20 Best Forex Brokers with ZAR Accounts

20 Best Forex Brokers with ZAR Accounts

Finding a broker that supports your preferred base currency could be a challenge, so this list of the 20 Best Forex Brokers with ZAR Accounts are often employed by South African citizens who don’t want to incur additional fees by funding their trading accounts with other major currencies.

Currency conversions can greatly decrease the worth of your investment due to exchange rates and could discourage many South African citizens from trading.
To accommodate South Africans, several trusted Forex brokers have allowed clients to fund their accounts using ZAR, which is that the native South Africa currency.

 

Global GT

Global-GT

 

Global GT offers 5 flexible account types that are designed according to the needs of different traders. These accounts offer tight spreads and negative balance protection, with 8 supported base currencies and swap-free accounts on each type.

Promotions offered by Global GT include a signup bonus of 60% on the first deposit, as well as a 30% loyalty deposit bonus. 

Global GT is regulated by the SFSA and FSCA.

 

Minimum features of Global GT:

Minimum deposit $5
Maximum leverage 1:1000
Trading instruments Forex, Crypto, Energies, Stocks, Metals
Regulations FSCA, SFSA
Platforms MT5
Swap-free accounts Yes
Demo accounts Yes

 

Blackstone Futures

BlackStone Futures

 

Blackstone Futures offers more than 750 trading instruments and guarantees tight spreads and commission-free trading.

This FSCA-regulated Forex broker provides education content to welcome new traders to the markets and clients benefit from Negative Balance Protection.

Blackstone Futures is a licensed, South African Forex broker and its clients have access to MetaTrader 4 and Cloudtrade platforms.

 

Minimum features of Blackstone Futures: 

Minimum deposit $100
Maximum leverage 1:400
Trading instruments Forex, Crypto, Indices, Metals, Stocks, Commodities
Regulations FSCA
Platforms CloudTrade, MT4
Swap-free accounts No
Demo accounts Yes

 

Markets.com

Markets.com

 

Since 2008, Markets.com has offered global trading solutions in financial markets. They have developed a proprietary multi-asset platform with full account functionality, but they are also compatible with the MetaTrader platforms.

Markets.com is regulated by the FCA (UK), ASIC (Australia), CySEC (Cyprus), FSCA (South Africa) and FSC (BVI) and client funds are held in secure, segregated accounts at top financial institutions.

Markets.com won the Best FX Platform as well as Best Forex Provider in 2017, awarded by the UK Forex Awards, and was named Best Forex Trading Platform in the Middle East in 2020.

 

Minimum features of Markets.com: 

Minimum deposit $100
Maximum leverage 1:300
Trading instruments Shares, Bonds, Crypto, Forex, CFDs, Indices, Commodities, Blends
Regulations CySEC, FCA, ASIC, FSCA, BVI FSC
Platforms MT4, MT5, Marketsx, Marketsi
Swap-free accounts Yes
Demo accounts Yes

 

easyMarkets

easyMarkets

 

easyMarkets was founded in 2001 with the purpose of giving all individuals access to online trading markets.

easyMarkets is regulated by CySEC, ASIC, and FSA and client funds are held in segregated accounts in top-tier banks and financial institutions.

easyMarkets offers an exceptional library of educational content and accommodates beginners and experienced traders respectively.

Clients are given access to a variety of unique trading tools and features, such as dealCancellation, Freeze Rate and easyTrade.

Account types offered by easyMarkets include Standard, Premium and VIP accounts. Each account offers a personal account manager, negative balance protection, and daily analysis emails.

 

Minimum features of easyMarkets: 

Minimum deposit $100
Maximum leverage 1:400
Trading instruments Forex, Crypto, Metals, Stocks, Commodities, Indices
Regulations ASIC, CySEC
Platforms MT4, easyMarkets platform
Swap-free accounts Yes
Demo accounts Yes

 

Exness

Exness

 

Exness has more than 100,000 clients worldwide and was founded in 2008. This broker is regulated by CySEC, FCA, FSCA and FCA.

Exness offers a total of 5 account types that have different features depending on which version of MetaTrader is used. 

Traders can choose from a Standard account and a Professional account, and Exness provides a variety of statistical data, market analyses and trading tools.

Unfortunately, Exness is not a beginner-friendly option for new traders as it does not seem like any educational content is available on the website.

 

Minimum features of Exness:

Minimum deposit $1
Maximum leverage 1:1000
Trading instruments Forex, energies, Crypto, Indices, Metals
Regulations CySEC, FCA, SFSA, FSCA
Platforms MT4, MT5
Swap-free accounts Yes
Demo accounts Yes

 

Blackbull Markets

BlackBull-Markets

 

Blackbull Markets is an ECN and STP broker that was founded in 2014 and is based in Auckland, New Zealand, with international offices around the globe.

Traders are provided with flexible account options, as well as a special account for active and high volume traders.

Blackbull Markets is primarily a MetaTrader broker which facilitates all forms of trading, including Algorithmic trading, and traders have access to VPS servers.

Blackbull Markets also offers referral bonuses, and social traders can use MyFxbook and Zulutrade.

 

Minimum features of Blackbull Markets:

Minimum deposit $200
Maximum leverage 1:500
Trading instruments Forex, Commodities, Cryptocurrencies, Indices, metals, energies
Regulations FSA, FMA
Platforms MT4, MT5
Swap-free accounts Yes
Demo accounts Yes

 

Swissquote

Swissquote

 

Swissquote was founded in 1996 as a licensed multi-asset financial provider that specializes in Forex and crypto trading, credit solutions and robo-trading.

To cater specifically for Forex traders, Swissquote offers 4 flexible account types and a secure crypto wallet.

Swissquote is a Forex and CFD broker that provides more than 300 tradable instruments in global markets.

Swissquote supplies a proprietary trading platform and is compatible with MetaTrader 4 and 5, Advanced Trader and FIX API.

Swissquotes provides a variety of advanced trading tools and features, such as Autochartist, Trading Central, and MetaTrader Master Edition. 

 

Minimum features of Swissquote:

Minimum deposit $1000
Maximum leverage 1:100
Trading instruments Crypto, Forex, ETFs, Stocks, Options, Futures, Bonds
Regulations FINMA, FCA, MFSA, SFC, DFSA
Platforms MT4, MT5, eTrader, Swiss DOTS
Swap-free accounts Yes
Demo accounts Yes

 

FXPro

FxPro

 

FxPro is amongst the leaders in the Forex industry, with nearly 2 million trading accounts opened since its inception in 2006.

FxPro is regulated by CySEC, FCA, FCA and SCB, and its headquarters are based in the UK.

FxPro offers a single account that supports multiple base currencies and which can be used as a swap-free account, a demo account or a micro account.

FxPro provides a platform where more than 260 instruments across 6 asset classes can be traded, and a live account can be activated with only $100.

 

Minimum features of FXPro: 

Minimum deposit $100
Maximum leverage 1:500
Trading instruments Forex, Futures, Shares, Metals, Indices, Energies
Regulations FSCA, FCA, CySEC, SCB
Platforms MT4, MT5, cTrader
Swap-free accounts Yes
Demo accounts Yes

 

QuickTrade

QuickTrade is a MetaTrader 5 Forex and CFD broker that is a registered Financial Services Provider (FSP) based in South Africa.

QuickTrade is beginner-friendly and has another website called Stock Market College that is specifically designed to teach new traders about the basics of trading.

Account information is limited on QuickTrade, but traders who are looking specifically for a South African Forex broker can contact customer support for more information.

Customer support is available 5 days a week and can be reached via live chat. Email and telephonically.

The website seems neglected as it is lacking basic information, but this broker is regulated which gives some level of credibility.

 

Minimum features of QuickTrade: 

Minimum deposit N/A
Maximum leverage 1:100
Trading instruments Forex, Stocks, Metals, Indices
Regulations FSCA
Platforms MT5
Swap-free accounts No
Demo accounts N/A

 

ThinkMarkets

ThinkMarkets

 

ThinkMarkets was founded in 2010 and is regulated by the ASIC, FSCA and FCA. After receiving multiple awards over the years, ThinkMarkets has earned its place amongst the leaders in the Forex industry.

ThinkMarkets offers 2 account types, along with the option to use an Islamic account, and charges no withdrawal or deposit fees.

ThinkMarkets provides a comprehensive library of educational material and accommodates traders who are new to the markets, assisting them along the way with webinars, guides and glossaries.

 

Minimum features of Think Markets: 

Minimum deposit $0
Maximum leverage 1:500
Trading instruments Crypto, Commodities, Forex, Indices, Metals, CFDs
Regulations FSCA, FCA, ASIC
Platforms MT4, MT5, ThinkTrader
Swap-free accounts Yes
Demo accounts Yes

 

Khwezi Trade

 

Khwezi Trade is an FSCA-regulated South Africa Forex broker that is comptaible with MetaTrader 4 and provides the full range of tools and features offered by this platform.

Although educational resources seem limited on the website, Khwezi Trade does provide some instructional and helpful video tutorials and guides to get new traders familiar with the basics.

In 2019, Khewzi Trade was awarded the best Forex broker in South Africa, and partnership options include affiliate programs and lead generators.

Khewzi Trade offers 4 flexible, zero-commission account types that can all be funded using ZAR and all allow hedging, scalping and the use of Expert Advisors.

 

Minimum features of Khewzi Trade: 

Minimum deposit 500 ZAR
Maximum leverage 1:200
Trading instruments Forex, Commodities, Indices
Regulations FSCA
Platforms MT4
Swap-free accounts Yes
Demo accounts Yes

 

Interactive Brokers

Interactive Brokers

 

Interactive Brokers is an award-winning brokerage that promises secure trading with minimal costs and next-generation technology, providing services to 33 countries and supporting 23 currencies in 135 global markets.

This brokerage is ideal for institutions, third-party service providers and traders and investors, who would like to collaborate and use the innovative Investor’s Marketplace offered by Interactive Brokers.

There is also an incredible educational portal for new traders or experienced traders who would like to refine their skills or stay updated with market news and new technologies and strategies.

Interactive Brokers has received several rewards over the years and hosts its platform for 105 forex pairs and A list exchange products globally, offering 7,400 CFDs. It also offers US-traded Bitcoin futures.

 

Minimum features of Interactive Brokers: 

Minimum deposit $0
Maximum leverage 1:40
Trading instruments Forex, CFDs, Stocks, Options, Bonds, Mutual Funds, Commodities, Metals
Regulations USSEC,CFTC, ASIC, FCA
Platforms TWS, IB WebTrader
Swap-free accounts No
Demo accounts Yes

 

Plus500

Plus500

 

Plus500 is a CFD broker that is based in Australia and regulated by CySEC. FSA, FCA and the ASIC.

Plus500 is trusted by more than 400,000 active traders and offers over 2,000 tradable instruments to its clients.

Plus500 operates as a highly-regulated, listed Forex broker with over 10 years of industry experience.

Plus500 offers two unique account types, designed for retail traders and professional traders respectively.

 

Minimum features of Plus500: 

Minimum deposit $100
Maximum leverage 1:30
Trading instruments Forex, Crypto, Indices, Shares, Commodities, Options, ETFs
Regulations FCA, CySEC, ASIC, MAS
Platforms Plus500 proprietary platform
Swap-free accounts Yes
Demo accounts Yes

 

GT247

GT247-com

GT247 is South Africa’s best-rated online stockbroker and was founded over 20 years ago as a juristic representative of Purple Group Limited, which is an authorized Financial Services Provider.

GT247 is regulated by FSCA and uses the MetaTrader 5 platform to provide clients with trading signals, customizable charts, alerts and advanced trading tools.

It appears that GT247 provides two account types based on whether traders want to open a ZAR account or a USD account, and no minimum deposit is required to activate accounts.

GT247 posts new articles on a regular basis, but unfortunately, it would not be the best option for a beginner as there is a lack of educational materials.

There is no live chat or direct email address, but customer support can be reached via telephone or by submitting a ticket through the website.

 

Minimum features of GT247: 

Minimum deposit 0 ZAR/USD
Maximum leverage 1:80
Trading instruments Forex, Indices, Commodities, JSE Equity CFDs
Regulations FSCA, FICA-compliant
Platforms MT5
Swap-free accounts No
Demo accounts Yes

 

SuperForex

 

SuperForex was founded in 2013 is part of SuperFin Corp, with its head offices based in Belize.

SuperForex is an IFSC-regulated Forex broker that is available in more than 150 countries worldwide.

SuperForex offers several bonuses, contests and special offers to clients and is a beginner-friendly broker with a comprehensive library of educational resources provided to new traders.

SuperForex has a total of 7 accounts available, which are split into STP accounts and ECN accounts, as well as a demo account and a swap-free account.

Unlike most other Forex brokers, SUperForex accounts can be funded using more than 15 currencies, which is far more than any other broker allows!

 

Minimum features of SuperForex: 

Minimum deposit $1
Maximum leverage 1:1000
Trading instruments Crypto, Metals, Stocks, Oil, Indices, Forex
Regulations IFSC
Platforms MT4, SuperForex mobile app
Swap-free accounts Yes
Demo accounts Yes

 

EasyEquities

EasyEquities

EasyEquities is a subsidiary of Purple Group Ltd.,  which is listed on the JSE, and is regulated by ASIC and FSCA.

EasyEquities provides video tutorials, podcasts and articles for new traders to learn how to trade, and the trading academy can be accessed through the FAQ section on the website.

EasyEquities offers 3 types of accounts, including a unique account that can be opened on behalf of children, as well as a tax-free savings account.

The product offering at EasyEquities may seem limited, but this broker actually has a unique portfolio that offers bundled products and structured products that have been designed for the customer’s convenience.

EasyEquitiesprovides a help centre to answer all questions clients might have, and clients can submit a ticket or contact customer support telephonically.

 

Minimum features of EasyEquities: 

Minimum deposit $0
Maximum leverage N/A
Trading instruments Shares, ETFs, Crypto, ETNs, Property, Unit trusts,
Regulations FSCA, ASIC
Platforms EasyEquities web, desktop and mobile platforms, Capitec App
Swap-free accounts N/A
Demo accounts Yes

 

XM

XM

 

 

XM is a multi-regulated Forex broker that was founded in 2009 and is trusted by 5 million traders worldwide.

XM is regulated by the ASIC, IFSC, DFSA and CySEC, and has accumulated a total of over 20 rewards for exceptional services and products over the last decade.

XM is available to 196 countries and the live account can be used to use 16 platforms and trade more than 1,000 instruments.

The XM customer support is fully multilingual and is available 24/5, in 30 international languages.

XM provides a comprehensive library of educational content for new traders, as well as a variety of research and analysis tools that can be used to improve trading strategies and performance.

 

Minimum features of XM: 

Minimum deposit $5
Maximum leverage 1:888
Trading instruments Commodities, Forex, Stocks, Crypto, Metals
Regulations ESMA, CySEC, ASIC, FCA, IFSC, DFSA
Platforms MT4, MT5
Swap-free accounts Yes
Demo accounts Yes

 

TradeNation

TradeNation

TradeNation was founded in 2014 and is a fully-regulated, beginner-friendly broker with its own innovative proprietary trading platform.

The TradeNation accounts can be funded using 8 currencies and there is no fee for withdrawals, deposits or inactivity.

TradeNation offers 2 flexible account types that can be used with CoreTrader2, which is the proprietary platform, and MetaTrader 4.

Both of these platforms provide a variety of advanced trading tools, charting functionalities, and research and analysis data.

 

Minimum features of TradeNation: 

Minimum deposit $0
Maximum leverage 1:200
Trading instruments Forex, CFDs, Stocks, Commodities,
Regulations FCA, ASIC, FSCA, SCB
Platforms CoreTrader2, MetaTrader 4
Swap-free accounts Yes
Demo accounts Yes

 

JustForex

 

JustForex is trusted by millions of traders from more than 190 countries and new clients benefit from a $30 welcome bonus for activating their accounts.

JustForex also rewards clients with a 120% deposit bonus and $50 for every successful referral.

JustForex offers a total of 7 account types with guaranteed tight spreads, and these accounts can be used on MetaTrader 4 and 5.

JustForex supports Social trading, offers more than 170 trading instruments and allows hedging, scalping and the use of Expert Advisors.

JustForex is a beginner-friendly Forex broker that provides webinars, educational webinars and several different articles that will help new traders learn the basics of trading.

 

Minimum features of JustForex: 

Minimum deposit $100
Maximum leverage 1:3000
Trading instruments Forex, Commodities, Indices, Shares, Crypto
Regulations FSA
Platforms MT4, MT5
Swap-free accounts Yes
Demo accounts Yes

 

Conclusion

South African citizens face greater challenges when finding a suitable Forex broker because of exchange rates and the lack of brokers that allow the funding of accounts with ZAR.

The lack of compatibility with the native currency of South Africa may lead to incurring additional transaction costs and a low minimum deposit in dollars will be a lot higher in ZAR, which could discourage South Africa traders from investing at all.

Thankfully, the 20 Best Forex Brokers with ZAR Accounts have found a way to accommodate for South African citizens by allowing them to fund their trading accounts with ZAR.