Best Stock Brokers South Africa 2020

Here you will our best South African stock brokers of 2020 based on our unbiased stock broker reviews and ratings. The Trading Brokers expert research team have researched and analysed hundreds of online stock brokers to save you time when choosing from the best stock brokers in the South Africa. In order to make it into our best stock brokers South Africa list, the online stock brokerage firm should provide traders with a large selection of global stocks for trading on the best trading platforms and have competitive fees. They should offer a selection of trading tools for analysing the stock markets and educational resources to help traders to increase their knowledge of the stock markets and improve their trading skills. In addition to this, the stock broker should have a choice of flexible account types to cater for different investment sizes and experience levels. Most importantly, a South African stock broker should be authorised and regulated to accept stock traders in South Africa. With there being so many South African stock brokers for traders to choose from, we have compiled a list of our best stock brokers in South Africa below.

Min $250 Deposit

NSBroker is a regulated trading broker that provides online trading of Forex & CFD instruments via the powerful & intuitive MetaTrader 5 platform. The broker offers tight spreads, low commissions & reliable execution speeds.

Terms & conditions apply
Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose all your capital. Your capital is not guaranteed and may go down as well as up. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. Seek independent advice if necessary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Over the past 12 months 54.6% of NSFX Limited’s retail investor accounts lose money when trading CFDs with NSFX Limited. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top 3 Stock Brokers South Africa 2020

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ASIC, BVI, CBI, FFAJ, FSA, FSCA

Min $100 Deposit

2006

1:400

Review Open Account Open Account
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2.

ASIC, CySEC, IFSC

Min $5 Deposit

2009

1:880

Review Open Account Open Account
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3.

ASIC, FCA, DFSA

Min $200 Deposit

2010

1:500

Review Open Account Open Account
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
We have selected these as our best South African stock brokers primarily due to their strict regulation and established reputation within the online stock brokerage industry. They have passed our stringent stock broker reviews with flying colours and been awarded a top stock broker rating according to our findings that have considered a number of important factors for trading stocks online in South Africa.

1. AvaTrade

AvaTrade is an award-winning trading broker with regulation in 6 jurisdictions offering 250+ trading instruments across multiple markets and trading platforms.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2. XM Group

XM Group is a multi-award winning globally established and regulated trading broker with over 2.5m clients from 196 countries offering no-requotes, low spreads, fast execution and negative balance protection.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

3. Pepperstone

Pepperstone is one of the largest trading brokers providing traders worldwide access to trade across all markets with cutting edge technology, low cost spreads, low-latency high speed execution and award-winning customer service.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Stock Brokers South Africa

Best Stock Brokers South Africa

How did we choose our best stock brokers in South Africa?

The most important factor for us to consider when choosing who are the best stock brokers in South Africa is that they are regulated and authorised to offer stock trading to South African traders. Once the brokers regulation had been confirmed, we then researched and analysed the stock trading service thet provide in great detail and assigned them with an unbiased broker rating based on our findings. During this research, we gave great consideration to what we deem to be amongst the most important factors to consider when choosing the best stock brokers, including:

  • Regulation: The stock broker should be regulated and authorised to offer stock trading in South Africa.
  • Stock Trading Platforms: The stock broker should have a range of the best stock trading platforms with user friendly interfaces and trading tools for analysing the stock markets. The platforms should be compatible on desktop, web and mobile devices for trading stocks whilst on the move.
  • Stock Trading Instruments: The stock broker should offer a large selection of global stocks in different markets for trading online.
  • Spreads: The stock brokers spreads should be competitive, the tighter the better.
  • Commission: The commission charged for trading stocks should be priced low.
  • Fees: Other fees such as those charged for deposits, withdrawals, account inactivity, holding positions overnight, etc, should all be made clear.
  • Execution Speeds: Traders buy or sell stock positions should be entered with minimal slippage.
  • Liquidity Providers: The stock broker should incorporate top tier liquidity providers (LPs) in order to offer a deep liquidity pool to traders.
  • Stock Trading Tools: There should be a good selection of trading tools for analysing the stock markets, planning/managing stock positions, stock trading signals, social trading, etc.
  • Educational Materials: The stock broker should offer traders a range of educational resources on various stock trading topics to help them improve their trading skills and knowledge. Training tools can include video tutorials, stock trading guides, webinars, etc.
  • Stock Trading Accounts: The stock broker should offer a choice of flexible trading accounts to cater for different levels of investment and experience levels.
  • Account Deposit & Withdrawal Options: There should be a choice of convenient account funding methods, including online payment processors for fast and easy account funding.
  • Client Support: The online stock brokerage should offer efficient and well-educated client support in order to respond in a prompt and efficient manner to all general and technical questions that traders may have.

South African stock brokers regulation

Stock trading is a popular form of online trading that enables the trader to speculate on the rising or falling prices of a particular company or basket of selected stocks known as Indices. An online stock broker acts as the intermediary between you the trader and the exchange where the stocks are traded. Anyone can open a trading account with an online brokerage and use their online stock trading platform to buy and sell stocks. In recent years, online stock trading has continued to increase in popularity and with so many South African online stock brokers to choose from, it can make it difficult for traders to choose the best stock broker in South Africa for them.

At Trading Brokers, we believe that it is of upmost importance that a stock broker providing services to traders in South Africa is authorised and regulated to offer stock trading in South Africa. Using a regulated stock broker can help to give traders the peace of mind that they are using a stock brokerage firm which is subject to strict rules and regulations put in place to help protect investors. It is worth mentioning that there are some non-South African stock brokers that will still solicit clients located within South Africa. There are also South African stock brokers who offer online stock trading services to clients located in some countries outside of the South Africa. In this instance, it would be a considered a wise idea to ensure that the broker has the relevant regulation within the jurisdiction that they are operating from.

Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) is the market conduct regulator, responsible for the regulation of financial institutions in South Africa that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures.

The FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. They aim to ensure there is an efficient and stable financial sector where customers are informed, protected and treated fairly.

Verifying a South African stock brokers regulation

If a stock broker has been licensed by regulator, they should be provided with a registration number as proof that they are registered. This number will usually be located on the brokers website. You will often find it near the footer where they state who they are regulated by. You should check on the relevant regulators website to validate the current status of the stock broker registration to ensure that it is valid and up to date. It has been known for some scam brokers to fake regulation, some even going as far to clone another brokers website. When you are looking up the registration number, you should find details of the regulated brokerage firm including their website, contact details and if they have any cases brought against them.

Need help choosing the best stock brokers in South Africa for 2020?

With so many online stock brokers in South Africa to choose from it is normal for traders to be confused. If you are still not sure which is the best stock broker in South Africa for you then you may wish to utilise our free online broker comparison tool to quickly compare South African stock brokers based on trading platforms, trading instruments, minimum deposit, regulations, leverage, funding options and more. You can also read our broker reviews and choose from our best brokers that we have conveniently categorised into the best online brokers, best forex brokers, best stock brokers, best CFD brokers, best crypto brokers, best trading platforms, best social trading platforms and best trading apps. If you would like to look for the best trading brokers in a particular country, we have pages dedicated to our best forex brokers USA, best forex brokers UK, best forex brokers Australia, best forex brokers South Africa and best forex brokers Canada. There are also pages for our best stock brokers USA, best stock brokers UK, best stock brokers Australia, best stock brokers South Africa and best stock brokers Canada.