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Forex Broker Ratings 2026

8 brokers for trading from South Africa. We compare regulation, conditions and payment methods. Every broker featured here is registered with the FSCA.

Need to compare brokers by spreads and commissions on specific instruments, or by other parameters? See the trading conditions comparison.

Risk warning: CFDs are complex instruments with a high risk of rapid loss. 60–85% of retail accounts lose money.

Methodology: Ratings are calculated automatically from broker characteristics: regulation, conditions, payments, reputation and reviews. See full methodology

Rating scale: The scale is strict: a score of 5 matches brokers under the toughest regulators in developed markets (FCA, ASIC and similar). South Africa has a real local regulator, the FSCA, so the strongest brokers here reach into the 4s, yet a flawless 5 stays out of reach because the FSCA sits a tier below those top regulators. Scores here are still lower than the usual 4.8-4.9 seen on other sites, and that reflects the methodology rather than a broker's weakness.

Selection criterion: As of June 26, 2026, the entity serving South African clients for every broker in the list has no public regulatory fines. Actions against sister entities in other jurisdictions are documented in the broker's profile.

ScoreBrokerRatingDepositConditionsRegulators

4.35

AvaTrade

AvaTrade4.35

TP4.8

Deposit

$100

Leverage

1:400

Spread 0.8 p

Comm. —

Spread

0.8 p

Commission

—

ASIC CBI JFSA CySECFSCAFSRA ISA KNF BVI CMA

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4.34

TN

Trade Nation4.34

TV4.7TP4.4

Deposit

$55

Leverage

1:500

Spread 0.5 p

Comm. —

Spread

0.5 p

Commission

—

FCA ASICFSCASCB FSA

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4.23

Exness

Exness4.23

TP4.7

Deposit

$10

Leverage

1:Unlimited

Spread 0.6 p

Comm. $5.00/lot

Spread

0.6 p

Commission

$5.00/lot

FCA CySECFSCACBCS CMA FSA

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4.03

XM4.03

—

Deposit

$5

Leverage

1:1000

Spread 0.8 p

Comm. —

Spread

0.8 p

Commission

—

ASIC CySEC DFSAFSCAFSA FSC IFSC

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4.03

T

Tickmill4.03

TV4.4

Deposit

$100

Leverage

1:1000

Spread 1.6 p

Comm. $6.00/lot

Spread

1.6 p

Commission

$6.00/lot

FCA CySEC DFSAFSCAFSA

3.67

P

Plus5003.67

TP4.2

Deposit

$100

Leverage

1:30

Spread 0.9 p

Comm. —

Spread

0.9 p

Commission

—

FCA ASIC MAS CIRO JFSA CySECFSCADFSA FMA EFSA ISA SCA FSA SCB

80% of retail CFD accounts lose money.

80% of retail CFD accounts lose money.

2.90

IB

iFX Brokers2.90

—

Deposit

$10

Leverage

1:500

Spread 1 p

Comm. $6.00/lot

Spread

1 p

Commission

$6.00/lot

2.83

Libertex

Libertex2.83

TP3.8

Deposit

$100

Leverage

1:3000

Spread —

Comm. $8.00/lot

Spread

—

Commission

$8.00/lot

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83% of retail CFD accounts lose money.

ADAffiliate link

83% of retail CFD accounts lose money.

Risk warning: CFDs are complex instruments with a high risk of rapid loss. 60–85% of retail accounts lose money.

Methodology: Ratings are calculated automatically from broker characteristics: regulation, conditions, payments, reputation and reviews. See full methodology

Rating scale: The scale is strict: a score of 5 matches brokers under the toughest regulators in developed markets (FCA, ASIC and similar). South Africa has a real local regulator, the FSCA, so the strongest brokers here reach into the 4s, yet a flawless 5 stays out of reach because the FSCA sits a tier below those top regulators. Scores here are still lower than the usual 4.8-4.9 seen on other sites, and that reflects the methodology rather than a broker's weakness.

Selection criterion: As of June 26, 2026, the entity serving South African clients for every broker in the list has no public regulatory fines. Actions against sister entities in other jurisdictions are documented in the broker's profile.