Best ECN Brokers in South Africa in 2024

Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

IC Markets Trading Company is a great broker for scalping enthusiasts, automated trading lovers, and beginner traders.

8.17

Your capital is at risk.
80% of retail investor accounts lose money when trading CFDs with this provider.

ForexTime is a progressive broker that actively uses innovative technologies to provide the best trading terms for traders, regardless of their trading experience. ForexTime fits both novice and experienced traders. The company provides its services in 150 countries and ensures full safety and security of its clients' funds because they are kept in segregated accounts.

7.58

Your capital is at risk.
You can lose your money.

Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.

7.32

Your capital is at risk.

Vantage Markets is a broker that is a real catch for traders who prefer ECN trading.

8.28

Your capital is at risk.
76.5% of retail accounts lose money when trading ᏟᖴᎠs with this provider.

FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.

Best ECN brokers in South Africa in 2024

	IC Markets	FXTM	Exness	Vantage Markets	FBS
Trading platform	MetaTrader 4, MetaTrader 5, TradingView and cTrader	MetaTrader 4, MetaTrader 5, FXTM Trader	MetaTrader 4/5 (desktop, web, and mobile), Exness Terminal (web), and Exness Trade App (mobile)	Vantage Markets app, МТ4 (desktop, mobile, web), МТ5 (desktop, mobile), WebTrader, ProTrader	MetaTrader 4, MetaTrader 5, FBS Trader
Min deposit	$200	$10	$10	$50	$1
Leverage	From 1:1 to 1:500	From 1:1 to 1:2000	From 1:1 to 1:2000	From 1:1 to 1:500	From 1:1 to 1:2000
Trust management	No	No	No	No	No
Accrual of % on the balance	0.00%	0.00%	0.00%	0.00%	0.00%
Spread	From 0.0 points	From 0.0 points	From 1.0 points	From 0.0 points	From 0.2 points
Level of margin call / stop out	100% / 50%	50% / 80%	No	100% / 50%	40% / 20%
Execution of orders	Market Execution	Market Execution, Instant Execution	Market Execution, Instant Execution	Market Execution	Market Execution
No deposit bonus	No	No	No	No	$5
Cent accounts	No	Yes	No	No	Yes

ECN is an electronic communication network which is used to process the trades of traders. There is no dealing, which is used by classical brokers. Such companies earn a profit exclusively from the fees paid by the traders. Therefore, they are directly interested in making sure that the client trades as long as possible and does not lose the deposit fast.

The ECN technology does not allow the broker to interfere with the process in any way. Traders work directly with the liquidity providers, i.e. the largest banks and financial institutions. Liquidity improvement is achieved through an increased number of trades, and not the trading volume. The spreads are floating on ECN accounts and they are better compared to classical brokers with dealing centers.

1
Best ECN broker in South Africa - IC Markets

IC Markets is a multi-regulated STP/ECN broker that offers trading of 2,250+ instruments on MetaTrader, TradingView and cTrader platforms. Currently, IC Markets provides its services to over 200,000 clients worldwide. The broker processes over 500,000 trades daily and its monthly trading volume is almost $1.4 trillion as of June 2024. It is regulated by CySEC, ASIC, and FSA. The broker was incorporated in 2007 and is constantly developing, improving, and adding new services and products.

👍 Advantages of trading with IC Markets for traders from South Africa:

•Availability of three licenses;

•Wide range of assets;

•Standard and ECN account types for trading on different platforms;

•Mobile apps for Android and iOS-based devices;

•Scalping, hedging, and algorithmic trading are allowed;

•Minimum delay when executing orders and ultra-fast market execution;

•Competitive trading fees;

•Wide choice of social trading and copy trading platforms;

•24/7 support via live chat;

•Demo accounts on MT4, MT5, and cTrader;

•Swap-free accounts are available for Muslim traders.

👎 Disadvantages of IC Markets for traders from South Africa:

•Education materials available on the website are not very informative or diverse;

•Rebates are available outside Australia and the European Economic Area;

•Not all clients are equally protected since compensation for investment is subject to the trader's country of residence.

IC Markets Commissions & Fees for traders from South Africa

The fees are the key source of income for ECN brokers. Before choosing a broker, it is important to evaluate the levels of commissions and fees, which the broker offers on different accounts, including ECN.

IC Markets Commissions and Fees in South Africa

Account type	Spread (minimum value)	Withdrawal commision
Standard	$6	Bank fees apply
Raw spread MT4/MT5	$0	Bank fees apply
Raw spread cTrader	$0	Bank fees apply
Islamic	$0	Bank fees apply

Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

2
Best ECN broker in South Africa - FXTM

Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission, 185/12), South African FSCA (Financial Sector Supervision Authority, 46614), UK FCA (Financial Conduct Authority, 777911), and FSC (Mauritius Financial Supervisory Commission, C113012295). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).

Over 2 million traders worldwide cooperate with ForexTime (FXTM). The minimum deposit on the Micro account is $10, which allows novice traders to master the basics of trading and study the operational principles of the Forex market with comfort and without large investments.

👍 Advantages of trading with FXTM for traders from South Africa:

•a wide range of trading accounts;

•a large number of training materials;

•the ability to use automated programs in trading.

•the minimum deposit is $10;

•the most popular trading platforms are MT4 and MT5;

•proprietary application for mobile trading is the FXTM Trader;

•the ultra-low spreads are from 0.0 pips;

•a huge choice of trading instruments is present;

•supervision of the broker’s activities is by major financial regulators in four jurisdictions;

•professional support.

👎 Disadvantages of FXTM for traders from South Africa:

•for investment, only copy trading is offered;

•the broker is closed on Saturday and Sunday.

FXTM Commissions & Fees for traders from South Africa

FXTM Commissions and Fees in South Africa

Account type	Spread (minimum value)	Withdrawal commision
Micro	From $15	Depends on the payment system
Advantage	From $0,4	Depends on the payment system
Advantage Plus	From $15	Depends on the payment system

Your capital is at risk.
80% of retail investor accounts lose money when trading CFDs with this provider.

3
Best ECN broker in South Africa - Exness

Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.

👍 Advantages of trading with Exness for traders from South Africa:

•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;

•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;

•Wide range of CFDs, including over 100 currency pairs;

•Zero deposit and withdrawal fees;

•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.

👎 Disadvantages of Exness for traders from South Africa:

•The broker’s website offers almost no educational materials;

•24/7 support isn’t available in all languages.

Exness Commissions & Fees for traders from South Africa

Exness Commissions and Fees in South Africa

Account type	Spread (minimum value)	Withdrawal commision
Standard Cent	$0.3	No
Standard	$3	No
Standard Plus	$10	No
Raw Spread	$0	No
Zero	$0	No
Pro	$1	No

Your capital is at risk.
You can lose your money.

4
Best ECN broker in South Africa - Vantage Markets

Vantage Markets is a multi-asset broker that has been operating since 2009. The company operates under the licenses of four regulators – the UK (FCA, 590299), Australia (ASIC, 428901), Vanuatu (VFSC, 700271), and South Africa (FSCA, 51268). Over the years, Vantage Markets has received numerous accolades and prestigious awards. Read more about Vantage Markets Available Countries.

👍 Advantages of trading with Vantage Markets for traders from South Africa:

•A vast array of trading instruments like 1000+ currency pairs and contracts for difference (CFDs).

•The broker has licenses from four reputable regulators.

•Classic trading terminals and a proprietary mobile application.

•An extensive array of trading signals to choose from for traders, regardless of the type of trading account.

👎 Disadvantages of Vantage Markets for traders from South Africa:

•Customers from most countries are forced to cooperate with a branch that has an offshore license.

•Limited training and a lack of information on Forex trading.

•Snail-paced withdrawal of funds with the requirement to comply with special conditions.

Vantage Markets Commissions & Fees for traders from South Africa

Vantage Markets Commissions and Fees in South Africa

Account type	Spread (minimum value)	Withdrawal commision
Standard STP	From $0	No
RAW ECN	From $3	No
Pro ECN	From $1.5	No
Swap Free	From $0	No

Your capital is at risk.

5
Best ECN broker in South Africa - FBS

FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.

👍 Advantages of trading with FBS for traders from South Africa:

•negative balance protection;

•a large selection of trading instruments;

•the support service works 24/7.

👎 Disadvantages of FBS for traders from South Africa:

•no cryptocurrency;

•auto copying is not available;

•no PAMM accounts;

•not suitable for short-term trading, such as scalping;

•the support service works in a limited number of languages;

•only two real accounts.

FBS Commissions & Fees for traders from South Africa

FBS Commissions and Fees in South Africa

Account type	Spread (minimum value)	Withdrawal commision
Standard	From $1.7	No
Cent	From $1.3	No

Your capital is at risk.
76.5% of retail accounts lose money when trading ᏟᖴᎠs with this provider.