South Africa
  • Only reliable and regulated CFD providers (accounts); your funds are protected and segregated

  • Compare CFD brokers by trading features and tools, platforms, range of markets, and more

Online CFD Broker Comparison – South Africa

Broker
fpmarkets broker
Markets
  • Common CFD Markets +
  • Cryptocurrencies

Platforms
  • WebTrader

  • MetaTrader 4

  • MetaTrader 5

  • Mobile & Tablet

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Apply

71% of retail investors lose money when trading CFDs with this provider

Notable Benefits
  • Trading Tools: VPS, Traders Toolbox, Forex Calculator

  • Transparent pricing and fast execution

Broker
pepperstone broker
Markets
  • Common CFD Markets +
  • Cryptocurrencies

Platforms
  • cTrader

  • MetaTrader 4

  • MetaTrader 5

  • Mobile & Tablet

Open Account
Apply

72% of retail investors lose money when trading CFDs with this provider

Notable Benefits
  • Razor sharp pricing, with some of the most competitive spreads/commissions in the industry

  • Fast execution, no dealing desk intervention and deep liquidity along with award-winning 24/7 customer support

Broker
cityindex broker
Markets
  • Common CFD Markets +
  • Cryptocurrencies

  • Options

  • Bonds and Interest Rates

Platforms
  • Proprietary AT Pro

  • WebTrader

  • MetaTrader 4

  • Mobile & Tablet

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Apply

67% of retail investors lose money when trading CFDs with this provider

Notable Benefits
  • Over 12,000 financial markets to choose from and trade on state of the art trading platform with free analytical and technical indicators; WebTrader and MT4 are also available to access all the markets on offer

  • EU (EEA) customers are NOT accepted

Broker
xtb broker
Markets
  • Common CFD Markets +
  • Cryptocurrencies

  • ETFs

Platforms
  • xStation

  • xStation Mobile

  • No MetaTrader 4/5

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Apply

77% of retail investors lose money when trading CFDs with this provider

Notable Benefits
  • Trader’s calculator, performance statistics, sentiment

  • Easy to use, fully customisable trading platform

Broker
xm broker
Markets
  • Common CFD Markets +
Platforms
  • WebTrader

  • MetaTrader 4

  • MetaTrader 5

  • Mobile & Tablet

Open Account
Apply

76% of retail investors lose money when trading CFDs with this provider

Notable Benefits
  • All clients benefit from Negative Balance Protection, so they are never at risk of losing more than their account balance

  • All clients enjoy the same fair and ethical trading conditions regardless of their net capital worth

Broker
spreadex broker
Markets
  • Common CFD Markets +
  • Cryptocurrencies

  • Options

  • Bonds and Interest Rates

  • Exchange Traded Funds

Platforms
  • Proprietary

  • Mobile & Tablet

Open Account
Apply

58% of retail investors lose money when trading CFDs with this provider

Notable Benefits
  • Even though SpreadEx don’t offer MT4, they make up for it with a humongous range of stocks to choose from

  • Simple but advanced trading platform to make your trading experience as pleasant as possible

Good CFD Broker in South Africa

Traders and investors from all walks of life understand the need of using only regulated and trustworthy companies, but with so many CFD brokers to choose from, they would be forgiven for feeling overwhelmed and bewildered. Traders will have different requirements and needs depending on their trading experience and objectives, which is why it’s critical to review what brokers have to offer and how to make the most of the features and trading platforms available; the comparison table above makes it simple to see what each CFD broker has to offer, as well as their pros and cons. Let’s take a closer look at what to expect and how to only trade with the reliable CFD brokers.

Regulations

The first important factor to consider while looking for a reliable Contracts For Difference broker is regulation. Any broker who is not regulated should be avoided at all costs. Companies that are regulated are subject to more strict rules as a result, ensuring that traders get the best deal possible and preventing rogues or unfair business practises from affecting the success of others.

Most traders make a split-second decision when selecting a CFD broker, and as a result, a substantial proportion of traders are unsatisfied with the level of service they receive. To ensure that your search goes smoothly, remember to check for rules first. This will protect your money, personal information, and trading portfolio from unfair, illegitimate influence.

Regulated brokers are permitted to do lawful transactional business in South Africa, and given the nature of CFDs, traders should seek out a broker who is registered with a competent regulatory authority to ensure the level of assurance and security they demand. To make it easy for traders and investors, we compare and review ONLY regulated CFD brokers.

Check Reputation

You wouldn’t put your money in the hands of the first stranger you meet on the street; instead, you’d open an account with a respected bank. Why not do the same with CFDs? You should evaluate a broker’s reputation and what other traders have to say about it if you want to have a reputable broker. Fortunately, we’ve done the effort for you and combed internet forums and review sites to ensure that we only include reliable CFD brokers; firms with whom you can feel at ease and have a positive trading experience.

Trading Costs

CFD brokers, like any other business, are in it to make money, and they charge their clients for each trade they make. To have a successful trading career, it is critical to understand what fees brokers charge and how to minimise them.

The spreads, or the difference between ask and bid prices, are how CFD brokers make the majority of their money. Traders gain from tighter spreads since they pay the spread every time they trade. Unless otherwise specified, brokers usually have variable spreads that alter depending on the underlying market circumstances; we only feature brokers with competitive spreads and transaction fees to ensure traders keep their trading costs low.

Overnight finance (swap rate) is a cost paid by traders for keeping their holdings overnight. CFDs are a leveraged product in which you borrow money from your broker and pay interest every night for maintaining your positions. This price is normally approximately +/-2.5 percent of the relevant interest rate benchmark, and if you plan on holding your positions for a long time, this fee might eat into your profits, therefore you should choose a swap free account.

Gone are the days of hidden fees like deposit and withdrawal fees or inactivity penalties; nowadays, CFD providers aim to keep their prices as straightforward and transparent as possible.

Tradable Markets on Offer

The number of markets you can trade from a single account is one of the things that makes CFDs so appealing, which is why it’s critical to compare CFD brokers to ensure you can trade the markets you want. The markets available at each broker are listed in the table above; while all brokers offer the same basic markets (indices, stocks, currencies, and commodities), the number of stocks and other markets available varies greatly, ranging from 1,000 to 20,000. Before you open a CFD account with a broker, be sure they provide the markets you wish to trade.

Extra Features

Depending on your trading style, experience, and volume, CFD brokers will typically provide a variety of accounts to pick from. Make sure you choose the best account for your trading needs to avoid time and confusion in the future.

If you’re unsure which account is ideal for you, give them a call or use live chat to get help. This way, you can put their customer service to the test and end up with the perfect trading account; there’s no shame in seeking assistance from customer support; they’re there to help.

South Africa’s Leading CFD Trading Platforms

The CFD trading platform is critical, and you should familiarise yourself with it and practise placing trades and orders to ensure you understand how to do so. While most brokers will supply you with a free trading system, certain brokers will present you with a selection of well-known platforms. The trading programme you choose is totally up to you; however, it is recommended that you begin trading on a platform that you are familiar with and understand, or that you spend some time learning how to use it efficiently. You may always test a system by starting a free demo account and then transferring to a live account when you’re ready to trade.

UI and Design

Trading platforms have fairly similar designs, and if you’re comfortable with one, you’ll be comfortable with another, so you should choose the platform that appeals to you the most. Each platform is easily customizable, allowing you to fine-tune and customise it to your specifications.

Check Trading Tools

Each platform will provide traders with a set of trading tools, but the variety of accessible tools will differ substantially, and it is critical to use the system that provides you with the tools necessary to trade successfully. The majority of systems will have an economic calendar and announcements, as well as order management, charting tools, indicators, and the ability to trade directly from the graphs. This is where the comparison table above comes in handy, as it enables you to quickly determine which trading tools are available on each platform and which brokers offer additional free services.

If you are new to trading and are just getting started as a CFD trader, it is critical that you do not become overwhelmed by the number of tools available; just because your trading platform has some excellent tools, does not mean you have to utilise them all at once. Utilize tools judiciously and only when necessary; just because your charting software includes 50 indicators does not imply you must utilise them all on every transaction.

Orders

To limit losses, every trader should employ orders, particularly stop loss orders. Prior to trading, ensure that you understand how orders are placed in order to avoid misunderstanding and frustration during a live trade. Different platforms will handle orders differently; for example, some will want you to specify a price at which you wish to quit the trade, while others may require you to specify the number of “points” away from the current price. It is entirely up to you which orders to employ, if any; nonetheless, orders will save you time and help you maintain control of your emotions, as you will no longer need to sit in front of a screen monitoring every tick and panicking when a deal goes south.

South Africa’s CFD Broker Selection

It is an undisputed fact that trading with a reputable and licenced CFD broker will significantly improve the enjoyment and profitability of your trading career. That is why traders must compare and research CFD trading platforms and providers to ensure they are getting the best deal possible; this may sound hard and time-consuming, but it will certainly pay off in the long term.

The best CFD brokers offer a secure trading environment, robust trading platforms, exceptional customer service, and competitive pricing. Do not gamble with your broker selection; trade with reputed CFD brokers that you can trust and rely on.

Which CFD broker in South Africa offers the best value for money?

It truly depends on your trading requirements, expertise, and preferences, and only you as a trader can determine which CFD broker is the best fit for you, but your broker should undoubtedly be trustworthy and licenced.

Do I need to use a licensed broker to trade?

While you are free to trade with any CFD broker, the laws exist to safeguard you from unethical and dishonest providers. Regulated brokers provide you with additional peace of mind because they are required to adhere to certain regulations and laws.

Is having more CFD markets a better option?

Not always; it is highly dependent on the markets in which you wish to trade. Because the majority of traders engage in widely traded markets, they do not require a trading platform to list thousands of equities.

How should I choose a CFD trading platform?

The finest CFD platform is one that provides you with all of the required features and tools to execute your trading strategies and achieve your trading objectives; trade on a platform with which you are familiar.

How about the charges associated with CFD trading?

The CFD market is saturated, and spreads across the board are extremely low. The CFD brokers listed above offer some of the lowest spreads and swap rates available in South Africa. Especially for high frequency traders, it’s important to keep an eye on the commissions and spreads they pay to their broker.