What a spread is, and what it costs you

A spread is the gap between the price you can buy at and the price you can sell at, quoted in pips. It is charged the moment a position opens, which is why it is the one cost every trade pays whether it wins or loses.

A spread alone does not say what a trade costs. An account with a 0.0-pip raw spread usually charges commission per lot instead, and an account with a 1.2-pip spread usually charges none. The comparable figure is the round turn - spread plus commission for one lot, in and out - and that is what the tables here rank on.

The ten below are the brokers in South Africa publishing the tightest EUR/USD spread for a standard account. They are ordered by the figure they publish, not by preference, and a broker that publishes no spread is not on the list at all.

EUR/USD spread, pips (81 of 103 · median 1 pips)

38<1

412

0>4

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (80 of 103 counts · 100 brokers onboarding South African residents)

80of 103

qualify for this ranking

78% of 103

67of 80

scored on all six axes

84% of 80

80of 103

publish a price

78% of 103

72of 103

publish a leverage figure for this country

70% of 103

Top 3 (of 3 ranked)

1OctaFX4.55highest score of the three · locally licensed · withdrawal in 3 h 2Capital.com4.48locally licensed · withdrawal in 24 h 3HFM4.46locally licensed · withdrawal in 24 h

What a spread is, and what it costs you (80 of 103)

By slice score, formula v1.0. · 80 of 100 brokers in this ranking · all 80

#	Broker	Round turn, USDZA	Min deposit, USDZA	Leverage	Withdrawal, hZA	Score	Execution	Founded	Funding
1	CFI	—	0	500ZA	24	4.69	ECN/raw + standard	1998	3 methods · local
2	OctaFX	9	25	1000ZA	3	4.55	ECN/raw + standard	2011	3 methods · local
3	Capital.com	6	20	30 groupZA	24	4.48	Standard	2016	3 methods · local
4	FP Markets	6.5	100	500ZA	72	4.46	ECN/raw + standard	2005	3 methods
5	HFM	6	0 group	2000ZA	24	4.46	ECN/raw + standard	2010	3 methods · local
6	Exinity	4	—	—stated, not verified	24	4.38	ECN/raw + standard	2020	2 methods · local
7	ACY Securities	6	50 group	500 groupZA	24	4.37	ECN/raw + standard	2011	5 methods · local
8	FXGT	6	10	5000ZA	24	4.36	ECN/raw + standard	2019	6 methods · local
9	Admirals	6	25	500ZA	24	4.36	ECN/raw + standard	2001	4 methods · local
10	Mitrade	8.5	20	200ZA	24	4.32	Standard	2011	4 methods
11	ThinkMarkets	7	50	500ZA	4	4.28	ECN/raw + standard	2010	5 methods · local
12	IG Markets SA	7.5	50	30ZA	72	4.28	Standard	1974	2 methods · local
13	AvaTrade	9	100	400ZA	24	4.27	Standard	2006	5 methods · local
14	Tickmill	6	100	1000ZA	24	4.27	ECN/raw + standard	2014	4 methods · local
15	FXCM	7	4	400ZA	72	4.26	ECN/raw + standard	1999	2 methods · local
16	CMTrading	8	300	200ZA	24	4.24	ECN/raw + standard	2012	4 methods · local
17	STARTRADER	4	50	1000ZA	24	4.23	ECN/raw + standard	2019	4 methods
18	Headway	3	1	—stated, not verified	0.5	4.2	ECN/raw + standard	2023	4 methods · local
19	JustMarkets	3	10 group	3000ZA	48	4.18	ECN/raw + standard	2012	3 methods · local
20	CAPEX	6.5	100	300ZA	24	4.15	ECN/raw + standard	2016	3 methods · local
21	Grand Capital	5	10	500ZA	0.25	4.14	ECN/raw + standard	2006	3 methods
22	Fusion Markets	4.5	0	500ZA	1	4.13	ECN/raw + standard	2017	6 methods
23	IG Markets	13.6	50	20ZA	72	4.13	ECN/raw + standard	1974	3 methods · local
24	Markets.com	6	100	300ZA	168	4.13	Standard	2008	5 methods · local
25	IC Markets	7.5	200	500ZA	24	4.12	ECN/raw + standard	2007	9 methods · local
26	Land-FX	3.35	10	2000ZA	1	4.1	ECN/raw + standard	2008	7 methods · local
27	Forex.com	7	100 group	50ZA	—	4.06	ECN/raw + standard	2001	3 methods
28	ActivTrades	4.2	0 group	200ZA	24	4.03	ECN/raw + standard	2001	4 methods
29	Global Prime	7	0 group	500ZA	2	4.03	ECN/raw + standard	2010	6 methods
30	Moneta Markets	7	50	1000ZA	24	4.02	ECN/raw + standard	2019	5 methods
31	AMarkets	7	100 group	3000ZA	24	4.01	ECN/raw + standard	2007	3 methods
32	Scope Markets	9	10 group	1000 groupZA	48	4	ECN/raw + standard	—	4 methods · local
33	Ultima Markets	5	50 group	2000ZA	120	4	ECN/raw + standard	2016	5 methods
34	Trade Nation	5	0 group	200ZA	120	3.98	Standard	2014	3 methods · local
35	FxPro	7	100	200ZA	3	3.98	ECN/raw + standard	2006	3 methods · local
36	Pepperstone	7	200	400ZA	24	3.97	ECN/raw + standard	2010	5 methods · local
37	Traders Trust	6	50	3000ZA	24	3.96	ECN/raw + standard	2009	5 methods
38	Khwezi Trade	4	50 group	400ZA	72	3.96	ECN/raw + standard	2013	1 methods · local
39	Plus500	8	10	30ZA	72	3.95	Standard	2008	5 methods · local
40	BlackBull Markets	6	0	500ZA	72	3.92	ECN/raw + standard	2014	6 methods · local
41	Scope Markets SA	9	100	1000ZA	120	3.92	Standard	2014	4 methods · local
42	Hantec Markets	3	10 group	500ZA	48	3.9	ECN/raw + standard	2009	2 methods
43	FIBO Group	6	50	1000ZA	48	3.88	ECN/raw + standard	1998	5 methods
44	GO Markets	6	200	500ZA	48	3.84	ECN/raw + standard	2006	4 methods
45	XTB	1	0	500ZA	72	3.83	ECN/raw + standard	2002	2 methods
46	ATFX	12	500 group	400ZA	24	3.82	Standard	2017	3 methods · local
47	Orbex	8	100	500ZA	24	3.82	ECN/raw + standard	2010	5 methods
48	FXChoice	7	100	200ZA	24	3.8	ECN/raw + standard	2010	3 methods
49	Tradu	5.9	50 group	30ZA	120	3.8	ECN/raw + standard	2023	3 methods · local
50	Dukascopy	8	100	200ZA	48	3.77	ECN/raw + standard	2004	3 methods
51	IronFX	18	100	500ZA	240	3.76	ECN/raw + standard	2010	6 methods · local
52	Blueberry Markets	7	100 group	500ZA	48	3.75	ECN/raw + standard	2016	7 methods
53	Doo Prime	7	5 group	1000ZA	24	3.73	ECN/raw + standard	2014	4 methods · local
54	Alpari	3.5	30	3000ZA	24	3.71	ECN/raw + standard	1998	5 methods
55	HYCM	5	100 group	500ZA	24	3.71	ECN/raw + standard	1998	5 methods
56	Amana Capital	7	50 group	100ZA	48	3.69	ECN/raw + standard	2010	2 methods
57	MultiBank Group	15	50 group	500ZA	48	3.68	ECN/raw + standard	2005	5 methods
58	Trive South Africa	10	0	—stated, not verified	168	3.68	ECN/raw + standard	2022	4 methods · local
59	LiteFinance	18	50	1000ZA	24	3.67	Standard	2005	3 methods
60	FXOpen	1.5	1 group	500ZA	24	3.67	ECN/raw + standard	2005	6 methods
61	Unum Capital	11	—	—stated, not verified	—	3.64	Standard	1999	2 methods · local
62	FXTM	16	10	2000ZA	24	3.6	Standard	2011	5 methods · local
63	ForexMart	10	15	500ZA	7	3.59	Standard	2015	6 methods · local
64	Skilling	8.5	100	500ZA	24	3.58	ECN/raw + standard	2016	6 methods
65	Windsor Brokers	8	50 group	1000ZA	24	3.58	ECN/raw + standard	1988	3 methods
66	Errante	—	50 group	1000ZA	24	3.58	ECN/raw + standard	2019	5 methods
67	Fullerton Markets	7	—	500ZA	72	3.58	ECN/raw + standard	2015	2 methods
68	Interactive Brokers	5	0	—stated, not verified	48	3.54	ECN/raw + standard	1978	1 methods
69	Swissquote	16	1000	100ZA	24	3.5	ECN/raw + standard	1996	2 methods
70	Equiti	8	500	500ZA	24	3.38	ECN/raw + standard	2003	3 methods
71	TMGM	7	100 group	1000ZA	96	3.35	ECN/raw + standard	2013	6 methods
72	NAGA	11	250	1000ZA	24	3.3	Standard	2015	4 methods · local
73	InstaForex	—	1 group	1000ZA	7	3.28	ECN/raw + standard	2007	3 methods
74	Eightcap	7	100 group	500ZA	120	3.22	ECN/raw + standard	2015	4 methods
75	BDSwiss	10	10 group	2000 groupZA	24	3.21	ECN/raw + standard	2012	4 methods · local
76	T4Trade	18	50 group	1000ZA	24	3.21	Standard	2021	5 methods
77	eToro	10	50 group	30ZA	120	3.19	Standard	2007	5 methods
78	Axiory	2	10 group	400ZA	240	3.04	ECN/raw + standard	2011	6 methods
79	ADSS	12	100 group	500ZA	120	3.02	ECN/raw + standard	2010	2 methods
80	Fortrade	20	100 group	—stated, not verified	120	2.48	Standard	2013	4 methods

Ten are shown; the button opens the rest.

"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.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

IC Markets publishes a retail leverage of 1:500 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

The ten above illustrate the term. Brokers with the lowest spreads in South Africa lists every broker that qualifies, with the figure each one publishes.

Identical for every row, so it is stated once: Who onboards Local · FSCA · Swap-free fee none, no limit · ZAR account Yes.

1. OctaFX — highest score of the three · locally licensed · withdrawal in 3 h (score 4.55)

Round turn: 9 USD
Withdrawal: 1-3 hours on business days
ZAR account: USD, EUR
Leverage: 1000ZA
Licence: FSCA 51913
Accepts residents: yes
Onboarding entity: Orinoco Capital Pty Ltd
Founded: 2011
Group leverage: uncleargroup
Instruments: Forex, crypto, stocks
Platforms: MT5cTraderWebTradingView
Funding: EFT, OZOW, local bank
Not served: United States, Canada, United Kingdom, European Union, Israel, Japan, New Zealand, North Korea, Iran, Myanmar, Philippines, Singapore

Reviews25%90
Round-turn cost20%80
Safety
Payouts15%98
Track record10%75
Platforms65

Why it ranks here

Round turn 9 USD against the slice median 7 USD. strongest axis payouts 98 of 100. total score 4.55.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of OctaFX

2. Capital.com — locally licensed · withdrawal in 24 h (score 4.48)

Round turn: 6 USD
Withdrawal: 24 hours
ZAR account: USD-denominated; local ZAR account availability not verified at review.
Leverage: 30 groupZA
Accepts residents: yes
Onboarding entity: South African clients are now onboarded by the new local entity Capital Com South Africa (Pty) Ltd, which received FSCA approval in June 2026 (previously SA was served offshore/restricted).
Founded: 2016
Register: https://capital.com/en-int/press · 09.07.2026
Group leverage: unclear
Instruments: CFD-only broker; the SA entity advertises 5,000+ CFD markets across equities, commodities, indices, FX and crypto.
Platforms: MT5MT4Web
Funding: Cards, bank transfer and e-wallets; ZAR instant-EFT support not verified at review.
Not served: Afghanistan, American Samoa, Belgium, Bahamas, Barbados, Belarus, Burkina Faso, United States of America, Cameroon, Canada, China, Congo, Democratic Republic of the Congo, Cuba, Eritrea, Gibraltar, Guam, Haiti, India, Indonesia, Iran, Iraq, Israel, Japan, Artsakh (Nagorno-Karabakh), Kosovo, North Korea, Libya, Malaysia, Mali, Marshall Islands, Federated States of Micronesia, Myanmar, New Zealand, Northern Mariana Islands, Palestine, Palau, Philippines, Puerto Rico, Russia, Sahrawi Arab Democratic Republic, Samoa, Senegal, Somalia, South Sudan, Sudan, Syria, Turkey, United States Minor Outlying Islands, Vanuatu, Venezuela, Virgin Islands, US, Yemen

Why it ranks here

Round turn 6 USD against the slice median 7 USD. strongest axis safety 100 of 100. total score 4.48.

Watch for

Min deposit 200 USD, double the South Africa median of 50; withdrawal time not published.

Full review of Capital.com

3. HFM — locally licensed · withdrawal in 24 h (score 4.46)

Round turn: 6 USD
Withdrawal: same business day
ZAR account: ZAR trading accounts offered; also USD.
Leverage: 2000ZA
Licence: 46632
Accepts residents: yes
Onboarding entity: SA clients served under LOCAL FSCA-licensed entity HF Markets SA (Pty) Ltd.
Founded: 2010
Register: https://fxscouts.co.za · 09.07.2026
Group leverage: uncleargroup
Instruments: 1000+ CFDs: FX, metals, indices, shares, commodities, crypto.
Platforms: MT5WebMobile
Funding: Fast free deposits/withdrawals via local ZAR banks; cards, e-wallets.
Not served: United States, Canada, Sudan, Syria, Iran, North Korea

Why it ranks here

Round turn 6 USD against the slice median 7 USD. strongest axis round-turn cost 95 of 100. total score 4.46.

Watch for

Onboards South African residents through an offshore entity: no FSCA licence, no FSCA complaints route, no ZAR account.

Full review of HFM

What the data shows(80 of 103 distributions · 100 brokers)

Swap-free availability (80 of 103 brokers)

Offered30Not offered14

Admin fee after the free period (80 of 103 swap-free)

Never16After 3–30 days9not published5

Who onboards South African residents (80 of 103 brokers)

Local FSCA entity20Offshore entity24

ZAR account (80 of 103 brokers)

Yes16No23not published5

Round turn, one lot, USD (80 of 103 · median 7 USD)

14<5

5010

915

620

1>20

Full list(80 of 103)

1CFI4.69
Onboards
Local · FSCA
Swap-free
none, no limit
Min deposit, USD
0
Leverage
500ZA
ZAR
Yes
2OctaFX4.55
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
25
Leverage
1000ZA
ZAR
Yes
3Capital.com4.48
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
20
Leverage
30 groupZA
ZAR
Yes
4FP Markets4.46
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6.5
Min deposit, USD
100
Leverage
500ZA
ZAR
Yes
5HFM4.46
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
0 group
Leverage
2000ZA
ZAR
Yes
6Exinity4.38
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
4
ZAR
Yes
7ACY Securities4.37
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50 group
Leverage
500 groupZA
ZAR
Yes
8FXGT4.36
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
10
Leverage
5000ZA
ZAR
Yes
9Admirals4.36
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
25
Leverage
500ZA
ZAR
Yes
10Mitrade4.32
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8.5
Min deposit, USD
20
Leverage
200ZA
ZAR
Yes
11ThinkMarkets4.28
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
50
Leverage
500ZA
ZAR
Yes
12IG Markets SA4.28
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7.5
Min deposit, USD
50
Leverage
30ZA
ZAR
Yes
13AvaTrade4.27
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
100
Leverage
400ZA
ZAR
Yes
14Tickmill4.27
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
100
Leverage
1000ZA
ZAR
Yes
15FXCM4.26
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
4
Leverage
400ZA
ZAR
Yes
16CMTrading4.24
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
300
Leverage
200ZA
ZAR
Yes
17STARTRADER4.23
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
4
Min deposit, USD
50
Leverage
1000ZA
ZAR
Yes
18Headway4.2
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
3
Min deposit, USD
1
ZAR
Yes
19JustMarkets4.18
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
3
Min deposit, USD
10 group
Leverage
3000ZA
ZAR
Yes
20CAPEX4.15
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6.5
Min deposit, USD
100
Leverage
300ZA
ZAR
Yes
21Grand Capital4.14
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
10
Leverage
500ZA
ZAR
Yes
22Fusion Markets4.13
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
4.5
Min deposit, USD
0
Leverage
500ZA
ZAR
Yes
23IG Markets4.13
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
13.6
Min deposit, USD
50
Leverage
20ZA
ZAR
Yes
24Markets.com4.13
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
100
Leverage
300ZA
ZAR
Yes
25IC Markets4.12
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7.5
Min deposit, USD
200
Leverage
500ZA
ZAR
Yes
26Land-FX4.1
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
3.35
Min deposit, USD
10
Leverage
2000ZA
ZAR
Yes
27Forex.com4.06
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
Leverage
50ZA
ZAR
Yes
28ActivTrades4.03
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
4.2
Min deposit, USD
0 group
Leverage
200ZA
ZAR
Yes
29Global Prime4.03
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
0 group
Leverage
500ZA
ZAR
Yes
30Moneta Markets4.02
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
50
Leverage
1000ZA
ZAR
Yes
31AMarkets4.01
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
Leverage
3000ZA
ZAR
Yes
32Scope Markets4
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
10 group
Leverage
1000 groupZA
ZAR
Yes
33Ultima Markets4
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
50 group
Leverage
2000ZA
ZAR
Yes
34Trade Nation3.98
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
0 group
Leverage
200ZA
ZAR
Yes
35FxPro3.98
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100
Leverage
200ZA
ZAR
Yes
36Pepperstone3.97
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
200
Leverage
400ZA
ZAR
Yes
37Traders Trust3.96
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50
Leverage
3000ZA
ZAR
Yes
38Khwezi Trade3.96
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
4
Min deposit, USD
50 group
Leverage
400ZA
ZAR
Yes
39Plus5003.95
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
10
Leverage
30ZA
ZAR
Yes
40BlackBull Markets3.92
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
0
Leverage
500ZA
ZAR
Yes
41Scope Markets SA3.92
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
100
Leverage
1000ZA
ZAR
Yes
42Hantec Markets3.9
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
3
Min deposit, USD
10 group
Leverage
500ZA
ZAR
Yes
43FIBO Group3.88
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50
Leverage
1000ZA
ZAR
Yes
44GO Markets3.84
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
200
Leverage
500ZA
ZAR
Yes
45XTB3.83
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
1
Min deposit, USD
0
Leverage
500ZA
ZAR
Yes
46ATFX3.82
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
12
Min deposit, USD
500 group
Leverage
400ZA
ZAR
Yes
47Orbex3.82
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
100
Leverage
500ZA
ZAR
Yes
48FXChoice3.8
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100
Leverage
200ZA
ZAR
Yes
49Tradu3.8
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
5.9
Min deposit, USD
50 group
Leverage
30ZA
ZAR
Yes
50Dukascopy3.77
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
100
Leverage
200ZA
ZAR
Yes
51IronFX3.76
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
18
Min deposit, USD
100
Leverage
500ZA
ZAR
Yes
52Blueberry Markets3.75
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
Leverage
500ZA
ZAR
Yes
53Doo Prime3.73
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
5 group
Leverage
1000ZA
ZAR
Yes
54Alpari3.71
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
3.5
Min deposit, USD
30
Leverage
3000ZA
ZAR
Yes
55HYCM3.71
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
100 group
Leverage
500ZA
ZAR
Yes
56Amana Capital3.69
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
50 group
Leverage
100ZA
ZAR
Yes
57MultiBank Group3.68
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
15
Min deposit, USD
50 group
Leverage
500ZA
ZAR
Yes
58Trive South Africa3.68
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
10
Min deposit, USD
0
ZAR
Yes
59LiteFinance3.67
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
18
Min deposit, USD
50
Leverage
1000ZA
ZAR
Yes
60FXOpen3.67
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
1.5
Min deposit, USD
1 group
Leverage
500ZA
ZAR
Yes
61Unum Capital3.64
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
11
ZAR
Yes
62FXTM3.6
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
16
Min deposit, USD
10
Leverage
2000ZA
ZAR
Yes
63ForexMart3.59
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
10
Min deposit, USD
15
Leverage
500ZA
ZAR
Yes
64Skilling3.58
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8.5
Min deposit, USD
100
Leverage
500ZA
ZAR
Yes
65Windsor Brokers3.58
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
50 group
Leverage
1000ZA
ZAR
Yes
66Errante3.58
Onboards
Local · FSCA
Swap-free
none, no limit
Min deposit, USD
50 group
Leverage
1000ZA
ZAR
Yes
67Fullerton Markets3.58
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Leverage
500ZA
ZAR
Yes
68Interactive Brokers3.54
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
0
ZAR
Yes
69Swissquote3.5
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
16
Min deposit, USD
1000
Leverage
100ZA
ZAR
Yes
70Equiti3.38
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
500
Leverage
500ZA
ZAR
Yes
71TMGM3.35
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
Leverage
1000ZA
ZAR
Yes
72NAGA3.3
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
11
Min deposit, USD
250
Leverage
1000ZA
ZAR
Yes
73InstaForex3.28
Onboards
Local · FSCA
Swap-free
none, no limit
Min deposit, USD
1 group
Leverage
1000ZA
ZAR
Yes
74Eightcap3.22
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
Leverage
500ZA
ZAR
Yes
75BDSwiss3.21
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
10
Min deposit, USD
10 group
Leverage
2000 groupZA
ZAR
Yes
76T4Trade3.21
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
18
Min deposit, USD
50 group
Leverage
1000ZA
ZAR
Yes
77eToro3.19
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
10
Min deposit, USD
50 group
Leverage
30ZA
ZAR
Yes
78Axiory3.04
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
2
Min deposit, USD
10 group
Leverage
400ZA
ZAR
Yes
79ADSS3.02
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
12
Min deposit, USD
100 group
Leverage
500ZA
ZAR
Yes
80Fortrade2.48
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
20
Min deposit, USD
100 group
ZAR
Yes

How to read the ten below

Start with the figure this page ranks on.
Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.
Check which company would onboard you.
The same brand can take a resident of South Africa through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.
Read the cost beside the deposit.
The median round turn across this country is 7.0 USD and the median minimum deposit 50.0 USD; a low deposit beside a wide spread takes the difference back on every trade.

Neighbouring slices(6 rankings · 5 explainers)

Same country

Explained

FAQ

How many brokers qualify for this ranking in South Africa?: 80 of 103 brokers measured for this country qualify.
Which broker leads it, and on what basis?: OctaFX leads it with a score of 4.55. The order is computed score, highest first; unscored brokers follow.
What does a trade typically cost here?: The median round turn - spread plus commission for one standard lot, in and out - is 7.0 USD across the brokers that publish both parts.
Why do some rows show a dash instead of a figure?: Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.
Why are only ten brokers shown here?: This page explains the term; the ten illustrate it. The full ranking lists 80 of 103 and is one click away.

How this slice is scored

Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

Verified · What changed · Sources(80 of 103 broker records)

Verified01.10.2026

data re-captured 28.09.2026

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.