Top 7 Best Trading Apps in South Africa 2024]

Invezz experts test, rate & review 60+ of the best stock trading apps to help you trade from your phone.
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Updated: Jun 21, 2024
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South Africa’s investment scene is rapidly changing. The global surge in online trading has resulted in a massive increase in the number of South Africans using mobile apps to trade. This growth means fierce competition among top trading app providers which can make picking one a difficult task. 

But fear not, we’re here to help and this guide cuts through the noise to help you find the best trading apps in South Africa. Our team of expert traders have researched and reviewed every major South African trading app. 

We haven’t just compiled a list, we’ve gone the extra mile to ensure you make the best decisions. We’ve prioritised a core set of essential features that every app should offer. Fees, user-friendliness, intuitive navigation, and easy access are just a few of the features we assessed.

Best South Africa trading apps overall 

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  1. IG Markets: Best for trusted and transparent CFD trading
  2. Plus500: Best for international CFD trading*
  3. Eightcap: Best online broker for choice of trading platform
  4. AvaTrade: Best regulated broker for secure trading
  5. Pepperstone: Best low spread & no commission broker

What is the best stock trading app?

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Our expert panel rates Plus500 as the top stock trading app in 2024.

Below are the top trading apps, based on extensive testing and market research. You can filter and sort them according to the features you think are most important, or read on to learn more about each app in detail.

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1
Min. Deposit
300 €
Best offer
User Score
9.8
Zero Commission when trading US shares, only £3 commission for UK shares. Additionally, there’s an FX conversion fee of just 0.5%
Explore a vast range of stocks with 13,000+ options, including popular companies like Amazon, Apple, Tesla, and Netflix.
Offers longer trading hours, allowing you to access markets even when they’re closed elsewhere.
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card
Full Regulations:
ASIC, FCA, FINMA, is a licensed bank (IG Bank in Switzerland)

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

2
Min. Deposit
100 €
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
85 €
Best offer
User Score
9.7
Open an MT5 account to go long or short on 250 of the largest US, Australian, and European stocks
Instruments in 21 time-frames and 80 pre-installed indicators
Multi jurisdiction regulation by ASIC and VFSC
Start Trading
Payment Methods:
PayPal, neteller, Credit Card, Wire Transfer, Cryptocurrencies, skrill
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

7 top trading apps in South Africa, reviewed

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1. IG Markets: Best for trusted and transparent CFD trading

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...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Intuitive web trading platform Excellent demo account available Variety of deposit and withdrawal options Wide variety of useful educational tools Trading platform tutorial to get you started
High fees for CFD trading Slow account opening process Limited product portfolio

Overview

We love IG because it’s one of the most established and reputable names in the online trading industry, known for its reliability, comprehensive market offerings, and strong regulatory compliance. IG offers CFD trading in stocks, indices, ETFs and more, with plenty of useful plugins and integrations to improve the trading experience.

One of the key strengths of IG Markets is its seamless integration with MetaTrader 4 (MT4), a popular third-party trading platform favored by many traders for its advanced charting tools, automated trading capabilities, and custom indicators. This integration allows users to leverage MT4’s sophisticated features while benefiting from IG Markets’ competitive pricing, reliable execution, and extensive market access.

Beyond its product range and platform integrations, IG Markets stands out for its commitment to education and customer support. The company offers a wealth of educational resources, such as webinars, tutorials, and market analysis, which help traders of all levels improve their knowledge and skills.

The fees: Each stock trade is charged a commission, which varies depending on whether it’s a US, UK, or European stock. In each case, a minimum charge applies, so every US stock trade is charged $15 commission or 2 cents per side of the trade, whichever is greater.

Highlights

Visit IG Markets IG Markets Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

2. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 2000 stocks.

Plus500 has something for all types of stock trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting.

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding depending on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Eightcap. Best online broker for choice of trading platform

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Up to $3.5 RT

Fees

$100

Minimum deposit

800

No. assets

Yes

Demo/virtual account

Pros & Cons

Low trading fees for CFDs Trade directly from the TradingView platform Regulated by top-tier authorities Leverage up to 1:500 Partnered with multiple proprietary trading firms
Some markets are not available to all regions Customer support does not operate 24/7

Overview

We love Eightcap because you have several trading platforms to choose from. You can choose between MetaTrader 4, MetaTrader 5, and TradingView. All of these platforms are favourites among retail traders. With the MetaTrade suite of platforms, you can access lots of technical indicators, custom tools, and expert advisors. 

TradingView with Eightcap allows you to trade directly from your charts while accessing the hundreds of tools and features available. Eightcap has over 900 markets available including stocks, forex, indices, commodities, and cryptocurrencies. 

The fees: Eightcap is a CFD broker and charges spreads, commissions, or a combination of both. There are two account types available, RAW, and Standard. The RAW account has ultra-low spreads starting from 0.0 pips but charges $3.5 RT per lot. The standard account is commission-free for most assets and spreads start from 1 pip.

Highlights

Visit Eightcap Eightcap Review
74-89% of retail CFD accounts lose money

4. AvaTrade. Best regulated broker for secure trading

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From 0.13%

Fees

$100

Minimum deposit

1,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Trade 1000+ CFDs with competitive spreads Regulated by Tier 1 financial bodies across the world Consistently highly rated trading platform on web and mobile Offers social trading through its proprietary AvaSocial platform
Spreads are competitive without being industry-leading Some assets are only available to trade through the MetaTrader software

Overview

We love AvaTrade because it offers powerful trading software to anyone who wants to trade professionally. AvaTrade is a CFD broker where you can trade more than 600 stocks from major global exchanges and all stock trades are commission free. 

AvaTrade integrates with trading software like MetaTrader 4 and 5 and boasts its own bespoke and award-winning mobile app software, AvaTradeGo. AvaTrade has been around since 2006 and is extensively regulated in Europe, Australia, Japan, British Virgin Islands, UAE, and South Africa.

The fees: There are no fees on any stock trading. AvaTrade makes money from the Bid/Ask spread instead. Stock spreads start from 0.13%. An inactivity fee of £50 per month is applicable if you don’t log in to your account for three consecutive months.

Highlights

Visit AvaTrade AvaTrade Review
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

5. Pepperstone. Best low spread & no commission broker

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pepperstone logo

0.20%

Fees

...

Minimum deposit

1,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Zero commission on trades Hedging, scalping, and crypto CFD trading available Lots of deposit and withdrawal options, including PayPal
No guaranteed negative balance protection in some jurisdictions No option to purchase stocks or bonds directly, only CFDs and spread betting available

Overview

We love Pepperstone because it’s a CFD broker with top tier regulatory protection. It’s regulated by the FCA in the UK and ASIC in Australia, two of the most respected financial bodies. You can safely trade 1000+ stock or ETF CFDs on Pepperstone, from the US, UK, German, and Australian markets.

Pepperstone’s high level of security makes it a good option for beginners, as does the fact it provides webinars to help you learn from the experts. For more experienced traders, you can access up to 5:1 leverage and integrate your trading account with four leading software platforms, including MetaTrader 4 and 5.

The fees: US stock trades are charged a $0.02 commission per share. UK and German stock trades are charged a 0.1% commission, while for Australian stocks, it’s 0.07%.

Highlights

Visit Pepperstone Pepperstone Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.7%of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Refer to our RDN and other legal documents. Pepperstone Markets Limited, SCB no. SIAF217.

6. Exness. Best for tight spreads and a pro-style trading experience.

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From $0.2 per lot

Fees

$10

Minimum deposit

300

No. assets

No

Demo/virtual account

Pros & Cons

Trade all major asset classes with zero commission Competitive spreads starting from 0.3 pips on standard accounts Highly flexible trading terminal available on mobile app, desktop, and web browser Top-tier regulation and negative balance protection
Restricted access in the US and UK

Overview

We love Exness because it offers tight spread trading and a bespoke trading experience. Exness offers 80+ stocks from leading US exchanges, including the likes of Apple, Amazon, and Google.

Exness offers a great range of pro-style trading tools and a variety of account types to suit all experience levels. Beginners can take advantage of a free demo account or micro-lots for low minimum trades, while more experienced traders can use the Exness terminal or plug it into the MetaTrader software and trade from there.

The fees: Standard accounts aren’t charged a commission but are charged through the spread. Spreads start from 0.3 pips on stocks. Overnight fees apply on some assets (exc. swap-free accounts).

Highlights

Visit Exness Exness Review
Exness does not offer services to residents of certain jurisdictions including the USA, Iran, North Korea and others. The content of the website including translations should not be construed as means for solicitation. Investors make their own and independent decisions. Trading in CFDs and generally leveraged products involves substantial risk of loss and you may lose all of your invested capital.

7. FP Markets. Best for low spread & 0-pip trading

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fp markets logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Trade 10,000+ CFDs across multiple asset classes Highly regulated and reliable platform Copy and social trading features
Not available in the US, Japan & New Zealand IRESS platform is expensive

Overview

We love FP Markets because it uses cutting-edge technology to ensure all stock trades are executed at lightning fast speed. It’s an award-winning broker and offers over 10,000 Australian and international share CFDs and stock CFDs across 4 continents. 

FP Markets has zero restrictions and allows all trading styles, including scalping and running expert advisors. Stock CFDs can be traded directly from its Metatrader 5 platform or via Iress, which gives direct market access to multiple global exchanges such as the Nasdaq, NYSE, and London stock exchange. 

The fees:  FP Market charges commission for all stock trades. For Australian stocks, its 0.05%, Hong Kong stocks, 0.20%, UK 0.10%, European 0.10%, and USA stocks are 2 cents per share. 

Highlights

Visit Review
CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

What is a South African trading app?

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It’s an application that allows you to trade financial markets from your mobile device. Most brokers offer the ability to use their platforms via an app and can be accessed by a smartphone or tablet. When using a South African trading app you will usually be able to carry out the same functions as you can on a broker desktop platform. 

How does a trading app work?

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To use a trading app you need to first register with an online broker. Once your account is created you simply download an app to access your account on the go. South African trading apps let you monitor and analyse the markets from your mobile device. You can buy and sell assets as well as carry out technical analysis on price charts. 

Types of trading apps in South Africa

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The financial industry in South Africa is growing which means there are various types of trading apps available depending on your requirements. For investors wanting access to the whole market, several all-encompassing apps are available. For a more specific approach, niche apps can be downloaded. 

Here’s a look at the types of trading apps in South Africa:

  • Stock trading app. This is generally the most common type of trading app in South Africa and gives you access to local and international stock markets. Usually, you’ll also be able to invest in and trade other assets like ETFs, funds, and even bonds. 
  • Forex trading app. Forex trading in South Africa is a popular asset class which has resulted in a large number of apps entering the market. The best forex trading app in South Africa will allow you to trade the biggest currencies in the world. Many of these apps let you trade forex CFDs. 
  • Crypto trading app. If you’re interested in the world of digital currencies, then using a crypto trading app is a good option. The best crypto trading apps in South Africa let you trade and invest in a wide range of crypto tokens like Bitcoin, Ethereum, and more. 

How should I choose the best trading app for me?

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When selecting a trading app in South Africa, it’s important to consider several factors to make sure you find the one that best suits your investment goals, risk tolerance, and trading style. 

The right app can provide you with a seamless and secure trading experience, while the wrong choice can lead to frustration and potentially costly mistakes. 

We asked our investment experts for some tips you can use to find the best South African trading app: 

Regulation and security should be your primary concerns. 

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Make sure the trading app is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. Regulation is key and indicates the app meets strict financial standards and provides a secure trading environment. 

To protect your account and personal information, look for robust security measures, such as two-factor authentication and advanced encryption. You should also consider the trading app’s record in protecting client funds and preventing unauthorised access. 

The user-friendly interface of the trading app is also crucial. 

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One of the main advantages of using an app is making it easy to purchase and sell assets like stocks, forex, and crypto. You want to be able to find your way around and use all the features available. If you’re a beginner this is even more important, you want useful information to be laid out in a way you can understand as you learn.

Trading tool IG Markets tools Plus500 tools Eightcap tools
View more > IG Markets > Plus500 > Eightcap >

The range of supported assets and markets is another important consideration. 

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These days, the best trading apps in South Africa let you access a wide range of markets so before you use one, make sure the assets you want to trade are available. Top South African trading apps offer access to cryptocurrencies, stocks, foreign exchange, and more. You’ll also be able to trade local and international markets when using a SA trading app. 

Product IG Markets assets Plus500 assets Eightcap assets
View more > IG Markets > Plus500 > Eightcap >

Examine the trading fees and commissions associated with the app. 

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Carefully review the fee structure, including trading commissions, account maintenance fees, and any other charges. Compare the fees across different trading apps to ensure you’re getting a competitive rate. 

All trading apps in South Africa will have a slightly different fee schedule, so take the time to compare. It’s also important to check fees for specific assets. For example, South African crypto apps may offer better commissions for digital assets when compared to generic trading apps. 

Evaluate the educational resources and market insights provided by the trading app. 

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Look for features that offer tutorials, webinars, and market analysis to help you enhance your trading knowledge and skills. Look at the app’s ability to deliver real-time market updates, economic news, and research reports to support your investment decisions. 

Some of the best trading apps in South Africa will let you customise what information you receive. If you’re interested in currencies, you can use a South African forex trading app for tailored FX analysis and market news. 

Educational resource IG Markets resources Plus500 resources Eightcap resources
View more > IG Markets > Plus500 > Eightcap >

Customer support and responsiveness are also crucial factors to take into account. 

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Assess the quality and availability of the app’s customer service, including phone, email, and chat channels. Evaluate the app’s responsiveness in addressing your questions or concerns, as this can be crucial during times of market volatility. Look for an app with a track record of resolving customer issues and complaints efficiently and effectively.

Support type IG Markets customer support Plus500 customer support Eightcap customer support
View more > IG Markets > Plus500 > Eightcap >

Consider what features are available.

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These can be very useful when you start trading. If you’re going to do the work yourself, you want to be able to study a stock’s performance before you invest. Look out for apps that offer charts you can do some technical analysis on. Other tools worth looking for are comparison features, say between a fund’s performance and the market average.

Choose a trading app

Quick answers to key questions

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Can I trade on Android and iOS devices?

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Yes. Most investing apps are available on both operating systems. A few are exclusive to one or the other, but you can easily find out which ones are available on your phone by going to the Google Play store or the App Store.

How much do apps cost?

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To download: usually nothing. Setting up an account is also usually free for trading apps but once you get into the realm of long term investing you might need to subscribe before you can use all the services. Even for free trading apps, there’s usually a cost somewhere in the form of additional fees or commissions.

Do I have to verify my identity with a trading app?

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Yes, usually there is some form of verification but the methods vary. Expect to have to provide some contact details and a form of photo ID to prove who you are before you can trade.

Do apps charge fees for trading?

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Some do, some don’t. Those aimed at retail investors have led the charge towards free trading. Traditional brokers have been forced to reduce their fees to compete but often do still charge. 

Exactly how they charge varies widely, It could be a fixed rate, a percentage of the trade value, or some let you perform a certain amount of trades a month for free. It’s very important to check this before you start. Here’s a look at the types of fees you may encounter for using a trading app.

Fee IG Markets fees Plus500 fees Eightcap fees
View more > IG Markets > Plus500 > Eightcap >

What are the fees for trading apps?

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Each investing app will have its own fees and it will depend on your broker’s terms and conditions. Most modern apps are free to download and offer zero-fee trading. More established brokers tend to charge a flat fee per trade, or a monthly subscription. The cost of using that type of broker to trade can range from R150 to R300.

You need to decide what you want the app to do before you choose one. There are services aimed at day traders, others for long term investors, and still more that use artificial intelligence to invest your money for you. Here are some of the top stock apps, whatever your goals are.

Asset IG Markets fees Plus500 fees Eightcap fees
View more > IG Markets > Plus500 > Eightcap >

Can I use multiple apps at the same time?

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Yes. You can have as many as you like. Some traders prefer to have a few different apps for different asset classes. However, it’s usually easiest to use just one app so that all of your investments are in one place.

Is a mobile trading app better than a desktop version?

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That will depend on your own requirements. Desktop versions sometimes have more features and are generally easier to use. However mobile apps give a lot of flexibility and you can check on your trades even on the go. 

Are stock apps regulated?

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Yes, in a manner of speaking. The stockbrokers themselves are strictly regulated by financial authorities across the world and have to put in place lots of consumer protections. So if you choose a respected, established company then you can be confident their app is regulated too.

Region IG Markets regulators Plus500 regulators Eightcap regulators
View more > IG Markets > Plus500 > Eightcap >

Should I use a trading app in South Africa?

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If you plan on trading the stock market then using an app to do so is a good idea. Most traders use a combination of both desktop and mobile applications and both have their benefits. A desktop app may offer a few more features that are not available on a mobile app, however, mobile apps offer a great deal of flexibility.

The best stock trading apps incorporate most of the functionality of their desktop versions and make buying and selling stocks from your device an easy process. These apps offer the freedom to check on your trades even when you’re not at your computer and make it easy to spot new opportunities very quickly. 

What are the risks of using a stock trading app?

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There is a high risk of losing money from trading, particularly if you’re new or inexperienced. That risk applies whether you trade via a stock trading app or on your desktop. The convenience and ease of using an app to trade can add more risk, because you can open and close a trade from anywhere.

It’s important to stay disciplined when you trade. Create a list of rules in advance to set out the conditions that must be met before you open a trade and the maximum you’re prepared to lose on any one trade. Similarly, set hard and fast rules for when to take profit.

In short, you should make stock trading decisions based on strict guidelines set when you have a clear head. Trading becomes significantly more risky when you make emotional decisions in the heat of the moment. Below is a short summary of the risks, as well as the benefits, of using an app to trade stocks.

If you’re still undecided on if you want to use a trading app in South Africa then you can use the pros and cons below to help you make up your mind.

Benefits

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  • Trading apps offer easy access to the stock market even when you’re on the go
  • Get the latest market information at your fingertips
  • The best apps have the same features as desktop apps
  • Apps are almost universally free to download and use
  • Many apps have a free demo account that you can use to practice trading

Risks

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User reviews: your verdict on the best trading apps

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We conduct regular surveys to get an idea of what the Invezz community feels about a particular app or service. We also welcome feedback from readers as to which apps they like and why. This information from real users factors into the overall ranking and helps us find the top trading app in SA.

Below you can see the results of our surveys and browse through user reviews to find out what other people thought about each service. Use this to help you come to a final decision about which app to use.

Review source IG Markets rating Plus500 rating Eightcap rating
View more > IG Markets > Plus500 > Eightcap >
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FAQs

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Is forex trading legit in South Africa?
Do South African traders pay tax?
How much money do you need to trade in South Africa?
What is the best trading app in South Africa?


Fact-checking & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.