10 Best Stock Brokers in South Africa ( Updated 2024 )✔️ (2024)

We reveal the 10 best share and stock forex Brokers.

Updated for February 2024.*

In this in-depth guide you’ll learn:

• The best stock broker trading platforms.
• Best stock and share trading brokers on the JSE.
• Cheapest stock broker in South Africa.
• Best stock and share trading brokers on the A2X.
• The best stock trading app for IOS and Android.

There are many online brokers that offer stock and share trading services and It’s important to research and compare different brokers to find the one that best suits your needs, as they can vary in terms of fees, commission, trading platforms, and other features including the minimum deposit.

Below is a table comparison of the best share and stock trading brokers.

10 Best Stockbrokers for South African Traders – Quick Overview

1. ✔️Ally Invest
2. ✔️Firstrade
3. ✔️Chase You Invest Trade
4. SogoTrade
5. Robinhood
6. ChoiceTrade
7. Lightspeed
8. Cobra Trading
9. TD Ameritrade
10. Fidelity

With so many different types of online stock brokers available to investors in the market today, it can be a tough task to choose one that works best for a trader’sindividual needs.

We have taken the guesswork out of the process and put a wide-ranging list of online brokers to the test by reviewing the process through hands-on research to determine the best.

Ally Invest

Ally Invest is the discount online brokerage arm of Ally Financial which also operates Ally Bank.

Alongside $0 stock and ETF trades, Ally offers traders great customer service and ease of use through a clean user experience, perfect forbeginner investors.

Regular stock and ETF trades are $0 and options trades cost $0.50 per contract.

Self Trading Overview

Robo Portfolio Overview

As a full-service brokerage, Ally Invest provides traders with a diverse offering which includes Stock, ETFs, mutual funds, bonds and options.

Firstrade

Firstrade offers $0 stock, ETF, and options trades, and is well known for its user-friendly website and Chinese language services. The broker also offers a fully translated customer experience and a mobile app with a clean experience.

Firstrade Overview

Firstrade offers investors free stock, ETF, mutual fund, and options trades (including complex options strategies), mutual funds, and bonds.

Chase You Invest Trade

JP Morgan Chase offers self-directed investing services, which include buying and selling stocks, ETFs, options, mutual funds, and bonds. Chase You Invest Trade is perfect for current Chase Bank customers to simply buy and sell stocks. The multi-account benefits are widespread and include instant transfers, universal login, and $0 trades.

Self-Directed Investing Overview

Automated Investing Overview

The Chase mobile app is available through both Apple iOS and Android.

SogoTrade

SogoTrade charges $4.88 for all equity trades and for customers who make over 149 trades per quarter, the rate reduces to $2.88 per trade. SogoTrade also allows traders to prepay for trades at a discounted rate of $3.88 per trade but a minimum of 20 trades must be purchased and trades will expire after a period of one year. Traders can prepay for 50 trades for a further discounted rate of $2.88 per trade.

SogoTrade Overview

SogoTrade offers stock and options trading.

Robinhood

Robinhood charges users no commission for trading stocks, ETFs, options, or cryptocurrency and offers both a downloadable mobile app plus a web platform. Both platforms have similar feature sets, but the mobile app is fast, simple, and easy to use.

Robinhood Feature Overview

For basic stock trading, Robinhood offers basic watch lists, basic stock quotes with charts and analyst ratings, recent news, alongside simple trade entry.

ChoiceTrade

ChoiceTrade offers $0 stock trades for US customers and options trades for $.40 per contract alongside three third-party platforms: QuoteStream, DAS Trader Pro, and iVest Plus. ChoiceTrade offers traders a mobile app that supports the basics for trading on the go compatible with both iOS and Android.

ChoiceTrade Overview

ChoiceTrade platforms are suited to trade stocks and options online.

Lightspeed

Through the main platform, Lightspeed Trader, two-tiered commission structures are offered – namely per share and per trade. The more volume a trader trades or the frequency, respectively, per month, will lower the rate.

Lightspeed Trader Overview

Lightspeed offers customers multiple platforms to trade on including Lightspeed Trader, Lightspeed Web Trader, and Sterling Trader for stock and options trading.

Cobra Trading

Cobra Trading was founded in 2003 by Chadd Hessing as a direct-access, low-cost online brokerage for professional stock traders and offers multiple trading platforms and personalized services.

Cobra Trading charges commissions on a per-share basis and offers everything a professional trader may require including futures and forex trading through its subsidiary, Venom by Cobra Trading.

Cobra Trading Overview

By design, Cobra Trading focuses mainly on professional stock and options trading.

Read 20 Best DMA Forex Brokers – ( Reviewed ) 2024

TD Ameritrade

TD Ameritrade offers traders the ultimate package including $0 trades, great trading platforms, fantastic market research, industry-leading education for beginners plus excellent customer service. TD Ameritrade stock trades rate is $0, with options trades at $0.65 per contract. $6.95 is the flat-rate fee for a trading penny.

TD Ameritrade Overview

TD Ameritrade offers trading platforms and tools on a desktop-based platform – thinkorswim perfect for day trading,options trading orfutures trading. TD Ameritrade offers two smartphone apps: TD Ameritrade Mobile and TD Ameritrade Mobile Trader.

Bothfuturesandforex trading is available.

Fidelity

Fidelity offers $0 stock trades, industry-leading research, fantastic trading tools, an easy-to-use mobile app, and comprehensive retirement services with a flagship desktop platform, loaded with trading tools.

Fidelity Overview

Fidelity provides the entire spectrum of investment services, from stock trading to retirement guidance, international trading in 25 countries, and exchange between 16 currencies.

Best Stock Brokers on the JSE

The Johannesburg Stock Exchange (JSE) is the largest stock exchange in Africa and offers a wide range of investment opportunities. Some of the best stock brokers on the JSE include:

1. Standard Bank Webtrader: This online trading platform offers access to the JSE and other global markets, as well as a range of research and analysis tools.
2. Investec: Investec offers a range of investment options, including equities on the JSE and other global markets, as well as fixed income, derivatives and more.
3. First National Bank (FNB): FNB offers online trading via its Share Trading platform, which provides access to the JSE and other global markets, as well as a range of investment research and analysis tools.
4. Sasfin: Sasfin Securities is a full-service stockbroker, which offers access to the JSE and other global markets, as well as a range of investment research and analysis tools.
5. Sanlam iTrade: Sanlam iTrade is an online trading platform that offers access to the JSE and other global markets, as well as a range of research and analysis tools.

Best Stock Brokers on the A2X

The A2X is a South African alternative exchange that aims to provide a more cost-effective and efficient alternative to the Johannesburg Stock Exchange (JSE) for trading listed companies. Some of the best stock brokers on A2X include:

1. Standard Bank Webtrader
2. Investec
3. First National Bank (FNB)
4. Sasfin
5. Sanlam iTrade

It’s important to note that A2X is a relatively new exchange, therefore the broker’s offerings may be limited and subject to change. It’s recommended to check with the broker for the most up-to-date information on their offerings and fees. And again, it’s always recommended to check the regulatory compliance of the brokerage firm you choose.

Conclusion

Overall, Share and Stock Trading works in a similar way to a marketplace, where parties will negotiate a price at which to exchange an asset.

Frequently Asked Questions

Do you have to trade stocks with a broker?

No, you don’t have to trade stocks with a broker; however, you do need a brokerage where you purchase stocks, etfs, bonds and other investments. Online brokers usually do not charge fees for buying and selling stocks.

What steps should I follow when buying stocks?

1. Choose a brokerage.
2. Fund the brokerage account.
3. Research investments taking into account your financial situation, goals and risk tolerance.
4. Click to buy your stock.

Is trading forex easier than trading stocks?

As opposed to forex, stocks are less volatile and easier to trade. Forex delivers more returns than stocks and it is easier to beat the markets with forex than with stocks.

Where can I find stocks to trade?

You can get stock info from most online broker sites in real time. You can also check out financial services such as Google Finance or Yahoo Finance.

Can I buy stocks in Uber?

Yes, you can buy stocks in Uber.