Best Trading Platforms in South Africa 2024

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Thadeus is a seasoned trading expert with a proven track record across forex, stocks, and cryptocurrency markets. Skilled in Investment Research, Trading Strategies, and Risk Management. Join Thadeus on your journey to financial mastery.

Ritesh A. is not only a market analyst and pro-trader but also a dynamic and engaging presence in the world of trading and analysis. He is passionate about sharing his knowledge and expertise.

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If you scour the internet today, you will be bombarded with hundreds of trading platforms available in South Africa. While that may sound appealing, it can make picking the right broker incredibly difficult. We want to make this process easier for you, so you can focus on developing your strategies and improving your profitability.

For that reason, our team went searching for the best trading platforms in South Africa. We identified numerous service providers at first. But, after spending countless hours evaluating and comparing the available options, our team narrowed the list down to the top 10 trading platforms in South Africa. But we didn’t stop there. Our experts tested these brokers and selected the 5 most outstanding ones.

In a Nutshell

  • South African traders have access to countless trading platforms. But, to ensure you end up with the right service provider, you must choose carefully.
  • While choosing the best trading platform, you must consider crucial factors like licensing, trading software, fees, and commissions. Don’t forget to read reviews and testimonials before signing up with a specific platform.
  • If you’re new to the online trading scene, educate yourself before risking any money. Use the free resources and demo accounts provided by the best trading platforms in South Africa.
  • Avoid trading with unregulated brokers. An ideal trading platform should be licensed and regulated by the FSCA in South Africa. Additionally, it will be safer and in the best interest of traders if the platform is also regulated by other respected international regulatory bodies.
  • We vetted the trading platforms in South Africa and picked 5 of the best. Our recommendations are based on first-hand experience and hours of research.

List of the Best Trading Platforms

  • Pepperstone – Overall Best Trading Platform in SA
  • Plus500* – Best Platform for Mobile Trading in SA
  • eToro – Best Platform for Social Trading in SA
  • FP Markets – Best Platform for CFD Trading in SA
  • AvaTrade – Best Platform for Educational Resources in SA

Note: 82% of retail investor accounts lose money when trading CFDs with this provider.

In This Guide

Compare Trading Platforms in South Africa

Our experts handpicked the brokers we’ve covered here. We spent many hours testing and evaluating each one. Our team also compared the most promising brokers and picked the crème de la crème among them. Our goal is to ensure you have a comprehensive list of promising brokers that are guaranteed to serve you well in the years to come.

While testing, evaluating, and comparing brokers in South Africa, we took numerous factors into account. These factors range from licensing and regulation to customer support and trading platforms they support. After extensive research, evaluation, and comparisons, we picked 5 of the best service providers.

The table below outlines the factors we considered while evaluating and ranking the best trading platform in South Africa.

Best Trading Platform South AfricaLicense & RegulationSupport ServiceSoftwarePayment MethodDemo Account
PepperstoneFSCA, FCA, ASIC, DFSA, CySEC, CMA, SCB, BaFin,24/5TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social tradingVisa, Mastercard, Bank transfer, Neteller, Skrill, PayPalYes
Plus500*

82% of retail investor accounts lose money when trading CFDs with this provider.

FSCA, CySEC, FCA, ASIC, FMA, MAS24/7Plus500 CFDVisa, MasterCard, PayPal, Skrill, Bank transferYes
eToroFSCA, FCA, CySEC, ASIC, SFSA ADGM, MFSA, FSAS, GFSC, SEC24/5eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart PortfoliosCredit/debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller Yes
FP MarketsFSCA, ASIC, CMA, CySEC, FSA24/7MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy TradingCredit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay Yes
AvaTradeFSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA24/5WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated TradingCredit/debit cards, Neteller, Skrill, Wire transfer, WebMoneyYes

Platforms Overview

Our team also compared the best trading platforms in South Africa based on what they charge and the assets they support. We did that because, as seasoned traders, we understand that trading with an affordable platform is the key to enhancing profitability. Additionally, having access to a variety of top assets is essential for advancing your trading career and diversifying your portfolio seamlessly.

The tables below provide a detailed comparison to help you find an affordable trading platform that offers the tools and assets you need to achieve your trading goals.

Fees

Best Trading Platform South AfricaMinimum Deposit RequirementCommission/ SpreadsDeposits/ WithdrawalsInactivity Fee
Pepperstone$0From 0.0 pipsFree$0
Plus500*$100From 0%Free$10 monthly
eToro$2,000 From 0%$5 withdrawal fee$10 monthly
FP Markets$100From 0.0 pipsFree$0
AvaTrade$100From 0.13 pipsFree$50 after every 3 consecutive months of inactivity

Note: 82% of retail investor accounts lose money when trading CFDs with this provider.

Assets

Best Trading Platform South AfricaStocksForexCryptocurrenciesCommoditiesIndicesETFsOptions
PepperstoneYesYesYesYesYesYesNo
Plus500* (CFDs)YesYesYesYesYesYesYes
eToroYesYesYesYesYesYesYes
FP MarketsYesYesYesYesYesYesYes
AvaTradeYesYesYesYesYesYesYes

Note: 82% of retail investor accounts lose money when trading CFDs with this provider.

Our Opinion About the Best Trading Platforms

Here are our opinions and thoughts about the best trading platforms in SA. Although we refer to them as opinions, they are based on insights gathered from extensive research and tests. Our team has worked tirelessly to ensure that we provide unbiased observations and advice. All our reviews are based on first-hand experience and insights gathered from hundreds of testimonials.

If you’re a beginner, don’t pick a platform from our list and jump into live trading straight away. First, open a demo account and use it to hone your skills. All platforms we’ve recommended here support demo accounts, so opening one shouldn’t be a problem.

1. Pepperstone – Overall Best Trading Platform in SA

We consider Pepperstone the best trading platform in South Africa for good reasons. First, this broker allows traders to deposit whatever amount they’re comfortable with. Unlike many platforms, this one has no minimum deposit requirement. Furthermore, it doesn’t have deposit, withdrawal, or inactivity fees and its commissions start from 0.0 pips.

We also hold Pepperstone in high regard since this platform supports diverse asset classes, from forex majors and minors to 1200+ CFDs on commodities, indices, cryptocurrencies, ETFs, and more. Furthermore, it provides users with a variety of popular platforms, including the Pepperstone Trading Platform, MT4, MT5, and cTrader.

Pepperstone

✔800+ instruments
✔No minimum deposit requirement

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2,809 User Reviews
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4,470 User Reviews
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1 User Reviews
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Our Rating
Total Rating:
7,280 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • No minimum deposit requirement
  • Low commissions starting from 0.0 pips
  • Zero deposit, withdrawal, and inactivity fees
  • Responsive customer support representatives
  • Top-notch platforms are supported, including MetaTrader 4 and 5
  • Quality educational materials

Cons

  • Only CFDs and FX pairs are supported
  • Higher swap rates than most peers

We identified numerous fees and costs on Pepperstone. First, from our exploration, we discovered that Pepperstone users are subjected to spreads and commissions that vary depending on market conditions and account type. This platform has two accounts: Standard and Razor. Both are associated with different charges and conditions. For instance, Razor accounts only attract commissions when users trade CFDs on Forex.

Pepperstone also charges overnight funding, which kicks in when a trader holds a position in commodities, equities, indices, metals, or cryptocurrencies overnight after 5 p.m. New York Time. This broker’s overnight funding charges vary depending on different factors, including underlying TomNext rate changes.

But here’s the best thing you can derive from our Pepperstone broker review, especially where fees are involved. Pepperstone doesn’t charge account inactivity fees. Moreover, this platform doesn’t charge a single dime for deposits and withdrawals. Furthermore, this broker has no minimum deposit requirements.

The product offerings on Pepperstone didn’t disappoint. This broker allows traders to open a universe of possibilities with diverse assets. We saw over 800 CFDs on this platform, including:

  • Commodities: Pepperstone allows traders to trade a wide variety of commodities. Available options include cotton, coffee, sugar, orange juice, cocoa, and more. Precious products like silver, gold, palladium, and platinum are also offered. You can use any of these assets to diversify your portfolio and minimize risk exposure, especially during market turmoil. The best part is that Pepperstone’s commodities come with zero commissions.
  • Forex: Are you a forex enthusiast? Check out Pepperstone’s products; we did, and they were impressive. This broker has everything, from majors to minors and exotics. Moreover, the platform lets you dive into forex trading while enjoying competitive spreads and low commissions. That’s not all. While trading forex on Pepperstone, you get flexible leverage and high-quality execution.
  • Indices: Pepperstone’s trading platform is chock-full of tradeable indices. They offer you the golden opportunity to capitalize on the movement of 14 major global stock markets. Pepperstone’s indices have no hidden markups, re-quotes, or dealing desk.
  • Currency indices: Pepperstone gave us ample opportunity to profit from shifts in the value of different currencies against baskets of other currencies. The platform did that through currency indices.
  • Shares: Upon joining Pepperstone, you can go short or long on a variety of top US shares. Available options range from Alibaba and Boeing to Apple and Tesla. Note that you need MetaTrader 5 to trade shares on Pepperstone.

2. Plus500 – Best Platform for Mobile Trading in SA

Over 20 million South Africans own smartphones. If you have one and would like to trade with it, we recommend doing so via the Plus500 trading platform. This broker has a fantastic mobile app that you can download today. With it, you gain access to thousands of CFD assets, including cryptocurrencies, indices, ETFs, and options.

We also recommend trading with the Plus500 mobile platform because of its user-friendly interface. It’s easy to navigate, even for beginners. Additionally, the app provides several advantages associated with the Plus500 broker, from spreads as low as 0.0 pips to fast order execution and flexible leverages of up to 1:300 for professional CFD traders.

Note: 82% of retail investor accounts lose money when trading CFDs with this provider.

Plus500

✔Available in 50+ countries
✔Easy account registration and setup

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82% of retail investor accounts lose money when trading CFDs with this provider.
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14,096 User Reviews
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102,000 User Reviews
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1,600 User Reviews
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Total Rating:
117,696 User Reviews
Pros & Cons
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Trading Assets

Pros

  • A meticulously-designed mobile app that prioritizes user-friendliness
  • Tight spreads and low commissions
  • CFDs on 2800+ assets, including FX pairs, commodities, and cryptos
  • Free deposits and withdrawals
  • Advanced analytical tools
  • 24/7 customer support

Cons

  • Investing in stocks and futures is not supported in South Africa
  • $10 inactivity fee
  • No third-party trading platforms

One thing we love about Plus500 is that the platform offers most of its services without charging a dime. Moreover, the company practices optimum transparency regarding any costs or charges. While trading on Plus500, we enjoy free deposits and zero internal withdrawal fees.

However, we had to incur reasonable charges, courtesy of the buy/sell spreads. The good thing is this broker lets you choose between dynamic and fixed spreads. We preferred fixed spreads since they allowed us to minimize risk during high volatility periods, especially when we were trading with smaller stakes. But, if you are a fan of swing trading and often deal with higher balances, you can check Plus500’s variable spreads. And don’t worry about paying commissions because Plus500 supports commission-free trades.

Depending on your trading activities on Plus500, you may also incur the following fees and costs:

  • Overnight funding: If you open a position and fail to close after a specific cut-off time, otherwise known as the Overnight Funding Time, Plus500 may add or subtract a certain amount of overnight funding from your account. Plus500 uses this formula to determine the exact amount of overnight funding to charge you: Trade Size x Position Opening Rate x Point Value x Daily Overnight Funding %.
  • Currency conversion fee: While trading on Plus500, you will incur currency conversion charges every time you dabble with an instrument whose currency denomination differs from your trading account’s currency. During our test, Plus500’s currency conversion fee was up to 0.7% of each trade’s net profit and loss.
  • Guaranteed stop order: Plus500 has a unique order type that guarantees the stop loss level even in highly volatile markets. You can use it to minimize losses and maximize returns, but it’ll cost you money. The fee comes in the form of a wider spread.
  • Inactivity fee: Suppose your Plus500 trading account stays dormant for over three months. Your company will charge you up to $10 per month. This fee enables Plus500 to cover the costs of maintaining your inactive account.

Plus500 primarily supports CFD trading. Therefore, this broker allows traders to speculate on the price movements of specific assets without owning them. Presently, this broker offers over 2800 CFD-related financial instruments, including:

  • Shares: Plus500 allows traders to invest in shares from numerous countries, including the US, the UK, South Africa, Spain, Singapore, Hong Kong, and Australia. The most popular options include NASDAQ, NVIDIA, Apple, Tesla, Netflix, and AMEX. Through this platform, you can also trade share CFDs from top cannabis companies like Canopy Growth, Aurora Cannabis, and Tilray Brands.
  • Forex: If you are a forex enthusiast, trading with Plus500 will allow you to invest in over 60 currency pairs. They include popular choices like EUR/USD, EUR/ GBP, GBP/USD, USD/CAD, and AUD/USD. Exotic pairs such as NZD/CAD, NZD/CHF, and CHF/DKK are also supported by this platform. Plus500 allows users to trade FX pairs from Monday at 08:00 Sydney time to Friday at 16:00 New York Time.
  • Cryptocurrencies:  You can trade crypto CFDs on Plus500. While trading crypto, you get up to 1:2 leverage. Unlike many other products on this platform, crypto trading is available 24/7. Not to forget, Plus500 gives you everything you need to interact with digital currencies. You don’t need to get a unique digital wallet or use an exchange account.
  • Indices: If you want to trade popular indices like US-TECH 100, France 40, and S&P 500, Plus500 should be your go-to broker. This platform supports all these indices and more. Moreover, it allows indices traders to enjoy leverages of up to 1:20.
  • Options: Plus500 allows investors to trade options with up to 1:5 leverage. The platform supports many options, including Natural Gas, the S&P 500, the US-TECH 100, NVIDIA, VIX, and ARM. Meta, German 40, and oil are also available on the platform.
  • ETFs: If you’re an ETF trading enthusiast, Plus500 offers you the opportunity to dive into the market with up to 1:5 leverage. And you can get started with as little as $100. Available ETFs range from USO-Oil Fund and GLD Gold to NUGT and VOO.
  • Commodities: Commodities are plenty on Plus500. You can choose anything that tickles your fancy, be it natural gas, oil, heating oil, silver, gold, or aluminum- the list is endless. While trading your favorite commodities, Plus500 allows you to exploit up to 1:20 leverage.

3. eToro – Best Platform for Social Trading in SA

eToro claims to be the world’s top social trading network, and rightly so. This platform boasts millions of users from 140+ countries, including South Africa. You can join eToro’s vast community through its CopyTrader feature, which allows you to follow and copy trades of professional traders. Simply search for a trader whose style and strategies match your trading needs.

We also recommend eToro because this platform offers over 5000 assets. With an eToro account, you can trade everything from popular cryptocurrencies to CFDs on currencies, indices, commodities, and more. Additionally, this platform allows you to invest in stocks, stake cryptos, and explore NFTs. Beginners will also enjoy the broker’s vast array of learning tools plus its $100,000 virtually funded demo account.

eToro

✔ 5,000+ instruments
✔ Features social and copy trading

Visit site
{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
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5 User Reviews
google
142,000 User Reviews
apple
31 User Reviews
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Our Rating
Total Rating:
142,036 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • 5000+ assets are offered to traders and investors
  • Commission-free stocks trading
  • Joining a thriving community of traders and investors is possible
  • Host an award-winning CopyTrader platform for social and copy trading
  • Rich educational tools and materials are provided

Cons

  • High minimum deposit requirement of $2,000 for South African clients
  • $10 monthly inactivity fee
  • All withdrawal requests attract a $5 fee

eToro doesn’t charge any account registration or deposit fees. We signed up and funded our account without incurring any costs. Of course, we had to adhere to eToro’s minimum deposit requirements, which vary depending on geographical location. For instance, the minimum amount you can deposit in your eToro account is $100 in the US or the UK. On the other hand, people in countries like Germany and Greece can deposit as little as $50. Visit eToro’s minimum deposit page to find out more.

That said, we encountered several eToro fees and expenses during our exploration, including:

  • A $5 fixed withdrawal fee: According to eToro, this fee is indispensable in covering international money transfer costs.
  • Currency conversion fees: All eToro accounts are USD-centered. If you fund your account or withdraw money using any other currency, expect to pay conversion fees. The charges vary depending on PIPs and payment methods. Luckily, traders can join the eToro club and enjoy significant discounts.
  • A $10 monthly inactivity fee: If you fail to log into your account for 12 or more months, you will incur a monthly $10 fee.
  • Crypto fees: eToro requires crypto investors to pay a 1% buy/sell fee. As an investor, you must also cover market spreads, which vary depending on market conditions. Transferring crypto to your eToro Money digital wallet also attracts a 2% fee. The crypto asset transfer fees are capped at 1$ minimum and a $100 maximum.
  • CFD spreads: Like many other brokers, eToro has CFD spreads that vary depending on assets and instruments.

eToro is chock-full of product offerings. From our exploration, we unearthed the following:

  • Stocks: We explored eToro’s stock offerings and encountered many juicy options commission-free. They include Apple, Microsoft, NVIDIA, and Meta.
  • Indices: After joining eToro, you can follow and invest in indices from multiple leading global markets. The indices on this platform vary from SPX500 to NASDAQ1OO and GER40. We recommend such indices to investors looking to diversify their portfolios and minimize risk exposure.
  • ETFs: eToro offers a wide variety of exchange-traded funds (ETFs). This platform has hundreds of ETFs, including popular options like SPY, VOO, INDA, and QQQ. The best thing about these products is that they are ready-made. Investing in them means you won’t have to spend time and energy cherry-picking assets individually.
  • Currencies: Our team discovered over 40 currency pairs on eToro. We tested a few popular options, including EURUSD, USDJPY, AUDJPY, USDCAD, and EURCAD. We also found numerous exotic pairs on this platform, such as EURHUF, USDTRY, EURPLN, and USDILS.
  • Commodities: eToro gives traders uncapped access to 40+ commodity markets, making it a superb platform for speculators or retail investors. Through this broker, you can trade and invest in commodities such as gold, oil, silver, corn, platinum, cocoa, and palladium.
  • Cryptoassets: eToro has 100+ vetted cryptoassets, including popular ones like Bitcoin, Ethereum, Solana, and XRP. You can buy, sell, and transfer most of these digital currencies to your eToro Money wallet.

4. FP Markets – Best Platform for CFD Trading in SA

We recommend FP Markets to South Africans who are planning to venture into CFD trading. Founded in 2005 in Australia, FP Markets is a reputable trading platform that caters to millions of people. It offers you the opportunity to trade CFDs on shares, metals, indices, bonds, and other assets. Presently, this broker has over 10,000 tradeable CFD product offerings.

We also recommend trading CFDs with FP Markets because this broker supports a broad range of top-notch trading platforms, from WebTrader and cTrader to MT4 and MT5. Moreover, the platform supports copy trading. With this feature, you can automatically locate, follow, and copy the most successful traders. This means you don’t need to spend countless hours researching different markets or building unique trading strategies.

FP Markets

✔Free deposits and withdrawals
✔No inactivity fees

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7,142 User Reviews
google
0 User Reviews
apple
2 User Reviews
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Our Rating
Total Rating:
7,144 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • 10,000+ tradable CFD instruments
  • Offers diverse trading platforms, including TradingView, cTrader, and MetaTrader 4 & 5
  • Supports copy trading
  • 24/7 customer support
  • Spreads as low as 0.0 pips
  • Zero deposit, withdrawal, and inactivity charges

Cons

  • Most available instruments are CFDs
  • Payment methods like Skrill have withdrawal fees

The outstanding perks of using FP Markets include free deposits or withdrawals. This broker goes above and beyond by covering all internal bank fees arising from international transfers. Moreover, you can start your journey with a free demo account before switching to a live account. Keep in mind that FP Markets’ minimum deposit requirement is $100.

The other commendable thing is this broker has reduced non-trading costs and charges. Take inactivity fees as an example. Unlike many of its peers, FP Markets doesn’t penalize dormant accounts. So, you can stay logged out of your account for as long as you like without fretting over accumulating fees.

That said, we encountered numerous other FP Markets fees and costs. Although you can open a Standard account, which comes with 0 commissions, you’ll still face variable spreads, starting from 1.0 pips. On the other hand, IRESS, FP Markets’ sophisticated premium platform, has commissions that vary depending on geographical location. IressTrader/ViewPoint also has a mandated $60 fee. Luckily, there are free alternatives like MT4 and MT5, which have no platform fees.

FP Markets lets its clients pick their favorite assets from over 10,000 tradable instruments. This broker mainly deals with CFDs, which let you trade and capitalize on price movements in different markets. But you can also trade forex here.

Below is a comprehensive list of all FP Market’s product offerings:

  • Forex: You can trade forex with FP Markets and access 70+ currency pairs, flexible leverages of up to 500:1, and minimum spreads of up to 0.0.
  • Shares: FP Markets offers you the opportunity to trade 10,000+ Australian and international share CFDS. The share CFDs come from different markets, including London, Amsterdam, and Hong Kong.
  • Metals: If you’d like to trade metal CFDs, try FP Markets. This broker gives you access to tradeable CFDs related to precious metals like gold, silver, and palladium.
  • Indices: Various index CFDs are supported by FP Markets. They range from EUREX TO NASDAQ 100 and S&P 500.
  • Commodities: FP Markets allows you to diversify your portfolio by trading commodities CFDs. You will get uncapped access to CFDs related to diverse commodities, including gold, silver, and oil.
  • Cryptocurrencies: With an FP Markets account, you can trade crypto CFDs whenever you like. The platform supports popular digital currencies, including Bitcoin, Ripple (XRP), and Ethereum.
  • Bonds: Bond trading is available on FP Markets. It’s a fitting option for traders who prefer dealing with lower-volatility markets.
  • ETFs: The FP Markets trading platform offers a wide variety of ETFs, including ACWI, EEM, and QQQ.

5. AvaTrade – Best Platform for Educational Resources in SA

Educating yourself is indispensable to fueling your success as a trader, especially if you’re just starting out. With that in mind, AvaTrade is an excellent choice for novices. This broker has an impressive education center catering to South African traders. It offers free educational resources that range from basic tutorials to guides that cover the most advanced trading strategies.

After exploring AvaTrade’s free educational materials, you can test your skills with its $10,000 virtually-funded demo account before transitioning to live trading. Moreover, AvaTrade hosts AvaSocial, DupliTrade, and ZuluTrade platforms that allow users to interact with expert traders and copy their potentially profitable positions. When it comes to market analysis tools, AvaTrade hosts plenty of options on its WebTrader, MT4, and MT5 platforms.

AvaTrade

✔Low minimum deposit requirement
✔Features automated trading on its copy trading platform

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8,859 User Reviews
google
10,200 User Reviews
apple
25 User Reviews
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Our Rating
Total Rating:
19,084 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Exemplary educational resources
  • Wide variety of trading platforms, including WebTrader, MT4, MT5, the AvaTradeGO App, AvaOptions, and Mac Trading
  • Amazing customer support
  • Free deposits and withdrawals

Cons

  • Higher inactivity fees of $50 quarterly after only three months of account dormancy
  • The DupliTrade platform has a high minimum deposit requirement of $2,000

AvaTrade charges low fees for trading and non-trading services. When we started with the broker, we found the first deposit requirement of $100 or its equivalent to be low. Plus, all deposits and withdrawals at AvaTrade are free.

Commissions and spreads at AvaTrade are also low in our opinion. For instance, trading forex attracts low fees from 0.9 pips on major currency pairs. We also tried trading stocks and incurred low charges from 0.2 pips.

On the downside, AvaTrade charges a high inactivity fee of $50/£50/€50. This depends on your account currency. The fee applies should your account remain inactive for over three months. Plus, there is an annual administration fee of $100/€100/£100 after 12 months of inactivity. Other fee to expect with this broker is overnight charges for positions left overnight. Its margin rates are also low, from 3.33%, depending on your jurisdiction.

It is important to note that while AvaTrade offers social trading, accessing this feature via the DupliTrade and ZuluTrade platforms can be costly for low-budget traders. You are required to deposit at least $2,000 for DupliTrade and $200 for ZuluTrade platforms.

At AvaTrade, we explored over 1250 CFD instruments across multiple asset classes. We like this element, as it will make it easier for you to diversify your portfolio on a single platform. Let’s explore AvaTrade’s featured securities below.

  • Forex: AvaTrade lists over 50 currency pairs, including major, minor, and exotic.
  • Commodities: AvaTrade offers over 19 CFD commodities, including crude oil, gold, copper, natural gas, and more.
  • Cryptocurrencies: Enjoy 20+ crypto tokens at AvaTrade. Popular examples include Bitcoin, Litecoin, Solana, Dogecoin, and more.
  • Stocks: You will trade over 600 stocks, including prominent companies like Tesla, Netflix, Apple, Google, and more.
  • Indices: Over 30 stock index CFD assets are also available at AvaTrade.
  • ETFs: For ETF traders, this broker exposes you to over 60 options, all of which you can trade at low spreads.
  • Bonds: When it comes to bonds, AvaTrade only offers two options, including EURO-BUND and JAPAN GOVT BOND.

This broker only supports forex and CFD trading instruments. This means that you cannot use AvaTrade to buy an asset and take full ownership.

Before engaging in CFD trading, understand that the activity carries risks. Over 76% of retail traders lose money in this venture. Therefore, understand what CFD trading is and the risks that come with it before investing your hard-earned money.

Online Trading in South Africa

Online Trading in South Africa

In South Africa, trading platforms are regulated by the Financial Sector Conduct Authority (FSCA). This is the principal regulator in SA, responsible for supervising and regulating online trading in the region. All the exceptional trading platforms we’ve reviewed here are authorized and regulated by the FSCA, so you can trade and invest with confidence, without worrying about losing your assets or encountering fraudulent activities.

Overall, never trade with an unregulated broker. This is primarily because you do not want to fall victim to scammers and lose your hard-earned money. Regulated brokers provide the best trading environments and secure your funds in segregated accounts. Additionally, it’s easier to take legal action against them in case they breach the terms of your agreement.

Before signing up with any provider, check if it is licensed and regulated by the FSCA and respected international regulators, such as the FCA and ASIC. Also, use the tips discussed below that can help you find the best broker for your trading and investment needs.

How to Choose the Right Trading Platform SA

You should be careful when choosing a trading broker since the platform you use will determine if you succeed in the long run or fail prematurely. Consider the following factors when selecting a suitable broker:

Licensing and Regulation
Tradable Assets
Supported Platforms
Customer Support
Online Reputation

We can’t stress this enough. Before committing to a specific platform, check if it’s licensed and regulated. A broker that the FSCA and other authorities regulate is more likely to uphold transparency and obey mandates put in place to protect your assets. A licensed platform is also likely to adhere to top-notch ethical standards and avoid unfair practices.

It’s essential to choose a platform that supports the specific assets you want to trade or invest in. If you join a platform that lacks the necessary assets, it will hinder your trading activities and waste your time. Additionally, for portfolio diversification purposes, prioritize platforms that offer a wide range of assets.

An ideal broker should offer all your preferred trading platforms. Moreover, the company’s proprietary platform should have a well-designed, user-friendly interface. If you’re a beginner, choose brokers with demo accounts to help you gauge your skill level in a risk-free environment. For traders who are always on the move, prioritise platforms with trading apps to efficiently manage your activities on the go.

At some point, you will face a challenge or query that requires professional assistance. To enjoy prompt resolution, sign up with a trading platform with quality customer support. Moreover, when choosing a suitable broker, check support availability. If you prefer trading every day, including over the weekend, ensure your chosen broker provides 24/7 customer support.

Checking a broker’s online reputation will enable you to identify any red flags before making a financial commitment. Visit Trustpilot, the App Store, and Google Play and check what other users say about your preferred platform before signing up. Pay attention to repeated complaints, especially regarding poor customer service, prolonged transaction delays, and fraudulent practices.

How To Register an Account with a Trading Platform SA

If you’re a rookie, you likely don’t know how to open a trading account, and that’s okay. The good news is that the best trading platforms in South Africa have simplified the registration process. All you have to do is follow a few steps and submit the required information and documentation. This is the tricky part. Regulations require trading brokers to ask for personal info from new signees. If you provide inaccurate or invalid details, your application will be denied. So be careful.

That aside, this brief guide will help you set up a trading account quickly:

Step 1: Visit the platform’s official site
Step 2: Fill out the application form
Step 3: Submit the required documents
Step 4: Make a deposit and start trading

Visit your chosen trading platform’s official site and look for the sign-up or registration button. Before you start the account registration, start by understanding the broker’s terms of service. If you want to trade with your phone while on the move, install the broker’s mobile app on your Android or iOS device for convenience.

Once you are done with step 1, click the register or sign up button. As a new signee, your trading platform will ask you to fill out application forms with the required information. This may include your name, date of birth, phone number, and more. The broker may also ask for your employment and financial details. Fill out the forms with the correct info to avoid rejection or account termination in the future. Most importantly, create a unique username and strong password for added security.

Most brokers in South Africa require clients to go through KYC (Know Your Customer) procedures. They ask new customers to submit certain documents that prove their identity and location. These include a picture of a government-issued ID and a recent bank statement or utility bill. If your chosen broker requests such documents, submit them. Otherwise, your account won’t be approved.

After filling out the forms with valid details and submitting the relevant documents, wait for your broker to process and approve your application. This should happen within a few hours if you sign up with one of the best trading platforms in SA. Once your application is approved, deposit money into your trading account, pick an instrument, and start trading.

Conclusion

The best trading platforms in South Africa range from Pepperstone to AvaTrade. We have reviewed them here and highlighted the features that make them exceptional. Your job now is to compare them based on factors like fees, platforms, and instruments and identify one that suits your needs and preferences.

Before you dive into that, remember that trading is risky. If you’re a novice, dedicate enough time to mastering this craft and improving your skills. Finally, test your readiness with a demo account.

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