The Best Trading Platforms in South Africa for Stocks and Shares

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.

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
  • Best Stock Trading Platform for Beginners in South Africa: eToro
  • 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

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.

What we like

Real stock trading of the exchanges

Huge selection of international stocks.

What we don't like

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.

Features

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

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

9 users gave the score of 4.7/5
Total score:
star-full star-full star-full star-full star-empty

34,288 users gave the score of 3.98/5

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

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

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.

What we like

Offers MT4 and an Advanced Platform

Unparalleled forex service

What we don't like

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

Features

Fees: Commission-free forex trading
Demo Account: Yes
Min. Deposit: $100
Assets: 300 assets, including 80+ FX pairs.
License: FCA, CySEC, etc.

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

3 users gave the score of 4.7/5
Total score:
star-full star-full star-full star-empty star-empty

1,694 users gave the score of 3.18/5

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

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 the Best Stock Trading Platform for Beginners in South Africa?

eToro

No online broker does copy trading like eToro.

You can choose to trade on your own or copy other traders, and the social trading network is the perfect place to share experiences and learn new skills from other traders from all over the world.

What we like

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

What we don't like

Commission of CFD stocks.

High minimum deposit

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

Commission of CFD stocks.

High minimum deposit

Features

Fees: 0% commission on stocks, although not on stock CFDs.
Demo Account: Yes
Min Deposit: £200
Assets: Hundreds of stocks.
Deposit Options: Credit/Debit Cards, Skrill, Neteller, PayPal, Wire, Rapid Transfer
License: FCA, CySEC, ASIC

Ratings:
star-full star-full star-full star-full star-full

Rating by our editorial team

14 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-full star-empty

107,718 users gave the score of 4.22/5

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Using eToro’s copy trading platform, and their newly-launched CopyPortfolios, greatly improves a beginner’s shot at making a profit.

Combine all of that with an extensive educational resource, and it becomes clear why eToro is a great trading platform for beginners in South Africa.

Just don’t forget that eToro charges a higher fee for regular trading and even more for copy trading. Also, eToro’s rather high minimum deposit (£200) is not suitable for all beginners, so make sure that you can afford to use this broker before signing up.

Which is one of the Best CFD Trading Platform for Stocks in South Africa?

Plus500

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.

What we like

Easy to use mobile software

Competitive spread

Top rated in both app stores

What we don't like

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Easy to use mobile software

Competitive spread

Top rated in both app stores

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Features

Fees: Overnight Funding, Currency Conversion Fee and Inactivity fee (read more about Plus500 fees here)
Demo Account: Yes
Min Deposit: £100
Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

16 users gave the score of 4.4/5
Total score:
star-full star-full star-full star-full star-empty

100,420 users gave the score of 4.1/5

72% of retail CFD accounts lose money. Plus500 has been named the best CFD provider in the UK, Spain, and Germany by the Investment Trends 2019 Leverage Trading Report in the UK and Spain. In 2018, Plus500 was named the best CFD mobile platform by the Investment Trends 2018 Australia CFD report.

Plus500 offers a sophisticated trading platform for beginners to mid-level 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 forex trading, 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

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.

What we like

Real stock trading of the exchanges

Huge selection of international stocks.

What we don't like

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.

Features

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

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

9 users gave the score of 4.7/5
Total score:
star-full star-full star-full star-full star-empty

34,288 users gave the score of 3.98/5

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

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.

Top trading platforms

FAQ:

Where can I trade for free in South Africa?


The answer to this depends on how you classify free trading. When trading stocks as CFDs, for example, you are not charged commission.instead, you pay spread for each position you open and close.

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?


It’s easy to start trading online in South Africa. All you have to do is to find a regulated broker offering the markets you’re interested in. Then you open an account, deposit funds, and start trading. It’s really that simple.

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?


No, Robinhood is only available to American traders based in the United States. The company is planning an expansion in Europe, but it will likely take a few years before you can 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?


The easiest way to find the best stock broker in South Africa is to use our unbiased broker recommendations. For your convenience, we’ve listed all the best trading platforms and stockbrokers in South Africa in this guide.

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?


Yes, you can start trading with $100 in South Africa. In fact, several brokers have a minimum deposit limit of $100, making it easy to start trading with limited funds.

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.

Can I make a living day trading in South Africa?


Yes, but it’s not easy. Learning how to day trade like a professional takes a lot of practice and years of training. However, if you put your mind to it and accept the fact that you won’t make a profit while first getting started, you have all the chances in the world to make a living day trading in South Africa.

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.

Note: Don’t hesitate to leave a comment below in case you have any questions regarding trading apps, safety, day trading, investments, financial systems, or anything else that might come to mind while spending time on our website. We promise to answer you as soon as possible.

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.

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