Choosing the cheapest share trading platform South Africa is not an easy task since there are too many online brokers that accept SA traders. Unfortunately many of these stock brokers are scammers. Therefore we took all popular online brokers and tested them one by one comparing their fees, account minimum deposits, quality of customer support, reputation etc.
In this guide we review reputable, regulated cheap share trading platforms in South Africa.
The Cheapest Share Trading Platform South Africa
Based on our tests, this is the list of the cheapest share trading platform South Africa to consider:
- AvaTrade – Share CFDs Platform with Fixed Tight Spreads
- Capital.com – The Best Share Trading Platform in South Africa in 2022
- Plus500 – Easy to Use Share CFD Platform for Beginners
- CM Trading – FSCA South Africa Regulated
- XTB Africa – Low Commision Shares & ETF funds
- IQ Option– Best Platform for Binary Options
- IG – Excellent Shares CFD Online Broker
Review of the Cheapest Share Trading Platforms in South Africa
1. AvaTrade – Winning Share CFDs Platform with Fixed Spreads
AvaTrade broker 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 platform for binary options in South Africa. 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.
- Awarded “Best Share CFDs Broker South Africa 2022”
- CFD Crypto, Forex, Stocks trading, Indices, Commodities
- Safe and regulated broker by South African FSCA regulator
- 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 dollar
- Fast withdrawals
- US clients not accepted
2. Capital.com – Zero % Commision – The Best Share CFD Platform in South Africa
Capital.com 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 Capital.com platform for CFD daytrading with good leverage and low spreads.
Capital.com provides an access to over 3,000 global shares.
- 0% COMMISSION AND TIGHT SPREADS
- Broker’s minimum deposit $100
- Zero Deposit Fees
- Local South African trading platform , with great local customer support
- CFD on stocks with leverage up to 1:200
- Fast withdrawals
- only CFD on stocks
Plus500 is considered safe FSCA Africa regulated CFDs share trading broker.
World famous Plus500 has successfuly entered South Africa many 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.
Plus500 is beginner friendly, huge leverage of 1:500 that allows you to speculate with insane low minimum deposit of $100.
You can trade all world markets, chat with other traders, follow them online and have fun!
- User friendly and easy to use shares CFDs trading platform
- Regulated by FSCA South Africa
- CFDs on Shares, Forex, Oil, Bitcoin, Crypto
- Fast withdrawals
- only Stock CFDs
- Metatrader not available
4. XTB Africa
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”
- Real Stocks trading
- CFD Crypto currencies trading
- CFD Forex trading
- ETF Funds
- FSCA License in South Africa
- Broker’s minimum deposit $10
- Many local ZAR depositing options available!
- Local South African bank fund deposits
- There are over 1600+ Real stocks and ETF indexes available
- Real stocks with cheap commisions from 9.99 USD
- Fast withdrawals
- No Metatrader platforms
Online trading 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 from the best 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!
- 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 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 online broker XTB, 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.
XTB Africa broker offers the following financial instruments:
- 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
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