7 Best Forex Brokers in South Africa
Khwezi Trade is a respected brokerage headquartered in Cape Town, South Africa. It was founded in 2013.
Khwezi Trade operates as an STP broker and provides dedicated customer support and a variety of deposit and withdrawal options free of charge.
Khwezi Trade is regulated by the Financial Intelligence Centre Act (FICA), and the FSCA with customer funds segregated with Standard Bank in ZAR currencies.
It offers a wide selection of crucial educational tools, supports customers in local languages and
provides good market conditions, average leverage, tight spreads and technologically advanced software like the MetaTrader4 trading platform.
AvaTrade was founded in 2006 and is headquartered in Ireland. It is regulated by almost all the reputable authorities.
Avatrade has a limited choice of account types, different for residents of the European Union, and persons outside the Union. Avatrade provides the MetaTrader 4, MetaTrader 5, a proprietary and Web-based platform, to be used with a maximum leverage of 1:400 for trading Forex, CFDs, Commodities, Metals, Oil, Gold and Indices.
CM Trading is based in Johannesburg and is regulated by the FSCA.
CM Trading provides MetaTrader 4 and Sirix WebTrader to trade Forex, Index and Commodities, including Cryptocurrencies.
CM Trading is often seen as the largest in Africa, offers competitive spreads and is a good choice for new traders due to their educational material and the CopyKat copy-trading system.
Founded in 2009, BlackStone Futures is an established FSCA-regulated broker based in Johannesburg. It provides both ZAR and USD accounts on MT4 and the proprietary CloudTrade platforms, and STP execution ensures no conflict of interest. Beginner traders get excellent educational support, and traders enjoy tight spreads and sensibly low leverage.
Exness was founded in 2008 and is registered and authorised in Seychelles by the Financial Services Authority (FSA), in Cyprus by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the United Kingdom.
The broker offers MT4 and MT5 and a WebTerminal as trading platforms, with more than 130 currency pairs, metals, cryptocurrencies, energies and Indices as trading instruments.
JP Markets is a South African forex broker based in Johannesburg and in operation since 2016.
JP Markets was established by a local entrepreneur and strives to offer trading capability to local and global traders.
JP Markets has accumulated several awards during its years of service to traders and provides two account types, an STP standard account and an ECN account.
JP Markets allows trading up to 30 forex pairs, other CFDs, gold, stock indices and oil on the site, which uses the MT4 (MetaTrader 4) platform.
Tickmill, a member of the Tickmill Group, is regulated by the Seychelles Financial Services Authority (FSA) as well as the Financial Conduct Authority (FCA) in the UK.
Tickmill offers three different live accounts and a demo account. Trading conditions improve with every account type, as well as with the initial deposit required. Tickmill provides its own proprietary WebTrader and MetaTrader 4 and traders have access to forex currency pairs, stock indices and oil, precious metals, and bonds as trading instruments.