The Best Regulated Forex Brokers For South African Traders

A Guide To All The Local Brokers

 

The Brokers Below Are Fully Regulated By FSB & Other Regulators Around The World
Some Offer Welcome & Loyalty Bonuses To New Traders
Most Have Basic Training for Beginner Traders
For Experienced Traders ECN/STP Accounts Are Available With DMA
Affiliate/IB Account Links For Other Online Publishers
This & Tons More Below

Or, Check Out These Two Featured Brokers

CM Trading Markets.com

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The Best FSB Regulated Forex Brokers in South Africa

Choosing the right broker is a tricky task with all of the scams going around and even with the licensed ones there are terms and conditions that you need to know about (especially around bonuses and withdrawing).

Your choice of a regulated broker will be one of the most important one that you make when deciding to trade the markets and you should definitely pay special attention to these brokers offering their services in South Africa as they’ve taken the time to conform to regulatory authority.

If you would like some help and advice on which broker is the right one for you, then contact me via the form above and lets talk.

Another important part of trading, is the mentor you choose to learn from and the trading strategy you learn. If you’re a beginner looking for a solid foundation in trading and have at a least a 5 year plan then I’d love to hear from you. Please sign up for my “Better Trader” newsletter on that follows. Reply to the email I send you and let’s talk trading 🙂

Disclaimer: Finally, its important for you to know that I’m either an Introducing Broker or affiliate with these brokers and will earn a commission if you decide to join them using the links on this page.

This doesn’t cost you anything extra, I’ve negotiated the smallest percentage profits with each of them so that you can get the best possible deal and helps fund my business.

I’d appreciate you using these links and supporting me but no hard feelings if you don’t, I appreciate you taking the time to read this post.

And now the list of brokers, but first:

My Top Best South African Broker is CMTrading

CMTrading is a new broker that’s operating from South Africa. They’re regulated with the FSB with number 38782.

With a welcome bonus that goes all the way up to $2000 its easy to trade using their money if you’re just starting out and want some added funds. The best thing about them is that they offer local deposits in South African Rands to fund your trading account.

This makes it easier for us Saffers to start trading. But more importantly getting your profits out is so easier as its a normal local EFT to your bank account and not a wire transfer where you have to wait a week so you’ll get it to spend it faster (just remember there’s no short cuts to a being a professional trader and you have to take the time and effort to educate yourself with what’s important.

You’ll end up paying for it anyway in blown accounts. I’ve recently written a short review, if you have any experience with them, I’d love to hear it. Click here and tell me what you think of them

They have an easy to sign up for sub-affiliate program so that you can also make money passively from referring other affiliate marketers to earn a passive income.

Another Top South African Broker is Markets.com

Markets.com is operated by Safecap Investments Limited (“Safecap”), a regulated investment services firm authorized by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 092/08 and by the Financial Services Board (“FSB”) in South Africa as a Financial Services Provider under license no. 43906.

They’re perfect for beginner traders and offer a low initial depost (just $100) so that you can dip your feet into the trading market, without a risk of drowning immediately.

Account Types

Classic Trading Account

  • Minimum Deposit requirement of $100
  • Daily Market Analysis
  • Webinars & Video Tutorials Provided
  • Desktop & Mobile Trading

Standard Trading Account

  • Minimum Deposit Requirement of $2500
  • All of Classic account features
  • Dedicated Account Manager
  • Premium Daily Analysis

Premium Trading Account

  • Minimum Deposit of $20,000
  • All features of Premium Account
  • Premium Customer Support

Deposits and Withdrawals

They accepts credit or debit card transfers via Visa, MasterCard and Diners’ Club, along with wire transfers for both deposits and withdrawals, and charge no fees during the deposit/withdrawal process and commits to reimbursing you for any charges incurred by your bank in deposits that exceed the $2,500 mini account limit.

The withdrawal process is initiated following the submission of a withdrawal request form by you. Credit card withdrawals are instant, while withdrawals through other mediums may take up to 3 days at times. In rare cases this process may take longer due to delays in the interbank market.

They also offer a free $25 account to try their services out.  Click Here To Get It Now

Khwezi Trade. Licensed To Earn For You

Khwezi Trade is a special company. Not only are they a licensed broker (FSP 44816) they are also one of the few that have FSB permission to manage your money. I first came across this broker when I was still working as a digital marketing specialist and because I was busy all day, I didn’t promote this company effectively but that’s going to change now.

I intend on actively promoting the mirror trading service this company offers and create a business opportunity for others to follow.

A mirror account is one where someone else, in this case the brokers, trade your account for you.

It requires a minimum of R10,000 and to be part of it the first thing you have to do is create your own trading account. The next step is to ask me for a mirror trading mandate form to fill in and return to start following their mirror strategy.

Step One: Sign up here.

To join the business opportunity, you need to sign up as an Introducing Broker (IB) with Khwezi Trade and then introduce other people using your IB link.

If you need more information about this opportunity or have any questions, please contact me using the form.

Khwezi Trade Business Opportunity

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Blackstone Futures

Blackstone Futures is a new broker which is regulated by the FSB with registration number38782.  I had a conversation with the CEO and he seems committed to making an impact in the South African market.

They offer a promising alternative to the other company here in SA, I’m beginning to create a relationship with them and look forward to seeing how they develop. I’ll update this post when they settle more and start offering the MT4 platform, which I don’t think they do at present.

I also found out that CMTrading is trading under Blackstone’s license, so you’re effectively trading with Blackstone anyway. Its funny how this corporate culture works but anyway, they also offer a SUB-IB account for you and you can sign up by clicking here.

Finally, if you just want to try them out, open a demo account here.

Trade for Free with XM

XM is offering a R347, no deposit bonus to try out their services.

Many brokers are now offering this risk free way to give you a taste of their services.

You probably won’t get rich from this free account, you’ll need a decent size account of at least $500 if you want to start making some real money but if you haven’t ever traded before or you want to see what their service is like, sign up with XM.

Its also a great way to try out their live server for free, which is normally different to a demo account server, before you decide to commit.

They do have some interesting loyalty bonuses that sound like something to investigate.

I haven’t yet, but if you trade with them and take advantage of these, please let me know about how they work.

IronFX is the broker I’m trading a live account with at present

IronFX is one of the most regulated brokers in the world (FSP no 45276) and for particular reasons of their trading platform, I’ve decided to trade my current live account with them. I trust them (up to now).

Their Research & Analysis team get’s global recognition by the most well respected Financial media of the world. There daily market analysis is 100% FREE for clients.

Being a globally trusted brand, IronFX offers instant execution with no slippage or delay.

They offer the best spreads from 0 pips, with your&1 account you can trade 15 platforms and they offer over 200 tradable instruments.  IronFX’s achievements has been recognized by multiple international awarding bodies.

Probably the best reason for us South African’s is that they have an office in Sandton and copy trading, a way to earn a passive income while someone trades your account.

$35 No Deposit Bonus

Like all good brokers that want you to try their platform out, they offer a $35 free account. Check it out here.

Newly Regulated AVATrade Offers Bitcoin Trading

AVAtrade is the latest international broker that’s regulated by the FSB (FSP Number 45984.)

They’re also one of the few brokers that offer Bitcoin trading.

AVATrade also makes it easier for South African traders to enter the market especially with the funding of your account using PayPal or a deposit into a local South African bank.

This makes them one of the more convenient brokers to deal with. I do have a live account with them, but since the training I’m following uses the New York close charts and AVA offers a GMT server, I can’t follow the signals I receive using their charts.

I hope to trade my account with them when I get more confident in my ability to trade all charts and time-frames.

And like all good modern brokers do, they also offer a sub-IB program so that you can earn a passive income from referring other traders as well as other IBs.

Sign up as an affiliate here and earn some passive income from your referrals.

FXPrimus The Safest Place To Trade

FXPrimus is not FSB regulated (yet, I hear from them) but bills itself as the safest place to trade with clients funds being kept in segregated accounts, insurance for bankruptcy and no transaction costs for deposits or withdrawals.

Its because of this important fact (and that they are regulated by other authorities that I list them here and regard them so highly.

They’re also an ECN type broker with STP (Straight Through Processing) so unlike market makers they don’t trade against you, and there’s no conflict of interest. They offer some of the tightest spreads around and seem to have an excellent reputation so if you’re an experienced trader and have had enough of the many market makers hunting for your stop-losses, then check them out.

I’m considering making them my brokers of choice for the mentorship program and when I sufficient funds available I’ll open a live account with them and then move my trading account.

IG is a new broker I’m partnering with

They began in 1974 as IG Index, providing a way for retail investors to speculate on the price of gold. Since then they’ve continued to change the face of trading, establishing themselves as a market leader around the world.

They’re secure

As a large multinational organisation we have strength in resources and stability, with a well-capitalised, debt-free balance sheet and consistently strong growth.

They’re a market leader

With 40 years’ experience they are the No.1 global provider of financial spread betting and CFDs, and hold a market-leading position in many countries, including the UK, Australia, Singapore and France.

ForexTime: A New Broker Regulated in South Africa

FXTM is now licensed by South Africa’s FSB with FSP number 46614.

Like all good (excellent brokers), all of FXTM’s client funds are deposited in segregated accounts at top-tier banks such as Barclay’s and Credit Suisse.

FXTM are one of the few brokers tgat offers all traders an insane leverage of up to 1:1000, tight spreads starting from 0.1 pips, and the ability to trade 100+ instruments.

They provides a great variety of optimised account types, desktop and mobile MT4/MT5 trading platforms, regularly hosts exciting demo and live contests, gives out trade-enhancing bonuses as well as useful free trading tools.

Social Trading With eToro

eToro is one of the first companies to offer social trading. What’s that? Its like combining a trading platform (like MT4) and Facebook.

It allows novice traders to follow the trades of other more professional or traders with more experience and allows you to profit without knowing how to trade.

The first trading account I ever owned was an eToro account and even though I don’t trade it anymore, it is still there and I’m sure that one day I’ll return to it. eToro

Join now and get a $200 deposit bonus to invest with!

ACMGold

ACM Gold and Forex Trading (PTY) Ltd. is an authorized Financial Services Provider in South Africa with a regulated FSP number (FSP– 26164)

They were one of the first brokers that I opened a live account with (I am also an active IB) but because of their GMT based trading server (I need a New York Close chart based on my mentors advice), their market-maker strategy (I now prefer STP brokers, also known as ECN) and their back-office I moved to other brokers.

The biggest advantage of ACM Gold is the local office in Sandton City and the South African bank account they have and I had no problems at all to withdraw the funds from my account.

Blackwell Global

I’ve recently signed up as an IB with Blackwell Global after hearing some good things about them. They’re an STP broker and also one of the few who have insurance so that your funds are protected should the company run into financial difficulty. I first heard about them because of their innovative money management accounts, when I grow up and become a better, more consistently profitable trader, I plan on offering this service, though I don’t know much about it yet.

orbex

I’ve only just discovered Orbex and as a broker I’m really impressed with their offering.

Calling themselves the best forex broker in the world sounds like a lofty claim to make and I intend to find out if they live up to their reputation.

They’ve got a wealth of educational resources on their site, webinars and they seem to understand the churn rate, market maker policy of most other brokers with B-Books and trading desks.

I’m even tempted enough to start a live account soon and report back here on what I find.

InstaForex Offers A No Deposit Bonus of $25

Third Time Lucky and Instaforex, Asia’s favourite broker also offers a no deposit bonus. Be wary of these promotions as some very onerous terms and conditions apply.

I would only recommend it, if you’re absolutely desperate to start trading forex and you have no capital of your own to trade with. Who knows, you may get lucky and turn that measly amount into some serious wealth.

Otherwise you’d be better off either taking their 250% bonus when you deposit your real money or give some love to Liverpool, the Premier League team I follow.

Axitrader is the broker I first started trading seriously with

AxiTrader was the recommend of the mentor I chose and in since I’ve been trading with them they’ve been great and only messed up once with the price feed to their server. It was all fixed very quickly though. While they’re also not regulated by the FSB, they are a broker that’s trusted by many traders around the world and have a trustworthy reputation.

I’m yet to withdraw any money from them (so I can’t tell you about this part of their service yet.) I written a review of their services though, click here to read it.

New legislation has made it a bit harder to open an account at Axitrader, you now need two forms of identity (like an ID document in addition to a passport) to open an account but regardless of the admin issues, they’re a terrific company though and I highly recommend trading with them.

ThinkForex is regulated by the Australian Securities and Investments Commissions (ASIC) in Australia under license number 424700. ThinkForex is also regulated as TF Global Markets (UK) Limited by the Financial Conduct Authority (FCA) in the United Kingdom, with FCA Number 629628.

ThinkForex is a non-dealing desk broker. However, ThinkForex is the counterparty to your trades, which means they employ the market maker business model. They may choose to hedge your trades with a prime brokerage, or leave your positions unhedged.

If you have any questions, need any help or would like to leave a message, please leave a comment or send me an email.

Contact Me

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These are the brokers that I’ve tried out,

I’ll add in some more as I get to try them out and see how they operate.

I believe more will be coming into the local market now as the number of South African’s that are Forex Trading is increasing every day. How’s your trading going?

Please take care with the brokers you eventually do choose, if you would like some help, please contact me,
Browse through the latest articles that these broker’s have provided and use it to make a decision on which broker you’re going to trade with.

Thanks for reading, I hope that you get in touch, its best to add me as a contact:
Haroun Kola
WhatsApp: (082) 561-4455

RoboForex – professional services on Forex market

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