28 Jun 7 Best Forex Brokers In South Africa For 2025

They have local Internet banking transfer option for deposits & withdrawals, with all major banks supported. But some users have complained about issues with their withdrawals at Exness & //www.tradingview.com/ high currency conversion charges for local withdrawals (see our cons below). We have compared & listed the best forex brokers for South African traders. Our beginner’s guide provides excellent resources for newer traders and will introduce you to forex brokers that are great for beginner forex traders.

Best Forex Traders in South Africa (

IG Group stands out as a trusted and versatile africa gold capital broker, suitable for traders of all experience levels who seek a comprehensive and regulated trading environment. Yes, HFM provides negative balance protection, ensuring that traders cannot lose more than their account balance. AvaTrade generally does not charge fees for deposits and withdrawals. However, some fees may be applied by payment providers, and it’s advisable to check the specific terms and conditions.

What are the fees & commissions charged by forex brokers in South Africa?

• Adam trades Forex, stocks and other instruments in his own account.
• Firstly, you could search for a broker that offers ZAR as a base currency to help you sidestep any potential conversion fees, while also ensuring they are regulated by the FSCA, for security reasons.
• You can open a forex trading account even with R0, because some CFD brokers don’t require you to make any initial deposit.
• Metatrader gives traders the ability to perform advanced trading operations, run Expert Advisors and copy trades of other traders.

BDSwiss have an average spread of 1.6 pips for EUR/USD with their Classic account. But the //deriv.com/ spread with Raw Account is very competitive, it is on average 0.3 pips (plus $5 commission per standard lot on Forex). They also offer CFD trading on Gold, popular indices like NASDAQ, and 20 Crypto CFDs at competitive fees. BDSwiss was founded in 2012 in Zurich, and they are a reputed forex broker. They are regulated by regulators FSC & FSA (license no. SD047), but not with FSCA.

Account Types and Commissions

You must manage your risk such that you are never risking more than 1% of your equity on a single trade, which will give you chance to make atleast 100 trades. We will now list down for you some of the opportunities & the risks of forex trading. A single losing trade with no stop loss, or without proper money management would likely cause loss of your capital, as well as mental & emotional stress. For example, let’s say that you are a ‘Position Trader’ trading EURUSD, and you identify that the currency pair would be in a downtrend because of the rising interest rates in the US. You can use 20 Day EMA, 50 EMA, 100 EMA & 200 EMA to identify the points where you could enter the short trades. Also, during Risk Off events, currency pairs like Japanese Yen (JPY) & Swiss africa gold capital investment Franc (CHF) rise against most other currency pairs.

Exness

Further, all regulators like FCA, FSCA also have a public search on their website to check broker’s regulation & license number. Moreover, all the brokers that we have reviewed on our website are regulated with top regulators. Also, we have given links to their registration number in our reviews.

If you exchanged your currency before, then you have already traded in the forex market. Yes, forex earnings, including profits generated from offshore forex trading //standardbank.co.za/ accounts, are subject to tax in South Africa. Choose a well-regarded and regulated broker offering user-friendly platforms, tight spreads, and good support.