Best South Africa Trading Platforms Regulated by FSCA

Written by Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: November 5, 2025

Our team of expert traders has tested several regulated and trustworthy South African trading platforms and compiled a top list of the best. Each trading platform operating in South Africa received a quality score based on several factors, including its Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service, and more.

South Africa has a long history and is known by many investors for its stable, relatively strong, and well-established banking and financial system. The country has mature infrastructure and is home to the Johannesburg Stock Exchange (JSE), one of the oldest and largest stock exchanges.

Trading is becoming increasingly popular with locals, and its growing acceptance can mainly be ascribed to the authorities’ liberal stance. The country’s legislation is updated regularly to ensure it keeps pace with the latest developments in the trading world; the recent decision to bring crypto assets under the aegis of the national financial regulator proves this.

For brokers to accept clients from South Africa, they must first obtain a licence from the Financial Sector Conduct Authority (FSCA), the country’s market conduct regulator for financial institutions.

Trading can potentially be lucrative, especially if traders find a reliable broker that meets all their requirements. We have conducted extensive research and testing on a number of brokers that cater to South African traders to ensure they offer superior trading conditions, a sufficiently broad range of instruments, and a wide variety of accepted payment methods.

To make it easier for traders from South Africa to compare and select the best broker for their needs, we have created a list of ten brokerages that accept clients from the jurisdiction and offer premium services.

Regulator	Financial Sector Conduct Authority (FSCA)
Maximum Leverage of Forex	1:500
Maximum Leverage of Stocks	1:20
Maximum Leverage of CFDs	1:200

The best South African brokers

If you are interested in trading stocks, Forex, or other financial instruments, your first step will be finding a broker that meets all your requirements as a trader. Brokers authorised to operate in the region are plentiful, so traders are unlikely to face challenges when looking for a top-quality brokerage.

The brokers in our top list are dedicated to providing premium-quality services, whether their customers are beginners or seasoned traders. Additionally, they typically offer a wide variety of markets and asset classes to cater to all preferences.

Our broker selection also considers the costs South African traders might incur. We focus on all fees associated with payments, commissions, spreads and any other trading costs.

We also pay close attention to the trading platforms offered, accepted payment methods, and the quality of customer support.

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Regulators
FSAS (Seychelles, # SD096), VFSC (Vanuatu, # 40256), ASIC (Australia, # 385620)
Platforms
cTrader, DupliTrade, Fusion+ Copy Trading, MetaFX, MetaTrader 4, MetaTrader 5, TradingView
1. Fusion Markets
Min Deposit
$0
Fees
No deposit and cashout fees
Deposit Methods

Commissions
$2.25 per lot commission
Spread
EUR/USD: AVG 0.93 pips, GBP/USD: AVG 1 pips, USDJPY: AVG 1.7 pips
Withdrawal Methods

Leverage EU
1:30
Leverage non-EU
1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC | Retail Account)
Instruments
Commodities CFDs, Crypto CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs
All financial products involve risk and you should ensure you understand the risk involved as certain financial products may not be suitable for everyone. Trading in margin foreign exchange and derivatives carries a high level of risk and you may incur a loss that is far greater than the amount you invested. Past performance of any product described on this website is not a reliable indication of future performance.
Fusion Markets is a broker that strives to make access to the world’s markets easy and fast for all clients, regardless of the jurisdiction in which they reside; even traders from South Africa enjoy a smooth experience.
Fusion Markets is primarily known for dramatically reducing the costs at which its clients trade forex, precious metals, share CFDs, energies, equity indices, and commodities. Clients can access all of these products in the most convenient way, as they are available on any platform traders choose.
The broad range of instruments the broker offers is not the only reason traders may choose it over other local brokerages; clients can start trading with as little capital as they wish. Additionally, they do not incur extra charges when depositing into or withdrawing from their accounts. Copying the trades of other investors is also possible through Fusion+.
To ensure that trading is not overly complex, the broker has chosen not to offer an excessive number of account types. Instead, new members of the Fusion Markets community can select either a Zero Account or a Classic Account. Those who are new to the platform do not need to open a live account right away, as a demo account is also available.
Before registering with Fusion Markets, traders should confirm that the broker is properly regulated and provides a safe trading environment. The broker ensures high levels of protection and security for its customers and operates under licenses from the Financial Services Authority (FSA), the Australian Securities and Investments Commission (ASIC), and the Vanuatu Financial Services Commission (VFSC).
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Regulators
CySEC (Cyprus, # 278/15), DFSA (United Arab Emirates, # F007663), FCA (United Kingdom, # 717270), FSAS (Seychelles, # SD008), FSCA (South Africa, # FSP 49464)
Platforms
MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web
2. Tickmill
Min Deposit
$100
Fees
No deposit and withdrawal fees
Deposit Methods

Commissions
No commission for Classic accounts
Spread
EUR/USD: AVG 1.7 pips, EUR/USD: AVG 0.1 pips, GBP/USD: AVG 1.9 pips, GBP/USD: AVG 0.3 pips, USDJPY: AVG 1.7 pips, USDJPY: AVG 0.1 pips
Withdrawal Methods

Leverage EU
1:500 (CySEC | Pro Account), 1:500 (FCA | Pro Account), 1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account)
Leverage non-EU
1:1000 (FSAS)
Instruments
Bonds CFDs, Commodities CFDs, Crypto CFDs, Forex CFDs, Indices CFDs, Stock CFDs
Risk Warning: Trading Contracts for Difference (CFDs) on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade Contracts for Difference (CFDs), you should carefully consider your trading objectives, level of experience and risk appetite. It is possible for you to sustain losses that exceed your invested capital and therefore you should not deposit money that you cannot afford to lose. Please ensure you fully understand the risks and take appropriate care to manage your risk.
Tickmill is a globally reaching broker that has made a name for itself in more than 200 countries worldwide. This award-winning broker is one of the best choices for traders in South Africa, as it provides access to premium-quality trading services and products while utilizing up-to-the-minute technology and maintaining transparency.
When using the broker’s services, traders can access some of the most popular instruments on the market, including metals, bonds, cryptocurrencies, forex, stocks, stock indices, and oil. Clients are free to employ any strategy they prefer. Tickmill has also ensured that top-tier trading platforms are at traders’ disposal, allowing them to choose between MetaTrader 4 and MetaTrader 5.
The broker promises to offer premium trading conditions to all clients, whether they opt for a Pro, VIP, or Classic account. It also stands out with superior processing speed, boasting an average execution time of just 0.20 seconds.
Tickmill is fully regulated and operates in a wide array of jurisdictions, including South Africa, where it is authorized by the Financial Sector Conduct Authority. The broker has a proven track record and makes every effort to ensure that traders’ experience remains worry-free, even when they want to top up their accounts. Traders can deposit and withdraw funds via digital wallets, cryptocurrencies, debit/credit cards, and various online payment gateways.
If traders encounter any difficulties while using Tickmill’s services, they can contact the multilingual customer support team.
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Regulators
CIRO (Canada), CySEC (Cyprus, # 347/17), FRSA (United Arab Emirates, # 190018), FFAJ (Japan, # 1574), FSCA (South Africa, # 45984), FSRA (Canada, # 190018), ISA (Israel, # 514666577), JFSA (Japan, # 1662), ASIC (Australia, # 406684), BVIFSC (Virgin Islands, British, # SIBA/L/13/1049), CBI (Ireland, # C53877)
Platforms
AvaOptions, DupliTrade, AvaSocial, MetaTrader 4, MetaTrader 5, AvaTadeGO, Proprietary Web, ZuluTrade
3. AvaTrade
Min Deposit
$100
Fees
$50 inactivity fee after three months of non-use
$100 administration fee
Deposit Methods
Commissions
No commission
Spread
EUR/USD: AVG 0.8 pips, GBP/USD: AVG 1.2 pips, USDJPY: AVG 1.3 pips
Withdrawal Methods

Leverage EU
1:30
Leverage non-EU
1:400 (Pro Account), 1:30 (Standard Account)
Instruments
Bonds CFDs, Commodities CFDs, Crypto CFDs, Crypto Options, Energy CFDs, ETF CFDs, Forex CFDs, Forex Options, Index Options, Indices CFDs, Metals CFDs, Share CFDs, Stock CFDs, Stock Options, US Stock Options
Trading CFDs and FX Options entail risk and could result in the loss of your capital.
Operating since 2006, AvaTrade is a globally active broker with a slew of accolades to its name and a presence in numerous countries. The broker welcomes traders from South Africa, as it holds a license issued by the South African Financial Sector Conduct Authority (FSCA No. 45984). To offer increased security, the broker keeps all traders’ funds in segregated bank accounts.
AvaTrade is favored by traders because it constantly seeks to improve and expand its offerings and currently provides access to more than 1,200 instruments, including forex, stocks, commodities, indices, bonds, and cryptocurrencies, among others. Another reason traders might choose the brokerage is its fixed, competitive-spread accounts. It is also noteworthy that ZAR is offered as a base account currency.
The broker aims to give its clients as many ways to trade as possible and, therefore, enables them to trade on their computers and smartphones via MetaTrader 4, MetaTrader 5, and WebTrader. Additionally, the broker offers a range of automated trading platforms such as AvaSocial, DupliTrade, and ZuluTrade.
With over 400,000 satisfied customers and counting, AvaTrade strives for perfection in every aspect of the trading experience. To help its customers sharpen their skills and knowledge, the broker provides a comprehensive education section. AvaTrade’s customer support agents are ready to assist traders in 14 languages via live chat, email, and phone.
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Regulators
CMA (Saudi Arabia, # 135), FCA (United Kingdom, # 777911), FSCA (South Africa, # 50320), FSCM (Mauritius, # C113012295)
Platforms
MetaTrader 4, MetaTrader 5
4. FXTM
Min Deposit
$200
Fees
No deposit and withdrawal fees
Deposit Methods
Commissions
Zero commission for Micro and Advantage Plus accounts
Average of $0.4-$2 based on volume for Advantage accounts
Spread
EUR/USD: AVG 0.4 pips, GBP/USD: AVG 0.7 pips, USDJPY: AVG 0.7 pips
Withdrawal Methods
Leverage EU
1:30 (FCA | Retail Account)
Leverage non-EU
1:400 (CMA), 1:3000 (FSCA)
Instruments
Commodities CFDs, Crypto CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs
Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
FXTM is a globally accessible broker that enables its customers to trade Forex, commodities, indices, metals, and stocks. The broker offers its clients two universally popular trading platforms, MetaTrader 4 and MetaTrader 5, which let traders explore their preferred financial markets on computers and portable devices.
The broker serves an international audience, as its services are available to traders from more than 150 countries, including South Africa. Although the company has been operating for only ten years, FXTM already boasts over 1 million clients and more than 40 industry awards.
If traders decide to start their investment journey with FXTM, they can choose from several account types designed to meet different trading requirements and experience levels. Clients of the brokerage can also hone their skills and practice risk-free trading by opting for a demo account.
If traders prefer to open a live account, they can fund it with ease using several deposit methods, including Visa- and MasterCard-branded credit and debit cards, digital wallets, wire transfers, and various local banking solutions. Payments to and from FXTM are even more hassle-free because ZAR is included among the available base account currencies.
Depending on the account type traders choose, they may benefit from leverage of up to 1:2000. Whether they will be charged a commission also depends on the selected account type.
FXTM has also ensured that help is available when traders need it most, as its customer support department operates 24/5.
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Regulators
FSCA
FSA
Platforms
MetaTrader 4
WebTrader
COPYCAT Trading
Expert Advisors
5. CMTrading
Min Deposit
$100
Fees
No deposit and cashout fees
Deposit Methods
Commissions
No commission
Spread
as low as 1.9 for Gold and Premium accounts Regular for Silver and Bronze accounts
Withdrawal Methods
Leverage EU
1:30
Leverage non-EU
1:200
Instruments
Forex, stocks, indices, commodities, and cryptocurrencies
General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease, and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.
Established in 2012, CMTrading is considered one of the most innovative brokers catering to traders from South Africa. The tradable assets the broker offers are by no means limited, as the range of options includes Forex, stocks, indices, commodities, and cryptocurrencies.
The broker promises to offer the best trading conditions to its clients and, to ensure that they have nothing to complain about, it allows them to choose among four account types: Bronze, Silver, Gold, and Premium. Islamic accounts are also supported, and the best thing about them is that they offer the same privileges and superior trading conditions as the other account types.
The broker gives its clients access to some of the most innovative trading tools available, including trading signals, Trading Central, and daily market reviews. If you decide to start your trading journey with CMTrading, you will be able to execute your trades using the powerful MetaTrader 4 platform, which is further enhanced by features introduced by the broker. You can also use Copycat Trading and Expert Advisors.
The broker accepts multiple currencies – including USD, EUR, GBP, and ZAR – and has ensured that, wherever its clients are in the world, there are enough payment processors available. Making deposits and withdrawals is secure, quick, and easy, and traders can complete their payments through credit/debit cards, bank transfers, digital wallets, and internet banking-based payment solutions.
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Regulators
CySEC (Cyprus, # 371/18), FSAS (Seychelles, # SD130), FSCA (South Africa, # 50926), SCB (Bahamas), ASIC (Australia, # 286354), FSCM (Mauritius, # GB21026264)
Platforms
cTrader, IRESS, MetaTrader 4, MetaTrader 5, TradingView
6. FP Markets
Min Deposit
$50 (AU$100)
Fees
The broker only covers deposit and withdrawal fees for MT4 and MT5
Deposit Methods
Commissions
Commission per Lot USD $3 per side for Raw accounts
Zero commission for Standard accounts
Spread
EUR/USD: AVG 1.2 pips, GBP/USD: AVG 1.4 pips, USDJPY: AVG 1.5 pips
Withdrawal Methods
Leverage EU
1:500 (CySEC | Pro Account), 1:30 (CySEC | Retail Account)
Leverage non-EU
1:30 (ASIC | Retail Account), 1:500 (FSAS | Retail Account)
Instruments
Commodities CFDs, Crypto CFDs, Energy CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs
Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors. Features of our products including fees and charges are outlined in the relevant legal documents available on our website. The legal documents should be considered before entering into transactions with us.
Operating since 2005, FP Markets is a trusted and well-regulated provider of trading services that welcomes clients from South Africa. The broker prides itself on offering tight spreads, lightning-fast execution speeds, and flexible leverage. The broker allows its clients to open an account with as little as $100 and to use platforms such as MetaTrader 4, MetaTrader 5, and the newly added cTrader. FP Markets also enables its clients to access various trading tools such as Autochartist, MAM/PAMM managed accounts, and Traders Toolbox, among others.
The Forex account types traders can choose between are Standard and Raw, and the best thing is that traders from South Africa can try them in demo mode. Depending on the account type they choose, traders will benefit from low or no commissions. Swap-free accounts are also available, regardless of whether traders opt for MT4 or MT5. However, traders who choose the IRESS platform will not be able to open an Islamic account.
The broker is also celebrated for its ultra-low spreads and leveraged trading on 10,000 instruments across global markets. Clients of the brokerage can trade commodities, Forex, futures CFDs, and share CFDs across seven global exchanges, including the New York Stock Exchange (NYSE) and the Australian Stock Exchange (ASX).
Another feature that sets the broker apart is its mobile apps, which allow traders to trade on the go without missing the opportunities the markets might offer.
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Regulators
Cyprus Securities and Exchange Commission
Jordan Securities Commission (JSC)
Financial Conduct Authority (FCA) – registration number 595450
Financial Sector Conduct Authority
Platforms
MetaTrader 4
MetaTrader 5
WebTrader
Admirals mobile apps
7. Admirals
Min Deposit
$/€1 and $/€100, depending on the account type and the used platform
Fees
No fees on deposits
Traders can request one fee-free withdrawal per month
Deposit Methods
Commissions
TradeMT5:
Single Share & ETF CFDs - from 0.02 USD per share
Zero.MT5:
Forex & Metals - from 1.8 to 3.0 USD per 1.0 lots 3
Cash Indices - from 0.05 to 3.0 USD per 1.0 lots 3
Energies - 1 USD per 1.0 lots 3
Invest.MT5
Stocks & ETFs - from 0.02 USD per share
TradeMT4:
Single Share & ETF CFDs - from 0.02 USD per share
ZeroMT5:
Forex & Metals - from 1.8 to 3.0 USD per 1.0 lots 3
Cash Indices - from 0.05 to 3.0 USD per 1.0 lots 3
Energies - 1 USD per 1.0 lots
Spread
From 0.5 Trade.MT5 and Trade.MT4
0.0 for Invest.MT5, Zero.MT5, and Zero.MT4
Withdrawal Methods
Leverage EU
Forex:
Retail Clients: 1:30 - 1:20 2
Professional Clients: 1:500 - 1:10
Indices:
Retail Clients: 1:20 - 1:10 2
Professional Clients: 1:500 - 1:10
Leverage non-EU
1:1000
Instruments
Indices, Forex, commodities, stocks, bonds, ETFs, and cryptocurrencies
Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Admirals is a broker whose presence spans more than 20 years. The broker is mainly known for the attractive trading services it provides and the vast array of tradable instruments its customers can access after they create their accounts. As clients of the brokerage, traders gain access to global markets and can trade indices, forex, shares, stocks, bonds, commodities, and cryptocurrencies.
The broker goes out of its way to empower every trading journey, whether investors already have plenty of experience under their belts or are total novices. To ensure their satisfaction with the services on offer, the broker gives its clients a choice of several robust platforms, including MetaTrader 4, MetaTrader 5, and WebTrader. When the time comes to open an online trading account, investors can opt for Trade.MT5, Invest.MT5, Zero.MT5, Trade.MT4, or Zero.MT4. Professional clients of the brokerage will benefit from leverage of up to 1:500.
If traders want unlimited access to an extensive product offering regardless of time or place, they can make use of Admirals’ dedicated apps. The apps are designed for handheld devices running on iOS and Android, allowing Admirals’ clients to trade all available financial instruments in real time, enjoy a simple and intuitive interface, and deposit funds via payment card or document scan directly within the app. If traders need assistance with the apps or any other aspect of their experience, they can contact the support agents via email, live chat, or phone.
Admirals’ clients are given access to various customer care policies and financial security arrangements. The broker also provides additional funds insurance of up to 100,000 EUR. Traders who want to level up their knowledge can do so effortlessly, as Admirals offers a comprehensive education section.
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Regulators
CFTC (United States, # 0509630), DFSA (United Arab Emirates, # F001780), FCA (United Kingdom, # 944492), FFAJ (Japan), FINMA (Switzerland, # IG Bank S.A.), FMA (New Zealand, # 684191), FSCA (South Africa, # 41393), JFSA (Japan, # 9010401051715), MAS (Singapore, # 1489), ASIC (Australia, # 515106), BaFin (Germany, # 148759), BMA (Bermuda, # 54814)
Platforms
L2 Dealer, MetaTrader 4, Proprietary Web, ProRealTime, TradingView
8. IG
Min Deposit
$50
Fees
2.1% transaction fee charge for Visa and Mastercard
R150 inactivity fee
Deposit Methods
Commissions
Trading shares: commission per side from 0.10% for most markets
Spread
EUR/USD: AVG 1.13 pips, EUR/USD: MIN 0.6 pips, GBP/USD: AVG 2.38 pips, GBP/USD: MIN 0.9 pips, USDJPY: AVG 1.8 pips, USDJPY: MIN 0.7 pips
Withdrawal Methods

Leverage EU
1:222 (BaFin | Pro Account), 1:30 (BaFin | Retail Account), 1:30 (FCA | Retail Account)
Leverage non-EU
1:30 (ASIC | Retail Account), 1:200 (BMA | Retail Account)
Instruments
Bond Futures, Bond Options, Bond Spread Betting, Bonds CFDs, Commodities CFDs, Commodity Futures, Commodity Options, Commodity Spread Betting, Crypto CFDs, Crypto Options, Crypto Spread Betting, Currency Futures, Energy CFDs, Energy Futures, Energy Options, Energy Spread Betting, ETF CFDs, ETF Options, ETF Spread Betting, Forex CFDs, Forex Options, Forex Spread Betting, Index Futures, Index Options, Index Spread Betting, Indices CFDs, Interest Rate Futures, Metal Futures, Metal Options, Metals CFDs, Metals Spread Betting, Share CFDs, Stock CFDs, Stock Options, Stock Spread Betting, US Stock CFDs, US Stock Options, US Stock Spread Betting
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
IG claims to host more traders from South Africa than any other brokerage serving the market, which is not surprising considering that the broker entered the region in 2010. The broker offers accounts tailored for institutional, retail, and corporate clients.
There are many reasons traders might opt for IG. First and foremost, the broker is fully licensed and regulated by the FSCA. In addition to being trusted and regulated, the broker is also favored because it gives its clients seamless access to thousands of financial markets. Inexperienced traders can ease into the process by opening a demo account first.
Over the years, the broker has received numerous awards, and today IG is preferred by traders who want to trade forex, commodities, cryptocurrencies, indices, shares, and more. Besides the range of markets, clients should also pay attention to the platforms available; those who join IG’s community can choose between ProRealTime and MetaTrader 4.
The broker also provides award-winning services on the go, and traders are free to execute their trades on devices running iOS or Android. The apps offer full dealing functionality, full-screen charts, alerts, and options for advanced trading, such as saving the last stake size and stop distance. Regardless of the device traders use, they will be able to access comprehensive educational resources, which can help maximize their trading success.
If traders encounter any difficulties, they can contact the support team, which operates around the clock.
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Regulators
FCA (United Kingdom, # 509956), FSAS (Seychelles, # SD120), FSCA (South Africa, # 45052), SCB (Bahamas, # SIA-F184)
Platforms
cTrader, FxPro Edge, MetaTrader 4, MetaTrader 5
9. FxPro
Min Deposit
$100
Fees
Deposit Methods
Commissions
$3.50 on Forex and metals when traders open and close positions for MT4 Raw Spread accounts
FX & Metals, there is a commission fee of 35USD for every 1 million USD traded upon opening a position, and 35USD upon closing the position on cTrader
No commission on the other instruments
Spread
EUR/USD: AVG 0.5 pips, EUR/USD: AVG 1.5 pips, GBP/USD: AVG 0.68 pips, GBP/USD: AVG 1.87 pips, USDJPY: AVG 0.47 pips, USDJPY: AVG 1.53 pips
Withdrawal Methods
Leverage EU
1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account)
Leverage non-EU
1:10000 (SCB | Retail Account)
Instruments
Commodities CFDs, Crypto CFDs, Energy CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs
Trade Responsibly: CFDs are complex instruments and come with a high risk of losing money due to leverage. Please ensure that you understand how CFDs work before committing any capital.
Since its establishment, the broker has considerably expanded its footprint, and today FxPro caters to traders from 170 countries and counting. With more than 100 UK and international awards, the broker is among the most recognizable providers of trading services in South Africa.
FxPro promises to meet every trader’s needs, giving clients access to over 2,100 assets across more than six classes. The broker began operating 15 years ago and is now preferred by traders in the jurisdiction who are interested in trading cryptocurrencies, forex, indices, metals, energy, futures, and shares. One of the biggest advantages of trading with FxPro is that traders can choose from a wide range of trading platforms and account types. Depending on their level of experience and preferences, traders can set up a Standard, Pro, Raw+, or Elite account.
Fast execution is another point the broker boasts about; trades are completed in less than 13 milliseconds. Additionally, users of the brokerage will benefit from a range of advanced trading tools. The broker also provides several top-grade trading platforms, and depending on their needs, traders can choose cTrader, MetaTrader 4, MetaTrader 5, or the proprietary FxPro Trading Platform.
Deposits and withdrawals at FxPro are processed quickly and without hassle, and clients of the brokerage can use Neteller, PayPal, bank transfers, Mastercard, and Visa. Traders can also handle their payments using cryptocurrencies, and if they choose this option, there is no minimum amount they must add to their balance.
FxPro is undoubtedly a broker that traders can trust, as it has been licensed and regulated by the FSCA since 2015. Additionally, the broker also holds licenses issued by the FCA, CySEC, and SCB.
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Regulators
Financial Sector Conduct Authority (“FSCA”) of South Africa under license number 47490
Financial Services Authority of Seychelles with License No. SD144
Platforms
Pro Trader
MetaTrader 4
WebTrader
DupliTrade
ZuluTrade
10. Moneta Markets
Min Deposit
$50
Fees
No deposit fees
Deposit Methods
Commissions
$3 per lot per side for Prime ECN
No commission on Direct STP accounts
$1 per lot per side for Ultra ECN
Spread
spreads from 0 pips for Prime ECN and Ultra ECN accounts
1.2 for Direct STP
Withdrawal Methods
Leverage EU
1:30
1:100
Leverage non-EU
1:1000
Instruments
Forex, shares, commodities, indices, ETFs, and bonds
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading derivatives is risky. It isn't suitable for everyone; you could lose substantially more than your initial investment. You don't own or have rights to the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't consider your personal objectives, financial circumstances, or needs. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
Moneta Markets is a South Africa-friendly broker committed to offering next-generation trading services to its clients. The broker provides MetaTrader 4 and Pro Trader, as well as a number of trading tools designed to help traders improve their performance.
The brokerage has been designed from top to bottom to give traders of all experience levels access to CFD and Forex markets. Moneta Markets makes it easy for traders to tap into more than 900 sought-after tradable instruments, including bonds, shares, indices, commodities, Forex, and ETFs.
Moneta Markets offers account types to suit every trading style, including Prime ECN, Direct STP, and Ultra ECN accounts. Depending on the option selected, commissions may be up to $3 per lot side, while spreads start from 1.2 pips for Direct STP accounts. Regardless of the account type, traders can benefit from maximum leverage of 1:1000 and are free to use hedging strategies.
The broker has more than ten years of industry experience and knows that the quality of customer support makes a difference. Therefore, clients of Moneta Markets can rely on 24/5 customer support via live chat, email, and phone.
Moneta Markets also strives to meet and exceed client expectations for protection. All client funds are kept in segregated bank accounts, and traders’ accounts are covered by negative balance protection. The broker is fully licensed to operate in South Africa, holding approval from the Financial Sector Conduct Authority.

Trading regulation in South Africa

Trading activities conducted within South Africa are governed by a set of rules outlined in the Financial Sector Regulation Act and the Financial Advisory and Intermediary Services Act (FAIS) of 2002.

In 1990, the Financial Services Board (FSB) was established to regulate the financial markets in the country. In 2018, the regulator’s name changed to the Financial Sector Conduct Authority (FSCA). As the successor to the FSB, the FSCA is South Africa’s market conduct regulator for financial institutions. All institutions that provide financial services or financial products, as defined in the Financial Sector Regulation Act, fall under its purview.

The FSCA’s main role is to foster an efficient, fair and resilient financial system, ensure market stability within the country, and maintain the integrity of financial markets. By introducing a robust regulatory framework, the authority also aims to promote the fair treatment of financial customers.

Financial service providers that cater to the South African market operate under the rules set out in the Financial Advisory and Intermediary Services Act (FAIS) of 2002. The Act was introduced to enhance the integrity of the financial services industry and provide higher levels of consumer protection.

The Act was introduced with the aim of changing the way financial service providers (FSPs) offer their services and treat their customers. Under its provisions, all providers of financial services need to be licensed to operate in South Africa.

The Financial Sector Regulation Act (FSRA) of 2017, on the other hand, sets out the rules under which derivatives, such as Forex, can be offered to South African traders. The main purpose of the Act is to extend the authority’s jurisdiction to ensure that financial products and services previously outside the scope of FSB regulation are also covered. These include the buying and selling of foreign exchange as well as all credit-related services.

Although South Africa’s stance on trading with overseas brokers that are not locally regulated is relatively liberal, traders are advised to stick to platforms that are authorized and regulated because of the greater protection and security they offer.

Forex trading regulation in South Africa

Forex trading is legal in South Africa, and the number of interested traders is increasing rapidly. Brokers may only accommodate South African traders if they are licensed as financial service providers by the Financial Sector Conduct Authority.

Traders should also bear in mind that limits are imposed on the amounts they may invest or spend overseas. South African residents aged over 18 have two types of allowances: the Single Discretionary Allowance and the Foreign Investment Allowance, also known as the Capital Allowance.

The Single Discretionary Allowance (SDA) sets a limit of up to R1 million in a calendar year. South African residents may use this allowance for overseas investments and payments, such as buying shares. No Foreign Tax Clearance Certificate is required.

The Capital Allowance has a limit of up to R10 million per calendar year and may be used once residents have exceeded their SDA. It can be invested in offshore portfolios or assets. If the amount invested overseas exceeds the R10 million threshold, traders must obtain a Foreign Tax Clearance Certificate from SARS.

In addition to trading major and minor currency pairs, many brokers that cater to South Africa are now allowed to trade cryptocurrencies. This was made possible in 2019 when the South African Financial Sector Conduct Authority declared these assets financial products. The FAIS Act describes cryptocurrencies as non-central-bank-issued tradeable digital units of value.

Stocks trading regulation in South Africa

Stocks remain one of the best-known and most popular financial instruments offered by the many brokers authorised by the FSCA. Alternatively, South African traders can trade stocks directly on the Johannesburg Stock Exchange (JSE). The JSE gives buyers and sellers the opportunity to trade on five different markets, including equities (shares/stocks). In addition to the equities market, the JSE allows trading in interest-rate products and currency and equity derivatives.

The taxes investors need to pay when trading stocks are also worth mentioning, especially for those new to trading. Although not all assets attract Capital Gains Tax, and some gains and losses are disregarded, this is not the case with shares held as trading stock. In other words, when traders buy shares with the aim of reselling them at a profit, their revenue gains will be subject to income tax at their marginal rate.

If a gain occurs after traders dispose of shares held as trading stock, it will be taxed at their marginal rate, which may be as low as 18% and up to 40%. The income tax applied is determined by the trader’s taxable income.

When a share is held as a capital asset, meaning it is a long-term dividend-producing investment, any gains or losses realised upon disposal are treated as capital gains and therefore subject to lower taxes.

CFDs trading regulation in South Africa

In order for a broker to offer CFDs to citizens of South Africa, the company must first obtain a licence from the FSCA. Under the current legislative framework, South African traders may also take part in over-the-counter transactions with derivatives. Yet, providers of such products are not allowed to offer them to local traders without authorisation from the regulator. Over-the-counter derivative markets are regulated by the Financial Markets Act of 2016.

Another point traders should be aware of is that, under local regulations, master traders also need to obtain a licence. Many investors assume that copy trading, which is also known as mirror trading, can be offered without authorisation from the regulator, but in early 2023 the FSCA clarified that this is not the case.

The Financial Sector Regulation Act defines the administrative penalties that will be imposed when a broker or other financial services provider breaches a financial sector law or contravenes an enforceable undertaking issued by the regulator.

South Africa Trading Regulation FAQ

1. What is the maximum leverage South Africa-friendly brokers offer to traders from the jurisdiction?

2. Are traders required to pay taxes in South Africa?

3. What is the maximum amount I am allowed to transfer to overseas brokers?

4. How can I make sure that the broker I am using is authorized to operate in South Africa?

5. Can I trade with overseas brokers that are not regulated by the FSCA?

Funding and withdrawing from a South African trading account

Most brokers operating in South Africa provide their customers with an assortment of payment methods to ensure that choosing the right processor is trouble-free; this is understandable, as payments tend to be the most stressful aspect of traders’ experience.

Payment processing times are determined not only by the chosen deposit or withdrawal method but also by the selected account type. Card payments and digital-wallet transfers are normally completed instantly, but with some account types such payments might take up to one business day to clear.

Whether ZAR is offered as a base account currency depends solely on the South African-facing broker selected. Opting for a broker that does not accept ZAR means traders will incur currency conversion fees each time they deposit funds or request a withdrawal.

Typically, brokers do not charge extra fees on deposits and withdrawals. They also often cover additional fees charged by some payment processors, such as bank transfers; however, this usually applies only when the extra fees do not exceed a specific amount, normally around $50, and when the deposited amount is above a preset limit.

Traders should also note that brokers accommodating South African clients do not accept payments from third-party sources. Instead, deposits and withdrawals are only permitted via payment methods held in the trader’s own name.

Depositing into South African trading accounts

Most brokers operating in South Africa allow clients to top up their accounts using credit or debit cards branded by Mastercard or Visa. Deposits through digital wallets are normally lightning-fast, which explains why traders favour them. PayPal, Skrill, and Neteller are the three digital-wallet brands most commonly featured on the deposit and withdrawal pages of brokers in the jurisdiction.

Traders can also use several locally available payment processors, including Ozow and EFTPay. Ozow is used by millions of users and enables lightning-fast bank-to-bank payments without the need for a debit card; it also allows payments at any time via smartphone or tablet. EFTPay is likewise exceptionally easy to use and can be employed not only for purchasing goods and services but also for topping up trading balances.

Deposit minimums and maximums vary between brokers that accept South African clients, and the chosen account type may also influence these limits. Some brokers offer VIP accounts, which provide higher deposit and withdrawal limits and/or faster processing times.

Common deposit methods offered by South African brokers
Type of Method	Usual Limits per Transaction	Processing Timeframes	Processing Fees
Visa	Between $10 and $1,000	Instant	Free of charge
Mastercard	Between $10 and $1,000	Instant	Free of charge
Bank transfer	Between $50 and $1,000	Up to 3 days	Varies
Neteller	Between $10 and $1,000	Instant	Free of charge
Skrill	Between $10 and $1,000	Instant	Free of charge
PayPal	Between $10 and $1,000	Instant	Free of charge
EFTPay	Between $10 and $1,000	Up to several hours	Free of charge
STICPAY	Between $10 and $1,000	Instant	Free of charge
Ozow	Between $10 and $1,000	Instant	Free of charge

Withdrawing from South African trading accounts

Although traders gain instant access to their funds when topping up their accounts, the same speed does not apply to withdrawals. Nonetheless, most brokers go the extra mile to ensure that cashing out is quick and straightforward, whether traders operate on the go or from their computers. Funds can typically be withdrawn using a wide array of banking methods, including digital wallets, debit cards, online-banking-based solutions and wire transfer, among others.

Broker-to-broker transfers may also be an option; if traders wish to use this method they will need to complete a form and send it to the transferring brokerage.

When requesting a withdrawal, traders must use the same banking method they employed to fund their accounts. Withdrawal processing times should also be considered; in most cases brokers take between 24 and 48 hours to approve requests.

While the majority of brokers that accept South African traders do not cap the amount that can be withdrawn per transaction, there may be daily or weekly limits. In some cases, brokers restrict the amount that can be transferred to debit cards, whereas payments to bank accounts are not limited. Some brokers may also waive minimum withdrawal requirements altogether.

Most brokers allow withdrawals while positions are open, but traders should ensure they have sufficient margin in their accounts before requesting a payment.

Common withdrawal methods offered by South African brokers
Type of Method	Usual Limits per Transaction	Processing Timeframes	Processing Fees
Visa	Between $5 and $500	2 to 10 days	Depends on the broker
Mastercard	Between $5 and $500	2 to 10 days	Depends on the broker
Domestic bank wire	$100.00	Up to 1 day	Varies
International bank wire	$100.00	Up to 5 days	Varies
Neteller	Between $5 and $500	Up to 1 business day	Free of charge
Skrill	Between $5 and $500	Up to 1 business day	Free of charge
STICPAY	Between $5 and $500	Wallet – instant; bank wire – up to 2 days	Free of charge

South Africa trading platforms

Brokers that accommodate South African traders come in all shapes and sizes; consequently, traders can expect to encounter different ranges of tradable instruments, banking options and platforms.

Although no two brokers are alike, traders will find that MetaTrader 4 and MetaTrader 5 are offered by the lion’s share of brokers catering to the South African market. These are not the only options; some brokerages also provide platforms such as cTrader, DupliTrade, TradingView and Protrader, among others.

Some South Africa-friendly brokers also offer proprietary platforms; FXPro, for example, provides its own.

MT4 and MT5

MetaTrader 4, commonly known as MT4, is an electronic trading platform offered by the majority of brokers that serve South African traders. The platform is tailor-made for trading Forex and CFDs and accommodates a variety of trading styles.

MT4 is highly user-friendly and allows users to trade on the go via dedicated Android and iOS apps. Trading in any supported market is also possible through any browser and operating system, which adds to the platform’s appeal.

Regardless of the chosen app, traders have access to all execution models. The full set of trading orders, including pending orders, is also available on mobile devices.

The platform not only allows investors to trade but also to analyse and better understand financial markets. Automated trading is available: traders can deploy Expert Advisors to analyse the market and trade on their behalf. MT4 also offers extensive technical-analysis tools, enabling market analysis at any level of complexity: 2,000 free custom indicators, 700 paid indicators and 30 built-in indicators.

The platform enhances forecasting by providing 24 analytical objects, including Gann and Fibonacci tools, shapes and arrows, lines and channels. MT4 also helps traders stay abreast of the latest market events through integrated financial news and alerts.

MT4 gives traders quick, easy access to advanced trading operations in a reliable and secure environment. The platform is fully customisable and offers multi-language support.

MetaTrader 5 is the successor to MT4 and is preferred by traders worldwide for Forex, exchange-traded instruments, futures and CFDs. MT5 is popular because it supports automated trading and offers advanced trading and charting tools. Another benefit is free market data and news alongside superior charting.

cTrader

cTrader Another platform preferred by South African traders is cTrader, renowned for its efficiency and speed. It is a multi-asset platform that can be used for trading CFDs and Forex by traders worldwide.

The platform is mainly favoured for its lightning-fast execution, but its premium charting solutions are equally notable. It supports a variety of trading styles and is suitable for both long-term investors and active day traders.

cTrader is designed to meet the needs of traders of all experience levels, allowing users to choose from a wide array of timeframes.

When viewing price data, traders can choose from several chart types, including HLC, Line, Heikin, Dots and Candlesticks, among others. The ability to work on split screens is another benefit South African traders are sure to appreciate. Last but not least, cTrader offers Level 2 pricing.

Protrader

Protrader is a professional multi-asset platform that gives traders seamless access to major markets, including stocks, Forex, options, bonds and equities. Initially rolled out in 2003, it is now in its third version. It is popular with South African traders, especially professionals, because it offers a broad range of order types and a host of standout features.

Tools available within the platform include Market Depth, Scalper Panel, Matrix, T&S and charts featuring market depth. During the development of Protrader, its designers ensured it would be easily accessible on both desktop and mobile devices; in addition to the all-in-one desktop application, native mobile apps for iOS and Android mean traders never miss an opportunity while on the move.

When accessing the platform on handheld devices, traders retain the full functionality needed to analyse market trends. To support accurate chart-based analysis, the platform offers an array of indicators and drawing tools.

Traders who prefer not to install dedicated apps can instead use Protrader Web, an intuitive, lightweight application that runs smoothly across a wide variety of web browsers.

Keeping track of performance while on the move is straightforward, as the platform provides reports on balance, history, trades, account statements and more.

The platform features an exceptionally user-friendly interface that is easily customisable, allowing traders to tailor it to their own requirements.

ProRealTime

ProRealTime is another trading platform frequently offered by brokers that accommodate South African investors. It gives traders access to numerous markets, including commodities, CFDs, stocks, rates, bonds, options and precious metals.

The platform is favoured for its efficient interface. Depending on their preferences, traders can place orders using one of four book-display modes or directly from the charts.

Traders may choose ProRealTime for its powerful decision-support tools. The platform offers over 100 tools for market scanning, technical analysis, charting, automatic trend detection, tick and volume detection, market alerts and more, allowing traders to improve their performance.

Other benefits include fast order execution, real-time financial news, custom indicator creation, detailed trading reports, a scalping mode, multi-monitor support and securities comparison.

Best South Africa Trading Platforms