Best Forex Brokers in South Africa

Top 10 South African Forex Brokers

1. Pepperstone   96
2. Ava Trade   94
3. XM Forex   93
4. Pax Forex   92
5. Forex Time   91
6. Hotforex   88
7. IC Markets   86
8. Roboforex   84
9. Vantage FX   81
10. BD Swiss   79

You can click on a broker's logo to visit its website.

Regulated and Legit Forex Brokers

Our list contains only legit forex brokers. All of them are regulated in solid jurisdictions. Many of them hold a FSCA (formerly known as FSB) license in Southa Africa, but also hold license in other top rated jurisdictions such as Australia, UK, Cyprus or Belize. The brokers in the list offer high leverage and are excellent for beginners and experienced traders alike. Some of them offer ECN accounts as well. All the brokers in our list accept traders from South Africa.

Forex Brokers Tiers (Full List)

Our rating of forex brokers is comprised of five tiers:

Tier 1 - A score between 80 and 100

Tier 2 - A score between 60 and 79

Tier 3 - A score between 40 and 59

Tier 4 - A score between 20 and 39

Tier 5 - A score between 1 and 19

Below you will find the major forex brokers ranked under five tiers, from best (Tier 1) to worst (Tier 5):

What does each tier represent? See below:

Tier 1 - The best of the best. Why settle for less?

Tier 2 - Good, reliable and honest. Good enough for most traders.

Tier 3 - Decent brokers, but nothing special about them.

Tier 4 - Poor quality brokers. Can give you headaches if you use them.

Tier 5 - Suspicious. Better to avoid, as there are plenty of safer options.

Since there are several high tier brokers, we think it is not worth the risk working with a lower tier one. While low tier brokers can also offer decent services, you will generally find much better conditions with those that are high rated.

We hope that our comparison will prove useful, and we wish you good luck in your trading activities.

Risk Warning: Forex and CFD trading is risky and can result in the loss of your entire investment. Trading with leverage involves risks that some people may not fully understand. It is not recommended to trade leveraged products unless fully understanding the risks. Never trade with money you cannot afford to lose.

Disclaimer: The information on this website is for informational purposes only and does not represent a recommendation from our part. We are not liable for any loss that you may incur from trading with any of the brokers presented on this page. This website is not intended for people residing in the United States of America or any other country where forex trading is illegal.

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