This is important since some brokers charge excessively and exorbitantly. The warning is hinged on the idea that in the event of misappropriation of funds, it is difficult or impossible to https://www.easyequities.co.za/ bring the broker to book. Exness is a forex broker that offers Forex & CFD trading to South African traders and is regulated with the FSCA. Exness is an approved ODP in South Africa (they are one of the few approved brokers).
Top 15 Brokers of 2025 compared
- This way, you can easily experience how a real trade works without risking your precious money.
- George Van Der Riet is a prominent South African Forex trader and mentor known for his expertise and successful trading career.
- Exness is a forex broker that offers Forex & CFD trading to South African traders and is regulated with the FSCA.
- They have CFDs on 12 metals, 3 energies, shares, 28 cryptos & 18 major global indices.
At a https://www.psg.co.za/ minimum, a regulated broker is accountable and must demonstrate a commitment to compliance. Check out a gallery of screenshots from IG’s trading platforms, taken by our research team during our product testing. Founded initially in 1990 as the Financial Services Board (FSB), the South African financial markets regulator was rebranded as the Financial Sector Conduct Authority (FSCA) in 2018. South Africa’s regulatory apparatus is known as a twin-peak regulatory system. The other “peak” of this twin-peak system is the South African Reserve Bank (SARB). The SARB is responsible for the Prudential Authority (PA) which regulates financial conglomerates and cooperatives, insurance companies, and banks.
Better experience for South African traders
Their deposits are mostly instant, but the withdrawals to bank are slower. You will fund the exact time to withdrawal on the broker’s funding/withdrawal pages. For some methods like Skrill, Cryptos, the withdrawals are also processed within 5-10 minutes. Even when checking the fees for ECN type account at any forex broker, calculate the overall cost that you will pay to trade that currency pair. The compare if the fees is lower if you only traded at spread only broker (over commission + spreads), then decide if it makes sense for you in terms of trading charges. Forex brokers charge fees through their spreads, commissions on trades (in some cases) & rollover (for overnight open is sasol shares a good buy positions).
Trade Nation Features
When you place a ‘market order’, the broker finds the fill for you by send it to their liquidity providers or directly acting as the counterparty. The brokers have access to liquidity providers, or a market maker may act as the counterparty themselves to your trades. Some regulated https://personal.nedbank.co.za/ Forex brokers in South Africa do have the ZAR as their base currency.
How to Start Forex Trading in South Africa
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.
Pros and Cons of IC Markets
The low minimum deposit of $50 lowers the barrier to entry, allowing traders to start small while still accessing all the advanced features this broker has to offer. This makes it an ideal choice for beginners or those who prefer to start with a conservative capital outlay. IronFX provides traders with access to the MetaTrader 4 platform which offers a wide range of technical analysis indicators and timeframes. Additionally, IronFX’s MT4 includes MultiTerminal allowing traders to manage multiple accounts from a single terminal. To aid in making informed trading decisions, IronFX integrates Trading Central where traders can benefit from numerous analysis tools and resources for conducting thorough research. We have also created this list of FSCA regulated forex brokers for South African traders.
