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7 Best Forex Brokers in South Africa

7 Best Forex Brokers in South Africa CM TRADING, based in Johannesburg, South Africa, operates in a regulated financial environment and provides MetaTrader…

7 Best Forex Brokers in South Africa

Direct link: 7 Best Forex Brokers in South Africa

CM Trading

CM TRADING, based in Johannesburg, South Africa, operates in a regulated financial environment and provides MetaTrader 4, Sirix WebTrader and the CopyKat copy-trading system.

The company offers advanced trading solutions to African and international clients to trade Forex, Index and Commodities, including Cryptocurrencies. A maximum leverage of 200:1 can be used.

CM TRADING is often seen as the largest in Africa and offers competitive spreads and is a good choice for new traders due to their educational material. 

 

Avatrade

AvaTrade was founded in 2006 and has its headquarters in Ireland. It is regulated in several countries, by MiFID, FSA, ASIC, FFAJ, FSCA, ADGM and FRSA.

Avatrade offers a limited choice of account types, divided in types for residents of the European Union and for persons outside the European Union. 

Avatrade provides the MetaTrader 4, MetaTrader 5, a proprietary and Web-based platform, for trading Forex, CFDs, Commodities, Metals, Oil, Gold and Indices at a maximum leverage of 1:400.
 

You might like: See the best forex brokers in South Africa, compared side by side for 2021.
 

Exness

Exness was founded in 2008 and offers MT4 and MT5 and a WebTerminal as trading platforms, with more than 130 currency pairs, metals, cryptocurrencies, energies and Indices as trading instruments.

The broker is registered and authorised in Seychelles by the Financial Services Authority (FSA), in Cyprus by the Cyprus Securities and Exchange Commission (CySEC) and Exness (UK) is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

 

XM.com 

XM.com is an online broker founded in 2009 with its head office in Cyprus and regulated under the IFSC International Financial Services Commission of Belize, Cyprus Securities and Exchange Commission and the Australian Securities and Investments Commission (ASIC).

XM.com offers secure payment methods and good customer service. Deposits can be made in any currency and are automatically converted into the selected base currency.

XM.com has accumulated several awards during its years of service to traders and offers two families of trading platforms: The MT4 family of platforms and the MT5 family of platforms, which also includes the XM WebTrader.

Clients can trade more than 1 000 instruments.

 

JustForex

JustForex is based in Saint Vincent and Grenadines. It was founded in 2012 and is registered by the Financial Services Authority to offer trading on the ?etaTrader 4 platform. 

JustForex provides several accounts with different currencies and leverages, the website provides analytical materials free of charge and lots of financial instruments, tight spreads, no limits on trading strategies, popular payment methods, with the majority of them not incurring any fees. 

JustForex offers more than 140 instruments but clients can only access a certain number depending on their chosen account.

 

Tickmill

Tickmill is regulated by the Seychelles Financial Services Authority (FSA) as well as the Financial Conduct Authority (FCA) in the UK.

Tickmill offers a demo account and three live accounts. Trading conditions improve with every account type, as well as with the initial deposit required. Tickmill provides MetaTrader 4 and its own proprietary WebTrader and traders have access to forex currency pairs, stock indices and oil, precious metals, and bonds as trading instruments. 

 

Hotforex

HOTFOREX is an award-winning Cypriot forex broker founded in 2010 and has its headquarters in Larnaca. The brokerage has offices in Dubai, South Africa and offshore St Vincent and the Grenadines and is authorised by the CySEC, DFSA, FCA, FSA and FSCA. 

HotForex offers trade with more than 150 trading products via the MT4 and MT5 platforms and the mobile HotForex Mobile Application, on a choice of several account types.

HotForex’s pricing is of the lowest in the industry, with negative balance protection for traders worldwide.

7 Best Forex Brokers in South Africa

JustMarkets Broker Details

Headquarters
Seychelles: office 10, floor 2, Vairam Building, Providence Industrial Estate, Providence, Mahe, Seychelles Cyprus: office 102, 13/15 Grigori Afxentiou, 4003, Limassol, Cyprus
Founded
2012
Country
Seychelles
Email
support@justmarkets.com
Trading platforms
MT4 for Desktop, MT4 Web Terminal, MT4 Android, MT4 iPhone Trader, MT4 iPad Trader MT4 Multi Terminal, MT5 for Desktop, MT5 Web Terminal, MT5 Android, MT5 iPhone Trader, MT5 iPad Trader, Platform for Android, Platform for iOS
Funding methods
Credit Card, Debit Card, Western Union, Perfect Money, Neteller, Skrill, FasaPay, Internal transfer, Local Deposits, Bitcoin, TrustPay, Boleto, Multiple local methods, Sticpay, PayTrust, PayRetailers, Payment Asia, Crypto, Absa , Help2pay, Pix
Max. leverage
1:3000*
Min. deposit
1
Base currencies
USD EUR GBP JPY MYR IDR THB VND KWD CNY ZAR
Min. spreads
0.2 pips
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    • Min dep.$1
    • Leverage1:3000
    • TypeSTP/ECN/NDD
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Forex Bonus Guide: Types, Rules and How to Pick the Right Offer

A forex bonus is extra trading money or a reward that a broker gives you for opening an account, depositing, trading or joining a promotion. Used well, it lets you test a broker and trade with a bigger cushion. Used carelessly, it ties up your profit behind rules you did not read.

What is a forex bonus?

A forex bonus is an incentive a broker adds to your trading account. Most bonuses arrive as trading credit: it increases your balance or margin so you can open trades, but it is not cash you can withdraw straight away. You turn it into real money by trading a set volume or meeting other conditions.

A smaller group of offers pays cash rewards, such as rebates or contest prizes, which you can usually withdraw once they land in your account. Brokers use bonuses to win new clients and keep active traders, so the terms always favour activity: the more you trade, the more of the bonus or its profit you unlock.

The main types of forex bonus

How forex bonus terms work

Every forex bonus comes with rules. These six decide whether an offer is worth it.

  • Trading volume

    You must trade a required number of lots before the bonus or its profit can be withdrawn.

  • Withdrawal limits

    No deposit bonuses often cap how much profit you can take out.

  • Expiry date

    Unused credit or unmet volume is removed after a set period.

  • Early withdrawal

    Taking money out before you finish the conditions usually cancels the bonus.

  • Banned strategies

    Some brokers exclude scalping, hedging across accounts or arbitrage while a bonus is active.

  • Eligibility

    Offers can be limited by country, account type or one claim per person.

How to choose the best forex bonus

Work through these five checks before you click claim.

  1. Check the broker first

    Read the broker review and regulation before the bonus. A large bonus from a weak broker is not a good deal.

  2. Compare the volume to your style

    If you trade a few lots a month, pick an offer with a low lot requirement.

  3. Look at the full cost

    Wide spreads or commissions can cost more than the bonus is worth.

  4. Read the withdrawal rules

    Know exactly what you can take out, and when.

  5. Start small

    A no deposit bonus is the cheapest way to test execution and support before funding an account.

Common forex bonus mistakes

  • Trading oversized lots to hit the volume target fast, then losing the whole balance.
  • Withdrawing early and losing both the bonus and the profit linked to it.
  • Opening extra accounts to claim the same offer twice, which leads to cancellation.
  • Ignoring the expiry date until the credit disappears.
  • Choosing a broker only because its bonus is the biggest.

Is a forex bonus worth it?

Yes, when the terms match how you trade. A no deposit bonus is worth claiming for almost any new trader, because it costs nothing and shows how a broker really performs. A deposit bonus makes sense once you already plan to fund an account and can meet the volume without forcing trades. Cashback suits anyone who trades often, since it lowers costs on every lot.

Treat every forex bonus as a tool, not free money. Trade with sensible lot sizes, use a stop loss, and read the terms before you claim.

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