The Financial Sector Conduct Authority, the FSCA, licenses brokers in South Africa. A broker that takes the other side of your CFD trade needs an ODP licence under the Financial Markets Act rules of 9 February 2018. It also needs a FAIS licence that covers derivatives. Look the firm up on the FSCA FSP search before you deposit. Many global brands serve South Africans through a local company, and that is the licence that counts.
The FSCA fines firms that trade without the right licence. JP Markets paid R100,000 in May 2023. Globex360 paid R50,000 in February 2024. Banxso was fined R2 billion on 9 December 2025. The regulator put out 140 public warnings in the year to 31 March 2026.
There is no legal cap on leverage in South Africa. Brokers set their own limits, and some offer 500:1 or more. There is no fund that pays you back if a broker fails. Complaints go to the FAIS Ombud.
Exchange control matters if you fund a broker abroad. You may send R2 million a year abroad under the single discretionary allowance, per SARB Circular 6 of 2026, dated 8 April 2026. The foreign investment allowance is R10 million with SARS approval. Foreign card payments are capped at R100,000 per payment. Most tax practitioners say SARS treats frequent forex and CFD profits as income, taxed at rates up to 45%, though there is no ruling. Local brokers take EFT, Ozow, Capitec Pay and PayShap, as well as cards.
Looking for an MT5 broker in South Africa? Every broker on our MT5 brokers list offers MetaTrader 5, and the broker finder lets you filter South African brokers by platform.
Sources: FSCA FSP search. Financial Markets Act regulations, GN R98 of 9 February 2018. FSCA notices on JP Markets, Globex360 and Banxso. SARB Exchange Control Circular 6 of 2026. Checked 25 September 2026.
Expert-tested, regulated platforms you can trust
Updated · Ranking rebuilt from the latest broker ratings
Choosing a forex broker in South Africa can feel tough. You want clear pricing, sound regulation, solid platforms, and local payments that work. We research the market and explain how each platform handles costs, orders, tools, and support so you can compare with confidence. Use the list below and the comparison tool to narrow your options based on what you value most, like platform features, account types, and service quality. We don’t provide advice, and we don’t promote one name over another; we simply make your choices clear. Trading CFDs involves risk. All information on BrokerCatalogue is for general informational purposes and should not be considered financial, legal, or investment advice.
| # | Broker | Rating | Regulation | Founded | Platforms |
|---|---|---|---|---|---|
| 1 | FOREX.com | 10/10 | ASIC, CFTC, FCA | 2001 | MT4, MT5, Proprietary |
| 2 | Interactive Brokers | 10/10 | ASIC, CBI, CFTC | 1977 | Proprietary |
| 3 | Plus500 | 10/10 | ASIC, CFTC, CySEC | 2008 | Proprietary |
| 4 | Swissquote | 10/10 | CSSF, DFSA, FCA | 1996 | MT4, MT5, Proprietary |
| 5 | FP Markets | 9/10 | ASIC, CMA, CySEC | 2005 | cTrader, MT4, MT5 |
| 6 | JustMarkets | 9/10 | FSA Seychelles, FSC Mauritius, SVGFSA | 2012 | MT4, MT5 |
| 7 | TradeStation | 9/10 | CFTC, FCA, NFA | 1982 | Proprietary |
| 8 | HYCM | 8.7/10 | CIMA, CySEC, DFSA | 1977 | MT4, MT5 |
| 9 | Tickmill | 8.7/10 | CySEC, FCA, FSCA | 2014 | MT4, MT5 |
| 10 | Dukascopy Bank | 8.6/10 | FINMA, JFSA, Latvijas Banka | 2004 | Proprietary |
Compare brokers side-by-side across ratings, regulation, fees and platforms
The brokers on this page are chosen and ranked using BrokerCatalogue’s independent review framework. We look at regulation, safety of client funds, trading costs, platforms and tools, execution, and overall fit for this specific use case or region.
Some brokers may be our partners, but no broker can pay to change its score or ranking. Sponsorship can affect visibility (for example, “featured” labels), not how we rate risk or quality.
This page is for information only and is not financial or investment advice. Always do your own research.
See our Affiliate & Advertising Disclosure, Methodology and Risk Disclosure for full details.
Use our Broker Finder Tool to get a personalized recommendation.
