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South Africa forex brokers

Forex and binary options brokers are flocking to South Africa. One of the reasons is that the country’s economy is rapidly growing, and the demand for financial services is high among the population. Another reason is probably the rising regulatory pressure upon forex (and especially binary options) brokers in Europe, urging them to seek new markets to expand.


Indeed, there is huge market potential for forex and related services in South Africa. It is the most economically developed country in Africa and is the only country from the continent that is part of the G20. Its financial, legal, and communications sectors are well-developed. What is more, the south African JSE Limited is the largest stock exchange in Africa and among the top 20 in the world.


The Financial Services Board (FSB) oversees the non-banking financial services industry, which includes collective investment schemes (unit trusts and stock market) and financial advisors and brokers, among others. It is in charge of the licensing process of financial service providers, it is responsible for ensuring that the regulated entities comply with the relevant legislation as well as the capital adequacy requirements to promote financial soundness of these entities and thereby protecting the investing community.
Moreover, the FSB has enforcement powers to deal with breaches through the enforcement committee, and also runs a customer complaints service, the Office of the Ombud for Financial Services Providers.


With both forex and binary options trading allowed and well-regulated by the FSB and with relatively few limitations, such as the investment limit of R5 million, South Africa is truly an attractive and promising destination for financial services providers.

Below is a list of forex brokers regulated in South Africa.
XM is in process of obtaining a regulatory approval. 



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South Africa forex brokers

Broker Regulation Min.deposit Leverage Platforms Review
CySec $5 1:1000 MT4, MT5, Web Review Website
FCA, ASIC, MAS, BaFin $0 1:200 MT4, Web,
ProRealTime,
2Dealer
Review Website
FCA, ASIC $50 1:400 MT4, Trading
Station,
NinjaTrader
Review Website
FCA, CySEC $100 1:500 MT4, MT5, FxPro
Markets,
cTrader
Review Website
ASIC, Central Bank of Ireland $100 1:400 MT4, AvaTrader Review
FSA, FCA, ASIC $10 000 1:100 Web, SaxoTrader Review
CySec $50 1:1000 MT4, Web Review
CySEC $100 1:400 Xtrader Pro Review
CySEC, FSB $100 1:200 Sirix Web,
Mobile
Review
FSB $1000 1:100 Alfa Trader Review
FSB R3 500 1:500 MT4 Review
FSB R5 000 1:100 MT4, CloudTrade Review
FSB R5 000 1:500 MT4, Web Review
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Related News

Grand Capital opens offices in South Africa, Nigeria adds Nigerian Naira as payment option

Jul 21 2017 10:04:03 Jonathan Smith in Brokers

 Forex, CFD and binary options broker Grand Capital has opened a third office in South Africa – in Johannesburg.   The other two are already operatin in the towns of Emalehleni and Polokwane. Read more

Plus500 gets South African license

Feb 09 2017 08:18:23 Jonathan Smith in Brokers

Plus500, one of Europe's leading forex and CFD brokers, obtained a license from South Africa's non-banking financial companies regulator, the Financial Services Board (FSB). It allows Plus500 to operate an online trading platform for retail customers to trade CFDs in South Africa. Read more

Plus500 gets South African license

Feb 09 2017 08:18:23 Jonathan Smith in Brokers

Plus500, one of Europe's leading forex and CFD brokers, obtained a license from South Africa's non-banking financial companies regulator, the Financial Services Board (FSB). It allows Plus500 to operate an online trading platform for retail customers to trade CFDs in South Africa. Read more

FXCM expands to South Africa, opens office in Johannesburg

Nov 16 2016 13:11:25 Stanimir Zhelev in Brokers

FXCM Group announced on Wednesday that its affiliate has opened its first office in Johannesburg. Read more

XM applies for South African forex license with FSB

Oct 10 2016 10:36:17 Stanimir Zhelev in Brokers

Our team learned that award-winning FX and CFDs brokerage XM has applied for a license in South Africa. The company has submitted the documents required with the local regulator, the Financial Services Board (FSB), on August 29. Read more

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