Best Forex Brokers and Trading Platforms in South Africa

Looking for the best Trading platform in South Africa? Forex Broker, Stock Broker or Crypto platform?

We have listed all the best trading platforms in South Africa.

Forex trading is one of the most popular forms of trading there is in the world especially for day traders. The extensive range of available assets combined with decently high volatility creates perfect conditions for traders. However, in order to start trading one first needs to find the best forex broker to use.

Because of this, we’ll try to answer the following question.

Which are the best forex brokers and trading platforms in South Africa?

Here Are The Best Trading Platforms in South Africa:

Risk Warning:

Your capital will be at risk when using any of the recommended brokers on this page. Never invest money you can’t afford to lose. Using high leverage can result in big losses. Between 65-89% of retail investors lose money when trading contracts for difference (CFD). Bullmarketz may be compensated by some of the brokers listed on our website.

Is CFD Trading allowed in your country?

CFD Regulation Country by Country. The CFD trading services we are listing in this article is avalible in the following countries.

Europe:

  • Albania
  • Bosnia & Herzegovina
  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Kosovo
  • Latvia
  • Lithuania
  • Macedonia
  • Malta
  • Moldova
  • Montenegro
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Russia
  • Serbia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • Ukraine
  • United Kingdom

Excluded: Belgium

North America

  • Belize
  • Canada
  • Costa Rica
  • Cuba
  • Guatemala
  • Honduras
  • Jamaica
  • Mexico
  • Nicaragua
  • Panama
  • Puerto Rico
  • The Bahamas

Excluded: United States

South America

  • Argentina
  • Bolivia
  • Chile
  • Colombia
  • Dominican Republic
  • Ecuador
  • Guyana
  • Paraguay
  • Peru
  • Suriname
  • Uruguay
  • Venezuela

Excluded: Brazil

Africa

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burkina Faso
  • Burundi
  • Cameroon
  • Central African Republic
  • Chad
  • Democratic Republic of Congo
  • Egypt
  • Eritrea
  • Ethiopia
  • Gabon
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Kenya
  • Lesotho
  • Liberia
  • Libya
  • Madagascar
  • Malawi
  • Mali
  • Mauritania
  • Morocco
  • Mozambique
  • Namibia
  • Niger
  • Nigeria
  • Republic of the Congo
  • Rwanda
  • Sierra Leone
  • Somalia
  • South Africa
  • South Sudan
  • Sudan
  • Swaziland
  • Tanzania
  • The Ivory Coast
  • Togo
  • Tunisia
  • Tunisia
  • Uganda
  • Western Sahara
  • Zambia
  • Zimbabwe

Middle East

  • Georgia
  • Armenia
  • Azerbaijan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Cyprus
  • Israel
  • Jordan
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Qatar
  • United Arab Emirates
  • Oman
  • Yemen

Asia

  • Afghanistan
  • Bangladesh
  • Cambodia
  • China
  • China
  • India
  • Indonesia
  • Japan
  • Kazakstan
  • Kirgizistan
  • Laos
  • Malaysia
  • Mongolia
  • Myanmar
  • North Korea
  • Pakistan
  • Papua New Guinea
  • Philippines
  • Singapore
  • South Korea
  • Sri Lanka
  • Thailand
  • Turkmenistan
  • Uzbekistan
  • Vietnam

Excluded: Hong Kong

Oceania:

Tested Trading Platforms:

  • eToro
  • Markets.com
  • 24Option
  • IQ Option
  • BDSwiss
  • HotForex
  • Trade.com
  • Libertex
  • Plus500
  • XTB
  • InstaForex
  • IG Markets
  • GKFX
  • LionsFX
  • Valutrades
  • XM
  • IronFX
  • Blackwellglobal
  • FPMarkets
  • AmanaCapital
  • Admiralmarkets
  • Alvexo
  • Bizintra
  • Pepperstone
  • Windsorbrokers
  • FXPro
  • ForexTime
  • HYCM
  • FXGrow
  • TeleTrade
  • Trader.online
  • Marketscube
  • Finmaxbo
  • FXCC
  • Oanda
  • Forex.com
  • LCG
  • CMC Markets
  • FXCM
  • iForex
  • IFC Markets
  • Aaatrade

Our Writer:

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

When it comes to finding the best forex broker in South Africa, there are a couple of things one has to consider and evaluate. For example, the number of available currency pairs, the quality of the trading platform, different accounts, etc.

However, there is one thing that is more important, and it is the first thing that we always check when reviewing a broker. You have to make sure that the South African forex broker is licensed and regulated.

So, before we get started with our recommendations and the list of the best forex brokers in South Africa, we’ll take a look at regulation and safety.

The Best CFD Trading Platforms in South Africa should have a license

In order for a trading platform to get a license they have to live up to very strict regulations, and they have to accept being subject to regular audits.

This is done in order to protect traders from scams and to make sure that your information and funds are always protected.

There are several organizations that regulate the forex industry, but only a few are considered legitimate.

One of the most respected organizations in the South African Financial Services Board (FSB).

FSB – The FSB works hard to regulate South African forex brokers and trading platforms, and their licenses are considered one of the strictest in the world.

That means if you find a forex broker in South Africa that is licensed by the FSB, they are safe to use. With that being said, not all of the best forex brokers in South Africa are licensed by the FSB even though the FSB has to approve them before they can start operating in the country.

Instead, there are a few other government organizations that regulate the market and that are accepted worldwide.

FCA – The Financial Conduct Authority (FCA) is the financial regulatory body of the United Kingdom and their license is the strictest in the world.

Any broker that is regulated by the FCA and accepts traders from South Africa is safe to use.

CySEC – The Cyprus Securities and Exchange Commission is the second strictest agency in Europe, and the same applies for their license as it does for the FCA, meaning if a South African forex broker is licensed by CySEC, they’re safe.

Best Crypto, Forex and Stock Trading Platforms and Brokers in South Africa

1. eToro – Social Trading, great for beginners. 

eToro is the only leading broker offering a social trading network in South Africa and copy trading.

Copy trading is a practical feature that lets you copy other successful traders while the social trading network can be used to interact with traders from all over the world. Also a great crypto broker.

License: CySEC and FCA for major investors
Platform: Their own copy trading platform
Assets: Currencies, stocks, commodities, and much more
Demo Account: Yes

Read our eToro Review

Find the best trading platform. You capital is at risk when trading. Be careful.

2. AvaTrade – Offers a wide selection of assets.

AvaTrade has developed a range of different trading platforms with specific purposes, and it’s one of the leading reasons why we consider them to be one of the best forex brokers in South Africa.

They also offer 50 of the world’s most popular currencies including the South African Rand.

License: FSB, FCA, ASIC, CySEC
Platform: Several proprietary platforms
Assets: Currencies, stocks, commodities, ETFs, bonds, cryptocurrencies, and more
Demo Account: Yes

Read our AvaTrade Review

Find the best trading platform. You capital is at risk when trading. Be careful.

3. Plus500 – Available in South Africa and very easy to use trading platform.

Plus500 is considered one of the best CFD brokers UK by most. They have a state of the art trading platform, a great selection of assets, and all the licenses needed to offer forex trading in South Africa, Europe, and more.

License: FSB, FCA, ASIC, CySEC
Platform: The Plus500 platform
Assets: CFDs on Currencies, Stocks, Commodities, Cryptocurrencies
Demo Account: Yes

Read our Plus500 Review

Find the best trading platform. You capital is at risk when trading. Be careful.

4. 24Option – One of the best brokers in South Africa.

24Option used to be a leading binary options broker and has now rebranded to become one of the best CFD and forex brokers.

They also have several accounts designed to suit different traders from beginners all the way up to professional day traders.

The best part about this top forex broker is that they offer the MetaTrader 4 which is known around the world as the best trading platform and a great forex trading app.

24Option is also one of the cheapest share trading platform in South Africa.

License: CySEC
Platform: The MetaTrader 4
Assets: Currencies, stocks, commodities, cryptocurrencies
Demo Account: Yes

Read our 24Option Review

Find the best trading platform. You capital is at risk when trading. Be careful.

5. Markets.com –  Platform that offers Forex, Stocks & Crypto.

Markets.com is always one of our top picks when it comes to forex brokers and Trading Platforms in South Africa and elsewhere.

Their selection of assets is excellent, they offer the MetaTrader 5 which is an industry leading platform, and they have a free demo account and one of the best trading apps.

License: FSB, FCA, CySEC
Platform: The MetaTrader 5
Assets: Currencies, stocks, commodities, cryptocurrencies, more
Demo Account: Yes

Read our Markets.com Review

Find the best trading platform. You capital is at risk when trading. Be careful.

Below is a list of additional forex brokers in South Africa that are all regulated and safe to use. Check out the South African forex broker reviews to learn more.

Demo Account (MT4, MT5 or Forex) for South Africans Traders

If you’re new to forex trading och CFD Trading in general and are looking to start trading, we suggest you open a demo account before you deposit your own money.

You can easily create a forex demo account, or an MT4 or MT5 (meta trader 4 or meta trader 5) demo account.

A demo account is completely risk-free since you use virtual money to trade, but it can provide you with the necessary skills to start trading professionally.

It’s also the best way for you to test and evaluate the above-mentioned brokers to determine which one is the best forex broker in South Africa for you.

You will also want to read up on what is CFD Trading before you get started.

Finally, please remember that all trading is associated with risk. It is important that you are aware of that and that you manage that risk in the best way possible. Stay safe when trading.

Best Day Trading Brokers – Software & Platforms in South Africa

As mentioned, we think that the best day trading software is defined as a complete product where every part contributes.

In other words, only having the best platform, or app, or account isn’t enough.

To qualify as the best day trading software, a broker needs to provide all the software we need to successfully day trade on a regular basis.

Because of this, we had to dig deeper than usual when we did research for this article. We really had to go into detail and check every part of each brokers’ software.

You can find the result of this in-depth research further down on this page, but first a little side note.

When it comes to day trading software, there is one company that really excels.

MetaQuotes has developed two of the strongest trading platforms we’ve ever seen, and they come with all the tools, graphs, and features one could wish for.

Because of this, we thought it would be unfair not to mention these day trading platforms before we start listing brokers.

  • The MetaTrader 4 is the top forex trading platform in the world hence it is one of the best day trading software for forex traders. It’s simple and clean, yet highly effective and it has been designed to work as well for beginners as it does for demanding day trading professionals.
  • The MetaTrader 5 was developed as an upgraded multi-asset of the MT4 with better support for CFD trading, meaning the MT5 is the best day trading software for most day traders that aren’t hardcore forex fans. We would even argue and say that MT5 is a bit better than the MT4 in terms of analytic opportunities.
  • In-house developed Platforms – Many brokers today such as eToro, Plus500, and IQ Option have developed their own in house trading platforms.

With that out of the way, let us take a look at some of the brokers that offer incredible day trading platforms.

Best Trading Platforms & Softwares in South Africa

1. Plus500

Plus500 is one of the top CFD and forex brokers in the world thanks to their incredible day trading platform.

The software was developed by Plus500’s own developers, and it’s outstanding in every way.

In fact, Plus500’s platform is one of the most awarded in the business.

Read our Plus500 Review

Find the best trading platform. You capital is at risk when trading. Be careful.

2. IQ Option

IQ Option’s in-house developed day trading software comes with a selection of high-quality analytic tools and graphs, real-time price updated on hundreds of assets, and daily market updates.

Naturally, all of this information makes it so much easier to plan successful investments and that is why we decided to put IQ Option on this list.

Also, the platform is really well-designed and a pleasure to trade with.

Read our IQ Option Review

Find the best trading platform. You capital is at risk when trading. Be careful.

How we did this test

Having a legitimate license is really the only thing that is required for a broker to be considered safe, but it doesn’t mean the broker is one of the best forex brokers in South Africa.

Below you can find a list of the best, registered forex brokers in South Africa with an explanation as to why they are considered the best.

We also provide links to our comprehensive reviews where you can learn more about each broker in detail.

Please remember that these are the best brokers for the South African market but that there are other brokers that are better suited for other markets. Check Best Forex Brokers UK for more examples.

Our Author:

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

COMMENTS

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65-89% of retail CFD accounts lose money.