7 Best Forex Brokers in South Africa
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.
CM Trading is based in Johannesburg, South Africa, and is locally regulated. It provides MetaTrader 4 and Sirix WebTrader trading platforms and guarantees safe investment and trading in Forex, Index and Commodities, including Cryptocurrencies, with confidence.
CM Trading is a well-regarded broker, often seen as the largest in Africa which offers competitive spreads and is suitable for new traders due to their educational material and the CopyKat copy-trading system.
The broker offers a maximum leverage of 200:1.
AvaTrade was founded in 2006 and is based in Ireland. It is regulated by several reputable authorities, but provides a limited choice of account types, divided in types for residents of the European Union and for persons outside the European 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.
You might like: See the top forex brokers in South Africa, compared and reviewed side by side.
Plus500 is a CFD broker founded in 2008 and operates out of Israel. It is FTSE 250 listed and authorised and regulated by the Financial Conduct Authority (FCA), CySEC, ASIC, FMA, FSB and MAS to offer Contracts for Difference (CFD), Crypto, Indices, Forex, Commodities, Shares Options and ETFs.
Plus500 provides traders with only a proprietary trading platform, and has the same CFD account for all, but a professional account is available.
Khwezi Trade is a respected South African brokerage headquartered in Cape Town.
It was founded in 2013 and operates as an STP broker, with excellent trading conditions, 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 and customer funds are fully segregated with the reputable local Standard Bank.
Khwezi Trade provides good market conditions, average leverage, tight spreads and technologically advanced software like the MetaTrader4 trading platform.
Founded in 2009, BlackStone Futures is an established FSCA-regulated broker in Johannesburg. It offers both ZAR and USD accounts on MT4 and the proprietary CloudTrade platforms, and STP execution. Beginner traders have access to excellent educational support, spreads are tight, and leverage is kept sensibly low.
It is rated as one of the best Forex brokers in South Africa, for transparency, fairness and customer support.
JP Markets is a South African forex broker company based in Johannesburg and in operation since 2016 and authorised by FSCA. JP Markets has branches in Johannesburg, Polokwane, Bloemfontein, Cape Town and Pretoria, as well as internationally in Swaziland, Kenya, Pakistan and Bangladesh.
JP Markets has accumulated several awards during its years of service to traders such as South Africa's Best Broker for 2019 awarded by Global Business Outlook.
JP Markets offers two account types, an STP standard account and an ECN account, and PAMM services.
Apart from MT4, this broker also offers its own JPMarkets platform with an App for both Android and Apple for trading up to 30 forex pairs, other CFDs, gold, stock indices and oil.