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Trading Conditions
Account Types
Trading Platforms
Regulators

Here are the best brokers with ZAR Accounts in 2020

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Trading Experience
Trading Conditions
Account Types
Trading Platforms
Regulators
  • 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
    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 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+

All Forex Brokers in South Africa

Why should I have a ZAR Account?

Many brokers in South Africa still only offer USD or EUR accounts. This is mainly due to a lack of ZAR liquidity providers, but also because internationally-based brokers have their costs priced in USD and do not want to take on the exchange rate risk associated with ZAR accounts.

If you do have a foreign currency account at your broker, then conversion fees or the fluctuating exchange rate can eat into your profit margin before you even start trading. International brokers will often charge a wide spread on the exchange rate from ZAR to USD and if you ask your bank or credit card company to make the currency exchange you can lose 7-10% of the value of your deposit through fees and poor fixed exchange rates.

Some traders do want to have a USD account, especially high equity traders who keep many positions open simultaneously. With this approach to trading with a ZAR account, the fluctuations in the exchange rate would impact your profit margins.

But for most traders, this is not an issue. Generally, choosing an account currency which is the same as your home currency is a good thing; you will avoid any broker conversion fees, and you will also avoid the large conversion spreads that banks charge when making a wire deposit or withdrawal. Fund transfers are also much quicker between local banks, so deposits and withdrawals can generally be made instantly or within 24 hours.

Another benefit of having a ZAR account is that your funds will be kept in a South African bank and will be accessible to you in the event of your broker going into liquidation. With a USD account at an international broker, this will not be the case: Even if your funds are kept in a segregated account, they will be kept in a segregated account in another country.

One thing to keep in mind with a ZAR account is whether your broker charges commission on trades – most ECN brokers do – and what currency the commission is charged in. If you have a ZAR account and are being charged a USD commission for every trade you make, you will be losing a small amount of every trade in currency conversion and this will add up over time. Most brokers with ZAR accounts will charge the commission at a fixed rate in ZAR but do check this first.

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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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