7 Best Forex Brokers in South Africa for Beginners

Avatrade

AvaTrade is an Irish broker that was founded in 2006 and is regulated by numerous reputable authorities. Avatrade offers only a few account types, some for residents of the European Union, others for those outside the European Union. Avatrade provides the MetaTrader 4, MetaTrader 5, a proprietary and Web-based platform, to be used with a maximum leverage of 1:400 for trading Forex, CFDs, Commodities, Metals, Oil, Gold and Indices.

Plus500

Plus500 is a CFD broker founded in 2008 and operates out of Israel as a FTSE 250 listed brokerage authorised and regulated by the FCA, CySEC, ASIC, FMA, FSB and MAS to offer CFDs, Crypto, Indices, Forex, Commodities, Shares Options and ETFs. Plus500 provides traders with only its own proprietary trading platform, and has the same CFD account for all traders, while a professional account is available if some requirements are fulfilled. You might like: The BEST regulated 27 Forex Brokers in South Africa

Exness

Exness was founded in 2008 and is registered and authorised in Seychelles by the FSA, in Cyprus by CySEC and the FCA in the United Kingdom. The broker offers MT4 and MT5 and a WebTerminal as trading platforms, with more than 130 currency pairs, metals, cryptocurrencies, energies and Indices as trading instruments.

Tickmill

Tickmill brokerage is a member of the Tickmill Group, which is regulated by the Seychelles Financial Services Authority (FSA) as well as the Financial Conduct Authority (FCA) in the UK. Tickmill offers three different live accounts and a demo account with different trading conditions for every account type and initial deposit. Tickmill provides its own proprietary WebTrader and MetaTrader 4 and traders have access to forex currency pairs, stock indices and oil, precious metals, and bonds as trading instruments.

XM.com

XM.com is an online global broker founded in 2009 with the head office in Cyprus and is regulated under the IFSC of Belize, CySEC, and the Australian ASIC. XM.com has more than 2 500 000 clients from 196 countries but traders from United States, Canada, Israel or Iran cannot use XM.com. XM.com offers more than 25 secure payment methods, 16 full feature trading platforms and 24/5 personal customer service. XM.com offers MT4 and MT5 and the XM WebTrader for Windows or Mac, browser-based applications and applications for smartphones. With XM.com, clients can trade more than 1000 instruments. Open a FREE TRADING account

CM Trading

CM Trading is based in Johannesburg, the financial capital of South Africa, and is regulated by FSCA. CM Trading provides both MetaTrader 4 and Sirix WebTrader platforms enabling traders to trade Forex, Index and Commodities, including Cryptocurrencies. CM Trading is often seen as the largest in Africa and offers competitive spreads and the CopyKat copy-trading system. The broker offers a maximum leverage of 200:1.

Markets.com

Markets.com was created in 2008 as part of the TradeTech Group, a constituent of Playtech, a FTSE 250 listed company. The broker has its head offices in Nicosia, Cyprus and is regulated by the Cyprus Securities and the South African Financial Sector Conduct Authority (FSCA). The broker offers Marketsx, as a fast, reliable trading platform, a mobile platform and automated trades with MT4 and MT5 platforms. Traders have access to Indexes (42), Bonds (4), Blends (23), commodities (26), Currencies (67), ETFs (59) and Cryptos (6) as trading instruments.