Top 8 Forex Brokers in South Africa - Sept. 2022

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Sept. 2022
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Top8forexbrokers.com is an independent professional comparison site that provides users with free and valuable information on leading Forex brokers. Top8forexbrokers.com is supported by referral fees from listed companies. We do not provide a listing of each and every company in the market. We do not guarantee 100% accuracy of the information. The information which appears on this site is subject to change at any time. We aim to help users make an informed choice that best suits their particular needs.
RANK
BROKER
ADVANTAGES
MIN
DEPOSIT
SPREADS
FROM
OUR SCORE
MAX
LEVERAGE
REGULATION
SUPPORT
START
TRADING
1
30% Deposit Bonus Up to $150
$10
0.0 PIPs
1000:1
CySEC, FCA (UK), FSCA
Pros
  • Tight spreads and low commissions on all major pairs
  • Offering multiple accounts types including cent, standard & ECN
  • FXTM Invest allows investors to connect with your strategy for a fee
  • Trustworthy and regulated by FCA (UK) & CYSEC (EU)
Cons
  • Limited selection of CFD stocks to trade
  • Doesn’t accept clients from the US
Platforms & Devices
  • MetaTrader 5 (MT5)
  • MetaTrader 4 (MT4)
  • FXTM Trader
  • FXTM Invest (copy trading)
  • WebTrader
2
Tight Spreads PayPal Accepted
$200
0 PIPs
30:1
FCA (UK), DFSA, ASIC, CMA, CYSEC, SCB, BaFIN
Pros
  • Segregated accounts
  • Great customer support
  • FCA regulated
  • 4.3/5 rating on trustpilot on 858 reviews
Cons
  • No bonuses
  • Demo account available for only 30 days 
Platforms & Devices

MetaTrader 4
MetaTrader 5
cTrader

DupliTrade
WebTrader
Social Trading

3
Deal Cancellation Within an Hour
$100
1 PIPs
30:1
CySEC, ASIC
Pros
  • CFD, Commodities, FX Pairs, Guest Account
  • Demo Account and Live Account
  • MT4 platform
  • Deal Cancellation feature 
Cons
  • Not accepting US clients
  • PayPal is not supported
Platforms & Devices
  • easyMarkets WebTrader
  • MetaTrader 4
  • easyMarkets Trading App
  • Vanilla Options Platform
4
Award-winning New Zealand Broker No fees on deposits
$200
0 PIPs
500:1
FMA (New Zealand), FSA
5
4.8 stars on Trustpilot by 14,520 reviewers
$200
0.0 PIPs
30:1
ASIC (Australia)
6
Special 40% Bonus *up to 8K$
$100
0.6 PIPs
400:1
CBI (Ireland), ASIC, FSCA, IIROC, FSA, FFA, ADGM, FRSA
7
Smooth and swift withdrawals
$100
0.0 PIPs
100:1
FCA, ASIC, CySEC, SCB
8
50% bonus on first deposit *up to $500 credit
$200
0.0 PIPs
500:1
ASIC (Australia), FCA (UK), CIMA (Cayman Islands), VFSC (Vanuatu)
1
30% Deposit Bonus
97
Excellent
2
Tight Spreads
95
Excellent
3
Deal Cancellation
92
Great
4
Award-winning New Zealand Broker
90
Good
5
4.8 stars on Trustpilot
88
Good
6
Special 40% Bonus
86
Good
7
Smooth and swift withdrawals
83
Okay
8
50% bonus on first deposit
80
Okay
Advertiser Disclosure
Top8forexbrokers.com is an independent professional comparison site that provides users with free and valuable information on leading Forex brokers. Top8forexbrokers.com is supported by referral fees from listed companies. We do not provide a listing of each and every company in the market. We do not guarantee 100% accuracy of the information. The information which appears on this site is subject to change at any time. We aim to help users make an informed choice that best suits their particular needs.

Forex Trading in South-Africa

South Africa is a beacon of hope for the African continent, and the world at large. It is a multicultural melting pot bustling with diversity and economic activity. As Africa’s powerhouse, FX trading is high on the agenda for South African traders. The global FX market is currently worth an estimated $5 trillion per day, and South Africa certainly chips in with its share of the currency trading market…  Read More>>

Latest Expert Reviews Summary:
"Very professional broker, good support & online webinar. Thank you"
Score: 9.5 Written on: 27.07.2020 by Amoo Akbar
Pros
  • Tight spreads and low commissions on all major pairs
  • Offering multiple accounts types including cent, standard & ECN
  • FXTM Invest allows investors to connect with your strategy for a fee
  • Trustworthy and regulated by FCA (UK) & CYSEC (EU)
Cons
  • Limited selection of CFD stocks to trade
  • Doesn’t accept clients from the US
"Amazing service, always providing new webinars to assist you in getting the best possible results with your future trading"
Score: 9 Written on: 15.12.2020 by Mekyle
Pros
  • Tight spreads
  • Multiple trading platforms
  • Powerful tools and resources available
  • Professional support and education
Cons
  • Fewer currency pairs compared to other brokers
"As a UK resident I opened an account with Blackbull to benefit from higher leverage. The opening process is different from UK but still straightforward. Trading conditions are great and I withdrew money back to my card that funded the account also with no problems"
Score: 9 Written on: 21.03.2020 by Steve Wilks
Pros
  • Segregated Accounts
  • Demo Account + Live Account
  • 64+ Forex Pairs, Index CFDs, Commodities
  • Derivative Issuer License issued by the Financial Markets Authority (FMA)
Cons
  • Limited to Regulated Jurisdictions
  • No Welcome Bonuses Available to New Traders
  • Restricted Number of Trading Tools and Resources
How to Choose a Forex Broker?

Top8ForexBrokers.com helps you compare and choose your preferred Forex Broker. We suggest keeping the following checklist in mind when making your decision:

  • Is the Forex Broker regulated?
  • Account Details: Ideally, your broker should offer either a selection of account types or some element of customizability. Competitive spreads and easy deposits/withdrawals are good indicators too. 
  • Number of Currency Pairs offered: The variety of currency pairs on offer, as well as the quantity, should be considered (the more of both, the better).
  • Availability of Customer Service. 
  • Quality of the Trading Platform: look for a platform that is easy to use, straightforward and offers a collection of technical and analytical tools to enhance your trading experience. 

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