11 Best Forex Brokers in South Africa with High Leverage (2024)

One of the most attractive advantages of the foreign exchange market is that forex trading can be done with leverage. This means that forex traders can open larger positions despite their initial minimum deposit, with the broker taking a small percentage (margin requirement) as collateral for the trade.

While this can increase the chances of earning significant profits, it can also lead to significant losses. South African traders are urged to work according to a tested risk management plan when they use leverage to protect their capital.

Many forex brokers offer high maximum leverage ratios in South Africa and the following 11 are the best in the industry.

IFX Brokers

Features

Headquartered in South Africa and regulated by the Financial Sector Conduct Authority (FSCA), the market regulator for the country, IFX Brokers is one of the top brokers in South Africa known for its transparent fee schedules, wide range of tradable assets, and high leverage of 1:500.

In addition to this IFX Brokers offers the use of MetaTrader 4 through which trades can be executed, providing traders with a range of useful tools that can be used from conducting technical analysis, testing strategies, and using a helpful demo account to navigate live market conditions in a safe environment using virtual funds.

Alpari

Features

Alpari is one of the best international forex brokers that has been in operation since 1998 and which serves millions of forex traders, including South African forex traders.

Alpari is unique and offers more leverage than most regulated forex brokers ordinarily would, up to 1:1000 for retail traders. Alpari also has an ultra-low minimum deposit requirement of $20, allowing traders to register for a live trading account with low capital.

Active traders and high-volume traders can qualify for higher leverage ratios up to 1:3000, which is strictly reserved for professional traders who have the necessary trading experience paired with effective risk management protocols.

Alpari is also known for its loyalty program that offers traders up to a 20% refund on their spreads.

FBS

Features

FBS is an international forex broker that offers a wide range of forex and CFD trading instruments that are spread across several asset classes. FBS is well-known for its competitive trading conditions and flexible trading solutions.

FBS caters for South African traders and offers low minimum deposit requirements paired with high maximum leverage ratios up to 1:3000 for retail traders. However, despite this, it is recommended that only experienced traders in South Africa use leverage this high with effective risk management.

With FBS, forex traders in South Africa can expect a wide range of major pairs, minor pairs, and several others along with stock trading, crypto trading, commodity trading, and more which can be traded through powerful trading platforms including an innovative proprietary trading mobile app.

AvaTrade

Features

AvaTrade is a globally recognised market maker forex broker used by thousands of South African traders, from beginner traders to professionals, despite their trading needs and objectives.

AvaTrade offers traders access to a wide range of financial instruments including major forex pairs, minor pairs, commodities, options, and several other asset classes while using leverage up to 1:400.

Apart from supporting the use of the MetaTrader suite, AvaTrade also offers its proprietary trading platform that can be used by traders in South Africa.

Blackstone Futures

Features

Blackstone Futures is a trusted South African forex broker that is well-known for its competitive trading conditions with tight spreads, commission-free trading, and the benefit that deposit fees and withdrawal fees are not charged.

In addition to this, Blackstone Futures allows South African traders the use of maximum leverage up to 1:400 that can be applied to forex major pairs. Another important feature is that Blackstone Future applies negative balance protection to retail investor accounts, offering traders additional protection.

FOREX.com

Features

FOREX.com is one of the most popular forex brokers in South Africa where decent maximum leverage is concerned. FOREX.com is the ideal broker for forex traders who want to carry out their in-depth research into the currency market and different market conditions.

FOREX.com offers advance price charts on its proprietary trading platform that features 50 built-in technical indicators, performance analytics modules, and more.

In addition to this, FOREX.com is known for offering competitive trading conditions in South Africa, consisting of tight variable spreads, transparent trading fees, and ultra-low non-trading fees.

Vantage FX

Features

Vantage FX is one of the largest, most popular international forex brokers that offer South African traders access to the forex market with high maximum leverage of up to 1:500.

Vantage FX offers a wide range of forex and CFDs including more than 40 currency pairs and several other financial instruments spread across a variety of asset classes.

Vantage FX offers South African traders commission-free retail trading accounts with competitive spreads. For more advanced traders in South Africa, Vantage FX offers a choice between two dynamic account types.

Plus500

Features

Plus500 is another popular CFD trading broker that offers competitive trading conditions to South African traders, regardless of whether they are a beginner or professional traders.

With Plus500, traders from South Africa can trade more than 70 forex pairs, over 1,900 stocks and exchange-traded funds (ETFs), and several cryptocurrencies.

Skilling

Features

Skilling is one of the best high leverage brokers for forex traders in South Africa, with more than 70 currency pairs offered. Traders can trade forex major pairs with a maximum leverage up to 1:500.

Skilling is well-known for its low trading costs and fees, with spreads that start from 0.7 pips with the advantage that deposit fees, withdrawal fees, and inactivity fees are not charged, making it one of the cheapest forex trading platforms for traders in South Africa.

FinmaxFX

Features

FinmaxFX is a popular high leverage broker in South Africa that offers 60 forex pairs that can be traded using maximum leverage up to 1:200. FinmaxFX offers a choice between different retail account types, each catering for a different type of trader.

However, FinmaxFX charges high minimum deposit requirements, even for entry-level accounts. However, as traders upgrade through the accounts, they gain access to different advantages such as forex signals and bonuses.

Exness

Features

Exness is a popular and well-regulated broker in South Africa that serves retail traders along with institutional investors. Exness offers competitive trading conditions along with high maximum leverage up to 1:2000.

Exness is known for its ultra-low minimum deposit requirements, powerful trading platforms, and multi-currency account types. Exness offers negative balance protection, demo accounts, and a wide range of assets that can be traded through MetaTrader 4 and MetaTrader 5.

Other Guides for South African Traders:

The Best Forex Brokers in South Africa

Forex Brokers with ZAR Accounts

FSCA Regulated Forex Brokers in South Africa

South African Forex Brokers with Islamic Accounts

South African Brokers with $100 Minimum Deposit

South African Brokers with Low Minimum Deposits