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
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.
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.
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
- Saxo Bank
- CM Trading
- XM Group
- Easy Markets
- TD Ameritrade
- City Index
- CMC Markets
- Interactive Brokers
- Forex Time
Standard Online Share Trading/Stockbroking
- Charles Schwab
- Merrill Edge