Online trading platforms in South Africa are the main trading tools used on a daily basis by online traders in all markets, be it stocks, cryptocurrencies, forex or commodities. There are many best online trading platforms South Africa used by traders. In this article, you will find everything you need to know about the best online trading platforms in South Africa for 2021 and how to choose an online trading platform.
Best Online Trading Platforms South Africa 2021
|FSCA, MiFID, ASIC|
|CySec, FSCA, ASIC, FCA|
|CySec, FSCA, ASIC, FCA|
|CySec, FSCA, ASIC, FCA|
|CySec, FSCA, ASIC, FCA|
What is an Online Trading Platform?
An online trading platform is software used for trading in financial markets. You use the trading platform to open, close and manage positions on your trading account. Online trading platforms are provided by online brokers for free, whether for real trading accounts or demo accounts.
The best online trading platforms South Africa offer a mix of robust features, ease of use, and low fees. Besides placing orders, online trading platforms also allow you to view real-time quotes, live charts, news feeds and other research content. The trading platforms can also be specifically adapted to particular markets, such as stocks, forex, or even crypto-currencies.
In this guide, we will therefore detail the criteria to take into account when choosing your online trading platform in South Africa and we will help you identify the best brokers and the best trading platforms currently available in South Africa.
Below we list the best online trading platforms in South Africa ranked by number of crypto coins available, fees and security.
Online Trading Platforms South Africa 2021
Best beginner online trading platform (Crypto, CFD, stock exchange and forex)
eToro is certainly the best trading platform for 2021. Trading with eToro is very easy, inexpensive and eToro is a reputable and well regulated broker.
Regulation and security
eToro has been around since 2007, and has quickly grown into one of the best-known online trading platforms in South Africa and around the world and today has over 8 million users. eToro is regulated by CySEC, FSCA, FCA and ASIC and has an excellent reputation.
What has contributed to its success with traders is above all its very easy to use platform. eToro offers a social trading platform that allows newbies to copy portfolios of successful traders.
Their CopyTrader technology allows you to follow the investors you are interested in and copy their trades with just a few clicks. Investors can also share tips and strategies in a friendly trading community that encourages interaction.
Direct purchase or CFD trading
In addition, eToro clients have the option of buying cryptocurrencies, physical stocks, or trading cryptocurrencies, stocks, forex and more in CFDs with leverage, all on the same platform.
Their crypto-currency trading platform is one of the most advanced and has 16 crypto-currencies to buy directly or trade. eToro also offers a free wallet to store your tokens. eToro is also one of the best stock exchange trading platforms . eToro offers over 2,000 stocks and the option to invest in global stock exchanges . In addition, eToro offers you to trade shares in cash or CFDs with leverage. CFD equity trading is offered with 0 commission, making it one of the cheapest stock exchange trading platforms on the market.
As their forex trading platform, eToro probably offers the lowest spreads for Forex trading and 47 currency pairs including EURUSD, GBPUSD and USDJPY.
- Best trading platform for beginners
- Social and collaborative trading with CopyTrader TM and CopyPortfolios
- Purchase of shares and crypto-currencies physically or trading in CFDs
- Very easy to use platform
- Low fees
- Free wallet to store crypto-currencies eToro X wallet
- Lack of advanced trading tools
- MT4 and MT5 trading platform not available
Well established CFD trading platform
Plus500 is an online brokerage founded in 2008, based in Cyprus, regulated by SySEC and FCA in Europe and by FSCA in South Africa. Since its creation, the broker has experienced rapid growth, particularly in Europe and South Africa.
Plus500 offers a web trading platform, directly accessible via a web browser, very easy to use by novice traders.
The markets on offer cover indices, currencies, commodities, cryptocurrencies, stocks, options and ETFs.
- Easy to use trading platform ideal for beginners
- Relatively low fees
- Online Trading Platform with limited functions for more advanced traders
- Lack of training and market analysis services
Online trading platform with advanced tools
AvaTrade is an online trading platform regulated by the FSCA in South Africa. The broker wants to be a pioneer and innovative, present on the Forex trading market since 2006.
The broker offers its clients many advanced trading tools, and a wide choice of platforms including MetaTrader 4 and MetaTrader 5, in addition to the AvaTradeGo mobile application.
Regarding Forex, AvaTrade offers trading on 55 currency pairs.
- Regulated broker in South Africa and internationally
- Wide choice of online trading platforms
- Advanced trading tools
- High fees
CFD platform with MT4
Libertex is one of the oldest online Forex and CFD brokers, in place since 1997, and claims to serve 2.2 million clients worldwide, in 27 different countries. The broker offers trading on MetaTrader 4 or on its Libertex mobile application. In particular, it offers a large number of deposit methods. At Libertex, you will be able to trade cryptocurrencies, stocks and forex in an intuitive platform.
- Old and solid online broker
- Relatively low fees
- Low deployment in South Africa
- Trading only in CFDs
Well regulated platform with 3,500 shares
Admiral Markets is a European stockbroker that has been in existence since 2001 and regulated by FCA and CySEC in Europe, ASIC in Australia and FSCA in South Africa.
This broker does not offer the option to buy stocks, but to trade CFD stocks, as well as other financial instruments, such as stock indices and ETFs, but also to invest in spot stocks on the platform. MetaTrader 5.
The broker offers CFD stock trading with 0 commission. In addition, nearly 3,500 actions are available around the world, including the most popular such as Netflix action.
- Very wide choice of actions
- 0 commissions on CFD shares
- CFD stock trading and spot securities account
- MetaTrader 5
- Lack of other trading platforms than MetaTrader
Ideal forex trading platform
XTB is one of the leading Forex brokers in South Africa and around the world, with offices in more than 13 countries. The Forex XTB platform was founded in 2015 and has more than 170,000 clients worldwide by 2021.
XTB offers Forex trading on its xStation 5 platform and the xStation Mobile app.
49 currency pairs are offered for Forex trading at XTB.
- Recognized and well established broker
- Easy to use trading platform
- Relatively high fees on equity CFDs
Best mobile trading platform
CMC Markets is an online broker that offers Forex and CFD trading. It is particularly appreciated for its complete and innovative platform. It also offers a mobile trading platform well in advance of what is being done on the market.
The broker probably has one of the best trading interfaces for mobile. It offers easy navigation, advanced features as well as high quality graphics and mini-graphics.
- Innovative and well thought-out interface
- Advanced features
- High quality graphics
- Relatively high trading fees
MT4 and MT5 platform available from your mobile
Markets.com was established in 2008, and is regulated by the BVI Financial Services Commission of the British Virgin Islands and FSCA in South Africa.
With markets.com mobile traders will be able to use the Markets mobile application. The popular platforms MetaTrader 4 and MetaTrader 5 also complete the offer.
The mobile app for iOS and Android is based on designs native to your devices for a smoother experience.
- Low fees
- Intuitive and comprehensive mobile trading platform
- Regulated in South Africa
- Unregulated broker in Europe
Automatic trading platform
If your time is limited and you are looking for an automated option for trading, you should consider an automatic online trading platform. Bitcoin Trader is an automatic cryptocurrency trading platform created by Gary Roberts in 2017. It analyzes bullish and bearish trends in order to take advantage of market volatility.
Just open an account and install Bitcoin Trader to start automated trading in the financial market. It is an automatic trading robot, which analyzes the cryptocurrency market and takes positions for you.
- Very easy to use platform
- No fees deducted on the platform (completely free)
- Fast transaction processing
- Presumed high winning rate
- No profit guarantee
What are the available online trading platforms in South Africa?
There are many online trading platforms available on the market. Find below the most important as well as their advantages and specificities according to your trader profile and the instruments that interest you.
MT4: The most popular online trading platform
MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online traders, especially when it comes to forex. It was developed by MetaQuotes Software and released in 2005. The software is licensed to brokers who provide it to their clients. A large majority of brokers offer this platform, often in addition to their own internal trading platform.
MT5: For multi-market traders
MetaTrader 5 is a multi-asset institutional trading platform offering exceptional trading possibilities and technical analysis tools, while allowing the use of automated trading systems (trading robots) and copy trading.
Unlike MT4 which is designed for forex CFD instruments, MT5 is an all-in-one multi-asset trading platform, covering both centralized and non-centralized financial markets including stocks, contracts futures and trading instruments on the foreign exchange market. The MT5 platform is also faster than MT4.
MetaTrader Supreme Edition: Lots of additional features
MetaTrader Supreme Edition is a special plug-in developed by Admiral Markets for MT4 and MT5 online trading platforms. The Supreme Edition plug-in contains over 60 additional features that the standard platform does not offer.
Among the most interesting features is the Global Opinion, which shows the sentiment of traders, real-time news, mini charts, and a whole collection of technical indicators.
MetaTrader WebTrader: To trade wherever you are
The MetaTrader 4 web platform allows you to trade Forex from any browser and operating system (Windows, Mac, Linux) without additional software. Access your account and start trading without needing to download anything. All you need is an internet connection.
The web version of MetaTrader 4 has all the advantages of the software of the same name. The app is just as safe to use as the Windows version, as all data transmitted is tightly encrypted.
TradingView: A constantly evolving platform
The TradingView platform is both a social network for traders, and a trading platform that is a tool for in-depth technical analysis. TradingView is arguably the trading platform that offers the most different technical indicators, while remaining very intuitive and easy to use. It is possible to connect a lot of brokers to this platform.
There is also a large community of developers who constantly evolve the platform, which ensures maximum scalability. In addition, the TradingView platform can be used on any market, be it stocks, indices, forex, commodities, CFDs or even cryptocurrencies.
How to choose the best online trading platform in South Africa?
A question that comes up often is what is the best trading platform in South Africa? And on which platform to trade?
When choosing a trading platform, and the broker offering it, many criteria must be taken into account so that you can make sure that you choose the platform that is best for you. We will therefore detail here the main criteria to take into account when choosing your trading platform.
Assets and Markets
The first thing to consider when choosing a trading platform is the asset you want to trade. For example, if you want to trade forex, you should ask yourself what is the best forex trading platform?
If you want to trade stocks, ask yourself what is the best stock trading platform?
There are a number of brokers specializing in certain markets. We will discuss this later in the guide.
Ergonomics and user-friendliness of the interface
The ease of use of a trading platform is arguably the first point to consider when making your choice, especially if you are a beginner.
Some platforms, like that of the broker eToro , have been specially designed to suit beginners, while others, like MetaTrader4, offer different functionalities, but with a more austere design.
All trading platforms can be tested for free, so it’s best to see for yourself: Can you find all the features you need easily and quickly? If the answer is yes, it is a good sign!
Basic and additional functions
While all platforms offer real-time quotes, live charts, and of course the possibility of placing orders, they generally also offer a multitude of additional functions.
Some online trading platforms benefit from advanced technical analysis tools, while others offer interfaces for automating your trading operations, such as AvaTrade, or the possibility of copying the positions of the best traders, such as eToro.
Finally, some trading platforms also offer professional information and analysis flows directly from the interface, which proves to be a valuable support in decision-making in trading.
Regulation and security
Regulation concerns more the broker than its platform, but it is all the same an essential criterion to take into account in your quest for the best trading platform.
The first thing to check is whether the broker is regulated. The regulatory bodies subject financial intermediaries to rules of good management and customer relations which protect investors, and can issue sanctions.
Choosing a regulated broker is therefore to ensure its reliability and reliability. Note that there is almost one regulatory body per country, with the NFA and the CFTC in the United States, the FSA in Great Britain, the CySec in Cyprus, the ASIC in Australia or even the FSCA in South Africa.
There are two types of fees associated with online trading platforms: Commissions, and the spread.
Commissions are fees charged for each transaction. They can be fixed or as a percentage of the transaction amount. The spread is the difference between the purchase price and the sale price of an asset at a time T, knowing that the purchase price is always higher than the sale price.
Some brokers charge commissions, but apply no or very little spread, while others do not charge commissions, but show larger spreads.
There are also online brokers that will let you choose. In any case, do your calculations, according to the specific conditions of the broker studied, and according to your trading style.
Note that the broker eToro has the particularity of being able to buy cash shares without commission, which few other brokers offer.
Ease of deposits and withdrawals
To be able to use your trading platform, you will have to feed it, and it is therefore important to choose a broker that facilitates the operation. Does the broker offer to deposit funds with your favorite payment methods or does he only accept transfers? Are deposits taken into account instantly? How many payment methods are available?
The questions will be the same for withdrawals, except that in this case, it will also be judicious to consult the opinion of the customers on the Internet, to verify that the broker does not drag its feet when it is necessary to “go to the cash”!
Execution refers to the efficiency with which the trading platform transmits the orders you enter into it.
Under normal market conditions (e.g. normal liquidity, lack of important press releases or surprising events), there really is no reason for your broker not to execute you at market price, that is i.e. at the price you see on your screen when you click on the “buy” or “sell” button.
In volatile market conditions, the trading platform must benefit from security rules, which cancel your orders if the difference is too large between the price at the time of your order and the time of its execution on the market.
Being able to easily reach your broker in the event of a problem can sometimes be very important. You will therefore have to make sure to choose a broker that is easily reachable, preferably 24 hours a day, and preferably by chat or phone.
But it is not enough to be available, it is also necessary to be competent! You will therefore also check that the employees of the broker with whom you are in contact know what they are talking about.
Finally, on another note, it is also useful to know that some brokers go to great lengths to help their clients learn about trading, with training sheets, videos, webinars, analyzes and other services, which is particularly valuable if you are new to the markets.
Conclusion: what is the best trading platform?
Choosing a trading platform and the broker to provide it to you is not a decision to be taken lightly. There are indeed many different platforms. Some are more suited to beginners, while others are clearly aimed at professional traders.
The functionality also differs a lot from one trading platform to another, so you should also take stock of your needs before choosing.
You will also have to check other criteria, such as security and regulation, or the reputation of the broker and the opinion of its clients with regard to its trading platform.
However, as we have seen in this guide, the online broker eToro is the one that offers the trading platform with the most advantages, with access to many markets, and CopyTrading features, while offering a particularly intuitive interface that is pleasing to the eye.
Online Trading Platforms FAQs
Find answers to the most frequently asked questions in South Africa regarding online trading platforms in South Africa.
What is the best trading platform in general?
Defining the best trading platform depends on your needs, your experience and your expectations. However, as we have seen during this guide, it seems that the trading platform of the broker eToro is the one that accumulates the most advantage, both in terms of its ergonomics and the features offered.
What is the best trading platform in South Africa?
CM Trading is the best trading platform in South Africa because it used by many traders.
How can I be sure of the reliability of a trading platform?
The main criterion for ensuring the reliability of a trading platform is the regulation of the broker offering it. You must always choose a regulated broker. Finding out about the opinions of clients of this broker is also a good way to ensure that a broker can be trusted.
What is the most economical trading platform?
It depends on the market in which you want to trade. On spot stocks, the eToro platform which does not charge a commission will be the most economical, but other brokers are more competitive when it comes to forex for example.
What are the cheapest online trading platforms in South Africa?
eToro, Plus500, AvaTrade, IG and AvaTrade are some of the cheapest online share trading platforms in South Africa for 2021.