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FXOpen in South Africa — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%35
- Round-turn cost20%100
- Safety20%0
- Payouts15%80
- Track record10%100
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Offshore FXOpen Markets Ltd
- Founded
- 2005
- Retail leverage
- 500ZA
- Round turn
- 1.5 USDZA
- Currencies
- USD, EUR, GBP, and others; dedicated ZAR base account not verified at review.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with FXOpenThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards South Africa residents
- Offshore FXOpen Markets Ltd
- Local standing
- Offshore-regulated only; no local FSCA authorisation. Nevis entity is a Financial Commission member (lower-tier).
- Licence as the register states it
- No FSCA licence. Global group holds FCA UK (579202) and CySEC (194/13); SA clients fall under offshore Nevis arm.
- Leverage for this entity
- Up to 1:500 (TickTrader up to 1:1000 on FX/metals) for offshore clients.
- The firm behind it
- Founded 2005; London UK origin with UK/EU/offshore entities; ECN pioneer.
- What we hold against it
- ASIC cancelled FXOpen AU AFS licence Sep 2024 over supervision concerns; SA served via offshore Nevis arm with weaker protection.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore-regulated only; no local FSCA authorisation. Nevis entity is a Financial Commission member (lower-tier).
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against South Africa market median(priced from 80 of 103)
Medians run over the 80 of 103 brokers that publish a price for South Africa, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Micro/cent (from USD 1), STP, ECN (from USD 100 intl), Crypto (from USD 10). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where FXOpen sits in the South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · this broker 1.5 USD · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · this broker 1 USD · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · this broker 1:500 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (5 methods · 0 local rails)
Cards, bank wire, Skrill, Neteller, BTC, USDT;
- Cards
- Bank wire
- Skrill
- Neteller
- USDT
- Account currency
- USD, EUR, GBP, and others; dedicated ZAR base account not verified at review.
- Fee declared
- 5 of 5 methods
- Withdrawal back to
- the funding method
Where it does not serve(3 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(4 platforms)
- MT4
- MT5
- TickTrader
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 1.1 |
| MT5 | — | 1.1 |
| TickTrader | — | 1.1 |
| All instruments | 700+ | — |
184 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: IC Markets Raw Spread MT4/MT5, IC Markets Raw Spread cTrader, Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard and 178 more.
Identical for every row: Leverage 500 ZA.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 3.7 | — |
Share of reviewers in South Africa: — The platform does not publish it.
Pros and cons(6 for and 4 against, each tied to a figure on this page)
- Round turn 1.5 USD on the raw + commission basis, under the South Africa median 7
- Min deposit 1 USD, under the South Africa median 50
- Withdrawal in 24 h, one of 86 of 103 brokers here that publish a time
- Swap-free account available
- Round-turn cost 100 of 100, its strongest of 6 scored axes
- 3 platforms: MT4, MT5, TickTrader
- No South Africa authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- The published 1:500 comes from the group's offshore entity, not from the South Africa one
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 2ZA
- Min deposit, USD
- 10 groupZA
- Leverage
- 400ZA
- Rank in this country
- #68
- Round turn, USD
- 3ZA
- Min deposit, USD
- 10 groupZA
- Leverage
- 500ZA
- Rank in this country
- #36
- Round turn, USD
- 5ZA
- Min deposit, USD
- 10ZA
- Leverage
- 500ZA
- Rank in this country
- #17
- Round turn, USD
- 4.2ZA
- Min deposit, USD
- 0 groupZA
- Leverage
- 200ZA
- Rank in this country
- #23
- Round turn, USD
- 7ZA
- Min deposit, USD
- 0 groupZA
- Leverage
- 500ZA
- Rank in this country
- #24
- Round turn, USD
- 6ZA
- Min deposit, USD
- 25ZA
- Leverage
- 500ZA
- Rank in this country
- #6
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology
| Axis | Weight | What is measured | FXOpen |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 35 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 100 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does FXOpen accept residents of South Africa?
- No. Offshore-regulated only; no local FSCA authorisation. Nevis entity is a Financial Commission member (lower-tier). Onboarding entity: Offshore FXOpen Markets Ltd
- Is FXOpen licensed to serve clients in South Africa?
- No FSCA licence. Global group holds FCA UK (579202) and CySEC (194/13); SA clients fall under offshore Nevis arm. Checked on 09.07.2026.
- How much does one round turn cost at FXOpen?
- About 1.5 USD per standard lot on EUR/USD. The median across brokers measured for South Africa is 7.0 USD.
- What leverage does FXOpen offer to retail clients in South Africa?
- Up to 1:500. Up to 1:500 (TickTrader up to 1:1000 on FX/metals) for offshore clients.
- Which trading platforms does FXOpen support?
- MT4, MT5, TickTrader. Instruments: FX, metals, indices, share CFDs, crypto CFDs.
- How can I withdraw money from FXOpen in South Africa?
- Cards, bank wire, Skrill, Neteller, BTC, USDT; no SA-specific rail verified at review.
- What account types does FXOpen offer?
- Micro/cent (from USD 1), STP, ECN (from USD 100 intl), Crypto (from USD 10).
- Does FXOpen offer a swap-free (Islamic) account?
- Yes. FXOpen offers a swap-free (Islamic) account to South Africa residents.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://fxopen.com
Not tax advice. Check with SARS.