These brokers are regulated by the FSCA in South Africa and for all intents and purposes are safe to trade with.
If you need to trade with a broker regulated somewhere else, check out this list instead.
And if you need a crash course in how to start trading in South Africa, then I can help you with that too.
Here’s a list of brokers that will give you a free no deposit bonus.
Contact Me For An FSB Regulated Broker
CM Trading – Africa’s Most Popular Broker
CMTrading is regulated with the FSB with number 38782.
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.
I’ve written a review about my experiences with them. Click here to read it and tell me what you think of them too.
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.
GT247 – They’re a very uniquely South African broker.
They allow you to trade a CFD (contract for difference) on JSE stocks so if you’d like to make money on trading some of your favourite local companies and brands, then this is the account for you.
They’ve also recently launched an MT5 platform (instead of the own proprietary platform which was unique, but a bit dated.
I’m trading a new live account with them and their costs are one of the lowest.
Blackstone Futures – They’re an STP broker, 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, find all the details here.
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.
Quick & Sufficient Trading Platforms
Their platform is fast and sufficient for your trading activity. They do not lag and do not re-quote on orders. What you want you get.
Fast, Reliable Deposits & Withdrawals
With their almost instant deposit and almost instant funds withdrawal technology. You can enjoy your success almost instantly. No long waiting periods.
State of the Art Security for your Money
Safety is their top priority. Your money is always save with them and are kept in a separate banking account as requested by the regulator. Your money is safe and secure.
24/7 Friendly Customer Support
Customer Support, one of the most prized position – to what makes them different. They provide support 24 hours a day, 7 days a week. Call
Free Forex training course!
Open a live account and deposit a minimum of R10 000 to qualify for free training and be trained by experienced Forex traders with years of trading experience. Or open a demo account and test out their platform.
Markets.com will give you R250 to try their Live Account
Markets.com 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.
They’ll give you R250 to try their trading conditions out and its something that every new trader should try.
Especially if you haven’t traded before.
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 Offers a 100% Bonus on Deposits
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.
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 accountthat you can join to trade with less money.
TD Markets is regulated in South Africa by the FSCA with an FSP number of 49128. They offer a useful no deposit bonus & free funding for new traders, simply FICA your account by sending your ID and proof of address..
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 when we start trading.
Open an account and get some free funds.
Khwezi Trade – Another STP broker A broker that will train you personally if you fund your account with R50,000 or more. If you fund with at least R15,000, you’ll get a handful of one on one sessions with them.
Unlimited sessions with the R50K deposit.
Well worth checking out, I think.
(You also get a tablet, T&Cs apply)
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.
IronFx – I used to trade a live account with them but they’ve had some really bad press recently and I’m no longer convinced that they have what it takes to keep their traders happy.
My experiences with their Johannesburg office leaves much to be desired, I think they’re lacking sufficient customer and IB support. Your experience may be different, however.
They remain a broker to investigate if you like their brand.