The Trading Bible Brokers ᑕ❶ᑐ Best Online Trading Platforms in South Africa in 2024

The Best Trading Platforms & Apps in South Africa in 2024

By Stelian Olar, Updated on: Apr 29 2025.

If you are searching for the best trading platform South Africa has to offer and mobile apps in South Africa in 2024, you have come to the right place. With the growth in online and mobile trading globally, South Africa has also seen an influx of trading platforms and apps that provide access to forex, stock trading, indices, commodities and more. Choosing the best forex trading app in South Africa is crucial, as you want one that is reputable, regulated, and provides the features and tools you need to trade successfully. 

In this article, we provide a ranking of the top 10 trading platforms in South Africa and mobile apps available in 2024, selected based on factors such as:

• regulation,
• trading fees and commissions,
• platform functionality and ease of use,
• educational resources,
• trading tools,
• currency pairs and financial instruments offered,
• and more.

Trading on these online trading platforms South Africa traders can take advantage of the growth opportunities available on the Johannesburg Stock Exchange (JSE) as well as global markets. With over USD 1 trillion market capitalization, the JSE provides exposure to the stock market, derivatives, and commodities trading.

Make sure to consider the regulation, fees, platforms features, and tradable assets before selecting a trading platform or app for your needs. Our list covers top forex brokers, stock brokers, CFD brokers, and multi-asset brokers popular among South African traders. Whether looking to trade currencies, stocks, indices, or commodities using your computer or mobile apps, you will find the best options right here.

Top 10 Trading Platforms in South Africa

A list of the top 10 trading platforms in South Africa for 2024, whether you are looking for the best stock brokers in south Africa, the cheapest online trading platform South Africa – based or leading forex brokers our list covers the top-rated options:

1. FP Markets – It's considered one of the best online broker South Africa offers based on tight spreads, low commission rates, platform choice, and account funding options.
2. Pepperstone – Renowned for its tight spreads and competitive fees, Pepperstone appeals to active traders seeking a cost-effective platform.
3. Capital.com – This platform offers a user-friendly interface, commission-free trading, and AI-powered features, making it a good option for beginners and those interested in innovative tools.
4. Deriv – This platform offers a variety of trading options, including binary options, forex, and synthetic indices, and caters to experienced traders comfortable with a higher risk profile.
5. Interactive Brokers – Renowned for its extensive features, low fees, and advanced research tools, Interactive Brokers caters to experienced traders seeking a powerful trading platform. It's also considered one of the best stock brokers in South Africa.
6. Saxo Bank – Offering a sophisticated platform with in-depth research and educational resources, Saxo Bank is ideal for active traders who value a comprehensive trading experience.
7. Plus500 – This user-friendly platform caters well to beginners with its clear interface, focus on CFDs (Contracts for Difference), and educational resources. While not the cheapest option, it's still considered a good choice for those starting out.
8. XTB – This platform shines with its commission-free stock and ETF trades, user-friendly interface, and educational materials
9. IG Markets – Known for its first-rate web platform and best trading app South Africa, IG Markets offers a wide range of instruments and a strong focus on research and education, making it suitable for traders of various levels.
10. Admiral Markets – This platform stands out for its advanced charting tools and access to the popular MetaTrader 4 and 5 platforms. 

Comparison chart of the best trading platform South Africa offers:

FP Markets

FP Markets has established itself as a contender among the best online brokers in South Africa, known for its competitive fees, advanced platform capabilities, and extensive market coverage.

Pros

• Regulated in multiple jurisdictions including South Africa
• Ultra-tight spreads from 0 pips on forex and 0.1% on indices
• Choice of MT4, MT5 and Iress trading platforms
• Excellent customer services and support
• Educational resources for beginners

Cons

• Iress trading platform has a steep learning curve

Best For: Traders seeking tight spreads and MT4/MT5 platform access

Assets: Forex, indices, commodities, global shares, and cryptocurrencies

Account Types: Demo, Standard, Raw, ECN accounts

FP Markets provides access to MetaTrader 4, MetaTrader 5, and Iress, three powerful best trading platform South Africa options. Tight spreads, fast execution, and top-notch support make them a great choice.

FP Markets boasts some of the tightest spreads in the industry, especially for forex trading (like EUR/USD), making it a cost-effective option for active traders making it the cheapest online trading platform South Africa offers.

Overall, FP Markets offers competitive pricing, platform choice, liquidity, and support for South African traders.

Pepperstone

Pepperstone is one of the top trading platforms South Africa offering forex and CFD trading. Founded in 2010, they are an Australian broker that is regulated in multiple jurisdictions holding licenses with reputable authorities like FCA (UK) and ASIC (Australia), offering security for South African traders.

Pros

• Tight spreads from 0.0 pips on forex pairs like EUR USD
• Fast trade execution speeds and fund withdrawals
• Multiple top trading platforms including MT4, MT5 and cTrader
• Award-winning customer support

Cons

• Cannot fund trading accounts with crypto

Best For: Forex and CFD traders looking for low fees and fast execution

Assets: 90+ forex pairs, indices, currency indices, commodities, shares, ETFs, CFD forwards and cryptocurrency CFDs

Account Types: Standard, Razor, Swap Free Islamic Accounts

Pepperstone offers MT4, MT5, cTrader, TradingView and their proprietary forex trading platforms designed for beginners and advanced traders. Pepperstone is one of the few brokers that offer no minimum deposit policy to open a trading account and provide leverage up to 1:500 across 1,200 CFDs.

It provides technical analysis tools and fast execution with excellent liquidity and ultra-low spreads, even during volatility.

Overall, Pepperstone is a leading forex and CFD broker suitable for active day traders thanks to their competitive pricing and fast execution speeds.

Capital.com

Capital.com is a rising online trading platform gaining traction in South Africa, particularly among those interested in long term investing through a user-friendly mobile app. If you want to choose a forex broker with an award-winning technology, Capital.com offers all the trading tools for South African traders.

Pros

• Regulated by top-tier authorities
• User-friendly web and trading Apps south Africa
• Free demo account with $10,000
• Excellent educational resources for beginners
• Competitive pricing and spreads from 0.6 pips

Cons

• Limited advanced trading tools compared to some platforms
• Only CFD trading - no direct equities
• Limited cryptocurrency markets

Best For: Beginner CFD traders looking for easy-to-use platform

Assets: 3,000+ CFD markets including forex, commodities, indices, shares

Account Types: Demo, Standard

Capital.com offers an intuitive web trading platform and easy-to-use mobile apps designed for new CFD traders along with the standard MetaTrader 4 trading platform and TradingView. While experienced traders may want more advanced features, Capital.com provides an excellent platform for long term investors and those new to CFDs.

Overall, Capital.com delivers an accessible trading experience for beginners via an easy-to-use platform with extensive learning resources.

Deriv

Deriv is an online trading platform gaining recognition in South Africa, offering a diverse range of tradable instruments and a user-friendly platform accessible through web browsers and mobile apps, making it potentially easier to navigate for beginners compared to some complex platforms.

Pros

• Regulated in several jurisdictions
• User-friendly web and mobile trading platforms plus multiple trading Apps
• Free demo account with $10,000 virtual funds
• Educational resources and trading academy
• No commissions on trades

Cons

• Limited tradable assets compared to some
• Higher spreads than some competitors
• Limited advanced trading tools and charting

Best For: Beginner traders interested in binary options and CFDs

Assets: 50+ markets including forex, commodities, synthetic indices, crypto

Account Types: Demo, Real

Deriv goes beyond a single platform, offering DTrader, DTrader 2, SmartTrader, and BinaryBot. This variety allows users to choose the interface that best suits their needs and experience level.

• Deriv MT5: MetaTrader 5 trading platform.
• Deriv X: A multi-asset trading platform with feature-rich charts and functionalities
• Deriv cTrader: cTrader trading platform that features Level 2 data
• SmartTrader: Options trading platform
• Deriv Trader: A mobile app ideal for on-the-go trading.
• Deriv Go: Trading Apps for trading multipliers on the go.
• BinaryBot: A platform for automated trading strategies.

Overall, Deriv delivers multiple user-friendly trading platforms focused on binary options and CFD trading with a diverse selection of instruments, making it a potential option for South African traders starting their online trading journey.

Interactive Brokers

Interactive Brokers (IBKR) is a globally recognized online broker, often considered one of the best online share trading platform South Africa traders have. Known for its extensive product offerings, powerful platform, and advanced tools, IBKR caters primarily to active and experienced traders seeking a comprehensive stock trading South Africa experience.

Pros

• Very low fees and commissions on stock trading South Africa and options
• Advanced desktop, web and mobile trading platforms
• Access to over 125 market centers in 31 countries
• Sophisticated trading tools, analysis and research
• Excellent pricing and execution quality

Cons

• Higher minimum deposit than some brokers
• Platforms may seem complex for beginners

Best For: Active traders and investors seeking low-cost online share trading platforms South Africa

Assets: Stocks, options, futures, forex, bonds, mutual funds

Account Types: Individual, joint, retirement, trusts, IRA accounts

Interactive Brokers offers a highly sophisticated order management system with advanced trading tools and analytics. They provide traders excellent pricing across a massive range of tradeable assets.

Overall, Interactive Brokers delivers a powerful trading platform and quality executions at very low cost for stock trading.

Saxo Bank

Saxo Bank is one of the leading multi-asset brokers in South Africa offering access to 71,000+ financial instruments.

Pros

• Heavily regulated broker with global operations
• Advanced proprietary trading platforms SaxoTraderGO and SaxoTraderPRO
• Extensive trading tools, analysis, and market research
• Access to forex, stocks, options, futures, bonds, ETFs

Cons

• High minimum deposit of $10,000
• Platform can be complex for beginners
• High fees on some instruments like options

Best For: Sophisticated traders and investors

Assets: 71,000+ markets including forex, CFDs, stocks, futures, listed options, bonds, ETFs

Account Types: Standard, premium, VIP accounts

Saxo Bank provides professional-grade trading platforms, tools, and market access suitable for experienced traders. If you have sufficient capital and seek advanced trading features across a huge range of global markets, Saxo Bank delivers. However, high minimum deposits and complex platforms may deter beginners.

Overall, Saxo Bank is a top choice for sophisticated traders in South Africa seeking an institutional-grade trading experience.

Plus500

Plus500 is one of the leading online trading South Africa platforms offering CFD trading on 2000+ instruments. They are regulated across multiple jurisdictions.

Pros

• $100 minimum deposit to open an account
• User-friendly web and mobile CFD trading platforms
• Free unlimited demo accounts to practice
• No commissions on trades

Cons

• Limited educational resources compared to some competitors
• No cryptocurrency trading
• Mobile app lacks some features of web platform

Best For: Beginner CFD traders looking for easy-to-use platform

Assets: Forex, crypto, indices, options, commodities CFDs

Account Types: Real and demo accounts

The Plus500 trading platform is designed to be intuitive providing real-time quotes, analysis tools, risk management features and quick execution making them a top choice for beginner traders.

Overall, Plus500 provides an easy way to trade top markets through a web-based trading platforms and no commissions.

XTB

XTB is an online broker offering trading in thousands of markets including forex, indices, commodities, stocks, ETFs, and cryptocurrencies.

Pros

• Regulated by top-tier authorities like FCA and CySEC
• User-friendly xStation trading platform and MT4 available
• Excellent educational resources for beginner traders
• Good customer support during weekdays

Cons

• Limited trading platforms compared to some brokers
• Fees for other instruments like stock CFDs can be higher.
• Deposit and withdrawal fees for amounts lower than $100

Best For: Beginner traders looking for education and easy-to-use platform

Assets: 5,600+ markets including forex, indices, shares, commodities, crypto

Account Types: Standard, Pro, Demo accounts

XTB offers an award-winning proprietary platform xStation, plus access to the popular MT4 and trading accounts can be opened with a $250 minimum deposit. They provide free educational resources, market research tools, risk management features, and excellent 24/5 customer service.

Overall, XTB is regulated across Europe and an excellent option for beginner traders to get started.

IG Markets

Founded in 1974, IG Markets is one of the most established online brokers in South Africa, offering trading across 17,000+ financial markets.

Pros

• Regulated by top-tier authorities like FCA, ASIC and CFTC
• Award-winning proprietary trading platform
• Advanced charting, analysis tools, and risk management
• Access to forex, CFDs, stocks, indices, commodities
• Educational resources for new traders

Cons

• Higher fees than some competitors
• Inactivity fees apply if no trades placed for 12+ months
• Limited customer support options

Best For: Active traders looking for advanced trading platforms

Assets: Thousands of markets including forex, shares, indices, commodities

Account Types: Demo, standard, premium accounts

IG Markets provides legit trading platforms in South Africa for trading CFDs, forex, stocks, indices, and commodities. Their web and mobile apps offer advanced tools for technical analysis and risk management. IG offers the popular MT4 platform alongside its own user-friendly platform, catering to different trading preferences.

IG provides powerful charting, proprietary indicators, automation tools, and educational resources which makes them a great choice for active traders.

Admiral Markets

Admiral Markets is a regulated online broker offering trading access across 4,500+ instruments from forex and CFDs to stocks and ETFs.

Pros

• Regulated by top-tier authorities like FCA and ASIC
• MetaTrader 4 and MetaTrader 5 platforms available
• Advanced features like automated trading (Expert Advisors) and social trading (CopyTrader)
• Educational resources for beginner traders

Cons

• Limited customer support options
• Customer support not available 24/7
• Web platform has less tools than MetaTrader

Best For: Active traders seeking MT4/MT5 platform access

Assets: 4,500+ markets including forex, indices, commodities, shares, bonds, ETFs

Account Types: Demo, standard, premium accounts

Admiral Markets offers access to the popular MetaTrader platforms for CFD and forex trading. They provide market analysis, risk management tools, educational resources and EAs for the MT4/MT5 platforms.

Overall, Admiral Markets gives traders access to thousands of instruments through the powerful MetaTrader platforms.

The Best Forex Trading Apps in South Africa

Mobile trading has become hugely popular in South Africa, with many investors and traders looking for the top trading apps in 2024. The leading trading apps South Africa allow you to analyze markets, execute trades, and manage positions while on the go.

When evaluating forex brokers, we focused on factors like mobile platform features, ease of use, tools, charting capabilities, and order execution. Based on extensive testing and research, here are the best forex trading app South Africa:

Choose Only Legit Trading Platforms in South Africa

When selecting an online trading platform or broker in South Africa, it is crucial to ensure they are properly licensed and comply with regulations. There are unfortunately "scam" brokers that target unsuspecting investors by making false claims and engaging in unethical practices.

Only open accounts and deposit funds with trusted, reputable brokers that are authorized to provide trading services in South Africa:

• Check they are licensed by the Financial Sector Conduct Authority (FSCA) which is the main regulatory body in South Africa. Better if the forex brokers have license from tier-1 jurisdictions like the UK, USA, Australia or Europe.
• The broker should clearly display licensing information on their website and trading platforms.
• Be wary of offshore brokers with no clear regulation or that are registered in exotic locations. These may operate scams.
• Research the broker's reputation online and look for any warnings from authorities.
• Avoid brokers that cold call with promises of unrealistic returns or pressure you to deposit funds.

By thoroughly researching each forex trading broker, traders can avoid scam platforms and ensure they use only regulated, legitimate providers. Our top recommended brokers have all been vetted and adhere to strict standards enforced by tier-1 regulatory bodies.

Choosing the right trading platform is a key success factor so invest the time to evaluate your options and select a trusted provider because this will enable you to trade securely with peace of mind.

Who Is the No 1 Broker in South Africa?

In our view, FP Markets stands out as the best online brokers in South Africa in 2024 for active forex and CFD traders needing tight spreads and platform choice. FP Markets provides access to MetaTrader 4, MetaTrader 5, and Iress, three powerful best trading platform South Africa traders can choose from.

FP Markets offers ultra-competitive pricing with forex spreads from 0 pips and indices spreads from just 0.1%. This pricing combined with fast execution gives traders the ideal environment to implement strategies across assets classes. They provide excellent trading conditions through ECN/STP execution.

Beyond pricing, we like FP Markets for their regulatory oversight, fund safety, range of tradable assets, and top-notch customer support. For these reasons, FP Markets earns our vote as the #1 forex and CFD broker available to South Africans in 2024.

Some other popular options include Pepperstone, Capital.com and Deriv – best trading platform South Africa traders can select.