Best Trading Apps In South Africa

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Go to broker’s website Plus500 Overview

If you're too busy to read the entire article and want a quick answer, the best trading app in South Africa is Plus500. Why? Here are its key advantages:

Is legit in your country (Identified as United States )
Has a good user satisfaction score 6.82 out of 10
A wide range of trading instruments, including Forex, stocks, commodities and cryptocurrencies, to diversify your investment portfolio.
Low trading fees and tight spreads reduce transaction costs, increasing potential profits.

Go to broker’s website Plus500 Overview

Below, we'll explain in more detail why we believe this and how brokers were evaluated.

Best trading apps in South Africa are:

Eightcap - Best broker to trade directly from TradingView charts
XM Group - Best Order Execution (99.35% of orders are executed nearly instantly)
RoboForex - Best Forex broker for beginners ($10 min. deposit, copy trading)
Exness - Best raw spread account (avg. spread for major FX pairs 0.1-0.2 pips)
VT Markets - Attractive Forex bonuses (50% welcome bonus, 20% deposit bonus)

For traders in South Africa, choosing the right trading app is essential for achieving success in the financial markets. The South African financial market is regulated by the Financial Sector Conduct Authority (FSCA), which ensures a safe and transparent environment for trading activities.

This article highlights and analyzes the top five trading apps available to South African clients. Each app has been evaluated based on factors such as the specific features tailored to South African users, associated fees and commissions, user-friendliness, and the variety of trading tools they offer.

Best Forex trading apps in South Africa comparison 2025

Best Forex trading apps in South Africa
	Min. deposit, $	Open an account
Eightcap	100	Open an account Your capital is at risk.
XM Group	5	Open an account Your capital is at risk.
RoboForex	10	Open an account Your capital is at risk.
Exness	10	Open an account Your capital is at risk.
VT Markets	100	Open an account Your capital is at risk.

Brokers in South Africa - fees comparison

In this section, we compare the fees of the leading trading apps in South Africa based on several key criteria. We examine the floating spread for EUR/USD on standard accounts, both minimum and maximum pips, as well as ECN commission and spread for EUR/USD. Additionally, we consider withdrawal and deposit fees, along with any inactivity fees.

Fees of the leading trading apps in South Africa
	Min Spread EUR/USD, pips	MAX Spread GBP/USD, pips	ECN Commission	ECN Spread EUR/USD	Withdrawal fee, %	Inactivity fee, $
Eightcap	0,4	1,5	3,5	0,1
XM Group	0,7	1,2	3,5	0,2		10
RoboForex	0,5	1,5	2	0,2	0-4
Exness	0,6	1,2	3	0,1
VT Markets	0,4	1,4	3	0,3	1-3

How do the best trading apps in South Africa compare on supported assets?

Supported assets of the best trading apps in South Africa
	Currency pairs	Stocks	Futures	ETFs	Oil	Gold
Eightcap	40
XM Group	57
RoboForex	40
Exness	100
VT Markets	55

Rules and regulation

Forex regulation in South Africa

The Financial Sector Conduct Authority (FSCA) is the primary regulatory body overseeing financial institutions in South Africa, including Forex brokers. Established to ensure market integrity and protect consumers, the FSCA supervises the conduct of financial service providers. While the FSCA does not issue specific licenses exclusively for Forex trading, it requires brokers to register as Financial Service Providers (FSPs) to operate legally within the country. This registration mandates adherence to the FSCA's standards, promoting transparency and fairness in financial services

Investor protection in South Africa

Although the FSCA plays a significant role in regulating the financial sector, direct government protection for individual Forex investors is limited. To enhance investor safety, traders are advised to engage with brokers that are not only registered with the FSCA but also affiliated with reputable international regulatory bodies. Membership in such organizations often indicates adherence to global best practices and offers additional layers of oversight. Investors should conduct thorough due diligence, verifying a broker's regulatory status and reputation before initiating trading activities.

Taxation in South Africa

In South Africa, profits derived from Forex trading are subject to taxation under the country's income tax framework. The South African Revenue Service (SARS) requires traders to declare all income from Forex activities, with tax rates applied on a progressive scale ranging from 18% to 45%, depending on the individual's total income bracket. For traders operating as businesses or engaging in Forex trading as a primary income source, Value Added Tax (VAT) considerations may also apply. Professional traders should consult with tax professionals to ensure compliance with all applicable tax obligations, including VAT, and to understand potential deductions or liabilities.

How to choose a Forex broker’s app in South Africa?

To begin trading Forex in South Africa, you will need a broker. Most brokers offer their services online. We recommend choosing FSCA regulated ones. Depending on your device, there are many trading apps to choose from. As a guide to choosing the right app for you, we have outlined six vital steps below:

Learn regulation and reliability

Before you download any brokers app, be sure to check for only regulated brokers. Trading Forex in itself involves a high measure of risk. But, trading Forex using an unverified or unlicensed broker leaves you open to scams and loss of all your investment. Moreover, the regulatory bodies may not be able to help you retrieve your capital in the event of any misdemeanor. You can obtain regulatory information about a broker from the FSCA website using the broker's license number. Use brokers' apps that multiple leading regulators license like the FSCA and FCA.

Look at offers for local clients

Some brokers may offer clients from your region bonuses on registering with them. This gesture indicates the broker's interest in clients from South Africa. Consider using brokers' apps with unique offerings like high deposit bonuses, first deposit bonuses, and even referral bonuses.

Compare trading assets

Check out what pairs are available on the broker's app, particularly exotic pairs. If you wish to trade the ZAR, we recommend apps that offer exotic currency pairs. Also, study the fees attached to trading these assets. Choose apps that provide plenty of instruments at the lowest prices.

Explore app’s functionality

Whatever your skill level is when it comes to trading, you will need an app that is easy to navigate, and that is compatible with your device. Select an app based on your experience level. Start by using apps that are easier to operate and provide lots of educational materials and technical analysis. Other tools to look for include risk management tools, price alerts, financial news updates, and real-time charts.

Try demo

Operating a demo account before proceeding to live trading has its perks. Doing so allows you to have a clearer understanding and feel of the app. That way, you can tell if the app's features suit you. Also, a demo version can help you test how the app will operate on your device without risking your money.

Open an account

Most brokers try to simplify the registration process for new clients. Some require you to submit relevant documents for verification before your account becomes active. Whatever the case, consider apps with a convenient registration process.

Which apps are legal in South Africa?

When selecting trading apps in South Africa, it's crucial to choose platforms that operate legally and are regulated by reputable authorities. While the Financial Sector Conduct Authority (FSCA) oversees financial services within South Africa, many traders opt for brokers regulated in jurisdictions known for stringent financial oversight, such as the European Union (EU), United Kingdom (UK), United States (USA), and Australia.

Brokers regulated in these regions are subject to rigorous standards, ensuring enhanced security and transparency for traders. For instance, the UK's Financial Conduct Authority (FCA) and Australia's Securities and Investments Commission (ASIC) are renowned for their comprehensive regulatory frameworks. Engaging with brokers under such oversight can provide South African traders with added confidence in the integrity and reliability of the trading platforms they use.

Therefore, when evaluating trading apps, it's advisable to prioritize those affiliated with these esteemed regulatory bodies to ensure a secure trading experience.

How to make money on Forex in South Africa without investing?

The prospect of earning money on Forex without investing has attracted many in South Africa. This unique opportunity allows individuals to engage in the financial markets without the immediate need for capital investment. Here are some of the opportunities for earning without investing:

Demo trading

Demo trading offers a risk-free entry into Forex trading. Platforms provide virtual accounts with fake money, allowing new traders to practice and develop their skills without financial loss. This hands-on experience is invaluable for understanding market dynamics and testing trading strategies.

No-deposit bonuses

Some brokers offer no-deposit bonuses to attract new clients. These bonuses allow traders to start trading real money without making a deposit. Profits can often be withdrawn, making this an attractive option for those looking to start without investment.

Affiliate programs

Affiliate programs are another avenue for earning without direct trading. Traders can refer others to a platform and receive a commission for each successful referral. This method can generate consistent income without the need to engage directly in trading.

Copy trading

Copy trading platforms allow individuals to follow and copy the trades of experienced traders. This method enables those without significant knowledge of the market to benefit from the expertise of seasoned traders, possibly earning profits without having to manage their trades actively.

Participating in trading competitions

Numerous Forex brokers organize trading competitions, often with demo accounts. These competitions challenge participants to prove their trading skills, and winners may receive cash prizes or trading bonuses. It provides an avenue for traders to earn without investing personal funds.

Educational content creation

If you possess strong knowledge of Forex trading, creating educational content such as blogs, videos, or courses can attract an audience. Monetizing this content through advertising, sponsorships, or selling premium materials can generate income without direct trading.

What are the pros and cons of trading in South Africa

Like any investment opportunity, Forex comes with its own set of advantages and challenges. Here's an insightful look into the pros and cons of trading in South Africa:

Accessibility. Many brokers operate in South Africa, providing easy access to various markets. Platforms often offer user-friendly interfaces, making it convenient for traders at all levels.
Regulatory framework. South Africa has a well-defined regulatory environment governed by bodies such as the Financial Sector Conduct Authority (FSCA), ensuring transparency and protection for traders.
Diverse market opportunities. Traders have access to a wide range of instruments, including Forex, commodities, stocks, and cryptocurrencies, allowing for a diversified portfolio.
Growing financial sector. South Africa's financial market is one of the most advanced in Africa, with sophisticated infrastructure and technology, facilitating efficient trading.
Availability of educational resources. Many brokers and institutions offer comprehensive educational materials, webinars, and workshops to help traders develop their skills and knowledge.

Market risks. Volatile market conditions and global economic factors can lead to significant losses, especially for inexperienced traders who may not fully understand the risks.
Currency exchange risks. Fluctuations in the value of the South African Rand can impact returns, particularly when trading international assets.
High competition. The growing popularity of trading means increased competition, making it challenging for new traders to establish themselves.
Regulatory challenges. While there is regulation, some areas may still be prone to fraudulent activities, and traders must exercise caution in choosing credible brokers.
Potential overleveraging. Many brokers offer high leverage, which can amplify gains but also lead to substantial losses if not managed carefully.

Choose apps that offer practical lessons or guides tailored to South African market conditions

When selecting a trading app in South Africa, focus on tools that match how you trade instead of choosing the most popular option. Look for apps that let you customize charts and provide real-time data, as these help you adapt your strategies to market changes. Ensure the app supports local banking options for smooth deposits and withdrawals in ZAR, which reduces currency conversion fees and makes accessing your funds easier. An often-overlooked but valuable feature is offline functionality. Apps with offline capabilities allow you to analyze market trends and plan strategies even when you’re not connected, which is helpful in areas with unstable internet.

Many new traders forget to prioritize educational tools within trading apps. Choose apps that offer practical lessons or guides tailored to South African market conditions. These should cover local economic factors, such as announcements from the South African Reserve Bank, which can influence currency and stock prices. A good trading app isn’t just a platform—it should act as a partner, helping you learn and improve with useful insights and reliable features.

Methodology for compiling our ratings of Forex brokers

Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include:

Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.

Find out more about the unique broker assessment methodology developed by Traders Union specialists.

Conclusion

Choosing the right trading app in South Africa in 2025 requires careful analysis and understanding of your needs. User-friendly interface, reliability and access to key features are what distinguish the best platforms. Before installing, it is worth reading reviews, testing demo versions and making sure there are no hidden fees. The right app can greatly simplify the trading process and increase your efficiency in the market. Use the suggested recommendations to find a platform that will be a reliable tool in achieving your financial goals. Remember that success largely depends on preparation and choosing the right tools.

FAQs

Does it cost anything to download these trading apps?

No, all the trading apps mentioned in this article are free to download whether using iOS or Android devices. Costs come from spreads, commissions, and overnight financing.

What internet connection speed do I need to trade effectively?

Most apps work reliably enough through 3G, but 4G is recommended.

Which app offers the greatest number of technical indicators for analysis?

The MetaTrader apps lead in terms of technical indicators offered, with over 30 built-in indicators alongside unlimited custom indicators available for installation.

How do I choose between MT4, MT5 or a broker's custom platform?

MT4 and MT5 are widely used due to extensive third-party resources, but some customized platforms offer unique features. Consider which allows your preferred strategies and integrates well with tools or bots you need.

Team that worked on the article

Maxim Nechiporenko has been a contributor to Traders Union since 2023. He started his professional career in the media in 2006. He has expertise in finance and investment, and his field of interest covers all aspects of geoeconomics. Maxim provides up-to-date information on trading, cryptocurrencies and other financial instruments. He regularly updates his knowledge to keep abreast of the latest innovations and trends in the market.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).