By Jeffrey Cammack Author Information Updated: June 9, 2020

While it is common for brokers to accept credit card deposits and bank transfers, but few brokers have PayPal as an option to make deposits.  In recent years, PayPal has tried to reduce the number of payments they make to Forex brokers, but some brokers keep it as an option.    

This is our shortlist of regulated brokers who do accept PayPal deposits from South African clients. 

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  • Broker
    Plus500

    Plus500  - Best PayPal Broker

    REGULATED BY
    FCA FCA
    CySEC CySEC
    ASIC ASIC
    MAS MAS
    Trading Desk Type
    Trading Conditions
    11100
    Minimum Deposit
    ZAR 1500
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms
    • Plus500

    A London-based broker with a single account, Plus500 keep things simple and straightforward. Plus500 only allows trading on its own platform, but this is easy to use, quick for new traders to learn and is a big name in the industry.  

    With a minimum deposit is 1500 ZAR, Plus500 has deposit options that include PayPal and Skrill as well as the usual bank transfer and credit card options.  Customer support is open 24/7, which makes following up on deposits and account changes simple at all times of day.

    Pros

    • Well regulated
    • Wide range of assets

    Cons

    • Limited education
    • Limited account options
    AccountSpread FromCommissionExecutionMin. Deposit
    Standard0.7 pipsNoneInstantUSD 100 Account Details
  • Broker
    Pepperstone

    Pepperstone  - Most Trusted Broker

    REGULATED BY
    FCA FCA
    ASIC ASIC
    DFSA DFSA
    Trading Desk Type
    Trading Conditions
    11110.5
    Minimum Deposit
    USD 200
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms

    Pepperstone is a leading Australian ECN/STP Forex broker who has recently started gaining a lot of international recognition for their quality of service, culminating in winning the award for Best Forex ECN broker 2018 at the UK Forex Awards 2018.

    Supporting MT4, MT5 and cTrader - more than most other brokers - Pepperstone has two straightforward account types with a minimum deposit of 200 USD.  Deposits with major credit cards, bank transfer and PayPal and Skrill are accepted.  While fees vary per transfer method, PayPal deposits are free but any withdrawal amount above the initial deposit amount will have a 3% commission charged by PayPal.

    Pros

    • Well regulated
    • Tight spreads
    • Great platform choice
    • Wide range of assets

    Cons

    • High minimum deposit
    • Limited market analysis
    AccountSpread FromCommissionExecutionMin. Deposit
    Razor0.0 pipsAUD$ 7ECNUSD 200 Account Details
    Standard1.0 pipsNoneECNUSD 200 Account Details
    Swap-free1.0 pipsNoneECNUSD 200 Account Details
  • Broker
    MarketsX

    MarketsX  - Best Trading Conditions

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    FSCA FSCA
    Trading Desk Type
    Trading Conditions
    11110.5
    Minimum Deposit
    ZAR 2500
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms

    Marketsx is a premium trading platform. It’s operated by Markets.com and offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on global stock, forex, commodity, indices, cryptocurrency, ETF and bond markets.  Deposits and withdrawals can be made securely using major debit and credit cards, bank wire transfer, and leading payment services such as Neteller, Skrill, and PayPal.

    The proprietary Marketx trading platform is packed full of features and trading tools and is optimised for lightning execution. As well as in-depth charting and asset comparison tools, Marketsx also gives traders a wealth of decision-supporting data with sentiment tools, tutorials, and regular live-streamed, expert analysis.

    Pros

    • Well regulated
    • Tight spreads
    • Wide range of assets
    • Fast and free withdrawals

    Cons

    • High minimum deposit
    AccountSpread FromCommissionExecutionMin. Deposit
    Live0.9 pipsNoneInstantUSD 250 Account Details
  • Broker
    IG Markets

    IG Markets  - Most Assets Available

    REGULATED BY
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    Trading Desk Type
    Trading Conditions
    11110.5
    Minimum Deposit
    USD 250
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms

    As the world’s largest financial spread betting and CFD broker by revenue, and winning highly-acclaimed awards such as Broker of the Year 2018 (UK Forex Awards) and Best CFD Provider 2017 (Investment and Wealth Management Awards), IG Markets is an attractive choice for both the beginner and the seasoned trader.

    With regulation from the FCA, ASIC, and the FSCA, award-winning technology and over 195,000 clients worldwide IG Markets is a principal player in the CFD, Forex trading and spread betting industries.

    Pros

    • Well regulated
    • Tight spreads
    • Great platform choice
    • Excellent education
    • Excellent market analysis

    Cons

    • High minimum deposit
    AccountSpread FromCommissionExecutionMin. Deposit
    Live Account0.6 pipsNoneInstantUSD 250 Account Details
    Spread Betting0.6 pipsNoneInstantUSD 250 Account Details
  • Broker
    FP Markets

    FP Markets  - Best Education

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    Trading Desk Type
    Trading Conditions
    11110.5
    Minimum Deposit
    USD 100
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms

    FP Markets is an ASIC-regulated, STP broker with simple account options and an exciting set of tools for traders with higher minimum deposits. Spreads are tight, even on the Standard Account, and the lack of dealing desk intervention for all accounts removes any concern over conflict of interest.

    Trader education and market analysis are slightly weaker than other brokers, but the material presented is well-structured and useful. Overall, FP Markets is an excellent choice for beginner and more experienced traders alike.

    Pros

    • Well regulated
    • Tight spreads
    • Good range of accounts
    • Great customer support

    Cons

    • Expensive withdrawals
    AccountSpread FromCommissionExecutionMin. Deposit
    Standard IRESSN/A pips$10 AUD min, then 0.1%STPUSD 1,000 Account Details
    Platinum IRESSN/A pips$9 AUD min, then 0.09%STPUSD 25,000 Account Details
    Premier IRESSN/A pipsNo min, then 0.08%STPUSD 50,000 Account Details
    RAW0.0 pips$3.50STPUSD 100 Account Details
    Standard1.0 pipsNoneSTPUSD 100 Account Details
  • Broker
    IC Markets

    IC Markets  - Best Trading Platforms

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    Trading Desk Type
    Trading Conditions
    11110.5
    Minimum Deposit
    USD 200
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms

    A hugely respected ECN broker, IC Markets has invested heavily to provide traders with the lowest spreads and fastest execution speeds possible - and has seen huge success as a result. ASIC and CySEC regulated and with support for MT4, MT5 and cTrader, this broker is serious about providing the best possible trading environment for its client base. 

    Headquartered in downtown Sydney, IC Markets represents the best of the Australian Forex industry; beginner traders will welcome IC Markets' simple account structure and responsive and informed customer service; the company understands customer retention involves a combination of tight spreads, cutting edge technology, fast trade execution and specialised support. 

    Pros

    • Well regulated
    • Tight spreads
    • Wide range of assets
    • Great platform choice

    Cons

    • High minimum deposit
    • Limited market analysis
    AccountSpread FromCommissionExecutionMin. Deposit
    RAW - cTrader0.0 pips$3.00MarketUSD 200 Account Details
    RAW - MetaTrader0.0 pips$3.50MarketUSD 200 Account Details
    Standard - MetaTrader1.0 pipsNoneMarketUSD 200 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    Trading Desk Type
    Trading Conditions
    11000
    Minimum Deposit
    USD 200
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms
    • etoro

    Founded in 2007, eToro are renowned as founders of the social trading methodology and its platform has won multiple awards for innovation.

    The social component, which sits at the centre of the platform, seeks to inspire and encourage traders. eToro also believes that making its community of 6 million traders integral to the platform creates transparency and makes the overall experience more enjoyable. As cryptocurrencies have become more popular, eToro has introduced a wide variety of cryptocurrency CFDs to traders.

    eToro has succeeded in making trading more accessible to the beginner trader, but only by completely upending the traditional broker space.

    Pros

    • Well regulated
    • Good for beginners
    • Innovative trading tools

    Cons

    • Limited education
    • Wide spreads
    AccountSpread FromCommissionExecutionMin. Deposit
    Professional1.0 pipsNoneMarketEUR 200 Account Details
    Standard1.0 pipsNoneMarketUSD 200 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    IFSC IFSC
    Trading Desk Type
    Trading Conditions
    11110.5
    Minimum Deposit
    USD 5
    Customer Support
    • Website Language: English
    • Support Language: English
    Trading Platforms

    Well-regulated, safe and award-winning, XTB is a leader in the Forex trading space. Joining other leading Forex brokers with reasonable trading conditions, excellent educational and analysis material XTB has developed an award-winning proprietary trading platform that goes beyond MT4 to offer clients easy-to-use functionality along with fast execution speeds.

    Pros

    • Well regulated
    • Tight spreads
    • Low minimum deposit
    • Good for beginners

    Cons

    • Limited platform choice
    AccountSpread FromCommissionExecutionMin. Deposit
    Islamic0.28 pips$10.00InstantUSD 5 Account Details
    Pro0.28 pips$7.00InstantUSD 5 Account Details
    Standard0.35 pipsNoneInstantUSD 5 Account Details

All Forex Brokers in South Africa

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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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