Top Cheapest Share Trading Platform in South Africa

Choosing the cheapest share trading platform in South Africa is very important for profitable stock trading. If you want to  start online trading in SA you should consider safe & cheap platform first and foremost!

Stock broker will be responsible for conducting investment deals and keeping your trading account. However, finding a good online trading platform can be quite complicated because there is a large number of stock brokers operating in South Africa today, each of them  will claim to offer you the “best trading conditions” and the “lowest fees” which is of course a nonsense.

 The Cheapest Online Trading Platforms South Africa

 

  1. XTB Africa ⇒ The Cheapest Share Trading Platform South Africa
  2. CM Trading  Best CFDs Share Trading Platform in SA
  3. AvaTrade – Zero Commisions Real Stocks & ETF funds
  4. HotForex ⇒ Excellent Forex Trading Platform 
  5. IQ Option ⇒ Best for CFD stocks, Binary Options and Forex
BrokerMore infoTrust ScoreFSCA License nbr.BonusesMinimum depositZAR account Trading Platform
xtb logo

XTB South Africa

99% #49970-$5YES in ZAR,USDxStation 5 Webtrader
iOS/Android apps

CMTRADING

98% #38782up to $150 $250YES in ZAR,USDMetaTrader 4
iOS/Android apps

AvaTrade

98% #4598440% Bonus$100Yes in ZAR,USD,EURO MetaTrader 4
AvaOptions
AvaGO
98% #46632100% Bonus$50YES in ZAR, USD,EURMetaTrader 4 HF Copy

Plus500

80% #47546-$100YES in ZAR,USDWebTrader
iOS/Android apps

IQ OPTION

80% Seychelles FSA -$10YES in ZAR, USD Webtrader

#1. XTB  ⇒ The Best Online Trading Platform for South Africans in 2021

 

There are currently over 300 thousand active traders on XTB (and growing..). 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 an online trading platform recommended for daytraders who need leverage and also for long-term investors who buy and hold” 

Pros
  • Real Stocks trading
  • Crypto currencies trading
  • Forex trading
  • FSCA License in South Africa
  • Many local ZAR depositing options available!
  • There are over 1600+ Real stocks  and ETF indexes available
  • Real stocks with cheap commisions from 9.99 USD
  • CFDs on Stocks
 Cons
  • No Metatrader MT4 platforms

 

Stock commissionAmount
Real StocksFree 0% Commision
Deposit feeFree
CFD Stock TradingSpread + Swap fees apply
Bitcoin 0.75% fee
Withdrawing money5 USD
Inactivity fee10 USD per month after 1 year of inactivity
Demo accountFree of charge
Account setupFree of charge
Account currencyUSD, EURO

 

Visit www.XTB.com

 


#2. CM TRADING Best CFDs Share Trading Platform in SA + BONUSES

 

CM TRADING is highly reputable and of course FSCA regulated trading platform. It is one of the most popular CFD share trading platforms used by South African traders. You can use CMTRADING platform for CFD daytrading with good leverage and cheap fees, local customer support team located in Johannesburg is a benefit.

CM TRADING has offices in JOHANNESBURG and is recommended  for daytraders who need leverage to buy stocks on a margin!

Pros:

  • $100 BONUS for new traders
  • ZAR Account Broker
  • Low minimum investment of just $250
  • local SA trading platform , with local support
  • CFD on stocks with leverage up to 1:200

Cons:

  • only CFD on stocks

Visit www.cmtrading.com


#3. HotForex ⇒  Trading Platform with Ultra Low Fees 

 

The world famous binary options brand has successfuly transformed into “All In One” online trading platform for CFD trading.

Beginner friendly, huge leverage of 1:1000 that allows you to speculate with insane low minimum deposit of $10!

You can trade all world markets, chat with other traders, follow them online and have fun!

Pros:

  • world renowned forex platform
  • High leverage up to 1:1000
  • Forex, Oil, Bitcoin, Crypto

Cons:

  • mostly focused on forex
  • only Stock CFDs

 

HotForex is recommended for daytraders, thanks to leverage up to 1:1000.

Visit www.Pepperstone.com

 

 


Online trading platforms in South Africa

Online stock trading has moved from stock market parquets to the living rooms of entire population of the general population. 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.

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

How to choose online trading platform for traders in South Africa

 

1. Compare Stock 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 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:

 

“Beware, as some stock trading platforms in South Africa will charge you inactivity fees!”

Therefore, it is important to thoroughly compare the costs of each 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.

For example, eToro, on the other hand, relies on a simple fee structure with the opening and running of a free trading account, with no entry fee and just $200 minimum deposit. According to our information, the company 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.

In most cases, Investor pays a commission fee of 0.12% OR a minimum of $4.99 for  trading of European shares. The WallStreet trading fee is reduced to $ 4.99. On a less liquid stock markets, a fee can be little bit higher.

In eToro’s offer:

  • investor will find more than 1,800 real shares, including the big stars of the investor world like TESLA, Apple, Facebook, Google, and Amazon 
  • Besides real shares, you can also daytrade shares, which allows you to use leverage 1:5 and short stocks

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. Trading platform

Online trading can be cumbersome for you, especially if the software provided by the online broker is not called “user friendly”, ie it is not easy to use and the layout of the individual commands on the screen is not intuitive.

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 like 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