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 by the Financial Sector Conduct Authority (FSCA). The FSCA is responsible for market conduct regulation and supervision in South Africa. With there being so many South African stock brokers for traders to choose from, we have compiled a list of our top 5 South African stock brokers below.

Top 6 Stock Brokers South Africa 2020

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

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF

Min $250 Deposit

1974

1:200

Review Open Account Open Account
Terms & conditions apply
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
2.

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. 71% 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.

FCA, ASIC, CySEC, MAS, FMA, FSCA

Min $100 Deposit

2008

1:300

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. 76.4% 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.
4.

ASIC, CySEC, FSCA

Min $100 Deposit

2008

1:300

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. 64% 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.
5.

CySEC, FCA, FSC, FSCA

Min $10 Deposit

2011

1:300

Review Open Account Open Account
Terms & conditions apply
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXTM and FXTMPartners brands based on the legal requirements in his/her country of residence. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.
6.

CySEC, FSCA, VFSC

Min $100 Deposit

2009

1:1000

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. 62.09% 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. Read our full risk disclosure.
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. IG

IG are one of our best trading brokers offering traders around the globe over 16,000+ markets including Forex & CFDs. They have a great selection of trading platforms, tools & educational resources. Spreads are tight, commission is low & execution speeds are fast. IG are also regulated in many countries including FCA, ASIC & NFA regulation.

Terms & conditions apply
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

2. 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. 71% 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. Plus500

Founded in 2008, Plus500 is a regulated & leading online trading broker providing a large range of 2,000+ Forex & CFD instruments for trading on their simple & clean proprietary trading platforms.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.

4. Markets.com

Markets.com provide traders across the globe with a large range of trading assets, tight spreads and advanced trading tools through their award-winning trading platform.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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.

5. FXTM

FXTM is an award-winning broker with over 250+ trading instruments and strict regulation in multiple jurisdictions. They have a range of educational material and trading tools with flexible account types to suit every trader.

Terms & conditions apply
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXTM and FXTMPartners brands based on the legal requirements in his/her country of residence. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.

6. FXPRIMUS

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.

Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62.09% 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. Read our full risk disclosure.

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 South African stock brokers is that they are regulated in South Africa by the Financial Sector Conduct Authority (FSCA). 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: A stock broker in South Africa should be regulated by the Financial Sector Conduct Authority (FSCA).
  • 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 by the Financial Sector Conduct Authority (FSCA). 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 FSCA, 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 FSCA 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 FSCA 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.