10 Best Forex Brokers in South Africa that accept Crypto
Overview
One of the most important factors that forex traders must consider when they evaluate forex brokers revolves around the payment methods supported. Ideally, forex brokers must offer several funding options through which traders can fund their trading account and withdraw funds from them.
While bank transfers, bank wire, credit card, debit card, and electronic wallets are extremely popular funding options, cryptocurrency has become increasingly popular with the widespread adoption and use of digital currencies.
Bitcoin, Ethereum, Litecoin, Tether, and several other popular cryptocurrencies are only a few being accepted by forex brokers in South Africa today.
Of all the forex brokers in South Africa that accept crypto deposits and withdrawals, the following brokers are the best choice for South African traders.

IFX Brokers
Features
IFX Brokers operates from within South Africa and is an online broker that is well-known for its transparent trading environment and comprehensive solutions. IFX Brokers offers South African traders one-stop trading and investing experience, regardless of their trading experience or unique trading styles.
IFX Brokers offers a choice in trading accounts, competitive spreads, commission-free trading, and a range of convenient funding options including crypto wallets, Ozow, PayFast, credit card, debit card, wire transfer, bank transfer, Neteller, and Skrill.
Pros and Cons
PROS |
Well-regulated by the Financial Sector Conduct Authority (FSCA) in South Africa |
Trusted online broker with the necessary licensing as a Financial Services Provider |
Provides South African traders competitive spreads and commission-free forex trading |
Offers a choice in financial instruments, powerful trading platforms, and innovative mobile trading app through MetaTrader |
Supports the use of a wide range of convenient funding options |
Provides a safe, fair, and transparent trading environment for South African residents |

HotForex
Features
HotForex is a popular international online broker that has been around for years, providing South African traders with some of the best trading conditions in the industry. HotForex offers a wide range of tradable markets spread across foreign exchange, commodities, cryptocurrencies, precious metals, and several others.
HotForex also offers flexible funding options that can be used to deposit/withdraw funds. HotForex also offers South African traders the peace of mind that client funds are kept secure in segregated accounts with top tier banks.
Pros and Cons
PROS |
Multi-regulated and trusted online broker |
Strong global presence |
Competitive trading conditions are offered across versatile retail investor accounts |
Offers powerful forex trading platforms |
Islamic account option and demo account provided |
Dedicated customer service offered |
CONS |
US clients are not accepted |
|
XM
Features
XM Group is one of the best international forex brokers that has been offering trading solutions since 2009. XM is well regulated by several entities in each region where it facilitates trading in a wide range of markets. XM offers CFD trading as well as forex trading in major currency pairs, minor currency pairs, and exotics. XM provides advanced trading tools that can be used to gain insight into market conditions, exchange rates on different international forex markets, technical indicators, technical analysis, fundamental analysis, an updated economic calendar, and more.Pros and Cons
PROS |
Offers high maximum leverage ratios when trading CFDs and forex |
There is a choice between different retail accounts and powerful forex trading apps |
Suitable broker for beginners, advanced, and professional traders |
Offers a range of investment products and forex markets |
Supports several trading strategies and welcomes all types of traders regardless of their trading experience |
Offers a choice in trading platforms and convenient funding options |
CONS |
Fixed spreads are not offered |
Inactivity fees apply to dormant accounts |
US clients are not accepted |
Core Liquidity Markets (CLMarkets)
Features
CLMarkets is a popular and reputable ECN broker that has been operating since 2013. CLMarkets is well-known as a comprehensive provider of a wide range of over-the-counter (OTC) financial services, financial instruments, and comprehensive trading solutions.
CLMarkets is known for providing multiple trading assets including forex currencies spread across major pairs, minor pairs, and exotic pairs. Traders can also trade precious metals, CFDs, stocks, and more. CLMarkets supports the use of several convenient funding options including Bitcoin, credit and debit card, bank transfer, and others.
Pros and Cons
PROS |
Offers ultra-fast execution |
Supports the use of trading robots, auto trading, and several other trading strategies |
Provides easy and fast funding through major payment methods |
Commission-free trading is offered |
Offers dedicated customer support 24/6 |
Provides live education to beginner forex traders |
CONS |
US clients are not accepted |
High minimum deposit requirement |
FXTM
Features
FXTM is a well-established and award-winning broker with regulation and authorisation through the Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA) in the United Kingdom, and others.
For the past decade, FXTM has expanded to offer a wide range of tradable instruments including foreign currencies, precious metals, commodities, and others. These are available across several powerful trading platforms and an innovative proprietary trading platform and mobile app, the FXTM trader app.
Pros and Cons
PROS |
Well-regulated broker for South African traders with a comprehensive regulatory framework |
Offers tight spreads and commission-free accounts that have negative balance protection applied |
Low minimum deposit required to register an account |
Ideal broker for beginners with a large selection of education materials |
Offers a wide range of quick, easy funding methods |
There are several retail investor accounts to choose from |
CONS |
Inactivity fee applies to dormant accounts |
US clients are not accepted |
RoboForex
Features
Established in 2009, RoboForex is one of the most popular Market Makers in the industry that also offers STP and ECN execution policies. RoboForex offers a choice in retail investor accounts and a wide range of tradable instruments. In addition, RoboForex offers comprehensive solutions to both beginner traders as well as professional traders and investors.
Pros and Cons
PROS |
Client funds are kept in segregated accounts with top tier financial institutions |
Offers more than 9,400 financial instruments that can be traded through desktop, web, and mobile platforms |
Flexible account types are offered with negative balance protection |
Supports convenient funding options |
Multi-award-winning broker that is ideal for all types of traders |
Welcomes the use of a range of trading strategies and offers many trading opportunities |
CONS |
US clients are restricted from service |
Fixed spreads are not offered |
EU clients have limited maximum leverage of 1:30 |
|
Dukascopy
Features
Established in 2004, Dukascopy is a Swiss-based STP and ECN broker that welcomes traders from around the world, including South Africa. Dukascopy is a versatile and trusted forex and CFD trading broker and a licensed bank and financial institution.
Dukascopy offers more than 600 trading instruments that are spread across asset classes. These can be traded through the JForex and MetaTrader forex trading platforms using competitive trading conditions.
Pros and Cons
PROS |
Offers multiple advanced trading tools |
Perfect broker for professional traders |
Offers comprehensive investor protection |
Offers multi-base currency accounts |
Offers expert news and comprehensive analysis |
International broker with a high level of trustworthiness |
CONS |
High commission fees charged |
Restricted maximum leverage |
US clients are not accepted |
Withdrawal fees are applied |
InstaForex
Features
Established in 2007, InstaForex is a multi-regulated and multi-asset online forex broker. InstaForex has won several industry awards for excellent trading platforms and overall services. The broker offers more than 300 financial instruments that can be traded across several asset classes, using dynamic trading accounts.
There are also several trading opportunities, copy trading solutions, and versatile funding and withdrawal options.
Pros and Cons
PROS |
A low minimum deposit is required when South African residents register an account |
Offers commission-free trading |
There are educational materials offered |
Trading tools and comprehensive market analysis offered |
Intuitive trading platforms are offered |
Provides a range of tradable instruments |
CONS |
There is restricted maximum leverage of 1:30 for European Clients according to ESMA requirements |
US clients are not allowed to register |
Alpari
Features
Established in 1998, Alpari has grown to become a large and well-established forex broker with offices based in several regions globally. Alpari has more than 2 million registered forex traders from over 150 countries.
Alpari offers a range of forex and CFD instruments that can be traded using powerful forex trading platforms. Alpari offers instant execution, competitive spreads, and a choice between different flexible payment methods for deposits and withdrawals.
Pros and Cons
PROS |
Member of a compensation scheme |
Trading signals are offered |
PAMM accounts are provided |
Offers news resources from FxWirePro |
Multi-lingual and dedicated customer service offered |
Reputable broker that welcomes South African clients |
CONS |
Fixed spreads are not offered |
Lack of comprehensive education materials for beginner traders |
Clients from several regions such as the United States, Japan, Russia, and others are not accepted |
No FCA, ASIC, or CySEC regulation |
Exness
Features
Established in 2008, Exness is a multi-regulated forex and CFD trading broker that offers competitive trading conditions. South African traders can choose between flexible account options with the benefit that the minimum deposit requirement is low and there is a choice between funding options.
Traders can use powerful trading platforms through which they can carry out trading activities, fundamental analysis, technical analysis, and more. Traders also have access to powerful trading tools, educational resources, market analysis, an economic calendar, and valuable insight into market conditions, exchange rates, and news.
Pros and Cons
PROS |
Well-regulated by several entities |
High maximum leverage offered |
Powerful trading platforms offered in addition to innovative mobile trading apps |
Variety of tradable financial instruments |
Tight average spread that starts from 0.0 pips |
Provides flexible funding options |
CONS |
US clients are not allowed |
A limited selection of financial instruments offered |
FREQUENTLY ASKED QUESTIONS
Are there any forex brokers who accept Bitcoin?
Brokers from around the world accept different payment methods for deposits and withdrawals, with most that support wire transfer, debit or credit cards, electronic gateways, and crypto payments such as Bitcoin, Ethereum, Litecoin, and others.
How to pick a decent forex broker that accepts Crypto
Review the broker’s regulation status, account types offered, trading platform, trading conditions, and other components, including whether the broker accepts crypto payments.
Do I need a broker to buy Bitcoin?
No, you can purchase Bitcoin from trusted cryptocurrency exchange trading platforms such as Coinbase, Binance, and others.
Are all forex brokers licensed?
No, not all forex brokers are regulated, authorised, or licensed.
What is the difference between ECN and STP brokers and market makers?
ECN and STP brokers are intermediaries who facilitate trades between buyers and sellers. A market maker broker takes the opposite side of the trade and provides traders with liquidity on their trade.
Other Guides for South African Traders:
10 Best Forex Brokers in South Africa that accept Neteller
10 Best Forex Brokers in South Africa with Cent Accounts
5 Best Forex Brokers in South Africa that accept PayFast
8 Best Forex Brokers in South Africa that accept Zotapay
3 Best Forex Brokers that accept PayGuru