Ndị ọchịchị na-achị achị | FCA, IFSC, CySec, ASIC |
| 🧾akaụntụ Ụdị | Akaụntụ Micro; Akaụntụ ọkọlọtọ; Akaụntụ dị ala Ultra; Akaụntụ mbak |
| 🎁 Bonus | Ee, $30 |
| 💸 Fees | Low |
| 💸 Spreads | na-agbasa site na 0.6 ruo 1.7 pips |
| 💸 Commission | ahia na-enweghị ọrụ dabere na akaụntụ ahọpụtara |
| 🏋🏾♀️ Maximum Leverage | 1:1000 |
| 💳 Nkwụnye ego kacha nta | $5/ R70 |
| 💳 Nhọrọ nkwụnye ego & mwepụ | Nyefee Bank Nnyefe ego mpaghara Ebe E Si Nweta / kaadị Debit Neteller Skrill na ndị ọzọ. |
| 🖥 nyiwe | MT4 na MT5 |
| 🧾 Zar Account | Ee |
| 📊 Tradable assets offered | Forex, ngwa ahịa, cryptocurrency, mbak, indices, ọla, ike, nhọrọ, agbụ, CFDs, na ETFs. |
| 🗣 Customer Support & Website Languages | 23 Asụsụ |
| 🕑 Customer Service Hours | 24/5 |
| 🚀 Mepee Akaụntụ | ???? Pịa ebe a |
XM Pros & Cons
✅Uru
- Ngwongwo azụmaahịa dị ukwuu
- Obere nkwụnye ego kacha nta
- Zar base account
- onye na-ere ahịa na-achịkwa nke ọma na ntụkwasị obi
- Dependable support in various languages
- Mgbasa siri ike dị
❌ Cons
- a small number of tradeable cryptocurrencies
- Mgbasa abawanyela na akaụntụ Micro na Standard
- XM does not have a South African phone number for support.
2. HFM (Formerly Hotforex)
HFM is an award-winning, well-regulated Forex, Indices, Stocks and commodities global broker headquartered in the UK. The broker boasts over 3,5 million accounts opened by happy clients and has won over 25 industry awards.
HotForex (HFM) is our recommended choice for a 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.
In terms of trading fees, HotForex has the lowest spread with their Zero account & there are no fees on deposits/withdrawals.
HFM At A Glance
| 🔎 Broker's Name | HFM (nke bụbu Hotforex) |
| ⚖ Iwu | CySEC, FCA, DFSA, FSCA, FSA |
| 📆 Year Founded | 2010 |
| 💳 nkwụnye ego kacha nta | $5 USD/ R70 |
| 💹 Types of assets traded | Forex, Ọla, Ike, Shares, Indices, Bonds, Commodities, DMA Stocks, ETFs |
| 🎁 bonuses | Yes, Including $ 50 Ọ dịghị ego ego |
| Zar Account | Ee |
| 💳 Payment methods | Skrill, Neteller, Kaadị Debit, Nyefee Waya, Kaadị kredit, Fasapay, Vload |
| 🧾 Ụdị akaụntụ | narị, Adịchaghị, kwa, Mgbasa efu, Detuo Akaụntụ, Islamic Account |
| 📈A na-akwado ọtụtụ akaụntụ | ✅ Ee |
| ♻ Is PAMM & Copy trader supported? | ✅ Ee |
HFM Pros & Cons
✅Uru
- Locally-regulated
- Obere nkwụnye ego kacha nta
- Zar base account
- A variety of local funding methods
- Zero fees on deposits & withdrawals.
- Ala na-agbasa
❌ Cons
- Wire transfer available at high fees
3. Asụsụ Deriv
Deriv is a very popular broker in South Africa. Most traders choose the broker because it is the only one with Indices sịntetik like boom and crash.
Deriv offers convenient funding methods like Zing pay, Dp2p, Payment agents, Cash etc. This makes it easy for South African traders to move funds in and out of their trading accounts.
On top of that Deriv offers a low minimum deposit requirement making it accessible to traders.
Deriv also offers a number of proprietary trading ngwa ọdịnala that bring convenience to traders
Deriv N'ilekiri
| 🔎 Broker's Name | Deriv Formely (Binary.com) |
| 🏡 Headquartered | USA |
| 📆 Year Founded | 1999 |
| ⚖ Ndị ọchịchị na-achị achị | Edere ya site na ikike ọrụ ego nke Malta (MFSA), Ndị na-ahụ maka ọrụ ego Labuan (LFSA), Vanuatu Financial Services Commission (VFSC) na British Virgin Islands Financial Services Commission (BVIFSC) |
| kacha nta nkwụnye ego | $5 / R70 |
| 🏋🏾♀️ Maximum Leverage | 1:1. |
| 💳 Nhọrọ nkwụnye ego & mwepụ | Nyefe waya ụlọ akụ - Kaadị kredit / debit - Ma Visa na Mastercard - USD/GBP/EUR/AUD. E-wallets - Skrill, Neteller, PaySafe, Fasapay, WebMoney, Cryptocurrency, Bitcoin, Ethereum, Litecoin na Tether. Ndị ọrụ ịkwụ ụgwọ, Dp2p |
| 📊 Tradable assets offered | Forex - nso 50 FX ego ụzọ abụọ, gụnyere majors, obere na exotics Indices ngwaahịa - Kọwaa mmegharị ọnụ ahịa n'ofe ndepụta ngwaahịa US, Eshia na Europe kachasị ukwuu. Indices sịntetik - Dabere na onye na-emepụta ihe na-echekwa echekwabara, indices sịntetik na-emegharị ọnọdụ ahịa ụwa n'ezie ma dị 24/7 na-ebuga mgbanwe na-agbanwe agbanwe. Ngwaahịa - Ọla dị oke ọnụ ahịa, dị ka ọla edo na ọlaọcha, gbakwunyere ike dị ka mmanụ dị |
| 🗣 Oge ọrụ ndị ahịa | 24/7 |
| 🚀 Mepee akaụntụ | ???? Pịa ebe a |
Uru & ọghọm dị
✅Uru
- Wide range of trading assets including synthetic indices
- Obere nkwụnye ego kacha nta
- Well developed platforms
- Onye na-ere ahịa ahaziri nke ọma na ntụkwasị obi
- Availability of 24/7 live chat, phone lines, WhatsApp, and help centre
4. Exness
Exness is an award-winning and well-regulated forex and CFD broker that was founded in 2008. It is headquartered in Cyprus and has offices in several other countries, including, South Africa, Seychelles, Russia, and China.
Exness is a popular broker, with over 10 million registered accounts worldwide including in South Africa.
The broker has low trading fees, offers a Zar account and processes withdrawals instantly.
| Aha Broker | Exness |
| 📅 Afọ tọrọ ntọala | 2008 |
| 🏠 Headquarters | Limassol, Saịprọs |
| ⚖ Regulated By | SFSA (Seychelles), CBCS (Curaçao), FSC (BVI), FSCA (SA), CySEC (Cyprus), FCA (UK) |
| 💳 Nkwụnye ego kacha nta | R180 ZAR / $10 |
| 📉 Zar Base Currency? | ✔ Ee |
| 🧾 Ụdị akaụntụ | Ọkọlọtọ Cent, Ọkọlọtọ, Pro, Raw Spread, Zero. |
| 🎮 Demo Trading Account | ✔Ee |
| 💵 Ụzọ nkwụnye ego na mwepụ | Kaadị kredit/debit, Skrill, Neteller, QIWI, Cryptocurrencies, Nyefee Bank/Waya, |
| 💰 na-agbasa | Mgbasa dabere na ụdị akaụntụ na ngwa. Mgbasa na-ese n'elu mmiri mgbe niile. FTSE gbasaa 1.5 pts (var) GBPUSD gbasaa 2.1 (var) Mgbasa mmanụ 0.05 (var) Ebuka na-agbasa 0.1% Var GBPUSD gbasaa 2.1 pips (var) EURUSD gbasaa 1.6 pips (var) EURGBP gbasaa 2 pips (var) |
| 📉Instruments Offered | Forex (97), Ọla, Ebuka, Indices na ike, Cryptocurrencies (35) |
| 💰 Withdrawal fee | ✔ Ee |
| 💰 Instant withdrawal and deposits | ✔ Yes. Depends on the payment system. This may vary based on the payment provider's processing |
| 💸 Nchekwa nguzozi adịghị mma | ✔ Ee |
| 💻 In-house VPS hosting | ✔ Yes, with $500+ deposits |
| ☪ Islamic Account | ✔ Ee |
| 💵 Inactivity fee charged | ❌ Mba |
| 📱 Platform | MT4, MT5, Exness Terminal, MT4 Multiterminal, Exness Trader ngwa |
| 🚀 Mepee Akaụntụ | ???? Pịa ebe a |
Exness Pros 👍
- Well-regulated in South Africa, United Kingdom, Cyprus, Seychelles & Mauritius
- Mwepụ ozugbo
- Zar account dị
- Accepts local deposit methods
- Ịnweta ụdị akụ azụmaahịa dị iche iche
- Uko na-agbasa
- Wide range of trading instruments (130+ currency pairs)
- Ezigbo nkwado ahịa
- Ngwa mkpanaka
5. FBS
FBS is a popular Forex Broker and CFD trading platform founded back in 2009 by investors interested in trading research and technical analysis. At present, FBS is an international brand and has a presence in over 150 countries worldwide.
The broker brings transparent conditions for trading using popular instruments including Forex, Crypto, and Metals all connected by split-second execution through the ECN model.
FBS At A Glance
| 🔎 Aha Broker | FBS |
| ⚖ Iwu | CySEC, ASIC, IFSC, FSCA, |
| 📆 Afọ tọrọ ntọala | 2009 |
| 💳 nkwụnye ego kacha nta | $1 maka akaụntụ cent, Akaụntụ Micro $5, Akaụntụ Mgbasa efu $500 |
| 💳 Maximum Leverage | 1: 3000 |
| 💹 Akaụntụ Islam? | ✔Ee |
| 🖥Types of assets traded | Forex, ngwa ahịa, nkekọ, mbak, indices, ebuka, CFD, ọla, ike |
| 🚀Supported lot sizes | 0.01 - 500 |
| 💳 Payment methods | Neteller; akwụ ụgwọ; Skrill; zuru okè Money |
| 🧾Are multiple accounts supported | ✔Ee |
| 📈 A na-akwado PAMM | Mba |
| ♻ A na-akwado CopyTrader? | ✔Ee |
| 🚀 Open Account | ???? Pịa ebe a |
FBS Broker Pros & Cons
✅Uru
- Globally recognized with multiple industry awards
- Obere nkwụnye ego kacha nta
- Zar base account
- Range of trading accounts
- Mgbasa siri ike dị
❌ Cons
- Limited funding methods
- Limited trading instruments
- No Zar account
How we chose the best Forex Brokers in South Africa
We looked at the following points when we compared these forex brokers.
ụkpụrụ
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. The forex brokers we chose above are well-regulated and they have a good reputation.
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.
The brokers we chose above have the most competitive fees in the market. This will ensure that you will endure lower trading costs as a forex trader in South Africa.
Nkwụnye ego & Nwepu nhọrọ
We chose the best South African forex brokers that have convenient funding methods. The brokers above make it easy for you to deposit and withdraw without any hassles.
Nkwụnye ego kacha nta
We chose the best brokers with low minimum deposits so that you can test them without depositing a lot of money. You can then deposit more as your confidence in the broker grows.
Frequently Asked Questions on The Best Forex Brokers In South Africa
XM is the best forex broker in South Africa. The broker is well-regulated, has a Zar base account and has low minimum deposits.
Deriv is the most popular broker in South Africa as most traders are looking for synthetic indices like v75.
HFM (nke bụbu Hotforex) is the best MT4 broker in South Africa.
XM is a good broker for beginners in South Africa.
HFM is the broker with the lowest spreads in South Africa.
When choosing a forex broker in South Africa, you should look for factors such as regulation, trading platforms, trading conditions, customer support, and educational resources.
Forex brokers in South Africa offer a range of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and proprietary trading platforms.
Yes, forex brokers in South Africa are regulated by the Financial Sector Conduct Authority (FSCA).
Ozi ndị ọzọ ị nwere ike ịmasị gị
HFM Zero Spread Account: An In-Depth Review 🔎2024
The HFM Zero spread account allows you to trade with no spreads making it one [...]
GỤKWUOOtu esi aghọ onye nnọchi anya ịkwụ ụgwọ ego na ịkpata ego (2024) 💸
Mụta ka esi edebanye aha wee bụrụ onye na-akwụ ụgwọ Deriv ma nweta ọrụ mgbe ị na-enyere gị aka [...]
GỤKWUOOtu esi ere ahịa & wepụ na-enweghị nkwenye akaụntụ gị
Edemede a ga-egosi gị otu esi azụ ahịa na wepu ya na Deriv na-enweghị nkwenye. Forex [...]
GỤKWUOOtu esi enyocha akaụntụ azụmaahịa nke Deriv gị ngwa ngwa 📈
This article will show you how to verify your Deriv trading account and enjoy full [...]
3 Comments
GỤKWUOStrategy Pinnochio dị irè maka mgbanwe azụmaahịa (75%) ✅
Atụmatụ Pinocchio bụ ụdị ụdị oriọna a kapịrị ọnụ, nke nwere kandụl ndị nwere oke [...]
GỤKWUONyochaa Broker XM
Our team of trading experts put XM forex broker to the test and in this [...]
GỤKWUO