Online Brokers In South Africa 2021 – Comparison & Reviews

With a daily forex trading volume of $20.3 billion, it’s little surprise to learn that South Africa has one of the most active investing communities on the continent. But with over 50 online brokers that accept South African traders, how do you find the best one? Here, we list the top online brokers in South Africa and cover everything you need to know when selecting a platform.

Online Brokers In South Africa

Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
Cryptocurrency
Yes
Regulator
CBoI, ASIC, FSB, ESMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
FXTM is a leading forex and CFD broker. Offering a huge range of markets and 6 account types, they cater to all levels of trader. Get a 30% Deposit Bonus - Get an extra 30% on top of your deposit – that’s up to $200 more to trade with.
Cryptocurrency
No
Regulator
CySec, ESMA, FCA and FSC of the Republic of Mauritius
MT4 Integration
Yes
Min. Deposit
From $50
Min. Trade
0.01 lots
Bonus
30% Up to $100 via Exinity Ltd
Trade Forex on 0.0 pip spreads with the world's leading True ECN forex broker - IC Markets.
Cryptocurrency
Yes
Regulator
ASIC, CySec, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
None
FXCC is a highly regulated and trustworthy MT4 trading broker.
Cryptocurrency
No
Regulator
CySEC, FCA
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
An investor with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Commodities, Cryptocurrency (Availability subject to regulation), Options and Indices. With tight spreads and no commission, they are a leading global brand.
72% of retail CFD accounts lose money.
Cryptocurrency
Yes
Regulator
FCA, MAS, CySec, ASIC, ESMA
MT4 Integration
No
Min. Deposit
$100
Min. Trade
Varies by asset
Bonus
None
Deriv.com are a new brokerage, offering options and CFDs on a simple, reliable, flexible platform. Get access to volatility indexes exclusively at Deriv.
Cryptocurrency
No
Regulator
Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC)
MT4 Integration
Yes
Min. Deposit
€/£/$5
Min. Trade
0.01 Lots
Bonus
None
PrimeXBT is a Bitcoin-based platform offering highly leveraged trading in FX, indices, commodities, & cryptocurrencies.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
No
Min. Deposit
0.001 BTC
Min. Trade
0.01 contract
Bonus
None
Open an account with just $10. Trade over 14 Cryptocurrencies directly, traditional forex with low spreads or trade digital options with payouts up to 900%.
Cryptocurrency
Yes
Regulator
CySEC
MT4 Integration
No
Min. Deposit
$10
Min. Trade
0.001 lots
Bonus
None
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service. Win 1KG of Gold by trading during September!
Cryptocurrency
No
Regulator
IFSC, IIROC, CySEC, ASIC
MT4 Integration
Yes
Min. Deposit
5 $/€/£
Min. Trade
0.01 Micro lots
Bonus
Free VPN Services
Markets.com offer CFDs across a huge range of assets from shares and indices to commodities and cryptocurrencies.
Cryptocurrency
Yes
Regulator
FCA, CySEC, ASIC, FSCA, FSC, ESMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world.
72.6% of retail investor accounts lose money when trading CFDs with this provider
Cryptocurrency
Yes
Regulator
FCA, ASIC, DFSA, FMA
MT4 Integration
Yes
Min. Deposit
0 $/€/£
Min. Trade
0.01 Lots
Bonus
None
Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Cryptocurrency
Yes
Regulator
CySEC, IIROC, NFA, CFTC, FCA, FSA, and CIMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
Finq.com offer a great all round service with trading on 2100+ assets and immediate bonus offers. Up to $4000 in Deposit Bonuses.
Cryptocurrency
Yes
Regulator
FSA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 Lots
Bonus
None
easyMarkets.com - Simply Honest. Trade CFDs on Forex, Commodities, Indices, Shares & Cryptos With a Top Rated Forex Broker
Cryptocurrency
Yes
Regulator
CySec, ASIC, BVI
MT4 Integration
Yes
Min. Deposit
€100
Min. Trade
Varies by asset
Bonus
None
LegacyFX is a multi-asset broker offering an MT5 download & free signals.
Cryptocurrency
Yes
Regulator
CySEC, FCA, VFSC, NBRB
MT4 Integration
No
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
Pepperstone offers CFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Cryptocurrency
Yes
Regulator
FCA, ASIC, SCB, DFSA, CMA, BaFin
MT4 Integration
Yes
Min. Deposit
£200 / $200
Min. Trade
0.01 Lots
Bonus
None
Reliable and affordable trading since 2009. Join over 400,000 others trading on 300+ CFD products over assets like forex, gold, indices and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
Cryptocurrency
No
Regulator
ASIC, FCA, CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
Up to 50%
Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
Cryptocurrency
No
Regulator
FSRA, FCA, FSC, CMA
MT4 Integration
Yes
Min. Deposit
Trader Pro: $10,000 Trader: $100 
World:$20
Min. Trade
0.01 lots
Bonus
None
Global brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features.
Cryptocurrency
Yes
Regulator
CFTC, MAS, IIROC, NFA, FCA, ASIC, FFAJ, BVI
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
$0
Bonus
None
Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.
Cryptocurrency
Yes
Regulator
ASIC, VFSC
MT4 Integration
Yes
Min. Deposit
£/€/$100
Min. Trade
0.01 lots
Bonus
None
Capital.com offer CFDs and Forex on a huge range of assets, with competitive spreads and unique platforms, including the fully functional mobile app.
75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptocurrency
Yes
Regulator
FCA, CySec, ASIC
MT4 Integration
Yes
Min. Deposit
£/$/€20 (Varies by payment method)
Min. Trade
Varies by asset
Bonus
None
RoboForex is a multi-asset online broker offering powerful trading aides.
Cryptocurrency
Yes
Regulator
IFSC
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
$30 welcome deposit bonus
FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.
Cryptocurrency
Yes
Regulator
IFSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
15% deposit bonus with Bitcoin payments
XTB is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2000 instruments on their trading platforms.
73% of retail accounts lose money.
Cryptocurrency
Yes
Regulator
FCA, CySEC, IFSC, KNF, DFSA
MT4 Integration
No
Min. Deposit
$0
Min. Trade
0.01 Lots
Bonus
None
Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs. Their message is - Stop paying too much to trade
Cryptocurrency
Yes
Regulator
ASIC
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 Lots
Bonus
None
CMTrading is a South African-based forex & CFD broker.
Cryptocurrency
Yes
Regulator
FSCA
MT4 Integration
Yes
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
Pocket Option is a global binary options broker with sleek proprietary trading platform and competitive range of assets.
Cryptocurrency
Yes
Regulator
IFMRRC
MT4 Integration
No
Min. Deposit
$50
Min. Trade
$1
Bonus
50% Deposit Bonus
NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.
Cryptocurrency
Yes
Regulator
VFSC
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
$1
Bonus
None
Bit Mex Offer the largest market liquidity of any Crypto exchange. Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
0.0001 XBT
Min. Trade
0.0001 XBT
Bonus
None
EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
None
Moneta Markets is a regulated FX & CFD broker offering a proprietary web platform.
Cryptocurrency
Yes
Regulator
CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
50% deposit bonus
Axiory is a regulated forex & CFD broker offering tight spreads & leveraged trading.
Cryptocurrency
No
Regulator
IFSC Belize
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
50%
Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.
This post contains affiliate links, and this website will be compensated if you make a purchase after clicking the links.
Cryptocurrency
Yes
Regulator
CBoI
MT4 Integration
No
Min. Deposit
0 $/€/£
Min. Trade
0.0001 XBT
Bonus
£5/$5 in BTC. Terms and Conditions Apply. See Review
Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions incl the UK and Australia. They boast tight spreads and no minimum deposit.
Cryptocurrency
No
Regulator
FCA, ASIC, FSCA and SCB
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.1 lots
Bonus
1,000 sign-up reward points
Quotex offers a proprietary web platform that offers digital options and copy trading.
Cryptocurrency
Yes
Regulator
IFMRRC
MT4 Integration
No
Min. Deposit
$10
Min. Trade
$1
Bonus
Tiered deposit bonuses up to $105
SpreadEx offer spread betting on Financials with a range of tight spread markets. Popular award winning, UK regulated broker.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$1
Min. Trade
$1
Bonus
None
FBS is a top online broker offering MT4 & MT5 trading across a range of instruments.
Cryptocurrency
Yes
Regulator
ASIC 426359, CySEC 331/17, IFSC/000102/198, FSCA 50885
MT4 Integration
Yes
Min. Deposit
$1
Min. Trade
0.01 lots
Bonus
$100 welcome bonus
GO Markets is an ASIC-regulated FX & CFD broker.
Cryptocurrency
Yes
Regulator
ASIC
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
30% deposit bonus
ThinkMarkets is a multi-regulated forex and CFD broker
71.89% of retail investor accounts lose money when trading CFDs with this provider.
Cryptocurrency
Yes
Regulator
FCA, ASIC, FSCA, FSA Seychelles
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
Cryptocurrency
No
Regulator
FCA, MAS
MT4 Integration
Yes
Min. Deposit
£250
Min. Trade
£1
Bonus
None
IronFX offers online trading in forex, stocks, futures, commodities and cryptocurrencies
Cryptocurrency
Yes
Regulator
FCA, CySEC, ASIC, FSB
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
100% Sharing Bonus - double first deposit
Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
Cryptocurrency
Yes
Regulator
CySec, DFSA, FCA, SCB, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 Lots
Bonus
None
Dukascopy is a Swiss-based forex, CFD, and binary options broker
Cryptocurrency
Yes
Regulator
FINMA, FCMC, JFSA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
10% equity bonus
ExpertOption offer digital trading on Forex, Cryptocurrencies, commodities, indices and stocks. This high risk / high reward trading is only available to certain regions.
Cryptocurrency
Yes
Regulator
Financial Services Authority of St. Vincent and the Grenadines (SVGFSA)
MT4 Integration
No
Min. Deposit
10 $/€
Min. Trade
1 $/€
Bonus
100% Deposit Match
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.
Cryptocurrency
Yes
Regulator
MGA
MT4 Integration
Yes
Min. Deposit
$5
Min. Trade
$1
Bonus
None
UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.
Cryptocurrency
No
Regulator
CySec
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.
Cryptocurrency
Yes
Regulator
FCA, ASIC
MT4 Integration
Yes
Min. Deposit
$300
Min. Trade
0.01 lots
Bonus
$10 no deposit bonus (non-UK traders)
Trade on the financial markets with low cost, leveraged products at HYCM.
Cryptocurrency
No
Regulator
FCA, DFSA, CIMA, CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
10% deposit bonus up to $5,000
Binance is one of the leading online crypto exchanges offering Bitcoin.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$0
Min. Trade
$10
Bonus
None
Global Prime is a multi-regulated trading broker offering 100+ markets.
Cryptocurrency
Yes
Regulator
ASIC, VFSC, FSA
MT4 Integration
Yes
Min. Deposit
AUD $200
Min. Trade
0.01 lots
Bonus
None
Trade.com offers thousands of tradable assets on desktop and mobile platforms.
Cryptocurrency
Yes
Regulator
FCA, CySEC, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
Cryptocurrency
Yes
Regulator
SVG FSA, NFA, CAMA Nigeria
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
Seasonal Bonuses
Gemini is a leading crypto trading exchange with low fees and a long list of altcoins.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$0
Min. Trade
0.00001 BTC
Bonus
None
Bitfinex is among the best crypto exchanges for experienced traders with a free mobile trading app and low fees.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
$10,000
Min. Trade
$10
Bonus
None
Kraken is a top crypto trading exchange offering the largest altcoins by market cap.
Cryptocurrency
Yes
Regulator
FCA, FinCEN, FINTRAC, AUSTRAC, FSA
MT4 Integration
No
Min. Deposit
0.0001 XBT
Min. Trade
0.0002 XBT
Bonus
None
Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
From 0.005 BTC
Min. Trade
10 USD
Bonus
None
Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing huge flexibility to suit any trader.
Cryptocurrency
No
Regulator
FCA, ASIC, FSC, FMA, FSA, CGSE, JSC
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
Core Spreads offers CFD trading and spread betting across several asset classes on two top-tier platforms.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
OKEx is a digital exchange offering trading on hundreds of cryptos across desktop and mobile applications with low fees.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
10 USDT
Min. Trade
Variable
Bonus
$10 in BTC
AdroFX is a regulated, global broker offering forex, CFD and crypto trading with MT4 access and attractive welcome bonuses.
Cryptocurrency
Yes
Regulator
FSA, BSSLA
MT4 Integration
Yes
Min. Deposit
$25
Min. Trade
0.01 lot
Bonus
100% deposit bonus
Trade the markets with MT4 trading tools alongside CySEC regulation.
Cryptocurrency
Yes
Regulator
CYSEC, VFSC, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
Cryptocurrency
Yes
Regulator
CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
50% deposit bonus
BlackBull Markets offers forex and CFD trading on the MT4 & MT5 platforms.
Cryptocurrency
No
Regulator
FMA, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
None
Olymp Trade Offer Fixed time trades over a huge range of markets. Established in 2014, the firm now boasts over 25k active traders each day.
Cryptocurrency
Yes
Regulator
FinaCom
MT4 Integration
No
Min. Deposit
€/$10
Min. Trade
€/$1
Bonus
None
LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms.
Cryptocurrency
Yes
Regulator
Marshall Islands
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
Rebate on payment fees
Infinox is a UK-based broker offering MT4 trading with tight spreads.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£1
Min. Trade
0.01 lots
Bonus
None
Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.
Cryptocurrency
Yes
Regulator
Cyprus Securities and Exchange Commission (CySEC) and Seychelles Financial Services Authority (SFSA)
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
$50 no deposit bonus
FP Markets is a multi-asset broker offering a choice of trading platforms.
Cryptocurrency
Yes
Regulator
ASIC, CySEC, ESMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Fortrade is a multi-asset broker offering a simple live account with advanced tools.
Cryptocurrency
Yes
Regulator
FCA, ASIC, CySEC, NBRB, IIROC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms
Cryptocurrency
Yes
Regulator
FCA, CySEC, ASIC, JSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Spectre.ai is a blockchain-based binary options broker
Cryptocurrency
Yes
Regulator
St. Vincent and the Grenadines
MT4 Integration
No
Min. Deposit
$0
Min. Trade
$1
Bonus
None
ActivTrades offers online trading on the MT4, MT5 and ActivTrader platforms.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
Cashback on trades
Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
Cryptocurrency
Yes
Regulator
FMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
20%
StormGain provides an online crypto trading platform & cloud mining tool.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
50 USDT
Min. Trade
10 USDT
Bonus
Deposit bonus up to 20%
Khwezi Trade is an online broker offering four live MT4 trading accounts.
Cryptocurrency
No
Regulator
FSCA
MT4 Integration
Yes
Min. Deposit
R 2,000
Min. Trade
0.01 lots
Bonus
None
LMFX offers online forex and stock trading with low fees and high leverage.
Cryptocurrency
No
Regulator
None
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
100% deposit bonus up to $30,000
LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
Cryptocurrency
No
Regulator
None
MT4 Integration
Yes
Min. Deposit
$20
Min. Trade
0.01 lots
Bonus
100% deposit bonus up to $20,000
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
Cryptocurrency
Yes
Regulator
HCMC
MT4 Integration
Yes
Min. Deposit
$1 to $300 (Broker choice dependent)
Min. Trade
$1
Bonus
None
Forex broker Videforex accepts deposits in a range of cryptocurrencies. Payouts reach 95% per trade.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
No
Min. Deposit
$250
Min. Trade
$1
Bonus
100% deposit bonus up to $3,000
Fondex is an award-winning forex and CFD broker with industry low trading costs
83.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptocurrency
No
Regulator
FSA, CySEC
MT4 Integration
No
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
€/£/$100
Min. Trade
€/£/$100
Bonus
None
Deposit and trade with a Bitcoin funded account! Binarycent accept deposits in, and trade, 15+ Cryptocurrency types.
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
$250
Min. Trade
$.01
Bonus
20% to 100%
Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
€/£/$1
Min. Trade
0.01 Lots
Bonus
None
ETX Capital are a London-based, FCA regulated broker offering tight spreads across a wide range of markets. They offer professional client services for eligible pro clients, and free guaranteed stops on the TraderPro platform. Plus, you can trade the top 250 most popular share CFDs with zero commission.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£250
Min. Trade
£1
Bonus
None
Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
Cryptocurrency
Yes
Regulator
CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
1 contract
Bonus
None
Ayondo offer trading across a huge range of markets and assets. They also offer negative balance protection and social trading.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£1
Min. Trade
£1
Bonus
None
Alpari offer forex and CFD trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.
Cryptocurrency
Yes
Regulator
FSC of Maritius, SEBI
MT4 Integration
Yes
Min. Deposit
From $/£/€ 5
Min. Trade
0.01 Lots
Bonus
30% Up to $100. Terms Apply
AGEA is a regulated forex & CFD broker offering multiple trading platforms and account types.
Cryptocurrency
Yes
Regulator
Commission for Capital Markets
MT4 Integration
Yes
Min. Deposit
$1
Min. Trade
0.01 lots
Bonus
$5 no deposit bonus
Leading short term trading platform, offering high payouts, quick trading and a reliable service.
Cryptocurrency
No
Regulator
MT4 Integration
No
Min. Deposit
$10
Min. Trade
$1
Bonus
None
Show All Brokers ⇩

How To Compare Online Brokers In South Africa

Despite challenging economic years in recent times, some regulated online brokers have seen over 100% growth. The number of brokers and platforms has also increased, with the industry going from strength to strength in South Africa.

Other jurisdictions, such as Europe, tightened regulations in 2020. This made Africa and various Asian countries an attractive market for regulated online brokers, particularly those originating from Europe, where high leverage and certain derivatives are restricted.

But before you start trading, you’ll need to choose from the extensive selection of online brokers in South Africa.

Make sure you shop around before signing up for an account. Everyone has different needs. Important factors like fees, leverage, platforms and assets vary by broker. Some of the best online stock brokers in South Africa also provide a range of free educational resources to help you make informed investment decisions.

We’ve listed the key factors below to help you make your decision.

Online Broker Trading

Assets & Markets

The Johannesburg Stock Exchange (JSE) is the largest stock exchange in Africa with a market capitalization of over 1,005 billion USD. It is open Monday through Friday, from 9:00 am to 5:00 pm South African Standard Time (GMT+02:00). If you’re interested in trading South African stocks, make sure you open an account with a broker that offers access to this exchange.

Other assets to look out for include:

  • Cryptocurrency – The global crypto market has boomed in recent years and South Africa is no exception. In 2021, the daily value of crypto trading exceeded 2 billion ZAR (147 million USD) for the first time. Bitcoin is the most popular token in South Africa, but Litecoin (LTC), Ripple (XRP), Dash (DASH) and Monero (XMR) are also favoured by investors. Traders in South Africa can purchase digital currencies from local brokers or global exchanges.
  • Forex – Some of the world’s top online forex brokers are based in South Africa. Check out our broker table for a list of those we recommend.
  • Commodities – The commodity market is based on the supply and demand of physical goods. Investing is often done using derivatives, such as forwards, futures, or options contracts. Metals like gold, silver, copper and platinum are popular commodities to trade in South Africa. Agriculture and energy, such as crude oil, are also common. All are available on the JSE.
  • Binary options – South Africa is an evolving destination for binary options. Binary options are an Over The Counter (OTC) derivative. Companies that want to offer this type of investing in South Africa are required to obtain a Financial Services Provider license. Offshore brokers are also allowed to market their products to South African citizens, as long as they are licensed in their home countries.

Fees

Fees vary between online brokers in South Africa. Traders should consider their intended strategy before making a selection. For example, scalpers will require low spreads but may be willing to pay annual account fees. Investors making fewer trades might prefer to pay per trade.

With any online platform, it’s important to check for any hidden charges so there are no surprises when you are trading, depositing or withdrawing money. Other common costs include inactivity charges and overnight (rollover) fees.

Other factors to consider include:

  • Margin – Also known as leverage, margin is essentially a loan from your broker that allows you to place larger trades than your deposit would usually allow. Look at how much leverage the online broker offers and consider whether that fits with your strategy.
  • Minimum deposit – Some online brokers in South Africa require a hefty initial deposit. If you’re just starting out, you may not have a huge amount to invest, so it’s important to shop around for those offering low entry points.
  • Account types – Online brokers in South Africa usually offer different account options, ranging from standard to premium accounts. These will come with varying features, such as extensive technical analysis tools, customer support, and minimum trading limits. Consider which features are important to you and therefore which account level is best. See our list of the best brokers with ZAR accounts here.

Leverage

Leverage can only be offered up to the South African Financial Sector Conduct Authority (FSCA) limits. If you’re looking for leverage higher than the regulation permits, you could select an online brokerage in South Africa that operates some risky practices.

Losses can exceed deposit amounts when using leverage, therefore it’s best to limit margin trading to what is affordable.

Tools

The platform and tools provided by an online broker are extremely important. The platform is your door to the markets and where you’ll spend most of your time. Look for a sleek and easy-to-use platform that offers all the technical charts, graphs and indicators you need to trade effectively.

Demo Account

A demo account will allow you to test both the platform and your strategy with virtual currency before committing any money of your own. Most online brokers in South Africa offer a practice account, but not all, so check you can access one before signing up.

Customer Support

Customer support varies between online brokers in South Africa. Some will offer a 24/7 helpline, a quick and easy live chat function and helpful Q&As on the website. Check what’s offered by the broker so that you’re not left feeling unsupported in times of need.

Regulation

The Financial Sector Conduct Authority (FSCA) is the regulatory body in South Africa. It was established in 2018 as the successor to the Financial Services Board (FSB). The FSCA ensures that retail traders are protected from undue risk and that online brokers operate sensible business practices.

While it’s recommended that forex brokers in South Africa are authorised by the FSCA, it’s not a legal requirement. To identify a regulated broker, find the FSP registration number from the disclosure text at the bottom of the company’s homepage. Use this to look up the online broker on the FSCA register.

Regulated brokers in South Africa

Security

As well as regulation, it’s important to look at the security of a broker. Check for any significant historical data breaches and that 2-factor authentication is provided. Ideally, online brokers in South Africa should also segregate client funds from the business’s.

Final Word; Online Brokers In South Africa

We’ve listed some of the best online brokers in South Africa, but there are some important factors to consider before opening an account. Regulation isn’t a legal requirement for brokers in South Africa, but it is encouraged, so traders should check the company selected is authorised by the FSCA. You should also consider what assets you wish to trade, the minimum deposit amount, and any fees. Take into account your investing style, including the frequency and size of your trades, as this will help you to find the right broker for your needs.

FAQs

Online trading is legal in South Africa. However, the South African government monitors cash-outflow via the South African Reserve Bank. This is to ensure the limit of 10 million Rands per person is adhered to.

Do South African Forex Traders Pay Tax?

Any profits you make when forex trading in South Africa are taxable. This means you have to file a Personal Income Tax form. The rate can range from 18% to 40% depending on the profits you’ve made. You may wish to consult a tax advisor before you get started.

How Many Forex Brokers Are In South Africa?

There are over 50+ forex brokers that accept South African traders, meaning the choice can be a difficult one. Consider the platform, fees and functionality on offer before making a selection.

Which Online Broker Is Best In South Africa?

IG, Saxo Bank, Interactive Brokers, Forex.com, eToro and FXCM are all top online brokers in South Africa. Check out our broker rankings and reviews for more information.

Who Is The Richest Forex Trader In South Africa?

Jabulani Ngcobo, born in 1985, is one of the richest forex traders in South Africa. Ngcobo is a self-made millionaire and the author of Cashflow Naked, a biography and a lesson on financial education. His net worth is estimated at $2.4 billion.