8 Best Regulated Forex Brokers that Accept South African Traders
Finding the right broker to accommodate the trading needs and objectives of individual traders can be a daunting task. South African traders who are looking for the best regulated forex brokers can consult the list below to see what they offer. Exness Exness caters for traders from around the world and is a well-regulated broker […]
Finding the right broker to accommodate the trading needs and objectives of individual traders can be a daunting task. South African traders who are looking for the best regulated forex brokers can consult the list below to see what they offer.
Exness
Exness caters for traders from around the world and is a well-regulated broker offering financial services, investment solutions, and many opportunities in forex trading for retail traders and professional clientele.
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Pros and Cons
| PROS | CONS |
| Strict regulation | No US Clients |
| Negative balance protection offered | Limited tradable assets |
| MetaTrader offered | No multi-currency accounts |
| Demo account provided |
AvaTrade
As an award-winning and well-regulated broker, AvaTrade offers South African traders with more than 250 financial instruments which can be traded through reliable and powerful trading platforms.
Avatrade was rated the best forex Broker in South Africa by the SA Shares community.
Read more: 27 Best Forex Trading Platforms Brokers in South Africa.
Pros and Cons
| PROS | CONS |
| Multiple and strict regulation | US Clients not accepted |
| Negative balance protection | Variable spread accounts not offered |
| Fast trade execution speeds | |
| Fixed spreads offered |
eToro
eToro is a highly reputable and well-regulated broker along with being the leading online social trading platform. With eToro, South African traders have access to a vast array of financial instruments, competitive trading conditions, and a reliable proprietary trading platform.
Pros and Cons
| PROS | CONS |
| Well-regulated | US Clients not accepted |
| Segregated client funds | Limited leverage for retail traders |
| Commission-free trading offered | No fixed spread accounts |
| Large online trading community provided | MetaTrader not offered |
HotForex
When trading with HotForex, South African traders can be assured of a choice between a variety of dynamic accounts, comprehensive trading solutions, and competitive trading conditions.
Pros and Cons
| PROS | CONS |
| Multi-regulated | US Clients not accepted |
| Negative balance protection offered | Fixed spread accounts not offered |
| Member of an investor compensation fund | |
| Commission-free trading offered |
Survey: Millennials More Likely to Make Risky UNREGULATED Investments
Pepperstone
Pepperstone is a large online trading broker that has strict regulation through several regulatory entities. South African traders are offered with some of the best trading conditions and trading solutions and services when trading with Pepperstone.
Pros and Cons
| PROS | CONS |
| Award-winning support provided | No US clients |
| Strict and multiple regulation | Fixed spread accounts not offered |
| Negative balance protection provided | |
| Social trading platforms provided |
FBS
FBS offers traders from around the world with more than 75 financial instruments which can be traded through powerful trading platforms. South African traders can also expect competitive trading conditions, prompt customer service, and an array of useful trading tools.
Pros and Cons
| PROS | CONS |
| Low minimum deposit requirement | US, UK, Japan, and other countries not accepted |
| Social trading opportunities with CopyTrade | Limited tradable assets |
| Multiple account types offered | Wide spreads |
| Limited trading platforms |
XM
XM offers South African traders with superior online trading services and solutions. Traders can expect dynamic trading accounts, reliable trading platforms, multi-lingual support, negative balance protection, and more.
Pros and Cons
| PROS | CONS |
| Strict regulation | No US Clients |
| Negative balance protection | No fixed spreads |
| Multiple awards | |
| Hedging and scalping allowed |
OctaFX
When using OctaFX to facilitate trades, South African traders can expect a range of forex and CFD financial instruments, favourable trading conditions, transparent fee schedules, prompt and dedicated customer support, and powerful trading platforms.
Pros and Cons
| PROS | CONS |
| Commission-free accounts | US Clients not accepted |
| Fixed spreads offered | Limited |
| Copytrading supported | Limited tradable assets |
| Negative balance protection |