As one of the most developed nations in Africa, South Africa is a regional hotspot for forex brokers, with a large number of brokers registered in the country. South Africa also has a growing and very active forex trader community.
Forex brokers in South Africa are overseen by the country’s Financial Services Board (FSB) and the Financial Sector Conduct Authority (FSCA), but it is known that some brokers also operate in the country without oversight. We recommend you only trade with fully regulated forex brokers in South Africa.
South African forex brokers face relatively few limitations from the financial regulators. This means that leverage and other trading conditions can vary greatly between different forex brokers in the country.