Best Brokers With ZAR Accounts 2025
Dig into our top brokers offering ZAR accounts, based on thorough tests, reducing conversion fees and optimizing the experience for traders in South Africa.
WriterJames Barra
Fact CheckerTobias Robinson
Brokers With:
South African Rand (ZAR)
Showing top 5 of 11 matching brokers.
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1Founded in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage offering trading on over 1,200 instruments, including binary options. It provides various accounts (JForex, MT4/5, Binary Options) and advanced platforms (JForex, MT4/MT5) with strong tools and market data for active traders.
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2Established in 2008, Exness is a respected broker known for offering over 40 account currencies, a wide choice of CFD instruments, and an intuitive web platform with features like currency converters and trading calculators.
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3Trade Nation is a leading foreign exchange and contract for difference broker regulated in various areas including the UK and Australia. This company provides affordable fixed and variable spreads on over 1000 assets and strong trading platforms and educational resources. Traders could use the Signal Centre for trading ideas.
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4BlackBull, based in New Zealand, is a CFD broker offering trading on over 26,000 instruments. After a 2023 rebrand, it now features a modern design with advanced trading tools and execution speeds averaging 20ms.
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5Founded in 2001, easyMarkets is known as a reliable fixed spread broker. Over the years, it has improved its tools, such as adding the MetaTrader suite and TradingView, and enhanced its unique risk management tools like dealCancellation, distinguishing it from competitors.
Compare Brokers With ZAR Accounts
| Broker |  |
Payment Methods |
|---|---|---|
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Apple Pay, Bitcoin Payments, Credit Card, Debit Card, Ethereum Payments, Maestro, Mastercard, Neteller, Skrill, Visa, Wire Transfer | |
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Airtel, AstroPay, Bitcoin Payments, Boleto, Cashu, Credit Card, Debit Card, FasaPay, M-Pesa, Mastercard, Neteller, Perfect Money, Skrill, Sticpay, Visa, WebMoney, Wire Transfer | |
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Credit Card, Debit Card, Mastercard, PayPal, Skrill, Visa, Wire Transfer | |
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Airtm, Bitcoin Payments, Boleto, Credit Card, Debit Card, Ethereum Payments, FasaPay, Mastercard, Neteller, Skrill, UnionPay, Visa, Wire Transfer | |
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AstroPay, Bitcoin Payments, Credit Card, Debit Card, Ethereum Payments, Mastercard, Perfect Money, Sticpay, UnionPay, Visa, WebMoney, Wire Transfer | |
| Broker | |
Payment Methods |
Broker Details Comparison
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Assets |
Platforms |
|---|---|---|---|---|---|---|
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✓ | $100 | 0.01 Lots | 1:200 | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options | JForex, MT4, MT5 |
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✓ | $10 | 0.01 Lots | 1:Unlimited | CFDs, Forex, Stocks, Indices, Commodities, Crypto | Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral |
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✓ | $0 | 0.1 Lots | 1:500 (entity dependent) | Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Spread Betting, Cryptos (Bahamas Entity Only) | MT4 |
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✓ | $0 | 0.01 Lots | 1:500 | CFDs, Stocks, Indices, Commodities, Futures, Crypto | BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist |
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✓ | $25 | 0.01 lots | 1:2000 1:30 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | easyMarkets App, Web Platform, MT4, MT5, TradingView, TradingCentral |
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Assets |
Platforms |
Safety Comparison
Compare how safe the Best Brokers With ZAR Accounts 2025 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✗ | ✓ | ✓ | |
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✓ | ✓ | ✓ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best Brokers With ZAR Accounts 2025.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best Brokers With ZAR Accounts 2025 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $100 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $10 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $0 | 0.1 Lots | ✗ | ✗ | ||
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✓ | $0 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $25 | 0.01 lots | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best Brokers With ZAR Accounts 2025 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Yes (EAs & FIX APIs) | ✗ | ✓ | ✗ | ✗ | 1:200 | ✗ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | ✗ | ✓ | 1:Unlimited | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | ✗ | ✗ | 1:500 (entity dependent) | ✗ | ✗ |
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Expert Advisors (EAs) on MetaTrader, cTrader Automate | ✓ | ✓ | ✗ | ✗ | 1:500 | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | ✗ | ✗ | 1:2000 1:30 | ✗ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best Brokers With ZAR Accounts 2025.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
|---|---|---|---|---|---|---|---|---|---|
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✓ | ✗ | ✓ | ✗ | ✗ | ✓ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ |
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✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✓ | ✗ | ✗ |
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✓ | ✗ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best Brokers With ZAR Accounts 2025 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best Brokers With ZAR Accounts 2025.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✗ | CHF 100 | 0.1 | 0.1 | 0.1 | |
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✗ | $0 | 0.5 (Apple Inc.) | 0.0 | Floating | |
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✓ | $0 | Variable | Variable | Fixed | |
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✗ | $0 | Variable | 0.3 | 245 | |
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✓ | $25 | 0.25 (Apple) | 0.7 | 62 (BTC) | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best Brokers With ZAR Accounts 2025 are in terms of number of clients.
| Broker | Popularity |
|---|---|
| Exness |
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| Dukascopy |
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| easyMarkets |
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Why Trade With Dukascopy?
If you're an experienced trader, Dukascopy offers the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the assurance of a Swiss-regulated bank and broker.
Pros
- Dukascopy provides tight spreads starting at 0.1 pips, leverage up to 1:200 (based on jurisdiction), and volume-based commissions that benefit high-frequency traders.
- The proprietary JForex platform is advanced, offering tools for algorithmic trading, detailed charting, and access to deep liquidity for traders.
- Dukascopy offers top-notch research, including a professional TV studio in Geneva for financial news, market analysis, and daily expert insights.
Cons
- Dukascopy's withdrawal fees are higher than most competitors we've tested, especially for bank wire transfers, which may discourage traders who need frequent fund access.
- Dukascopy offers educational resources and 24/7 support, but its complex platforms and tools require extensive testing and can overwhelm new traders.
- Certain account types, like MT4/MT5 accounts, need a higher minimum deposit of $1,000. This might not be suitable for traders with limited budgets.
Why Trade With Exness?
Exness is an excellent choice for active forex traders aiming to reduce costs after lowering spreads, enhancing execution speeds, and offering trading on over 100 currency pairs with more than 40 account currencies.
Pros
- Exness was the first brokerage to reach monthly trading volumes of $1 trillion and $2 trillion, demonstrating its credibility.
- Fast and reliable 24/7 multilingual customer support through phone, email, and live chat, validated by practical tests.
- Exness Terminal provides an easy experience for beginners with interactive charts, and creating watchlists is simple.
Cons
- Exness has increased its variety of CFDs and introduced a copy trading feature, but it still lacks real assets like ETFs, cryptocurrencies, or bonds.
- Besides a mediocre blog, educational resources are lacking, especially compared to category leaders like IG, which offer a more comprehensive trading journey for new traders.
- MetaTrader 4 and 5 are supported, but TradingView and cTrader are not available yet, despite increasing demand from traders and their integration with other platforms like Pepperstone.
Why Trade With Trade Nation?
Trade Nation is a suitable platform for new traders, offering diverse financial markets in a user-friendly environment. It has no minimum deposit requirement, provides free funding options, and robust educational resources.
Pros
- The brand offers a variety of trading platforms and apps, like MT4, suitable for skilled traders.
- Trade a variety of investments using leveraged CFDs for buying and selling opportunities.
- The trading company provides narrow spreads and clear pricing.
Cons
- Lower legal safeguards with overseas businesses.
Go to Trade Nation
67.3% of retail investor accounts lose money when trading CFDs with this provider. 84% of retail investor accounts lose money when trading CFDs with this provider.
Why Trade With BlackBull?
After upgrading its trading infrastructure with Equinix servers in New York, London, and Tokyo to reduce latency for traders, BlackBull is a top choice for trading stock CFDs with ECN pricing.
Pros
- BlackBull offers three ECN-powered accounts—Standard, Prime, and Institutional—catering to beginners, experienced traders, and professionals with flexibility for trading needs and capital requirements.
- BlackBulls’s research is excellent, particularly the daily ‘Trading Opportunities’ articles, which make complex market movements easy to understand and help traders capitalize on new trends.
- BlackBull provides key features for traders: execution speeds under 100ms, leverage up to 1:500, and tight spreads starting at 0.0 pips.
Cons
- Despite having over 26,000 assets, including new Asia Pacific indices, the selection primarily consists of stocks, with an average range of currency pairs and indices.
- The Education Hub now includes webinars and tutorials, but the courses still need to better explain the broader economic factors that affect prices.
- BlackBull doesn't have its own platform and uses MetaTrader, cTrader, and TradingView. Though these are excellent, other brokers' platforms, like eToro’s, often offer unique features for beginner traders.
Why Trade With easyMarkets?
easyMarkets offers fixed spreads starting at 0.7 pips, making it ideal for beginners needing predictable costs. With a Bitcoin-based account, it's also a great choice for crypto traders wanting to deposit, trade, and withdraw in digital currencies.
Pros
- Unlike variable spreads offered by most brokers we've tested, easyMarkets offers fixed spreads from 0.7 pips. This makes trading costs predictable, benefiting beginners and those trading in volatile markets.
- easyMarkets introduced Bitcoin as a base currency in 2019, standing out in the market. This removes the need to convert crypto to fiat, lowering fees and simplifying management for crypto-focused traders.
- easyMarkets prioritizes risk management with negative balance protection, guaranteed stop losses, and dealCancellation (updated in 2024 to cover 1, 3, or 6-hour periods) in the Web Trader.
Cons
- easyMarkets lags as it lacks the copy trading features offered by category leader eToro. These features are popular among newcomers wanting to follow the strategies of experienced traders.
- easyMarkets offers comprehensive educational resources for beginners but does not meet advanced traders' needs. The Academy includes well-organized courses and engaging gamification, but the content is not detailed enough.
- easyMarkets does not provide a zero-spread account like Pepperstone. This can be a disadvantage for traders and high-frequency traders who need low transaction costs.
Go to easyMarkets
67% of retail accounts lose money with this provider.
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Methodology
To identify the best brokers offering ZAR-denominated accounts, we analyzed our extensive database of hundreds of online brokers worldwide.
We focused on platforms that allow clients to deposit, withdraw, and trade in South African Rand (ZAR).
Rankings were then based on an evaluation of over 200 factors, including fees, ease of use, platform features, market access, and regulatory compliance. Feedback from our hands-on testers further informed our ratings.
What Is a ZAR Account?
A ZAR account is a trading account where all transactions, profits, and losses are recorded in South African Rand.
These accounts are particularly advantageous for South African residents or traders whose financial operations revolve around ZAR.
By eliminating the need to convert currencies, ZAR accounts streamline the trading process for those focused on local markets or ZAR-denominated assets.
Benefits of a ZAR account:
- Eliminates Currency Conversion Costs: A ZAR account can spare traders the expenses of converting deposits or withdrawals into foreign currencies like USD or EUR, which is especially useful when funding accounts or repatriating profits.
- Localized Transactions: South African traders can often use familiar payment methods like debit cards, or services such as Ozow and PayFast for seamless deposits and withdrawals in ZAR.
- Hedging Against Currency Volatility: For traders whose income, expenses, or investments are denominated in ZAR, this account reduces exposure to the risks associated with fluctuating exchange rates.
- Access to Local Markets: In our experience, ZAR accounts often provide a direct path to trade on the Johannesburg Stock Exchange (JSE) or invest in South African ETFs or local commodities.
- Regulatory Alignment: Some brokers offering ZAR accounts are also regulated by the Financial Sector Conduct Authority (FSCA), ensuring greater security and trust for South African traders.
How Do I Open a ZAR Account?
Opening a ZAR trading account is straightforward and typically follows these steps:
- Select a Broker: Opt for a brokerage that supports ZAR as a base currency and is regulated by the FSCA for added security if you’re in South Africa. For South African traders looking to diversify into global markets while maintaining a ZAR-denominated account, it’s important to choose brokers that offer competitive forex spreads for ZAR pairs (e.g., USD/ZAR or EUR/ZAR) and low fees for cross-border transactions.
- Register an Account: Complete the broker’s registration process, which requires identification (such as a South African ID or passport) and proof of residence (like a utility bill or bank statement).
- Select ZAR as Your Base Currency: During the account setup, choose ZAR as the primary currency for transactions and balances.
- Fund Your Account: Deposit funds in ZAR using local payment methods such as bank transfers, mobile payments, or online payment gateways.
- Start Trading: Once your account is funded, you can trade ZAR-denominated assets or explore global markets with fewer conversion-related costs.
To show you how easy it is, below is a ZAR trading account I opened at BlackBull in five minutes.
Configuring a ZAR trading account at BlackBull Markets
Should I Use a ZAR Trading Account?
A ZAR trading account is ideal if any of the following applies to you:
- You Live in South Africa: Trading in ZAR simplifies your financial operations, from deposits and withdrawals to tax reporting, aligning seamlessly with your local currency.
- You Trade ZAR-Denominated Assets: If you focus on JSE-listed stocks, South African government bonds, or ZAR-based ETFs, a ZAR account could help avoid conversion fees and delays.
- You Want to Avoid Currency Volatility: If your income or expenses are tied to ZAR, a ZAR account protects you from unfavorable exchange rate fluctuations.
- You Operate Within South Africa’s Economy: A ZAR account is well-suited for those investing locally or conducting business within South Africa’s borders.
What Are the Limitations of a ZAR Account?
- Exposure to ZAR-Related Risks: The South African Rand is a volatile currency, particularly during periods of political or economic instability. This can affect the value of holdings and trades when dealing internationally.
- Restricted Global Availability: ZAR accounts are primarily offered by brokers targeting South African clients. This limited availability may reduce options for traders seeking advanced platforms or niche markets.
- Conversion Costs for Foreign Trades: While ZAR accounts avoid local currency conversion fees, trading global assets priced in USD, EUR, or other currencies may still incur exchange rate fees.
- Local Economic Risks: A ZAR account ties your trading more closely to South Africa’s economic environment, which may be impacted by factors such as inflation, commodity prices, or credit rating downgrades.