Best Brokers in South Africa
Formed in 1887 during the first South African gold rush, the Johannesburg Stock Exchange (JSE) is one of the world’s largest exchanges by market capitalisation and the largest exchange in Africa. It is located in Sandton, Johannesburg, South Africa, after it moved from downtown Johannesburg in 2000. Stock, funds, bonds, and derivatives are traded on the JSE.
The JSE provides a market where securities can be traded freely under a regulated procedure. It not only channels funds into the economy, but can also provide investors with returns on investments in the form of dividends.
The JSE’s Equity Market connects buyers and sellers interested in exposure to South African listed companies, dual listed companies from across the globe and a variety of listed products and has been in operation for more than 120 years.
The JSE describes itself as the “engine room” of the South African economy, providing an orderly market for dealing in securities. The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management.
That being said, South Africa is a popular destination for trading brokers. You will find that some of the best brokers in the industry operate from there. If you are looking for a suitable broker, you certainly won’t be short of options. However, that does mean it can be harder to find the right broker. That’s why we have complied this handy guide to help you along the way.
Here you will find the best South African brokers according to the many hours of research, testing, analysis and comparison that we have conducted across hundreds of brokers. By having all of the best brokers listed in one place, we aim to make it quick and easy for you to identify the best broker in South Africa according to your own individual needs.
Top 10 Brokers South Africa
In order to be included within our best brokers in South Africa list, the broker should be regulated and offer top trading conditions, including tight spreads, low fees, lots of liquidity and rapid execution speeds. They should have a choice of easy to use yet powerful trading platforms and trading apps along with a wide selection of quality trading tools for comprehensive market analysis and to assist you with your daily trading activities.
Other factors that we consider to be important when choosing the best South African broker include the variety of account types, funding options provided, reputation within the industry, customer support and range of financial instruments available to trade online. We also like to see enough educational resources provided to help beginners learn more about trading and investing online.
That being said, we have chosen these as the best brokers for South Africans as they meet our criteria and are regulated by the Financial Sector Conduct Authority (FSCA). They have passed our strict broker reviews with flying colours and been awarded a top broker rating for the excellent range of trading and investing services that they provide.
ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA
AvaTrade are one of the most regulated brokers in the world with powerful platforms, thousands of assets and zero commissions. They have platforms, tools and educational resources for traders of all experience levels. AvaTrade promotes a fully transparent trading policy to all of its traders.
From developing the best educational materials out there, to providing daily market analysis updates and live webinars, AvaTrade are as interested in your success as you are. You can get convenient access the world’s most popular instruments, ranging from forex pairs to CFDs on stocks, indices, commodities, and cryptocurrencies – all at the palm of your hand.
Hedging is allowed, without any restrictions on short selling and scalping. They provide fast and reliable order execution, as well as ultra-low spreads. You can take advantage of automated trading systems, copy trading platforms and 24/7 crypto trading. They also have an innovative and unique risk management tool called AvaProtectTM, and the excellent Trading Central automated analysis add-on.
IG have a longstanding commitment to South Africa and have received numerous industry awards for the excellent range of financial products and services they offer South Africans. Established in 2010, IG Markets South Africa Limited (IGMSA) has been regulated by the FSCA (formerly the FSB) operating with a FAIS license and is an over-the-counter derivative provider.
IG give South African traders flexible access to more than 18,000 global markets, with reliable execution speeds, best in class trading platforms, excellent trading tools and transparent trading fees. Currently, IG is home to more retail forex traders in South Africa than any other forex broker.
The South African entity of Markets.com are there to offer specific content, support and insight into the African markets, so that traders can make informed decisions and make the most of every opportunity available to them. From leveraged products to a portfolio builder, you can control everything from one account on an intuitive, cutting-edge platform.
From fundamental, to technical and sentiment tools, they give you everything you need to trade smarter. The broker has a superb knowledge centre which is filled with essential tips and information about every aspect of trading and investing online safely.
At Markets.com, they provide the expert tools and the tech to support every type of trader all backed by the security of an experienced name with support that’s there whenever needed 24/5.
FXTM is a well-regulated forex broker that accepts traders in South Africa. They have a great selection of currency pairs to trade and a reasonable amount of other financial instruments including stocks and commodities. They have user-friendly trading platforms, various account types and funding methods, along with a vast range of educational materials and trading tools to help you make informed trade decisions.
XTB is a leading trading broker that supports speculation on a great range of more than 2,100+ financial instruments across various asset classes including Forex, Indices, Commodities, ETFs and more. Applying for an account is quick and easy with a secure online form, and you could be trading within minutes.
Beginners can make use of an extensive video library and get to know more about trading. The XTB Trading Academy contains comprehensive courses from basic to intermediate and expert levels. The broker has a very responsive multilingual customer support team ready to help you 24/5.
With superior execution on a reliable, award-winning platform, XTB are one of the largest stock exchange listed CFD brokers in the world. They have excellent trading conditions for day traders in South Africa and a plethora of high-quality trading tools to help you at every stage of your trading journey.
Founded in 2009, FXPRIMUS is an online trading broker with great emphasis put towards client safety and education whilst utilising new technologies to continue to try and improve their offering to traders. They have very competitive trading conditions including spreads from 0.0 pips, low fees and quick execution speeds.
Trade.com is an established online broker that has a huge range of over 100,000 financial instruments which you can trade on user-friendly platforms for web, desktop and mobile. There are plenty of superb tools to help with your market analysis including Trading Central. However, they do lack in educational content for beginners and don’t have the lowest spreads.
Eurotrader is a regulated broker that offers online trading of Forex, Stocks, Indices, Commodities and Cryptocurrencies. They provide traders with the intuitive MetaTrader platforms for multiple devices, tight spreads, low fees, various account types and multiple funding options.
CM Trading are South Africa’s largest online broker providing traders across the globe access to trade a wide range of Forex and CFD instruments on popular trading platforms with a good selection of educational materials and regular market analysis for inspiration.
HF Markets is a multi-regulated broker with a great selection of financial instruments for trading on the user-friendly MetaTrader platforms with competitive fees. You get access to a good range of trading tools for market analysis and educational content to help make informed decisions.
Whilst this article covers what we consider to be amongst the most important things to consider when choosing a broker in South Africa, it can differ depending on your individual preferences. Thus, it is important that you choose a broker that meets your needs and use this information only for educational purposes and not as advice. Take your time to research brokers and conduct your own due diligence. You can even test a broker with a free demo account to see if they are suitable before making a commitment. Please feel free to use our broker comparison tool if you are looking for some further inspiration to help you choose a broker.
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