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 akhawunti 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
- Ukufumana -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 Ngokukrwada
🔎Igama lomthengisi | XM Iqela |
🏡 Headquarters | UK |
📆 Year Founded | 2009 |
⚖ Iziphathamandla ezilawulayo | FCA, IFSC, CySec, ASIC |
🧾akhawunti Iintlobo | Iakhawunti encinci; Iakhawunti eqhelekileyo; Iakhawunti ePhantsi kakhulu; Iakhawunti yezabelo |
🎁 Bonus | Ewe, i-$ 30 |
💸 Fees | low |
💸 Spreads | isasazeka ukusuka kwi-0.6 ukuya kwi-1.7 pips |
💸 Commission | urhwebo lwasimahla lwekhomishini ngokuxhomekeke kwiakhawunti ekhethiweyo |
🏋🏾♀️ Maximum Leverage | 1:1000 |
💳 Ubuncinci bediphozithi | $5/ R70 |
💳 Idiphozithi kunye neeKhetho zokurhoxa | Udluliselo lweWayile yeBhanki Ukutshintshwa kweBhanki yaseKhaya Amakhadi eMboleko / aMatyala Neteller Skrill, kunye nokunye. |
🖥 amaqonga | MT4 kunye neMT5 |
🧾 Zar Account | Ewe |
📊 Tradable assets offered | I-Forex, i-commodities, i-cryptocurrency, izabelo, i-indices, isinyithi, amandla, ukhetho, iibhondi, ii-CFD, kunye nee-ETFs |
🗣 Customer Support & Website Languages | IiLwimi ze23 |
🕑 Customer Service Hours | 24/5 |
🚀 Vula iAkhawunti | ???? Cofa apha |
XM Pros & Cons
✅Iinzuzo
- Uluhlu olubanzi lwee-asethi zokurhweba
- Idipozithi encinci
- ZAR base account
- umthengisi olawulwa kakuhle nothembekileyo
- Dependable support in various languages
- Usasazo oluqinileyo luyafumaneka
❌Iingxaki
- a small number of tradeable cryptocurrencies
- Ukwandiswa kokusasazeka kwiiakhawunti zeMicro kunye neMigangatho
- 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 | I-HFM (Eyayisakuba yiHotforex) |
⚖ Ummiselo | CySEC, FCA, DFSA, FSCA, FSA |
📆 Year Founded | 2010 |
💳 Ubuncinci bediphozithi | $5 USD/ R70 |
💹 Types of assets traded | I-Forex, isinyithi, amandla, izabelo, i-Indices, iibhondi, i-Commodities, i-DMA Stocks, i-ETFs |
🎁 iibhonasi | Yes, Including I-50 $ Akukho Idibansi yeBhonasi |
Zar Account | Ewe |
💳 Payment methods | Skrill, Neteller, Debit Card, Wire Transfer, Credit Card, fasapay, Vload |
🧾 Iintlobo zeakhawunti | angamakhulu, umrhumo, ngalinye, Zero Ukusasazeka, Khuphela iAkhawunti, iakhawunti yamaSilamsi |
📈Ngaba iiakhawunti ezininzi ziyaxhaswa | ✅Ewe |
♻ Is PAMM & Copy trader supported? | ✅ Ewe |
HFM Pros & Cons
✅Iinzuzo
- Locally-regulated
- Idipozithi encinci
- Zar base account
- A variety of local funding methods
- Zero fees on deposits & withdrawals.
- Ukusasazeka okuphantsi
❌Iingxaki
- Wire transfer available at high fees
3. Ukufumana
Deriv is a very popular broker in South Africa. Most traders choose the broker because it is the only one with Izalathisi zokwenziwa 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 apps that bring convenience to traders
I-Deriv ngokujonga nje
🔎 Broker's Name | I-Deriv ngaphambili (Binary.com) |
🏡 Headquartered | i-USA |
📆 Year Founded | 1999 |
⚖ Iziphathamandla ezilawulayo | Ilawulwa ngeMalta Financial Services Authority (MFSA), iLabuan Financial Services Authority (LFSA), IKomishoni yeeNkonzo zezeMali zaseVanuatu (VFSC) kunye neKhomishini yeeNkonzo zeZimali zaseBritish Virgin Islands (BVIFSC) |
wediposithi | $5 / R70 |
🏋🏾♀️ Maximum Leverage | 1:1 000. |
💳 Idiphozithi kunye neeKhetho zokurhoxa | Ukudluliselwa kwebhanki yebhanki -Ikhredithi / amakhadi e-debit - zombini i-Visa kunye ne-Mastercard - USD / GBP / EUR / AUD. I-E-wallets-Skrill, Neteller, PaySafe, Fasapay, WebMoney, Cryptocurrency, Bitcoin, Ethereum, Litecoin kunye neTether. Iiarhente zentlawulo, Dp2p |
📊 Tradable assets offered | I-Forex - Isondele kwi-50 FX izibini zemali, kubandakanywa ii-majors, abancinci kunye ne-exotics Izalathisi zesitokhwe – Qikelela ngokushukuma kwamaxabiso kuzo zonke izalathisi ezinkulu zase-US, zaseAsia naseYurophu. Izalathisi ze-Synthetic-Ngokusekwe kwijenereyitha ekhuselekileyo ekhuselekileyo, izalathisi zokwenziwa ziphindaphinda iimeko zentengiso yehlabathi yokwenyani kwaye ziyafumaneka 24/7 ukuhambisa ukuguquguquka okungaguqukiyo. Izinto ezithengiswayo - Iintsimbi ezixabisekileyo, ezifana negolide nesilivere, kunye namandla afana neoyile ayafumaneka |
🗣 Iiyure zeNkonzo yaBathengi | 24/7 |
🚀 Vula iakhawunti | ???? Cofa apha |
I-Deriv Pros & Cons
✅Iinzuzo
- Wide range of trading assets including synthetic indices
- Idipozithi encinci
- Well developed platforms
- Umthengisi olawulwa kakuhle nothembekileyo
- Availability of 24/7 live chat, phone lines, WhatsApp, and help centre
4. Umzekelo
I-Exness yi-forex ephumelele ibhaso kwaye ilawulwa kakuhle kunye ne-CFD broker eyasekwa kwi-2008. Ikomkhulu le Cyprus lineeofisi kwamanye amazwe aliqela, kuquka, eMzantsi Afrika, eSeychelles, eRashiya naseTshayina.
I-Exness yi-broker edumileyo, ene phezu 10 million akhawunti ebhalisiweyo kwihlabathi jikelele kuquka noMzantsi Afrika.
The broker has low trading fees, offers a Zar account and processes withdrawals instantly.
Igama lomthengisi | Exness |
📅 Unyaka wokusekwa | 2008 |
🏠 Ikomkhulu | Limassol, eSipro |
⚖ Ilawulwa ngu | SFSA (Seychelles), CBCS (Curaçao), FSC (BVI), FSCA (SA), CySEC (Cyprus), FCA (UK) |
💳 Ubuncinci bediphozithi | R180 ZAR / $10 |
📉 Imali yeZar Base? | ✔ Ewe |
🧾 Iintlobo zeakhawunti | I-Cent, i-Standard, iPro, i-Raw Spread, i-Zero. |
🎮 Iakhawunti yoRhwebo yeDemo | ✔Ewe |
💵Idiphozithi kunye neendlela zokurhoxisa | Ikhadi letyala/letyala, iSkrill, iNeteller, iQIWI, iCryptocurrencies, iBhanki/Udluliselo locingo, |
💰 Ukusasazeka | Ukusasazeka kuxhomekeke kuhlobo lweakhawunti kunye nesixhobo. Usasazo luhlala ludada. FTSE Isasazeke 1.5 iipts (var) I-GBPUSD Ukusasazwa kwe-2.1 (var) Ukusasazwa kweOyile 0.05 (var) Izabelo zisasazeke 0.1% Var I-GBPUSD Spread 2.1 pips (var) I-EURUSD isasaze i-1.6 pips (var) I-EURGBP isasaze iipips ezi-2 (var) |
📉Izixhobo ezinikezelweyo | I-Forex (97), isinyithi, i-Stocks, i-Indices kunye namandla, ii-Cryptocurrencies (35) |
💰 Umrhumo wokurhoxa | ✔ Ewe |
💰 Ukurhoxiswa kwangoko kunye neediphozithi | ✔ Ewe. Kuxhomekeke kwinkqubo yentlawulo. Oku kunokwahluka ngokusekwe kwinkqubo yomnikezeli wentlawulo |
💸 Ukhuseleko lwebhalansi engalunganga | ✔ Ewe |
💻 Ukusingathwa kweVPS yangaphakathi | ✔ Ewe, nge $ 500+ iidiphozithi |
☪ Iakhawunti yamaSilamsi | ✔ Ewe |
💵 Intlawulo yokungasebenzi ihlawuliswa | Hayi |
📱 Amaqonga | MT4, MT5, Exness Terminal, MT4 Multiterminal, Exness Trader app |
🚀 Vula iAkhawunti | ???? Cofa apha |
Exness Pros 👍
- Ilawulwa kakuhle kwi Mzantsi Afrika, United Kingdom, Cyprus, Seychelles & Mauritius
- Ukurhoxa kwangoko
- Zar akhawunti iyafumaneka
- Yamkela iindlela zediphozithi yendawo
- Ukufikelela kuluhlu olubanzi lwee-asethi zokurhweba
- Ukuqina kuyasasazeka
- Uluhlu olubanzi lwezixhobo zokurhweba (i-130+ currency pairs)
- Ukuxhaswa kwabathengi
- app mfono
Ukuziphatha okubi 👎
- Izibonelelo zemfundo ngesiNgesi kuphela
- Akukho akhawunti zemali ezininzi ezikhoyo
- Hayi Imincintiswano or iibhonasi
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
🔎Igama lomthengisi | FBS |
⚖ Ummiselo | CySEC, ASIC, IFSC, FSCA, |
📆 Unyaka wokusekwa | 2009 |
💳 Ubuncinci bediphozithi | I-$ 1 ye-akhawunti ye-cent, i-Akhawunti ye-5 ye-Micro, i-$ 500 ye-Akhawunti ye-Zero yokuSasaza |
💳 Maximum Leverage | 1: 3000 |
💹 Iakhawunti yamaSilamsi? | ✔Ewe |
🖥Types of assets traded | Forex, imveliso, iibhondi, izabelo, iindices, stocks, CFDs, metals, energy |
🚀Supported lot sizes | 0.01 - 500 |
💳 Payment methods | iNeteller; Stickpay; Skrill; Imali epheleleyo |
🧾Are multiple accounts supported | ✔Ewe |
📈 Ngaba iPAMM iyaxhaswa | ❌ Hayi |
♻ Ngaba iCopyTrader iyaxhaswa? | ✔Ewe |
🚀 Akhawunti Evuliwe | ???? Cofa apha |
FBS Broker Pros & Cons
✅Iinzuzo
- Globally recognized with multiple industry awards
- Idipozithi encinci
- Zar base account
- Range of trading accounts
- Usasazo oluqinileyo luyafumaneka
❌Iingxaki
- Iindlela zenkxaso-mali ezilinganiselwe
- 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.
ummiselo
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.
Idiphozithi kunye nokuKhetha ukuKhetha
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.
Iimali ezincinci
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.
I-HFM (eyayisakuba yiHotforex) 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).
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