Best South African Forex Brokers

1. Trade Nation South Africa

Pros

• $1 minimum deposit broker
• Low spread on most instruments
• Access to TradingView charting platform
• FSCA license to operate in SA
• Leverage is 1:500 maximum (discourages over-trading)

Cons

• High minimum withdrawal of R500

2. RCG Markets

Pros

• R50 minimum deposit broker
• Micro account (best for beginners)
• FSCA license to operate in SA
• Deposit bonus
• No minimum withdrawal limits

Cons

• Some account types have leverage as high as 1:2000
• No mobile app found on google & apple online stores

3. Headway Broker

Pros

• $1 minimum deposit broker
• Micro account (best for beginners)
• FSCA license to operate in SA
• No-deposit bonus (you get a bonus even without making a deposit)
• No minimum withdrawal limits

Cons

• Leverage as high as 1:2000 can encourage over-trading

4. Just Markets South Africa

Pros

• Low spread broker
• Micro account (best for beginners)
• FSCA license to operate in SA
• Bonus is given on deposits made

Cons

• Leverage as high as 1:3000 can encourage over-trading

5. FxPro South Africa

Pros

• FSCA license to operate in SA
• TradingView access for cTrader accounts only
• Wide range of trading apps/software to choose from
• No minimum withdrawal limit

Cons

• Leverage as high as 1:10,000 can encourage over-trading
• High spread

6. Tickmill South Africa

Pros

• FSCA license to operate in SA
• TradingView access for raw spread accounts only
• Broad range of markets
• Bonus on deposits

Cons

• No instant withdrawals

7. IFX Brokers

Pros

• FSCA license to operate in SA
• No minimum deposit
• No minimum withdrawal
• Micro account

Cons

• Only two withdrawals per day
• No TradingView
• No cTrader

Frequently Asked Questions

Which broker is best for a ZAR account?

Trade Nation and IFX brokers are best for a ZAR account because they support various local South African payment methods.

Which broker allows R100 deposits?

Headway, RCG Markets and Trade Nation are brokers that allow you deposit as low as R100 into your trading account.

Which broker gives free bonus without deposit

Headway broker gives you a free no-deposit bonus worth $111, even when you have not made any deposit. To access the bonus, just open a Headway bonus account and you will be credited with the bonus,

Any profits you make from trading with the bonus can be moved to your main live account when you open it.

Which broker has no minimum deposit?

IFX brokers is one of the South African brokers that does not have a minimum deposit requirement.

Which brokers offer micro accounts?

RCG Markets has a micro account which is a type of account where you cannot trade more than 0.01 lot size. Another broker that has micro account is Just Markets.

Which broker uses cTrader?

FxPro and Tickmill are regulated South African brokers that offer cTrader as part of their trading platforms. Both FxPro and Tickmill require you open a raw spread account type before you can access cTrader.