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