Africa is the next frontier for Forex IB programs. South Africa, Nigeria, Kenya, and Ghana represent massive and rapidly growing markets. FSCA regulation (South Africa) is the regional benchmark. Mobile money payments (M-Pesa, MTN MoMo) and crypto deposits are essential for IBs serving this market.
Exness — Up to $1500 CPA · $10/lot rebate · 40% revenue share
Exness earns its #1 spot for africa due to its industry-leading $10/lot rebate — among the highest available for active trading clients. Regulated by FCA and CySEC and FSA, Exness operates across EU, APAC, MENA, Africa, LATAM regions. As a Tier 1 broker, it offers institutional-grade execution quality and superior client retention rates.
XM earns its #2 spot for africa due to its competitive $200–$800 CPA range and 35% revenue share combination. Regulated by CySEC and ASIC and IFSC, XM operates across EU, APAC, MENA, LATAM, Africa regions. As a Tier 1 broker, it offers institutional-grade execution quality and superior client retention rates.
HFM (HotForex) earns its #3 spot for africa due to its competitive $200–$700 CPA range and 35% revenue share combination. Regulated by FCA and CySEC and FSA, HFM (HotForex) operates across EU, MENA, Africa regions. Its accessible minimum deposit requirements make it particularly effective for IBs targeting emerging market clients.
Deriv earns its #4 spot for africa due to its competitive $150–$400 CPA range and 25% revenue share combination. Regulated by MFSA and BVI and VFSC, Deriv operates across APAC, Africa, LATAM regions. Its accessible minimum deposit requirements make it particularly effective for IBs targeting emerging market clients.
JustMarkets earns its #5 spot for africa due to its competitive $150–$400 CPA range and 25% revenue share combination. Regulated by FSA and VFSC, JustMarkets operates across APAC, Africa, LATAM regions. Its accessible minimum deposit requirements make it particularly effective for IBs targeting emerging market clients.
Our 2026 rankings are based on 5 weighted criteria, evaluated independently for each broker. Rankings are updated regularly as commission rates, platform quality, and IB terms change.
FSCA-regulated brokers preferred in South Africa
M-Pesa, MTN MoMo, Orange Money integration
Competitive CPA for African market FTDs
USDT/BTC deposits important for markets with capital restrictions
Low minimum ($10–$50) for emerging market clients
| Broker | CPA Min | CPA Max | Rebate/Lot | Rev Share | Tier | Regions | Action |
|---|---|---|---|---|---|---|---|
| Exness | $300 | $1500 | $10 | 40% | T1 | EU, APAC | Compare |
| XM | $200 | $800 | $5 | 35% | T1 | EU, APAC | Compare |
| HFM (HotForex) | $200 | $700 | $5 | 35% | T2 | EU, MENA | Compare |
| Deriv | $150 | $400 | $3 | 25% | T2 | APAC, Africa | Compare |
| JustMarkets | $150 | $400 | $4 | 25% | T2 | APAC, Africa | Compare |
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