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These are the best Forex brokers in SA

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Trading Experience
Trading Conditions
Account Types
Trading Platforms
Regulators
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    ASIC ASIC
    FSCA FSCA
    B.V.I FSC B.V.I FSC
    FSA FSA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • POLi
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 0.9 pips
    • Currency Pairs : 50+
    AccountSpread FromCommissionExecutionMin. Deposit
    Professional1.3 pipsNoneInstantUSD 100 Account Details
    Retail1.3 pipsNoneInstantUSD 100 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • POLi
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 0.9 pips
    • Currency Pairs : 50+
  • Minimum Deposit
    USD 50
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    TYPE OF BROKER

    ECN/STP

    REGULATED BY
    CySEC CySEC
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Visa
    • Skrill
    • Neteller
    • Bitcoin
    • Fasapay
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 28
    AccountSpread FromCommissionExecutionMin. Deposit
    cTrader ECN0.0 pips$3.00MarketUSD 100 Account Details
    MT4 Micro0.4 pipsNoneMarketUSD 100 Account Details
    MT5 Pro0.2 pipsNoneMarketUSD 500 Account Details
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Visa
    • Skrill
    • Neteller
    • Bitcoin
    • Fasapay
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 28
  • Minimum Deposit
    USD 5
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    IFSC IFSC
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 57
    AccountSpread FromCommissionExecutionMin. Deposit
    Micro1.0 pipsNoneInstantUSD 5 Account Details
    Standard1.0 pipsNoneInstantUSD 5 Account Details
    XM Ultra Low0.6 pipsNoneInstantUSD 50 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 57
  • Minimum Deposit
    USD 5
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    • Bonds
    TYPE OF BROKER

    ECN/STP

    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSCA FSCA
    DFSA DFSA
    FSC FSC
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 51
    AccountSpread FromCommissionExecutionMin. Deposit
    Micro1.0 pipsNoneMarketUSD 5 Account Details
    Auto1.0 pipsNoneMarketUSD 200 Account Details
    Zero0.0 pips$3.00MarketUSD 200 Account Details
    HFCopy1.0 pipsNoneMarketUSD 300 Account Details
    Premium Pro1.0 pipsNoneMarketUSD 5000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    • Bonds
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 51
  • Minimum Deposit
    ZAR 2000
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    TYPE OF BROKER

    Pure STP

    REGULATED BY
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 200:1
    • Min. Spread : 0.6 pips
    • Currency Pairs : 32
    AccountSpread FromCommissionExecutionMin. Deposit
    BasicNormal pipsNoneSTPZAR 2000 Account Details
    StandardCompetative pipsNoneSTPZAR 15000 Account Details
    PremierTight pipsNoneSTPUSD 30000 Account Details
    VIPInstitutional pipsNoneSTPZAR 50000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 200:1
    • Min. Spread : 0.6 pips
    • Currency Pairs : 32
  • Minimum Deposit
    USD 250
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    • Sirix
    DEPOSIT METHODS
    • Bank Transfer
    • Neteller
    • Visa
    • Mastercard
    • Fasapay
    Trading Conditions
    • Max. Leverage : 200:1
    • Min. Spread : 1.5 pips
    • Currency Pairs : 47
    AccountSpread FromCommissionExecutionMin. Deposit
    Bronze1.5 pipsNoneInstantUSD 250 Account Details
    SilverNot Published pipsNoneInstantUSD 1000 Account Details
    GoldNot Published pipsNoneInstantUSD 10000 Account Details
    PremiumNot Published pipsNoneInstantUSD 25000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    TRADING PLATFORMS
    • MT4
    • Sirix
    DEPOSIT METHODS
    • Bank Transfer
    • Neteller
    • Visa
    • Mastercard
    • Fasapay
    Trading Conditions
    • Max. Leverage : 200:1
    • Min. Spread : 1.5 pips
    • Currency Pairs : 47
  • Minimum Deposit
    ZAR 1500
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Vanilla Options
    • ETFs
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    FSCA FSCA
    MAS MAS
    FMA FMA
    TRADING PLATFORMS
    • Plus500
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Paypal
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : Not Disclosed pips
    • Currency Pairs : 70+
    AccountSpread FromCommissionExecutionMin. Deposit
    Standard0.0 pipsNoneInstantUSD 100 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Vanilla Options
    • ETFs
    TRADING PLATFORMS
    • Plus500
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Paypal
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : Not Disclosed pips
    • Currency Pairs : 70+
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    • Futures
    TYPE OF BROKER

    NDD Intervention Market Maker

    REGULATED BY
    FCA FCA
    CySEC CySEC
    FSCA FSCA
    DFSA DFSA
    SCB SCB
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    • FxProEdge
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.6 pips
    • Currency Pairs : 70+
    AccountSpread FromCommissionExecutionMin. Deposit
    FxPro cTrader0.45 pips$4.50MarketUSD 100 Account Details
    FxPro MT41.2 pipsNoneMarketUSD 100 Account Details
    FxPro MT51.52 pipsNoneMarketUSD 100 Account Details
    TRADING INSTRUMENTS
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    • Futures
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    • FxProEdge
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.6 pips
    • Currency Pairs : 70+
  • Minimum Deposit
    USD 250
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Equities
    • Bonds
    • Interest Rates
    • Digital 100s
    • IPOs
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    Trading Conditions
    • Max. Leverage : 200:1
    • Min. Spread : 0.6 pips
    • Currency Pairs : 93
    AccountSpread FromCommissionExecutionMin. Deposit
    Live Account0.6 pipsNoneInstantUSD 250 Account Details
    Spread Betting0.6 pipsNoneInstantUSD 250 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Equities
    • Bonds
    • Interest Rates
    • Digital 100s
    • IPOs
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    Trading Conditions
    • Max. Leverage : 200:1
    • Min. Spread : 0.6 pips
    • Currency Pairs : 93
  • Minimum Deposit
    USD 200
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    TRADING PLATFORMS
    • etoro
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Neteller
    • Unionpay
    • Skrill
    • Paypal
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 2.0 pips
    • Currency Pairs : 47
    AccountSpread FromCommissionExecutionMin. Deposit
    Standard1.0 pipsNoneMarketUSD 200 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    TRADING PLATFORMS
    • etoro
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Neteller
    • Unionpay
    • Skrill
    • Paypal
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 2.0 pips
    • Currency Pairs : 47
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TYPE OF BROKER

    ECN/DMA

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    TRADING PLATFORMS
    • MT4
    • MT5
    • IRESS
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    • Skrill
    • Neteller
    • Fasapay
    • BPay
    • paytrust88
    • POLi
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 50+
    AccountSpread FromCommissionExecutionMin. Deposit
    RAW0.0 pips$3.50STPUSD 100 Account Details
    Standard1.0 pipsNoneSTPUSD 100 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TRADING PLATFORMS
    • MT4
    • MT5
    • IRESS
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    • Skrill
    • Neteller
    • Fasapay
    • BPay
    • paytrust88
    • POLi
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 50+
  • Minimum Deposit
    USD 200
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Bonds
    • Futures
    TYPE OF BROKER

    ECN

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    TRADING PLATFORMS
    • MT4
    • MT5
    • cTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    • Unionpay
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 60
  • Minimum Deposit
    USD 50
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Bonds
    • Interest Rates
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    FCA FCA
    ASIC ASIC
    MAS MAS
    TRADING PLATFORMS
    • MT4
    • ATPro
    DEPOSIT METHODS
    • PayID
    • Bank Transfer
    • Visa
    • Mastercard
    • BPay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.7 pips
    • Currency Pairs : 84+
    AccountSpread FromCommissionExecutionMin. Deposit
    Professional0.5 pipsNoneInstantUSD 500000+ Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Bonds
    • Interest Rates
    TRADING PLATFORMS
    • MT4
    • ATPro
    DEPOSIT METHODS
    • PayID
    • Bank Transfer
    • Visa
    • Mastercard
    • BPay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.7 pips
    • Currency Pairs : 84+
  • Minimum Deposit
    USD 200
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TYPE OF BROKER

    ECN/STP

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    FCA FCA
    TRADING PLATFORMS
    • MT4
    • MT5
    • MT Supreme
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • POLi
    • Bitcoin
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 30:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 40+
  • Minimum Deposit
    USD 50
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TYPE OF BROKER

    Market Maker/STP

    REGULATED BY
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    • NinjaTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : Variable pips
    • Currency Pairs : 39
    AccountSpread FromCommissionExecutionMin. Deposit
    Standard1.3 pipsNoneSTPUSD 50 Account Details
    Active TraderNot Published pipsYesSTPUSD 25000 Account Details
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TRADING PLATFORMS
    • MT4
    • NinjaTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : Variable pips
    • Currency Pairs : 39
  • Minimum Deposit
    USD 5
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • WTIs
    TYPE OF BROKER

    ECN

    REGULATED BY
    FCA FCA
    ASIC ASIC
    DFSA DFSA
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 80+
    AccountSpread FromCommissionExecutionMin. Deposit
    MT4 Pro Account0.1 pips$7MarketUSD 5 Account Details
    MT4 Standard Account1.0 pipsNoneMarketUSD 5 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • WTIs
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bank Transfer
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 80+
  • Minimum Deposit
    USD 10
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    CySEC CySEC
    TRADING PLATFORMS
    • IQ option
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    Trading Conditions
    • Max. Leverage : 1000:1
    • Min. Spread : 1.1 pips
    • Currency Pairs : 57
    AccountSpread FromCommissionExecutionMin. Deposit
    Live AccountUnpublished pipsNoneInstantUSD 5 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TRADING PLATFORMS
    • IQ option
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    Trading Conditions
    • Max. Leverage : 1000:1
    • Min. Spread : 1.1 pips
    • Currency Pairs : 57
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TYPE OF BROKER

    STP

    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSA-Seychelles FSA-Seychelles
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • SticPay
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 60+
    AccountSpread FromCommissionExecutionMin. Deposit
    Classic1.6 pipsNoneMarketUSD 100 Account Details
    Pro0.0 pipsVariableMarketUSD 100 Account Details
    VIP0.0 pipsVariableMarketUSD 50000 Account Details
    TRADING INSTRUMENTS
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • SticPay
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 60+
  • Minimum Deposit
    USD 1000
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Equities
    • Bonds
    • Futures
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    FCA FCA
    TRADING PLATFORMS
    • MT4
    • MT5
    • AdvancedTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Unionpay
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 1.7 pips
    • Currency Pairs : 78
    AccountSpread FromCommissionExecutionMin. Deposit
    ProfessionalCustom pipsNoneInstant Volume Based Account Details
    Standard1.7 pipsNoneInstantUSD 1000 Account Details
    Premium1.4 pipsNoneInstantUSD 10000 Account Details
    Prime1.1 pipsNoneInstantUSD 50000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Equities
    • Bonds
    • Futures
    TRADING PLATFORMS
    • MT4
    • MT5
    • AdvancedTrader
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Unionpay
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 1.7 pips
    • Currency Pairs : 78
  • Minimum Deposit
    USD 5
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    • Indicies
    • Metals
    TYPE OF BROKER

    NDD Intervention Market Maker

    REGULATED BY
    CySEC CySEC
    FCA FCA
    IFSC IFSC
    TRADING PLATFORMS
    • MT4
    • xStation5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 49
    AccountSpread FromCommissionExecutionMin. Deposit
    Islamic0.28 pips$10.00InstantUSD 5 Account Details
    Pro0.28 pips$3.50InstantUSD 5 Account Details
    Standard0.35 pipsNoneInstantUSD 5 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    • Indicies
    • Metals
    TRADING PLATFORMS
    • MT4
    • xStation5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.1 pips
    • Currency Pairs : 49
  • Minimum Deposit
    USD 500
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    • Indicies
    • Equities
    TYPE OF BROKER

    ECN/STP

    REGULATED BY
    CySEC CySEC
    TRADING PLATFORMS
    • MT4
    • Sirix
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 60+
    AccountSpread FromCommissionExecutionMin. Deposit
    InstitutionalNot Published pipsNot PublishedMarket Volume Based Account Details
    Basic2.4 pipsNoneMarketUSD 500 Account Details
    Standard1.4 pipsNoneMarketUSD 5000 Account Details
    Advanced Mark-Up1.1 pipsNoneMarketUSD 10000 Account Details
    Advanced RAW0.0 pips$5.50MarketUSD 10000 Account Details
    Premium Mark-up0.8 pipsNoneMarketUSD 50000 Account Details
    Premium RAW0.0 pips$4.00MarketUSD 50000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Forex
    • Indicies
    • Equities
    TRADING PLATFORMS
    • MT4
    • Sirix
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 60+
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Vanilla Options
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Astropay
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 0.9 pips
    • Currency Pairs : 103
    AccountSpread FromCommissionExecutionMin. Deposit
    Standard1.9 pipsNoneInstantUSD 100 Account Details
    Premium1.4 pipsNoneInstantUSD 2000 Account Details
    VIP0.9 pipsNoneInstantUSD 10000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Vanilla Options
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Astropay
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 0.9 pips
    • Currency Pairs : 103
  • Minimum Deposit
    GBP 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TYPE OF BROKER

    ECN/STP

    REGULATED BY
    FCA FCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 68
    AccountSpread FromCommissionExecutionMin. Deposit
    Advanced Account1.4 pipsNoneSTPUSD 100 Account Details
    Copy Trading1.4 pipsNoneSTPUSD 500 Account Details
    Pro Account1.0 pipsNoneSTPUSD 5000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.0 pips
    • Currency Pairs : 68
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    CySEC CySEC
    FSC FSC
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Skrill
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 1.0 pips
    • Currency Pairs : 50+
    AccountSpread FromCommissionExecutionMin. Deposit
    Basic1.5 pipsNoneInstantUSD 100 Account Details
    RAW Spread0.0 pipsNoneInstantUSD 200 Account Details
    Black1.1 pipsNoneInstantUSD 10000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Skrill
    Trading Conditions
    • Max. Leverage : 400:1
    • Min. Spread : 1.0 pips
    • Currency Pairs : 50+
  • Minimum Deposit
    USD 100
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    TYPE OF BROKER

    Market Maker/ECN

    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 1.0 pips
    • Currency Pairs : 85
    AccountSpread FromCommissionExecutionMin. Deposit
    Live Fixed Spread2.2 pipsNoneInstantUSD 100 Account Details
    Live Floating Spread1.1 pipsNoneInstantUSD 100 Account Details
    Live Zero Spread0.0 pips$18InstantUSD 500 Account Details
    STP/ECN No Commission1.7 pipsNoneECN/STPUSD 500 Account Details
    STP/ECN Zero Spread0.0 pips$7.50ECN/STPUSD 500 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    • Fasapay
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 1.0 pips
    • Currency Pairs : 85
  • Minimum Deposit
    USD 250
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • PayFast
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.7 pips
    • Currency Pairs : 49
    AccountSpread FromCommissionExecutionMin. Deposit
    Gold1.3 pipsNoneInstant Not Disclosed Account Details
    Platinum0.7 pipsNoneInstant Not Disclosed Account Details
    Silver2.2 pipsNoneInstant Not Disclosed Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    TRADING PLATFORMS
    • MT4
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • PayFast
    Trading Conditions
    • Max. Leverage : 500:1
    • Min. Spread : 0.7 pips
    • Currency Pairs : 49
  • Minimum Deposit
    ZAR 2500
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Metals
    • Equities
    • Energies
    • ETFs
    • Bonds
    • Blends
    TYPE OF BROKER

    Market Maker

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    FSCA FSCA
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Paypal
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : 0.9 pips
    • Currency Pairs : 50+
    AccountSpread FromCommissionExecutionMin. Deposit
    LIve0.9 pipsNoneMarketZAR 1000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Metals
    • Equities
    • Energies
    • ETFs
    • Bonds
    • Blends
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Paypal
    Trading Conditions
    • Max. Leverage : 300:1
    • Min. Spread : 0.9 pips
    • Currency Pairs : 50+
  • Minimum Deposit
    USD 10
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TYPE OF BROKER

    Market Maker/ECN

    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSCA FSCA
    FSC FSC
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : Flexible
    • Min. Spread : 0.1 pips
    • Currency Pairs : 59
    AccountSpread FromCommissionExecutionMin. Deposit
    Cent Account1.5 pipsNoneInstantUSD 10 Account Details
    Standard Account1.3 pipsNoneInstantUSD 100 Account Details
    ECN Zero Account1.5 pipsNoneMarketUSD 200 Account Details
    ECN Account0.1 pips$2.00MarketUSD 500 Account Details
    FXTM Pro Account0.0 pipsNoneMarketUSD 25000 Account Details
    TRADING INSTRUMENTS
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    TRADING PLATFORMS
    • MT4
    • MT5
    DEPOSIT METHODS
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Trading Conditions
    • Max. Leverage : Flexible
    • Min. Spread : 0.1 pips
    • Currency Pairs : 59

Critical Factors In Choosing a Forex Broker

  • Regulation is a critical factor when choosing a broker. Make sure your broker is regulated by either the FCA, CySEC or ASIC. FSCA regulation is also important as this means any complaints you have will be resolved through the South African legal system.
  • Consider the different Account Types on offer at your broker, most brokers offer swap-free Islamic accounts, and some offer unlimited demo accounts to practice with.
  • Think about whether you want a ZAR Account rather than a USD Account. Not many brokers offer ZAR accounts, but they do save you money in conversion fees and guarantee that your money is deposited with a local bank.
  • Choose a Trading Platform and find a broker that supports that platform. MetaTrader 4 is a safe choice as it’s the industry standard and there is a multitude of online tutorials.
  • Choose what Broker Type you want. Some brokers offer commission-free trading and are known as dealing desk brokers or market maker brokers. Some brokers charge commission but have tighter spreads, these are known as non-dealing desk brokers or direct market access brokers.
  • Always check for additional Broker Fees that may be charged. We always highlight these in our reviews, but common ones are deposit and withdrawal fees and currency conversion fees.
  • Find a broker with the Trading Conditions that will support your trading strategy. Think about how much Leverage you want to have available; keeping it low (100:1 or less) is a good idea if you are still learning how to trade.

How To Choose A Forex Broker

Forex brokers should be measured by regulation, account options, platform choice, trading conditions, and beginner friendliness. 

Regulation

Regulators ensure that brokers have a fair trading environment and anti-money laundering processes, all the while operating strict auditing oversight and ensuring client fund protection. Brokers that are regulated by more than one major regulator are considered more trustworthy.

The major regulators are:

These international regulators are respected for their commitment to consumer protection, strong oversight and swift enforcement of sanctions on fraudulent brokers.

The South African regulator is called the Financial Services Conduct Authority (FSCA) and is the most credible regulator on the African continent.

A trustworthy broker should be regulated by at least one of the major regulators or the FSCA. Brokers that are regulated by more than one regulator are considered more reliable.  

Be wary of brokers who are only regulated by small island states like St Vincent, Bermuda and the Cayman Islands. These regulatory agencies are not as well regarded as the major international regulators as they give more leniency to brokers and less coverage for traders.

Also, be cautious of brokers who have just moved to South Africa. With the recent tightening of European and Australian regulations, several questionable brokers have moved into South Africa recruiting for traders.

Account Types

Each brokerage will have various account types, and there is a trend in the industry to have fewer account types available than in years past. The primary distinction between account types is between the Live accounts, Demo accounts, and Swap-free accounts. Managed accounts are available, but rare.

Live Accounts

These accounts use real money, and everything that you do in this type of account will affect your profit or loss.

Demo Accounts

These are accounts loaded with virtual money and do not expose a trader to any risk. Demo accounts allow traders to test the trading platform, customer service, research area, and trading conditions before committing real money. Most demo accounts are time-limited but are easy to reactivate. These are the best demo accounts.

Swap-Free (Islamic) Accounts

Islamic accounts, or swap-free accounts, are an optional trading account type which allows Forex traders to be compliant with the principles of Sharia law. In Sharia law, interest on loans is prohibited, so swap-free accounts don’t earn overnight interest on open positions.

Managed Accounts

Select brokers will operate a managed account for you, but it is rare. There are independent money managers who can manage your account while they are trading for themselves. It is vital that you read our article on managed accounts and understand the minimum deposit requirements and additional risks involved when trading CFDs.

Foreign currency (USD, EUR, GBP) or ZAR accounts?

Generally, having a ZAR account is a good thing; you will avoid any broker conversion fees and the currency conversions that banks and credit card companies charge when making a wire deposit or withdrawal. 

Brokers with ZAR accounts usually use South African bank accounts, where withdrawals and deposits are much faster and often happen instantly. With a USD account at an international broker, this will not always be the case.

Platform Choice

When it comes to choosing a broker to trade with, deciding on the right platform can make a substantial difference to a trading career. That said, your broker should support a platform you are comfortable using.

While a minority of brokers have proprietary platforms, others use mainstream trading platforms like MetaTrader and cTrader. 

MetaTrader 4 and 5 are the most common CFD trading platforms; however, MetaTrader’s older interface and complex setup make it less accessible to beginners. cTrader, on the other hand, has a more modern interface and is easier for beginner traders to set up.

If you are an experienced trader with a particular software choice in mind, or if you are a beginner seeking to learn more about platform options, we have put together a list of the best Forex trading platforms for traders and the brokers that support them.

All brokers have mobile trading apps, and some will have developed proprietary apps, but a vast majority rely on the MetaTrader software for IOS and Android.

Types of Forex Brokers

Forex brokers fall into two main categories – Direct Market Access (DMA) brokers and Market Maker brokers.  

Each broker category can be split into two subcategories. DMA brokers are divided into subcategories called ECN and ECN/STP, and market makers can have a dealing desk (DD) where the broker can alter trades before they are executed.  

Pure ECN Brokers

In the DMA category, a Pure ECN (or Electronic Communication Network) broker, will never interfere with your trade, and the only source of liquidity comes from other members of the network. ECN execution will mean that if there is no liquidity in the market, your trade will have slippage, and you may get a requote. 

Pure ECNs are entirely free of conflict of interest, but traders should expect requotes, and slower trade execution speeds. The top ECNs brokers are:

BrokerMin. DepositMin. Spread
HotForexUSD 50.0 pips Visit Website
Read Review
OctaFXUSD 500.0 pips Visit Website
Read Review
XTBUSD 50.1 pips Visit Website
Read Review
IronFXUSD 1001.0 pips Visit Website
Read Review

ECN (Electronic Communications Network) brokers usually place your orders directly through to third-party liquidity providers, usually large financial institutions or global banks. In a pure ECN environment, traders have direct access to interbank market prices and an accurate picture of the entire trading environment.

STP/ECN Brokers

An ECN/STP broker is an ECN broker using Straight Through Processing (STP) to place trades. With STP your order is sent directly to the counterparty through the Financial Information Exchange (FIX) protocol. The FIX protocol decreases trade execution time, reduces slippage and ensures that traders get the best available pricing. Some ECN/STP brokers will be counterparty to your trade to prevent requotes and reduce slippage.

Depending on the trader profile, or the trade itself, an ECN/STP broker will decide which execution method is in the best interest of the customer.

If there is liquidity available for a particular trade, then STP execution could be used.  But if it is better for liquidity to be taken from within the network, then ECN will be used.

This combination of execution types is intended to be able to help traders get liquidity and to execute trades faster. The top ECN/STPs are:

BrokerMin. DepositMin. Spread
Khwezi TradeZAR 20000.6 pips Visit Website
Read Review
TrioMarketsUSD 5000.0 pips Visit Website
Read Review
Capital IndexGBP 1000.0 pips Visit Website
Read Review

Market Makers

Market Makers, also called Dealing Desks, operate in a very different way. Instead of executing the trade on the market, market maker brokers are counterparty to the trade, and become, for all intents and purposes, the market. The top Market Makers are:

BrokerMin. DepositMin. Spread
IG MarketsUSD 2500.6 pips Visit Website
Read Review
AvaTradeUSD 1000.9 pips Visit Website
Read Review
XMUSD 50.1 pips Visit Website
Read Review
CM TradingUSD 2501.5 pips Visit Website
Read Review

While this means that there will always be liquidity for any trade, being the counterparty implies that the broker is always trading against its client base and that it profits directly from the client’s losing trades. This opens up a direct conflict of interest.

Trading Conditions

Spreads

The spread, set by the broker and measured in pips, is the difference between the buy and sell price of a currency pair. This is the broker’s fee for providing access to the market and it gives traders and idea of how profitable their trades could be.

A trader can also tell from the spread if the buy and sell prices for a currency pair are far apart (wide) or close together (tight). If the spread is 15 pips, that is considered a wide spread, where a 0.4 pip spread is deemed to be tight.

Spreads on currency pairs differ between brokerages, so to maximise profits, a trader should always find a broker who has the tightest average spreads on the pairs they trade. If you are trading with market execution, remember that a per lot commission will be charged in conjunction with the spreads.

Leverage

Leverage is capital borrowed from a liquidity provider, via your broker, to amplify the volume of a Forex trade. Leverage is essential in Forex trading because the movements of the market are so small that if there were no way to increase the size of the trade, it would be near impossible for individual retail traders to profit from their trades.

Leverage is presented in a ratio format, e.g. 300:1 – in this case, a trader can increase the size of a trade by a maximum amount of 300 times. It’s important to remember that you will remain liable for all losses on the total leveraged amount of the trade.

Using high volumes of leverage dramatically increases the exposure of the trader to risk, which has led to some regulatory bodies like CySEC restricting leverage to 30:1 for retail traders. The maximum leverage offered varies among brokers, and some may also limit a client’s leverage based on their trading experience.

Trading Assets

A large broker will have many different assets available to trade, including Forex CFDs, cryptocurrencies, equities, commodities, precious metals and bonds. A good Forex broker should have 50+ FX pairs.

Scalping

A Forex scalping strategy is where a trader seeks to profit from sizeable rapid price changes in a short period. Scalping opportunities are usually created when significant unexpected news event happens, or when the equity markets open. A scalper, a trader who employs a scalping strategy, enters and exit trades several times a day, and closes all trades on the day they were opened.

Hedging

Hedging is protecting yourself against adverse price movements that would affect open trades and can be seen as a form of insurance. Direct hedging is a common hedging strategy, where a trader buys a currency pair and then sells the same pair at the same time. Not all brokers allow hedging on their platforms, but most DMA brokers do.

FAQs

I am a beginner trader, what should I look for in a broker?

As a beginner trader, choose a broker with an unlimited demo account, as this will give you the opportunity to practice before making a deposit. Limited demo accounts usually expire after 1-3 weeks, which is not enough time to learn how to profit from CFD trading.

Beginner traders should get educational support when starting, and each broker varies significantly in what material they provide. The minimum you should accept is some general videos and articles, but some brokers have invested in creating small trading universities that include video material as well as live webinars hosted by experts.

Each of our reviews has a section on the educational content to help beginner traders decide the best path forward.

How do I know I can trust a Forex broker?

Four things should be considered when determining if a broker may be trusted – regulation, trade execution method, client funds management, and industry recognition of their achievements.

The more major regulators the broker group is regulated by, the more oversight the group has. The number of regulators overseeing their processes gives a strong indication of the level of trust the government regulatory agencies have in them.

It is more of a concern if fewer major regulators regulate a market maker. Therefore, a heavily regulated market maker is considered more reputable than one with lesser regulation. It is noteworthy that some market makers have strong reputations and lots of client resources.

The execution method of trades is another component because if the broker profits from your loss – as is the case with market maker brokers – this can be seen as making the broker less trustworthy.

Most regulators require strict processes to keep client funds safe. This process includes placing client funds in segregated accounts at major banks in the local jurisdiction. Segregated bank accounts that are audited every evening means that client funds are protected against any bankruptcy.

Industry awards are given to brokers from journalists, financial watchdog organisations and their peers. While it can be argued that these award ceremonies are biased, they remain the best gauge industry recognition.

Do brokers trade against you?

If the broker is a market maker, then they are the market and will be trading against you by being the counterparty to your trade to create the liquidity you need. Since a vast majority of trades by retail traders are lost, a market maker is making money in most client trades. DMA brokers do not have any conflict of interest and do not trade against you.

How do brokers make money?

Market Makers will make money only from the spread – the difference between the buying and selling price of the currency pair. Since a Market Maker will become the counterparty to any trade, they will also make money when clients lose trades.

DMA brokers will make money from a tight spread and a commission, which is calculated on a per lot amount.

How to deposit with a broker?

Each broker is going to have different deposit methods, but all will have a deposit by credit/debit card and bank transfer option. Some will accept regional payment methods, but local deposit methods have not yet been adopted in South Africa. On occasion, brokers will accept Bitcoin deposits, and PayPal in addition to standard currency.

Which broker should I choose?

Traders have different requirements of Forex brokers, and thus there is no single best choice. This is how we compare them, and we offer insight into your choices. At the top of this article, there is a list of those that we believe are the best brokers for traders based on their reputation, platform, trading conditions and resources available to beginners.

How can I report scam brokers?

If you believe you have been scammed by your broker, the first thing to do is warn others and tell your story.  We have a report a scam broker form which we use to gather information so that we get the word out.  If you have been scammed, please complete the form.

Resources

These documents were used in the inspiration, research and data collection for this article.

FSCA Annual Report 2018 (pdf - 202 page)

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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