Forex Trading Brokers List in South Africa

Forex Brokers in South Africa

Recently, South Africa showing a significant increase in trading activity that happened for several reasons besides that South Africa as a very developed country’s economic system constantly shows its growth and is among the most progressive in the region.

While
the financial markets are still in the development
stage in South Africa, the sector is very liberated and shows great potential that increases its demand through international Brokers.

  • Many of Forex
    Brokers from South Africa
    are eventually some of the
    world-known Brokers
    that were attracted by the relatively easy limitations and the destination’s promising opportunities.

Forex Trading Regulations in South Africa

The good news and obvious benefits of
South Africa is that Forex is regulated with greater protection against malicious companies
due to its laws and regulations applied. Particularly through an established national regulator FSCA that also brings a legal and safe way to operate brokerage. Moreover, we would mention that regulation took a quite serious and well-organized path in South Africa, following the successor to the previously known FSB.

The abovementioned tasks are now performed by the
FSCA – Financial Sector Conduct Authority, Website: www.fsca.co.za Where FSCA is in charge of the licensing of financial companies and trading Brokers, and monitor developments to comply with the relevant legislation and customers’ protection rights.

  • FSCA was formed in 2018 and for now is among leading world authorities with sharp international standards, overseeing and control over the proposals. Read more about the FSCA establishment through Wikipedia.
  • Before the launch and legit status in South Africa,
    every brokerage firm should obtain an FSCA license
    that guarantees a balanced framework and safe trading environment governed by the FSCA.
Read:  How Do I Start Trading Forex

You can check broker details through an official website and see company records to verify conditions, also we would also recommend following FSCA official Twitter to stay updated with recent news and warnings @FSCA_ZA

South Africa FSCA website

Best Forex Brokers in South Africa

To find and select Top Forex Brokers you should define your own need, along with the strategy, level of experience and conditions that may be offered by the broker.

The important note about regulation is already covered here are we create a list solely based in South Africa Regulated Forex Brokers, where below you can see listing created according to the specified criteria and its High Scores.

  • BDSwiss– Best Overall Broker in South Africa 2022
  • BlackBull Markets– Lowest Spread Broker in South Africa 2022
  • HFM– Best MT4 Broker in South Africa 2022
  • FP Markets – Best Broker for Beginners in South Africa 2022
  • Pepperstone – Best for Scalping and EA Trading Broker 2022

Who are South Africa Brokers?

Many well known international Brokers with good regulation operate entities in South Africa and available for almost all African region.

However,
there are still many
unregulated forex brokers

that are in Fake forex brokers list South Africa.


These brokers
target local population mainly due to their lack of good knowledge about investments. Thus you should be extremely careful while choosing the South African broker to trade with and follow strict criteria based on the legit status of the Brokers as first.

What are best Forex Trading sessions in South Africa time?

Forex trading is available around the clock due to time differences, so major financial centers opening one after another. The best time for trading is mainly depend on the instrument you trade, since European and US market opening hours are considered the most active and volatile.

Read:  How Forex Trading Works in South Africa

South Africa Forex Brokers List

These are the regulated brokers that accept clients from South Africa:

Broker Detail
BDSwiss Review
BDSwiss

Min. Deposit: 100 US$

Max. Leverage: 1:500

Trading Platforms: MT4, MT5, BDSwiss Webtrader and Mobile App

Regulation: FSC, FSA

1

BDSwiss Review

BlackBull Markets logo
BlackBull Markets

Min. Deposit: 200 US$

Max. Leverage: 1:500

Trading Platforms: MT4, MT5

Regulation: FMA, FSA

2

BlackBull Markets Review

FPM logo
FP Markets

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: IRESS, MT4, MT5

Regulation: ASIC, CySEC

3

FP Markets Review


Pepperstone

Min. Deposit: 200 US$

Max. Leverage: 1:30 to 1:400

Trading Platforms: MT4, MT5, cTrader, TradingView

Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN

4

Pepperstone Review


HFM

Min. Deposit: 5 US$

Max. Leverage: 1:30 | 1:1000

Trading Platforms: MT4, MT5

Regulation: CySEC, FCA, DFSA, FSCA, FSA

5

HFM Review


Axiory

Min. Deposit: 10 US$

Max. Leverage: 1:777

Trading Platforms: MT4, MT5, cTrader

Regulation: FSC, FSC

Axiory Review

FBS

Min. Deposit: 1 USD

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, FBS trader, CopyTrade

Regulation: CySEC, FSC, FSCA, ASIC

FBS Review

Eightcap

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5

Regulation: ASIC, SCB

Eightcap Review

TMGM

Min. Deposit: 100 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4, MT5, IRESS

Regulation: ASIC, FMA

TMGM Review
FXCC Review
FXCC

Min. Deposit: No minimum deposit

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4

Regulation: CySEC, VFSC

FXCC Review

Forex Trading Brokers List in South Africa

Source: https://55brokers.com/forex-brokers-south-africa/

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