Best Forex Brokers In South Africa 2024

Best Forex Brokers South Africa

You can find numerous Forex brokers available across the globe and moreover the South African residents should register for an account to start the Forex trading. Some traders will stick with the FSCA (Financial Services Conduct Authority) of South Africa regulated brokers. The first consideration for any traders should be the Regulation and choose the best Forex broker before starting the process.

Best Forex Broker South Africa 2024

Most of the Forex brokers will offer similar features but they may vary based on the trading services they offer. Many Forex brokers are properly regulated under the FSCA organization and also offer demo accounts to try. These are the basic requirements to choose the best Forex brokers in South Africa for trading.

1. Blackstone Futures – Top South African Forex Broker

Blackstone futures_South african trading website

This South African Forex broker will offer the best trading conditions with both USD & ZAR accounts provided by CloudTrade & MT4 platforms. The low minimum spreads of 0.6 pips provided on major pairs & even the STP execution will deliver re-quotes, limited slippage, and interest with no conflict. The maximum leverage will be 400:1 and Blackstone Futures are responsible to provide the best-experienced traders along with its proven track record.

They had widely invested more in educating the new traders and also provide high-quality educational material when compared to other local brokers. Blackstone Futures will also offer in-person classes and webinars along with various educational articles and guides.


  • Fast and also free withdrawals
  • Tight spreads
  • ZAR accounts


  • Only local regulation
  • Limited platform choice

2. XM

xm forex brokers south africa

XM is one of the large and most popular Forex broker in south africa established in 2009. It is properly well-regulated under the most major regulators such as FCA, ASIC, and CySEC. For beginners, this is an excellent Forex broker with a wide range of seminars, webinars, market analyses, and educational material available across the globe. They are well-known to offer excellent mobile trading and Forex platforms.

They support both MT5 & MT4 trading platforms along with any re-quotes policy. XM also offers free & fast withdrawals or deposits covering the entire bank transfer pricing over 200 USD on withdrawals & deposits. It also allows hedging & scalping across the various assets and numerous currency pairs.


  • Free and also fast withdrawals
  • Numerous options of assets
  • Excellent education
  • Well-regulated


  • Dealing desk

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3. Plus 500

Plus 500

Plus 500 is another leading and most popular CFD trading platform to cover trading for Forex, cryptocurrencies, indices, and stocks. It offers the best platform with fast trades and low spread-rates with commission-free brokerage charges. It also supports the profitable venture and educational institutes by offering negative balance protection and complex trades.

You can easily test the trading strategy and test the platform by using the free demo account. The maximum leverage for real money accounts will be 300:1. This is an Israel-based Forex broker and regulated under the FCA (Financial Conduct Authority) in the UK.


  • Publicly listed and authorized under various regulatory hubs
  • Fast execution and advanced trades
  • Low spread costs and no commission
  • Numerous markets are available for trading around the global markets to cover Indices, Shares, Commodities, and Forex


  • Fewer research data
  • High rates on leverage or margin accounts

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4. Libertex

Libertex _South Africa Fx broker

Libertex is a regulated and authorized online best Forex broker in south africa established since 1997 across various countries worldwide. Users are allowed to trade across various markets such as CFDs, ETFs, Energies, Metals, Indices, Shares, Stocks, Cryptocurrency, Commodities, and Forex. Libertex offers the IIL (Indication Investments Ltd) trading platform and also a member within the Forex Club group. This multinational brand will provide the best online-trading experience and financial market.

Numerous employees to working in this group of companies to serve over 2 lakh clients from Europe, Asia, and America. Each Libertex client will be treated with similar respect and also offer convenient and simple trading platforms. The execution speed is provided with competitive commissions and zero pips spread.


  • Market sentiment indicator
  • Trading central and regulated
  • Proprietary trading platform
  • Negative balance protection
  • Segregated client funds


  • Non-professional clients with restricted leverage
  • Limited account types

5. Exness

Exness Forex South Africa

Exness is another best Forex broker SA available globally for trading volume and established in 2008. It is highly regulated under CySEC and FCA to offer the safe & best Forex broker trading in South Africa. They are spread competitive across the globe with 1.1 average pips for USD or EUR currencies. The Mini account can be created with their respective ECN account with low 0 pips.

Exness is one of the best and also the lowest Forex trading broker worldwide. The South African traders are very convenient to follow the withdrawal and funding methods. They also offer a few instant withdrawal methods and as well as local bank transfer methods.


  • 0% hedging margin
  • Smaller lot size
  • Zero trading commissions
  • It is available with unlimited leverage (Maximum – 1:Unlimited)
  • The minimum deposit can be $1 (Small initial investment)


  • Only instant execution
  • No demo account or bonus

6. Forextime


FXTM is referred to as Forextime and the primary focus of this platform on foreign exchange. This broker will offer the best Forex trading tools and platforms when compared with other brokers. Cryptocurrency CFDs are used for pairing various currencies such as exotic, minor, and major pairs. Up to a maximum of 1000:1 leverage is available to use.

They work across the entire platform for 5 days/week and trading with 24-hours support. It is located in Cyprus and also registered or licensed by various EU regulators, Cyprus Securities & Exchange Commission, and also IFSC (International Financial Services Commission). You can also utilize the available free demo account for testing purposes.


  • It is compatible with MT5 (MetaTrader 5) and MT4 platform
  • Competitive spreads
  • Numerous markets are available for trading around the global markets to cover Cryptocurrency CFDs, Indices,
  • Shares, Commodities, and Forex


  • No active desktop app for Mac users
  • Low maximum order size

7. CM Trading

CM Trading SA

CM Trading is an FSCA regulated Forex broker and also the largest Forex broker in South Africa to offer the best Forex trading solutions. The powerful and efficient Forex trading software or platform such as CopyKat system and MetaTrader 4 (MT) are utilized by the clients.

They commit to provide the clients using the best Forex trading tools available across the marketplace to increase their potential profit. Clients can trade with confidence by maintaining their funds within the provided segregated accounts.

  • Minimum deposit amount starts from $250
  • FSP 3878 Regulation
  • Established in 2011
  • Segregated client funds


  • Limited instruments range

8. Iron FX


Iron FX is registered and regulated with the local FSCA of South Africa and an office placed within the country. Forex traders are supported by providing a dedicated account manager. They offer three different account types:

  • VIP account with $20,000 or above
  • A Premium account with $2,500 (minimum balance)
  • A Micro account with $100 (minimum deposit)

The Iron FX WebTrader app will allow the clients to utilize the PMAM platform for managing various accounts. The clients can easily track their accounts using the customized reports. It offers variable and fixed spreads to use different trade volumes and styles.


  • High leverage
  • Free access allowed for Trading Central Technical analysis platform
  • Numerous markets are available for trading to cover Shares, Commodities, Indices, Metals, and Forex


  • Limited educational resources

9. FX Pro


FX Pro is another well-known global Forex broker and also regulated under the FSCA team. Currently, there is no office located in South Africa and placed in London & Cyprus. It offers the best pricing plans and suitable any clients with varying trade volumes and account sizes. Two different proprietary platforms like FX Pro Markets & cTrader are most favorites across the MT4 & MT4 clients.

The premium account offered by FX Pro for clients will be above $50,000. Premium accounts will allow the users for trading with MT5 or MT4 clients, access to various faster servers, and also assign a dedicated account manager for control. The clients can trade automatically with the help of expert advisors along with other algos.


  • Tight spreads
  • Great platform to select
  • Well-regulated


  • Limited education

10. IG

IG Forex SA

IG is another trusted and most regulated platform available globally for access. It offers a wide range of trading tools, excellent research, and trade-able products along with competitive pricing, and also provide industry-level leading educational support. The best overall Forex brokers within the trading market to offer the best all-round experience. This platform will serve the best experience levels Forex trading for an experienced or a beginner trader.


  • Very good withdrawal and deposit options
  • Excellent options available for educational programs
  • First-class online or web-based trading platform


  • High stock CFD fees
  • Limited product portfolio

Conclusion – Best Forex Brokers South Africa

It is not required to rush your trading since there is always enough time to perform the Forex trading. First, eliminate your problem by identifying the reliable and good Forex broker. It is essential to know the service type they offer for Forex trading, whether they are regulated or not, and many more.

If they offer the basic requirements with premium features then they could be the best one to reach. Ensure that trading is a risky task and may lose at times; you should perform some homework to succeed within the trading business.

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About the Author


I'm a full-time Forex trader from the Philippines and a writer on studies related to Forex Market. I analyze and predict the currency market with my experience and knowledge.
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