South Africa has been increasingly the center of investing activity and the point of interest for many trading experts. ForexExplore introduces a detailed section on today’s Forex brokers in South Africa. Below is the detailed guide to online forex brokers regulated by The Financial Services Board (FSB) is an independent institution, established to oversee the South-African non-banking financial services industry, a reliable regulatory body for South Africa Forex brokers. You can go over the South African Forex brokers reviews rating and comparison we have collected in this section and find the list of top ten Forex brokers in the region for foreign exchange online.
We have composed the featured comparison page for our visitors to view the top ten Forex brokers list in South Africa. The final rating of each brokerage firm is based on hand-picked information including trading platforms, conditions, spreads, leverage, minimum deposit requirements, Forex trading strategies, regulatory authority in charge and more. Each South African Forex broker is rated based on many performance-based factors to eliminate and filter companies with weak conditions and known fraud activity online. In order to create such detailed and reliable list, we make sure to go over each and every broker and find out as much information about it as possible. Brokerage that offers good service, decent trading conditions and outstanding Forex trading platform receives high grade. Our visitors are welcome to take full advantage of this section and search through the list below to review and find the best Forex broker to fit your trading requirements.
Top Online Forex Brokers in South Africa in 2023
South African Forex brokers reviews and comparison by our professional specialists in the industry allows us to create a list of top ten Forex brokers in South Africa for our clients and experienced traders searching for the Top 10 Forex Brokers in Asia to trade with and open demo or real account with. We make sure to list top Asian Forex broker‘s MT4 trading platform and other available platforms either web-based or download for traders who seek the Top 10 Firex Brokers in Asia list with Metatrader 4 online trading platform available.
| Broker | Min Deposit | Platforms | Payments | Leverage | Regulation | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| eToro | 1 | https://forexexplore.com/forex-brokers/etoro-review/ | 200 | 2 | - | https://forexexplore.com/forex-brokers/etoro-review/ | eToro Platform | no | yes | Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer | 1:30; 1:1 for Crypto Currencies | English, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, German | no | yes | CySec, NFA | yes | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||
| AGEA | 0 | https://forexexplore.com/forex-brokers/agea-reviews/ | 1 | 3 | $5 no-deposit bonus | https://forexexplore.com/forex-brokers/agea-reviews/ | Streamster, MetaTrader 4 | yes | yes | Credit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money | 1:500 | English | no | yes | 1 | 0 | 1 | 0 | 0 | 1 | |||||||||||
| AvaTrade | 8 | http://www.avatrade.com/?tag=1574 | 100 | 1 | 100% | yes | https://forexexplore.com/forex-brokers/avatrade-review/ | AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptions | yes | yes | Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney | 1:400 | English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, Indonesian | no | yes | Central Bank of Ireland, ASIC, Financial Services Commission of British Virgin Island | no | yes | no | yes | yes | yes | 1 | 0 | 1 | 0 | 1 | 1 | |||
| CMCMarkets | 2 | https://forexexplore.com/forex-brokers/cmc-markets-review/ | 1 | 0.7 | - | https://forexexplore.com/forex-brokers/cmc-markets-review/ | Next Generation web-based | yes | no | Credit cards, Wire Transfer | 500:1 | English, Chinese, French, Spanish, German | no | no | FCA | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Tifia | 1 | https://forexexplore.com/forex-brokers/tifia-review/ | 10 | 2.5 | https://forexexplore.com/forex-brokers/tifia-review/ | Metatrader 4, webtrader | yes | yes | wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay | 1:1,000 | no | yes | Vanuatu Financial Services Commission VFSC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| LiteFinance | 7 | https://www.litefinance.com/?uid=900002841 | 10 | 3 | 30% + 15% | yes | https://forexexplore.com/forex-brokers/litefinance-review/ | Metatrader 4, Metatrader 5, WebTerminal | yes | yes | Skrill, Webmoney, Bitcoin, Advcash, Credit Card | 1:500 | English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek | no | yes | CySEC, Marshal Islands Business Corporation Act. | yes | no | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 |
| InstaForex | 7 | https://www.instaforex.com/?x=JR | 1 | 0.6 | $100 No Deposit Bonus | yes | https://forexexplore.com/forex-brokers/instaforex-review/ | MetaTrader 4, Metatrader 5, Webtrader | yes | yes | Some local Bank transfers, PayCo, AstroPay, Cryptocurrency | 1:1,000 | English, Russian | yes | yes | RAFMM | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | |||||
| Dukascopy | 4 | https://forexexplore.com/forex-brokers/dukascopy-reviews/ | 250 | 0.5 | - | yes | https://forexexplore.com/forex-brokers/dukascopy-reviews/ | Dukascopy | yes | yes | Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts | 1:500 | English, French, German, Russian, Spanish, Chinese, Japanese, Arabic | KPMG ARIF | yes | 1 | 1 | 0 | 1 | 0 | 1 | ||||||||||
| RealTrade | 1 | https://forexexplore.com/forex-brokers/realtrade-reviews/ | 20 | 3 | 30% welcome bonus | https://forexexplore.com/forex-brokers/realtrade-reviews/ | MetaTrader 4 | no | yes | Credit Cards, WebMoney, and Wire Transfer | 1:500 | English, Russian | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||
| FxPro | 5 | https://forexexplore.com/forex-brokers/fxpro-review/ | 100 | 0.5 | up to $1,000 | yes | https://forexexplore.com/forex-brokers/fxpro-review/ | FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium | yes | yes | Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill | 1:500 | Arabic, Chinese, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese | no | no | FCA, CySEC | yes | yes | no | yes | 1 | 0 | 1 | 0 | 1 | 1 | |||||
| FXOpen | 1 | https://www.fxopen.com/ | 1 | 2 | $100 | https://www.forexexplore.com/forex-brokers/fxopen-reviews | MetaTrader 4 | no | yes | Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney | 1:500 | English | no | no | ASIC, FCA UK, Financial Dispute Resolution Scheme | yes | yes | no | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | |||||
| PrimeXBT | 4 | https://go.primexbt.com/click?pid=2298&offer_id=12 | 1 | https://www.forexexplore.com/forex-brokers/primexbt-review | PrimeXBT, Turbo | yes | no | Credit Cards | 1:1000 | yes | ASIC | yes | yes | yes | yes | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||
| ActivTrades | 2 | https://www.forexexplore.com/forex-brokers/activtrades-reviews | 100 | 2 | https://www.forexexplore.com/forex-brokers/activtrades-reviews | Metatrader 4, Activtrader | yes | yes | Credit Card, Wire transfer, neteller, skrill, sofort | 1:400 | English, German, Spanish, Italian, French, Portuguese | no | no | FCA | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||
| House of Borse | 1 | https://www.forexexplore.com/forex-brokers/house-of-borse-review | 50000 | 0.8 | https://www.forexexplore.com/forex-brokers/house-of-borse-review | MetaTrader 4 | no | yes | credit cards, wire transfer | 1:100 | no | no | FCA UK | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FXDD | 3 | http://www.fxdd.com/ | 100 | 2 | - | https://www.forexexplore.com/forex-brokers/fxdd-reviews | MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtreme | no | yes | Wire, PayPal, Check, BPS | 1:200 | English, Chinese, Japanese, Russian, Spanish, Portuguese, German, French, Turkish, Arabic, Vietnamese | yes | Malta Financial Services Authority (MFSA) | yes | 1 | 1 | 1 | 0 | 0 | 0 | ||||||||||
| FXCM | 5 | https://www.forexexplore.com/forex-brokers/fxcm-review | 250 | 2 | - | yes | https://www.forexexplore.com/forex-brokers/fxcm-review | Trading Station II, MetaTrader 4, Active Trader, Forex System Selector | no | yes | Credit/Debit card, Online Check, Bank Wire, Paper Check | 1:200 | Spanish, French, Chinese, Russian, Portuguese, German, Italian, Arabic | yes | UK Financial Conduct Authority, AFSL | yes | yes | yes | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||
| Hotforex | 2 | https://www.forexexplore.com/forex-brokers/hotforex-review | 5 | 2 | 100% bonus | https://www.forexexplore.com/forex-brokers/hotforex-review | Metatrader 4, mobile platform, rapid trader fix/api | yes | yes | credit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay | 1:1,000 | no | no | yes | no | yes | 0 | 0 | 1 | 0 | 0 | 1 | |||||||||
| Oanda | 3 | https://www.forexexplore.com/forex-brokers/oanda-reviews | 1 | 1.4 | https://www.forexexplore.com/forex-brokers/oanda-reviews | Metatrader 4, FXtrade | yes | yes | check, Credit cards, PayPal, Wire transfer | 1:50 | English, Chinese, German, Spanish, French, Italian, Portuguese and Russian | yes | no | NFA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| Saxo Bank | 2 | http://www.saxobank.com | 5000 | 2 | n/a | https://www.forexexplore.com/forex-brokers/saxobank-reviews | SaxoTrader | no | yes | Wire | 1:100 | English, Belgium, German, French, Spanish, Italian, Arabic, Romanian, Russian, Polish | Danish Financial Services Authority and operates in the UAE | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
| Forex.com | 4 | http://www.forex.com/ | 50 | 2 | - | https://www.forexexplore.com/forex-brokers/forex-reviews | ForexTrader platform (in-house), MetaTrader 4 | yes | yes | wire transfer, Credit/Debit Card, Check | 1:200 | English, Russian, Japanese, Arabic, Turkish, German, Chinese, Albanian, Thai, Italian, Hebrew, Greek | yes | no | CFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan) | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| HYCM | 4 | https://www.forexexplore.com/forex-brokers/hycm-reviews | 100 | 2 | 25% up to $5,000 | https://www.forexexplore.com/forex-brokers/hycm-reviews | Metatrader 4 | no | no | credit cards, wire transfer, Skrill, webmoney | 1:400 | English, Chinese, Arabic | no | no | FCA UK, CySEC, SFC | no | no | no | yes | 1 | 0 | 0 | 0 | 1 | 1 | ||||||
| AdmiralMarkets | 1 | https://forexexplore.com/forex-brokers/admiral-markets-reviews/ | 10 | 3 | n/a | https://forexexplore.com/forex-brokers/admiral-markets-reviews/ | MetaTrader 4 | no | yes | Wire | 1:200 | English, Spanish, Russian, Lithuanian, Romanian, Latvian, Bulgarian, Greek, Croatian, Polish, Hungarian, Czech, Italian, Estonian, German, Finnish, Portuguese | 0 | 0 | 1 | 0 | 0 | 0 | |||||||||||||
| Alpari | 2 | https://forexexplore.com/forex-brokers/alpari-review/ | 1 | 2 | 50% Welcome | https://forexexplore.com/forex-brokers/alpari-review/ | MetaTrader 4 | no | yes | Debit or Credit Card, Wire Transfer | 1:500 | English, Chinese, German, and Arabic | yes | yes | 0 | 1 | 1 | 0 | 0 | 1 | |||||||||||
| Fort Financial Services | 1 | https://forexexplore.com/forex-brokers/fort-financial-reviews/ | 5 | 3 | https://forexexplore.com/forex-brokers/fort-financial-reviews/ | MetaTrader 4, CQG, Ninja trader, binary options | yes | yes | Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer | 1:1,000 | English | no | no | IFSC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||
| Blackwell Global | 2 | https://forexexplore.com/forex-brokers/blackwell-global-review/ | 2000 | 3 | - | https://forexexplore.com/forex-brokers/blackwell-global-review/ | MetaTrader 4, Blackwell Pro, Mobile | yes | yes | redit/debit cards, Neteller, Skrill, Wire transfer | 1:200 | Arabic, Chinese, English, Greek, Italian, Korean, French, Romanian | Financial Conduct Authority | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||||||
| AAAfx | 2 | https://forexexplore.com/forex-brokers/aaafx-reviews/ | 300 | 0.2 | up to 30% | https://forexexplore.com/forex-brokers/aaafx-reviews/ | ZTP, MetaTrader 4, Binary options webtrader, Zulutrade | yes | yes | Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin | 1:200 | Arabic, Chinese, English, French, German, Greek, Italian, Japanese, Russian | no | yes | HCMC (Greece) | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| XTB | 2 | https://forexexplore.com/forex-brokers/xtb-reviews/ | 250 | 2 | https://forexexplore.com/forex-brokers/xtb-reviews/ | Metatrader 4, xStation, xMobile | yes | yes | Credit cards, Neteller, Paypal, Skrill, Wire transfer | 1:200 | no | no | CNMV (Spain), FCA (UK), FSA (Poland) | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| iFOREX | 3 | https://forexexplore.com/forex-brokers/iforex-reviews/ | 100 | 3 | - | https://forexexplore.com/forex-brokers/iforex-reviews/ | FXnet Trader | yes | yes | credit cards, wire transfer | 1:400 | English, Hebrew, Indonesian, German, Spanish, French, Italian, Nederlands, Portuguese, Romanian, Turkish, RUssian, Arabic, Chinese, Japanese | no | no | HFSA in Hungary, CySEC | no | no | no | 1 | 0 | 1 | 0 | 0 | 1 | |||||||
| Oinvest | 0 | https://forexexplore.com/forex-brokers/oinvest-review/ | 200 | 0.7 | Samsung Galaxy, iPhone | no | https://forexexplore.com/forex-brokers/oinvest-review/ | Metatrader 4 | yes | yes | Skrill, Neteller, Credit Cards | 1:200 | no | yes | yes | yes | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 0 | |
| Plus500 | 5 | https://forexexplore.com/forex-brokers/plus500-reviews/ | 500 | 2 | 30% | yes | https://forexexplore.com/forex-brokers/plus500-reviews/ | Plus500 | yes | no | Skrill, Credit Cards, Wire Transfer | 1:200 | English, Hebrew, Arabic | Israel Securities Authority | 1 | 0 | 0 | 0 | 1 | 0 | |||||||||||
| TraderTrust | 1 | http://traders-trust.com/ | 100 | as low as 2 | 100% upto $5,000 | https://www.forexexplore.com/forex-brokers/tradertrust-reviews | SmartForex | no | yes | Skrill, Credit Cards | 1:200 | English, Russian, Italian, and Arabic | CySec, VFCS | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| AdvancedMarkets | 3 | https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews | 500 | 0-2.5 | - | https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews | Advanced Trader/Pro/Prime, Fortex FX | no | yes | Wire, Check | 1:50 | English, Spanish, Korean | Australian AFSL, ASIC | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| XM | 7 | http://clicks.pipaffiliates.com/afs/come.php?id=27&cid=3689&ctgid=16&atype=1 | 5 | 1 | $30 no deposit | yes | https://www.forexexplore.com/forex-brokers/xm-review | MetaTrader 4, Metatrader 5, XM Webtrader | yes | yes | Credit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer | 1:888 | Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, Vientamese | no | CySEC, ASIC Australia, IFSC Belize | no | yes | yes | no | yes | no | 1 | 0 | 1 | 0 | 1 | 1 | ||||
| Anzo Capital | 2 | https://anzocapital.com/ | 100 | 2 | https://www.forexexplore.com/forex-brokers/anzo-capital-review | MetaTrader 4 | yes | yes | Webmoney, Skrill, Neteller, Credit Cards | 1:1000 | English, Chinese | no | no | yes | yes | yes | yes | yes | no | no | yes | no | no | 1 | 1 | 0 | 0 | 0 | 1 | ||
| MEX Exchange | 1 | https://www.mexexchange.com/ | 25 | 0.2 | https://www.forexexplore.com/forex-brokers/mex-exchange-review | Metatrader 4 | no | yes | Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer | 1:500 | no | no | ASIC | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| FBS | 1 | https://www.forexexplore.com/forex-brokers/fbs-review | 1 | from 0,2 pips fixed/floating | $123 Welcome Bonus | https://www.forexexplore.com/forex-brokers/fbs-review | MetaTrader 4, Metatrader 5, Webtrading | yes | yes | credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill | up to 1:3,000 | English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Thai, Tamil | IFSC; Cysec | yes | yes | yes | yes | 1 | 0 | 1 | 0 | 0 | 1 | ||||||||
| FP Markets | 3 | http://go.fpmarkets.com/visit/?bta=35186&nci=5369 | 200 | starting from 0 | 10% credit bonus | https://www.forexexplore.com/forex-brokers/fpmarkets-review | MetaTrader 4 (MT4), IRESS, Mobile trading | yes | yes | credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer | 1:500 | English, Bahasa Melayu, French, Finish, Chinese, Norwegian, Russian, Thai, Italian, German, Portuguese, Spanish and Swedish | no | yes | ASIC | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||
| DFMarkets | 3 | http://www.dfmarkets.co.uk | 100 | from 0.1 pips | 10% Trading Credit Promotion up to $1,000 | https://www.forexexplore.com/forex-brokers/dfmarkets-reviews | DFTrader, DF WebTrader, DF Mobile | yes | yes | Bank wire, Credit/Debit cards | 1:200 | English | no | no | FCA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||
| EasyMarkets | 2 | http://www.easymarkets.com | 100 | 2.5 | https://www.forexexplore.com/forex-brokers/easymarkets-review | Metatrader 4, EasyMarkets web-based platform | yes | yes | credit cards, neteller, Skrill, Webmney, wire transfer | 1:100 | no | no | ASIC (Australia), CySEC (Cyprus) | no | no | no | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||
| OctaFX | 9 | http://octaengine.com/c/?p=566&bt=gif&b=2368 | 50 | from 0.2 | up to 50% | yes | https://www.forexexplore.com/forex-brokers/octafx-reviews | MetaTrader 4, Metatrader 5, cTrader | yes | yes | Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay | 1:500 | English | yes | FCA UK | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||
| IronFX | 4 | https://www.forexexplore.com/forex-brokers/ironfx-reviews | 100 | 0 | 40% | yes | https://www.forexexplore.com/forex-brokers/ironfx-reviews | Metatrader 4 | yes | yes | credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer | 1:500 | English | no | yes | ASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFIN | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||
| FxGlory | 0 | https://forexexplore.com/forex-brokers/fxglory-review/ | 1 | 0.5 | 50% up to $1,000 | https://forexexplore.com/forex-brokers/fxglory-review/ | MetaTrader4, Mobile | no | yes | Credit/debit cards, Paypal, Bitcoin | 1:3,000 | English | yes | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||||
| TrioMarkets | 0 | https://forexexplore.com/forex-brokers/triomarkets-review/ | 100 | 3 | - | https://forexexplore.com/forex-brokers/triomarkets-review/ | MetaTrader 4, Sirix Webtrader | yes | yes | Credit Card, Wire, Skrill, Neteller, Paypal and CashU | 1:300 | English, Arabic, French, Italian, German | no | yes | CySEC | no | yes | no | 1 | 0 | 1 | 0 | 0 | 0 | |||||||
| CityIndex | 2 | https://forexexplore.com/forex-brokers/cityindex-review/ | 100 | 2 | - | https://forexexplore.com/forex-brokers/cityindex-review/ | MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet App | yes | yes | Credit/Debit Cards | 1:400 | English | Trademark of GAIN Capital UK Ltd - Regulated by FCA | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||||
| Markets.com | 2 | https://forexexplore.com/forex-brokers/markets-com-review/ | 100 | 2 | up to $2,000 | https://forexexplore.com/forex-brokers/markets-com-review/ | Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTrader | yes | yes | Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments | 1:200 | English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, Swedish | CySEC, FSCA South Africa | yes | yes | 1 | 1 | 1 | 0 | 0 | 0 | ||||||||||
| Orbex | 0 | https://forexexplore.com/forex-brokers/orbex-review/ | 500 | 1.6 | https://forexexplore.com/forex-brokers/orbex-review/ | MetaTrader 4 | no | yes | Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney | 1:500 | English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu, Greek | no | no | CySEC | yes | yes | no | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CMTrading | 4 | https://forexexplore.com/forex-brokers/cmtrading-review/ | 200 | 2 | 15% match | https://forexexplore.com/forex-brokers/cmtrading-review/ה | MetaTrader 4, Sirix | yes | yes | credit/debit cards, Wire transfer, CashU ,Skrill | 1:400 | Financial Services Board (FSB) South Africa | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||||
| Accent Forex | 0 | https://forexexplore.com/forex-brokers/accentforex-review/ | 10 | 3 | 50% | no | https://forexexplore.com/forex-brokers/accentforex-review/ | MetaTrader 4 | no | yes | WebMoney, OkPay, Skrill, Wire Transfer, Credit Cards | 1:500 | English | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||||
| Grand Capital | 0 | https://forexexplore.com/forex-brokers/grandcapital-review/ | 10 | 2 | $500 no deposit | https://forexexplore.com/forex-brokers/grandcapital-review/ | MetaTrader 4, WebTrader | yes | yes | Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney | 500:1 | English, Russian, Chinese, Indonesian | yes | no | Financial Commission FinaCom, EDR Hong Kong external dispute resolution organization | yes | no | no | 1 | 0 | 1 | 0 | 0 | 1 | |||||||
| Simplefx | 1 | https://forexexplore.com/forex-brokers/simplefx-reviews/ | 1 | 1 | https://forexexplore.com/forex-brokers/simplefx-reviews/ | MetaTrader 4 and in-house web-based platform | yes | yes | Wire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin | 1:100 | no | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Alvexo | 0 | https://forexexplore.com/forex-brokers/alvexo-review/ | 5000 | 3.3 | - | https://forexexplore.com/forex-brokers/alvexo-review/ | MetaTrader 4, WebTrader, Mobile | yes | yes | Cash-U, Credit Card, Webmoney, Wire Transfer | 400:1 | English, French | no | no | CySEC | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| NSFX | 0 | https://forexexplore.com/forex-brokers/nsfx-review/ | 300 | 3 | https://forexexplore.com/forex-brokers/nsfx-review/ | Metatrader 4, Webtrader, NSFX Jforex platform | yes | yes | credit cards, Skrill, CashU and wire transfer | 200:1 | English, Arabic, German, Turkish and Italian | no | no | MFSA | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Synergy FX | 1 | https://forexexplore.com/forex-brokers/synergyfx-reviews/ | 500 | 2 | https://forexexplore.com/forex-brokers/synergyfx-reviews/ | MetaTrader 4 | no | yes | credit cards, skrill, wire transfer | 1:500 | no | yes | ASIC, AFSL | yes | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| FXGrow | 0 | https://forexexplore.com/forex-brokers/fxgrow-review/ | 100 | 0.8 | - | https://forexexplore.com/forex-brokers/fxgrow-review/ | MetaTrader 4, NetStation | yes | yes | Credit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer | 200:1 | English | 0 | 0 | 1 | 0 | 0 | 0 | |||||||||||||
| Juno Markets | 0 | https://forexexplore.com/forex-brokers/juno-markets-review/ | 500 | 3 | - | https://forexexplore.com/forex-brokers/juno-markets-review/ | MetaTrader 4 | no | yes | neteller, skrill, credit cards, wire transfer | 1:400 | English | no | no | FinaCom | no | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Tickmill | 3 | https://forexexplore.com/forex-brokers/tickmill-review/ | 100 | 1.2 | - | https://forexexplore.com/forex-brokers/tickmill-review/ | MetaTrader 4, Webtrader | yes | yes | wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney | 1:500 | no | yes | FCA UK, FSA Seychelles | yes | yes | no | yes | 1 | 1 | 1 | 0 | 1 | 1 | |||||||
| TeleTrade | 0 | https://forexexplore.com/forex-brokers/teletrade-review/ | 2000 | 5 | 24% | https://forexexplore.com/forex-brokers/teletrade-review/ | MetaTrader 4, Mobile | no | yes | credit cards, Wire transfer, Neteller, Skrill | 1:200 | English, Russian | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||
| Financika | 1 | https://forexexplore.com/forex-brokers/financika-reviews/ | 250 | 2 | https://forexexplore.com/forex-brokers/financika-reviews/ | Profit, WebProfit, MetaTrader 4 | yes | yes | credit cards, wire transfer | 200:1 | no | no | no | no | no | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| TenkoFX | 3 | https://forexexplore.com/forex-brokers/tenkofx-review/ | 10 | 3 | https://forexexplore.com/forex-brokers/tenkofx-review/ | MetaTrader 4, Webtrader | yes | yes | Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi | 1:500 | English | no | no | International Financial Services Commission of Belize | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| KGIeworld | 0 | https://www.forexexplore.com/forex-brokers/kgieworld-review | 1000 | 3 | - | https://www.forexexplore.com/forex-brokers/kgieworld-review | MetaTrader 4 | no | yes | Wire Transfer, Check | 1:50 | English | no | no | MAS | no | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| Abshire-Smith | 0 | http://www.abshire-smith.com/ | 500 | 1.8 | https://www.forexexplore.com/forex-brokers/abshire-smith-reviews | Vertex fx, Metatrader 4, straticator | no | yes | CashU, Neteller, Skrill, Wire Transfer | 1:200 | no | no | FCA | yes | 1 | 0 | 1 | 0 | 0 | 0 | |||||||||||
| Alfa Financial | 0 | http://www.alfafinancials.com | 10000 | $1 plus $15 commissions | https://www.forexexplore.com/forex-brokers/alfa-financial-review | MetaTrader 4, AX1Trader | yes | yes | 1:100 | English | no | no | Central Bank UAE | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| Blueberry Markets | 4 | https://www.blueberrymarkets.com | 100 | 1.5 | https://www.forexexplore.com/forex-brokers/blueberry-markets-reviews | MetaTrader 4 | no | yes | credit cards, wire transfer, POLi, Skrill | 1:500 | no | no | ASIC | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CIBfx | 0 | http://www.cibfx.com | 100 | 1 | https://www.forexexplore.com/forex-brokers/cibfx-review | MetaTrader 4 | yes | yes | Paypal, Skill, Credit Cards, Neteller | 1:200 | no | no | VSFC | no | yes | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| BlackBull Markets | 6 | https://go.blackbullmarkets.com/visit/?bta=39396&brand=blackbull | 200 | 0.8 | yes | https://www.forexexplore.com/forex-brokers/blackbull-markets-review | Metatrader 4, Metatrader 5 | yes | yes | Bank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay | 1:500 | yes | no | Financial Services Provider | yes | yes | yes | no | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||
| Darwinex | 0 | https://www.darwinex.com/ | 500 | 1 | https://www.forexexplore.com/forex-brokers/darwinex-review | MetaTrader 4, cTrader | yes | yes | Bank Wire, Credit Cards, UnionPay | 1:200 | no | yes | FCA | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| Eightcup | 0 | https://www.eightcap.com/ | 100 | 1 | https://www.forexexplore.com/forex-brokers/eightcap-review | Metatrader 4 | no | yes | 1:500 | no | no | ASIC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||||||
| ETX Capital | 0 | https://www.etxcapital.com/ | 100 | 1 | https://www.forexexplore.com/forex-brokers/etxcapital-review | ETX Trader Pro, Metatrader 4, ETX binary | yes | yes | credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay | 1:200 | no | no | FCA | no | no | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FCI Markets | 1 | http://www.fci-markets.co.uk/ | 250 | 0.2 | https://www.forexexplore.com/forex-brokers/fci-markets-reviews | Currenex, FCI NetStation, MetaTrader 4 | yes | yes | credit cards, neteller, skrill, wire transfer | 1:100 | no | yes | FCA | yes | yes | no | 1 | 1 | 0 | 0 | 0 | 0 | |||||||||
| Fortrade | 1 | https://www.fortrade.com/ | 500 | 3 | https://www.forexexplore.com/forex-brokers/fortrade-reviews | Fortrader | yes | yes | wire transfer, credit cards, skrill, neteller | 1:200 | no | no | FCA | no | no | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| FX Giants | 1 | https://forexexplore.com/forex-brokers/fxgiants-reviews/ | 500 | 2.2 | https://forexexplore.com/forex-brokers/fxgiants-reviews/ | MetaTrader 4 | no | yes | credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer | 1:500 | no | no | FCA | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| FXGlobe | 1 | https://forexexplore.com/forex-brokers/fxglobe-reviews/ | 250 | 0.7 | https://forexexplore.com/forex-brokers/fxglobe-reviews/ | MetaTrader 4 | no | yes | Credit cards, Neteller, Skrill, Wire transfer | 1:500 | no | no | CySEC | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||
| FXonus | 1 | https://forexexplore.com/forex-brokers/fxonus/ | 500 | 3 | https://forexexplore.com/forex-brokers/fxonus/ | MetaTrader 4 | yes | yes | Credit Cards, Skrill, Neteller, Wire Transfer, China Union Pay | 1:500 | no | no | no | yes | no | no | 0 | 1 | 0 | 0 | 0 | 1 | |||||||||
| FXoro | 1 | https://forexexplore.com/forex-brokers/fxoro-reviews/ | 200 | 3 | https://forexexplore.com/forex-brokers/fxoro-reviews/ | Metatrader 4 | no | yes | credit cards, wire transfer, skrill, neteller, ecoPayz, CashU | 1:400 | no | no | CySEC | yes | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| FXprimus | 1 | https://forexexplore.com/forex-brokers/fxprimus-reviews/ | 100 | 0.3 | https://forexexplore.com/forex-brokers/fxprimus-reviews/ | Metatrader 4 | no | yes | Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer | 1:500 | no | no | Cysec | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||
| Infinox | 1 | https://forexexplore.com/forex-brokers/infinox-reviews/ | 100 | 1.5 | https://forexexplore.com/forex-brokers/infinox-reviews/ | Metatrader 4 | no | yes | credit cards, wire transfer, skrill, neteller, china unionpay | 1:300 | no | bo | FCA UK | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| JCMFX | 1 | https://forexexplore.com/forex-brokers/jcmfx-review/ | 10 | 1.8 | https://forexexplore.com/forex-brokers/jcmfx-review/ | MetaTrader 4 | no | yes | credit cards, FasaPay, Wire Transfer, Neteller, Skrill | 1:1,000 | no | no | FSA | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Larson&Holz | 1 | https://forexexplore.com/forex-brokers/larson-holz-review/ | 100 | 0 | https://forexexplore.com/forex-brokers/larson-holz-review/ | Metatrader 4, Web Trader | yes | yes | credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money | 1:500 | no | no | FMRRC, NAFD | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| LCG | 1 | https://forexexplore.com/forex-brokers/lcg-reviews/ | 1 | 1.6 | https://forexexplore.com/forex-brokers/lcg-reviews/ | MetaTrader 4, LCG Trader (web-based, ECN accounts only) | yes | yes | wire transfer, debit/credit cards, Skrill | 1:500 | no | no | FCA UK | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| LMFX | 1 | https://www.lmfx.com/ | 50 | 1.8 | 100% match bonus, 15% recovery | https://www.forexexplore.com/forex-brokers/lmfx-review | Metatrader 4, Webtrader | yes | yes | credit cards, Fasapay, neteller, okpay, skrill, wire transfer | 1:1,000 | yes | no | no | yes | no | yes | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||
| LQDFX | 1 | https://www.lqdfx.com/ | 20 | 1 | https://www.forexexplore.com/forex-brokers/lqdfx-review | MetaTrader 4, xStation | yes | yes | Wire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal | 1:500 | no | no | no | yes | yes | no | 0 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Mahi FX | 1 | https://mahifx.com/ | 1 | 1 | https://www.forexexplore.com/forex-brokers/mahifx-reviews | Metatrader 4, MahiFX | yes | yes | wire transfer, credit cards | 1:100 | no | no | FCA UK, ASIC, FMA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| Paxforex | 1 | https://paxforex.com/ | 10 | No deposit $7 bonus – cannot withdraw | https://www.forexexplore.com/forex-brokers/paxforex-reviews | MetaTrader 4 | no | yes | Credit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer | 1:500 | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Pricemarkets | 1 | https://pricemarkets.com | 500 | 2.5 | https://www.forexexplore.com/forex-brokers/pricemarkets-review | MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FX | yes | yes | wire transfer, credit cards | 1:400 | yes | no | FCA UK | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Rallytade | 1 | https://www.forexexplore.com/forex-brokers/rallytrade-review | 100 | 1.6 | https://www.forexexplore.com/forex-brokers/rallytrade-review | Metatrader 4, xStation (web-based), xSocial, xOptions | yes | yes | credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay | 1;1,000 | yes | yes | FinaCOM | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Range Markets | 1 | https://www.rangeforex.com/ | 100 | 3 | https://www.forexexplore.com/forex-brokers/range-markets-reviews | Metatrader 4 | no | yes | Neteller, Credit Cards, wire transfer | 1:500 | no | no | FSA of St. Vincent and the Grenadines | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Rekuten Securities | 1 | https://www.forexexplore.com/forex-brokers/rakuten-reviews | 1 | 0.7 | https://www.forexexplore.com/forex-brokers/rakuten-reviews | MarketSpeed FX, Trading Station (inherited from FXCM) | yes | yes | wire transfer, checks, ATM (only for local residents) | 1:50 | no | no | SFC | no | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Roboforex | 1 | http://www.roboforex.com/ | 1 | 2 | https://www.forexexplore.com/forex-brokers/roboforex-review | MetaTrader 4, cTrader | yes | yes | credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money | 1:500 | no | no | Cysec, IFSC, FSP, FSCL | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Swissmarkets | 0 | https://www.swissmarkets.com/?campaign=1341&p1=&p2=334&p3=6m8j8j7w#signup | 200 | 1.2 | https://www.forexexplore.com/forex-brokers/swissmarkets-review | Metatrader 4, Webtrader | yes | yes | credit cards, wire transfer, neteller, skrill, iDEAL, giropay | 1:500 | no | no | CySEC, MiFID | no | yes | no | 1 | 0 | 0 | 1 | 0 | 1 | |||||||||
| Trade360 | 0 | https://www.trade360.com/ | 100 | 1.8 | 35%, $60 no deposit for real account | https://www.forexexplore.com/forex-brokers/trade360-review | Trade360 | yes | no | credit cards, skrill, neteller, wire transfer | 1:1,000 | no | no | CySEC | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||
| Tradersway | 1 | https://forexexplore.com/forex-brokers/traders-way-reviews/ | 0 | 1 | https://forexexplore.com/forex-brokers/traders-way-reviews/ | Metatrader 4, ctrader | yes | yes | Skrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU | 1:1,000 | no | no | no | yes | yes | no | 0 | 1 | 0 | 0 | 0 | 1 | |||||||||
| Trading212 | 1 | https://forexexplore.com/forex-brokers/trading212-review/ | 100 | 2.5 | https://forexexplore.com/forex-brokers/trading212-review/ | Trading212 | yes | no | wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay | 1:200 | no | no | FCA UK | no | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Turnkey | 1 | https://forexexplore.com/forex-brokers/turnkey-forex-reviews/ | 5 | 2 | 100% deposit bonus; 30 days of commission-free trading; 30% rescue bonus | https://forexexplore.com/forex-brokers/turnkey-forex-reviews/ | MetaTrader 4, Trade Station | yes | yes | credit cards, wire transfer, neteller | 1:200 | yes | yes | no | yes | yes | yes | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Whaleclub | 1 | https://forexexplore.com/forex-brokers/whaleclub-reviews/ | 1 | 1 | https://forexexplore.com/forex-brokers/whaleclub-reviews/ | in-house whaleclub web platform | yes | no | bitcoin | 1:100 | no | no | no | no | no | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| Z.com Trade | 3 | https://forexexplore.com/forex-brokers/z-com-trade-reviews/ | 1 | 1.4 | https://forexexplore.com/forex-brokers/z-com-trade-reviews/ | Z.com trader web, Z.com trader pro (demo account only) | yes | yes | credit cards, wire transfer, china unionpay, skrill | 1:200 | no | no | FCA UK | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FreshForex | 1 | https://forexexplore.com/forex-brokers/freshforex-review/ | 1 | 0.9 | 101% | https://forexexplore.com/forex-brokers/freshforex-review/ | Metatrader 4, Metatrader 5 | yes | yes | Debit/credit cards, Neteller, OKPAY, W1, QIWI, Webmoney, Skrill, FasaPay, Contact, Wire transfer | 1:1000 | Russian, English, German, Chinese, Arabic, Italian | no | yes | Financial Services Authority of Saint Vincent and the Grenadines | yes | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 1 | 1 | |
| ForexMart | 0 | https://forexexplore.com/forex-brokers/forexmart-review/ | 1 | 0.0 | $150 no deposit needed | https://forexexplore.com/forex-brokers/forexmart-review/ | Metatrader 4 | yes | yes | credit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin | 1:1,000 | no | no | CySEC | no | yes | yes | yes | yes | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||
| Pepperstone | 3 | https://forexexplore.com/forex-brokers/pepperstone-review/ | 200 | 1.2 | 100% Match Bonus | https://forexexplore.com/forex-brokers/pepperstone-review/ | Metatrader 4, Metatrader 5, cTrader, cAlgo, cMirror | yes | yes | bPay, credit cards, Paypal | 1:500 | English | yes | yes | ASIC, FCA UK | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | ||
| Forexee | 0 | https://forexexplore.com/forex-brokers/forexee-review/ | 50 | 0.5 plus commissions | Special trading commission $1, Welcome Bonus $15 for STP, 0% commission for deposits | https://forexexplore.com/forex-brokers/forexee-review/ | MetaTrader 4 | no | yes | Credit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money | 1:500 | English | no | no | no | yes | yes | no | yes | 0 | 1 | 0 | 0 | 0 | 1 | ||||||
| AETOS | 0 | https://forexexplore.com/forex-brokers/aetos-review/ | 250 | 2 | https://forexexplore.com/forex-brokers/aetos-review/ | MetaTrader 4 | yes | yes | Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY | 1:200 | no | no | FCA UK | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| TradeFW | 3 | https://forexexplore.com/forex-brokers/tradefw-review/ | 0 | 250 | https://forexexplore.com/forex-brokers/tradefw-review/ | yes | yes | Bank wire, Credit/Debit Card. | 1:30 | no | no | Cysec | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 0 | |||||||||
| 1Market | 0 | https://forexexplore.com/forex-brokers/1market-review/ | 250 | 3 | https://forexexplore.com/forex-brokers/1market-review/ | Webtrader, Metatrader 5 | yes | yes | credit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt | 1:400 | no | no | Cysec | no | no | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Trade Nation | 4 | https://forexexplore.com/forex-brokers/tradenation-review/ | 1 | 0.6 | https://forexexplore.com/forex-brokers/tradenation-review/ | in-house web-based platform, Metatrader 4 MT4 | yes | yes | Credit Card, Srill | 1:30; 1:200 | English | yes | yes | FCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamas | yes | 1 | 1 | 0 | 0 | 0 | 0 | ||||||||||
| PlusMarkets | 0 | https://forexexplore.com/forex-brokers/plusmarkets-review/ | 0 | 0.1 | https://forexexplore.com/forex-brokers/plusmarkets-review/ | Metatrader 4, PlusMarkets Trader | yes | yes | cards, wire transfers, and some alternative payment methods, which aren’t specified | 1:30 | no | no | CySec | no | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| HonorFX | 0 | https://forexexplore.com/forex-brokers/honorfx-review/ | 100 | 0.2 | https://forexexplore.com/forex-brokers/honorfx-review/ | Metatrader 5 | no | yes | Credit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money | 1:500 | FSA | yes | 1 | 0 | 1 | 0 | 0 | 1 | |||||||||||||
| Tiger Brokers | 0 | https://forexexplore.com/forex-brokers/tiger-brokers-review/ | 0 | https://forexexplore.com/forex-brokers/tiger-brokers-review/ | Tiger Trade | no | yes | Bank Wire Transfer, FAST, DDA, PayNow | Up to 4x (day trade), Up to 2x (next day) | yes | US Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||||
| MarketBull | 0 | https://forexexplore.com/forex-brokers/marketbull-review/ | 1000 | 1.8 | 100% match the deposit | https://forexexplore.com/forex-brokers/marketbull-review/ | Metatrader 4 | yes | yes | Credit Cards, Neteller, Skrill, Bank Wire Transfer | 1:1000 | jurisdiction of the UK | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CedarFX | 0 | https://forexexplore.com/forex-brokers/cedarfx-review/ | 50 | 3 | https://forexexplore.com/forex-brokers/cedarfx-review/ | MetaTrader 4 | yes | Credit Card, Bank Wire, Bitcoin | 1:500 | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||||||
| GCI Trading | 0 | https://forexexplore.com/forex-brokers/gci-trading-review/ | 500 | 1 | 50% on deposit | https://forexexplore.com/forex-brokers/gci-trading-review/ | MetaTrader 4, ActTrader | yes | yes | Bank Wire Transfer, Credit Card, Neteller, Skrill | 1:400 | IFSC | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||||
| Axi | 0 | https://forexexplore.com/forex-brokers/axitrader-review/ | 200 | 1.2 | https://forexexplore.com/forex-brokers/axitrader-review | Metatrader 4 | yes | yes | Debit and Credit Cards (Visa, Master, Maestro, JCB) Neteller Skrill/Moneybookers Global Collect (only for Australian clients) BPAY (only for Australian Clients) China Union Pay (only for Chinese residents) Bank Transfer Broker to Broker Transfer | 1:400 | no | no | ASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadines | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 |
How to Choose the right Forex Broker in South Africa
South Africa is one of the most active in Forex trading on the African Continent. Because of rather outgoing economic environment in South Africa, there is no trouble to invest in any financial markets with both local and off shore Brokers. Online trading is turning into one of the most popular investment and all you need to do is to find a good broker to trade with.
First thing you want to check is whether your broker is regulated. The local regulatory body is FSB. We strongly suggest to trade only with regulated brokers and avoid the ones without responsibilities! Keep in mind that regulation keeps scammers at bay.
In addition to regulation, you do want to find a broker with easy-to-use, professional trading platform full of tools and gadgets to get you going. One of the best yet is Metatrader 4. It has all you need and more for your forex trading experience.
Keep an eye on spreads conditions and commissions, if any. Read the small print about extra fees and charges, especially when it comes to fixed and variable spreads. Various account types can hide lots of different trading conditions and this is something you need to compare and take under the account.
Customer support is another thing you have to check. You want to work with a broker that offers round the clock support for both general and technical questions. Keep in mind that support might differ when you are not a client yet and when you have already deposited some money, for better or worse!
Do Forex traders pay tax in SA?
Is Forex trading taxable in South Africa? Yes, it is. Any profits you make with Forex trading are taxable, just like your regular income, which means you have to file a Personal Income Tax form. The tax rate can range from 18% to 40% and it depends on the profits you’ve made.
General Regulation & South African Regulation
The FSCA is the market conduct regulator of financial institutions in South Africa, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The Financial Sector Conduct Authority (FSCA) is responsible for market conduct regulation and supervision in SA. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.
Trading Platform & Software
MetaTrader 4 is the most popular trading platform for trading Forex financial instruments among traders worldwide including South Africa. Having an impressive functionality, the platform is suitable for traders of all skill levels. MetaTrader 4 is a flexible trading system that offers advanced tools of technical analysis, Trading Signals, a Market of trading robots, mobile and algorithmic trading and much more. Use all these features for success in your Forex trading!
In order to become a trader and start trading in Forex, you should choose a broker and download MetaTrader 4 for free. The broker provides access to the market, while the trading platform allows you to analyze quotes and perform trades. Before applying to a broker for a live account, you may first want to open a demo account in MetaTrader 4 and trade virtual money to better understand the basic concepts of Forex trading.
Technical analysis tools (various analytical objects and technical indicators) are used to forecast quote movement directions. The efficiency, accuracy and reliability of analytical algorithms and tools may vary due to market conditions. For example, trend indicators are most effective during strong price movements.
Trading operations in Forex are performed using market or pending orders. The orders are trade requests to perform a trade immediately or upon meeting a certain condition. These requests are sent to your South African Broker.
Mobile trading allows you to analyze markets and trade the same way as when working via the desktop version. The only difference is that trading is performed using a smartphone or tablet from anywhere in the world.
Algorithmic trading fully automates the analysis and trade orders, completely freeing traders from the routine work. Traders formalize their trading strategies turning them into trading robots that trade automatically!
By offering so many great opportunities, MetaTrader 4 has become the most popular Forex platform. Download the platform, open a demo account and try it!
Commisions & Spreads
Most brokers with direct access to the market do not charge fees, but work with spreads. Currency pairs come with spreads, which is the difference between the buy and the sell price. For example:
ACTIVE TRADER SPREADS
| SYMBOL | BID | ASK | SPREAD |
|---|---|---|---|
| EUR/USD | 1.10498 | 1.10499 | 0.1 |
| GBP/USD | 1.28161 | 1.28165 | 0.4 |
| GBP/JPY | 140.056 | 140.063 | 0.7 |
| USD/JPY | 109.28 | 109.282 | 0.2 |
| EUR/GBP | 0.86214 | 0.8622 | 0.6 |
| EUR/JPY | 120.753 | 120.756 | 0.3 |
| AUD/JPY | 75.191 | 75.194 | 0.3 |
| USD/CNH | 6.9818 | 6.98201 | 2.1 |
| AUD/USD | 0.68805 | 0.68807 | 0.2 |
| EUR/CHF | 1.09962 | 1.09965 | 0.3 |
Your ultimate goal is to find a broker with competitive spreads on the currency pairs you are interested in trading.
Account Types
Account types generally depend on your capital size and sometimes on the turnover you make.
Micro
In this electronic age you can trade Forex with as little as 50$ on a micro account. Some companies can even allow you to trade with 1$ as they do not have lot size positions, but unit size positions. Well, these are very rare, but 100-200$ initial deposit accounts are offered with most brokers.
Mini
If you have over a thousand USD you can try a mini and trade mini lots and if you prefer bigger trade sizes like 100k (standard lot) you would need 10k or more capital to trade with.
VIP
Of course, you can go further still and get VIP account where huge positions are traded, but you need to always remember that trading is a risky business and you should not risk what you cannot afford to lose.
Customer Service
Another thing to look out for is customer representatives. You are searching for professional, dedicated, multilingual customer service team working 24/5 to provide you with an exceptional level of support via email, phone, online chat, ticket posting and in some cases representative offices nearby.
Who is the richest forex trader in SA?
Jabulani Ngcobo
Jabulani Ngcobo was born in 1985 is currently one of the richest Forex traders in South Africa to date. Jabulani Ngcobo is a self-made millionaire and the author of Cashflow Naked, a biography and a lesson of financial education. Jabulani Ngcobo net worth is estimated at $2.4 billion.
Why should you trade forex now?
Over the past few years, the forex market has been somewhat stilted as volatility decreased and trading volumes declined. Covid-19 has resulted in the demand for currencies such as the US Dollar as investors seek a safe-haven currency as the world experiences a cosmic fall-out from the pandemic in the form of high unemployment and desperate government overborrowing.
As the Covid-19 pandemic continues, the impact on forex trading and financial markets in general will be huge, with emotions overriding rational investment decisions and fast-changing situations dramatically changing how traders analyze market dynamics.
Regular day traders who have had more time on their hands due to the pandemic lockdown and those dabbling part-time in forex trading who find themselves suddenly unemployed will be looking for opportunities to profit from the bear markets and currency fluctuations that this world has not seen for a very long time.
Forex trading is the most sensible option if you’re looking to profit from the erratic state of the world markets and capitalize on opportunities while the world currencies are in flux. To do this, you need to align yourself with the best forex broker in South Africa that offers a premier trading platform, high-quality analytics and extensive knowledge-based support.
Conclusion
ForexExplore.com team has worked hard to create this advanced Top Forex Brokers in South Africa reviews and comparison list. We have completed the list top South African Forex broker’s rating for your convenience an hope that you find it useful and informative. Our hard work with Best 10 Forex Brokers in South Africa on this site ForexExplore.com and we promise to continue our research and informative insights on foreign exchange industry about the Top 10 Forex Brokers in South Africa.
