Best Trading Platforms & Brokers in South Africa

Looking for the best trading platform in South Africa?

We have done the research for you and listed all the best trading platforms in South Africa in this article.

We cover everything from forex and stockbrokers to cryptocurrency brokers and mobile trading platforms.

Which are the best trading platforms & brokers in South Africa? See below.

Risk Warning:

Your capital will be at risk when using any of the recommended brokers on this page. Never invest money you can’t afford to lose. Using high leverage can result in big losses. Between 65-89% of retail investors lose money when trading contracts for difference (CFD). Bullmarketz may be compensated by some of the brokers listed on our website.

Is CFD Trading allowed in your country?

CFD Regulation Country by Country. The CFD trading services we are listing in this article is available in the following countries.

Europe:

  • Albania
  • Bosnia & Herzegovina
  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Kosovo
  • Latvia
  • Lithuania
  • Macedonia
  • Malta
  • Moldova
  • Montenegro
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Russia
  • Serbia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • Ukraine
  • United Kingdom

Excluded: Belgium

North America

  • Belize
  • Canada
  • Costa Rica
  • Cuba
  • Guatemala
  • Honduras
  • Jamaica
  • Mexico
  • Nicaragua
  • Panama
  • Puerto Rico
  • The Bahamas

Excluded: United States

South America

  • Argentina
  • Bolivia
  • Chile
  • Colombia
  • Dominican Republic
  • Ecuador
  • Guyana
  • Paraguay
  • Peru
  • Suriname
  • Uruguay
  • Venezuela

Excluded: Brazil

Africa

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burkina Faso
  • Burundi
  • Cameroon
  • Central African Republic
  • Chad
  • Democratic Republic of Congo
  • Egypt
  • Eritrea
  • Ethiopia
  • Gabon
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Kenya
  • Lesotho
  • Liberia
  • Libya
  • Madagascar
  • Malawi
  • Mali
  • Mauritania
  • Morocco
  • Mozambique
  • Namibia
  • Niger
  • Nigeria
  • Republic of the Congo
  • Rwanda
  • Sierra Leone
  • Somalia
  • South Africa
  • South Sudan
  • Sudan
  • Swaziland
  • Tanzania
  • The Ivory Coast
  • Togo
  • Tunisia
  • Tunisia
  • Uganda
  • Western Sahara
  • Zambia
  • Zimbabwe

Middle East

  • Georgia
  • Armenia
  • Azerbaijan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Cyprus
  • Israel
  • Jordan
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Qatar
  • United Arab Emirates
  • Oman
  • Yemen

Asia

  • Afghanistan
  • Bangladesh
  • Cambodia
  • China
  • China
  • India
  • Indonesia
  • Japan
  • Kazakstan
  • Kirgizistan
  • Laos
  • Malaysia
  • Mongolia
  • Myanmar
  • North Korea
  • Pakistan
  • Papua New Guinea
  • Philippines
  • Singapore
  • South Korea
  • Sri Lanka
  • Thailand
  • Turkmenistan
  • Uzbekistan
  • Vietnam

Excluded: Hong Kong

Oceania:

Tested Trading Platforms:

  • eToro
  • Markets.com
  • 24Option
  • IQ Option
  • BDSwiss
  • HotForex
  • Trade.com
  • Libertex
  • Plus500
  • XTB
  • InstaForex
  • IG Markets
  • GKFX
  • LionsFX
  • Valutrades
  • XM
  • IronFX
  • Blackwellglobal
  • FPMarkets
  • AmanaCapital
  • Admiralmarkets
  • Alvexo
  • Bizintra
  • Pepperstone
  • Windsorbrokers
  • FXPro
  • ForexTime
  • HYCM
  • FXGrow
  • TeleTrade
  • Trader.online
  • Marketscube
  • Finmaxbo
  • FXCC
  • Oanda
  • Forex.com
  • LCG
  • CMC Markets
  • FXCM
  • iForex
  • IFC Markets
  • Aaatrade

Our Writer:

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

1. Plus500 – Advanced Yet Easy To Use CFD Platform in South Africa

Plus500 is considered to be one of the best CFD brokers in South Africa as well as internationally.

The broker has designed a state of the art trading platform, provides access to a great selection of assets, and has all the licenses needed to offer forex trading in South Africa, Europe, and more.

Plus500 is also known as an innovative leader in the industry, and they were first in the world with a Bitcoin CFD as well as the first with a trading app for Windows phones.

All things considered, Plus500 is a broker that we and many South Africans can’t get enough of.

License: FSCA, FCA ASIC, CySEC
Platform: The Plus500 platform
Assets: CFDs on currencies, stocks, commodities, cryptocurrencies
Demo Account: Yes

Read our Plus500 Review

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Find the best trading platform. You capital is at risk when trading. Be careful.

2. CMC Markets – Top Online Trading Platform in South Africa

CMC Markets, one of the world’s leading online brokers, is available to traders in South Africa.

In addition, CMC Markets offer several South African-based assets such as the index called South Africa 40 and currency pairs with the ZAR.

This broker also provides the opportunity to trade both CFDs or partake in spread betting, which gives you as a trader twice the opportunities to benefit from a range of markets.

In addition, CMC Markets provides access to two different platforms: MetaTrader 4 (mainly for forex trading) as well as Next Generation which is an advanced trading platform that you can adjust after your needs.

All things considered, when trading with CMC Markets, you’re bound to have a great experience.

License: the FCA, CySEC, and more
Platform: MT4 and Next Generation
Assets: 10,000+ plus – shares, indices, forex, cryptocurrencies, etc.
Demo Account: Yes

Read our CMC Markets guide for more details

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Find the best trading platform. You capital is at risk when trading. Be careful.

3. eToro – Social Trading, great for beginners. 

eToro is the only leading broker offering a social trading network in South Africa as well as an award-winning copy trading platform.

Copy trading is a practical feature that allows you to copy other successful traders while the social trading network can be used to interact with traders from all over the world.

This makes eToro a great broker for beginners and for traders that want to limit the time they spend researching and analyzing assets.

Lately, eToro has also started focusing on cryptocurrency trading, and they’re working on an international cryptocurrency exchange.

License: CySEC, FSCA, and FCA
Platform: Their own copy trading platform
Assets: Currencies, stocks, commodities, and much more
Demo Account: Yes

Read our eToro Review

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Find the best trading platform. You capital is at risk when trading. Be careful.

4. AvaTrade – Offers a Wide Array of Assets.

AvaTrade has developed a range of different trading platforms with specific purposes, and it’s one of the leading reasons why we consider them to be one of the best forex brokers in South Africa.

They also offer 50 of the world’s most popular currencies ranging from majors and minors including the South African Rand.

Even though AvaTrade was launched as a forex broker, the platform can be used to trade CFDs on everything from stocks and commodities to cryptocurrencies, making it one of the best trading platforms in the country.

License: FSCA, FCA, ASIC, CySEC
Platform: Several proprietary platforms
Assets: Currencies, stocks, commodities, ETFs, bonds, cryptocurrencies, and more
Demo Account: Yes

Read our AvaTrade Review

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Find the best trading platform. You capital is at risk when trading. Be careful.

5. IG Markets – One of the Best Trading Platforms in South Africa.

IG Markets is a brand of the huge British trading company IG Group. They are fully licensed to operate in Europe as well as in large parts of Asia and South Africa.

They also have several accounts designed to suit different traders from beginners all the way up to professional day traders.

The best part about this top forex broker is that they offer the MetaTrader 4 which is known around the world as the best trading platform and a great forex trading app.

IG Markets also has competitive prices for their assets and markets which makes them an excellent choice for beginners.

License: FSCA, CySEC
Platform: The MetaTrader 4 and their own software
Assets: Currencies, stocks, commodities, cryptocurrencies
Demo Account: Yes

Read our IG Markets Review

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Find the best trading platform. You capital is at risk when trading. Be careful.

6. City Index – Huge Selection of Assets Available in South Africa

City Index offers a combination of CFD and forex trading as well as spread betting and you can pick which type of trading you prefer.

You also have the option of picking one of the platforms offered and can adjust the platform to suit your personal trading style.

This broker’s selection of assets is huge and it covers more than 12,000 assets on all of the most popular markets in South Africa and the rest of the world. Whether you like stock or forex trading or if you rather spread bet commodities, City Index can accommodate you.

Similar to all top brokers, City Index also offers a free demo account which you can use to test the broker out and get some practice before you get started.

License: FCA
Platform: AT Pro + MetaTrader 4
Assets: Forex, stocks, indices, commodities, cryptocurrencies
Demo Account: Yes

Find out more in our City Index guide

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Find the best trading platform. You capital is at risk when trading. Be careful.

7. Forex.com – Global Online Broker for South Africa Traders

Forex.com is an FCA licenced broker that’s available in a majority of the world’s countries, including South Africa.

The broker has a satisfying selection of assets available (4,500 in total), with most of them being either currency pairs or stocks.

As a trader, you get to pick which platform you prefer to use and in case you have a hard time picking one, we recommend you start by opening a free demo account.

Also, there is no need to worry about the legitimacy of this broker. Not only is it fully licensed but it’s also one of the most well-established and trusted online brokers in the industry.

License: FCA
Platform: Forex.com + MetaTrader 5
Assets: Forex, stocks, indices, commodities, cryptocurrencies
Demo Account: Yes

Read all about this broker in our Forex.com review

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Find the best trading platform. You capital is at risk when trading. Be careful.

 

Best South African Forex Brokers and Companies

The forex market is the biggest market in the world and with big margins. For many years, forex trading has been the main market for South African traders as well, and the trend keeps growing with new brokers opening up continuously.

However, before you start trading forex in South Africa, you need to make sure you only use FSB regulated forex brokers, otherwise, you run the risk of being ripped off or even worse.

Note that FSB was recently changed to FSCA (Financial Sector Conduct Authority (FSCA).

Below is a curated list of the best forex brokers in South Africa which are all regulated by the FSCA.

1. AvaTrade

With a wide selection of trading platforms for both desktop and mobile as well as an extensive list of tradable currency pairs, there is really no doubt that AvaTrade is a top forex broker in South Africa.

They also have a very adjustable platform setup meaning it can be changed to suit your specific needs.

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Find the best trading platform. You capital is at risk when trading. Be careful.

2. IG Markets

The main reason why we consider IG Markets one of the best forex brokers in South Africa is that they offer the MetaTrader 4.

Unlike the MT5, the MT4 was designed strictly for forex trading, and it’s by far one of the best forex trading platforms in South Africa as well as the rest of the world.

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Find the best trading platform. You capital is at risk when trading. Be careful.

Best Stockbroker & Share Trading Platforms in South Africa

Using CFD brokers to trade stocks has many benefits such as quick execution, the possibility to use a small budget, highly regulated services, and more.

Luckily, many SA stockbrokers offer their share trading as CFDs, and you will definitely be spoiled for choice.

1. Plus500

If you’re looking to trade stocks in South Africa and prefer using derivatives such as CFDs, then Plus500 is your top pick.

This leading South African stockbroker has one of the best trading platforms in the industry as well as an almost legendary reputation.

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Find the best trading platform. You capital is at risk when trading. Be careful.

2. IG Markets

Besides being a great forex broker, as mentioned above, IG Markets also has a solid share trading platform.

With an IG Markets account, you gain access to all of the world’s favorite stocks and companies, and you can trade derivatives from the leading stock exchanges, including the Johannesburg Stock Exchange.

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Find the best trading platform. You capital is at risk when trading. Be careful.

3. eToro

Thanks to eToro’s genius copy trading feature, trading stocks has never been easier. Instead of spending hours upon hours doing research and analytic work, you can copy other successful traders.

In other words, even as a beginner, this leading stockbroker in South Africa lets you trade like you have years of experience. Moreover, the social trading platform is a great resource for knowledge, tips, and tricks.

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Find the best trading platform. You capital is at risk when trading. Be careful.

Best Cryptocurrency Brokers in South Africa

The cryptocurrency market is still a rather new concept in South Africa although it is quickly growing in popularity. At the moment, due to country regulations, the easiest way for South Africans to trade crypto is by using forex brokers.

Luckily, all the leading brokers were quick to get on the cryptocurrency bandwagon, and their platforms are optimal for this type of trading.

1. Plus500

Plus500 was the first broker in the world to launch a Bitcoin CFD, and they have remained at the forefront of the market ever since.

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Find the best trading platform. You capital is at risk when trading. Be careful.

2. AvaTrade

AvaTrade is another broker that was quick to adapt to the rise of cryptocurrencies, and today they offer one of the most extensive selections of digital currencies as derivatives.

To start trading crypto with AvaTrade, you pick the platform you like the best, register an account, and start trading. It’s as easy as one, two, three.

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Find the best trading platform. You capital is at risk when trading. Be careful.

3. eToro

Unlike other brokers, eToro has taken cryptocurrency trading to the next level. In early 2019, they even launched their own cryptocurrency exchange called eToroX which traders from all over the world are raving about.

In other words, eToro can be used as a cryptocurrency trading platform in South Africa or as a regular crypto exchange. The choice is yours.

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Find the best trading platform. You capital is at risk when trading. Be careful.

Best Trading Apps for Forex, Stocks & Crypto in South Africa

Today, more traders are trading on mobile devices than ever before. In fact, just over the last 2 or 3 years, we have seen a tremendous shift in the market where mobile trading is growing by the day.

As a result, the leading brokers are allocating more money to their mobile apps and trading applications, and we might soon see mobile trading surpass desktop trading.

In the center of this change, we find South Africa where many traders don’t own desktop computers and therefore are forced to trade on their smartphones.

But what is the best trading app in South Africa? Let us take a look.

1. AvaTrade

AvaTrade does not only provide one but several top tier South African trading apps that can be used to trade everything from stocks and forex to cryptocurrencies and even options (in certain places).

Better yet, all of their mobile software is of the highest quality and they are continuously updating and optimizing the software.

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Find the best trading platform. You capital is at risk when trading. Be careful.

2. Plus500

Plus500 has been spearheading the development of mobile trading apps in South Africa and the rest of the world for years. And in 2017, the broker saw close to 50% of all trades on their platforms come from mobile devices.

If you’re new to mobile trading, we suggest you open up a demo account first so that you can test the platform out before risking real money.

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Find the best trading platform. You capital is at risk when trading. Be careful.

How We Did This Test

When we evaluate and rate brokers in South Africa we look at certain things to decide whether they are safe to use and provide the tools needed to trade efficiently as well as the assets that traders are looking for.

In order to do this, we follow strict guidelines and we use a standardized test that all brokers are put through.

The process is not very difficult, but it is time-consuming and it does require attention to detail so it’s something we take pride in.

Below you can read more about how we created this page and how we were able to decide which brokers could be considered the best and which ones had to be left off the list.

1. Safety

Safety first is a concept we always abide by when reviewing brokers. If a South Africa broker can’t be considered safe, they can’t be considered the best either so this is where we start our reviews.

The only way to know if a broker is safe to use is to see if they are regulated. Two of the leading regulatory bodies in the world are based in Europe and it’s the Financial Conduct Authority of England (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

Generally speaking, a license from any of those two agencies is enough for us to consider a broker safe.

However, a broker operating in South Africa also needs to be regulated in South Africa.

This used to be done by the Financial Services Board (FSB) but in early 2018, the FSB went through a complete makeover, and today they are known as the Financial Sector Conduct Authority (FSCA).

That means that any of the best trading platforms in South Africa have to be approved, licensed, and regulated by the FSCA for us to even consider them for this list.

Note that the FSCA is considerably stricter than the FSB, meaning the SA trading industry has become much safer since they took over.

2. Platforms and Tools

Next, we take a look at the platform that the broker offers. Is it a platform that we already know of such as the MT4 and the MT5? If so, we know that it’s more than sufficient, although we still take it for a quick test drive to see if the broker added any additional features.

On the other hand, if a broker has designed their own platform, we need to perform a detailed review of it.

This means that we test every feature, function, and addon that comes with the platform. This is done using both a demo account and a real money account, and it often requires many hours of testing.

When we’re done with the tests and we’ve decided that the platform is good enough to be considered one of the best in South Africa, we move on to the final step.

3. Assets and Availability

The last major part of our evaluation test is to check all the assets out. If it’s a forex broker we want to see a good selection of majors, minors, and exotic currency pairs, and if it’s a stockbroker, we want as many companies as possible to be listed.

That being said, most brokers that we’ve recommended above offer several markets, which means we have to evaluate them one by one.

Last Step in the Reviewing Process

After we’re done with the tests and reviews, we compile all the data and start comparing the brokers with each other and this is where our top lists are created.

Naturally, only the best of the best end up in our recommendations, but there are still many great brokers out there that you can use if you prefer.

So if you, for any reason, don’t feel like the top South African trading platforms above would fit you well, we suggest you check out our other broker reviews.

Our Author:

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

COMMENTS

WORDPRESS: 0
Between 73-89% of retail investor accounts lose money when trading CFDs.