The app offered by AvaTrade is called AvaTradeGO. The app also has a unique feature — the AvaProtect. This feature allows a trader to protect their investment against losses up to one million USD in exchange for a Hedging fee.

The AvaTradeGO app has a 4. AvaTrade offers ZAR account currency and accepts deposits via bank transfers in ZAR, credit cards, and other e-payment systems such as skill, WebMoney, and Neteller. It also has the same methods for the withdrawal of funds.

OctaFX was established in OctaFX is regulated by FSCA in South Africa as ORINOCO CAPITAL PTY LTD with FSP number The OctaFX app is called OctaFX Copytrading. It has a rating of 4. OctaFX also has another app called the Trading App which has a 4. OctaFX also supports the MT4 and MT5 apps. The OctaFX CopyTrade is only available for Android users. It is not available for those using iOS devices.

OctaFX does not offer ZAR as an account currency and currently does not support local funding methods i. EFT in ZAR. XM is registered with CySEC and IFSC Belize.

Hence, the broker is considered a high-risk platform for South African traders. XM Broker has four account types; the Standard Account, Micro Account, XM Ultra-Low Micro Account, and Shares Account. The average spread for major forex pairs is around 0. XM offers ZAR as account currency and allows deposit and withdrawal via cards, payments, bank wire transfers, local bank transfers,s, etc. FXTM is registered with the FSCA as FOREXTIME LTD and is a Financial Service Provider with FSP number So, they are considered low risk for SA traders.

The latest version of the FXTM app allows traders to open and close positions quickly, access live currency rates, and manage their trading accounts better. The FXTM app is available to Android users on the Google play store and iOS users on the Apple store. You can also use the MT4 and MT5 apps. On the Google play store, the FXTM app has an average 3. Although FXTM does not offer ZAR as an account currency, the broker accepts Internet banking transfers in ZAR, cards, and other e-payment systems for deposits and withdrawals.

Tickmill provides services for trading forex and CFDs on financial instruments. Tickmill was launched in and is registered in ZA as TICKMILL SOUTH AFRICA PTY LTD and regulated by the FSCA with FSP number Tickmill integrates its trading into the MT4 and MT5 mobile trading applications.

You can use the app on Android and iOS devices. CFDs on forex, stock indices, stocks, commodities, bonds, and cryptocurrencies are available on the app and it supports all trading orders. Stop limit and buy limit are part of the six pending orders supported on the app. Other perks that come with the app include trading signals, unlimited symbols, 38 technical indicators, and 44 analytical objects.

The execution is quick with an average of 0. Tickmill does not have ZAR as an account currency. You can deposit and withdraw funds on Tickmill via local bank transfers in South Africa, cards, and e-wallets. The Financial Sector Conduct Authority FSCA is the government body that regulates the activities of forex brokers and other financial service providers operating in South Africa. This body is important because it serves as protection against any form of misappropriation or fleecing from financial service providers.

The FSCA does its job by issuing a unique number to all financial service providers registered under it. This unique number is called the FSP license number. Forex brokers and financial service providers usually sample this FSP license number on their websites.

This is done to create trust on the part of the client. This can be done on the platform for Financial Service Providers. Step 1: HF Markets has an FSP licence number To verify registration, you either search using the FSP number or using the name on FSP authorised financial service provider website. You can enter the FSP Name of the FSP No.

that you have gotten as explained in the step above and click submit. Step 3: Secondly, we check the authorization status of the broker. Their trading name and FSP name. The illustration above is for those registered with the FSCA. There are also other international regulatory institutions such as the Financial Conduct Authority FCA in the U. K, the Cyprus Securities and Exchange Commission in Cyprus, and the Australian Securities and Investment Commission ASIC of Australia.

All these are referred to as Tier-1 regulators. Brokers who are registered with these regulators have a higher trust rating compared to those who are regulated by low-tier regulators. These low-tier regulators are regarded as high risk for traders. For traders in South Africa, it is important to choose a broker that is registered with the FSCA. Most brokerage firms make their profits through these charges.

Some brokers do charge a commission on deposits and withdrawals. A trader wishing to register with any broker should make proper enquiries on their charges and commission. Some brokers do charge trading commissions for opening and closing trading positions on some account types and exempt charges on other account types.

Potential traders should know all these before registering on the trading app. A spread is the difference between the buy and sells price of an instrument on offer by a broker. Most brokers who claim not to charge trading fees do have a very high spread. A trader should check for brokers with low spreads or at best zero spreads to protect their investments. As a potential forex trader, you should have an idea of the instruments you plan to trade. Some brokers do not offer particular currency pairs for reasons best known to them.

All brokers do not offer the same number of currency pairs on their platforms. Some offer more currency pairs than others. A trader should also take note of the currency pairs on offer. In forex trading, we have major, minor, and exotic currency pairs. They are called major currency pairs because they are the most traded forex instruments in the world. Minor currency pairs are those that do not include the U. S dollar. An exotic currency pair includes one major currency with another from an emerging market or developing country.

Before choosing a forex trading app, the broker must have major, minor and exotic currency pairs on offer to have a diverse array of forex instruments to choose from. In fact, you can check the range of instruments available on your trading app.

Let us use HF Markets Hotforex as an example. From the image above, it is clear the HF Markets trading app has currency pairs, ETFs, commodities, etc. If you click on any of the products, you will see more details. Spreads, swaps, and trading hours for all instruments can be seen. If you clicked on forex, here is what you will see below. Additionally, this platform offers leverage, so you can amplify your account balance at the click of a button.

Perhaps most importantly, you can trade stock CFDs on Plus without paying any commission. We also like the 'Trader's Sentiment' tool provided by the platform.

This tells you in percentage terms how many Plus traders are long on the stock CFD and how many are short. Although Plus is our top-rated South Africa trading platform for stocks, the provider offers heaps of other CFD markets. This includes everything from forex and indices to ETFs and cryptocurrencies. Once again, these alternative markets on Plus can be traded commission-free.

If you want to get started with this trading platform, you can open an account online or via the Plus mobile app. When it comes to the safety of your money, Plus has a great reputation. Its parent company is publicly-listed in the UK and it holds a variety of licenses.

Crucially, it is authorized to accept South African traders on its platform. Visit Plus Now Although most traders in South Africa stick with established asset classes like stocks or forex, some prefer more volatile marketplaces. If this sounds like you, Skilling is arguably the best crypto trading platform in South Africa.

In total, you can trade 10 popular crypto assets against the US dollar. This includes everything from Bitcoin, Ethereum, and Ripple to NEO, Dash, and EOS. As Skilling specializes in CFD instruments, you won't own the underlying crypto asset.

But, this does give you the option of shorting your chosen digital currencies - should you believe their value will decline. Plus, Skilling offers leverage of up to , albeit, you'll get significantly less when trading cryptocurrencies.

Nevertheless, another benefit of using this top-rated trading platform is that you will not need to pay any commission. Instead, it's only the spread that needs to be taken into account. This starts at just over 63 pips when trading Bitcoin against the US dollar - which is very competitive.

Although Skilling is great for cryptocurrencies, the trading platform also hosts other CFD markets. This includes heaps of US-listed stocks, indices, forex, and commodities like gold and oil. When it comes to the trading platform itself, Skilling covers all bases. This is because you trade via the Skilling platform online or via a mobile app.

Or, you can trade via popular third-party platforms MT4 and cTrader. This includes debit and credit cards, e-wallets, and bank transfers. Finally, although Skilling was launched as recently as , it holds fully-fledged licenses with CySEC and the FSA.

Visit Skilling Now. Launched in , CM Trading is an online trading platform supervised by the FSCA. With more than 1 million clients on its books, this popular trading platform gives you access to a variety of markets.

This includes forex, hard metals, energies, and indices. The platform also offers CFD Expirations, which are similar in nature to futures. The only difference is that you will not be liable to settle the underlying contract on expiry.

These futures-like CFD markets cover a selection of indices - such as the Down Jones and DAX, alongside commodities like natural gas and crude oil. There are three platforms to choose from on CM Trading. This includes Sirix - which was built by the platform itself. MT4 is also supported, as is a fully-fledged CM Trading mobile app. When it comes to trading fees, CM Trading builds everything into the spread.

We should, however, note that this platform is on the high side. There are also overnight financing fees to take into account, should you keep a position open past market hours. CM Trading offers high leverage limits, especially on forex.

For example, major pairs come with leverage of , which is huge. If you opt for this South African trading platform, you can deposit funds easily. Finally, we should make reference to the CopyKat feature at CM Trading. This is a social trading tool that allows you to select one of the platform's top-rated traders, and then copy all of their ongoing positions.

Visit CM Trading Now. If you read through each of our reviews of the best online trading platforms South Africa, you'll note that no two providers are the same. For example the likes of CM Trading offer just Similarly, while some trading platforms in South Africa offer really tight spreads, others are on the high side.

With this in mind, it's best to perform some research on your chosen trading platform before taking the plunge. The most important factors to cross-check when comparing the best brokers in South Africa are discussed in more detail below. All of the best online trading platforms that we reviewed on this page are authorized and regulated by at least one financial body. For example CM Trader and AvaTrade are licensed by the FSCA.

Either way, it's absolutely crucial that you only open an account with a trusted provider that is regulated. In doing so, you'll benefit from various safety nets that unlicensed brokers cannot rival. Ultimately, by opening an account with a regulated trading platform, you can ensure that you avoid unsavory providers, and thus - your money is kept safe. You then need to think about which assets you wish to trade from the comfort of your home - and whether or not the platform supports it.

Additionally, you'll need to check how extensive each asset class offering is. For example, the platform might very well support stocks, but does it offer the specific exchange or market that you want to access? Once you are sure that your chosen provider is regulated and supports your preferred financial markets, it's then time to explore what fees will be expected of you. This can be a complicated process - as not all trading platforms in South Africa are transparent about what they charge.

Additionally, although some platforms offer a commission-free service, these fees are often countered by the spread. Below we discuss the most important fees to look out for in your search for the best trading platform in South Africa. All of the best online trading platforms South Africa discussed on this page offer a commission-free service.

This means that you won't pay a fee when you enter and exit a trade. You will, however, need to factor in the spread - which we cover shortly. With that said, many trading platforms in South Africa do charge a commission - especially if you plan on investing in traditional assets like stocks. This is often charged as a flat fee - so you always pay the same irrespective of how much you invest.

If your chosen trading platform is commission-free, you should expect the spread to be slightly higher than that of a commission-charging provider. In addition to spreads and commissions, you should also check to see what the provider charges in other areas of its platform. If you can't find a specific fee at your chosen trading platform - this should be viewed as a red flag. After all, regulated trading platforms are required to be transparent about what they charge - so it shouldn't be difficult for you to find the information you seek.

Some trading platforms in South Africa allow you to buy stocks and sell - and nothing more. At the other end of the scale, some providers give you access to a full host of trading tools and features. If you're looking to invest in traditional assets like bonds, ETFs, and stocks - it's always useful when the platform offers fractional ownership.

This means that you can invest in your chosen asset without needing to invest in a full security. A lot of South Africans want to invest in the financial markets, but they have virtually no experience of trading.

If this sounds like you, it's best to use a trading platform that offers an assortment of passive investment tools. As we discussed earlier, AvaTrade offers a Copy Trading service that allows you to actively trade without lifting a finger. All you need to do is select a pro-trader that you wish to mirror, and the platform takes care of the rest. The best traders in the online space understand the ins and outs of technical and fundamental analysis.

These are skills that can take a long time to truly master, so we find the best trading platform for beginners offers an array of educational materials.

For example, you'll want access to market insights and trading ideas. Plus, guides, webinars, and podcasts. Essentially, you'll want to extract as much key information as you can to take your trading knowledge to where it needs to be.

If you're an experienced trader then you will know the importance of being able to read pricing charts. In order to do this effectively, you need to choose a trading platform in South Africa that offers advanced technical analysis tools. On top of indicators and trading signals, you'll want to be able to customize your screen. In addition to technical analysis, long-term investors in the room will point to the importance of financial news.

This is especially the case when investing in stocks - so you'll want a trading platform that gives you access to company reports and key accounting ratios. Some of the best trading platforms in South Africa that we came across also offer real-time news developments.

They do this through an integrated news feed with the likes of Morningstar and Thomson Reuters. If you are looking to join a top-rated trading platform in South Africa for the very first time - you might want to hold back before you make a deposit.

Instead, why not consider trading via a demo account that mirrors real-world market conditions? Not only does this allow you to get a feel for the broker, but you can also get to grips with how the trading scene works. Additionally, you can also try out trading strategies without needing to risk any funds.

All of the top-rated providers discussed on this page offer a native trading platform. This means that they built the trading platform themselves - typically with a specific type of investor in mind.

For example, Skilling have clearly designed their web-trading platforms with newbies in mind. Not only is it is to find your chosen asset, but placing entry and exit orders are a breeze.

On the other hand, some of the best online trading platforms South Africa that we came across are best suited for experienced pros.

This is because the platform will come packed with heaps of market data such as depth and order book volume , advanced pricing charts, and enhanced order types. These features are going to be great for those of you that know your way around a trading platform - but not if you are a beginner.

This is why we prefer the best brokers in South Africa that offer a demo account. This way, you can test the user experience out risk-free before making a deposit. When you feel ready to make a deposit and thus - start trading assets with real money, you will need to make a deposit. Most trading platforms in South Africa allow you to make a bank account transfer. This will, however, often take several days to arrive. You also need to remember that even the best forex brokers with ZAR accounts have a minimum deposit in place.

That equates to around 1, ZAR to 3, ZAR. Additionally, certain deposit or withdrawal fees might apply - especially if you are using an international brokerage firm. All of the platforms discussed on this page offer a smooth and seamless trading experience. However, there might come a time when you need to speak with a member of the customer service team. If the matter is urgent, you'll want to choose a trading platform that offers live chat.

Telephone support is also an option, albeit, you'll need to check whether or not a local South African tool number is offered. We also find that the best trading platforms in South Africa have a presence on social media.

This ensures that the provider has to answer questions in the public domain. You should now know the ins and outs of how to choose a trading platform in South Africa. Once you have selected a provider, you'll need to open an account. You'll first need to visit the trading account website and open an account. This will require you to provide some personal information, contact details, and a very brief overview of your trading experience.

You will also need to upload a couple of documents so that the platform can verify your identity. It's now time to search for the asset that you wish to trade.

The easiest way to do this is to use the search box at the top of the screen. This is a simple process, as you simply need to select from a buy or sell order - depending on whether you think the asset will rise or fall. Before you start trading with a trading platform, it is important to understand market conditions and how they can affect the price of stocks.

The two main conditions to be aware of are bull and bear markets. A bull market is a market condition in which the price of assets and shares are rising. In a bull market, prices are often predicted to continue increasing.

We tracked over 20 Brokers that offer their Forex Trading apps to traders in South Africa. But not all forex apps are safe or the same. How good is the forex trading app being provided by a broker? Are they regulated and registered by the FSCA in South Africa?? Do they have good reviews on the Google play store?

What about the availability of EFT or Internet Banking transfers for funding and withdrawal for South African traders? We compared these Apps based on our 11 Factors. HF Markets HotForex is a forex brokerage firm that was established in HF Markets is registered in South Africa as HF MARKETS SA PTY LTD with the FSCA. It has Financial Services Provider FSP number The HF Markets app has a 4.

It also has a good number of positive reviews from its users. This app comes with a couple of features such as allowing deposit, withdrawal, and transfer of funds, and advanced chart functionality- this allows traders to choose between various graph types, and time frames and apply technical indicators.

It also provides daily market analysis. For iPhone users, the HFM app is available on iOS devices in the apple store. It can easily be downloaded. The features on the iOS app include; entering instant and pending orders, the ability to hedge funds, monitoring live orders, dynamic monitoring of account details, viewing full trading history, one-click execution, etc.

HF Markets offers ZAR as account currency and allows deposit and withdrawal via South African local banks via EFT. Exness is a forex brokerage firm that was established in Excess is registered in South Africa as a Financial Service Provider with the name EXNESS ZA PTY LTD.

It has FSP number Excess uses the MetaTrader 4 and MetaTrader 5 platforms as its app. This app can be downloaded on the Exness website or google play store for Android users. Alternatively, iOS users can download this app from the Apple store. The Exness Trade app has a 4. The app is also available on iOS App Store and allows users flexible trading. This includes trading using two types of execution. It also allows users to trade using a variety of executions regardless of their complexities.

The Exness MT4 app has trading analytics for users. There are 30 built-in technical indicators and around 23 analytical objects. Due to a special built-in robot called Expert Advisors, trading operations can be fully automated on the platform.

You can create your own EAs as well on MetaTrader. Exness offers ZAR account currency and allows traders in South Africa to deposit funds from their local bank accounts via Internet Banking Transfer and also other payment systems such as credit cards, skrill, Neteller, etc. AvaTrade was established in It is registered with the FSCA as AVA CAPITAL MARKETS PTY LTD AVA TRADE.

Its license number as a Financial Service Provider is The app offered by AvaTrade is called AvaTradeGO. The app also has a unique feature — the AvaProtect. This feature allows a trader to protect their investment against losses up to one million USD in exchange for a Hedging fee. The AvaTradeGO app has a 4. AvaTrade offers ZAR account currency and accepts deposits via bank transfers in ZAR, credit cards, and other e-payment systems such as skill, WebMoney, and Neteller.

It also has the same methods for the withdrawal of funds. OctaFX was established in OctaFX is regulated by FSCA in South Africa as ORINOCO CAPITAL PTY LTD with FSP number The OctaFX app is called OctaFX Copytrading. It has a rating of 4. OctaFX also has another app called the Trading App which has a 4.

OctaFX also supports the MT4 and MT5 apps. The OctaFX CopyTrade is only available for Android users. It is not available for those using iOS devices. OctaFX does not offer ZAR as an account currency and currently does not support local funding methods i. EFT in ZAR. XM is registered with CySEC and IFSC Belize. Hence, the broker is considered a high-risk platform for South African traders. XM Broker has four account types; the Standard Account, Micro Account, XM Ultra-Low Micro Account, and Shares Account.

The average spread for major forex pairs is around 0. XM offers ZAR as account currency and allows deposit and withdrawal via cards, payments, bank wire transfers, local bank transfers,s, etc. FXTM is registered with the FSCA as FOREXTIME LTD and is a Financial Service Provider with FSP number So, they are considered low risk for SA traders.

The latest version of the FXTM app allows traders to open and close positions quickly, access live currency rates, and manage their trading accounts better. The FXTM app is available to Android users on the Google play store and iOS users on the Apple store. You can also use the MT4 and MT5 apps. On the Google play store, the FXTM app has an average 3.

Although FXTM does not offer ZAR as an account currency, the broker accepts Internet banking transfers in ZAR, cards, and other e-payment systems for deposits and withdrawals. Tickmill provides services for trading forex and CFDs on financial instruments. Tickmill was launched in and is registered in ZA as TICKMILL SOUTH AFRICA PTY LTD and regulated by the FSCA with FSP number Tickmill integrates its trading into the MT4 and MT5 mobile trading applications.

You can use the app on Android and iOS devices. CFDs on forex, stock indices, stocks, commodities, bonds, and cryptocurrencies are available on the app and it supports all trading orders. Stop limit and buy limit are part of the six pending orders supported on the app. Other perks that come with the app include trading signals, unlimited symbols, 38 technical indicators, and 44 analytical objects.

The execution is quick with an average of 0. Tickmill does not have ZAR as an account currency. You can deposit and withdraw funds on Tickmill via local bank transfers in South Africa, cards, and e-wallets. The Financial Sector Conduct Authority FSCA is the government body that regulates the activities of forex brokers and other financial service providers operating in South Africa.

This body is important because it serves as protection against any form of misappropriation or fleecing from financial service providers. The FSCA does its job by issuing a unique number to all financial service providers registered under it. This unique number is called the FSP license number. Forex brokers and financial service providers usually sample this FSP license number on their websites.

This is done to create trust on the part of the client. This can be done on the platform for Financial Service Providers. Step 1: HF Markets has an FSP licence number To verify registration, you either search using the FSP number or using the name on FSP authorised financial service provider website.

You can enter the FSP Name of the FSP No. that you have gotten as explained in the step above and click submit. Step 3: Secondly, we check the authorization status of the broker.

Their trading name and FSP name. The illustration above is for those registered with the FSCA. There are also other international regulatory institutions such as the Financial Conduct Authority FCA in the U. K, the Cyprus Securities and Exchange Commission in Cyprus, and the Australian Securities and Investment Commission ASIC of Australia. All these are referred to as Tier-1 regulators.

Brokers who are registered with these regulators have a higher trust rating compared to those who are regulated by low-tier regulators. These low-tier regulators are regarded as high risk for traders.

For traders in South Africa, it is important to choose a broker that is registered with the FSCA. Most brokerage firms make their profits through these charges. Some brokers do charge a commission on deposits and withdrawals. A trader wishing to register with any broker should make proper enquiries on their charges and commission.

Some brokers do charge trading commissions for opening and closing trading positions on some account types and exempt charges on other account types. Potential traders should know all these before registering on the trading app.

Markets Bonus. With almost 10 million readers per year, the Fxstreet site is a crucial source of information for Forex investors around the world. We also reveal our recommended forex trading app! Avatrade 3. Toronto Stock Exchange.

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