List of Best Forex Brokers and Trading Platforms for Beginners in South Africa

Home » List of Best Forex Brokers and Trading Platforms for Beginners in South Africa

The best online trading platform for beginners in South Africa is the one that suits your financial needs and your investing strategy. There are many best and well-known online trading platforms you can look at. According to research, South Africa has the best trading platforms for beginners. All in all, the best Forex Brokers and Trading Platforms for Beginners in South Africa offer three important benefits. Below are the essential benefits;

  • Online Trading Platforms must be user-friendly website and overall trading experience
  • Trading Platforms for Beginners must provide a strong variety of educational material
  • Web-based trading platform must provide access to quality market research for Beginners

List of Best Trading Platforms for Beginners in South Africa

Trade with:
Plus500 South Africa
Min. Deposit: R 1500
CFD Provider, Plus500 Regulation Number #47546 in SA
4.9 rating
4.9
T&Cs Apply
South African Customers Only

Forex, Margin & CFD are complex instruments and come with a high risk of losing money due to leverage.

Trade with:
HYCM Markets
Min. Deposit: R 1000
Best Forex Broker
4.9 rating
4.9
T&Cs Apply
South African Customers Only

Forex, Margin & CFD are complex instruments and come with a high risk of losing money due to leverage.

Trade with:
CM Trading
Min. Deposit: R 3000
Best Forex Broker South Africa
4.8 rating
4.8
T&Cs Apply
South African Customers Only

*Risk Investment Warning: Trading Forex/CFD & Options on margin carries a high level of risk, and may not be suitable for all investors.
Trade with:
Markets.com
Min. Deposit: R 1500
Best 2021 FX Broker
4.5 rating
4.5
T&Cs Apply
South African Customers Only

Forex, Margin & CFD are complex instruments and come with a high risk of losing money due to leverage.

Trade with:
FXGM South Africa
Min. Deposit: R 3800
Top FX Broker in SA
4.5 rating
4.5
T&Cs Apply
South African Customers Only

Forex, Margin & CFD are complex instruments and come with a high risk of losing money due to leverage.

As a new investor who is interested in Forex Trading in South Africa, it is very important that you compare trading platforms before creating an account. The above mentioned Forex brokers are well-known for providing the best Platforms in the market. Traders will find it easy to trade using their top online trading platforms in South Africa. These best Forex brokers for beginners are also reasonable for beginners who want to start trading with as little as $100. You can start trading with $100 as long as your broker allows you.

Trading Platforms for Beginners in South Africa

How to Find the Best Trading Platform

Finding the best Online Trading Platforms for Day Trading in South Africa can be challenging for beginners. However, this doesn’t mean you don’t have an idea of what you are looking for in a brokerage. As a beginner, you should look for low costs, innovative strategy tools, premium research and a comprehensive trading platform.

There are many options best trading platforms to choose from apart from the above. Each platform has its own asset availability, pricing, fees, and features that makes it the best trading platform compared to its competitors. But this also depends on your needs and goals. Let us look at some of the features you need to consider when picking a trading platform in South Africa.

  • Pricing – Before you sign up, check the pricing first as this can influence your long-term results and profitability. Options trades can be free or 1USD or even more.
  • Ease of use – Trading can be complex. The best trading platform for beginners allow traders to respond to market changes quickly. So look for platform that allows you make accurate, fast, hassle-free trades.
  • Technology – The technology that comes with the platform gives traders an ability to enter advanced and conditional orders. Make sure that the best platform South Africa you choose allows you to enter orders of your choice with an interface that suits your trading style, preferences and goals.
  • Features – Some online trading platforms South Africa incorporate unique tools such as live TV, profitability calculators, and the ability to copy trades from other traders.
  • Security –  The best trading platform will make sure your money is safe.

Online Trading Platforms South Africa

What is the Best Trading Platform?

The best platform for you is the one that suits your investing strategy and financial needs. Some top and well-known online market trading platforms include:

  • TD Ameritrade: Best Trading Platform – Trade costs: $0.65 per contract
  • Webull: Best for No Commissions – Trade costs: $0
  • Tastyworks: Runner-Up – Trade costs: $1 per stock and ETF contract, up to $2.50 for futures
  • Interactive Brokers: Best for Expert Traders – Trade costs: $0.65 per contract or less with tiered pricing
  • Charles Schwab: Best Platform for Beginners – Trade costs: $0.65 per contract

Full List of Best Online Trading Platforms in South Africa 2020

  1. Plus500
  2. tastyworks
  3. Markets.com
  4. Saxo Bank
  5. CM Trading
  6. XM Group
  7. AvaTrade
  8. 24Option
  9. eToro
  10. Easy Markets
  11. IG
  12. TD Ameritrade
  13. Dukascopy
  14. City Index
  15. CMC Markets
  16. FXCM
  17. FOREX.COM
  18. OANDA
  19. Interactive Brokers
  20. Pepperstone
  21. Swissquote
  22. Darwinex
  23. HyCM
  24. FBS
  25. HotForex
  26. Cyber-FX
  27. Forex Time
  28. Standard Online Share Trading/Stockbroking
  29. Charles Schwab
  30. Fidelity
  31. E*TRADE
  32. TradeStation
  33. Merrill Edge
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