GBP/ZAR is an exotic currency pair that reflects the value of the GBP against the ZAR. The pair contains the official currency of Great Britain, considered one of the world’s top reserve currencies, and the South African rand, a middle-income emerging market. This review breaks down the benefits of trading the GBP/ZAR as well as the risks, along with investing tips, the pair’s history and how to forecast GBP to ZAR in 2026.
Best GBP/ZAR Brokers
Our latest evaluations point to these 6 brokers as standout options for trading GBP/ZAR:
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- Demo account
- Regulator: ASIC, VFSC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, DupliTrade
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- Demo account
- Regulator: FMA, FSA
- Min. deposit: $0
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- Demo account
- Regulator: CySEC, MISA
- Platforms: MT4, MT5
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- Demo account
- Platforms: xStation
- Min. deposit: $0
69-80% of accounts lose money when trading CFDs with this provider. -
- Demo account
- Platforms: WebTrader, App
- Min. deposit: $100
81% of retail CFD accounts lose money. -
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
Learn how we test brokers and why you can trust our ratings.
Here is a short summary of why we think each broker belongs in this top list:
- Fusion Markets 4.6/5 Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.
- BlackBull 4.5/5 BlackBull is a New Zealand-based CFD broker providing diverse trading opportunities on over 2,180 instruments. After undergoing a rebrand in 2023, it now sports a modern look and feel complete with professional-grade trading tools and ultra-fast execution speeds averaging 20ms.
- FXCC 4.6/5 FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Comoros Union and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
- XTB 4.8/5 Founded in 2002 in Poland, XTB now serves more than 1 million clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring day traders.
- Plus500 4.1/5 Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.
- IG 4.8/5 Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers a top-tier selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| Fusion Markets | 9999 | ||||
| BlackBull | 3515 | ||||
| FXCC | 219 | ||||
| XTB | 2926 | ||||
| Plus500 | 20078 | ||||
| IG | 10135 |
Fusion Markets
Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC.
Jemma Grist, Reviewer
Fusion Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator
- ASIC, VFSC, FSA
- Platforms
- MT4, MT5, cTrader, TradingView, DupliTrade
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
- Currency Pairs
- USD/CHF, USD/CNH, EUR/AUD, EUR/JPY, EUR/SGD, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/JPY, GBP/ZAR, NZD/SGD, USD/HKD, USD/INR, USD/SGD, USD/THB
Pros
- Fusion Markets continues to impress with its pricing that provides tight spreads with below-average commissions that will appeal to active day traders.
- Average execution speeds of around 37 milliseconds are noticeably faster than many rivals and can help day traders secure optimal prices in fast-moving markets.
- The range of charting platforms and social trading features is excellent, with MT4, MT5, cTrader and more recently TradingView, catering to a wide range of trader preferences.
Cons
- While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.
- Fusion Market trails alternatives, notably IG, in the education department with limited guides and live video sessions to upskill new traders.
- There is no proprietary trading platform or app built with beginners in mind, a notable drawback compared to AvaTrade.
BlackBull
After improving its trading infrastructure with Equinix servers in London, reducing latency for traders, BlackBull is an obvious choice if you want to day trade stock CFDs with ECN pricing. With competitive spreads and no commission on a growing roster of digital tokens paired with USD, BlackBull also works for active crypto traders.
Christian Harris, Reviewer
BlackBull quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Stocks, Indices, Commodities, Futures, Crypto
- Regulator
- FMA, FSA
- Platforms
- BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD
- Currency Pairs
- EUR/AUD, EUR/JPY, EUR/SGD, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, GBP/ZAR, NZD/SGD, USD/SGD
Pros
- BlackBull offers every ingredient for day traders; fast execution speeds of <100ms and tight spreads from 0.0 pips.
- After partnering with ZuluTrade and Myfxbook, alongside improvements to its own CopyTrader, and finally enabling cTrader Copy, BlackBull offers one of the most comprehensive copy trading experiences we've seen.
- With two ECN-powered accounts (Standard and Prime), plus Prime+ - an active trader rewards program offering trading rebates - BlackBull accommodates beginners through to high-volume active traders.
Cons
- Despite a growing selection of 2,180+ assets, including additions to its Asia Pacific indices, they are mainly stocks with an average selection of currency pairs and indices.
- Although the Education Hub now features improvements like webinars and tutorials, the courses we’ve explored need more focus on explaining the wider economic factors influencing prices.
- Unlike most top brokers, BlackBull charges an irritating $5 withdrawal fee, which can detract from the overall cost-effectiveness, especially for active traders who frequently move funds.
FXCC
FXCC continues to prove itself an excellent option for day traders with a particularly strong selection of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and a free VPS for qualifying traders.
Jemma Grist, Reviewer
FXCC quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Metals, Energies, Crypto
- Regulator
- CySEC, MISA
- Platforms
- MT4, MT5
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD
- Currency Pairs
- AUD/CAD, AUD/CHF, AUD/JPY, AUD/NOK, AUD/NZD, AUD/SEK, AUD/SGD, AUD/USD, CAD/CHF, CAD/JPY, CHF/DKK, CHF/JPY, CHF/NOK, CHF/PLN, CHF/SGD, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/HKD, EUR/HUF, EUR/JPY, EUR/MXN, EUR/NOK, EUR/NZD, EUR/PLN, EUR/SEK, EUR/SGD, EUR/TRY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/DKK, GBP/JPY, GBP/NOK, GBP/NZD, GBP/PLN, GBP/SEK, GBP/SGD, GBP/USD, GBP/ZAR, HKD/JPY, MXN/JPY, NOK/JPY, NOK/SEK, NZD/CAD, NZD/CHF, NZD/JPY, NZD/SGD, NZD/USD, SEK/JPY, SGD/JPY, TRY/JPY, USD/CAD, USD/CHF, USD/CNH, USD/CZK, USD/DKK, USD/HKD, USD/HUF, USD/JPY, USD/MXN, USD/NOK, USD/PLN, USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/ZAR, ZAR/JPY
Pros
- Customer support still relies on human agents with response times of under three minutes on live chat during our tests and knowledgeable reps - a welcome break from the frustrating AI chatbots increasingly offered by brokers.
- FXCC has stepped up its offering over the years, adding MT5 to its suite of platforms, hundreds of stocks and more cryptos to its product line-up, plus a copy trading feature and greater margin trading opportunities.
- The free VPS for qualifying traders and the ability to build or buy EAs on MetaTrader make FXCC a strong option for algo traders.
Cons
- Although FXCC has bolstered its range of markets with US, European and Asian stocks, the choice of metals and energies is light, and there are no soft commodities.
- Although regulated by the CySEC, FXCC’s offshore entity operates with weak regulatory oversight from MISA and may not provide safeguards like investor compensation in the event of broker insolvency.
- Although the economic calendar has benefited from a facelift, FXCC still offers very little in terms of market research beyond basic daily technical analysis and aggregated market news, with no tools like Autochartist or social sentiment data.
XTB
XTB stands out as a top choice for new day traders with the terrific xStation platform, low trading costs, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform.
Christian Harris, Reviewer
XTB quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs on shares, Indices, ETFs, Raw Materials, Forex currencies, cryptocurrencies, Real shares, Real ETFs
- Regulator
- FCA, CySEC, KNF, DFSA, FSC, SCA, CMF, Bappebti
- Platforms
- xStation
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP
- Currency Pairs
- USD/CHF, USD/JPY, EUR/AUD, EUR/JPY, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, GBP/ZAR, NZD/SGD, USD/INR, USD/SGD, USD/THB
Pros
- With an excellent range of educational materials, including training videos and articles integrated into the platform, XTB supports traders at all levels.
- First-class 24/5 customer support is available, including a friendly live chat with response times of under two minutes during testing.
- XTB has boosted its interest rate on uninvested balances and added zero-fee ISAs (On ETFs and real shares, or 0.2% with transactions over €100k) for UK clients with a huge range of markets available.
Cons
- Not being able to adjust the default leverage level of XTB products is frustrating, as manual adjustment can significantly mitigate trade risk, especially in forex and CFD trading.
- Trading fees are competitive with average spreads of around 1 pip on the EUR/USD but still trail the cheapest brokers like IC Markets, plus there's an inactivity fee after 12 months.
- XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced day traders familiar with the MetaTrader suite.
Plus500
Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources.
Christian Harris, Reviewer
Plus500 quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs on Forex, Stocks, Indices, Commodities, ETFs, Options, Crypto
- Regulator
- FCA, CySEC, EFSA, ASIC, FMA, FSCA, MAS, ISA, FSA, DFSA, SCA, JFSA, SCB, CIRO, BAPPEBTI, OJK, BI
- Platforms
- WebTrader, App
- Minimum Deposit
- $100
- Minimum Trade
- Variable
- Account Currencies
- USD, EUR, GBP, AUD, ZAR, CZK
- Currency Pairs
- EUR/AUD, EUR/JPY, EUR/SGD, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, GBP/ZAR, USD/HKD, USD/SGD
Pros
- The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp
- AI Bites has been added, giving active traders real-time, AI-generated market summaries, technical analysis, and social sentiment next to charts, aiding in short-term trading decisions
- Plus500 provides a specialized WebTrader platform designed explicitly for CFD trading, offering a clean and uncluttered interface
Cons
- Educational resources are limited compared to best-in-class brokers like eToro, impacting the learning curve for beginners
- The absence of social trading means users can’t follow and replicate the trades of experienced traders
- Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced day traders looking for familiarity
IG
IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and robust trade execution for experienced day traders.
Christian Harris, Reviewer
IG quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only)
- Regulator
- CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA
- Platforms
- Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
- Currency Pairs
- USD/CNH, EUR/AUD, EUR/JPY, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/INR, GBP/JPY, GBP/ZAR, USD/HKD, USD/INR, USD/MYR, USD/SGD, USD/THB
Pros
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading, while IG has also added TradingView integration.
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our 'Best Trading App' award.
Cons
- IG applies an inactivity fee of $12-$18 per month after 2 years, deterring casual investors.
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
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Pros Of Trading GBP/ZAR
- High-exchange rates – Since 2020, the GBP/ZAR pair has seen serious movement, close to its record high in 2016. Activity has led to high levels of volatility which can be good news for forex traders.
- Diversification – Trading with an exotic FX pair lets users diversify their investment portfolio while utilising distinct strategies to generate profits.
- High-interest rates – Both GBP and ZAR generally have high-interest rates, which can provide profit potential. Whilst GBP was once considered a stable currency, the financial crisis in 2008 and Brexit have contributed to an upward trend in rates.
- Resources – Traders nowadays have access to a host of tools that can help inform GBP to ZAR forecasts for today or for next week. Online candlestick charts, live spot and forward rates, plus historical exchange rate data are all available for free at many of the best forex trading platforms and brokers.
Risks Of Trading GBP/ZAR
- Low liquidity – GBP/ZAR is an exotic pair and as the ZAR component is considered an emerging currency, it carries less liquidity compared to developed market currencies and majors. This means it’s likely to have wider spreads, which will make it more costly to trade.
- Volatility – While volatility can increase rewards, it can also magnify losses. Though GBP to ZAR projections and technical analysis can help inform trends, exact movement is difficult to predict. As a result, it’s key that traders use tools such as stop losses to protect positions.
- Algorithmic bots – Nowadays, traders are faced with automated competition from a market dominated by intelligent algorithms. This can make it difficult for manual traders to buy and sell at the same volume and speed as high-tech bots.
Influences On GBP/ZAR Movement
- Monetary policy – Interest rates affecting the British pound are dictated by the Bank of England. Likewise, the South African Reserve Bank decides whether to raise or lower interest rates in South Africa. Being clued in on economic announcements from both financial institutions can help inform GBP v ZAR trading strategies.
- Economic growth – Understanding economic indicators like employment, inflation and interest rates are useful as the value of a currency depends on the strength of its economy. Follow announcements across both countries for insights into which direction the GBP/ZAR may move.
- Commodity prices – Precious metal exports are integral to South Africa’s economy. It is the largest global producer of gold, platinum, diamonds and iron ore. The volume and value of these commodities will influence the country’s currency and the relative strength of the GBP/ZAR.
- Political stability – South Africa has had a troubled political history. The apartheid, for example, significantly weakened the ZAR. Much of the currency’s volatility stems from its political instability. Likewise, Brexit had a big impact on the value of the pound, which saw its largest drop in value following the announcement of the UK referendum vote. Keep abreast of political events across both countries to stay ahead of GBP/ZAR trends.
Correlations
Most currency pairs are linked, with movement in one pair often reflected in another, either positively or negatively:
- Positive correlation – This is when pairs react in line with each other. The GBP/USD, AUD/USD, and EUR/USD are the three most commonly traded pairs and are all positively correlated. This is because USD is the counter currency and any change in the US dollar impacts all pairs.
- Negative correlation – This occurs when currencies move in the opposite direction. The USD/CHF, USD/JPY, and USD/CAD are popular examples. They are negatively correlated because the USD is the base currency.
Application
A GBP/ZAR trader can use this information to validate trends or to build a strategy around majors, for example, which they may understand better. Keeping an eye on the GBP/USD and USD/ZAR is particularly useful when trading the GBP/ZAR.
Of course, it’s worth highlighting that external factors can lead to discrepancies in the standard movement seen in correlated pairs.
GBP/ZAR Day Trading Strategy
Below are some important considerations when forming your GBP/ZAR trading strategy.
Timing
A successful GBP/ZAR strategy will depend on timing. Ideally, you want to trade when the market offers the greatest volume and volatility so you can generate profits while incurring minimal costs.
Brokers
Because GBP/ZAR is an exotic pair, it’s not as widely available as majors, for example. With that in mind, it’s worth checking your forex trading platform offers the pair. It’s also worth keeping in mind some providers offer lower leverage limits and higher fees on exotics. Look for a broker with the best buying and selling rates alongside generous leverage and competitive pip values.
Oanda is one good option that offers the GBP/ZAR and trusted forex platforms like MT4 and MT5. Other useful resources include Yahoo Finance and Xe. These sources offer live exchange rate forecasts, GBP to ZAR conversions, FX news, historical 5, 10 or 20 years of chart data, plus information on futures.
News
Some investors prefer to trade the GBP/ZAR using news announcements. Major events can help you answer questions like ‘is the ZAR getting stronger or will it weaken?’ A couple of top providers for forex news are Bloomberg and broker IG.
Note, we’d recommend validating outlooks based on news events using technical analysis too.
History Of GBP
The pound sterling is one of the oldest currencies, dating back to 775 AD when silver pennies dominated the Anglo-Saxon period. Shortly after the establishment of the Bank of England, pound notes started to circulate in 1694. Before the decimal system was introduced in 1971, the pound existed with a pennies and shillings system.
In the same year, the British pound floated freely, which allowed market factors to dictate the value of the currency rather than artificial pegs to other currencies.
Once a stable currency, the British pound has declined since the financial crisis in 2008. The UK’s referendum vote to leave the EU in 2016 also caused the pound to fall 10% overnight and the impact of the vote is still being felt today.
History Of ZAR
The South African rand was introduced in 1961 when the country became a republic. At that time, the ZAR was valued at 2 rand to 1 pound. Prior to that, the national currency was the South African pound owing to the country being a British colony.
Until 1968, the South African rand exchanged at 2 rand to 1 pound and fluctuated steadily around 1.4 to 1.7 until 1982. Political pressure against the South Africa apartheid then weakened the value of the currency. During that period, the FX rate reached more than 2.5 rand to 1 pound which led to forex activities being suspended to prevent further devaluation.
When the continuation of the apartheid was announced in 1985, the rand continued to weaken. In fact, by the end of the year, it reached over 4 rand to 1 pound and depreciated to over 8 by 1998. And whilst the ZAR has steadily risen since 2006, high rates of poverty, crime, political unrest and unemployment still plague the value of the currency.
Role Of GBP
The British Pound sterling is the official currency of the United Kingdom and also the Isle of Man, the South Sandwich Islands, Gibraltar, South Georgia, and the British Antarctic Territory. It is the fourth most traded currency on the forex market.
The UK’s diverse economy consists of technology and service-oriented companies, manufacturing and agricultural sectors. The country’s financial services industry is one of the largest contributors to GDP.
The British pound is a leading reserve currency and one of the few currencies worth more than the US dollar. With that said, major political events such as Brexit, have negatively impacted the value of the currency in recent years. Of course, political instability can also lead to opportunities for GBP/ZAR day traders.
Role Of ZAR
The ZAR is the national currency of the Republic of South Africa and is also recognised as legal tender in the Common Monetary Area of Lesotho, Namibia and Eswatini.
The ZAR is considered a commodity currency due to the country being a major exporter of platinum, gold, diamonds and iron ore. With that said, the country has pivoted to a more services-based economy which in recent years has accounted for 67.5% of the country’s GDP. Following data across South Africa’s precious metals exports and services industries will help inform GBP/ZAR trading decisions.
Final Word On Trading GBP/ZAR
As GBP/ZAR is an exotic pair, it offers forex traders a means of diversifying their investment portfolio. The pair’s volatility and high-interest rates provide opportunities to earn healthy profits. The right strategy will vary between traders but will likely call on GBP/ZAR technical analysis, news events and historical data.
FAQ
How much is 1 ZAR against GBP?
The value of 1 ZAR per GBP is constantly shifting. See a live chart or visit an exchange rate website for the latest buying and selling rates.
Will the ZAR strengthen?
Historically, the value of the ZAR has declined. Nonetheless, it’s worth keeping up with the latest market news for future predictions.
How can I start trading GBP/ZAR?
Firstly, you need a broker that offers the GBP/ZAR. As an exotic, it’s not as widely available as major pairs. Make sure to also compare spreads, leverage rates and trading tools. You can then test GBP/ZAR strategies in a free demo account before you start live trading.
Is it a good time to buy and sell GBP versus ZAR?
The GBP has increased in value relative to the ZAR. There is still ample volatility to trade the currency pair as the rand depreciates while the pound stabilises. Of course, we recommend conducting your own research before taking a position.
Where can I buy ZAR?
There are many services that let you buy the South African currency if you’re looking for tourist rates. For example, you can buy it from any Post Office branch. However, make sure to check exchange rates on the service provider’s website to get the best value for money.