11 Best Forex Brokers in South Africa with High Leverage
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.
Pros and Cons
PROS |
Strict regulation |
High leverage up to 1:500 |
Supports MetaTrader 4 |
Educational resources offered |

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.
Pros and Cons
PROS |
Trade with up to 1:1000 leverage for retail traders |
Professional traders in South Africa have up to 1:3000 leverage |
Provides MetaTrader 4 and MetaTrader 5 |
Suitable for beginner traders and professionals |
Well-regulated and trusted |
Loyalty program offered |
CONS |
Neither debit cards nor credit cards supported as payment options |
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.
Pros and Cons
PROS |
Ultra-low minimum deposit of $1 |
User-friendly trading platforms |
Wide range of financial instruments |
Trading tools and educational materials offered |
Demo accounts provided |
Dedicated customer service |
CONS |
High spreads on the Cent accounts |
Inactivity fees charged |
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.
Pros and Cons
PROS |
Well-regulated forex broker |
More than 55 currency pairs |
Supports MetaTrader |
Supports social trading |
Accepts a wide range of trading strategies |
Advanced trading tools and education offered |
CONS |
High inactivity fee |
Spreads are not the tightest |
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.
Pros and Cons
PROS |
Tight spreads from 0.6 pips EUR/USD |
Offers ZAR Accounts to traders in South Africa |
Provides maximum leverage up to 1:400 |
Accounts have negative balance protection applied |
Supports the use of MetaTrader 4 |
Well-regulated by the Financial Sector Conduct Authority in South Africa |
CONS |
A limited selection of forex pairs that can be traded |
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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.
Pros and Cons
PROS |
Access to a wide range of tradable instruments |
Supports Metatrader and NinjaTrader |
Provides a pivot points analysis and several research reports |
Economic calendar provided |
Well-regulated forex broker |
Execution scorecard |
CONS |
The platform may be too complex for beginner traders |
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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.

Pros and Cons
PROS |
Adequate leverage ratio offered to traders in South Africa |
Supports both MetaTrader 4 and MetaTrader 5 |
Automated copy trading supported |
Spread-free ECN accounts offered |
Well-regulated |
Competitive trading conditions |
CONS |
High minimum deposit requirement |
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.
Pros and Cons
PROS |
Beginner-friendly trading platform |
Advanced trading platform |
Mobile trading offered through the Plus500 proprietary trading platform |
Technical analysis tools offered |
Well-regulated |
24/7 customer support |
CONS |
Inactivity fees charged |
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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.
Pros and Cons
PROS |
Tight variable spreads |
No inactivity fees |
Trade assistant module provided |
High maximum leverage offered |
Algorithmic trading supported |
Well-regulated |
CONS |
Dynamic leverage model, which means that leverage can change |
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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.
Pros and Cons
PROS |
Offers high maximum leverage |
Supports forex trading signals |
Trading bonuses offered |
Automated copy-trading through ZuluTrade |
Well-regulated |
Competitive trading conditions |
CONS |
The social trading network is not robust |
High minimum deposit requirement |
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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.
Pros and Cons
PROS |
Global broker with strict regulation |
Negative balance protection offered |
Supports MetaTrader 4 and 5 |
High maximum leverage ratio |
Demo account provided |
Islamic accounts available |
Suited to all types of traders |
CONS |
Accounts are not multi-currency |
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FREQUENTLY ASKED QUESTIONS
Is there a cap on leverage for South Africa forex brokers?
No, there is currently no cap on leverage for South African forex brokers. However, some brokers have a cap on leverage for retail/professional traders.
Should I use a ZAR broker to trade forex in South Africa?
If possible, it is recommended to use a broker that offers ZAR accounts to avoid currency conversion fees.
Who regulates forex brokers in South Africa?
The Financial Sector Conduct Authority (FSCA) regulates forex trading in South Africa.
How much leverage can I use when I trade forex in South Africa?
There is no cap on leverage that you can use in South Africa, but it will depend on the amount of leverage that the broker offers.
Is using leverage risky?
Yes, leverage can expose you to many opportunities to earn great profits, but it also exposes you to an equal amount of risk.