Forex Trading Companies in Cape Town

Best Forex Brokers In South Africa 2022

South Africa is a hub for forex trading with local regulation by the Financial Services Conduct Authority. To determine the best FSCA South African forex broker, the team compared fees, platforms and the features that impact fx trading the most.

Written by

Justin Grossbard

With over 20 years investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 2014. He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. He has an Honours in Commerce and Masters degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.

Updated:

What Changed?

Each month we update average spreads data published by the brokers the retail brokers lose %



Fact Checked

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Best Forex Brokers In South Africa

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The Top 8 South African Forex Brokers

Here are the Dec 2022 best forex brokers in South Africa by fx trading category


74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider

71% of retail investor accounts lose money when trading CFDs with this provider

77% of retail CFD accounts lose money

77% of retail investor accounts lose money when trading CFDs with this provider

66% of retail investor accounts lose money when trading CFDs with this provider

Regulations and Licenses

Brokerage

EUR/USD Avg. Raw Spread

0.17

0.3

0.3

0.22

GBP/USD Avg. Raw Spread

0.59

0.4

0.5

0.80

AUD/USD Avg. Raw Spread

0.24

0.5

0.5

0.40

EUR/USD Standard Spread

0.75

0.90

1.9

EUR/USD Fixed Spreads

0.90

Commissions (USD Base)

$3.50

$2.00

$3.00

Minimum Deposit

$0

$100

$100

$500

$300

Funding Methods

16+

7+

3+

13+

8+

Markets and Instruments

Currency Pairs

62+

55+

71+

63+

42+

Cryptocurrency CFDs*

12+

15+

15+

7+

Index CFDs

14+

33+

67+

11+

13+

Share CFDs

300+

625+

1816+

180+

15+

Commodities CFD

9+

30+

22+

7+

12+

Stockbroking

10+

Retail Max. Leverage (South Africa)

Major Pairs 30:1

Minor Pairs 20:1

Balance:

0-50k 400:1

50k+ 200:1

Pro. Max. Leverage (South Africa)

400:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Unique Feature

Smart Trader Tools

Choice of social trading tools

Trade cannabis index

Floating leverage

Large range of trading platforms

Overall

Our Rating

9.33

8.33

5.83

6

7.93


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Forex Trading Companies in Cape Town

Source: https://www.compareforexbrokers.com/best-forex-broker/south-africa/

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