Best Forex Brokers South Africa with Low Deposit 2026

Last reviewed:January 15, 2026

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By:James Wilson

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Fact-checked by:Edith Balazs

Top 5 Low Deposit Forex Brokers for South African Traders

For South African traders, cost-effective entry involves low minimum deposits and avoiding currency conversion fees. We've selected FSCA-regulated brokers with ZAR base accounts offering deposits as low as R70-R170 ($5-$10), accepting Instant EFT, Ozow, and Capitec Pay.

What is the minimum deposit for forex trading in South Africa?

The minimum deposit can be as low as R70 ($5) with brokers like HFM and XM. Most standard accounts require R1,800 ($100).

Entry Requirements

Minimums to start trading.

Broker
HFM	R70	N/A
Exness	R190	N/A
XM	R70	N/A
AvaTrade	R1,800	N/A
Tickmill	R1,800	N/A

Detailed Broker Analysis

HFM

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Recommended

Start with R70 + ZAR account.

4.3/5App Score

HFM offers an ultra-low R70 minimum deposit with ZAR base currency accounts. Fully FSCA regulated and supports instant EFT/Ozow.

Forex spread classUltra-Low

Minimum depositR70

Inactivity fee$5/mo

Currency pairs53

Deposit methodsEFT, Ozow, Capitec Pay

Withdrawal feeR0

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Exness

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Recommended

Zero minimum + Instant Withdrawals.

4.6/5App Score

Exness requires a low ~$10 (R190) deposit to start. Known for instant withdrawals and unlimited leverage.

Forex spread classUltra-Low

Minimum depositR190

Inactivity feeR0

Currency pairs107

Deposit methodsEFT, Ozow, Bank Transfer

Withdrawal feeR0

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XM

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Recommended

Low deposit with bonus.

4.5/5App Score

XM allows you to start with just $5 (approx R90). Reliable ZAR accounts and excellent education.

Forex spread classLow

Minimum depositR70

Inactivity fee$5/mo

Currency pairs55

Deposit methodsEFT, Bank Transfer

Withdrawal feeR0

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Tickmill

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Recommended

Low commission & ZAR account.

4.2/5App Score

Tickmill offers competitive spreads and a ZAR account option. A solid choice for traders looking for low trading costs.

Forex spread classTight

Minimum depositR1,800

Inactivity feeR0

Currency pairs62

Deposit methodsEFT, Ozow

Withdrawal feeR0

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AvaTrade

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Recommended

Fixed spreads & great app.

4.8/5App Score

AvaTrade provides fixed spreads which can be advantageous in volatile markets. Their AvaTradeGO app is highly rated.

Forex spread classStandard

Minimum depositR1,800

Inactivity fee$50/3mo

Currency pairs55+

Deposit methodsEFT, Credit Card

Withdrawal feeR0

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Frequently Asked Questions

The minimum deposit can be as low as R70 ($5) with brokers like HFM and XM. Most standard accounts require R1,800 ($100).

A ZAR account is highly recommended to avoid currency conversion fees (which can be 2-3%) when depositing and withdrawing to your SA bank account.

HFM, Exness, and Tickmill all accept Ozow and Instant EFT. This allows for instant deposits directly from your Capitec, FNB, Absa, or Standard Bank app.

No, forex trading profits are taxable in South Africa. You must declare them to SARS. They may be taxed as income or capital gains depending on your trading activity.

Yes, our top recommended low deposit brokers like HFM, Tickmill, and AvaTrade are regulated by the FSCA (Financial Sector Conduct Authority) in South Africa.

Yes! With HFM or XM, you can start trading with R100 or less. However, we recommend starting with at least R1,000-2,000 to manage risk effectively.

Why Trust BrokerAnalysis?

Our reviews are built using verified broker data, regulatory records, and hands-on testing. Rankings are updated regularly and are not influenced by paid placements.

Our Methodology Meet Our Team

Risk Warning: Forex and CFD trading involves significant risk of loss and may not be suitable for all investors. You could lose more than your initial investment. 68-80% of retail investor accounts lose money when trading CFDs with most providers. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.

Not Financial Advice:

Information on this website is for educational and comparison purposes only. This does not constitute financial, investment, or trading advice. How we rank brokers →

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BrokerAnalysis may earn commissions from partners listed. This does not influence our rankings or analysis, which are based on our independent methodology.

Regional Availability Notice

Broker availability depends on your country of residence. Some brokers may not accept clients from certain jurisdictions including the USA, Canada, Japan, and others. The comparison table on this page shows country acceptance status. Please verify availability with the broker directly before proceeding.

Independent Analysis

Rankings based on verified data and hands-on testing. See our methodology →

Data Verified

January 2026

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Top 5 Low Deposit Forex Brokers for South African Traders