What is Trading App?
A stock trading application is an online system that allows users to easily sell, purchase and manage stocks on a trading platform.
What Is The Best Trading App In South Africa?
Exness – Best FSCA Regulated Forex App
Exness Group is a broker established in 2008, with its headquarters in Cyprus. This platform boasts over 145,000 traders and is an FSCA-regulated financial service provider.
Exness offers some of the lowest spreads, with a minimum of 0.1 pips across standard accounts. It is ideal for beginner traders as it allows minimum deposits of $1. Exness offers ZAR currency support, and local traders can make account deposits or withdrawals using most South African banks.
Its mobile app is available for both Android and iOS users. The trading platforms on the app include MT4 and MT5 for Android and iOS. The Exness Trader app for mobile devices is known for its high transaction execution speed, stability, and reliability.
RoboForex – Best Copy Trading App With Bonuses
RoboForex is known for its competitive trading costs and access to advanced features, thanks to its regulations by CySec and IFSC. Their low spreads (starting at 0 pips) and commissions (from $10 per $1 million trade volume) make it a great choice for traders looking to benefit from the highly volatile Forex markets.
The MetaTrader 4 and 5 platforms provided by RoboForex also guarantee fast order execution, allowing users to capitalize on swift market movements in a timely manner.
IC Markets – Best for Advanced Traders
IC Markets has been in operation since 2007. The broker is based in Australia, with various branches scattered across different countries. IC markets’ platform is known for fast order execution. With an average order execution speed below 40ms, it is one of the best brokers in the industry.
IC Markets offers competitive spreads as low as 0.0 pips on all its platforms. Accounts available on the IC markets’ platform include the Standard and Raw Spread accounts.
Professional traders can take advantage of the Raw Spread account as it offers very low spreads and commissions as low as $3.5. The account best serves day traders, scalpers, and those who use bots.
Multibank – Best Set of Tools for Beginners
MultiBank is a top-tier international CFD and Forex broker regulated by several financial authorities, such as the ASIC of Australia. They provide low fees for forex trading and stock index CFDs, in addition to being completely fee-free when it comes to deposit and withdrawal.
To make life easier for beginners, MultiBank has also made sure that MetaTrader 4 and MetaTrader 5 are available on their mobile app, which is compatible with both iOS and Android phones.
Using the MetaTrader4 and 5 platforms, you can easily navigate through charts and make informed decisions that suit your own trading needs. And with daily newsletters packed with technical expertise and market news insights, there are plenty of resources for traders at any level.
XM
XM is a Forex and CFD broker established in 2009. The company caters to over five million customers in over 190 countries. Opening an account with XM is relatively easy and fast, and new traders receive a $30 trading bonus on signing up.
The FSCA authorizes XM so that South African traders can feel safe. The mobile app is well-built and easy to use. Beginner traders will have minor problems navigating the app. But, as a word of caution, XM focuses primarily on CFDs. Since trading such assets comes with a high risk, beginners should obtain expert advice before investing in CFDs.
Using it, you can trade on demo or live accounts. Also, the app supports MT4, MT5, and XM WebTrader, and you can trade in multiple instruments. One exciting feature of the app is that it provides real-time interactive market charts, tips, and technical analysis tools.
FBS – Best Forex Bonus
FBS has been on the financial markets scene since 2009. Tradestone Ltd’s brainchild is regulated in Cyprus, Belize, and South Africa. FBS stands out among other brokers as it uses a non-dealing desk (NDD) / (straight-through processing) STP hybrid technology which favors fast order execution. It supports both MT4 and MT5.
The FBS trader app is available on Android and iOS devices. Other features include one-click fast trading, real-time charts, and technical analysis. Users can trade crypto using the app as it offers up to 35 pairs. Not only that, they can copy the trading strategies of other traders.
AvaTrade – Best for beginners
AvaTrade is FSCA regulated and accepts clients from South Africa. The platform supports MT4, MT5, and AvaOptions. Also, AvaTrade provides traders with a wealth of trading tools like Trading Central and AvaProtect. Avatrade offers an excellent option for copy-trading- Duplitrade.
Duplitrade allows users to automate their trading and duplicate the strategies of expert traders to earn more profits.
Moreso, no fees are charged on deposits or withdrawals. If you seek the best trading platform in South Africa, AvaTrade is one of them in terms of educational materials because it offers an extensive collection of training materials.
Interactive Brokers – Best for International Stock Trading
Interactive Brokers (IBKR), established in 1993, is one of the best international brokers today. Professional traders prefer using this platform because of its large set of tools and an extensive range of tradable assets, including stocks, futures, options, and bonds in 135 markets. IBKR operates in 33 countries and accepts clients from over 220 nations (including South Africa).
IBKR employs a proprietary ‘SmartRouting’ technology that gives it an edge over other brokers. This software scans the market for the best stocks and prices when a trader places an execution order, ensuring a net price improvement.
Who is the richest forex trader in South Africa?
In conclusion, Jabulani Ngcobo is the richest forex trader in South Africa, and his success in forex trading can be attributed to his determination, hard work, and understanding of the market.
What is the cheapest trading platform in South Africa?
Intro and winners
- Interactive Brokers is the best discount broker in South Africa in 2023.
- Alpaca Trading – Free stock and ETF trading, low non-trading fees.
- tastytrade – Low trading and non-trading fees, no inactivity fee.
- MEXEM – Average trading and non-trading fees.
How much do I need to start trading in SA?
2023’s Best South African Forex Trading Platforms
| Forex Broker | Regulator(s) | Minimum Deposit |
|---|---|---|
| Tickmill South Africa | FSCA, FCA, CySEC | $100 |
| Hotforex | FSCA, FCA, CySEC | $5 |
| XM Trading | FCA(UK), CySEC, ASIC, FSCA(application pending) | $5 |
| Exness | FCA(UK), CySEC | $1 |