Forex Brokers South Africa

Only The Best Regulated Brokers So You Can Trade Safely

Here are some of the best brokers that serve South African traders. How to choose the best for your trading needs. Great for beginners & some only require a small minimum deposit to start. Some offer free training and regular webinars. More advanced traders can find ECN, STP or NND brokers.

The easiest way to start, is to trade with our sponsors here:

BlackStone FuturesKhwezi Trade

Why Should You Choose A Regulated Broker?

Choosing the right broker is tricky, there are many 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 and you should definitely pay close attention to these brokers offering their services in South Africa as they’ve taken the time to conform to a regulatory authority.

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Blackstone Futures

Blackstone Futures are an STP broker with no dealing desk and they won’t trade against you.

I’ve met the CEO to have a conversation, been to their offices in Rivonia and I think that their level of service is great. They have Rand as well as Dollar Accounts.

I trade a live account with them myself, and I think that they’re just great. I have had no problems thus far.

I highly recommend them.

They’re currently running a competition where you can win R10,000 in a live trading account, find all the details here.

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.

FXPrimus The Safest Place To Trade

FXPrimus operates in Africa under the name Primus Africa (Pty) Ltd, regulated by FSCA, with license number 46675.  FxPrimus markets 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.

Investor’s funds are insured, free of charge by Lloyd’s for up to 2.5 million euros and is available to ALL clients.

They’re also have an ECN type account with STP (Straight Through Processing) so unlike market makers they don’t trade against you, and there’s no conflict of interest.

Recently they posted a video on how to open an account, so you may want to check that out if you’re very interested in signing up with them and would like a short tutorial.

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.

AVATrade Opens An Office in Sandton

AVAtrade is another international broker that’s regulated by the FSB (FSP Number 45984.) and now has a physical presence in the country with their offices in Sandton.

They’re an established broker and looking to grow their presence in the African market.

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.

One Of The Best South African Regulated Broker is CMTrading

CMTrading is regulated with the FSB with number 38782.

With a welcome bonus that goes all the way up to $2000, it’s 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.

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 are no shortcuts 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. is also regulated by the FSCA is operated by Safecap Investments Limited (“Safecap”).

They’re a regulated investment services firm authorized by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 092/08 and by the Financial Services Conduct Authority (“FSCA”) in South Africa as a Financial Services Provider with license no. 43906.

JP Markets

JP Markets is a global Forex powerhouse. They are licensed and regulated by the Financial Services Board, South Africa, FSP 46855.

Negative Balance Protection

The biggest pro for using this broker is that your account will never go into a negative balance (which is theoretically possible with other brokers and which you are liable for)

Zero Fees on deposits and withdrawals because they want you to prosper

They don’t charge you any fees for bank deposits or withdrawals made through their payment gateways. They also offer a prepaid Mastercard so you can get access to your profits quickly. They have a competition where you can win a car.

Their YouTube channel is quite active and I made a profit following one of the trades they suggested.

ICMarkets. A Global ECN Broker

IC Markets is the online forex broker of choice for high volume traders, scalpers and robots.

IC Markets is an Australian-based online ECN forex and Contract for difference (CFD) broker trading in financial derivatives headquartered in Sydney. IC Markets specializes in CFDs over Forex, Indices, Commodities, Bonds, and equity markets in Asia and Europe.

They have spreads from 0.0 pips. Their diverse and proprietary liquidity mix keeps spreads tight 24/5.

FXGiants is the Sister Brand to IronFx

FXGiants is an international online trading broker, giving access to retail and institutional investors, to over 200 tradable instruments from 6 asset classes.

You can trade Bitcoin, with bitcoins or any other instrument among the variety of products they offer, with leverage up to 1:500.

Mt Cook

Mt Cook is a boutique brokerage that offers superior trading conditions for qualifying traders (or those who are following a particular copy trading or PAMM strategy from a money manager on their platform).

You need a minimum of $2,000 to trade a live account if you’re a trader or you need to know of a managed account that you can join to trade with less money.

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.

XM’s traders are some of the most loyal, with regular webinars to attend, multiple account types, as well as a zero account (0 pip spread for selected currency pairs), they do all they can to keep their traders trading successfully and continuously.

For IBs they have also overhauled their website to offer real-time statistics, and payments every week. Check out the advantages here, The news section is filled with real life seminars all around the world for potential traders and give you every opportunity to build a business this way.

Click here to open an IB account.

TD Markets

TD Markets is regulated South Africa by the FSCA with an FSP number of 49128. They’re the preferred broker of Global Forex Institute, the agency that many South Africans are choosing to learn from.

They have some interesting free funding or free training with GFI, if you FICA your account and train with them.

They also supply Direct Market Access and an interesting leverage structure to limit your risk so its easier for beginners not to blow their accounts like most of us do.

Open an account and get some free funds.

Blackwell Global

Blackwell Global is a global brokerage, aiming to be the most trusted financial service provider.

They’re regulated by the FCA, one of the most stringent regulatory around. They claim to be committed to transparency, integrity and service excellence.

They use, Infinitum which is a sophisticated software tool designed specifically to reduce clients and partners administrative workload. This bespoke back-office system provides easy access to your individual profile and trading history, personalising your trading experience.

ZuluTrade & AAAFx

Founded in 2007, ZuluTrade is the world’s first and leading online and mobile Social Trading Platform.

Created in response to the non-existence of a web-based platform that could audit Traders globally and at the same time; enable Traders to share their knowledge with people interested in their strategies.

The ZuluTrade Platform bridged the gap between valuable information in money markets and trade execution by converting the advice of some of the most professional and talented Traders globally, to a service which can rapidly execute trades.

An additional advantage of the ZuluTrade Social Trading Platform is that it provides the ability and ease of driving selected Trades to broker accounts of the interested parties.

In 2017, ZuluTrade has joined forces with Formax Group. Both ZuluTrade and Formax share a vision to become the world‘s largest one-stop financial community that can meet investment requirements by offering customer-focused solutions while also building the largest Social Trading Community in the globe!

Advantages of ZuluTrade:

  • More than 50 Brokers to choose, serving 120 countries
  • 1.5 Million USERS and 30k Traders to follow. A wide variety of available strategies, suitable for a variety of Followers (investors) needs
  • Proprietary platform based on our own advanced technology
  • Unique Auto-trading and risk management features available; such as ZuluRanking and ZuluGuard
  • Automator tool allows a new User to Follow Traders while applying their own rules
  • Unique understanding, insights, and experience in Forex Market, Cryptos, and CFDs
  • Expert Advisors (EAs) and Trading Scripts are supported
  • Seamless UI and UX, ZuluTrade is also available in App stores for Android and ios

AAAfx is the preferred broker to use with ZuluTrade

AAAFx, founded in 2008 is a Forex broker incorporated with the ZuluTrade Forex signals programs and systems. Its main headquarters is situated in Athens, Greece and it is EU regulated and licensed.

AAAFX provides a huge range of currency pairs and engages in metal and oil trading activities.

Client funds are segregated from the company’s operational funds. Segregated client accounts are held across major financial institutions.

Swiss Markets

Swiss Markets is part of the BDSwiss Holding PLC group which was founded in 2012.

Their brand was established in 2016 with the aim to create a competitive environment within which its clients could enjoy secure, transparent and reliable STP trading.

They go above and beyond to provide their clients with the highest possible quality of service and some of the most innovative trading platforms available in the market!

They are a forward-thinking Forex/CFD brokerage and follow a strict client-centric approach, putting traders first.

Swiss Markets is a true STP broker, meaning that all clients’ orders are immediately passed on to liquidity providers.

It should be noted that providing favorable trading conditions, facilitates their clients’ day-to-day transactions but in no case guarantees profits or risk-free investments.

Swiss Markets’ main priority is to assist its traders in every possible respect, giving them all the resources and tools they need to optimize their trading experience.

BDSwiss Offers 24/7 Bitcoin Trading

BDSwiss Holding PLC is authorised and licensed by CYSEC (EU) (License No. 199/13) and I’m beginning to be involved with this broker in a deeper way these days.

BDSwiss offers a number of financial products, platforms, and account types so that everyone, from the novice trader to the market veteran, can find the tools, support, and education they need to trade the Financial Markets.

To begin with, BDSwiss offers some of the lowest spreads and highest leverage ratios in the markets.  You can place positions that are as much as 400 times greater than their invested capital using leverage and take advantage of both falling and rising prices.

You may use more than 50 indicators to help you determine future price direction and there are more than 250 tradeable assets available to choose from, including, commodities like gold and silver, indices like the FTSE100, shares like Google and Apple and of course currency pairs such as the EUR/USD.

BDSwiss also offers a number of platforms for those of you who wish to take trading on the go. You can choose to download the MetaTrader 4 as a desktop application but you may also wish to place your trades on their WebTrader, which includes the same indicators, functionalities and features. Their mobile application was developed in-house and it is intuitive, highly responsive and fully compatible with both iOS and Android devices.

But that’s not all!

For me personally, BDSwiss’ most attractive feature is their adamant support and abundance of educational resources. They go above and beyond to help their traders succeed. They will answer any question and give you a free introduction to the world of trading presenting both the risks and rewards involved!

Their helpful staff will be there to assist you in anything you might need from making your first deposit to placing your positions on the MT4. In their Education Center, you can find free e-courses, video tutorials, market overviews, weekly asset analysis and a great number of webinars to choose from all for free!

BDSwiss is undeniably at the top of my preferred broker list when it comes to secure trading, great potential returns and education opportunities. If you are looking for the optimal trading experience, BDSwiss is your go-to broker!

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 that offers all traders an insane leverage of up to 1:1000 (don’t take them up on this, unless you know what you’re doing. High leverage is terrible if you don’t), tight spreads starting from 0.1 pips, and the ability to trade 100+ instruments.

They provide 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.

Just Forex Banner


Regulated in Belize (license no. IFSC/60/241/TS/16) JustForex is a new broker that I’m interested in. Mainly because they offer trading in Bitcoin (one of my favourite currencies to trade).

JustForex has a very attractive affiliate or IB program, you can choose whether you want to earn revenue share as an IB or a CPA one time payment like an affiliate.

JustForex partner reward starts from $6 per lot.

JustForex is STP/ECN broker and offers low floating spreads, leverage up to 1:3000, easy and fast deposit and withdrawal, double benefit bonus and many other advantages.

The broker provides you with a choice -any trading strategy is allowed.

JustForex affiliate program is multi-level, so you can receive income from your referred clients, referred IBs and sub-IBs as well. Moreover each partner of the broker has an opportunity to get additional 500 USD monthly under the loyalty program.

Click here to check them out.

GBE Brokers

GBE brokers Ltd is a fully regulated European online-broker both for private and institutional traders focused on FX and CFD trading.

They’re regulated and licensed under the Cyprus Securities and Exchange Commission (CYSEC). (CIF license number 240/14). They’re one of the brokers recommended by Forex Varsity, who are one of the better trading education providers with offices in some of the major city centres in South Africa.

Their ECN-trading-servers are located in Equinix LD4 Data center and are directly connected to liquidity providers via fibre optic cable to provide worldwide best execution speed on a Metatrader 4 platform!

GBE brokers Ltd provides same account for: currency trading and trading in a wide range of CFD-products in the fields of indices, commodities and metals (gold, silver, platinum).

You can easily use their trading platforms, the commonly MT4 is also available on Apple Mac and they have mobile apps too.

Test their demo and live platforms now – they claim to keep their promises!

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.

Think Forex Banner


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.


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.

Union Standard Group (USGFX)

Union Standard Group (USGFX) is regulated by the Australian Securities and Investment Commission (ASIC) and holds an Australian Financial Services Licence (AFSL).

Their AFSL number is 302792.

As a regulated foreign exchange and CFD broker, USGFX adheres to strict capital requirements and implements internal procedures including risk management, regular staff training, and strict accounting and auditing processes.

Like all good brokers who secure client’s funds, the funds are held in a segregated trust account with the Commonwealth Bank of Australia, separate from the company’s accounts and funds.

For total beginners, they have a $30 bonus for mini accounts, so deposit a minimum of $100 and get the $30 into your trading account. You need to trade a minimum of 20 standard lots to qualify to withdraw that bonus, so I hope that you are a savvy trader and can turn a profit with that little to get that money free.

They also have regular webinars, so if you need to learn, they have the training available for you.

They also have social trading with ZuluTrader and MyfxBook, so you can make money from the markets without knowing how to trade. Just hire someone else to do so for you.

Here’s some of the benefits of dealing with this broker.

  • Regulated by the Australian Securities & Investment Commission (so tough regulations)
  • Ultra-fast execution of orders with one-click trading
  • Optical fibre connections to interbank servers in New York, London & HK
  • Competitive spreads with low slippage and minimum requotes
  • Segregated Client Funds at the Commonwealth Bank
  • Negative Balance Protection
  • Withdrawals approved within 24 hrs
  • Choose leverage as high as 1:500
  • Structured forex education course – The TradersClub Coaching Program
  • Free access to Trading Central’s award-winning technical analysis.
  • Trade on the world’s most popular trading platform – MT4
  • 24-hour client support by professional and friendly staff
  • Your own dedicated personal Account Manager

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

Latest Blog Posts

I constantly keep this section of the site updated.

Here’s the latest news from these brokers and
here is where you can find all the articles.

Trading CFDs with leverage is risky and you could lose your money. This kind of investment is not suitable for everyone so please ensure that you understand all the risks fully.

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