Pepperstone vs FXTM — which is better for African traders?
How this answer was verified
- Cross-checked against broker-published fact sheets, regulator licensing databases, and ESMA product intervention notices.
- Reviewed by the FX-Brokers EU editorial desks (Markets, Platforms, Regulation). Desk structure disclosed at /about/editorial-desks.
- Refreshed quarterly. The most recent verification date is shown above. Read our methodology.
Broker mentioned in this answer
Pepperstone
9.4/10Pepperstone serves EU clients through its CySEC-regulated entity (part of a group also licensed by BaFin, the FCA and ASIC), offering razor-sharp spreads, zero minimum deposit, and excellent execution across MT4, MT5, cTrader, and TradingView.
72.9% of retail CFD accounts lose money.
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Related
Broker review: Pepperstone
Pepperstone serves EU clients through its CySEC-regulated entity (part of a group also licensed by BaFin, the FCA and ASIC), offering razor-sharp spreads, zero minimum deposit, and excellent execution across MT4, MT5, cTrader, and TradingView.
Broker review: FXTM
FXTM (ForexTime) is an FCA (UK) and FSCA (South Africa) regulated broker established in 2011, offering three account tiers, structured education, and multilingual support. It surrendered its CySEC licence in 2024 and no longer serves EU retail clients.
What is the best forex broker for South African traders?
Of the brokers our data verifies with an FSCA licence, AvaTrade (FSP 45984) and Trade Nation (FSP 49846) serve South African traders under domestic FAIS Act protections. Several other well-established international brokers — including Exness, XM, Pepperstone and Tickmill — accept South African clients through their internationally regulated global entities. South Africa mandates no retail leverage cap, so global entities offer high leverage; see our South Africa broker guide for the full ranked comparison.
Is FXTM a safe broker in 2026?
FXTM is safe for retail clients. ForexTime UK Ltd is regulated by the FCA under licence 777911 and additionally holds an FSCA (South Africa) licence. CySEC licence 185/12 was voluntarily surrendered in 2024.
What is the FSCA in South Africa?
The Financial Sector Conduct Authority (FSCA) is South Africa's market-conduct regulator. Forex brokers must hold an FSP (Financial Service Provider) licence under the FAIS Act. FSCA permits up to 1:500 retail leverage on FX — significantly higher than ESMA, MAS or ASIC. FSCA-licensed entities must segregate client funds.
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