Forex Brokers in South Africa

Forex Brokers in South Africa and especially the forex trading industry, are growing rapidly. One of the reasons is that the country’s economy is rapidly growing, and thus the demand for financial services increases as well. Another reason is probably the rising regulatory pressure upon forex brokers in Europe, urging them to seek new markets to expand. That is why a number of forex brokers have established operations in South Africa.

The South African market has huge potential for forex brokers in South Africa and related services. It is considered to be the most economically developed country in Africa, and is the only country from the continent that is part of the G20. Its financial, legal, and its communications sectors are well-developed and advanced. What is more, the South African JSE Limited is the largest stock exchange in Africa and among the top 20 in the world.

The Financial Sector Conduct Authority (FSCA) oversees the non-banking financial services industry, which includes collective investment schemes and financial advisors and brokers. It is mostly in charge of the licensing process of financial service providers On of the main responsibilities is to also ensure that the regulated entities comply with the relevant legislation and the capital adequacy requirements in order to protect the investing community. Moreover, the FSCA has enforcement powers to deal with breaches through the enforcement committee, and also runs a customer complaints service, the Office of the Ombud for Financial Services Providers.

Another African country with a booming forex trading industry, that attracts a lot of forex brokers, is Nigeria.

 

Want to trade Forex online in South Africa? Here is a list of forex brokers that offer forex trading in South Africa

 

Rank
Broker
Regulation
Min. Deposit
Min. Spread
Start Trading
1
Fxtm
FCA, CySec, FSB
$5
0.1
Open Account
Review
2
Avatrade
CySec, FCA
$100
2.1
Open Account
3
Plus500
FCA, Cysec
$100

0.7
Open Account
4
Easymarkets
CySec, ASIC
$100

0.8
Open Account
5
24option
CySec
$100
2.1
Open Account
6
Markets.com
CySec,FSB
$100
1.7
Open Account
7
Etoro
CySec,FCA,ASIC
$200
0.6
Open Account
8
Ufx
CySec
$500
0.5
Open Account
9
Cityindex
FCA
$100
1.8
Open Account
10
Forex.com
FCA
$250
1.8
Open Account
11
Fxcm
FCA,ASIC,NFA
$100
1.4
Open Account
12
XM
FCA,CySec,ASIC
$100
2
Open Account
13
Exness
CySec,ASIC
$100
0.9
Open Account
14
Fbs
CySec,IFSC
$1
0.9
Open Account
15
Etx capital
FCA
$100
0.9
Open Account
16
FXPro
FCA,CySec
$100
0.7
Open Account
17
HYCM
FCA,CySec
$100
1.9
Open Account
18
IronFX
FCA,CySec
$100
2.2
Open Account
19
ATFX
FCA,CySec,ASIC
$100
0.8
Open Account
20
Alpari
FCA,CySec,IFSC
$100
0.3
Open Account
21
IQ Options
CySec
$100
1.2
Open Account
22
Libertex
CySec
$100
0.6
Open Account
23
AAA Trade
CySec
$100
0.5
Open Account
24
AETOS
CySec
$100
1
Open Account
25
Q8 trade
CMA
$100
1
Open Account