The Best Regulated Forex Brokers That You Can Trade With
Update: When I started this page I was writing mainly about South African based brokers and only those regulated by the Financial Services Board (FSB).
Though I still trade with a SA based broker, BlackStone Futures, I’ve shifted the focus to include all regulated brokers to reflect the many other people I am now meeting up with all over the world. Back to the brokers:
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 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 a 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 on this page or this link and lets talk.
And now the list of brokers, but first, a form to contact me if you need some help on email:
Get in touch with me
GT247 – Trade Forex & Stocks on the JSE as well (*CFD only)
GT247.COM is the #1 online stockbroker and one of the cheapest trading platforms in South Africa.
Their tighter spreads, no platform or monthly fees mean more of your funds go towards your trading, not on costs.
Less cost = More profit.
GT247.COM is a subsidiary and a juristic representative of Purple Group Limited, an authorised Financial Services Provider by the Financial Services Board (FSB) of South Africa, FSB License No. 46315.
They have been offering trading services to South Africans since 2000.
Their minimum deposit is just R2,000 and rather than charging spreads like other brokers, they have an innovative concept of “shading” that make it easy and cheap for traders to trade.
Try them out, you won’t be disappointed.
My Preferred Broker Is Blackstone Futures.
I Trade My Own Live Account With Them
Blackstone Futures is regulated by the FSB with registration number 38782.
Trading Forex, Commodities, Indices and Equity markets in South Africa has never been this appealing with them.
I had a personally met with the CEO before he started operating in South African and I’m very impressed on the impact in the local market.
Since their launch in 2009, trader feedback has been nothing but positive.
If you are looking for an ECN/STP/Non-market maker which allows you to fund and trade in ZAR, then Blackstone Futures is for you.
No currency conversion fees!
Blackstone Futures make withdrawals just as quick as depositing, with next day withdrawals.
They’re conveniently located in The Business Exchange, Rivonia Road, Sandton 2057, South Africa and you can visit them anytime.
Expert or Beginner, they offer a solid platform to grow as a trader.
Need a helping hand?
Their resident expert shares his knowledge and expertise surrounding the Financial Markets.
Trade on MT4 or their Cloudtrade platform!
They also offer a SUB-IB account, sign up by clicking here.
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 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.
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.
Mt.Cook Is For The Professional Trader
Or For Those Joining A Mirror Trading Service
Mt.Cook shares a FSB number of Khwezi Trade which is 44816. In perfectly legal terms, they are an authorized juristic representative. Essentially what it means is that they are licensed to thrill South African traders with their excellent trading conditions.
As you can read for yourself from their story, they started out as traders themselves but then started managing other people’s money and were frustrated by the lack of response from their brokers (most Retail Forex Brokers cater mostly to retail traders and churning them through until their live accounts are blown.
They are a specialist brokerage providing service exclusively to Money Managers, Qualified Signal Providers, Professional Self-Directed Traders, Market Participants/Funds, and Small-Medium Institutions.
if you are a private trader, you must meet their stringent qualifying criteria, but with their excellent trading conditions (ECN, DMA STP and all that jazz) you will happy that you chose them to trade with. They waive their minimum requirements if you’re signing up for some managed solution (I’m in the process of creating a PAMM, I’ve found a trader who shows promise to manage money, its still early days but get in contact if you’d like to learn more about this opportunity)
They have offices in Cape Town, though they only fund via Bank Transfer (not credit card) but don’t let this distract you from trading with them if your circumstances demand you use a superior broker.
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.
They’re one of my all-time favorite broker when it comes to trading Forex and CFDs.
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!
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.
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.
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.
HotForex Is Another Newly Regulated FSB Broker
The HF Markets Group has announced last year that, in addition, to existing licenses and regulation from the Financial Services Commission (FSC) of Mauritius, the Financial Services Authority (SVGFSA) of Saint Vincent and the Grenadines and the Cyprus Securities and Exchange Commission (CySEC); the HotForex brand is now licensed and regulated by the Financial Services Board (FSB) of South Africa , through HF Markets SA (PTY) Ltd, under Financial Service Provider (FSP) license number 46632.
I’ve personally only started working with them now, I haven’t yet started trading an account with them yet. I hope to do so soon.
I like that they have free funding, so even if you’re using a wire transfer to fund your account and your bank charges you for that, they will still fund your account with the amount that you initially transfered.
LMAX Exchange for Professional Traders
LMAX Exchange is mainly for experienced traders as they have a minimum deposit of $10,000. They’re recognised as one of the UK’s fastest growing technology firms.
LMAX Exchange is the trading name of LMAX Limited. LMAX Limited operates a multilateral trading facility. LMAX Limited is authorised and regulated by the Financial Conduct Authority (firm registration number 509778) and is a company registered in England and Wales (number 6505809).
The LMAX Exchange open order book is driven by a no ‘last look’ limit-order liquidity from top tier banks and non-bank financial institutions.
Orders are executed in price/time priority with real time streaming continuous market and trade data published to all members.
They offer a comprehensive range of instruments including spot FX, precious metals, commodities and equity indices and operate a global FX exchange infrastructure with matching engines in London, New York and Tokyo.
If you’re tired of the traditional broker’s offerings and dealing with them and you are a professional trader who can afford the high opening balance then the LMAX Exchange could be for you.
Click here to check them out.
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.
JP Markets is a global Forex powerhouse.
They are licensed and regulated by the Financial Services Board, South Africa, FSP 46855.
Negative Balance Protection
Through the use of an automated transaction monitoring and risk management system, a client’s account will never be allowed to reach negative balance.
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.
Quick & Sufficient Trading Platforms
With high performing and innovative technology, their platforms are fast and sufficient for your trading. 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.
Plus500 Gets FSB Regulation in Early 2017
One broker that I’ve been associated almost forever has recently got its FSB Regulation license. With an FSP number of 47546, Plus500 is now regulated to offer South African traders their services.
Plus500 operates an online trading platform for retail customers to trade CFDs internationally over more than 2,100 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs and foreign exchange.
You can trade CFDs in more than 50 countries and in 31 languages. The trading platform is also accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface), Apple Watch and web browsers).
Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, New Zealand, Israel and South Africa.
Customer care is integral to Plus500: customers cannot lose more than and there are no commissions on trades.
Plus500 offers its customers sophisticated risk management tools to manage their trading positions and a free demo account is available on an unlimited basis for platform users
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorized Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on their websites.
- Your capital may be at risk
- Plus500 is a CFDs service
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.
FXPrimus The Safest Place To Trade
FXPrimus is not FSB regulated (yet, I hear from them, they’re getting their ducks in a row and their papers filed) 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.
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.
I’m considering moving my live account to them and using them for the mentorship program and when I sufficient funds available I’ll open a live account with them and then move my trading account.
Not regulated in South Africa by the FSB but the favourite broker of Global Forex Institiute, the agency that many South Africans are choosing to learn from. They have some interesting free funding or free training if you FICA your account and choose their company to learn from.
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.
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.
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.
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.
Join now, deposit at least $500 and get a $200 bonus to invest with!
I’ve written a more comprehensive review here, but in essence they offer 3 types of accounts.
A Classic account for beginners, a NDD (non-dealing desk) account if you want to trade with no commission but just a floating spread, or an ECN account with a fixed spread but a commission charged (perfect for scalping).
Check out some of their great bonuses if you’re interested in trading with them.
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.
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.
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
IronFX is Regulated With The FSB Amongst Others
IronFX is one of the most regulated brokers in the world (FSP no 45276) and for particular reasons of their trading platform, I’ve still got a small ($50) live account with them.
They’ve had some bad press recently, but (perhaps) because my accounts are still tiny, I haven’t had any problems with them, especially with requesting withdrawals (which seems to be the biggest problem, and some issues with bonuses and IBs)
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.
$35 No Deposit Bonus
Like all brokers that want you to try their platform out, they offer a free $35 account where terms and conditions apply.
If you have any questions, need any help or would like to leave a message, please leave a comment or send me an email.
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:
WhatsApp: (082) 561-4455
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.
Dean looks at the GBPUSD, the EURUSD and the AUDUSD amongst other currency pairs. I’m particular interested in his USDZAR analysis as it seems like this pair could have some volatility. Price has stalled and there could be a selling opportunity at the 13.95 level.
In the index and commodity video, Dean looks at a potential short in oil. Equity markets are in a range bound area, gold and silver price looks like potential shorts are available. In conclusion, many more opportunities in these markets than in the forex markets.
Click here to trade nowread more
Listen to Peter McGuire give his view on oil, currencies and the latest geopolitical crises from around the world. Click here to trade with XM.read more
The EURJPY closed below the 200ma for the second consecutive day. Its reached oversold levels but still looks like it has some more downside possible.
Click here to trade with XM now
This Monday we see that much of the money went into the dollar last week and this is what we’re looking toward this week in the markets. Click here to trade with BlackStone Futures now.read more
Watch XM’s ”Weekly Forex Review and Outlook” to catch up on the past week’s main events and their impact on major currencies and also find out what important economic data will be coming up in the future.
Click here to start trading with XMread more
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A lot of political risk today! We had an airstrike by the US last night in #Syria.
There has been a big jump in #Gold and a flight to the safe haven currencies like #CHF and #JPY.
Equities sold off and don’t forget about #NFP this afternoon. Click here to trade with BlackStone Futures now
Your capital is at risk.read more
Weekly Technical Analysis of the Forex Markets - to guide your trading using technical indicators such as moving averages, RSI, Fibonacci, Ichimoku. Join the seminar for more analysis on pairs. More about XM can be found here. Latest promotions here, as well as the...read more
The start of the new quarter and some setups starting to develop.
We are looking at EURUSD, AUDUSD and the USDCAD.
Click here to start trading with BlackStone Futures now.