Which are the best stockbrokers to use in South Africa?

Are you interested in trading shares on the world’s largest stock exchanges? You have the choice of an online retail broker or a traditional stockbroker. Which one you choose depends on your trading needs.

 

If you want a low-cost, no-commission option and are happy to trade on your own through a state-of-the-art trading platform; then a regulated online retail broker is right for you.

 

In this in-depth guide you’ll learn:

  • FSCA-regulated stockbrokers in South Africa
  • FSCA-regulated online brokers in South Africa

 

And lots more…

 

Let’s dive right in…

 

10 Best Forex Brokers in South Africa for 2022

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.7/5

User Score

#10

4.7/5

User Score

 

If you want more value-added services and a personal advisor giving you guidance on which shares to buy and when to sell and you are happy to pay a fee for the personalized service, then a regulated traditional stockbroker is right for you.

 

Our list of the best stockbrokers in South Africa includes licensed and regulated traditional brokers in South Africa and the leading FSCA-regulated online brokers that accept share traders in Africa.

 

FSCA-regulated stockbrokers in South Africa

Absa

Absa Stockbrokers and Portfolio Management (Pty) Ltd

👉 Absa Stockbrokers offers a personal, one-on-one stockbroking service and provides efficient order execution at very competitive trading and custodial fees. The brokerage is based in Sandton, Johannesburg.

 

👉 Absa Stockbrokers provides an online Smart Trading account to trade all local JSE-listed shares, warrants, share installments, and all Exchange Traded Funds (ETFs) and over 25 offshore exchanges. Absa Stockbrokers is a member of the JSE Ltd and is wholly owned by Absa Group Limited, a subsidiary of Barclays PLC. Absa Stockbrokers’ head office is in Sandton, Johannesburg.

 

AfriFocus Securities

 

AfriFocus Securities (Pty) Ltd

👉 AfriFocus Securities provides an onshore account to trade shares on the JSE and international markets from a single ZAR trading account, offering access to a range of financial assets, including shares, ETFs and CFDs on forex, indices, commodities and treasuries. AfriFocus Securities also offers an offshore account based on foreign currency.

 

👉 The financial services company has been an equities member on the JSE since 2000 and services institutional and private clients. AfriFocus Securities’ head office is in Sandton, Johannesburg.

 

EasyEquities

 

EasyEquities ǀ Purple Group Limited

👉 EasyEquities is a South African-based financial services company and an online trading platform that allows clients to buy shares in domestic and international companies for as little as R5 ($10) or whatever amount they have to invest. There are no monthly brokerage fees, no minimum deposit and the brokerage charges only 64 cents per R100 invested.

 

👉 EasyEquities is an ideal platform for beginner traders learning how to trade shares on stock exchanges. EasyEquities is a JSE-listed Purple Group Limited (PPE) subsidiary, and the head office is in Braamfontein, Johannesburg.

 

PSG Wealth

 

PSG Wealth

👉 PSG Wealth is a division of PSG Group, an investment holding company operating in the banking, financial services, education and food sectors. PSG Wealth offers personalized services for wealth management. It provides an online trading and investment platform to invest in various shares, other securities, risk-profiled multi-managed funds and unit trusts.

 

👉 The fund range includes PSG Wealth Solutions and PSG Multi-Managed Funds. PSG Group is based in Stellenbosch, and PSG Wealth has regional offices in all the major cities in South Africa.

 

Rand Swiss

 

Rand Swiss (Pty) Ltd

👉 Rand Swiss is a full-service broker that offers a full suite of enhanced value-added services at low-cost execution and one-on-one guidance. Rand Swiss provides access to a dedicated private broker, personalised portfolio support and an easy-to-use online trading platform to trade local and international shares and securities.

 

👉 Rand Swiss has received many prestigious awards, including the Intellidex and Investor’s Monthly Top Online Stockbroker and Top Tax-Free Savings Provider in 2020. Rand Swiss’ head office is in Sandton, Johannesburg.

 

Sanlam Private Wealth

Sanlam Private Wealth (Pty) Ltd

👉 Sanlam Private Wealth is a division of the Sanlam Group, one of the largest financial services groups in South Africa. Sanlam Private Wealth provides personalized service to high-net-worth investors and offers customized investment solutions to grow and preserve their wealth.

 

👉 Sanlam Private Wealth offers a comprehensive range of specialised services, including equity-backed finance, wealth management, trading and stockbroking, and a fiduciary and tax service. Sanlam Private Wealth’s head office is in Sandton, Johannesburg.

 

Sharenet Securities

Sharenet Securities

👉 Sharenet Securities is the share-trading division of the Sharenet Group. The financial services company provides real-time JSE share prices to traders and investors on a subscription basis and a proprietary trading platform for institutional and private investors to trade international equities on the global stock exchanges. Sharenet Securities also manages Personal Share Portfolios (PSPs) and offers institutional and private investors expert guidance.

 

👉 Sharenet offers CFDs built on IG’s award-winning platform and provides access to an extensive range of financial instruments at competitive fees. Sharenet is the recipient of the SA Top-5 Broker award and SA Top-3 CFDs Provider Award from Intellidex. Sharenet Securities’ head office is based in Rivonia, Johannesburg.

 

Standard OST

 

Standard OST/Stockbrokers

👉 Standard Online Share Trading is a division of Standard Bank Group and the most significant traditional stockbroker in South Africa. Standard OST provides access to the global financial markets on the WebTrader trading platform to trade a wide range of listed JSE Limited assets, including Forex, CFDs, equities, single stock futures, warrants and the full range of Safex products.

 

👉 Standard OST also offers access to a full range of offshore instruments on foreign currency-based accounts. Standard OST’s head office is in Sandton, Johannesburg.

 

Unum Capital

 

Unum Capital (Pty) Ltd

👉 Unum Capital is a regulated financial services company that provides a multi-platform trading service. Unum Capital has a team of multi-asset, multi-market, wealth management and stock market experts who manage local and offshore Personal Share Portfolios (PSPs) comprising shares, commodities, listed properties and bonds.

 

👉 Clients trade online via the MetaTrader 4 (MT4) and xStation5 trading platforms. Unum Capital also support IRESS and ProTrader 3 (PT3). Unum Capital’s head office is in Irene, Pretoria and the company has a regional office in Durban.

 

FSCA-regulated online brokers in South Africa

 

AvaTrade

 

Overall Rating

4.8/5

Rated #1 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, FSA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 AvaTrade is an FSCA-regulated forex and CFDs broker that accepts traders in South Africa. The brokerage offers access to various financial instruments on different trading platforms, including MT4, MT5 and AvaTrade’s proprietary web-based platforms for social trading.

 

👉 AvaTrade was founded in 2006 and is a leading online broker for retail and institutional traders. AvaTrade is licensed and regulated across all six continents, including the CBI, BVI FSC, ASIC, FSCA, FSA and ADGM. AvaTrade’s head office is based in Dublin, Ireland.

 

Blackstone Futures

 

Overall Rating

4.6/5

Rated #4 of
Recommended FX Brokers

💰Minimum Deposit

1000 ZAR

🌐 Regulators

FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

32

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 Blackstone Futures is a South African-based, multi-asset forex and CFDs broker that was founded in 2009. Clients can trade Forex and CFDs on commodities, cryptocurrencies, equities, energies, precious metals, futures and indices through the MetaTrader 4 trading platform and a proprietary trading platform called CloudTrade. Blackstone Futures is an STP broker for retail traders and offers ZAR and USD trading accounts.

 

👉 Blackstone Futures is a duly appointed juristic representative of Trade National Financial (Pty) Limited. Trade National Financial is a trading name of Finsa Europe Ltd, a global financial services company licensed and regulated by the FSCA in South Africa, FCA in the United Kingdom, ASIC in Australia, and SCB in the Bahamas.

 

Exness

 

Overall Rating

4.9/5

Rated #2 of 
Recommended FX Brokers

💰Minimum Deposit

USD 10.00

🌐 Regulators

FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC (Mauritius)

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

107

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 Exness is an FSCA-regulated global forex and CFDs broker that accepts traders in South Africa. Exness was founded in 2008 and is licensed and regulated in the United Kingdom, Cyprus, South Africa and Seychelles. Exness operates under Nymstar Limited; a securities dealer authorised and regulated by the Seychelles Financial Services Authority (FSA).

 

👉 Exness is a Market Maker and NDD forex broker and provides access to a wide range of asset classes on the MT4 and MT5 trading platforms and the Exness Web Terminal, with the choice of 5 different trading accounts.

 

JustForex

 

Overall Rating

4.4/5

Rated #72 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 JustForex is a global forex and CFDs broker that accepts traders in South Africa. The brokerage was founded in 2012 and is the trading arm of JF Global Limited, a licensed and registered company in St Vincent and the Grenadines. JustForex offers multiple trading accounts and supports the MT4 and MT5 trading platform to access to currency pairs (80+), cryptocurrencies and CFDs on precious metals, energies, shares, stock indexes and bond indexes. Just Forex’s head office is based in Kingstown, Saint Vincent and the Grenadines.

 

FxPro

 

Overall Rating

4.7/5

Rated #202 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 FxPro is an FSCA-regulated global forex and CFDs broker that accepts traders in South Africa. The brokerage offers access to a wide range of asset classes on the MT4, MT5 and cTrader trading platforms and an award-winning proprietary trading platform. Clients can trade Forex and CFDs on shares, indices, futures, precious metals and energies.

 

👉 FxPro is a No Dealer Desk (NDD) broker, so order execution is fast and there is no conflict of interest on open orders. FxPro is licensed and regulated in the United Kingdom, Cyprus and South Africa. FxPro’s head office is in London, United Kingdom.

 

FXTM

 

Overall Rating

4.6/5

Rated #32 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

CySec, FSCA 

📱 Trading Desk

MetaTrader4, Metatrader 5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 FXTM – or ForexTime – is an FSCA-regulated global forex and CFDs broker that accepts South African traders. FXTM provides access to a wide range of asset classes on the MT4 trading platform and its proprietary FXTM Trader App. The brokerage was founded in 2011 and is licensed and regulated in the United Kingdom, Cyprus, Seychelles, and South Africa.

 

👉 FXTM offers rapid order execution with tight CFDs spreads and leverage up to 2 000:1. FXTM clients can access manual, automated, social and copy trading features. FXTM’s head office is in Limassol, Cyprus.

 

HotForex

 

Overall Rating

4.8/5

Rated #6 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FSC, FSCA

📱 Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

📈 Total Pairs

50+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 HotForex is an FSCA-regulated global forex and CFDs broker that accepts traders in South Africa. The brokerage was founded in 2010 and operates under the HF Markets Groups. HotForex offers access to a wide range of asset classes on the MT4 and MT5 trading platforms with six core trading accounts.

 

👉 HotForex has a team of in-house analysts who regularly publish Market News, analysis and outlook reports, and a wide range of research and educational material. The HotForex trading platforms support trading tools such as AutoChartist, a Trading Calculator, Economic Calendar, and the Traders’ Board.

 

Tickmill

Overall Rating

4.7/5

Rated #3 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

62

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

👉 Tickmill is an FSCA-regulated global forex and CFDs broker that accepts traders in South Africa. The brokerage was founded in 2014 and offers access to a wide range of asset classes on the MT4 trading platform. Top-tier authorities regulate Tickmill in the United Kingdom, Cyprus, Seychelles and South Africa.

 

👉 Tickmill is a No Dealer Desk (NDD) broker and makes money through spreads and swaps on certain tradeable classes and commissions on certain trading accounts. The brokerage publishes a wide range of research and educational material, including video tutorials, eBooks and news articles. It also hosts regular webinars and seminars for forex training for beginner and advanced traders. Tickmill’s head office is in London, United Kingdom.

 

FOREX TRADING AFRICA DISCLAIMER

Forex and CFDs are complex instruments and involve a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

 

Forex Trading Africa annually reviews brokers and financial assets and provides information to help online retail traders better understand the global financial markets. The information provided is meant to grow your knowledge and expertise in financial trading and must not be construed as personal advice.

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