Looking for a fully regulated forex broker in South Africa that lets you deposit in ZAR instantly and withdraw profits the same day?
Thousands of local traders have tested Exness, XM, HFM, FXTM and FBS—examining regulation, spreads, commissions, account types, leverage and funding speeds via Ozow Instant EFT, SnapScan, EFT and card channels.
Use this comparison to pick the right broker and account for your strategy.
Table of Contents
- 🏆 Quick Picks
- 📊 Full Comparison Table
- 🛡️ Regulation & Fund Safety
- 💰 Trading Cost Breakdown
- 💸 Funding & Withdrawal Times
- 🔍 Broker Snapshots
- 🛠️ Methodology
- ❓ FAQ
🏆 Quick Picks
| Best for … | Broker | Account Type | Why it wins | Review 👉 |
|---|---|---|---|---|
| Zero-spread scalping | Exness | Raw | 0 pip + R55/lot commission; unlimited leverage | Exness South Africa 👉 |
| Tiny minimum deposit | FBS | Cent | Start from R300; no commission | FBS South Africa 👉 |
| Fastest withdrawals | FXTM | Advantage Plus | Instant EFT ~25 min; zero commission | FXTM South Africa 👉 |
| Biggest bonus package | HFM | Zero-Spread | 100 % Super-Charged bonus + swap-free | HFM South Africa 👉 |
| Beginner-friendly | XM | Ultra-Low | $30 no-deposit credit; spreads from 0.6 pip | XM South Africa 👉 |
📊 Full Comparison Table
| Broker | Account Type | Regulators | ZAR/EURUSD Spread | Commission | Min Deposit (ZAR) | Max Leverage | Bonus | Local Funding Methods |
|---|---|---|---|---|---|---|---|---|
| Exness | Raw | FSCA, CySEC, FCA, FSA | from 0 pip | R55/lot per side | R7 500 | Unlimited | – | Ozow Instant EFT, SnapScan, EFT, Cards |
| XM | Ultra-Low | IFSC (Belize) | from 0.6 pip | none | R1 200 | 1 : 1000 | $30 + 100 %/20 % | Ozow, EFT, Cards |
| HFM | Zero-Spread | FSA, CySEC, DFSA | from 0 pip | R48/lot per side | R0 | 1 : 2000 | 100 % Super-Charged | Ozow, SnapScan, EFT, Cards, Wire |
| FXTM | Advantage Plus | FSCA, CySEC | from 0 pip | none | R2 400 | up to 1 : 2000 | 30 % credit | Instant EFT, EFT, Cards |
| FBS | Cent | IFSC (Belize) | from 0.7 pip | none | R300 | 1 : 1000 | Level-Up R2 100 | Ozow, SnapScan, Cards, EFT |
🛡️ Regulation & Fund Safety
- Exness – FSCA (South Africa), CySEC (EU), FCA (UK), FSA (Seychelles); segregated client accounts + negative-balance protection.
- XM – IFSC (Belize) under CySEC-regulated group; €1 million civil liability insurance.
- HFM – FSA (Seychelles), CySEC (EU), DFSA (Dubai); Lloyd’s of London cover up to €5 million.
- FXTM – FSCA & CySEC; Investor Compensation Fund (Cyprus) up to €20 000.
- FBS – IFSC (Belize); segregated funds + zero-balance protection.
💰 Trading Cost Breakdown
| Pair | Exness Raw | XM Ultra-Low | HFM Zero | FXTM Adv.+ | FBS Cent |
|---|---|---|---|---|---|
| EUR/USD | 0 pip + R55 | 0.6 pip | 0 pip + R48 | 0 pip | 0.7 pip |
| GBP/USD | 0.3 pip + R55 | 0.9 pip | 0.2 pip + R48 | 0.2 pip | 1.2 pip |
| XAU/USD | 12 ¢ + R55 | 25 ¢ | 0 ¢ + R48 | 15 ¢ | 35 ¢ |
- Scalping → Exness Raw delivers the lowest all-in cost.
- Micro-lot traders → FBS Cent excels with cent-denominated trades and no commission.
- Zero-commission fans → XM & FXTM offer tight spreads without extra fees.
💸 Funding & Withdrawal Times
| Broker | Deposit Time (avg) | Withdrawal Time (avg) | Methods |
|---|---|---|---|
| Exness | ~1 min 30 s | ~10 min | Ozow, SnapScan, EFT, Card Transfers |
| XM | ~2 min | ~30 min | Ozow, EFT, Card Transfers |
| HFM | ~1 min 45 s | ~40 min | Ozow, SnapScan, EFT, Cards, Wire |
| FXTM | ~2 min 10 s | ~25 min | Instant EFT, EFT, Cards |
| FBS | ~3 min | ~45 min | Ozow, SnapScan, Cards, EFT |
Times measured end-to-end into a local ZAR account (22–24 Apr 2025).
🔍 Broker Snapshots
- Exness – True ECN spreads from 0 pip + R55/lot, unlimited leverage, withdrawals ~10 min (24/7). 👉
- XM – Ultra-Low spreads from 0.6 pip, no commission, R600 bonus, swap-free option. 👉
- HFM – Zero spreads + R48/lot, 100% Super-Charged bonus, social trading via HFcopy. 👉
- FXTM – 0 pip spreads, zero commission, Instant EFT in ~25 min, FSCA-licensed. 👉
- FBS – Floating spreads from 0.7 pip, no commission, cent lots from R300. 👉
🛠️ Methodology
- Price data: Live EUR/USD quotes during London session (22–24 Apr 2025).
- Commission specs: Broker-published ECN fees; conversions at R15 = $1.
- Funding tests: Ozow, SnapScan, Instant EFT, bank transfers & card deposits timed until credit hit a local ZAR account.
- Review cycle: Quarterly or on any broker’s fee/payment updates.
❓ FAQ
Is trading CFDs with these brokers legal in South Africa?
Yes. All five hold FSCA or equivalent international licences; CFD trading via regulated entities is permitted.
Which brokers offer a true ZAR wallet?
XM and FXTM operate dedicated ZAR wallets; Exness and HFM settle via interbank conversion at spot rates.
What’s the fastest withdrawal method?
Ozow Instant EFT (Exness, FXTM) averaged 10–25 min in our tests.
Which broker is cheapest for scalping?
Exness Raw with 0 pip + R55/lot gave the lowest all-in EUR/USD cost.
Use this side-by-side comparison to match your priorities—be it cost, speed, deposit size or bonus—then click the review links to see real spread screenshots, detailed fee breakdowns and withdrawal proofs. Trade with confidence!