Best CFD Brokers in South Africa 2024

CFD trading has become increasingly popular in recent years, and South Africa is no exception. CFD trading allows investors to speculate on the price movements of underlying assets without actually owning the asset itself. This makes CFD trading a more flexible and accessible option for many investors. When it comes to choosing a CFD broker, there are a number of factors to consider. With so many CFDs brokers now operating in South Africa, it can be difficult to know where to start. To help you make an informed decision, we've compiled a list of some of the best CFD brokers in the country.

What is the Best CFD Brokers in South Africa?

Finding a realiable CFD broker is really time consuming task. But don't worry! We have covered you. We have shortlisted 5 best CFD Brokers in South Africa for you.

Best CFD Brokers in South Africa

If you're looking for a great place to trade in South Africa, look no further than This online broker offers a wide variety of assets to trade, including Forex, CFDs, and cryptocurrencies. Plus, with its user-friendly platform and competitive fees, it's perfect for both beginner and experienced traders alike. So why not give a try today? You might just be surprised at how easy and enjoyable trading can be. logo

image credit:, operated by Finalto (South Africa) Pty Limited Regulated by Financial Sector Conduct Authority (FSCA). The broker is also regulated by FCA, ASIC, CySEC and FSA. Trading Platforms has a web-based version and as mobile apps for iPhone, iPad, and Android devices. The web-based platform is powered by's proprietary trading software, while the mobile trading apps are provided by third-party provider Sirix. Products offers a wide range of tradable assets including forex pairs, stocks, indices, commodities, and cryptocurrencies. Costs does not charge any commissions on trades. Instead, the company makes money from the spreads between the bid and ask prices of the assets being traded.

Spreads are variable and can be as low as 0.1 pips for major forex pairs during times of high liquidity. However, spreads tend to be higher during periods of low liquidity and can widen to as much as 3 pips. also charges inactivity fees of $10 per month after a 12-month period of account inactivity.

Read More: Best CFD Brokers in Kenya 2024 Customer Support customer support is available 24/7 through live chat, email, and telephone. The company's customer service team is multilingual and can be reached from over 30 countries.

In addition, has an extensive FAQ section on its website that covers a wide range of topics including account opening, funding, trading, and withdrawals.

Read Full Review of Pros and Cons


√ Segregated client funds

√ 24/7 customer support

√ Wide range of tradable assets

√ Tight spreads during periods of high liquidity


- Inactivity fees after 12 months of account inactivity

- Spreads can widen during periods of low liquidity

If you want to trade with, you can use the link  below:


BKFX is a forex and CFDs trading platform that offers users the ability to trade in various international currencies. The company is based in South Africa and provides access to the global financial markets.


image credit: BKFX

BKFX has been operational since 2006 and is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

BKFX Trading Platforms

The BKFX trading platform is available in both web-based and mobile versions. The web-based platform is designed for beginners and offers a simple interface with basic features. The mobile app is more advanced and includes all the features of the web-based platform, as well as additional tools and resources.

BKFX Products 

The platform caters to both retail and institutional investors and provides a variety of features and tools to help users make informed trading decisions. BKFX offers a wide range of currency pairs, including major, minor and exotic pairs. The company also offers CFD products, metals trading and access to the South African Rand (ZAR) market.


BKFX is a global online forex broker. It offers tight spreads and low commissions to its clients. The minimum deposit for a standard account is $200, and the leverage is up to 1:200.

For a VIP account, the minimum deposit is $20,000, and the leverage is up to 1:500.

The company also offers a free demo account with a virtual balance of $100,000.

BKFX Customer Support 

BKFX provides customer support 24 hours a day, 5 days a week. The company also has a dedicated team of market analysts who provide updates and analysis on the latest market developments.

Read Full Review of BKFX

BKFX Pros and Cons 


√ Tight spreads

√ Low commissions

√ Free demo account

√ No withdrawal fees 

√ 24/7 Withdrawal facility


- High minimum deposit for VIP account

If you want to trade with BKFX, you can use the link  below:


One of the most reliable CFD brokerages that operates in Indonesia can be found at Tickmill. They provide a variety of benefits and features, which includes a demo account, so you can try trading prior to putting real money into.

Tickmill logo

image credit: Tickmill

Tickmill is by the Financial Sector Conduct Authority (FSCA) in South Africa. The broker is also regulated by FCA, CySEC, FSA, and LFSA.

Tickmill Trading Platforms

The Tickmill trading platform is specifically designed to accommodate a range of different kinds of traders. Tickmill WebTrader is a Tickmill web Trader platform offers a straightforward and easy-to-use platform that is ideal for novices. Tickmill MetaTrader 4 and 5 are more sophisticated platforms that are perfect for traders with experience.

Tickmill also provides trading apps for mobile devices like iPhone, iPad, and Android devices.

Tickmill Products

Tickmill provides 60+ currency pairs, and provides 27 Stock indexes and oil. Tickmill also provides 8 crypto pairs including 4 bonds, and 3 metals for Malaysian traders. On the MT5 platform, Tickmill offers stock CFDs.

Tickmill has Classic, Pro, VIP, Islamic and Demo Accounts.

Tickmill Cost

The minimum amount for depositing classic and Pro accounts is $100. However, for VIP accounts, the minimum balance must be $50,000.

If you have a classic account there is no commission, and spreads start at 1.6 pip. For the Pro account, commission can be as high as $2 for a standard lot. For VIP account, the commission equals $1 for a standard lot. For both VIP and Pro accounts, spreads start at zero pip. Each type of account has an Islamic account options. Leverage to Forex trading is 1:500.

Both withdrawals and deposits are no cost. The minimum deposit amount is $100 , and the minimum amount for withdrawal is $25.

Tickmill Customer Support

Support for customers of Tickmill is available via live chat, email and by telephone. We found support via phone to be prompt and the responses to questions are relevant. The live chat feature of Tickmill is fairly fast.

Read Full Review of Tickmill

Tickmill Pros and Cons 


√ Support is prompt 24/7, multilingual and available.

√ Payment options are great.

√ Secure deposit and quick withdrawal.

√ Welcome account bonus

√ Low spread and high leverage.


- There is a limited selection of market options is accessible for trading.

If you want to trade with Tickmill, you can use the link  below:


Plus500 is our choice for the most reliable CFD broker to use for CFD trading. Plus500 is a top provider for Contracts to Difference (CFDs) that offer an array of financial instruments like shares, forex, indices commodities and much more. Plus500 operates through an online platform and requires no software installation. South Africa residents are welcome to trade with the company.


image credit: Plus500

Plus500 is licensed through Financial Sector Conduct Authority (FSCA) in South Africa. The broker is also regulated by CySEC, ASIC, FCA, MAS and FMA.

Plus500 Products

Plus500 provides a variety of financial instruments, including 60plus forex CFDs, shares commodities, indices and much many more. Plus500 also offers CFDs on popular cryptocurrency like Bitcoin, Ethereum and Litecoin.

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Plus500 Trading Platforms

Plus500 provides clients with access to their trading platform. It doesn't offer MetaTrader 4 (MT4) or MetaTrader 5. They also have mobile applications that allow traders trading at any moment and from any location.

Plus500 Costs

Plus500 doesn't charge commissions for trades. The broker earns profits by offering spreads on currencies. Spreads are the difference between the bid price and the ask price of a pair.

Accounts can be opened with a minimum deposit of $200. Plus500 offers a variety of trading platforms, including PC, iOS, Android, and Web Trader.

Plus500 Customer Support

Plus500 customer support is available to help customers with any issue or question may have. Support can be accessed by email, telephone, or online chat. Customers can also find helpful information on the company's website, including FAQs and a knowledge base.

Read Full Review of Plus500

Plus500 Pros and Cons


√ FSCA licensed broker

√ Offers a variety of financial instruments, including 2000+ CFDs

√ A user-friendly platform for trading

√ Excellent customer support


- It does not accept US clients from the US.

- There is no MetaTrader 4 or 5.

If you're interested in trading with Plus500 you can do this through the following link:


FXTM is a leading Forex broker, providing traders around the world with access to quality trading tools, education and customer service. This makes FXTM one of the best choices for Forex trading in South Africa, as they offer clients a reliable and user-friendly platform, along with plentiful resources to help them improve their trading skills. 

FXTM logo

image credit: FXTM

FXTM is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The broker is also regulated by CySEC, FCA and FSC.

FXTM Trading Platforms 

FXTM offers a range of trading platforms to suit individual needs and preferences. The most popular FXTM platform is the MetaTrader 4 (MT4) platform, which allows traders to access global markets from a single account. MT4 provides all the tools needed for advanced technical analysis, including charts, indicators, and Fibonacci tools. It also comes with an extensive library of pre-installed robots and strategies. Other FXTM platforms include the MetaTrader 5 (MT5) platform, the cTrader platform, and the WebTrader platform.

FXTM Products 

FXTM offers a range of products, including Forex CFDs, commodities, stocks, and indices. Our platforms are designed to provide you with an enjoyable trading experience, whether you're a beginner or an experienced trader. We also offer education and support services to help you make the most of your trading experience.

FXTM Costs 

FXTM offers competitive fees and commissions on all transactions. The broker provides a wide range of tradable assets, including Forex, commodities, indices, and stocks. FXTM also offers a variety of account types to suit the needs of every trader. These include standard accounts, ECN accounts, and Islamic accounts.

FXTM Customer Support 

FXTM is an international Forex broker with a customer service department that provides support in several languages. The company offers its services to traders in over 190 countries and maintains offices in five locations around the world. FXTM's customer support team is available 24 hours a day, seven days a week to provide assistance with account issues, software problems, trading questions, and more.

Read Full Review of FXTM 

FXTM Pros and Cons 


√ FXTM is a well-known and respected Forex broker.

√ FXTM offers competitive spreads.

√ Offers ECN Account


- FXTM is not regulated in the United States

- Have inactivity fees 

If you want to trade with FXTM, you can use the link  below:

Best CFD Brokers in South Africa 2024

How to Choose CFD Brokers in South Africa?

If you are looking to trade CFDs in South Africa, it is important to choose a broker that is regulated and reputable. Here are some tips to help you choose the right CFD broker for your needs:

Regulations: Check the regulation status of the broker. In South Africa, CFD brokers must be authorised by the Financial Sector Conduct Authority (FSCA). The FSCA is the financial regulator in South Africa and it protects consumers by ensuring that financial service providers are honest and fair.

Reputation: It is important to choose a broker that has a good reputation. Check online forums and review websites to get an idea of what other traders have experienced with the broker.

Spreads and Leverage: Make sure you understand the spreads and leverage offered by the broker. CFD trading usually involves high leverage, which can result in large losses if not used carefully.

Fees and commissions: Make sure you are aware of the fees and commissions charged by the broker. Some brokers charge high fees, which can eat into your profits.

Platforms and tools: Choose a broker that offers a trading platform and tools that suit your needs. For example, if you are a beginner, look for a broker that offers a user-friendly platform and educational resources.

Customer Service: Good customer service is essential when choosing a CFD broker. You should be able to get in touch with customer support easily and they should be able to help you with any problems you have.

These are just some of the things to consider when choosing a CFD broker in South Africa. Do your research and take your time to find a broker that is right for you.

Is CFD Trading Legal in South Africa?

Yes, CFD trading is legal in South Africa. The Financial Sector Conduct Authority (FSCA) is the financial regulator in South Africa and it has issued a warning about the risks involved in CFD trading. However, this does not mean that CFD trading is illegal. It is still possible to find reputable and regulated brokers that offer CFD trading in South Africa.

What Are the Risks of CFD Trading?

CFD trading is a risky investment and you can lose all of your capital if you don't trade carefully. Here are some of the risks involved in CFD trading:

Leverage: CFD trading usually involves high leverage, which means you can lose a lot of money if the market moves against you.

Volatility: The prices of CFDs can be very volatile, which means they can fluctuate rapidly. This makes it difficult to predict the market and you can easily lose money if you don't trade carefully.

Counterparty risk: When you trade CFDs, you are entering into a contract with the broker. This means that the broker is your counterparty and you are at risk of them defaulting on the contract.

Best CFD Brokers in South Africa 2024

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