Brokers With ZAR Accounts

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James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Brokers with ZAR accounts are a great option for investors from South Africa looking to deposit, trade and withdraw in their local currency. But are they better than USD or EUR accounts? And are they suitable for everyone? We list the best online brokers with South African Rand as the trading account currency in 2025.

Brokers With South African Rand Accounts

These are the 2 best brokers that offer accounts with ZAR as the base currency:

Click a broker for details
  1. 1
    Dukascopy
    10% Equity Bonus

    Ratings
    3.5 / 5
    3.5 / 5
    3.8 / 5
    3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.6 / 5
    3.7 / 5

    $100
    0.01 Lots
    1:200
    FINMA, JFSA, FCMC
    CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options
    JForex, MT4, MT5
    Neteller, Wire Transfer, Mastercard, Skrill, Visa, Maestro, Credit Card, Debit Card, Apple Pay, Bitcoin Payments, Ethereum Payments
    USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN
  2. 2
    Zacks Trade

    Ratings
    3.5 / 5
    3 / 5
    3 / 5
    3.5 / 5
    3.8 / 5
    3.5 / 5
    3.9 / 5
    1 / 5
    5 / 5
    3.7 / 5

    $2500
    $3
    FINRA
    Stocks, ETFs, Cryptos, Options, Bonds
    Own
    Wire Transfer, ACH Transfer, Cheque
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Here is a short summary of why we think each broker belongs in this top list:

  1. Dukascopy - Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 1,200+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.
  2. Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.

Brokers With ZAR Accounts Comparison

Brokers With ZAR Accounts Comparison
Broker Minimum Deposit Instruments Platforms
Dukascopy logo
$100 CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options JForex, MT4, MT5
Zacks Trade logo
$2500 Stocks, ETFs, Cryptos, Options, Bonds Own

Dukascopy

"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."

Christian Harris, Reviewer

Dukascopy Quick Facts

Bonus Offer10% Equity Bonus
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options
RegulatorFINMA, JFSA, FCMC
PlatformsJForex, MT4, MT5
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:200
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN

Pros

  • Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
  • Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as both a broker and a bank, ensuring top-tier financial security and adherence to strict standards.
  • The proprietary JForex platform is highly advanced, offering tools for algorithmic trading, extensive charting, and access to deep liquidity for short-term traders.

Cons

  • Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
  • While JForex is feature-rich, it has a steep learning curve, making it less suitable for beginner traders who might prefer simpler platforms.
  • Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."

Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo AccountYes
InstrumentsStocks, ETFs, Cryptos, Options, Bonds
RegulatorFINRA
PlatformsOwn
Minimum Deposit$2500
Minimum Trade$3
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

  • 20+ account denominations
  • Customizable proprietary trading platform and mobile app
  • Regulated by FINRA with access to the Securities Investor Protection Corporation

Cons

  • No MT4 or MT5 platform integration
  • Shortcomings regarding platform loading times and technical glitches
  • Withdrawal fees apply if removing funds more than once per month

ZAR Accounts Explained

All brokers with ZAR accounts essentially offer a live trading account where South African Rand is the base currency.

The Rand consists of 100 cents and is known by the symbol ‘R’. It is one of the leading currencies in Africa and is popular with traders all over the world. But whilst a regular feature in forex pairs, ZAR accounts have piqued interest owing to their competitive rates, low payment thresholds and ease of use when making deposits and withdrawals.

Of course, not all forex and stock brokers that accept South African Rand as the base currency offer the same perks and trading conditions. As a result, it’s important to compare options before you start trading.

Benefits Of Brokers With ZAR Accounts

There are several reasons to start trading with a ZAR account:

Should You Open A ZAR Account?

South African Traders

If you’re a South African citizen, a ZAR-based account has a lot to offer. Users can make quick, secure and convenient deposits and withdrawals while avoiding currency conversion fees that typically range from 7% to 10%. Brokers with ZAR accounts also usually rely on large banking institutions to facilitate payments, meaning that capital is in relatively secure hands.

International Traders

If you’re not a South African citizen, a USD, EUR or GBP account may be a better option. With that said, if you regularly use the Rand, including trading it on the forex market, then you may still get value from opening a ZAR account. It can help cut costs and facilitate hassle-free forex trading.

Unfortunately, not every international broker offers ZAR accounts. This scarcity is largely due to reduced liquidity vs more established currencies. Still, check out our list of brokers with ZAR accounts for the best options.

Final Word On Brokers With ZAR Accounts

If you’re an active trader based in South Africa, it probably makes sense to open a ZAR account. It will make funding trading positions straightforward and often fee-free. For international traders, online brokers with a ZAR account could still be a good option if you regularly trade the currency. Check out our list of the best Brokers with ZAR accounts to get started.

FAQ

What Is A ZAR Account?

A ZAR account is a trading account that operates with Rand as its base currency. The Rand (ZAR) is the currency of South Africa and regularly features in popular forex pairs.

Can I Open A ZAR Account If I Am Not A South African Citizen?

You do not need to be a South African citizen to open a ZAR account. With that said, accounts are few and far between versus accounts in USD or EUR. Whilst several international brokers do offer ZAR accounts, most are local brokers aimed at traders from South Africa.

What Are The Benefits Of Brokers With ZAR Accounts?

The primary benefit of opening an account with Rand as the base currency is that they facilitate fast and cost-effective payments to and from trading accounts. Local traders won’t need to pay currency conversion fees and brokers that offer ZAR accounts tend to accept lower minimum deposits.

How Can I Open A ZAR Account?

The first step is to find a broker that offers a ZAR trading account. Once you’ve checked they offer the tools and market access you need to make your strategy a success, follow the sign-up process on their website. Most trading platforms will require basic contact details and proof of ID before you can open positions.

Which South African Brokers Offer ZAR Accounts?

Whilst there are a number of local brokers that offer ZAR accounts, Khwezi Trade stands out for its strong reputation and product offering. Clients can access a wide range of assets, tools and resources. Check out our Khwezi review for more details.