Which is the Cheapest Online Trading Platform in South Africa?

Which is the Cheapest Online Trading Platform in South Africa?

When it comes to the cheapest online trading platform South Africa, IG tops the list. It is the leading broker that created spread betting. IG is followed by FXCM then Plus 500, in that order. There are many great trading platforms in South Africa, the choice of which depends on an individual investor’s needs.

Let’s have a look at these three trading platforms:

1. IG

IG

IG is among the best brokers in South Africa in terms of cheapness and ease of trading. On this platform, you can access a variety of financial assets, including stocks, indices, commodities, spread betting, and contracts for difference (CFDs). 

You can’t imagine that you’ll be able to access all these with a minimum deposit of only $1. while here, you’ll also have a range of trading platforms to choose from. These include MT4 (MetaTrader 4), L2 Dealer, the IG platform (proprietary), and the ProRealTime platform, which is web-based. 

2. FXCM

Cheapest Online Trading Platform in South Africa - FXCM

FXCM comes second after IG in terms of cheapness. This platform requires a minimum deposit of only $50. and once you sign up, you’ll have access to spread betting, FX trading, and CFD trading tools. FXCM works hard to provide investors all over the world access to the most liquid and largest financial market globally. 

Their transaction platforms are very robust. You can choose from Trading Station, NinjaTrader, and MetaTrader. There’s also the ZuluTrade platform, a web-based platform that makes copy trading possible. Without any doubt, all these features make FXCM be one of the best brokers in South Africa

3. Plus 500

Cheapest Online Trading Platform in South Africa - Plus 500

Plus 500 is particularly popular for CFDs. It delivers top-notch trading tools on indices, options, forex, commodities, shares, and ETFs. The minimum deposit required here is only ZAR 1000, and this will give you access to over 2,000 financial instruments. The platform supports over 30 languages, making it the best trading platform for beginners.