Best brokers for commodities in South Africa
We checked which brokers let people living in South Africa trade commodities: 6 of the 7 we follow do. XTB leads, as it does wherever it qualifies; the other two places go to brokers available locally.
By Broksal Team, investing in forex and CFD markets since 2017. Updated . How we test
How we score
Each broker gets five sub-scores out of 5:
Regulation and safety (30%), trading costs (25%), platforms and tools (20%), range of markets (15%) and ease of use (10%). The overall score is the weighted average, rounded to one decimal.
Availability is checked against each broker's published country lists. The ranking order is editorial and reflects our commercial agreements, so it does not always follow the scores. Full methodology
Advertiser disclosure
Broksal is free to use because some brokers pay us a commission when you open an account through our links. This can influence which broker we feature and the order in which brokers appear.
Commissions never change the facts we publish about regulation, fees or country availability, and they cost you nothing.
Top 3 commodity brokers for South Africa
- 1
Our top pick in South Africa
XTB
4.8Own platform, no minimum deposit, commission-free stocks and ETFs within a monthly limit
Commodity CFDs Gold, oil and other commodity CFDs on xStation 5, with sentiment data and an economic calendar built in.
- Minimum deposit
- No minimum
- Platforms
- xStation 5 (web & desktop), XTB mobile app
- Entity for South Africa
- XTB International Limited — Offshore entity
- CFDs
- Yes
Show pros, cons and feesHide details
xStation 5: Market Watch with sentiment tabs on the left, an EUR/USD hourly chart with one-click order entry, and open positions below. Account number blurred. What we like
- Publicly listed in Warsaw with KNF, FCA and CySEC oversight
- No minimum deposit
- xStation 5 is fast, clean and has built-in market sentiment and calendars
- Real stocks and ETFs commission-free up to €100,000 monthly turnover
Watch out for
- No MetaTrader or cTrader
- Since March 2026 the international entity accepts residents of only a short list of countries
- Inactivity fee after 12 months without trading
Fees
CFDs are priced through the spread on the Standard account. Real stocks and ETFs are commission-free up to €100,000 of monthly turnover, then 0.2% (minimum €10). Currency conversion and overnight swap costs apply.
Best for
Beginners and active traders who want one app for CFDs and real stocks.
- 2
Interactive Brokers
4.7The widest market access here, with low costs and top-tier regulation
Futures and CFDs Commodity futures on global exchanges, plus commodity CFDs outside the US.
- Minimum deposit
- No minimum
- Platforms
- Trader Workstation (TWS), IBKR Desktop, Client Portal (web) +2
- Entity for South Africa
- Interactive Brokers LLC / regional affiliate — Top-tier regulators
- CFDs
- Yes
Show pros, cons and feesHide details
Interactive Brokers homepage, showing the desktop platform and mobile app and the new AI-assisted analysis integrations. What we like
- Listed on Nasdaq and regulated by top-tier authorities worldwide
- Access to stocks, options, futures and bonds on 150+ markets
- No minimum deposit and no inactivity fee
- Accepts residents of most countries
Watch out for
- Trader Workstation has a steep learning curve
- CFDs are not available to US residents
- Account opening asks for more documents than most brokers
Fees
Two pricing plans: Fixed (one all-in commission) and Tiered (lower exchange-based commission plus pass-through fees). CFD commissions are charged per trade, with financing on overnight positions. There is no inactivity fee.
Best for
Experienced investors who want access to global exchanges.
- 3
IQ Option
4.1A $10 minimum deposit and one of the simplest trading apps
Commodity CFDs Commodity CFDs on a very simple app from a $10 deposit.
- Minimum deposit
- $10
- Platforms
- IQ Option web platform, Desktop app, Mobile app
- Entity for South Africa
- IQ Option international entity — Offshore entity
- CFDs
- Yes
Show pros, cons and feesHide details
IQ Option EU homepage (CySEC licence 247/14): CFDs on forex, stocks and crypto, with leverage up to 1:30 on forex for EU retail clients. What we like
- $10 minimum deposit and a reloadable demo account
- Very easy proprietary platform on web, desktop and mobile
- CySEC regulated entity for EEA clients
Watch out for
- No MetaTrader, limited research tools
- Not available in the US, UK, Canada, Australia and several EU countries
- Clients outside the EEA are served by a lightly regulated entity
Fees
CFD costs are built into the spread, with overnight funding on leveraged positions. An inactivity fee is charged after a period without trading.
Best for
Beginners who want a very simple app and a small first deposit.
Also available in South Africa:
XM 4.6
IC Markets 4.6
eToro 4.3
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each broker publishes its own current loss percentage on its website.
Commodities from South Africa: the rules
Offshore entities serving South Africa may allow higher leverage on commodities; oil and gold can move several percent in a day. Locally, financial services are supervised by the Financial Sector Conduct Authority (FSCA).
Exchange-control rules limit how much you can move offshore each year without special approval; check your allowances before funding a foreign account.
Best time to trade gold and oil from Pretoria
Gold and oil are usually most liquid while London and New York are both open: 15:30–17:30 local time (UTC+2, early October 2026). Commodity CFDs pause briefly each day and close at weekends.
Tax
SARS treats profits from frequent, short-term trading as income taxed at your marginal rate; long-term investments can qualify for capital gains treatment. How you trade decides which applies. This is general information, not tax advice. More on trading from South Africa.
All 7 brokers we review, checked for commodities in South Africa
| Broker | Status | Access | Entity for South Africa |
|---|---|---|---|
| XTB | #1 in this ranking | Commodity CFDs | XTB International Limited — Offshore entity |
| XM | Available | Commodity CFDs | XM Global Limited — FSC (Belize) |
| IC Markets | Available | Commodity CFDs | Raw Trading Ltd (IC Markets Global) — FSA (Seychelles) |
| Interactive Brokers | #2 in this ranking | Futures and CFDs | Interactive Brokers LLC / regional affiliate — Top-tier regulators |
| Freedom24 | Not available in South Africa | — | — |
| IQ Option | #3 in this ranking | Commodity CFDs | IQ Option international entity — Offshore entity |
| eToro | Available | Commodity CFDs | eToro (Europe) Ltd or regional entity — CySEC |
Commodities rankings in countries bordering South Africa
| Country | Brokers offering commodities | #1 |
|---|---|---|
| 🇧🇼 Botswana | 4 | XM |
| 🇱🇸 Lesotho | 4 | XM |
| 🇲🇿 Mozambique | 4 | XM |
| 🇳🇦 Namibia | 4 | XM |
| 🇸🇿 Eswatini | 4 | XM |
| 🇿🇼 Zimbabwe | 4 | XM |
Frequently asked questions
What is the best commodity broker in South Africa?
XTB, in our ranking. Gold, oil and other commodity CFDs on xStation 5, with sentiment data and an economic calendar built in. Interactive Brokers and IQ Option complete the top 3.
Which brokers offer commodities to residents of South Africa?
Of the brokers we review: XTB (commodity cfds), XM (commodity cfds), IC Markets (commodity cfds), Interactive Brokers (futures and cfds), IQ Option (commodity cfds) and eToro (commodity cfds).
What are the rules for commodities in South Africa?
Offshore entities serving South Africa may allow higher leverage on commodities; oil and gold can move several percent in a day.
When is commodities most liquid in South Africa?
Usually 15:30–17:30 local time, while London and New York are both open (early October 2026 times).
What is the best broker for trading gold?
XTB leads our ranking where it is available. Use our gold calculator to see what each dollar of price movement is worth for your position.
Availability last checked 6 October 2026. Brokers change their country lists without notice; the broker's sign-up form is the final word.