Zero-commission brokers in South Africa

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (20 of 103 counts · 100 brokers onboarding South African residents)

20of 103

qualify for this ranking

19% of 103

17of 20

scored on all six axes

85% of 20

80of 103

publish a price

78% of 103

72of 103

publish a leverage figure for this country

70% of 103

Top 3 (of 3 ranked)

1OctaFX4.55highest score of the three · locally licensed · withdrawal in 3 h 2Capital.com4.48cheapest priced of the three · locally licensed · withdrawal in 24 h 3Mitrade4.32locally licensed · withdrawal in 24 h

Zero-commission brokers in South Africa (20 of 103)

By slice score, formula v1.0. · 20 of 100 brokers in this ranking · all 20

#	Broker	Round turn, USDZA	Min deposit, USDZA	Leverage	Withdrawal, hZA	Score	Execution	Founded	Funding
1	CFI	—	0	500ZA	24	4.69	ECN/raw + standard	1998	3 methods · local
2	OctaFX	9	25	1000ZA	3	4.55	ECN/raw + standard	2011	3 methods · local
3	Capital.com	6	20	30 groupZA	24	4.48	Standard	2016	3 methods · local
4	Mitrade	8.5	20	200ZA	24	4.32	Standard	2011	4 methods
5	AvaTrade	9	100	400ZA	24	4.27	Standard	2006	5 methods · local
6	Markets.com	6	100	300ZA	168	4.13	Standard	2008	5 methods · local
7	ActivTrades	4.2	0 group	200ZA	24	4.03	ECN/raw + standard	2001	4 methods
8	Trade Nation	5	0 group	200ZA	120	3.98	Standard	2014	3 methods · local
9	Khwezi Trade	4	50 group	400ZA	72	3.96	ECN/raw + standard	2013	1 methods · local
10	Plus500	8	10	30ZA	72	3.95	Standard	2008	5 methods · local
11	XTB	1	0	500ZA	72	3.83	ECN/raw + standard	2002	2 methods
12	ATFX	12	500 group	400ZA	24	3.82	Standard	2017	3 methods · local
13	LiteFinance	18	50	1000ZA	24	3.67	Standard	2005	3 methods
14	FXTM	16	10	2000ZA	24	3.6	Standard	2011	5 methods · local
15	Errante	—	50 group	1000ZA	24	3.58	ECN/raw + standard	2019	5 methods
16	EasyEquities	—	—	—stated, not verified	120	3.31	—	2014	4 methods
17	T4Trade	18	50 group	1000ZA	24	3.21	Standard	2021	5 methods
18	eToro	10	50 group	30ZA	120	3.19	Standard	2007	5 methods
19	Axiory	2	10 group	400ZA	240	3.04	ECN/raw + standard	2011	6 methods
20	Fortrade	20	100 group	—stated, not verified	120	2.48	Standard	2013	4 methods

Ten are shown; the button opens the rest.

"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.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

LiteFinance publishes a retail leverage of 1:1000 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

Identical for every row, so it is stated once: Who onboards Local · FSCA · Swap-free fee none, no limit · ZAR account Yes.

1. OctaFX — highest score of the three · locally licensed · withdrawal in 3 h (score 4.55)

Round turn: 9 USD
Withdrawal: 1-3 hours on business days
ZAR account: USD, EUR
Leverage: 1000ZA
Licence: FSCA 51913
Accepts residents: yes
Onboarding entity: Orinoco Capital Pty Ltd
Founded: 2011
Group leverage: uncleargroup
Instruments: Forex, crypto, stocks
Platforms: MT5cTraderWebTradingView
Funding: EFT, OZOW, local bank
Not served: United States, Canada, United Kingdom, European Union, Israel, Japan, New Zealand, North Korea, Iran, Myanmar, Philippines, Singapore

Reviews25%90
Round-turn cost20%80
Safety
Payouts15%98
Track record10%75
Platforms65

Why it ranks here

Round turn 9 USD against the slice median 7 USD. strongest axis payouts 98 of 100. total score 4.55.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of OctaFX

2. Capital.com — cheapest priced of the three · locally licensed · withdrawal in 24 h (score 4.48)

Round turn: 6 USD
Withdrawal: 24 hours
ZAR account: USD-denominated; local ZAR account availability not verified at review.
Leverage: 30 groupZA
Accepts residents: yes
Onboarding entity: South African clients are now onboarded by the new local entity Capital Com South Africa (Pty) Ltd, which received FSCA approval in June 2026 (previously SA was served offshore/restricted).
Founded: 2016
Register: https://capital.com/en-int/press · 09.07.2026
Group leverage: unclear
Instruments: CFD-only broker; the SA entity advertises 5,000+ CFD markets across equities, commodities, indices, FX and crypto.
Platforms: MT5MT4Web
Funding: Cards, bank transfer and e-wallets; ZAR instant-EFT support not verified at review.
Not served: Afghanistan, American Samoa, Belgium, Bahamas, Barbados, Belarus, Burkina Faso, United States of America, Cameroon, Canada, China, Congo, Democratic Republic of the Congo, Cuba, Eritrea, Gibraltar, Guam, Haiti, India, Indonesia, Iran, Iraq, Israel, Japan, Artsakh (Nagorno-Karabakh), Kosovo, North Korea, Libya, Malaysia, Mali, Marshall Islands, Federated States of Micronesia, Myanmar, New Zealand, Northern Mariana Islands, Palestine, Palau, Philippines, Puerto Rico, Russia, Sahrawi Arab Democratic Republic, Samoa, Senegal, Somalia, South Sudan, Sudan, Syria, Turkey, United States Minor Outlying Islands, Vanuatu, Venezuela, Virgin Islands, US, Yemen

Why it ranks here

Round turn 6 USD against the slice median 7 USD. strongest axis safety 100 of 100. total score 4.48.

Watch for

Min deposit 200 USD, double the South Africa median of 50; withdrawal time not published.

Full review of Capital.com

3. Mitrade — locally licensed · withdrawal in 24 h (score 4.32)

Why it ranks here

Round turn 8.5 USD against the slice median 7 USD. strongest axis safety 100 of 100. total score 4.32.

Watch for

Onboards South African residents through an offshore entity: no FSCA licence, no FSCA complaints route, no ZAR account.

Full review of Mitrade

What the data shows(20 of 103 distributions · 100 brokers)

Swap-free availability (20 of 103 brokers)

Offered30Not offered14

Admin fee after the free period (20 of 103 swap-free)

Never16After 3–30 days9not published5

Who onboards South African residents (20 of 103 brokers)

Local FSCA entity20Offshore entity24

ZAR account (20 of 103 brokers)

Yes16No23not published5

Commission per round turn, USD (72 of 103 · median 5 USD)

68<10

320

030

040

1>40

EUR/USD spread, pips (81 of 103 · median 1 pips)

38<1

412

0>4

Full list(20 of 103)

1CFI4.69
Onboards
Local · FSCA
Swap-free
none, no limit
Min deposit, USD
0
Leverage
500ZA
ZAR
Yes
2OctaFX4.55
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
25
Leverage
1000ZA
ZAR
Yes
3Capital.com4.48
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
20
Leverage
30 groupZA
ZAR
Yes
4Mitrade4.32
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8.5
Min deposit, USD
20
Leverage
200ZA
ZAR
Yes
5AvaTrade4.27
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
100
Leverage
400ZA
ZAR
Yes
6Markets.com4.13
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
100
Leverage
300ZA
ZAR
Yes
7ActivTrades4.03
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
4.2
Min deposit, USD
0 group
Leverage
200ZA
ZAR
Yes
8Trade Nation3.98
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
0 group
Leverage
200ZA
ZAR
Yes
9Khwezi Trade3.96
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
4
Min deposit, USD
50 group
Leverage
400ZA
ZAR
Yes
10Plus5003.95
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
10
Leverage
30ZA
ZAR
Yes
11XTB3.83
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
1
Min deposit, USD
0
Leverage
500ZA
ZAR
Yes
12ATFX3.82
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
12
Min deposit, USD
500 group
Leverage
400ZA
ZAR
Yes
13LiteFinance3.67
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
18
Min deposit, USD
50
Leverage
1000ZA
ZAR
Yes
14FXTM3.6
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
16
Min deposit, USD
10
Leverage
2000ZA
ZAR
Yes
15Errante3.58
Onboards
Local · FSCA
Swap-free
none, no limit
Min deposit, USD
50 group
Leverage
1000ZA
ZAR
Yes
16EasyEquities3.31
Onboards
Local · FSCA
Swap-free
none, no limit
ZAR
Yes
17T4Trade3.21
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
18
Min deposit, USD
50 group
Leverage
1000ZA
ZAR
Yes
18eToro3.19
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
10
Min deposit, USD
50 group
Leverage
30ZA
ZAR
Yes
19Axiory3.04
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
2
Min deposit, USD
10 group
Leverage
400ZA
ZAR
Yes
20Fortrade2.48
Onboards
Local · FSCA
Swap-free
none, no limit
Round turn, USD
20
Min deposit, USD
100 group
ZAR
Yes

How to read this ranking

Start with the figure this page ranks on.
Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.
Check which company would onboard you.
The same brand can take a resident of South Africa through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.
Read the cost beside the deposit.
The median round turn across this country is 7.0 USD and the median minimum deposit 50.0 USD; a low deposit beside a wide spread takes the difference back on every trade.

Neighbouring slices(6 rankings · 6 explainers)

Same country

Explained

FAQ

How many brokers qualify for this ranking in South Africa?: 20 of 103 brokers measured for this country qualify.
Which broker leads it, and on what basis?: OctaFX leads it with a score of 4.55. The order is computed score, highest first; unscored brokers follow.
What does a trade typically cost here?: The median round turn - spread plus commission for one standard lot, in and out - is 7.0 USD across the brokers that publish both parts.
Why do some rows show a dash instead of a figure?: Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.

How this slice is scored

Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

Verified · What changed · Sources(20 of 103 broker records)

Verified01.10.2026

data re-captured 28.09.2026

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.