Top 2025 Best Brokers for Trading in South Africa

A trading broker is a financial intermediary that allows you to place orders on the markets and trade various assets such as CFDs, Forex, cryptocurrencies, or commodities, as an individual in South Africa.

But what is trading and how does it work? How to choose the right broker to practice online trading in South Africa?

Discover the best-rated brokers for this year, those who stand out for their quality of service, reliability, and ability to adapt to different market trends. On this page, we have compared brokers with user-friendly platforms, tight spreads, access to MetaTrader 4 or 5, or those offering a unique social experience with copy trading, specifically for you.

What is a trading broker? Definition of trading

In English, the term "trading" refers to the buying and selling operations that are carried out in the financial markets.

Individuals or professionals who carry out these operations are called "traders."

Trading can be done by professional traders who speculate from trading floors or on behalf of a financial or stock market institution, but also by individual and independent traders who use online trading platforms for this purpose.

Good to know

Trading differs from traditional investment in that it aims for shorter-term gains and uses specific tools such as leverage, which increases market exposure.

Trading Broker: Definition and Role

A broker, is a financial intermediary that allows investors to buy and sell assets in the financial markets. These assets can be diverse: stocks, currencies, commodities, indices, and more. The main role of a broker is to facilitate access to markets for individual and institutional traders, by providing the platform, tools and services necessary to carry out transactions.

Brokers play an essential role in the trading ecosystem. They provide trading platforms that allow you to view real-time prices, place orders, and analyse markets using technical indicators. In addition, they serve as a link between investors and stock exchanges, transmitting traders' orders to the markets, often in near real-time.

In addition to these basic functions, brokers may offer additional services, such as investment advice, market analysis, or training for beginners. They also play an essential role in ensuring the security of transactions and offering leverage that allows traders to increase the value of their positions, although this can increase the risks.

What are the best trading brokers in South Africa in 2025?

Choosing the best broker depends on your trading strategy and the assets that interest you. Whether you are interested in Forex, copy trading, cryptocurrencies, or you prefer to use a specific platform like MetaTrader, some brokers stand out for the quality of their services. Here is a selection of the best brokers in South Africa in 2025, according to the types of trading practiced.

Best broker for Forex trading

The foreign exchange (Forex) market attracts many traders due to its high liquidity and extended hours. To get the most out of Forex trading, several criteria must be considered before choosing a Forex broker :

• Competitive spreads on major currency pairs (like EUR/USD) help reduce transaction costs, especially for short-term strategies.
• Fast order execution is essential in such a volatile market to limit slippage and guarantee precise entry and exit points.
• High leverage, although risky, can be a strategic lever for experienced traders looking to maximize their exposure with limited capital.
• Reliable regulation (FSCA, FCA, ASIC…) guarantees the protection of funds and compliance with industry best practices.
• Recognized platforms such as MetaTrader 4 or 5 (MT4/MT5), or cTrader, offer powerful technical analysis tools and an interface adapted to all trader profiles.

Certain Forex brokers combine these strengths to offer an optimal experience for both beginners and more advanced traders.

Best Broker for Copy Trading

Copy trading is an ideal solution for investors who want to benefit from the experience of professional traders without actively managing their portfolio. It allows you to automatically replicate the strategies of more experienced traders, while maintaining total control over the amounts invested.

Here are the main criteria to consider when choosing a broker suitable for copy trading:

• Integrated copy trading platforms: Some brokers offer their own social platforms, while others rely on recognized external solutions like ZuluTrade or Myfxbook.
• Fee structure: Fees can vary between simple spreads, commissions on profits made, or copy fees charged for each copied transaction.
• Variety of assets offered: A versatile broker allows you to copy strategies on different markets such as Forex, stocks, cryptocurrencies or indices.
• Regulation: As with any financial service, it is essential to ensure that the broker is properly regulated by a recognised authority (such as the FSCA).

Best Broker for Crypto Trading

Cryptocurrency trading is increasingly attracting investors, drawn to price volatility and opportunities for rapid gains. To choose the right crypto broker, several criteria must be taken into account:

• Number of cryptos available: A varied offering allows you to diversify your portfolio beyond the classics Bitcoin or Ethereum, with altcoins with high potential.
• Competitive trading fees: Brokers generally apply spreads or commissions. Comparing fees is essential to optimize profitability.
• Trading platform: An intuitive, fluid interface with technical analysis tools is a real asset, especially for active traders.
• Regulation and security: Even in the crypto universe, it is preferable to go through a regulated intermediary, which guarantees the protection of funds and compliance with standards. South African regulations apply.

Best Trading Broker with MT4 or MT5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are essential platforms in the world of online trading. Known for their stability, compatibility with Expert Advisors (EAs) and advanced technical analysis tools, they are used by both beginners and experienced traders.

To get the most out of these platforms, it is recommended to choose a broker that:

• Offers MT4 and/or MT5 without restriction, with all functionalities available (customizable indicators, automated trading, advanced order management, etc.);
• Offers competitive spreads, especially on major markets such as Forex, indices or commodities;
• Has leverage adapted to the user's profile (with options up to 1:500 in some cases);
• Is regulated by a recognised authority, guaranteeing the security of funds and the reliability of the platform.

How to find the best broker for trading?

Choosing the best broker for trading is important if you want to succeed in your investments. A good broker will allow you to maximise your chances of gains while minimising risks, thanks to powerful tools, competitive fees, and quality customer support. Here are the main criteria to consider to find the broker that best suits your needs and your investor profile.

• Regulation and Security: The first criterion to check is the broker's regulation. The broker must be regulated by a recognised financial authority, such as the Financial Sector Conduct Authority (FSCA) in South Africa. Solid regulation ensures that the broker adheres to strict standards of transparency, fund security, and fair treatment of clients. The security of your funds and personal data should always be a priority.
• Fees and commissions: Fees represent a significant part of your trading costs. They include transaction commissions, spreads (the difference between the buy and sell price), and possibly account management fees. Opt for a broker whose fees are clear and competitive, in order to minimise the impact of these costs on your potential earnings. Watch out for brokers who offer very tight spreads but impose high commissions, and vice versa.
• The trading platform: The quality of the trading platform is another fundamental element. A good platform must be intuitive, reliable and offer quick access to market information. It should offer technical analysis tools (indicators, advanced charts), an ergonomic interface, and the ability to use advanced orders such as stop or limit orders. Some brokers offer popular platforms like MetaTrader 4 or 5, while others have developed their own tools.
• Available assets: Depending on your investment strategy, you will want to choose a broker that offers a wide range of assets: stocks, Forex, indices, commodities, cryptocurrencies, etc. Check if the assets you are interested in are available, and if the broker offers advantageous trading conditions on these assets (leverage, spreads, etc.). The diversity of financial products allows you to vary strategies and spread risks.
• Leverage and margins: Leverage allows you to amplify your exposure to the market, which can increase your gains but also your losses. Some brokers offer higher leverage than others, which may be attractive to experienced traders but risky for beginners. Check that the broker offers leverage levels that are in line with your risk tolerance, and that it provides clear explanations of the necessary margins.
• Customer service and educational resources: Good customer service is essential, especially in the event of a technical problem or urgent question. Check that the support is easily reachable, ideally in several languages, and that the response times are reasonable. In addition to support, some brokers offer educational resources: tutorials, webinars, articles, to help you develop your trading skills. For beginners, these resources are a valuable asset.
• User reviews: User reviews and online tests are also a good source of information. They allow you to understand the strengths and weaknesses of each broker according to the experience of real customers. Keep in mind, however, that each experience is subjective: you must cross-reference several sources of opinions to obtain a global and balanced picture.

How to Trade with an Online Broker?

Embarking on online trading involves several key steps: from opening an account to using the trading platform, including managing funds and risks. Here's an overview of the standard process offered by most online brokers.

1. Open a Trading Account

The first step is opening an account with a regulated broker. This process generally includes:

• Online registration: You need to fill out a form with your personal information (name, email address, phone number), and then choose your country of residence.
• Identity verification (KYC): To comply with international regulations, it is mandatory to provide a valid identity document and proof of address. This verification ensures account security and prevents fraud.
• Choice of account type: Brokers offer different types of accounts (standard, commission-free, with reduced spreads, etc.) adapted to various trader profiles.

2. Deposit Funds

Once the account is activated, the next step is to fund it:

• Deposit Methods: Most brokers accept payments by credit card, bank transfer or e-wallets such as Skrill, Neteller or PayPal.
• Minimum amount required: The minimum initial deposit varies depending on the broker, but often ranges from ZAR 1,800 to ZAR 4,500. It is advisable to start with sufficient capital to properly manage risk, especially when using leverage.

3. Use the Trading Platform (e.g. MT4/MT5)

Once the funds are deposited, you can access the chosen trading platform. The most common are MetaTrader 4 (MT4) and MetaTrader 5 (MT5):

• Installation and connection: The platforms are available for download on your computer or in a web version. Once installed, simply log in with the credentials provided by the broker.
• Interface discovery: MT4/MT5 offer advanced features: real-time charts, technical indicators, analysis tools, window customization, fast order execution and automated management via trading robots (EAs).
• Demo accounts: It is strongly recommended to start with a demo account to familiarize yourself with the interface, test strategies and understand market mechanisms without risking your capital.

4. Practical Example: Forex Trading on EUR/USD

Let's take the example of a typical transaction on the Forex market, trading the EUR/USD pair:

• Market Analysis: Before opening a position, it is strongly advised to perform a technical analysis. With MT5, you can use technical indicators (such as moving averages or Bollinger Bands) to identify a trend. Suppose you identify a bullish signal indicating that the euro could strengthen against the dollar.
• Placing a Buy Order: On Eightcap's MT5 platform, click on "New Order". Select EUR/USD and choose the trading volume (for example, 0.1 lot). Then click on "Buy" to open a long position.
• Risk Management: To protect your capital, we recommend placing a stop loss. Imagine you place a stop loss at 50 pips below your entry point to limit your potential losses. You can also set a take profit at 100 pips above your entry point to lock in your gains if the market moves in your favour.

5. Monitor and Close the Position

• Surveillance : With MT5, you can track your position's progress in real-time. The charts allow you to see if the trend is evolving as expected. You can also adjust your stop loss or take profit based on market movements.
• Close the position : When the EUR/USD pair reaches your target or you deem the moment opportune, you can manually close the position by clicking "Close Position". If the take profit or stop loss is reached, the position will close automatically.

6. Analysis of Results and Adjustments

Once the position is closed, analyze the result:

• Profits or Losses: Suppose EUR/USD hit your 100 pip profit target, meaning that depending on your position size, you made a proportional profit. For example, with a volume of 0.1 lot, 100 pips could equal approximately 100 USD in profit.
• Trading Log: Use the log built into MT5 to review all the decisions made during this transaction. Understanding what worked well and what can be improved is essential to developing your trading skills.

Good to know

If you are a beginner, we advise you to choose an online broker that will also allow you to follow a dedicated trading training course and offer you a demo account.

Are trading brokers safe in South Africa?

Security is a primary concern for investors when selecting a trading broker. In South Africa, brokers are regulated by the Financial Sector Conduct Authority (FSCA), which enforces stringent measures to protect investor funds and ensure a secure trading environment. Here’s an overview of the key regulations and protections that apply to brokers operating in South Africa:

• Regulation and supervisory authorities: Trading brokers in South Africa must be registered with the FSCA and comply with its regulations. The FSCA oversees brokers to ensure adherence to standards of transparency, risk management, and client protection.
• Segregation of client funds: FSCA mandates that brokers maintain a clear separation between client funds and their own operational funds. This segregation ensures that investor deposits are held in separate accounts, safeguarding them even if the broker faces financial difficulties.
• Compensation and deposit protection: While South Africa does not currently have a government-backed investor compensation scheme for trading accounts, the FSCA requires brokers to adhere to strict financial standards to protect client funds.
• Negative balance protection: Although not mandated by the FSCA, some brokers offer negative balance protection voluntarily. This feature ensures that traders cannot lose more than the capital they have invested, even in extreme market conditions.
• Transparency of information: FSCA-regulated brokers are required to provide clear and detailed information about their trading conditions, including fees, spreads, leverage, and associated risks. This transparency helps traders make informed decisions and understand the full cost and risk of their investments.
• Data protection and technological security: Brokers in South Africa are expected to implement advanced security measures to protect clients' personal and financial data. The FSCA emphasizes the importance of data encryption, secure storage, and robust cybersecurity protocols to prevent unauthorized access.
• FSCA's warning list: To protect investors from scams and unauthorized brokers, the FSCA maintains a list of entities that are not registered or are operating without proper authorization. Before opening an account, traders should verify whether the broker is registered with the FSCA and not listed on its warning list.

What are the broker fees for trading?

Here is a table summarizing the different types of fees charged by online brokers, with average rates or amounts and an example for each type of fee. This table is designed to give you an idea of the costs you may encounter when using a trading broker.

• The spreads: Spreads are fees automatically charged by brokers on each position taken by the trader. It represents a slight difference between the buying price and the selling price of a financial product. Depending on the broker, and depending on the asset chosen, the spread can be fixed or variable. In the case of a variable spread, the cost of this spread will vary depending on the volatility of the market. Spreads represent the broker's main remuneration.
• Swap fees: The swap is a fee levied on a position between two market sessions. They, therefore, mainly concern traders practicing swing trading. Thus, and each time you keep a position open from one day to the next, fees are levied on your account as a charge. The amount of these fees varies depending on the broker's internal policy as well as depending on the volatility.
• Withdrawal fees: If they are not applied by all brokers and for all types of withdrawal, these fees may be levied when the trader withdraws money from their trading account. Note, however, that depending on the withdrawal method chosen, it is possible to obtain free withdrawals from most brokers.
• Conversion fees: As the name suggests, these fees are applied to currency exchanges. A conversion may in particular be applied by a broker if you invest in an asset denominated in dollars with the euro. 
• Account maintenance fees: While these fees have become increasingly rare over time, some brokers still charge them and these are general fees. They can be billed monthly, quarterly or annually.
• Inactivity fees: Some brokers also charge inactivity fees which are applied when the trader does not use their trading account for a certain period of time. Most often, these fees are only charged after 12 months or 24 months of inactivity. But some brokers apply them after 6 months. The amount of inactivity fees will also vary depending on the broker's policy and we advise you to check these before registering.
• Specific stock fees: Stock trading will also involve certain specific fees at some brokers. This may include subscription fees or commissions additional to the spread. Most often, these are fees levied in order to have access to foreign market data in real time.
• Guaranteed stop-loss order fees: Finally, some brokers also charge for the use of guaranteed stop-loss orders, even if this practice is also becoming increasingly rare.

Which broker for trading with a demo account?

One of the most effective ways to learn online trading is to use a demo account free demo account. These accounts are offered by many brokers and allow you to test the platform and practice using different strategies before risking your own money. 

The demo account is equipped with virtual capital that can be unlimited or limited. This is virtual money that you will use to make your investments under real market conditions. Similarly, the length of time you can use a demo account will vary from one broker to another.

A trading demo account allows you to enjoy various advantages, including: 

• The ability to learn without taking risks: a demo account will allow you to speculate in real conditions on the market without taking the risk of betting your own capital and therefore losing it.
• The ability to learn how to use the platform: still from a demo account, you will also be able to test most of the features offered by your broker's trading platform. This will allow you to practice using its features and tools safely.
• The ability to test trading strategies: finally, the demo account also has the advantage of allowing you to test different trading strategies in parallel in order to detect the best solution and the best method.

How much can you earn with a trading broker?

It is of course difficult to say with precision how much it is possible to earn from trading, since your earnings depend above all on your experience, your level of knowledge and your initial investment.

If you take the time to train and practice using a demo account, your potential earnings will also depend on the type of strategy you implement.

• With a Swing trading strategy, you can expect an optimal return of around 10% per month.
• With a Day trading strategy, you can expect an approximate return of 30% or more per month, spending 5 to 6 hours a day trading.

Of course, the amount you can earn as a retail trader will also depend on the amount you invest on the trading platform. Indeed, a 10% return on an account with a deposit of ZAR 1 000 represents only ZAR 100, whereas if you deposit ZAR 10 000 you could earn up to ZAR 1 000 per month with an effective strategy.

Are Trading Profits Taxable in South Africa?

Yes, trading profits are taxable in South Africa. The taxation depends on the nature of the trading activity and the holding period of the assets. Here's an overview of how trading gains are taxed:

• Income Tax on Trading Profits: Profits from trading activities, such as forex or stock trading, are considered part of your taxable income and are subject to income tax. The tax rates are progressive, ranging from 18% to 45%, depending on your total taxable income.
• Capital Gains Tax (CGT): If you hold an asset as a long-term investment and then sell it at a profit, the gain may be subject to CGT. For individuals, 40% of the capital gain is included in taxable income, and the effective tax rate can be up to 18%.
• Annual Exclusion: Individuals are entitled to an annual exclusion of R40,000 on capital gains. This means that the first R40,000 of your capital gains in a tax year is not subject to CGT.
• Provisional Tax: If you earn income that is not subject to Pay-As-You-Earn (PAYE) tax, such as trading profits, you may be required to register for provisional tax and make biannual tax payments.
• Record Keeping: It's essential to maintain accurate records of all your trading transactions, including purchase and sale dates, prices, and associated costs, to ensure correct tax computation and compliance.

It's important to consult with a tax professional or refer to the South African Revenue Service (SARS) guidelines to understand your specific tax obligations related to trading activities.

All our guides on trading in South Africa

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.