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The Ultimate Guide to

Choosing a Broker
For South Africa

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:


Part 1

Why Choose
For South Africa?

scored best in our review of the top brokers for south africa, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages

offers one way to trade. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being segregating client funds, being established for over

Trust Score comparison

Trust Score
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We’ve compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you’ll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn’t available in the following countries: . They do not offer islamic accounts .

Part 3

A Comparison of vs. vs.

Want to see how stacks up against and ? We’ve compared their spreads, features, and key information below.

Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Base currency options
Funding options
Micro account
ECN account

Part 4


AvaTrade are a well-known online broker, offering trading services in more than 150 countries across the globe. They are a regulated and licensed company, operating in South Africa under the name ‘Ava Capital Markets Pty Ltd’ and authorised by the South African regulatory body, the Financial Services Board (FSB). Founded in 2006, the company have grown significantly over the years and have over 200,000 registered customers. Their South Africa branch is located in Johannesburg and is one of 11 offices worldwide.

The AvaTrade platform and website are available in more than 23 languages. The company’s website provides educational resources for traders including video tutorials, books, webinars, and several other resources. The company recently launched Sharp Trader, a premium website offering extensive educational material for AvaTrade customers. A demo account is also offered by the company allowing clients to take their service for a test drive before opening a real account.

AvaTrade’s platform enables access to over 200 financial instruments in a variety of markets. Clients can trade in Forex, stocks, cryptocurrency, treasuries, indices, and numerous other markets. Through the AvaTrade platform, clients can trade in some of the most popular indices such as S&P 500, NASDAQ 100, and FTSE 100.

AvaTrade accepts a variety of payment methods including PayPal/Skrill, Credit/Debit card (min $100) and direct bank transfer (min $500), and clients from South Africa can choose to trade with USD, EUR or GBP as their base currency.


IG are pioneers in online trading with more than 40 years of experience in the industry. They are a licensed company, authorised to operate in South Africa by the Financial Services Board (FSB).

IG’s platform gives clients access to over 15,000 markets worldwide, allowing them to trade in commodities, shares, indices, Forex, and many other markets. Many of the markets that are currently trending in South Africa are available on the IG platform, such as South Africa 40, Wall Street, EUR/ZAR, and Spot Gold.

IG offer professional and friendly support to their customers, as well as offering free, in-person educational seminars for novice traders. Clients can also find data, analysis, and commentary on all of the major platforms offered by IG, and on their website. A free demo account is also available from IG for clients to assess the platform and their trading skills before opening a real account.


Plus500 is one of the leading online brokers in South Africa with a solid reputation. They are a globally recognised company with a current customer base of more than 155,000. Plus500AU Pty Ltd, a subsidiary of the Plus500 platform, operates in South Africa as an Authorised Financial Services Provider.

Clients can trade shares, stocks, cryptocurrencies, Forex, and indices with access to over 2000 financial instruments. Some of the most popular markets in South Africa are available on the company’s platform including the USD/ZAR, gold and oil.

The company’s website and trading platform are available in 32 different languages. Responsive online support is offered to customers along with free, real-time quotes.

A free, unlimited demo account is also available for those wanting to test their skills before going live. A variety of payment methods are accepted by the company including direct bank deposit, Visa/Master cards, and PayPal/Skrill; and the base currency of the trading platform can be selected as the South African rand.

Plus500 is a major partner of the “Plus500 Brumbies”, the 2016 Super Rugby Australian Conference Champions.

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Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.