Best Stock Brokers in South Africa: Top 10 (2025)

Over the past decade, South Africa has witnessed a significant surge in online trading, driven by increased internet accessibility and a growing interest in financial markets. Unlike traditional banks, which primarily focus on savings and loans, online brokers offer direct access to a variety of financial instruments, enabling traders to manage their investments independently.

As of 2025, numerous brokers are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

Our team of experts has meticulously analyzed all of them to provide you with a comprehensive and unbiased comparison.​

Broker Definition: What is a Broker or Stockbroker?

A broker, also known as a stockbroker, is a financial intermediary that facilitates the buying and selling of assets such as stocks, forex, and commodities on behalf of traders and investors. Unlike traditional banks, brokers provide direct access to financial markets through online trading platforms, allowing traders to execute trades independently or with the help of automated tools.

Types of Brokers in South Africa

There are different types of brokers available in South Africa, each catering to specific trading needs and investor profiles.

Best Online Brokers: How to Choose the Right One?

Choosing the best online broker depends on several factors, including the market you want to trade, your trading experience, and the tools and platforms you prefer. Some brokers specialize in specific asset types, while others cater to beginners or professional traders with tailored services. Below, we review the best brokers based on the type of assets they offer and the trader’s level of experience.

Best Broker Based on the Type of Assets Traded

Each asset class requires different features from a broker. Forex traders prioritize tight spreads and leverage, while stock investors need access to global exchanges and low commissions. Here’s what to consider when choosing a broker based on the type of asset you want to trade.

Best Forex Brokers

Forex trading is one of the most popular markets in South Africa, offering high liquidity and 24-hour access.

Key factors to consider when choosing a Forex broker:

• Tight spreads and low commissions – Minimize trading costs for frequent transactions.
• Leverage options – Ensure the broker offers competitive leverage while complying with FSCA regulations.
• Fast execution speeds – Delays in execution can lead to price slippage, affecting profits.
• Trading platforms – Support for MetaTrader 4/5 or cTrader is essential for Forex traders.

Best CFD Brokers

Contracts for Difference (CFDs) allow traders to speculate on the price movements of various assets without owning them.

Important criteria for choosing a CFD broker:

• Diverse asset offerings – Access to stocks, indices, commodities, and cryptocurrencies.
• Leverage availability – CFDs often use leverage, so ensure responsible risk management tools are available.
• Risk management tools – Features like stop-loss and take-profit orders help mitigate risks.
• Regulation and security – The broker should be regulated by the FSCA to ensure compliance.

Best ETF Brokers

Exchange-Traded Funds (ETFs) are great for long-term investors looking for diversification at a lower cost.

Factors to consider for ETF trading:

• Commission structure – Look for low-cost trading options to maximize returns.
• Access to global exchanges – Availability of ETFs from the JSE, NYSE, and other major markets.
• Fractional investing – Some brokers allow investing in ETFs with smaller amounts.
• Dividend reinvestment options – Check if the broker offers automatic reinvestment for ETF dividends.

Best Stock Brokers

Stock trading involves buying and selling company shares for capital gains or dividends.

What to look for in a stock broker:

• Direct market access (DMA) – Ensures real-time execution and transparent pricing.
• Low commission fees – Some brokers offer zero-commission stock trading.
• Research and analysis tools – Access to company reports, earnings updates, and technical indicators.
• Dividend payments – Ensure the broker facilitates dividend payouts and tax reporting.

Best Online Broker Based on Trading Experience

Your experience level significantly impacts which broker will be best for you. Beginners need educational support and simple interfaces, while experienced traders require advanced tools and lower trading costs.

Best Broker for Beginners

If you’re new to trading, choosing a broker with a user-friendly platform and strong educational resources is crucial.

Key features to look for:

• Simple and intuitive interface – Easy-to-navigate platforms with clear order execution.
• Educational resources – Free webinars, trading tutorials, and beginner-friendly guides.
• Low minimum deposit – Allows new traders to start with a small investment.
• Demo accounts – Practice trading with virtual funds before using real money.
• Customer support – 24/7 assistance, preferably with local South African support.

Best Broker for Experienced Traders

Professional traders need a broker that offers tight spreads, fast execution, and advanced trading tools.

Essential features for advanced traders:

• Access to multiple markets – Forex, stocks, commodities, indices, and cryptocurrencies.
• Low trading fees – Tight spreads and low commissions to maximize profit margins.
• Advanced trading tools – Automated trading, algorithmic strategies, and API access.
• High execution speed – ECN/STP brokers with minimal latency.
• Risk management features – Custom stop-loss orders, negative balance protection.

Best Broker Based on Trading Platform

Choosing a broker also depends on the trading platform you prefer. Some traders favor MetaTrader 4 or 5 for their advanced tools, while others prefer TradingView for its superior charting capabilities.

Best Broker with MT4 or MT5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are among the most widely used trading platforms, offering powerful tools for Forex and CFD trading.

Key factors to consider when choosing a broker with MT4 or MT5:

• Broker compatibility – Ensure the broker provides full MT4 or MT5 integration.
• Advanced technical indicators – Access to charting tools, automated trading (Expert Advisors), and custom scripts.
• Fast execution and low latency – Ideal for Forex traders looking for minimal price slippage.
• Multi-asset trading – MT5 supports stocks and ETFs, while MT4 focuses more on Forex and CFDs.
• Customizable interface – Traders can personalize charts, layouts, and order management tools.

Best Broker with TradingView

TradingView is a favorite among traders who rely on advanced charting and social trading tools.

What to consider when selecting a broker with TradingView integration:

• Direct execution from TradingView – Some brokers allow order execution directly within TradingView.
• Advanced technical analysis tools – Access to hundreds of built-in indicators and customizable scripts.
• Community and trading signals – The ability to follow and interact with other traders.
• Multi-device compatibility – TradingView offers seamless functionality across desktop, tablet, and mobile.
• Real-time market data and alerts – Brokers should provide accurate price feeds with minimal delays.

Best Broker Based on Trading Strategy

Your trading strategy influences the type of broker you should choose. Scalpers require ultra-fast execution, swing traders need analytical tools, and day traders benefit from low trading costs.

Best Broker for Scalping

Scalping involves making numerous small trades to capture minor price movements. Speed and cost efficiency are critical.

Key features to look for in a broker for scalping:

• Ultra-fast execution speeds – ECN/STP brokers with minimal latency are ideal.
• Tight spreads – Lower spreads reduce trading costs, making scalping more profitable.
• Low commissions – Some brokers charge per trade instead of widening the spread.
• Direct Market Access (DMA) – Reduces broker intervention, ensuring transparent pricing.
• Stable and reliable platform – No delays or freezing during high market volatility.

Best Broker for Swing Trading

Swing trading involves holding positions for days or weeks, aiming to capitalize on medium-term price trends.

What to consider in a broker for swing trading:

• Low overnight swap fees – Some brokers offer swap-free accounts for long-term positions.
• Comprehensive technical and fundamental analysis tools – Charting capabilities and market research are essential.
• Wide range of tradable assets – Swing traders often diversify across Forex, stocks, and commodities.
• Flexible order types – Advanced stop-loss and take-profit functionalities.
• Access to economic news and reports – Helps in making informed trade decisions.

Best Broker for Day Trading

Day traders buy and sell assets within a single trading day, requiring quick execution and low fees.

Key factors when choosing a broker for day trading:

• Low spreads and commissions – Cost-effective trading is essential for frequent trades.
• High-speed trade execution – Avoid brokers with delays that could lead to price slippage.
• Dynamic leverage options – Flexible leverage allows risk management for different assets.
• Access to real-time market data – Essential for making quick trading decisions.
• A robust and fast platform – MT4, MT5, or proprietary platforms should be stable and responsive.

Selecting a broker tailored to your trading platform preference or strategy can enhance efficiency, reduce costs, and maximize profitability.

What Else Should You Consider When Choosing an Online Broker?

Selecting the best online broker isn’t just about asset availability and trading costs. Traders in South Africa should also consider key factors such as broker regulation, security, the range of tradable assets, and account types. These elements ensure that you trade in a safe, cost-effective, and legally compliant environment. Below, we explore these essential criteria in detail.

Broker Regulation: Why It Matters?

Choosing a regulated broker is crucial to ensuring fund security, fair trading conditions, and legal compliance. Regulated brokers adhere to strict financial standards, including segregated client funds, transparency, and investor protection policies.

Trusted Regulatory Bodies in South Africa and Internationally

• Financial Sector Conduct Authority (FSCA) – South Africa 🇿🇦The FSCA is the official regulator overseeing forex and CFD brokers in South Africa. A broker with an FSCA license ensures local legal compliance and fund protection.
• FCA (Financial Conduct Authority) – United Kingdom 🇬🇧One of the most stringent regulators, ensuring brokers operate with transparency and financial stability.
• CySEC (Cyprus Securities and Exchange Commission) – Cyprus 🇨🇾A key regulator for many European brokers, offering cross-border trading under MiFID II regulations.
• ASIC (Australian Securities and Investments Commission) – Australia 🇦🇺Maintains high financial standards, protecting traders from fraudulent brokers.
• CFTC/NFA (Commodity Futures Trading Commission/National Futures Association) – United States 🇺🇸Governs brokers dealing with US clients, imposing strict financial requirements.

To trade safely, South African traders should prioritize FSCA-regulated brokers, or at least brokers with reputable international licenses.

Tradable Assets Available with Brokers in South Africa

When selecting a broker, it’s essential to evaluate the variety of financial instruments available. A well-diversified portfolio can reduce risk and maximize profit potential.

A good broker should offer a wide selection of these assets, allowing South African traders to diversify and adjust strategies based on market conditions.

Types of Accounts Offered by Brokers

Brokers provide different account types tailored to traders' needs. Here are the most common options:

• Standard Account – Ideal for most traders, offering standard spreads and no extra fees.
• Professional Account – Designed for experienced traders, often with higher leverage and lower spreads, but requires a larger deposit.
• Demo Account – Allows beginners to practice trading with virtual funds before using real money.
• Islamic (Swap-Free) Account – Complies with Sharia law, offering no interest on overnight positions.
• VIP/Premium Account – Comes with exclusive benefits, such as personal account managers, priority withdrawals, and lower fees.
• Managed Account (PAMM/MAMM) – Enables traders to invest in portfolios managed by professionals, making it suitable for passive investors.

Selecting the right account type depends on trading experience, capital size, and investment goals.

Platform Features: What Should Traders Look For?

When choosing a broker, the trading platform’s features are crucial for executing trades efficiently and optimizing performance. Here are some essential features that South African traders should look for:

• Copy Trading – Allows traders to automatically replicate the trades of experienced investors.
• Risk Management Tools – Features like Stop-Loss, Take-Profit, and Negative Balance Protection help control risk.
• Trading Signals & Alerts – Provides real-time market notifications and trading recommendations based on technical/fundamental analysis.
• Automated Trading – Supports Expert Advisors (EAs) and algorithmic trading, particularly on platforms like MetaTrader 4/5.
• Multi-Asset Trading – Enables traders to invest in stocks, forex, CFDs, indices, and commodities from a single account.
• Advanced Charting Tools – Offers custom indicators, real-time data, and drawing tools for technical analysis.
• Mobile Trading App – Ensures flexibility and market access from smartphones and tablets.
• Economic Calendar & Market News – Keeps traders updated on global financial events that impact asset prices.
• Fast Order Execution – ECN/STP brokers provide low-latency execution, reducing slippage.
• Regulatory Compliance & Security – Ensures traders' funds and data are protected through secure encryption and FSCA regulations.

Choosing a broker with the right platform improves trade execution, enhances decision-making, and optimizes risk management.

Broker Fees, Spreads, and Commissions

Understanding the different costs associated with trading is essential when selecting a broker. Below is an overview of the typical fees traders should analyze before opening an account.

Explanation of Broker Fees with Examples

• Spread: If a broker offers a spread of 1 pip on the USD/ZAR pair, a trader buying 1 standard lot (100,000 units) at R18.50 and selling at R18.51 pays R100 in spread fees.
• Commission: An ECN broker might charge R100 per lot traded. A trader executing 5 trades daily would pay R500 in commission per day.
• Deposit & Withdrawal Fees: Some brokers charge R250 per withdrawal via bank transfer, while e-wallets may be free.
• Inactivity Fee: If a trader doesn’t place trades for 6 months, the broker may deduct R200 per month from the account balance.
• Swap Fees: Holding a 1-lot long position on USD/ZAR overnight could incur R30 in interest costs, depending on interest rate differentials.
• Leverage Fees: If a trader borrows R50,000 to trade with 5:1 leverage, and the broker charges 4% annually, the monthly financing cost is R167.

How to Start Trading with an Online Broker?

Starting your trading journey with an online broker is straightforward, but understanding the process is key to avoiding mistakes and maximizing efficiency. Below are the essential steps to get started.

1. Creating a Trading Account

Opening an account with an online broker is a simple process that only takes a few minutes.

Advantages of account creation:

• Quick registration – Most brokers allow you to sign up using just your email and phone number, with approval in less than 5 minutes.
• Easy KYC verification – Identity verification is fast; you typically need to upload a copy of your ID and proof of address, and approval takes 24–48 hours.

2. Depositing Funds

Once your account is verified, you need to deposit funds to start trading.

Advantages of broker deposit methods:

• Multiple deposit options – Bank transfer, debit/credit cards, e-wallets (PayPal, Skrill, Neteller), and sometimes cryptocurrencies.
• Instant deposits – Most brokers offer immediate fund processing, especially with credit cards and e-wallets.

3. Placing a Trade Order

After funding your account, you can place your first trade in a few simple steps:

• Choose the asset you want to trade (e.g., USD/ZAR forex pair).
• Decide the order type – Market order (instant execution) or limit order (set your preferred entry price).
• Enter the trade size – Define how many units or lots you want to buy/sell.
• Set risk management tools – Apply a Stop-Loss (to limit risk) and Take-Profit (to secure gains).
• Confirm the trade – Click "Buy" or "Sell," and the trade is executed.

4. Withdrawing Funds

Profits or unused funds can be withdrawn at any time, and the best brokers ensure smooth transactions.

Advantages of broker withdrawals:

• Simple withdrawal process – Requesting a withdrawal through the broker’s platform only takes a few clicks.
• Fast processing time – Most brokers process withdrawals within 24–48 hours, especially for e-wallets and bank transfers.

Example of a Trade with an Online Broker (USD/ZAR Pair)

Let’s say a South African trader wants to speculate on the USD/ZAR exchange rate.

• Market Analysis:The current USD/ZAR exchange rate is 18.50.The trader expects the ZAR to weaken, so they buy 1 standard lot (100,000 units) of USD/ZAR.
• The current USD/ZAR exchange rate is 18.50.
• The trader expects the ZAR to weaken, so they buy 1 standard lot (100,000 units) of USD/ZAR.
• Trade Execution:Buy Order Placed at 18.50.Take-Profit Set at 18.75 (if the price rises, the trader gains).Stop-Loss Set at 18.30 (limits potential loss).
• Buy Order Placed at 18.50.
• Take-Profit Set at 18.75 (if the price rises, the trader gains).
• Stop-Loss Set at 18.30 (limits potential loss).
• Market Movement & Profit Calculation:If the price rises to 18.75, the trader gains 25 pips (0.25 ZAR per USD).Profit: 100,000 x 0.25 = ZAR 25,000.
• If the price rises to 18.75, the trader gains 25 pips (0.25 ZAR per USD).
• Profit: 100,000 x 0.25 = ZAR 25,000.

How Do Online Brokers Make Money?

Online brokers generate revenue through multiple sources, including:

• Trading Commissions – Some brokers charge a fixed fee or a percentage per trade executed by their clients.
• Spreads – The difference between the buying and selling price of an asset. Brokers add a markup to the spread, earning a profit on every transaction.
• Deposit and Withdrawal Fees – Fees may apply when depositing or withdrawing funds, depending on the payment method used.
• Inactivity Fees – Charged to accounts that remain inactive for a specific period.
• Currency Conversion Fees – Applied when trading in different currencies, covering the cost of currency exchange.
• Premium Services – Some brokers offer additional services such as advanced training, exclusive trading tools, or premium account benefits, often available through paid subscriptions.

What Is the Taxation on Trading Income in South Africa?

In South Africa, profits from trading are subject to income tax. Trading gains are classified as ordinary income and taxed according to the applicable income tax brackets, with a maximum individual tax rate of 45%.

For companies, corporate tax is set at 27%.

Traders must declare all profits to the South African Revenue Service (SARS) and comply with local tax regulations to avoid penalties. Keeping proper records of all trading activities is essential for accurate tax reporting.

All our guides on the best brokers in South Africa

Our guides

• My Trade Republic Platform Review (April 2025)
• My review of the Swissquote platform (April 2025)
• My AvaTrade Platform Review (April 2025)
• My review of the XTB broker (April 2025)
• My review of the eToro platform (April 2025)
• Best ETF Brokers in 2025
• HelloSafe compares stock brokers in South Africa
• What are the Best CFD Brokers in South Africa?
• My Eightcap Review (April 2025)

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.