11 Best Forex Brokers in South Africa with $100 Minimum Deposit
The foreign exchange market, or forex market, is inherently known for its liquidity because of the vast number of participants that trade currency pairs. This creates the perfect environment for forex brokers to offer reduced transaction costs which creates the perfect entry point for many beginner forex traders. Many forex brokers offer micro accounts, with a minimum deposit of $100 or less, allowing traders access to a wide range of currency pairs with low initial deposit requirements.
These forex brokers are also known for offering maximum leverage ratios of 1:100 and higher, allowing retail traders the chance to trade larger positions despite their low $100 minimum deposit.
South African forex traders who are looking for the best national and international forex brokers that offer a minimum deposit of $100 need not look further than the list below.
IFX Brokers
Features
Established in 2018 and headquartered in South Africa, IFX Brokers is one of the best South African online brokers known for its trust, transparency, and wide range of trading opportunities and options that it offers traders of all experience levels.
When trading with IFX Brokers, traders are subjected to a minimum deposit requirement of $100, allowing them access to a wide range of tradable instruments, competitive conditions, and some of the most reliable trading speed execution and a safe trading environment.
Pros and Cons
PROS |
Well-regulated by FSCA |
Low minimum deposit of $100 |
MetaTrader 4 offered |
Educational resources offered |
Advanced trading tools provided |
Wide range of tradable instruments |
Plus500
Features
Plus500 is an award-winning forex broker that offers an innovative proprietary trading platform and a wide range of tradable financial instruments to South African traders despite their trading experience.
Plus500 has low minimum deposit requirements of $100, allowing beginner and experienced traders to start trading forex with low capital. Plus500 supports a wide range of trading strategies and provides ideal market conditions, some of the lowest spreads, transparent trading costs, and a range of flexible payment methods.
Beginner traders are provided with demo accounts that they can use before they trade with real money and more experienced traders can expect trading tools, technical analysis, fundamental analysis, and a range of other tools and technical indicators to use to direct their investment decisions.
Pros and Cons
PROS |
Well-regulated by several entities including Financial Conduct Authority |
Commission-free trading offered |
Tight and variable spreads |
Choice in retail investor accounts and low initial deposit |
Withdrawal fees and deposit fees not charged |
Award-winning customer service |
Negative balance protection offered |
CONS |
Inactivity fee charged |
Fixed spreads not offered |
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AvaTrade
Features
AvaTrade is one of the most popular market makers in the industry, with a low minimum deposit requirement of $100, a wide range of tradable financial instruments spread across several financial markets, and a choice between different forex trading platforms and the use of an innovative mobile platform.
AvaTrade has transparent and competitive trading costs, with average spreads, commission-free trading, and a wide range of funding options. Beginner traders are provided with a choice between educational materials while all traders are given a safe regulatory framework, ensuring that all client funds are protected.
Pros and Cons
PROS |
Third-party and Proprietary platforms offered |
Range of forex trading apps |
Fixed and tight spread |
Social trading supported |
Zero fees for deposits or withdrawals |
CONS |
Only One trading account type offered |
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Markets.com
Features
Markets.com is one of the best market makers and STP brokers in the industry with regulation through the Financial Conduct Authority (FCA), Financial Sector Conduct Authority (FSCA), and several other market regulators.
Markets.com is known for its competitively tight spread, commission-free trading, and transparent solutions. Markets.com offers a wide range of tradable assets and it is praised as a broker for beginners as well as experienced traders.
Markets.com offers advanced trading solutions and some of the best trading tools that traders can use to evaluate market conditions and to help direct their trading decisions in an informed, strategic manner.
Pros and Cons
PROS |
Wide range of assets |
Advanced trading tools |
Negative balance protection offered |
Islamic Accounts |
Zero deposit fees or withdrawal fees |
Choice in retail investor accounts |
CONS |
Inactivity fee charged |
Blackstone Futures
Features
Blackstone Futures is an STP forex broker based in South Africa, with respective regulations through the Financial Sector Conduct Authority (FSCA). Blackstone Futures is affiliated with Trade Nation, a multinational broker regulated in several global regions.
Blackstone Futures is known for its sophisticated trading solutions, offering traders a wide range of tradable instruments including major currency pairs, CFDs, and several other complex instruments.
Blackstone Futures offers regulatory protection and a transparent fee structure with competitive trading and non-trading fees spread across spreads, commissions, rollover fees, and several others. Blackstone Futures also supports the use of common methods for deposits and withdrawals including bank transfers, and several others.
Pros and Cons
PROS |
Negative balance protection offered |
Wide range of tradable instruments |
Well-regulated |
Multiple advanced tools |
Dedicated customer support |
CONS |
Limited account types offered |
Cryptocurrency trading not supported |
FxPro
Features
FxPro is a well-regulated United Kingdom-based Non-Dealing Desk (NDD) forex broker that provides both fixed spreads and variable spreads, with ultra-low commission charges.
Traders can register a trading account with FxPro with a minimum deposit of $100, granting them access to global markets and powerful trading platforms through which trades can be executed.
FxPro also offers third-party market analysis and a range of educational materials that can be used by beginner traders as well as experienced traders. The trading tools that traders are offered can be used to track different market movements, with a variety of useful analysis options that allows traders to track and manage their trades more effectively.
Traders also have a range of deposit methods to choose from, including a bank transfer option, debit cards, credit cards, and several others.
Pros and Cons
PROS |
Well-regulated in several regions |
Multiple modern trading platforms offered |
Mobile apps offered |
Premium trading tools |
Expert analysis provided by Trading Central |
CONS |
Managed accounts not offered |
Social trading is not supported |
FOREX.com
Features
FOREX.com is one of the largest online trading brokers in the industry, providing traders from around the world with competitive trading conditions and advanced solutions.
With FOREX.com, traders can expect access to more than 4,500 financial instruments spread across several asset classes including forex pairs, shares, cryptocurrencies, indices, and several others.
FOREX.com has a proven record of consistently providing tight spreads, fast and reliable trade execution speeds, and low trading costs. FOREX.com also has an industry-leading trading infrastructure with user-friendly trading platforms, useful trading tools, educational resources, and dedicated customer support.
Pros and Cons
PROS |
Tight spreads, low commissions, and proven trade execution speed |
Commission-free trading offered |
Access is given to Trading Central |
Dedicated customer support |
Wide range of trading instruments |
CONS |
Inactivity fees are charged on dormant trading accounts |
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Skilling
Features
Skilling is a popular Cyprus-based ECN and STP broker that is well-regulated strict market regulators, providing competitive variable spreads and the use of powerful trading technology, all from $100 when traders register a trading account and deposit real money.
Skilling offers its proprietary trading platform that can be used to trade different asset classes while also offering MetaTrader 4 and cTrader as well. Skilling offers a choice in retail investor accounts for beginner traders as well as experienced traders, despite the trading strategies traders use.
Pros and Cons
PROS |
Well-regulated |
Choice in account types |
Flexible funding options supported |
More than 800 financial instruments offered |
Powerful trading platforms supported |
CONS |
Limited educational resources |
Not the lowest spreads |
easyMarkets
Features
easyMarkets is one of the most popular forex brokers in the world that welcomes traders from around the world. easyMarkets is well-established and has won several industry awards since its establishment in 2001.
With easyMarkets, traders can expect commission-free trading, a wide range of tradable instruments, and access to powerful reading platforms that can be used for market analysis, trading strategies, demo trading, and the fast and reliable execution of trades.
easyMarkets is one of the most trusted market maker brokers that has competitive rollover fees, spreads, and the benefit that administration fees are not charged.
Pros and Cons
PROS |
Fixed spreads charged |
Commission-free accounts offered |
Inside viewer |
Mobile app offered |
Well-regulated |
CONS |
Variable spreads not offered |
Inactivity fee charged |
Tickmill
Features
Tickmill is one of the most trusted STP forex brokers in the industry that caters for both beginner and advanced forex traders. Tickmill offers more than 80 trading instruments that can be traded, with tight spreads and competitive commissions through a choice in flexible trading accounts.
Traders are also given access to multiple trading platforms and a wide range of trading tools that can be used to direct trading decisions, evaluate exchange rates and market conditions, and more.
Pros and Cons
PROS |
Negative balance protection |
Multi-regulated |
Segregated client funds |
Commission-free trading accounts offered |
Access is given to VPS, AutoChartist, and FIX API |
CONS |
Fixed spreads not offered |
Limited education |
Cryptocurrency trading not supported |
FXPRIMUS
Features
FXPRIMUS is a popular and well-established Cyprus, Vanuatu, and South African forex broker that offers competitive and variable spreads to traders from around the world.
When registering an account with FXPRIMUS, traders are required to pay the $100 minimum deposit, granting them access to a wide range of tradable financial instruments spread across every available asset class.
FXPRIMUS uses the best trading technologies and provides reliable trade execution, flexible funding, and a wide range of useful trading tools and education for beginners.
Pros and Cons
PROS |
Commission-free trading offered |
Useful trading tools |
ECN Accounts offered |
Rapid and reliable trade execution speeds |
User-friendly trading platforms |
CONS |
Fixed spreads are not offered |
FREQUENTLY ASKED QUESTIONS
Which are the best forex brokers in South Africa?
The brokers on this list are some of the best forex brokers that offer their services to traders from around the world, including South Africa.
Can I start trading with small amounts of capital?
Yes, you can open a trading account and start trading with small amounts of capital.
How can I trade using a small amount of capital of $100 and less?
Typically you would have to use the leverage that your broker offers to open larger positions despite your initial capital.
Do brokers trade against you?
In the case of market makers, the forex broker will act as the counterparty to provide the liquidity that you need to execute trades.
Are all these brokers licensed?
Yes, the forex brokers on this list are regulated and licensed to provide trading solutions and services.