5 Best Trading Platforms for Beginners in South Africa
Online trading presents beginners with a lot of challenges. One of the biggest challenges is that there are thousands of trading platforms to choose from. All these platforms offer a range of trading assets and a variety of supporting services. Additionally, the fees and commissions charged by these brokers also vary.
If you find it difficult to compare trading platforms and choose the best, no need to worry. Here are the five best trading platforms for beginners in South Africa.
If you compare trading platforms, you’ll find a few that can match Markets.com when it comes to educational and research tools, it has the best. It is also available on YouTube, Twitter, Instagram, and Facebook, where they have over 100,000 followers. This means new traders can easily get help, either from Markets.com itself or from other experienced traders using this platform.
The digital sign up here makes opening a trading account a breeze – you can do it at the comfort of your house. And when setting up a new account, you’ll have an option to log in through Facebook or Google. Markets.com has a user-friendly app that can allow you to trade on your mobile device.
2. Blackstone Futures
Based in Johannesburg, SA, Blackstone Futures is a stockbroker regulated by the FCSA. It offers USD and ZAR accounts on its CloudTrade and MT4 platforms. The reason it is among the best online trading sites is that the site places a lot of emphasis on educational tools for beginners. They offer free webinars and masterclasses besides their Education header. They also offer insightful educational tools and articles on their site. Blackstone Futures doesn’t charge any commissions on its account and protects its user against negative balances.
IG has earned a spot among the leading trading platforms for beginners because of its extraordinary demo account. Before you start live trading, you can use this demo account to hone your skills. The good news is that this account is compatible with Android, Windows, and iOS devices. IG also has an academy (IG Academy) that’s packed with an array of educational content, including live sessions and step-by-step courses.
IG also has a technical charting package, ProRealTime charts, with about 100 indicators. On top of all that, IG offers several trading platforms that you can choose from, among them the L2 Dealer, MetaTrader4, and the web-based platforms.
If you are in the market for the top trading brokers for beginners, you need to have a look at what Plus500 has on offer. This site has forward-looking trading tools that will give you a wonderful trading experience. You’ll also have an option to use their economic calendar to help you search for corporate and macro events where you can learn more about online trading. Their high-quality charting tool has over 100 editor tools and indicators.
Plus500 also offers a live chat feature to answer any uncertainties or questions or uncertainties you might have.
Many new traders like FXCM because of its customer service which is available 24 hours in the five working days of the week. They also have a live chat, which is important if you need some clarifications. Besides, they also have a FAQs section that you can access through their search bar. You can also call or email their customer service department.
Another reason many people like FXCM is that its spreads are very competitive, and its trading solutions are automated. It has three trading platforms for beginners and experienced traders: NinjaTrader, MetaTrader4, and the Trading Station.
Wrapping it Up
Online trading is a lucrative source of passive income, but it comes with a risk. In some instances, you’ll earn, while in others, you’ll lose. That’s why you need to approach it with an open mind and choose the best online investment platform and the best financial instruments to trade to increase your chances of winning.