Finding a broker that supports your preferred base currency could be a challenge, so this list of the 15 Best ZAR Account Forex Brokers 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 significantly 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 the native South African currency.
Rank Broker Regulations Min. deposit Rating Open account MiFID, FSA, ASIC, BVI, FFAJ, FSCA, ADMG, FRSA FCA, FSA, FSCA, DFSA, CySEC, FSC CySEC, FCA, SFSA, FSCA, CBCS, FSA, FSC $10 ASIC, FCA, FSCA $50 $100 $50 FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC $0 FCA, KNF, CySEC, IFSC $200Top 10 Brokers for 2023
Our 3 Best ZAR Account Forex Brokers are:
🏆 Exness
🏆 Global GT
🏆 TradeNation
Exness
Overall Rating Rated #1 of USD 10 FSA, CBCS, FSC, FSC, FSCA, CySEC, FCA 📱 Platforms MT4, MT5 ₿ Crypto Yes 💵 Account Currency USD, EUR, ZAR, CHF, NZD, SGD, JPY, AUD Yes 1:unlimited 🛒 Instruments 100+ Forex, Cryptocurrencies, Energies, Metals, Shares, Stocks, Commodities 🏛️ Visit Broker
4.9/5
Recommended FX Brokers
Min. Deposit
Regulators
Islamic Account
Leverage
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.
Global GT
Overall Rating USD 5 FSCA, SFSA 📱 Platforms MT5 ₿ Crypto Yes 💵 Account Currency BTC, ETH, USDT, ADA, XRP, EUR, USD, ZAR Yes 1:1000 🛒 Instruments Forex, Metals, Indices, Energies, Stocks, Cryptos 🏛️ Visit Broker GlobalGT
4.5/5
Minimum Deposit Regulators Islamic Account Leverage
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.
TradeNation
Overall Rating USD 0 FCA, ASIC, SCB, FSCA 📱 Platforms MT4, TradeNation platform No 💵 Account Currency USD, GDP, EUR, DKK, SEK, NOK, AUD, ZAR No 1:200 🛒 Instruments Forex, Indices, Shares, Commodities, Futures, Bonds, CFDs
3.9/5
Minimum Deposit Regulators Islamic Account Leverage
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.
Markets.com
Overall Rating USD 100 CySEC, ASIC, FSCA 📱 Trading Desk MT4, MarketsX, Marketsi, MT5 ₿ Crypto Yes 📈 Total Pairs 65 Yes Low 🕒 Account Activation Time 24 Hours 🏛️ Visit Broker
3.7/5
Minimum Deposit Regulators Islamic Account Trading Fees
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 and Best Forex Provider in 2017, awarded by the UK Forex Awards, and was named Best Forex Trading Platform in the Middle East in 2020.
easyMarkets
Overall Rating USD 25 CySEC, ASIC, FSA 📱 Platforms MT4, TradingView, easyMarkets app ₿ Crypto Yes 💵 Account Currency EUR, CAD, CZK, JPY, NZD, USD, SGD, CHF, GBP, MXN, AUD, PLN, TRY, CNY, HKD, NOK, SEK, ZAR, BTC Yes 1:400 🛒 Instruments Forex, Shares, Crypto, Metals, Commodities, Indices 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
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.
Swissquote
Overall Rating USD 1000 FINMA, FCA, DFSA, SFC, MFSA, MAS 📱 Platforms Advanced Trader, MT4, MT5 ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, CHF, JPY, AUD, CAD, NZD, PLN, SEK, DKK, NOK, HUF, TRY, ZAR, SGD, MXN, HKD, THB, ILS, AED Yes 1:100 🛒 Instruments Forex, Stocks, Commodities, Bonds, Indices, Crypto 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
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 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.
FXPro
Overall Rating USD 100 FCA, CySEC, FSCA 📱 Platforms FxPro platform, cTrader, MT4, MT5 Yes 💵 Account Currency EUR, USD, GBP, CHF, PLN, AUD, JPY, ZAR Yes 📊 Leverage 1:200 🛒 Instruments Forex, Metals, Indices, Shares, Energies
4.6/5
Minimum Deposit Regulators Islamic Account
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.
QuickTrade
Overall Rating ZAR 0 FSCA 📱 Platforms MT5 ₿ Crypto No 💵 Account Currency ZAR No 1:100 🛒 Instruments Commodities, Forex, Indices, US Equities 🏛️ Visit Broker
2.3/5
Minimum Deposit Regulators Islamic Account Leverage
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.
ThinkMarkets
Overall Rating USD 0 FSCA, FCA, ASIC, BMA 📱 Platforms MT4, MT5, ThinkTrader ₿ Crypto Yes 💵 Account Currency ZAR, AUD, NZD, USD, EUR, GBP, SGD, CAD, CHF Yes 1:400 🛒 Instruments Forex, Bonds, Stocks, Commodities, ETFs, Indices, Crypto 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
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.
HFM (HotForex)
Overall Rating USD 5 FCA, FSA, FSCA, DFSA, CySEC, FSC 📱 Platfoms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, ZAR, USD, NGN Yes 1:1000 🛒 Instruments Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks, ETFs 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
HFM offers 5 account types and is an ECN and STP broker with more than 1,200 instruments and flexible leverage.
HFM accounts have variable spreads and they are compatible with the MetaTrader platforms.
Clients can use account managers and have access to educational resources and 18 unique trading tools.
HFM customer support is available 24 hours during the week and can be reached telephonically, via live chat and through email.
Interactive Brokers
Overall Rating USD 0 USSEC, CFTC, ASIC, FCA 📱 Platforms Trader Workstation, IBKR mobile app, IBKR APIs ₿ Crypto No 💵 Account Currency AUD, CHF, TRY, USD, GBP, DKK, EUR, KRW, MXN, NZD, HKD, CAD, CNH, CZK, HUF, ILS, YEN, NOK, PLN, RUB, SGB, ZAR, SEK No 1:40 🛒 Instruments Forex, CFDs, Stocks, Options, Bonds, Mutual Funds, Commodities, Metals 🏛️ Visit Broker
4.3/5
Minimum Deposit Regulators Islamic Account Leverage
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.
Plus500
Overall Rating USD 100 FCA, CySEC, ASIC, FMA 📱 Platforms Plus500 app ₿ Crypto Yes 💵 Account Currency USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, SGD Yes 📊 Leverage 1:300 🛒 Instruments Forex, Indices, Cryptocurrency, Commodities, Shares, Options, ETFs 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account
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.
GT247
Overall Rating USD 0 FSCA 📱 Platforms MT5 ₿ Crypto No 💵 Account Currency ZAR, USD No 1:80 🛒 Instruments Forex, Commodities, Indices, JSE Equity CFDs 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
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.
SuperForex
Overall Rating USD 1 IFSC 📱 Platforms MT4 ₿ Crypto Yes 💵 Account Currency USD, EUR, GBP, RUB, IDR, MYR, AED, ZAR, NGN, BDT Yes 1:2000 🛒 Instruments Crypto, Gold, Metals, Oil, Stocks, Indices, Forex 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
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!
EasyEquities
Overall Rating USD 0 ASIC 📱 Platforms Easy Equities mobile app ₿ Crypto No 💵 Account Currency ZAR, USD, AUD No 130 🛒 Instruments Shares, ETFs 🏛️ Visit Broker
3.1/5
Minimum Deposit Regulators Islamic Account Leverage
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.
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 African traders from investing at all.
Thankfully, the 15 Best ZAR Account Forex Brokers have found a way to accommodate South African citizens by allowing them to fund their trading accounts with ZAR.
Good luck with your trading!
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Disclaimer
Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.
The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.
FAQ
Can forex trading be profitable in South Africa?
Yes, trading forex can be a profitable endeavour that brings in money for traders. However, to do this successfully, one needs time, commitment, patience, a sound trading strategy, and a trading plan.
How secure is online forex trading?
By using regulated and authorized brokers with high-level end-to-end encryption on their websites, traders can trade forex with confidence. This protects the confidentiality of their information and ensures that all transactions are safe.
Which brokers offer ZAR accounts?
Our 3 Best ZAR Account Forex Brokers are:
- Exness
- Global GT
- TradeNation
