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5 Best Forex Brokers in South Africa

The forex market is a large, liquid, and volatile financial market that has participants from around the world. South Africa is the second-largest economy in Africa and has an active population of forex traders, from beginners right through to institutional traders.

While the process involved with choosing a forex broker is quite tedious, we have indicated some of the best forex brokers in South Africa that offer some of the best, most competitive trading conditions in the industry.


IFX Brokers


IFX Brokers is a proudly South African forex broker that offers forex and CFD instruments that can be traded across several asset classes. IFX Brokers offers its clients a wide range of markets, competitive trading conditions that consist of variable spreads, decent leverage ratios, and commission-free trading.

IFX Brokers is well-regulated with the Financial Sector Conduct Authority (FSCA) in offering a safe, fair, and transparent trading environment for all traders where client funds are kept secure with top-tier banks.


Pros and Cons

Well-regulated MetaTrader 5 is not offered
MetaTrader 4 supported FIX API trading is not supported
Range of useful tools offered Spreads are not the tightest
Commission-free trading  
Wide range of tradable instruments

Features is a multi-asset trading platform and forex broker that offers a wide range of flexible trading solutions to South African traders. is known as one of the best brokers in South Africa that offers a wide range of tradable instruments that can be traded through MetaTrader 4 and MetaTrader 5.


Pros and Cons

Low trading fees Inactivity fees charged
Proprietary trading platform with scanner and trading signals  
24/5 multilingual customer service  
Suited for beginner traders  


Blackstone Futures


Blackstone Futures is a forex and CFD broker based in South Africa with strict regulation through FSCA in offering retail traders in South Africa advanced, flexible trading solutions.

Blackstone Futures offers 32 different forex pairs that can be traded with spreads from as little as 0.6 pips on EUR/USD. In addition, traders can expect a safe, fair, and transparent trading environment and guaranteed safety of funds.


Pros and Cons

South African-based broker with FSCA regulation Limited tradable instruments
Low spreads  
High maximum leverage  
Advanced trading platforms offered  
Educational material and trading tools offered  




HotForex is a large and reputable forex broker that is the trading arm of HF Markets, providing the broker with a long list of regulations and authorisation to offer services in South Africa.

With HotForex, traders can expect a wide range of tradable instruments, low trading fees, powerful trading platforms, educational material, and advanced trading tools and resources.


Pros and Cons

Demo accounts offered Fixed spreads not offered
Choice in account types  
Competitive trading conditions  
Tight spreads offered  


Khwezi Trade


Khwezi Trade is another popular and reputable South African broker that is headquartered in Cape Town. Khwezi Trade caters specifically for both beginner and professional traders who want to add a competitive edge to their trading.


Pros and Cons

South African broker with FSCA regulation High minimum deposit requirement of R2,000
Dedicated customer support in multiple languages Limited tradable instruments offered
Decent leverage ratios offered  
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