CFD Brokers In South Africa

CFD brokers in South Africa have gained momentum in recent years with the widespread liberalisation of online investments. This guide will cover the basics of CFDs and how they work in the South African market. Plus, we’ll show you how to navigate the vast number of CFD brokers in South Africa to find the best platform for your needs.

CFD Brokers In South Africa

  1. Leading forex and CFD broker since 2006, regulated in Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4/5, Web Trader, Mobile App, Vanilla options and Social Trading. +1250 Financial Instruments, Educational content and multilanguage customer support active 24/7. 20% Welcome bonus available on allowed countries.

    Instruments
    CFD, Forex, Stocks, Crypto, Options, Commodities
    Regulator
    CBoI, ASIC, FSA, FSCA, FSB
    Platforms
    MT4, MT5
    Min. Deposit
    $100
    Min. Trade
    $.01
    Leverage
    1:400
  2. 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.

    Instruments
    CFD, Forex, Indices, Crypto, Currency Indices, ETFs, Shares, Commodities, Spread betting
    Regulator
    FCA, ASIC, DFSA, CMA, BaFin
    Platforms
    MT4, MT5, cTrader
    Min. Deposit
    $500 recommended
    Min. Trade
    0.01 Lots
    Leverage
    1:500
  3. FXCC is a trustworthy trading broker regulated by the CySEC. The brokerage offers ECN trade executions, leverage up to 1:500 and $0 commissions.

    Instruments
    Forex, Indices, Metals, Energies, Crypto
    Regulator
    CySEC
    Platforms
    MT4
    Min. Deposit
    $0
    Min. Trade
    0.01 lots
    Leverage
    1:500
  4. Moneta Markets is a regulated multi-asset broker offering a leading web platform plus MT4 & MT5.

    Instruments
    Forex, CFDs, indices, shares, commodities, ETFs, cryptocurrencies
    Regulator
    ASIC, FSCA, SVGFSA
    Platforms
    MT4, MT5
    Min. Deposit
    $50
    Min. Trade
    0.01 lots
    Leverage
    Up to 1:500
  5. XM

    XM.com offers a range of account types and a $5 minimum deposit to appeal to all levels of trader. With 1000+ markets and low variable spreads XM.com provides an excellent trading experience. Win 1KG of Gold by trading during September!

    Instruments
    Forex CFDs, Commodity CFDs, Equity Indices CFDs, Precious Metals CFDs, Energy CFDs, Stocks
    Regulator
    IFSC, DFSA, CySEC, ASIC, FCA, BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA, KNF, AFM, FI
    Platforms
    MT4, MT5
    Min. Deposit
    5 $/€/£
    Min. Trade
    0.01 Micro lots
    Leverage
    1:500
  6. Reliable and affordable trading since 2009. Join over 900,000 others trading on 1000+ CFD products. Trade Forex CFDs from 0.0 spreads on our RAW account through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account less than 2 minutes.

    Instruments
    CFDs, forex, indices, shares, commodities, cryptocurrencies
    Regulator
    ASIC, FCA, CIMA
    Platforms
    MT4, MT5
    Min. Deposit
    $200
    Min. Trade
    0.01 Lots
    Leverage
    1:500
  7. Deriv.com offers CFDs and multipliers with 1:1000 leverage. Get access to volatility indices exclusively at Deriv.

    Instruments
    CFDs, Multipliers, Forex, Stocks, Indices, Commodities
    Regulator
    MFSA, LFSA, VFSC, BFSC
    Platforms
    MT5
    Min. Deposit
    $5
    Min. Trade
    0.01 Lots
    Leverage
    1:1000
  8. Eightcap is a multi-regulated FX and CFD broker offering MT4 and MT5. The brand provides award winning trading platforms, zero commissions, free education and low spreads.

    Instruments
    Forex, CFDs, indices, shares, commodities, cryptocurrencies
    Regulator
    ASIC, VFSC
    Platforms
    MT4, MT5
    Min. Deposit
    £/€/$100
    Min. Trade
    0.01 lots
    Leverage
    1:30 - 1:500 depending on local regulation
  9. Trade Forex on 0.0 pip spreads with the world's leading True Raw forex broker - IC Markets.

    Instruments
    CFD, Forex, Crypto, Futures, Commodities
    Regulator
    ASIC, CySec, FSA
    Platforms
    MT4, MT5, cTrader
    Min. Deposit
    $200
    Min. Trade
    0.01 Lots
    Leverage
    ASIC and CySEC -1:30, FSA - 1:500
  10. 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 tight spreads on a cutting edge platform.

    Instruments
    CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
    Regulator
    CySEC, IIROC, NFA, CFTC, FCA, CIMA
    Platforms
    MT4
    Min. Deposit
    $100
    Min. Trade
    $1
    Leverage
    1:200
  11. Axi

    Axi is a global online FX and CFD trading company, trusted by investors around the world. Highly leveraged trading opportunities plus a $0 minimum deposit make it popular with beginners and seasoned traders.

    81.6% of retail investor accounts lose money when trading CFDs with this provider

    Instruments
    Forex, CFDs, indices, shares, commodities, cryptocurrencies
    Regulator
    FCA, ASIC, DFSA, FMA
    Platforms
    MT4
    Min. Deposit
    0 $/€/£
    Min. Trade
    0.01 Lots
    Leverage
    1:30 - 1:400
  12. LegacyFX is a multi-asset broker offering an MT5 download & free signals.

    Instruments
    Forex, CFDs, indices, shares, commodities, cryptocurrencies, stocks
    Regulator
    CySEC, FCA, VFSC, NBRB
    Platforms
    MT5
    Min. Deposit
    $500
    Min. Trade
    0.01 lots
    Leverage
    1:200
  13. Skilling are an exciting brand, regulated in Europe and beyond, offering 900+ instruments across 7 asset classes and spreads from 0.2 pips.

    80% 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.

    Instruments
    CFD, Forex, Stocks, Indices, Commodities, Cryptocurrencies
    Regulator
    CySEC, FSA
    Platforms
    MT4, cTrader
    Min. Deposit
    100 EUR/USD/GBP or 1000 NOK/SEK
    Min. Trade
    0.01 Lots or 1 Share
    Leverage
    1:30 (EU), 1:500 (Global)
  14. Quotex offers a proprietary web platform that has digital options and trading signals.

    Instruments
    Digital Options
    Regulator
    -
    Platforms
    Own
    Min. Deposit
    $10
    Min. Trade
    $1
    Leverage
    -
  15. IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.

    Instruments
    Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting
    Regulator
    FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
    Platforms
    MT4
    Min. Deposit
    £250
    Min. Trade
    0.1 lots
    Leverage
    1:30
  16. XTB

    XTB is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2100 instruments on their xStation platform.

    81% of retail accounts lose money.

    Instruments
    CFD, Forex, Stocks, Crypto, Commodities
    Regulator
    FCA, CySEC, IFSC, KNF, DFSA
    Platforms
    Own
    Min. Deposit
    $0
    Min. Trade
    0.01 Lots
    Leverage
    1:500
  17. CMTrading is a South African-based forex and CFD broker with a bespoke copy trading service.

    Instruments
    Forex, CFDs, indices, shares, energies, metals, cryptocurrencies
    Regulator
    FSCA, FSA
    Platforms
    MT4
    Min. Deposit
    $100
    Min. Trade
    0.01 lots
    Leverage
    1:200
  18. RoboForex is a multi-asset online broker offering powerful trading aides.

    Instruments
    Forex, CFDs, indices, shares, commodities, cryptocurrencies, cryptoindices, ETFs
    Regulator
    IFSC
    Platforms
    MT4, MT5, cTrader
    Min. Deposit
    $10
    Min. Trade
    0.01 lots
    Leverage
    1:2000
  19. FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads and online CFD trading.

    Instruments
    CFDs, Forex, Indices, Commodities, Cryptocurrencies, Shares
    Regulator
    FSC
    Platforms
    MT4, MT5
    Min. Deposit
    $100
    Min. Trade
    0.01 lots
    Leverage
    1:200
  20. Fusion Markets offers low-cost forex and CFD trading via tight spreads. Copy trading, 1:500 leverage plus multiple account types are also available.

    Instruments
    Forex, CFDs, indices, shares, commodities, cryptocurrencies, metals, energies
    Regulator
    ASIC, VFSC
    Platforms
    MT4, MT5
    Min. Deposit
    $0
    Min. Trade
    0.01 lots
    Leverage
    1:500
  21. easyMarkets.com - Simply Honest. Trade CFDs on Forex, Commodities, Indices, Shares & Cryptos With a Top Rated Forex Broker

    Instruments
    CFD, Forex, Stocks, Crypto, Commodities
    Regulator
    CySec, ASIC, BVI
    Platforms
    MT4
    Min. Deposit
    €100
    Min. Trade
    Varies by asset
    Leverage
    1:30
  22. FBS

    FBS is a top online broker offering MT4 & MT5 trading across a range of popular markets. Multiple account tiers and loyalty bonuses are available.

    Instruments
    CFDs, forex, indices, shares, commodities, cryptocurrencies
    Regulator
    ASIC, CySEC, IFSC, FSCA
    Platforms
    MT4, MT5
    Min. Deposit
    $1
    Min. Trade
    0.01 lots
    Leverage
    1:30 EU and restricted countries, 1:3000 rest of the world
  23. PrimeXBT is a Bitcoin-based platform offering highly leveraged trading in FX, indices, commodities, & cryptocurrencies.

    Instruments
    Forex, indices, commodities, cryptocurrencies
    Regulator
    -
    Platforms
    Own
    Min. Deposit
    0.001 BTC
    Min. Trade
    0.01 contract
    Leverage
    -
  24. Pocket Option is a global binary options broker with a sleek proprietary trading platform and competitive range of assets.

    Instruments
    Stocks, Crypto, Commodities
    Regulator
    IFMRRC
    Platforms
    MT5
    Min. Deposit
    $50
    Min. Trade
    $1
    Leverage
    -
  25. NordFX offer forex trading with specific accounts for each type of investor. Spreads start from 0.0 pips while minimum deposits start at $10.

    Instruments
    Forex, CFDs, indices, commodities, cryptos, stocks
    Regulator
    VFSC
    Platforms
    MT4
    Min. Deposit
    $10
    Min. Trade
    $1
    Leverage
    1:1000
  26. IQCent is an offshore binary options and CFD broker with 10+ payment methods and a $250 minimum deposit. Clients benefit from copy trading tools and in-depth market analysis.

    Instruments
    CFDs, Binary Options, Forex, Stocks, Indices, Commodities, Cryptocurrencies
    Regulator
    -
    Platforms
    Own
    Min. Deposit
    $50
    Min. Trade
    $0.01
    Leverage
    1:500
  27. BitMEX offer the largest market liquidity of any cryptocurrency exchange. The platform also offers low trading costs and minimum deposit requirements.

    Instruments
    Crypto
    Regulator
    Republic of Seychelles
    Platforms
    Own
    Min. Deposit
    $0.01
    Min. Trade
    Varies upon the crypto traded and amount of leverage
    Leverage
    -
  28. EagleFX is an ECN/STP trading broker offering a low starting deposit and high leverage.

    Instruments
    Forex, CFDs, indices, shares, commodities, cryptocurrencies
    Regulator
    -
    Platforms
    MT4
    Min. Deposit
    $10
    Min. Trade
    0.01 lots
    Leverage
    Up to 1:500
  29. VT Markets is a multi-asset broker with ultra-fast trade executions, spreads from 0.0 pips, 24/5 support, and user-friendly trading platforms.

    Instruments
    Forex, commodities, cryptocurrencies, stocks, indices
    Regulator
    ASIC, FSCA, SVGFSA
    Platforms
    MT4, MT5
    Min. Deposit
    $200
    Min. Trade
    0.01 lots
    Leverage
    1:500
  30. 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.

    79% of retail CFD accounts lose money.

    Instruments
    CFDs
    Regulator
    FCA, MAS, CySec, ASIC, FSA
    Platforms
    Own
    Min. Deposit
    $100
    Min. Trade
    Varies by asset
    Leverage
    1:30

What Is A CFD?

A contract for difference (CFD) is an agreement between an investor and broker for the difference between the purchase and sale price of an asset. This is known as a derivative, as it involves no physical exchange of goods. Instead, the contract is based on the value of the underlying asset.

In South Africa, single-stock futures contracts have dominated the Johannesburg Stock Exchange for years, accounting for almost 80% of all contracts traded in the early 2000s. However, CFDs are increasing in popularity due to a number of factors. A key driver of growth for CFD brokers in South Africa were the restrictions from ESMA on retail CFD markets in Europe. Many European brokers expanded to South Africa to offset the lost trade. Other reasons for their popularity include the lack of expiry dates and dividend exposure.

Johannesburg Stock Exchange
Johannesburg Stock Exchange

How CFD Brokers In South Africa Work

As CFDs have grown in popularity, established brokers in South Africa now offer them on major financial markets. In fact, the best CFD brokers in South Africa offer contracts on forex, indices, commodities, and cryptocurrencies. This means CFDs are available to trade 24 hours a day.

The country’s Financial Services Board (FSB) oversees CFD and forex trading. However, it is less restrictive vs ESMA in its approach. OTC derivative brokers must be licensed with the South African Financial Sector Conduct Authority (FSCA). However, many CFD brokers in South Africa are also regulated by globally established financial bodies, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA).

As a G20 member, South Africa has begun implementing robust new financial markets regulation. This is to promote the safe and transparent trade of over-the-counter derivatives.

How To Compare CFD Brokers In South Africa

When selecting CFD brokers in South Africa, we’d recommend considering the following key features.

Platforms

The most popular trading platforms offered by CFD brokers in South Africa include the industry-established MetaTrader 4 and MetaTrader 5. Brokers may also offer their own proprietary software. Ensure reliable tools such as technical indicators and customisable charts are available to support forecasting and price analysis. Educational materials, such as video tutorials and guides may also be offered.

We advise utilising a demo account to understand platform features and practise strategies with virtual funds before opening a live account.

Best CFD Brokers in South Africa

Mobile Applications

Mobile apps are becoming the norm for many global brokers. These allow you to keep track of price movements and manage positions while on the move. Plus, CFD brokers in South Africa with mobile applications often provide alert notifications and market sentiment reporting, accessible 24/7 while on the go.

Assets

The best CFD brokers in South Africa will offer several asset types. The most popular markets include commodities, indices, forex, or shares. Increasingly, CFDs on NASDAQ stocks are favoured by South African traders, as well as derivatives of the South African Rand and gold. Brokers offering these assets, such as Markets.com, are a good place to start. Alternatively, Plus500 offers 2000+ CFD instruments to retail clients.

Leverage

South African brokers that offer leveraged CFDs are particularly appealing. Substantial leverage and low margin requirements across a range of instruments including stocks, commodities, ETFs, and bonds provide an opportunity to maximise profits. Look out for CFD brokers in South Africa that offer flexible leverage to accommodate your risk appetite. Also, look out for the ability to reduce leverage in times of high volatility.

Fees

Many CFD brokers in South Africa do not charge a commission to enter and exit a trade. Instead, the cheapest CFD brokers will offer tight spreads. These can be fixed, however, they may vary depending on the volatility of the underlying asset. Also consider other fees such as deposit withdrawal charges, rollover rates and inactivity costs when comparing brokers. FBS, for example, offers low fees, no inactivity charges, and spreads from 0 pips.

Minimum Deposits

Minimum deposit requirements vary by broker and by account type. For inexperienced or new traders, it is best to select a broker that requires a low initial deposit. CFD brokers in South Africa are ideal for those with low capital, as the minimum requirements tend to be small. On average, minimum deposits from the cheapest CFD brokers in South Africa are approximately $100 vs thousands of dollars at some of the global ECN brokers.

Regulation

It is best practice to select a broker that is fully licensed and follows regulatory guidance. The South African Financial Sector Conduct Authority (FSCA) offers local regulation, improving the integrity of financial markets and encouraging fair services for retail clients. Check the broker’s registration number on the regulatory board’s website before opening an account.

CFD brokers in South Africa

Customer Support

For a broker to be recognised as one of the best in South Africa, customer service options must be available throughout trading hours and must operate efficiently. Many established CFD brokers in South Africa provide 24/7 help to clients to match market opening times. This can include multilingual live chatbots, email, or telephone support.

Payment Methods

A variety of payment methods can also be useful. Most brokers accept credit and debit card transactions, but some CFD brokers in South Africa also allow e-wallet and digital payments. Look out for those that provide quick and easy deposit and withdrawal options. Instant withdrawals are ideal, but 2-4 working days is acceptable. Some CFD brokers in South Africa may charge fees to deposit, so check these before funding your account.

Bonuses

Marketing promotions and joining bonuses are used heavily by CFD brokers in South Africa. However, no broker should be chosen solely because of the reward on offer. We recommend finding a reliable and trusted provider before considering their incentives. Always check the terms and conditions of any bonus before signing up.

Final Word On CFD Brokers In South Africa

CFDs continue to challenge the domination of single-stock futures on the Johannesburg Stock Exchange. So much so, that CFD brokers in South Africa have multiplied in number, responding to this increased demand. When deciding which brokerage is right for you, compare the features listed above, with a particular focus on regulation, fees and platform features.

FAQs

What Is CFD Trading In South Africa?

CFDs are derivative contracts for the difference in price between the buy and sell value of an asset. Essentially, CFDs involve speculating on whether the price of an underlying asset or security will rise or fall in a given time. The process is the same regardless of jurisdiction or broker as there is no physical exchange of goods.

What Leverage Can I Expect CFD Brokers In South Africa To Offer?

There are no leverage limits for CFD brokers in South Africa. Substantial leverage can be utilised, up to 1:1000 in some cases. Look out for brokers that offer flexibility, this will enable you to consider your risk appetite and then reduce leverage rates in times of volatility.

Yes, CFD trading is legal in South Africa. The Financial Services Board (FSB) oversees CFD and forex brokers, protecting retail traders and offering guidance. Make sure your selected broker holds an appropriate license with the FSCA or a recognised international body, such as the CySEC or the FCA.

Which CFD Brokers In South Africa Are The Best?

When looking for the best CFD brokers in South Africa, consider the platform on offer, fees, leverage and customer support. Read our guide above for a full list of considerations. We’d also recommend opening an account that is licensed with a respected global regulator.

Are CFD Brokers In South Africa Regulated?

It is best practice to choose a broker that is fully licensed to offer financial services. The South African Financial Sector Conduct Authority (FSCA) regulates the best CFD brokers in South Africa. However, those regulated by international authorities, such as the CySEC or the FCA, are also likely to be trustworthy.