Ever wondered how you find the best trading platform in South Africa? Then you’re in luck.
The easiest way to find a broker is to rely on our unbiased reviews of all the top trading platforms and online brokers in South Africa. That way, you know you’ll find a trusted and reliable broker that you can use for many years to come.
In This Guide
Our Top Stock Brokers & Platform Picks for South Africa:
- Best Stock Trading Platform in South Africa: IG Markets
- Cheapest Stock Trading Platform in South Africa: Forex.com
- One of the Best CFD Trading Platform for Stocks in South Africa: Plus500
- Best Free Stock Trading Platform in South Africa: IG Markets
Which is the Best Share and Stock Trading Platform in South Africa?
IG Markets is one of the oldest and biggest online brokers in the world.
This UK-based broker has been offering trading opportunities since the early 1970s.
Still to this day, IG Markets keeps trail blazing the industry and setting the standard for all other online brokers.
✔ Real stock trading of the exchanges
✔ Huge selection of international stocks.
✔ High minimum deposit.
✔ Commission on spread betting and CFD stock trading.
✔ Real stock trading of the exchanges
✔ Huge selection of international stocks.
✗ High minimum deposit.
✗ Commission on spread betting and CFD stock trading.
Fees: Low spread & commission.
Demo Account: Yes
Min Deposit: £300
Deposit Options: Visa, Mastercard, PayPal, Bank Transfer
Assets: 10,000+
License: FCA, ASIC, CFTC, MAS
IG Markets is a legendary name in the online trading sector. This British-based broker has over 40 years of experience in the field, and their focus on stock trading makes them the top stockbroker in South Africa.
With over 12,000 assets, most of which are stocks, including South African stocks, you gain access to an unparalleled trading experience.
Since IG Markets offers a range of different platforms, many beginners find it hard to figure out which one suits them the best.
The same problem also makes it harder to switch from investing in stocks to trading forex, or other assets, since you have to switch platforms for almost every market.
Which is the Cheapest Stock Trading Platform in South Africa?
Forex.com is a top forex broker with a great reputation, 80+ currency pairs, and a selection of trading platforms suitable for any and every trader.
Even though this broker offers other assets as well – mainly CFDs – what sets them apart from their competitors is their fantastic forex trading service.
✔ Offers MT4 and an Advanced Platform
✔ Unparalleled forex service
✔ Poor selection of CFDs
✔ Long processing times for certain withdrawals
✔ Offers MT4 and an Advanced Platform
✔ Unparalleled forex service
✗ Poor selection of CFDs
✗ Long processing times for certain withdrawals
Fees: Commission-free forex trading
Demo Account: Yes
Min. Deposit: $100
Assets: 300 assets, including 80+ FX pairs.
License: FCA, CySEC, etc.
Although it is mainly a forex broker, Forex.com offers a range of other assets on their online trading platform in South Africa. For example, you can use this broker to trade stocks, commodities, and cryptocurrencies as CFDs.
More importantly, Forex.com’s services are fairly priced. This includes commission-free online trading and extremely tight spreads on every position that’s opened or closed.
In addition, Forex.com has a minimum deposit limit of 100 ZAR (or equivalent in another currency), making it the cheapest online trading platform in South Africa today.
Which is one of the Best CFD Trading Platform for Stocks in South Africa?
When you trade with Plus500's app, you will be using the highest-ranked trading app for both Android and iOS.
You will also gain access to some of the world's best mobile trading features and a great selection of asset classes.
✔ Easy to use mobile software
✔ Competitive spread
✔ Top rated in both app stores
✔ Limited monthly transactions
✔ Only 2,200 CFD assets on offer
✔ Easy to use mobile software
✔ Competitive spread
✔ Top rated in both app stores
✗ Limited monthly transactions
✗ Only 2,200 CFD assets on offer
Fees: Overnight Funding, Currency Conversion Fee and Inactivity fee (read more about Plus500 fees here)
Demo Account: Yes
Min Deposit: £100
CFD Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS
Plus500 offers a sophisticated trading platform for day traders. Trading stocks as CFDs with Plus500 is both efficient and really easy to understand.
Also, as mentioned, Plus500 is one of the highest-ranking online brokers right now, effectively making it one of the best CFD trading platform for stocks in South Africa. Moreover, this broker offers CFD trading on forex, cryptocurrencies, commodities, and a range of other assets.
To us, Plus500 is a personal favourite and we’re confident that you will understand how great this broker is as soon as you, too, give it a try.
Which is the Best Free Stock Trading Platform in South Africa?
IG Markets is one of the oldest and biggest online brokers in the world.
This UK-based broker has been offering trading opportunities since the early 1970s.
Still to this day, IG Markets keeps trail blazing the industry and setting the standard for all other online brokers.
✔ Real stock trading of the exchanges
✔ Huge selection of international stocks.
✔ High minimum deposit.
✔ Commission on spread betting and CFD stock trading.
✔ Real stock trading of the exchanges
✔ Huge selection of international stocks.
✗ High minimum deposit.
✗ Commission on spread betting and CFD stock trading.
Fees: Low spread & commission.
Demo Account: Yes
Min Deposit: £300
Deposit Options: Visa, Mastercard, PayPal, Bank Transfer
Assets: 10,000+
License: FCA, ASIC, CFTC, MAS
IG Markets is not free to use when trading for real money. Unfortunately, there is no way to trade stocks for free in South Africa, at least not if you want to make a profit.
With that being said, IG Markets provides an unlimited demo account, which you can use to practice trading under real market conditions, using virtual funds. This creates a risk-free environment that is free to use, but without the option of profiting.
IG Markets has one of the biggest selections of markets in South Africa today. This makes the broker a perfect option to practice trading, regardless of the markets and instruments that you’re interested in.
FAQ:
Where can I trade for free in South Africa?
If you want to trade completely free in South Africa, we advise you to open a demo account with one of the above-mentioned brokers. That way, you can trade for free on an award-winning platform, although without the possibility of making a profit with real money.
How do I trade online in South Africa?
For more detailed instructions, please refer to the said broker’s website or our detailed reviews, where we include everything you need to know in order to register, activate, and verify your new trading account.
Can I use Robinhood in South Africa?
Luckily, there are several great alternatives that you can use to trade stocks and crypto in South Africa. We have listed all of the best South African brokers in this guide.
How do I choose the best stock broker in South Africa?
In addition, we provide guides and broker recommendations based on a range of criteria, as well as in several jurisdictions across the world, all to help you choose the best stock broker in South Africa.
Check the menu at the top of this page for links to our other guides.
Can I start trading with $100 in South Africa?
In our opinion, Forex.com is the best online broker if you want to trade cheap and limit yourself to 100 ZAR deposits. Although, there are other brokers with the same minimum deposit limit.
Conclusion
By now, you should have a clearer idea of the best trading platforms and online brokers in South Africa.
Keep in mind that all our recommended services are regulated, licensed, and safe to use. Also, our recommendations are based on hundreds of hours of independent research, meaning that you can always trust our recommendations to be accurate.
Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.Our Author:
Adam 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.
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