How To Make Money With Money In South Africa

Are you looking for the best stock trading apps in South Africa? Well, fortunately for you, OnlineTrading professionals list the top 6 here in this guide. All of them are safe to trade stocks with since they are licensed and regulated by the Financial Sector Conduct Authority (FSCA). You simply need to choose one, considering your trading needs.

Our list of the Best Stock Trading Apps in South Africa 2021

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Risk Warning

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

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Risk Warning

76.4% 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.

HotForex

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Risk Warning

76.4% 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.

Visit site Read Review

Risk Warning

76.4% 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.

Visit site Read Review

Risk Warning

76.4% 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.

Visit site Read Review

Risk Warning

76.4% 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.

In this guide

7 Best Stock Trading Apps in South Africa 2021

Compare Best Stock Trading Apps in South Africa of 2021
- 1. IG Markets – Overall Best Stock Trading App in South Africa
- 2. FXTM – Best Stock Trading App for Beginners in South Africa
- 3. HotForex – Best Stock Trading App for Low Budget in South Africa
- 4. Saxo – Best Stock Trading App for Investments in South Africa
- 5. Plus500 – Best Stock Trading App for CFDs in South Africa
- 6. AvaTrade – Most Trusted Stock Trading App in South Africa
How to Choose the Best Stock Trading App in South Africa
FAQs
Verdict

How we test?

OnlineTrading aims to provide quality, simple, and proven information to its readers. Our team of financial experts carefully checks every detail to provide a unique and comprehensive guide to safe trading around the world.

Feedback from regular users is very important to us, so we try to consider the opinions of reviews and feedbacks from several trusted platforms. We spend about 100 – 250 hours analysing and collecting information on each trading platform to ensure our recommendations are reliable.

Naturally, we always remain impartial, honest and recommend only licensed and reliable brokers.

Read more about our test process here.

Compare Best Stock Trading Apps in South Africa of 2021

We had to compare as many stock trading apps in South Africa as possible. Our main goal is to have accurate and conclusive results, which can only be achieved with multiple tests and reviews.

The tests we conducted on stock trading apps in South Africa involved checking if their features met the standards we had set. We confirmed whether they were licensed and regulated by the Financial Sector Conduct Authority (FSCA) or not. Other elements we looked into were trading platforms, commissions or spreads, customer care, payment methods, and demo accounts.

Our comparison couldn't be completed without seeking other stock trader's opinions on the stock trading apps in South Africa. Therefore, we reviewed the comments and ratings of the apps on Google Play, App Store, and Trustpilot. The findings from user ratings were combined with the test results to recommend the stock trading apps in South Africa below.

Here is an overview of how we rated the best stock trading apps in South Africa based on our research.

license logo

Regulation

payment logo

Minimum Deposit

Stock Assets

Demo Account

money insurance logo

Money Insurance

payment methods

Payment Methods

License

Minimum deposit

Stock Assets

Demo account

Money Insurance

Payment & Withdraw options

ASIC, FCA, FSCA, PRA

$250

8000

Yes

Yes (up to $115,793)

Paypal, Bank Wire Transfer, Credit cards, Neteller, Skrill

CySec, FCA, FSCA

$10

170

Yes

Yes (up to $115,793)

Credit cards, Bank Wire Transfer, Neteller, Skrill, WebMoney

CySec, FCA, FSCA

951

Yes

Yes, up to EUR 5,000,000

Bank Wire Transfer, Credit cards, Neteller, Skrill, WebMoney

MAS, PRA

$2000 (depend on the country)

19000+

Yes

Yes, up to EUR 100,000

Bank Wire Transfer, Credit cards

ASIC, FCA, FSCA, PRA

$100

2000+

Yes

Yes, up to €85,000

Bank Wire Transfer, Credit cards, Paypal, Skrill

ASIC, FCA, FSCA, PRA

$100

Yes

Yes, up to €20.000

Credit Card, FasaPay, MoneyGram, Perfect Money, Skrill, Swift, Webmoney, Western Union, Wire Transfer

Compare brokers

1. IG Markets – Overall Best Stock Trading App in South Africa

IG Markets has been existing for decades, making it one of the most trusted stock trading apps in South Africa. This app is suitable for newbies and expert traders alike since it offers various platforms to choose from, including the MT4 and ProRealTime.

IG Markets has over 17,000 trading assets to choose from, and among them, you get to trade stocks on over 13,000 share markets globally. With these plenty of options, it is easy to diversify your portfolio and boost your chances of earning profits.

Before you start stock trading at IG Markets, a minimum deposit of $250 is required. Although this may seem high to most stock traders in South Africa, you get to enjoy some of the world-class trading tools for research and learning. It also offers a demo account with $20,000 virtual funds for practising stock trading before venturing into real markets.

OnlineTrading.Reviews Rating:

✔ Advanced research tools provided.
✔ Fast and responsive trading platform.

Risk Warning

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Pros

+13,000 share markets to explore.
Incredible research and educational resources.
Different platforms to choose from, including MT4.

Cons

High stock trading fees/commission.
$250 minimum deposit requirement.

2. FXTM – Best Stock Trading App for Beginners in South Africa

One of the main reasons we highly recommend this stock trading app in South Africa to newbies is because it is user-friendly. Its design is also modern, and newbies will have no issues navigating through it. Rest assured that it is safe since the Financial Sector Conduct Authority (FSCA) regulates it.

FXTM offers over 250 instruments, with 180 company shares for share CFD trading. All these assets are traded at low cost, allowing beginners to explore diverse share markets. In addition, a $10 minimum deposit is required to start trading using these assets and have a chance at making profits. You can also trade using its advanced trading resources for research and skills building.

One impressive feature of FXTM is that it hosts the MT4 and MT5 platforms. These platforms host advanced tools such as automated trading and analysis experts. You also have the option of following expert stock traders and copy their trades if you think they can be profitable.

OnlineTrading.Reviews Rating:

✔ Excellent educational tools
✔ Fast account opening

Risk Warning

76.4% 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.

Pros

Low minimum deposit.
Advanced trading tools on MT4 and MT5 platforms.
Low stock trading fees.

Cons

Withdrawal charges apply.
Charges a $5 monthly inactivity fee after 6 months.

3. HotForex – Best Stock Trading App for Low Budget in South Africa

HotForex takes the lead in this category because it charges low spreads starting from 0.1 pips. Account funding minimum requirement is also $5, which you will not have to pay fees for making deposits. In addition, withdrawals are also free of charge.

It's easy to create a stock trading account on this stock app's platform. However, if you are a beginner, we advise that you start trading on its risk-free demo account, loaded with $100,000 virtual funds. Once you feel ready to trade the real markets, you will then create a live account.

HotForex is an ECN/STP stock trading app in South Africa. It hosts the MT4 and MT5 platforms, which have advanced research and learning resources to help you become more strategic. What's more, HotForex has a copy trading platform known as the HFCopy, which you can use to copy the trades of professional stock traders for free.

HotForex

OnlineTrading.Reviews Rating:

✔ Free trading account funding
✔ Low spreads

Risk Warning

76.4% 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.

Pros

Low spreads from 0.1 pips.
$5 account minimum deposit.
HFCopy to mirror experts' positions.

Cons

Five days a week customer service.
No social trading features.

4. Saxo – Best Stock Trading App for Investments in South Africa

The SaxoTraderGO app from Saxo Bank broker is perfect for investment in South Africa because it offers over 19,000 stocks to invest in. These assets can be traded on over 40 exchanges globally, allowing you to diversify your investment portfolio.

Saxo is regulated by the Financial Sector Conduct Authority (FSCA), making it a safe choice for South African stock traders. Even though it requires a high minimum deposit of $500, you get to invest using world-class resources for technical and fundamental analysis. Beginners can also make use of its demo account, which is loaded with $100,000 virtual funds.

SaxoTraderGO app does not charge any fees for transactions. In addition, the stock trading charges are low, which for investors is an added bonus. The app also secures your data with a safe two-step login procedure, and you get to benefit from its dedicated 24-hour customer service.

OnlineTrading.Reviews Rating:

✔ Great research tools
✔ Wide array of products

Risk Warning

76.4% 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.

Pros

+19,000 stocks.
Top-notch research resources.
Fast order execution speed.

Cons

High minimum deposit requirement.
Customer service works on weekdays only.

5. Plus500 – Best Stock Trading App for CFDs in South Africa

Plus500 is a CFD stock trading app offering thousands of assets to trade with. The broker is legally approved by the Financial Sector Conduct Authority (FSCA) to provide its services to South African stock traders, making it safe. In addition, it has user-friendly features, which have contributed to it earning high ratings from users on Google Play and the App Store.

With at least $100, you will access the share markets for CFD trading offered by Plus500. There are no transaction costs, and on top of it, you get to trade commission-free. This makes this stock trading app in South Africa a suitable choice for low-budget stock CFD traders.

The fees to incur on this stock trading app in South Africa are spreads, ranking among the lowest from our reviews. Plus500 also charges a $10 monthly inactivity fee should you not engage in any activity for three consecutive months. This means that only active CFD stock traders can benefit from the app. Other charges to expect are fees on currency conversion, overnight funding, and guaranteed stop-loss orders.

OnlineTrading.Reviews Rating:

✔ Zero commission.
✔24/7 customer support service.

Risk Warning

76.4% 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.

Pros

Zero commission with low spreads.
Low minimum deposit requirement.
Thousands of share CFD instruments to choose from.

Cons

Expect inactivity fees after three months if you do not log into your account.
Single proprietary platform, inconveniencing stock traders looking for advanced features.

6. AvaTrade – Most Trusted Stock Trading App in South Africa

AvaTrade's app AvaTradeGO is among the highly rated stock trading apps in South Africa. For this reason, it has earned the trust of South African stock traders. In addition, the app is also regulated within the region, allowing you to trade under the best conditions while securing your funds.

AvaTradeGO offers over 1,000 instruments for stock trading on platforms that have fast order execution speed, including the MT4 and MT5. With only a minimum deposit of $100, you can access these assets on various global markets and try to profit from them. Note that deposits and withdrawals do not attract any charges, and it has one of the lowest trading fees in the industry.

You will have access to this stock trading app's AvaSocial platform, which we primarily recommend to newbies. Here, you will socialise with other global stock traders and learn trading tips and tricks from each other. In case you meet expert traders, you can follow them to mirror positions with high-profit potential.

OnlineTrading.Reviews Rating:

✔Fast account opening
✔Excellent research tools

Risk Warning

76.4% 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.

Pros

+1,000 instruments for stock trading.
Advanced platforms for advanced stock traders.
AvaSocial platform for interacting with other global stock traders.

Cons

Charges inactivity fees after three months.
Customer service operates five days a week.

How to Choose the Best Stock Trading App in South Africa

It is crucial that you always track your trading activities in order to quickly act on any change that could affect your trade's performance. Stock trading apps in South Africa have proven helpful. Therefore, you have to choose the most suitable one if you intend to manage your activities effectively.

That being said, below are the significant factors to consider when choosing the best stock trading app in South Africa.

The Financial Sector Conduct Authority (FSCA) is the financial authority overseeing stock trading apps activities in South Africa. Therefore, when choosing a stock trading app, consider the ones that are controlled by this authority. Trading using such apps ensures that your trading funds are protected, and you get to trade on a platform with excellent conditions.

If you want to diversify your trading portfolio, you should go for a stock trading app allowing global access to various stock exchanges. This gives you plenty of opportunities to trade stocks on multiple companies and increase your income potential.

When trading stocks, you will pay trading fees —either commission or spread. Note that every stock trading app in South Africa has its own charges. Therefore, you should confirm the amount of charges and if they fit into your budget. Trading without confirming this element could affect your trading capabilities in the long run, and this is the last thing you need to experience while trading stocks.

Trading stocks on a user-friendly platform eases your experience and allows you to focus on creating the best strategy. The stock trading platform should also host the best trading tools that are suitable for your skills level. Most stock brokers host excellent research and learning materials, including demo accounts to help you kickstart your trading activities.

When opening a stock trading account in South Africa, you will be required to make a deposit. Various payment methods are allowed by these apps. Therefore, you should choose a stock trading app allowing deposits and withdrawals using the most suitable modes of payment. You do not want to experience currency exchanges before making deposits, which is costly and time-consuming.

Trading stocks can be exciting, but you are also likely to experience some issues along the way that require clarifications or assistance. For this reason, you want reliable and responsive customer service to help you resolve these issues fast before they affect your activities. That is why you should never overlook this element when choosing a stock trading app in South Africa. Also, confirm their availability and see if they fit into your trading schedule.

FAQs

Can you trade stocks in South Africa?

Yes. You can trade stocks in South Africa with the best stocks broker. This means you should consider various factors in your choice, including regulations and licences, platform, commission, and more, as listed above.

How do I start a stock trade in South Africa?

The best way to start stock trading in South Africa is through demo accounts. You see, demo accounts are risk-free, and you do not need to invest your money. Instead, they are usually loaded with virtual funds for you to practice stock trading for as long as a broker allows you to.

Where can I trade stocks in South Africa?

You should trade stocks in South Africa using a stock broker. There are various excellent stock brokers in South Africa, and good examples are listed in our mini-reviews above.

How much do I need to start trading in South Africa?

You can start stock trading in South Africa with as little as $10. This is because some stock brokers in South Africa do not have a minimum deposit requirement. You simply need to identify them and choose the one with features complementing your trading needs.

Can I buy shares without a broker?

Yes. It is possible to buy shares without a broker. However, your options will be limited, especially if you want to explore global markets. That is why it is best to use a stock trading broker to buy shares.

Is online trading safe?

Yes. Online trading is safe for as long as you trade with licensed and regulated brokers. There are plenty of fraudulent brokers out there, and your safety starts with the broker you choose.

Can you trade stocks in South Africa?

How do I start a stock trade in South Africa?

Where can I trade stocks in South Africa?

How much do I need to start trading in South Africa?

Can I buy shares without a broker?

Is online trading safe?

Verdict

Trading can be challenging, especially if you do not have the means to monitor your activities once you open a position. With the best stock trading apps in South Africa above, you can easily track your activities and make quick moves. They are all licensed and regulated by the Financial Sector Conduct Authority (FSCA). All you need to do is choose a suitable one and install them on your mobile devices to enjoy the benefits.

Thadeus Geodfrey

is a copywriter with extensive experience in trading. Thadeus knows exactly his field and what he writes about. His goal is to make life easier for traders and provide them with important information about brokers. Now, he continues to be active in trading and researching brokers for you.

There is no need to doubt his experience because the guides Thadeus writes speak for themselves. He knows exactly what to draw your attention to and will tell you truthfully about each trading platform.