Best Trading Platform South Africa (Updated for 2023)

In this in-depth guide our experts review top trading platforms available in South Africa that you may want to consider!

Main goal of this expert guide is to help South African traders to pick an online broker that is regulated, comes with an intuitive trading platform, low fees and of course local deposit options and great customer reviews.

Our aim is to help you to avoid scam brokers!

We also reveal the cheapest online trading platform in South Africa.

 

What is the Best Online Trading Platform in South Africa?

  • AvaTrade – Top Trading Platform in South Africa 2023
  • Pepperstone – Excellent Forex Trading Platform in ZA
  • XTB – Cheapest Stock Broker in South Africa Overall
  • IQ Option Best Trading App in SA
  • CM TradingFinancial Sector Conduct Authority (FSCA)  Regulated Broker

Compare Trading Platforms South Africa

BrokerMore infoBest for:Min. depositZAR account Trading Platform

71% retail CFD accounts lose.

Stocks Trading
Indices
Options
$100Yes in ZAR,USD,EURO MetaTrader 4
MetaTrader 5
AvaOptions
AvaGO

77,6% retail CFD accounts lose.

Forex
Stocks Trading
Indices
Crypto
$1YES in ZAR, USD Metatrader 4
Metatrader 5
cTrader
TradingView
xtb logo

77% retail CFD accounts lose.

Real Stocks Investing
Real ETF Investing
FOREX
Crypto Trading
$1YES in ZAR,USD, EUROxStation
xStation Mobile Apps

71.61% retail CFD accounts lose.

FX
$30 No Deposit Bonus
$15YES in ZAR, USD,EUROMetaTrader 4 
MT4, MT5
iOS / Android Apps

73% retail CFD accounts lose.

Binary Options Trading$10YES in ZAR, USD Webtrader

Best Online Brokers in South Africa Reviewed

1, AvaTrade

AvaTrade online broker allows you to buy CFD shares very cheap.

It is probably the cheapest share trading platform South Africa. AvaTrade has been trusted by tens of thousands of satisfied clients from all over the world. AvaTrade has built their strong brand mainly as a number 1 online trading broker according to numerous awards. AvaTrade is a highly regulated online broker that acts as a one stop shop for all trading needs.

With solid fast online trading Apps for both Android and iOS smartphones is a pleasure to use even for beginners with no previous experience with trading.

AvaTrade broker relies on a simple fee structure with the opening and running of a free trading account, with no entry fee and just $100 minimum deposit. Low deposit requirement makes it accessible even for beginners.

According to our information, this broker does not charge a fee or deposit the shares at unlimited value, which is not standard on the market. At no extra cost, a top trading platform is available to the investor, as well as an Account Manager support. Of course there is a free demo account, where the South African investor can try stock trading without risk. And if there are any problems, technical support is available 24 hours a day.

AvaTrade stock broker offers the following financial instruments:

  • investor will find more than 1,800 shares, including the big stars of the investor world like TESLA, Apple, Facebook, Google, and Amazon
  • intuitive and user-friendly trading platform
  • it offers multiple trading platforms
  • one can daytrade shares, which allows you to use leverage 1:5 and short stocks

Pros:

  • CFD Crypto, Forex, Stock trading, Indices, Commodities
  • Regulated by Financial Sector Conduct Authority South Africa
  • Many local currency ZAR funds depositing options available
  • There are 100’s  shares, currency pairs and cryptocurrencies on this platform
  • Broker’s minimum deposit $100 USD 
  • Fast withdrawals 

 Cons:

  • US clients not accepted

Visit AvaTrade.com

71% of retail investor accounts lose money when trading CFDs with this provider. 


2, Pepperstone – Overall the Best Forex Trading Platform

 

 

Pepperstone is considered very safe regulated South African forex trading platform.

Pepperstone broker has successfuly entered South African financial market many years ago. This online broker is well known for its strong and knowledgeable customer support team together with cutting edge technology and top trading platforms.

Pepperstone offers an access to variety of online platforms, huge leverage up to 1:200 that allows you to speculate with insane low minimum deposit of $1.

You can trade all world markets financial markets (CFDs on International Shares, Bitcoin, Gold), chat with other traders, follow them online and have fun!

Pros:

  • Licensed to solicit traders in Africa
  • Best Trading App
  • CFDs: FX, Shares, Oil, Bitcoin, Crypto, Commodities
  • Access to Live Trading Signals
  • Competitive spreads on Share CFDs
  • First Minimum Deposit only 1 USD
  • Fast withdrawals

Cons:

  • only Stock CFDs

Visit Pepperstone.com

 

Between 74-89 % of retail investor accounts lose money when trading CFDs 


3, XTB – Cheapest Stock Broker in ZA

There are currently over 300 thousand active traders on XTB. Novice investors usually join XTB trading platform to trade Stocks, Cryptocurrencies and Forex. XTB online platform xStation 5  is easy to use, with minimum deposit $5 and offering wide range of stocks, cryptocurrencies, stock indices and of course more than competitive trading fees.

“XTB Africa is regulated online broker recommended for day traders who need leverage and also for long-term investors who buy and hold”

Pros:

  • Cheapest Stock Trading Platform
  • 1600 Real Stock trading
  • 200 ETF Funds
  • 30 Crypto currencies trading
  • Regulated by Financial Sector Conduct Authority South Africa
  • Broker’s minimum deposit 1 Rand only
  • Many local ZAR depositing options available!
  • Local South African bank fund deposits
  • There are over 1600+ Real stocks  and ETF indexes available
  • Fast withdrawals

 Cons:

  • No Metatrader trading platforms

Visit www.XTB.com

82% of retail investor accounts lose money when trading CFDs with this provider.



IQ Option – Trade Share CFDs with High Leverage 1:1000

IQ Option is highly reputable  regulated share trading platform. It is one of the most popular CFD share trading platforms used by South African traders. You can use IQ Option platform for CFD daytrading with good leverage and low spreads.

Capital.com provides an access to over 3,000 global shares.

Pros:

  • TIGHT SPREADS on CFD Shares and Crypto
  • Broker’s minimum deposit $10
  • Zero Deposit Fees
  • CFD on stocks with leverage up to 1:1000
  • Fast withdrawals

Cons:

  • only CFD on stocks

Visit www.IQoption.com

77% of retail investor accounts lose money when trading CFDs with this provider. 


Online Trading South Africa

Online stock trading in South Africa has moved from stock market parquets in JSE Johannesburg Stock Exchange to the living rooms and smartphones of entire population of SA. But successful investment requires time and hard work!

Especially beginners must carefully consider all aspects that could affect their chances of successful investing into shares. Therefore state regulator Financial Sector Conduct Authority supervises the South African financial market.

However, also experienced investors should not let themselves be fatigued by their success and still seek ways to move forward.

How to Choose an Online Trading Platform in South Africa

1. Compare All Trading Fees (Costs)

You will probably agree that closely monitoring of trading costs is at the forefront of factors that decide whether you will make profit or loss as a stock investor. Anyone entering a market should be interested in fees! Trading platforms in South Africa usually charge between $5 per US stocks trade and some online stock brokers introduced zero commisions on share trading.

Trading fees

  • cost per volume for example you will be charged $5 per one purchase
  • minimum cost e.g. 0.12% from contract volume, meaning if you buy stocks in amount of $10.000 you will be charged

Non – trading fees

“Be careful some share trading platforms in South Africa will charge you inactivity fees!

Therefore, it is important to thoroughly compare the costs of each online broker!

Unfortunately, this is not a simple discipline, as price lists are often complicated with many star exceptions. One can only speculate whether confusion has any legitimate reasons, or whether their sole purpose is to conceal high fees properly. And unfortunately, low client awareness is recording this behavior.

When selecting an online stock broker, it is also important to consider the amount you intend to invest in the shares and what shares you plan to buy. Whether it will be shares of US companies, EU companies or world shares and so on.

In addition to brokerage fees for underlying deals, most companies still charge some hidden fees.

This includes in particular:

  • asset transfer fees
  • annual account maintenance fees
  • account closure fees
  • charges for inactive accounts

2. Regulation

Safety is the most important yet overlooked factor when choosing and online broker. South African can choose from many FSCA regulated brokers.  FSCA Financial Services Conduct Agency is the main financial market regulator in South Africa. Never trade with unregulated rokers.

3. Minimum deposit

If you are resident of South Africa, for sure you want to know what is the minimum investment on a platform.  On most platforms that are listed in this article, minimum investment is around $100 which is enough to start investing into stocks.

US stock brokers for example Interactive Brokers require minimum $2,000 starting capital.

Danish SAXO Bank requires first investment of $10,000 for example.

So it depends what are your investment goals, and how wealthy you are.

4. Demo Practice Account

If you are just starting out, it is good to test the waters with a practice account. You should learn how

 


FAQ (Frequently Asked Questions) 

Q: Is Trading Legal in South Africa?

The answer to both of these questions is yes, share trading platforms are legal and safe in South Africa. This is because the country has a very well-developed financial system and there are strong regulations in place to protect investors.

However, it is important to remember that no investment is completely risk-free. So, even though share trading platforms are legal and safe, there is still a chance that you could lose money if you make bad investment decisions.

Q: Is it better to buy stock directly from a company?

There are a few things to consider when answering this question. The first is whether or not the company is publicly traded. If the company is not publicly traded, then it is not possible to buy stock directly from the company.

The second is whether or not the company is located in South Africa. If the company is located in South Africa, then there may be some restrictions on purchasing stock directly from the company.

And finally, it is important to consider the fees associated with buying stock directly from a company. These fees can vary depending on the company and the broker used to purchase the stock.

Can I trade stock without a broker?

It is possible to trade stock without a broker in South Africa. There are a number of online platforms that allow you to do this.

The main downside of trading without a broker is that you will have to pay fees. If you are comfortable with doing your own research and are confident in your ability to pick winning stocks, then trading without a broker can be a great way to save money. Just be sure to consider the fees before making any decisions.

How much money do I need to start trading?

Share trading is a risky endeavour, and you should only invest money that you are prepared to lose. With that being said, let’s take a look at some of the costs associated with share trading so that you can get a better idea of how much money you might need to start.

The first thing you need to be aware of is the brokerage fee. This is the fee charged by your broker for each trade you make. Brokerage fees can vary significantly from one broker to another, so it’s important to shop around and compare fees before choosing a broker.

You will also need to pay the government stamp duty on each trade. The amount of stamp duty you pay will depend on the type of shares you are trading and the value of the trade.

At last, you need to consider the cost of the shares themselves. The price of shares will vary depending on a number of factors, such as the company’s performance, the overall market conditions, and supply and demand.

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