Best brokers by country
Best Forex Brokers in South Africa 2026
Brokers ranked for South Africans: FSCA licence first, then ZAR accounts, EFT funding and our calculated score.
| # | Broker | Local licence | Local currency | Local payments | Min deposit | Radar score | |
|---|---|---|---|---|---|---|---|
| 1 |  HFM |
✓ FSP 46632 | ZAR | SA bank transfer | $0 Cent/Premium/Zero (≈$5 by payment method) | 9.1/10 | Review |
| 2 |  Exness |
✓ FSP 51024 | ZAR | Local bank transfer (KE, NG, ZA) | $10 Standard | 8.9/10 | Review |
| 3 | FXTM | ✓ FSP 50320 | No | None | $10 Micro | 7.2/10 | Review |
| 4 |  XM |
✓ FSP 49976 | ZAR | Instant EFT via Ozow (SA), Capitec & SA bank deposits | $5 | 7.0/10 | Review |
| 5 | AvaTrade | ✓ FSP 45984 | ZAR | None | $100 | 7.0/10 | Review |
| 6 | FXCM | ✓ FSP 46534 | No | None | $50 | 5.4/10 | Review |
| 7 | IC Markets | No | No | None | $0 Standard/Raw | 6.4/10 | Review |
| 8 | FBS | No | No | FNB (South Africa) | $5 (Standard needs $15) | 5.8/10 | Review |
| 9 | No | No | None | From $5 (method-dependent) | 5.4/10 | Review |
Ranking: brokers with a licence in South Africa first, then by FX Radar score. How we score.
South Africa forex FAQ
Is forex trading legal in South Africa?
Yes. Forex trading is legal, and brokers that offer CFDs to South Africans must be authorised by the Financial Sector Conduct Authority (FSCA), usually as an over-the-counter derivatives provider (ODP) or through an authorised financial services provider.
How do I check if a broker is FSCA regulated?
Search the broker's entity name or FSP number on the FSCA's online FSP search. The name and number must match exactly. Every broker review on FX Radar links straight to the register.
Which brokers offer ZAR accounts?
Several brokers on our radar let you hold a ZAR account, so you avoid conversion fees on deposits. See the 'Local currency' column in the table above.
Do I pay tax on forex profits in South Africa?
Trading profits are generally taxable by SARS. How they're taxed depends on your circumstances, so speak to a registered tax practitioner.
Not sure which one fits you?
Compare every broker side by side, or check the latest scam warnings first.