Forex Trading in South Africa

Foreign exchange markets are where investors get to trade in foreign currencies. It is otherwise known as forex or currency exchange and is the world’s largest and most liquid market. The daily average trading volume of the forex market is over five trillion dollars. The forex market has a lot of advantages over its financial counterparts. Perhaps the most beneficial element of forex trading is the fact that the market is decentralized. For this reason, investors aren’t restricted to geographical boundaries since all trading activities take place electronically over the internet, 24 hours a day. Market participants in forex include governments, commercial banks, institutional investors, among others.

The forex market offers some of the most lucrative trading opportunities in the world. Investors from all over the world stand a chance to gain stellar returns in the forex market. However, the biggest beneficiaries of the market are investors in developing countries. The reason behind this is the fact that forex trading participants are fewer in such countries. What’s more, everyone can participate in the forex market as long as they use an appropriate broker. For instance, globex360 forex broker in South Africa provides everything an investor needs to succeed in the market. Nevertheless, there are several things investors need to mull over before beginning. For budding forex enthusiasts and investors alike, here are some vital components to consider when getting started.

Financial Regulations in South Africa

In South Africa, all trading activities are presided over by the Finance Service Conduct Authority (FSCA). Forex brokers looking to sell their services to South African residents must be registered and licensed by this financial regulator. Established in 2018, the FSCA replaced the Financial Service Board in charge of regulations since 1990. All investors looking to trade in forex in South Africa must ensure that they use brokers regulated by the FSCA. Without this vital authority, investors would be vulnerable to unscrupulous brokers and scammers.

Best Forex Brokers in South Africa

The South African Rand is the twentieth most traded currency in the world. Moreover, the daily volume of forex trading in South Africa is well over 20 billion dollars. With such a lucrative market, countless brokers have set up camp in South Africa to capitalize on this opportunity. To help you decide which forex broker to go for, here are some of the best ones in South Africa.


Avatrade was founded in 2006 and licensed by the FSCA in 2015. The European forex broker offers Meta Trader 4 and Meta Trader 5 platforms for web and mobile trading. Although it has a high inactivity fee, its trading fees are lower than other brokers. Avatrade offers fixed trading accounts, and investors have the option of choosing from a myriad of financial instruments.


FXPro is a UK based forex broker that has been regulated by the FSCA since 2015. What’s more, the broker is also regulated by several other global authorities, making it one of the safest trading platforms. Moreover, there are countless useful features in FXPro. Perhaps one of the most beneficial features is the negative balance protection. This feature prevents investors from losing too much money in case things go south. It’s also worth mentioning that FXPro doesn’t charge any fees on withdrawals or deposits, allowing traders to maximize their profits.


For traders who want to make the most out of their forex trading, Hotforex might be their best option. The broker has some of the lowest spreads in the country and doesn’t charge any fees for deposits and withdrawals. Hotforex provides a wide range of trading platforms for its customers, with a total of 12. What’s more, traders can also engage in trading other financial instruments such as cryptocurrency and commodities.

Final Thoughts

South Africa is by far the largest forex market in Africa. Residents of the country are becoming more interested in foreign exchange and can actively participate in the market through retail forex brokers. If you’re looking to kick-start your forex career in South Africa, the tips above will point you in the right direction.

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