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Interactive Brokers in South Africa — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%50
- Round-turn cost20%100
- Safety20%0
- Payouts15%60
- Track record10%100
- Platforms10%0
Numbered by weight: axis 1 counts for most.
Key facts (5 facts)
- Onboarding entity
- IBKR LLC
- Founded
- 1978
- Round turn
- 5 USDZA
- Currencies
- Multi-currency incl. USD; ZAR not a standard base currency.
- Swap-free account
- no
Licence check
Open an account with Interactive BrokersThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards South Africa residents
- IBKR LLC
- Local standing
- Group tier-1 regulated; not on FSCA register for local retail. SA residents accepted.
- Licence as the register states it
- No local FSCA licence; served under US/EU-regulated entities.
- Leverage for this entity
- Modest margin; FX up to ~1:50 (US) / ~1:30 (EU). DMA multi-asset, not high-leverage CFD.
- The firm behind it
- Founded 1978; NASDAQ-listed; global electronic broker.
- What we hold against it
- Strong global reputation; not FSCA-authorised, so no local ZA regulatory protection.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
Modest margin; FX up to ~1:50 (US) / ~1:30 (EU). DMA multi-asset, not high-leverage CFD.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youGroup tier-1 regulated; not on FSCA register for local retail. SA residents accepted.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against South Africa market median(priced from 80 of 103)
Medians run over the 80 of 103 brokers that publish a price for South Africa, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Cash or Margin, no fixed minimum (margin USD 2, 000). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Interactive Brokers sits in the South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · this broker 5 USD · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · this broker 0 USD · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts(1 method)
| Method | Deposit, h | Withdrawal, h | Fee, USD | Min, USD |
|---|---|---|---|---|
| International bank wire | 24 | — | 0 | 50 |
Deposit and withdrawal methods (1 methods · 0 local rails)
International bank wire;
- International bank wire
- Account currency
- Multi-currency incl. USD; ZAR not a standard base currency.
- Fee declared
- 1 of 1 methods
- Withdrawal back to
- the funding method
Where it does not serve(6 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(6 platforms)
- TWS
- IBKR Desktop
- mobile
- GlobalTrader
- API
| Class | Count | Min spread |
|---|---|---|
| TWS | — | 0.1 |
| IBKR Desktop | — | 0.1 |
| mobile | — | 0.1 |
| GlobalTrader | — | 0.1 |
| API | — | 0.1 |
| Forex pairs | 100+ | — |
184 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: IC Markets Raw Spread MT4/MT5, IC Markets Raw Spread cTrader, Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard and 178 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.0 | — |
Share of reviewers in South Africa: — The platform does not publish it.
Pros and cons(4 for and 3 against, each tied to a figure on this page)
- Round turn 5 USD on the raw + commission basis, under the South Africa median 7
- Min deposit 0 USD, under the South Africa median 50
- Round-turn cost 100 of 100, its strongest of 6 scored axes
- 5 platforms: TWS, IBKR Desktop, mobile, GlobalTrader
- No South Africa authorisation on file: the entity that onboards you is licensed elsewhere
- Withdrawal in 48 h, over the South Africa median 24
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 4.5ZA
- Min deposit, USD
- 0ZA
- Leverage
- 500ZA
- Rank in this country
- #18
- Round turn, USD
- 6ZA
- Min deposit, USD
- 0ZA
- Leverage
- 500ZA
- Rank in this country
- #34
- Round turn, USD
- 5ZA
- Min deposit, USD
- 10ZA
- Leverage
- 500ZA
- Rank in this country
- #17
- Round turn, USD
- 4.2ZA
- Min deposit, USD
- 0 groupZA
- Leverage
- 200ZA
- Rank in this country
- #23
- Round turn, USD
- 6ZA
- Min deposit, USD
- 0 groupZA
- Rank in this country
- #67
- Round turn, USD
- 6ZA
- Min deposit, USD
- 20ZA
- Leverage
- 30 group
- Rank in this country
- #2
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology
| Axis | Weight | What is measured | Interactive Brokers |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 50 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 100 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 60 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 0 |
FAQ
- Does Interactive Brokers accept residents of South Africa?
- Yes. Group tier-1 regulated; not on FSCA register for local retail. SA residents accepted. Onboarding entity: IBKR LLC
- Is Interactive Brokers licensed to serve clients in South Africa?
- No local FSCA licence; served under US/EU-regulated entities. Checked on 09.07.2026.
- How much does one round turn cost at Interactive Brokers?
- About 5.0 USD per standard lot on EUR/USD. The median across brokers measured for South Africa is 7.0 USD.
- Which trading platforms does Interactive Brokers support?
- TWS, IBKR Desktop, mobile, GlobalTrader, API. Instruments: Global stocks, options, futures, FX, bonds, funds; DMA.
- How can I withdraw money from Interactive Brokers in South Africa?
- International bank wire; no local ZAR e-wallet rails verified. SARB forex allowance applies.
- What account types does Interactive Brokers offer?
- Cash or Margin; no fixed minimum (margin USD 2,000).
- Does Interactive Brokers offer a swap-free (Islamic) account?
- No. Interactive Brokers publishes no swap-free (Islamic) account for South Africa.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://interactivebrokers.com/en/accounts/open-account-country-list.php
Not tax advice. Check with SARS.