Best Stock Brokers in South Africa with 0% Fees - 2022 (2022)

Are you based in South Africa and wish to buy and sell stocks from the comfort of your home? If so, you will need to find a South Africa stock broker that meets your needs. In this guide, we explore the best stock brokers in South Africa of 2022. We also discuss some tips on how to find an online stock broker that is suited to your long-term investing goals.

Key Takeaways on Stock Brokers in South Africa

  • There are many different stock brokers that South Africans can choose to trade global stocks. Our preferred choice is FXVC.
  • Stocks can be traded either directly or via derivatives like contracts for difference (CFDs).
  • Each broker charges different fees and commissions. CFD brokers typically charge a percentage commission or a spread on the bid/ask price.
  • The best stock brokers in South Africa are those that are regulated by a top-tier agency like the FCA (UK) or the ASIC (Australia).

Best Stock Brokers in South Africa

If you’re just after a quick summary of the best stock brokers in South Africa, take a look at the list of top-rated brokers below.

  1. Capital.com– Impressive MT4 Broker with AI Trading Tools
  2. Libertex – Top-rated CFD Broker with Zero Spread Trading
  3. Plus500 – Low-cost CFD trading platform known for its low spreads
  4. AvaTrade – CFD stock broker with high leverage
  5. Absa Stockbrokers – Top South Africa-based stock broker
  6. Interactive Brokers – Shares from over 130 markets
  7. IG – Share dealing broker with over 10,000 shares
  8. FXCM – Long-standing stock broker with MetaTrader 4
  9. FXTM – High leverage broker with tight spreads

What is a Stock Broker?

Best Stock Brokers in South Africa with 0% Fees - 2022 (1)Put simply, if you want to buy shares in South Africa, you will need to use a stock broker. The industry itself has gone through a sea-change in recent years. This is because in a time not so long ago, South Africans would need to use a traditional brokerage firm to purchase stocks.

This would require you to call your broker up over the phone and tell them which shares you wanted to purchase. Then, the broker would need to personally locate the shares for you from the secondary markets.

Fast forward to 2022 and South Africans can now pick and choose which shares they wish to buy at the click of a button.

In fact, the best stock brokers in South Africa allow you to open an account, deposit funds, and buy shares in a matter of minutes. As such, the end-to-end investment process has never been easier. Everything is facilitated via your brokerage account, so you have the flexibility to deposit and withdraw funds, buy and sell stocks, and research companies as and when you see fit.

Best Stock Brokers in South Africa for 2022

Buying shares online in South Africa has never been more popular. After all, you simply need to open an account with a trusted share dealing site, deposit some funds, and then pick which stocks you want to buy. But, the difficult part is knowing which platform to sign up with.

To help point you in the right direction, below you will find a selection of the best stock brokers in South Africa. Each platform is heavily regulated, gives you access to heaps of shares, and allows you to easily deposit funds with a local payment method.

Capital.com – Low Cost Broker with AI Trading Tools

Capital.com is a great choice if you’re looking for a stock broker in South Africa. This broker offers more than 3,000 shares to trade from the US, UK, and Europe. Although the selection of shares from emerging markets isn’t huge, Capital.com makes it easy to find and trade hot stocks.

One of the best things about this broker is that stock trading is 100% commission-free. Capital.com’s share trading spreads are typically below the industry average, and there are no deposit or withdrawal fees to worry about. Even better, Capital.com doesn’t have an inactivity fee – so you won’t be charged if you want to buy and hold or take a break from trading for a few months.

Capital.com has its own custom trading platform that’s available on the web or as a mobile app for iOS and Android. It’s very easy to use and includes dozens of built-in technical studies to help you decide when to trade. The platform also has helpful tools like a news feed and economic calendar, so you can stay ahead of the market.Best Stock Brokers in South Africa with 0% Fees - 2022 (3)

Another cool feature Capital.com’s platform offers is AI to help you trade better. The software analyses patterns in your trading and identifies common themes around your winning and losing trades. From that, the AI will suggest ways you can change your trading behavior to boost your win rate.

Capital.com is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA). The platform offers 24/7 customer support by phone, email, and live chat. You can open a new account with just a $20 minimum deposit.

Capital.com fees:

Commission0%
Deposit FeeFree
Withdrawal feeFree
Inactivity feesNone

Pros:

  • Super user-friendly online stock broker
  • Buy shares without paying any commission
  • 3,000+ shares to trade
  • Mobile trading app
  • Regulated by the FCA and CySEC
  • 24/7 customer support

Cons:

  • Trading platform has limited technical analysis tools

Visit Capital.com Now

75.26% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

Libertex – Top-rated CFD Broker with Zero Spread Trading

Libertex is a brand that most investors are familiar with nowadays. If you want to speculate on the price movements of underlying assets such as forex, commodities, stocks, cryptos, ETFs, and more then this low-cost CFD trading platform is worth considering. Libertex was founded in 1997 and has been providing CFD trading services to its clients ever since. It has more than 20 years of experience in the financial markets and online trading scene. Libertex offers CFD trading on over 250 tradable assets.

Customers can choose between two trading platforms: MT4 or MT5 and the Libertex native platform. Libertex’s proprietary web trader platform is ideal for new traders who want a straightforward online trading platform with no technical jargon. Advanced traders can use the popular MetaTrader trading suite, which includes technical indicators, customizable charts, drawing tools, and robo-advisory services, to automate their trading. For those interested in forex trading, MT4 is the best option.

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When it comes to tradable assets, it’s important to remember that CFD trading is not the same as traditional investing. Simply put, you are not the owner of the underlying asset. Instead, you trade CFD derivatives based on an asset’s intrinsic price, such as FX, stocks, ETFs, commodities, and so on. As previously stated, a contract for difference (CFD) is a type of financial derivative that allows you to trade market price changes without owning the underlying security.

Libertex makes it simple to deposit funds into your account. Credit cards, debit cards, e-wallets, and bank transfers are just a few of the payment options available to you. While there are no deposit fees, withdrawal costs differ depending on your preferred method of payment. Withdrawing payments from PayPal and Skrill, for example, incurs no fees. The free trading platform levies a commission per trade as a result of the broker’s spread-free offering.

In terms of security and regulations, Libertex Pty., is a South African financial services company (FSP Number 47381) and is regulated and supervised by the Financial Sector Conduct Authority (FSCA). If you’re looking for the best FSCA brokers, be sure to check out our comprehensive guide.

Libertex Fees:

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Bid-Ask Spread0%
Deposit FeeFree
Withdrawal feeVaries depending on payment method
Inactivity fees10 EUR per month after 180 days

Pros:

  • Zero spreads and low commissions
  • User-friendly mobile app
  • Access to 250+ tradable CFD assets
  • Supports MT4 and MT5
  • Regulated by FSCA

Cons:

  • Only supports CFD trading

Visit Libertex Now

74% of retail investor accounts lose money when trading CFDs with this provider.

While the other providers on one of the stock brokers in South Africa focusing on traditional stock investments, some of you might be looking to ‘trade’. By this, we mean that you will be trading share CFDs with the view of speculating which direction the markets will move. Plus500 is a market leader in this respect – with thousands of financial instruments available to trade.

This includes a whopping 2,000+ instruments from heaps of markets. In fact, you can even trade share CFDs from the JSE. For example, you can speculate on the short-term price movement of Gold Fields, Anglo American, Sasol, Impala Platinum, Clicks, and many others. Regardless of which share CFDs you decide to trade, you will always the option of going long (buy order) or going short (sell order).

Plus500 also offers leverage facilities, meaning that you can trade with more than you have in your account. This stands at 1:30 – albeit, your limits will be dictated by the asset class and your trading status (professional or retail client). The most appealing aspect of trading share CFDs at Plus500 is that the platform charges no commissions. Instead, it’s only the spread that you will pay.Best Stock Brokers in South Africa with 0% Fees - 2022 (7)

Outside of share CFDs, Plus500 also offers markets on indices, hard metals (like gold and silver), energies (like oil and gas), interest rates, and even cryptocurrencies. Once again, the aforementioned asset classes are also represented via CFDs. There is no requirement to download or install any software to trade at Plus500, as everything is facilitated via its website. You can also trade on your mobile phone via the Plus500 app.

If you do like the sound of share CFD trading, you can open an account for just £100 – which is about 1,500 rands. The trading platform supports South African debit/credit cards and bank wires. You can also deposit funds with your Paypal account. There are zero fees attached to deposits and withdrawals – no matter which payment method you use. Finally, Plus500AU Pty Ltd holds AFSL #417727 issued by ASIC, FSP No. 486026 issued by the FMA in New Zealand, and Authorised Financial Services Provider #47546 issued by the FSCA in South Africa.

Plus500 fees:

Commission0% (spreads on CFDs)
Deposit FeeFree
Withdrawal fee$5
Inactivity fees$10 per quarter after 3 months inactivity

Pros:

  • Commission-free CFD platform – only pay the spread
  • Thousands of financial instruments across heaps of markets
  • Leverage of up to 1:30
  • Ability to enter buy and sell positions
  • Takes just minutes to open an account and deposit funds

Cons:

  • CFDs only
  • Only suitable for experienced traders

AvaTrade – CFD Stock Broker with High Leverage

AvaTrade is another top stock broker in South Africa. This platform offers trading on more than 600 share CFDs from the US, UK, and Europe. Even better, all share CFDs on AvaTrade trade 100% commission-free and the broker has some of the tightest spreads in South Africa.

Part of what makes AvaTrade stand out is that you can trade most US-listed stocks with up to 10:1 leverage. While that might not sounds like a huge amount, most competing brokers let you use a maximum of 5:1 leverage for share trading or none at all. So, with just $100 at AvaTrade, you can take a stock position worth up to $1,000.

We also think traders will love AvaTrade’s trading platforms. The broker offers a standalone trading platform for web and mobile, which includes advanced charting tools, a stock news feed, alerts, watchlists, and more. AvaTrade also supports automated trading and has a calendar to help you monitor upcoming stock earnings reports.

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Even better, AvaTrade offers a social trading app – AvaSocial – for iOS and Android devices. With this app, you can follow other traders and start discussions about the market or new trading strategies. You can also copy the positions of more experienced stock traders, which makes it easy to build a highly diversified and actively traded portfolio in minutes.

AvaTrade is regulated by top-tier watchdogs in the UK and Australia as well as by South Africa’s Financial Services Conduct Authority. All accounts include negative balance protection, so you can never lose more than you deposited to your account when trading with leverage. AvaTrade requires a $100 minimum deposit to open a new account.

AvaTrade Stockbrokers fees:

CommissionSpread, 0.13% for US stocks
Deposit FeeFree
Withdrawal feeFree
Inactivity fees700 rands after 90 days

Pros:

  • Trade over 600 US, UK, and European stocks
  • Leverage up to 10:1
  • 0% commission trading with low spreads
  • Social trading mobile app
  • Negative balance protection
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Cons:

  • High inactivity fee after 3 months

Visit AvaTrade Now

Your capital is at risk.

Absa Stockbrokers – One of the Best JSE Stock Brokers

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If you are searching specifically for JSE stock brokers, then you might want to consider Absa Stockbrokers. Crucially, the South African platform gives you access to the domestic stock exchange – meaning that you can buy shares in some of your favourite South African companies.

This includes everything from BHP Billiton, Discover, Richemont, Investec, Firstrand, and Mindi. Absa is also popular with South Africans because you will be able to invest in a variety of JSE indexes. This allows you to speculate on the wider stock markets as opposed to buying shares in individual companies. ETFs are also supported, which is great for diversification purposes.

In terms of buying shares in JSE companies, you will be charged a brokerage fee of 0.4% at a minimum of 120 rands. Then, you also need to take into account a monthly administration fee of 75 rands plus VAT. The good news is that you can waive the administration fee for the remainder of the respective month when you place 3 or more traders. In terms of ETF fees, this stands at 0.2% with a minimum of 60 rands. We should also note that Absa Stockbrokers gives you access to a plethora of international stock markets.Best Stock Brokers in South Africa with 0% Fees - 2022 (11)This includes exchanges in the US, UK, Europe, Ireland, Norway, Italy, and more. However, fees are very expensive when buying offshore shares at Absa Stockbrokers. For example, buying US shares like Facebook, Netflix, Apple, or Amazon will cost you $25 per trade. As such, you are best advised to use a commission-free broker like Capital.com for this purpose.

Absa Stockbrokers fees:

Commission0.4%, minimum of 120 rands for JSE shares, $25 per trade for offshore shares
Deposit FeeFree
Withdrawal feeFree
Inactivity fees35 rands every 60 days

Pros:

  • Domestic JSE stock broker for South Africans
  • Buy shares in South African companies
  • South African indexes and ETFs supported
  • Access heaps of international stocks
  • Easily deposit funds with a local payment method
  • Simple platform to use

Cons:

  • The website looks very outdated
  • Access to international shares is costly

Visit Absa Stockbrokers Now

Interactive Brokers – Best Stock Broker for Diversification and Low Fees

Best Stock Brokers in South Africa with 0% Fees - 2022 (12)Interactive Brokers is a market leader in the global investment space. Being a US-based brokerage firm, Interactive Brokers is heavily regulated. It does, however, provide full support for South African traders – meaning that you will have access to thousands of shares across 135 different markets. On top of stocks, you will also be able to invest in ETFs and funds.

Interactive Brokers is also useful if you require access to more sophisticated financial products. This includes CFD and forex trading – meaning that you can also apply leverage to your orders. We should note that Interactive Brokers is actually more suitable for those of you with experience in the online investment space – even if you simply want to buy shares.

This is because its in-house trading platform is highly advanced, so newbies are best advised to stick with a user-friendly broker like Capital.com. Nevertheless, one of the stand-out selling points of using Interactive Brokers is that you will benefit from some of the lowest South African stock broker fees in the space. In fact, this works out at just $0.005 per share that you buy. There is a $1 minimum commission in place, but this is minute.

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If you want to invest in mutual funds to benefit from a passive trading strategy, this costs $14.95 at Interactive Brokers (minimum investment $3,000).In terms of getting started, you will need ot go through a brief account opening process that will require some documentation from you.

Once you have verified your identity, you can deposit funds from your South African bank account. Minimum deposits stand at $2,000. When it comes to regulation, Interactive Brokers holds licenses in multiple countries. This includes the US, Australia, Singapore, Hong Kong, Japan, and the UK. As such, you should have no concerns about the safety of your funds.

IG fees:

Commission$0.005 per share, minimum $1 commission
Deposit FeeFree
Withdrawal feeThe first withdrawal of each month is free, then $1 – $10 depending on the withdrawal method
Inactivity fees$20 per month if you have less than a $2,000 account balance and don’t generate a minimum of $20 in commissions

Pros:

  • Super-cheap trading fees
  • Thousands of equities on offer
  • Perfect for experienced investors
  • Trade heaps of other asset classes
  • Leverage available
  • Strong regulatory standing

Cons:

  • Not suitable for newbie investors
  • JSE shares not supported

Visit Interactive Brokers Now

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IG – Trusted Stock Broker Platform With Access to the JSE

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IG is a UK-based brokerage firm with over 178,000 clients across dozens of countries – including South Africa. The platform offers share dealing services and CFD stock trading facilities. If you want to gain exposure to the South African financial markets from the comfort of your home, IG allows you to do this through its CFD facilities.

This includes the vast majority of companies that form the JSE 40 index. For example, you can trade Naspers, BHP Group, Richemont, Anglo American, and Sasol. Much like Plus500 – you will be able to enter buy and sell positions and access leverage facilities. IG also gives you access to the previously mentioned JSE 40 – so you can speculate on the short-term price movement of the domestic exchange.

When it comes to fees, IG is actually very competitive. However, this is only on the proviso that you are trading reasonably large volumes. This is because there is a minimum commission in play. So, IG has a commission trade of 0.20% of the total order value. But, this stands at a minimum of 100 rands. On the flip side, IG offers some of the most competitive spreads in the space when trading share CFDs. As such, should also be taking into account when assessing the firm’s fees.

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If you want to get started with IG today, you will need to meet a minimum deposit of £250. This amounts to about 5,200 rands. You can fund your account with a South African debit card, credit card, or bank account. If using a credit card, a fee of 0.5% is charged on MasterCard deposits, and 1% with Visa. Finally, IG is regulated in several countries – so you should have no issues regarding trust.

IG fees:

CommissionUK shares £3 if more than 3 trades made in the previous month, £8 if 2 or fewer trades

US shares free if more than 3 trades made in the previous month, £10 if 2 or fewer trades

All other shares 0.1% with a minimum of EUR 10

Deposit FeeFree
Withdrawal feeFree
Inactivity fees£12 a month after 2 years of inactivity

Pros:

  • Trusted broker with a long-standing reputation
  • Good value share dealing services
  • Leverage and short-selling also available
  • Spread betting and CFD products
  • Access to dozens of international markets
  • Great research department

Cons:

  • Minimum deposit of £250 – or 5,200 rands
  • Stock CFDs on the JSE have a minimum commission of 100 rands

Visit IG Now

How do Stock Brokers in South Africa Work?

The actual process of using an online stock broker could not be easier. Irrespective of which platform you use, you will typically need to do the following:

  • Open an account with your chosen share broker
  • Upload some ID to confirm your identity
  • Deposit some funds with your debit/credit card or bank account
  • Choose which shares you want to buy
  • Complete the investment

At this stage, you will be the proud owner of your chosen stocks. You do not need to anything else until you decide to cash out your shares. You can typically do this whenever you see fit – during standard market hours. This makes South African stock brokers a good option if you want to invest in a liquid asset class, as you can easily sell your shares back to rands.

As you likely know, lots of companies – both in South Africa and overseas, pay dividends. If you hold at least one share in a dividend-paying company, the cash will be paid into your brokerage account. You can then withdraw the funds back to your South African debit/credit card or bank account. Alternatively, you might decide to re-invest the dividend payments into other shares.

South Africa Stock Broker Fees: What you Need to Know

It will come as no surprise to learn that you will need to pay a fee of some sort when buying shares online. After all, the brokerage firm in question offers its services to make a profit. The specific fees can vary quite considerably, which is why you need to check this before opening an account. Not only does this include a variation in commission rates, but also the nature in which the transaction is charged.

For example:

  • Some South Africa stock brokers charge a flat fee. Irrespective of how much you invest, you will always pay the same fee. This is beneficial if you are looking to trade large volumes.
  • In other cases, South African stock brokers will charge a variable commission. For example, if the commission stands at 0.5% and you buy 10,000 rands worth of shares, then you will pay a fee of 50 rands. This is more beneficial if you want to trade small volumes.
  • In much rarer cases, platforms like Capital.com charge neither a flat or variable fee. Instead, you can buy shares on a commission-free basis.

On top of trading fees, you also need to check whether or not a monthly dealing or administration fee is in play.

To give you an idea of what you are likely going to pay in 2022 – check out the comparison table below.

Stock BrokerCharge Per TradeAnnual FeeConversion Fee
LibertexCommissionNone0.0001%
Plus5000% CommissionFree0.50%
AvaTrade0% Commission, 0.13% SpreadFree0.50%
IG100 ZAR minimum on SA Stock CFDsAbout 500 ZAR per quarter (less than 3 trades)0.50%
Interactive Brokers$0.005 per share ($1 minimum)$10 per month – fewer commissions paid0.1 – 0.2 basis points, minimum of $2
Absa Stockbrokers0.4% (120 ZAR minimum)75 ZAR + VAT per month (less than 3 trades)0% on JSE trades
Capital.comFreeFree0.50%

Currency Conversion Fee

If you have read our stock broker guide up to this point, then you might have noticed that non-domestic platforms charge a currency conversion fee. This is because you will be accessing international stock markets that are traded in a currency other than the rand. If using a popular broker like Capital.com or Plus500, this stands at just 0.5%.

For example:

  • Let’s suppose that you deposit 15,000 rands into Capital.com
  • At the point of the deposit, you will pay a currency conversion fee of 0.5%
  • This amounts to a fee of 75 rands
  • After that – it doesn’t matter if you buy shares in companies listed in the US, UK, Australia, Suadi Arabia – or any other marketplace for that matter, you will not need to pay any additional fees

In other cases, platforms like Absa Stockbrokers will charge you a flat fee when accessing international markets. This can actually work out very expensive when investing smaller amounts. For example, Absa charges $25 to buy shares listed on the NYSE or NASDAQ – which is huge.

You might have noticed from our list of the best stock brokers in South Africa that there are two options when it comes to gaining exposure to the stock markets. This includes ‘investing’ in shares and ‘trading’ share CFDs. It is important for you to understand the difference.

Put simply, if you want to buy shares and hold on to them for several years, you will be ‘investing’. This means that you will own a small percentage of the company in question – proportionate to the size of your investment.

You will also be entitled to vote in shareholder meetings and receive dividends. This particular avenue is ideal for long-term investments, as you can keep hold of your shares for as long as you see fit.

Share ‘trading’ will give you exposure to the stock markets, but it is more of a short-term strategy. That is to say, you will be speculating on the short-term price movement of a company – with the view of making small, but frequent profits. This might come in the form of day trading or swing trading.

This particular option offers much more in terms of flexibility, as you can apply leverage and even short-sell a company. But, overnight financing fees are charged for each day that you keep your position open, which is why share trading is only suitable for short-term speculation.

The good news is that the best CFD brokers in the space allow you to trade shares without paying any commissions. Furthermore, the best South Africa CFD brokers, such as FXVC, will adjust your account balance when dividends are distributed by a firm. If going long, this means that you will receive a positive amount.

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How Safe are South Africa Stock Brokers?

Best Stock Brokers in South Africa with 0% Fees - 2022 (16)There is no one-size-fits-all answer to whether South Africa stock brokers are safe, not least because it depends on the respective provider. In other words, while some platforms have been in the game for decades and hold several licenses, others are relatively unproven.

In our view, this is why you should only consider joining a share broker if it is in possession of a tier-one license. In fact, this is one of the main reasons that South Africans opt for an international platform, as the likes of the FCA (UK), ASIC (Australia), and CySEC (Cyprus) are highly reputable.

By opting for a stock broker that holds at least one of the aforementioned licenses, you will benefit from:

  • Segregated Bank Accounts: All client funds are held in bank accounts that are separate from the broker’s working capital. In theory, this means that were the platform to go bust, your funds should be safe.
  • Anti-Money Laundering: As per national and regional anti-money laundering regulations, platforms are required to verify all registered users. This is done through an upload of your passport/driver’s license and proof of address.
  • Risk Warnings: All brokers licensed by a tier-one body are required to make the risks of investing super-clear. This ensures that you do not invest more than you can afford to lose.

If using a domestic brokerage firm, then you must ensure that the platform is licensed by the Financial Sector Conduct Authority (FSCA).

How to Find the Best Stock Brokers in South Africa

Although we have already discussed some of the best stock brokers in South Africa, there might come a time where you come across a new platform that we haven’t reviewed. If this is the case, there are several metrics that you need to explore before joining the broker in question.

This includes:

  • Regulation: As discussed in the section above, it is crucial that you only join a share broker if it regulated. In fact, we would suggest looking out for reputable licensing bodies like the FCA or ASIC. Once again, if you opt for a domestic-based broker, then you will need to ensure it is regulated by the FSCA.
  • Low Fees and Commissions: Brokerage fees can begin to add up very quickly – especially if you are looking to build a vast portfolio of stocks. As such, be sure to assess what share dealing fees you will be required to pay. In an ideal world, you will be using a commission-free stock broker like Capital.com
  • Tradable Markets: You then need to explore what shares the broker offers. For example, as you looking to buy shares in JSE-listed companies, or those based overseas? You can check this out before signing up.
  • Tools: The available trading tools vary widely from broker to broker. For example, Libertex has tools like a news feed, economic calendar, and AI to analyse your trades. On the flip side, brokers like IG support MetaTrader 4, which provides access to a wide range of advanced charting and analysis tools.
  • User-Friendliness: Some brokers are best suited for advanced traders, while others are conducive for those of you with little experience. You can generally get a feel for the target audience by browsing the South African share brokers’ website.
  • Customer Support: Having access to a dedicated customer support team is crucial. After all, you will be investing your hard-earned money. The most convenient support channel is that of live chat, albeit, some South Africans prefer to obtain guidance over the phone.

The above list of important metrics is not exhaustive. Ultimately, you need to be prepared to spend ample time researching your chosen stock broker before making a commitment.

How to Trade Stocks with Capital.com

Now that you are more familiar with what stock trading is and which provider you can use to buy stocks in South Africa, the following is a step-by-step guide to complete your first stock purchase using our preferred stock broker – Capital.com

Step 1: Open an Account with Capital.com

Opening an account with this provider is quite simple. Go to their official website and click on the “Open an account” button located at the upper right corner of the site. You will be prompted to provide some basic information and then you will be directed to the trading platform upon completing your registration.

Step 2: Verify Your Identity

Once you access the trading interface, you can click on the icon that has your initials, which is located at the upper right corner of the screen. There you will find an option that says “KYC”. Once you click there, you’ll find an area where you can upload a valid ID and proof of residence to verify your identity. The team at Capital.vom will typically take 24 hours or less to confirm you are who you say you are and then they will activate your account.

Step 3: Deposit Funds

Now that you have an active account, it is time to deposit some funds so you can buy your first shares. Capital.com accepts deposits via debit or credit card (MasterCard/Visa/Maestro), electronic wallets (Astropay, PayO, Neteller, Webmoney) or via wire transfer. If you use the first and second method, your deposit will be cleared instantly.

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Step 4: Buy Your First Stock

Once the funds are cleared, you can click on the Trade button – the first one located at the left panel of the trading interface – and you will easily find all the stocks supported by the platform by clicking on the “Stocks” label. Once there, you can filter the stocks by country, sector, and market sentiment by clicking on the different hashtags available as shown in the picture below.

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Capital.com – Best South Africa Stock Broker 2022

In conclusion, South Africans now have access to a vast number of online stock brokers. This includes platforms that offer traditional share dealing services, as well as more sophisticated instruments like stock CFDs. Either way, you need to ensure that your choice of stock broker is right for your individual needs before signing up. This should look at everything from fees and commissions, tradable shares, supported payment methods, and of course, regulation.

Our in-depth research concluded that Capital.com is leading the way across most of the aforementioned metrics. This is because the broker is heavily regulated, offers heaps of shares, and allows you to buy shares on a commission-free basis. If you want to start building your share portfolio today, simply click on the link below!

Best Stock Brokers in South Africa with 0% Fees - 2022 (19)

Visit Capital.com Now

75.26% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

Frequently Asked Questions on Stock Brokers in South Africa

Should I use an international stock broker?

Are South African stock brokers safe?

How do I buy JSE shares?

How much do the best JSE stock brokers charge?

What payment methods do stock brokers in South Africa offer?

What broker is best for trading?

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Which trading broker is best for beginners?

FAQs

What is the cheapest broker in South Africa? ›

1. Capital.com – Overall Best and Cheapest Online Trading Platform South Africa. Capital.com is our #1-rated trading platform in South Africa. This CFD broker offers trading on more than 3,000 stocks from the US, UK, and Europe, plus dozens of ETFs and stock indices.

What brokerage does not charge fees? ›

The Big Names in No-Fee Trading

The big names with free trading options as of the start of 2021 include Merrill Edge, ETRADE, TD Ameritrade, Robinhood, and SoFi. Vanguard, Fidelity, and Charles Schwab all have their own platforms as well.

Who is the best stock broker in South Africa? ›

Interactive Brokers is our top pick as the best online trading platform in South Africa. Interactive Brokers was founded in 1993, and its trading platform offers access to shares, options, forex, futures, bonds, and funds across 150 global markets.

Which broker is best for ZAR account? ›

10 Best Forex Brokers with ZAR Trading Accounts (2022)
  • ✔️HotForex – Overall, Best Forex Broker with a ZAR Account.
  • ✔️Exnesss – Super Low Spread ZAR Regulated Broker.
  • ✔️Khwezi Trade – Proudly ODP Regulated Forex Broker.
  • XM – Global Forex Broker offering a ZAR trading account.
24 Sept 2022

Which broker is best for beginners in South Africa? ›

These are the best Forex brokers for beginners in South Africa for 2022, according to our testing and our research.
  • HFM (HotForex) - Best Overall Broker for Beginners.
  • FXTM - Best Copy Trading Platform for Beginners.
  • AvaTrade - Best Mobile Trading Experience for Beginners.
  • XM - Best Overall Broker for Beginners.
19 Sept 2022

Which broker has the lowest minimum deposit in South Africa? ›

RoboForex offers unique solutions to South African traders with low minimum deposit requirements from 140 ZAR, making it easy for traders to register an account. There are more than 9,4000 financial instruments that can be traded spread across several asset classes.

Can you buy stocks without fees? ›

You don't need to work with a stockbroker to buy stocks. Online brokerages can do that for you. Online brokerages generally charge no fee for selling and buying stocks. Fee schedules may apply for options contracts and futures.

How can I invest without fees? ›

Simple Ways to Invest Without Fees
  1. Buy stocks and ETFs from zero-commission brokerage firms. ...
  2. Buy mutual funds through online brokerage firms. ...
  3. Buy commission-free ETFs through online brokerage firms. ...
  4. Buy mutual funds directly from fund companies. ...
  5. Buy stock and ETFs through special investing platforms.

How can brokerage fees be avoided? ›

Ways to reduce brokerage fees –

(i) Investing in exchange-traded funds (ETFs) rather than mutual funds as they almost always have lower expense ratios than mutual funds at par with them. ETFs are good options for those who have limited investment and market experience.

How do I find a reliable broker? ›

Jump to our picks for the best brokers for every kind of investor.
  1. Look at commissions on the investments you'll use most.
  2. Look for brokers with a track record of reliability.
  3. Pay attention to account minimums.
  4. Watch out for account fees.
  5. Look at the pricing and execution fine print.
  6. Consider tools, education and features.
25 Jan 2022

What's the cheapest trading platform? ›

Robinhood and Webull are the lowest commission brokerage accounts across stocks, ETFs, options, and cryptocurrencies -- they don't charge commissions.

How do you know if a broker is legit? ›

You can find out if brokers are licensed in your state, if they've had run-ins with regulators or received serious complaints from investors. Go to finra.org/investors and click on "FINRA BrokerCheck." Or call 1-800-289-9999.

Where can I trade with R50? ›

38 shares that can be traded on the JSE that cost under R50 each.
...
UPDATED COMPANY INFO:
  • FAMOUS BRANDS LTD. ...
  • CARTRACK HOLDINGS LTD. ...
  • CROOKES BROTHERS LTD. ...
  • GLENCORE PLC. ...
  • ADCOCK INGRAM HLDGS LTD. ...
  • NINETY ONE PLC. ...
  • OMNIA HOLDINGS LTD.
23 Dec 2020

Can you trade Nasdaq with r100? ›

Yes, you can trade NASDAQ 100 as a CFD instrument via an authorized broker. Most FSCA licensed forex brokers offer NAS100 & US Tech CFD instrument.

Can I start forex with r100? ›

Most brokers allow you to open an account with a minimum deposit of $100, as this is an amount that is affordable for most traders without bringing them unnecessary risk of loss. In the forex market, there is a place at the table for nearly every trader, no matter your investment size of your style.

Which broker has fastest withdrawal? ›

Best Brokers With Instant Withdrawals
  • Binance – Binance is a cryptocurrency exchange that offers instant withdrawals. ...
  • Coinbase – Coinbase is another cryptocurrency broker with instant withdrawals. ...
  • Exness – Exness is an online brokerage that offers stocks and forex trading on MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Is Trade245 a good broker? ›

Overall, Trade245 can be summarised as a credible and trustworthy broker and is considered average-risk with competitive trading fees and spreads. Trade245 offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.

Which Brokers are legal in South Africa? ›

HotForex (HF Markets)

Established in 2010, HF Markets is a well-regulated and globally recognised brokerage firm. HotForex is the trading arm of HF Markets and offers South African traders a safe, fair, and transparent trading environment where they can access hundreds of global financial markets.

Which broker does not have minimum deposit? ›

Oanda. Oanda does not require a minimum deposit to open a real account. Oanda allows traders to open positions on forex and other financial instruments with pennies. Deposits on Oanda can be made by wire transfer, credit cards, and eWallets.

Which broker has small minimum deposit? ›

Low Deposit Forex Brokers
Forex BrokerMin. Account SizeMax. Leverage
Renesource Capital$101:100
HotForex$51:1000
AccentForex$101:500
Profiforex$11:500
86 more rows

What is the minimum deposit at Trade245? ›

The Trade245 minimum deposit amount to open a real trading account is $100 / R1683,52. The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours.

Which is the best free trading app? ›

The Ascent's best free stock trading apps:
  • Mobile platform: E*TRADE.
  • Trading apps: TD Ameritrade.
  • No-frills stock and options trading: Robinhood.
  • Investing and banking in one: Ally Invest.
  • Diversified investing needs: Merrill Edge® Self-Directed.
  • Diverse investing needs: SoFi Active Investing.
12 Sept 2022

How do beginners get free stocks online? ›

Where can you buy stocks online for free? You can buy stocks without paying commissions at most online brokers these days. Charles Schwab, E-Trade and Robinhood all offer commission-free trading in stocks as well as ETFs. Robinhood even offers commission-free trades in options and cryptocurrencies.

Which is best online stock broker? ›

Zerodha is the top most stock broker among all the brokers in India since 2019. Zerodha is followed by Upstox, Angel One, ICICIdirect and Groww.

How do beginners buy stocks? ›

The easiest way to buy stocks is through an online stockbroker. After opening and funding your account, you can buy stocks through the broker's website in a matter of minutes. Other options include using a full-service stockbroker, or buying stock directly from the company.

How much do stock brokers charge? ›

The standard commission for full-service brokers today are between 1% to 2% of a client's managed assets.

Why are brokerage fees so high? ›

A brokerage fee is charged by many different financial services companies including brokerage firms, real estate houses, and financial institutions. This fee is normally charged annually to maintain client accounts, pay for any research and/or subscriptions, or to access any investment platforms.

Can a stock broker make me money? ›

Commission-based compensation -- Stockbrokers are generally compensated on commission, which means they earn money upfront when you buy or sell a specific type of investment. This contrasts with registered investment advisors, who generally charge clients a fee based on the amount they manage on the client's behalf.

How much do you get charged for selling stock? ›

These fees can be associated with stocks, mutual funds or ETFs. The typical industry standard fee for options trading is $0.65 to $1 per contract. If you're trading through a traditional brokerage, the fee may be much higher. A full-service broker may charge $100 or more to execute trades on your behalf.

How do I choose a stock broker? ›

Here are a few of the must-check factors while choosing a stockbroker in India:
  1. – Background & Reputation of the broker. ...
  2. – Brokerage and Other Key Charges. ...
  3. — Customer Services. ...
  4. — Trading Platforms Offered. ...
  5. — Advisory & Research Facilities. ...
  6. – Range of Facilities Offered. ...
  7. — Hidden Charges. ...
  8. — Fund Transfer.
17 Mar 2021

Is it better to invest with a bank or a broker? ›

It is better to invest with a bank if you want to maintain your money with minimal risk. On the other hand, a broker offers many advantages, including more opportunities for fast growth, in-depth knowledge of the stock market, and fewer fees.

How much is full-service broker? ›

Full-Service Broker Fees

But it's important to remember that full-service brokers are also salespeople. The average fee per transaction at a full-service broker is $150. This is much lower than in the past but still higher than discount brokers where on average a transaction costs approximately $10.

Who are discount brokers? ›

A discount broker is a stockbroker who carries out buy and sell orders at reduced commission rates compared to a full-service broker. However, a discount broker does not provide investment advice or perform analysis on a client's behalf, unlike a full-service broker.

What is full-service broker? ›

A full-service broker is a licensed financial broker-dealer firm that provides a large variety of services to its clients, including research and advice, retirement planning, tax tips, and much more.

Can you trust a broker? ›

Can You Trust a Broker? Because there are so many ways to check brokers, it is actually a bit rare to see a working broker who isn't licensed. However, a licensed broker could persuade you to make investments that benefit them or their firm more than you as a client.

How do you check if a broker is licensed in South Africa? ›

South African Financial Services Conduct Authority (FSCA)

Checking if a broker is regulated by the FSCA is easy. The FSCA offers a search tool for all authorised Financial Service Providers (FSPs) here: https://www.fsca.co.za/Fais/Search_FSP.htm.

Are online brokers safe? ›

Online trading is safe if you use a regulated online stock broker and never invest more than you are willing to lose. Trading stocks online is inherently risky. Start with a small amount of money, read investing books, and keep it simple by buying and holding for the long term rather than trying to time the market.

What's the cheapest trading platform? ›

Robinhood and Webull are the lowest commission brokerage accounts across stocks, ETFs, options, and cryptocurrencies -- they don't charge commissions.

Who is the richest forex trader in South Africa? ›

Jabulani Ngcobo born in 1985 is one of the most successful and richest Forex traders in South Africa. He is a self-made millionaire and also the author of the the book called “Cashflow Naked”. His book is not only a biography but also a lesson of financial education.

Which broker has NAS100 in South Africa? ›

Which is the best NAS100 broker in South Africa? As per our research, Hotforex & Exness & Tickmill are the most competitive FSCA regulated CFD brokers that offer NAS100 or US Tech 100 CFD indices instrument.

Which is the best free trading app? ›

The Ascent's best free stock trading apps:
  • Mobile platform: E*TRADE.
  • Trading apps: TD Ameritrade.
  • No-frills stock and options trading: Robinhood.
  • Investing and banking in one: Ally Invest.
  • Diversified investing needs: Merrill Edge® Self-Directed.
  • Diverse investing needs: SoFi Active Investing.
12 Sept 2022

How do I choose a stockbroker? ›

Jump to our picks for the best brokers for every kind of investor.
  1. Look at commissions on the investments you'll use most.
  2. Look for brokers with a track record of reliability.
  3. Pay attention to account minimums.
  4. Watch out for account fees.
  5. Look at the pricing and execution fine print.
  6. Consider tools, education and features.
25 Jan 2022

Which trading platform is best for beginners? ›

Best Online Brokers and Trading Platforms for Beginners of 2022
  • Best Broker for Beginners: TD Ameritrade.
  • Best Broker for Investor Education: TD Ameritrade.
  • Best Broker for Ease of Trading Experience: E*TRADE.
  • Best Broker for Customer Service: TD Ameritrade.

Is DJ Melzi a forex trader? ›

3 Melzi makes his money as an entrepreneur, musical artist, Forex Trader and DJ. Also, he's believed to have other valuable properties.

Who is the most successful trader in South Africa? ›

Ref Wayne. Ref Wayne is considered the best and most successful trader in South Africa who has developed the necessary trading skills to conquer the financial markets. Ref Wayne started trading from an extremely young age after struggling with a lack of career development opportunities.

Who is the forex king in South Africa? ›

Ref Wayne. Ref Wayne is the best and most successful Forex trader in South Africa.

How much ZAR do you need to trade NAS100? ›

Exness – Start Trading NAS100 with 15 ZAR Deposit.

Which broker gives free bonus? ›

Best Brokers with Welcome Bonus
#BrokerBonus type
1RoboForexWelcome Bonus
2AvaTradeWelcome Bonus
3XM GROUPWelcome Bonus
4AMarketsWelcome Bonus

How much money do you need to trade NAS100? ›

The spreads offered on NAS100 are on average $0.80 and can be as low as $0.40 during the UK/US sessions. Trading can be performed through the MT4 or MT5 account, with leverage up to 0:500 and just a $200 minimum deposit.

Is Passfolio free? ›

Passfolio Securities, as your US stock broker, don't charge you commission or account fees for trading stocks. To trade cryptocurrencies through Passfolio Financial, our US Money Services Business, our crypto partner Gemini charges 0.35% on each crypto trade, but we do not charge any fees on top of that.

Who owns Passfolio? ›

The idea for Passfolio came when founder David Gobaud was travelling the world in 2018 for a previous project and noticed how much demand there is for better investment opportunities.

Can I buy crypto on Passfolio? ›

To purchase securities using cryptocurrencies, you must first convert it into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.

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