South African Forex Brokers
South African Forex Brokers
We have reviewed numerous forex brokers, there are 3 brokers which have met our quality guidelines and accept residents of South Africa. We recommend the following:
While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector offering services around the world.
A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced traders alike.
The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.
Forex.com is one of the most longstanding brokers in the industry. They have been providing access to the forex market for traders since 2001. They now operate on a worldwide scale providing service to traders in more than 150 countries. They are also one of the few major forex brokers to offer services to US-based traders.
To match their worldwide service availability, the broker is also regulated by numerous top-tier regulatory bodies including some of the most respected in the industry. There is trusted regulation in place in both the US and Canada too which helps protect traders based there. The brokers reputation for transparency and trust, combined with a strong product offering and excellent trading costs, put it in prime position at the head of a very competitive sector.
Forex trading involves significant risk of loss and is not suitable for all investors.
XM was founded in 2009. Within the period that has passed, they have managed to become one of the most instantly recognizable names in forex trading. This is not only due to their excellent regulatory compliance worldwide, they are regulated by both CySEC, and ASIC, as well as two other top-tier regulators, but also the fact they provide an accessible trading environment to traders all around the globe.
The broker caters for the needs of the forex market in more than 196 countries. This makes them one of the most available brokers in the industry to all levels of trader. Couple this with an exceptional education section, and a great variety of assets to trade in, and you have a winning combination with XM.
What is the FSCA?
South Africa’s Financial Sector Conduct Authority (FSCA) is responsible for market conduct regulation and supervision. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education.
Do these brokers accept clients from South Africa?
While we feature many forex brokers on this website, only the brokers featured on this page currently accept clients from South Africa.