Ready to explore forex trading in South Africa but unsure where to begin?
This essential guide addresses the most frequent questions beginners have, including whether forex trading is legal, the minimum capital needed to start, and how to register your account.
We’ll walk you through the fundamentals, ensuring you have all the information to confidently take your first steps in the South African forex market.
Is Forex Trading Legal in South Africa?
Yes, forex trading is 100% legal in South Africa.
Trade245 is a proudly FSCA-regulated broker (FSP No. 46044), based in South Africa and operating under Red Pine Capital (Pty) Ltd.
So when you open a trading account with us, you’re trading with a licensed financial services provider that’s trusted across the country.
How Much Do You Need to Start Trading?
This is one of the most searched questions:
Here’s the breakdown at Trade245:
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R50–R100 minimum for MT5 Micro account (currencies)
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R150–R200 for trading indices
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R450–R500 if you’re looking to trade Nasdaq (NAS100) and USA30 on a Bonus account
That means you can realistically get started with as little as R50, depending on what you want to trade.
READ MORE: How to Install and Use the Trade245 Mobile App
How to Open a Forex Trading Account
Creating an account at Trade245 is quick and beginner-friendly:
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Go to my.trade245.com
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Register using your email and upload FICA documents
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Once verified, log in and create a live account
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Select the platform (MT4 or MT5), account type, and leverage
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Make your deposit and start trading
✔ Tip: We also offer demo accounts if you want to practise first without risking real money.
What Is the Best Time to Trade in South Africa?
Most traders focus on the London (10:00–19:00) and New York (15:30–22:00) sessions.
CHECK OUR ECONOMIC CALENDAR
These are the busiest times in the market and when instruments like Nasdaq (NAS100) are most active.
Weekend traders can also trade on select accounts at Trade245, depending on the asset.
What Are ZAR Trading Accounts?
Many traders search for forex brokers with ZAR accounts—and yes, Trade245 offers ZAR-denominated accounts.
This means:
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No need to convert your deposit to USD
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Easier to manage your trading budget
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Faster and cheaper local deposits and withdrawals
Can You Trade From Your Phone?
Yes, with the Trade245 mobile app, available on Android and iOS, you can register, fund your account, manage withdrawals, and monitor your trades—all from your phone.
➡️ Download for Android
➡️ Download for iOS
ALSO READ: Trade245 Minimum Deposit: How Much Do You Need to Start?
How to Deposit & Start Trading
You can deposit using several local payment methods:
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Ozow (supports Absa, FNB, Standard Bank, Nedbank, and more.)
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Capitec Pay
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Peach Payments
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Skrill
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Neteller
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LetKnowPay (crypto)
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And more crypto options
Once you fund your account, you can choose between different account types, including:
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Bonus Account (245% or 100% deposit bonus)
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Zero Spread
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Swap-Free
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Cent Account
Why South Africans Choose Trade245
✅ Regulated in South Africa
✅ Low minimum deposits
✅ Mobile app for Android and iOS
✅ Fast withdrawals (2–4 business hours)
✅ Multiple account types
✅ Free demo account for beginners
✅ MT4 and MT5 platforms
How to Start Forex Trading in South Africa
You don’t need thousands of rands or trading experience to start.
If you’ve been wondering how to join forex trading in South Africa, open a forex account, or start with just R50, Trade245 is built to make the process as simple as possible.
👉 Create your Trade245 account now and start your forex journey today.
✔ Download the app and manage your account on the go.
