Best Trading Apps in South Africa 2023
No matter your experience level or inexperience, trading safely and securely is paramount to your success. The right app can help you avoid scams, protect your funds, and guarantee a well-managed portfolio.
Day traders in South Africa can rely on the best apps for reliable platforms and user-friendly features. Furthermore, these applications give them access to a vast selection of markets and products.
For South African traders looking to profit from the foreign exchange market, there are numerous methods. One of the most efficient is using a trading app which enables you to monitor investments in real time, analyze data, and maximize profits.
XM is one of the top forex brokers worldwide and provides traders with a number of innovative features. For instance, its mobile app lets them monitor their positions while on-the-go, while a free demo account allows them to practice new strategies without risk.
In addition to these advantages, XM also provides a variety of deposit and withdrawal methods. They support electronic wallets like Moneybookers or Skrill as well as credit cards and bank wire transfers. Furthermore, there is no fee on both deposits and withdrawals with them.
When opening an XM account, you have the option of choosing from several base currencies such as the South African Rand (ZAR), Singapore Dollar (SGD), and other global coins.
XM website is accessible in more than thirty different languages, so you can communicate with customer support staff in your native tongue. They're accessible 24/7 via email, phone and live chat for your convenience.
Another unique aspect of XM is their downloadable mobile app. This allows you to monitor your trades and place orders from the convenience of your smartphone or tablet, plus it gives access to live markets and educational tools.
XM's downloadable mobile app is compatible with both Android and iOS devices, making it simple to download and customize to fit your needs. With just a few clicks, the app works seamlessly on your device in no time!
XM has earned itself a well-deserved reputation in the forex broker industry, boasting over 30 awards to its name. This success can be attributed to its superior service and competitive trading conditions that are overseen by multiple financial regulators. Plus, you can rest assured knowing your funds are safe with XM's dedicated team of customer support representatives who speak more than thirty different languages.
The top trading apps in South Africa 2023 provide a vast selection of financial products and services. These include stock CFDs, forex, indices, commodities and more. Plus they boast an easy-to-use user interface, user-friendly trading platforms and competitive spreads.
IG is a highly-rated stock trading app with access to numerous markets, such as South African stocks and international shares. However, its fees vary according to market and trading volume.
Pepperstone is a foreign exchange broker that provides an extensive selection of trading instruments. Its product lineup consists of 62 currency pairs, three cryptocurrencies and 23 commodity CFDs with some pairs having minimum spread values as low as 0.0 pips - making it perfect for traders on a budget.
If you're a novice trader, Pepperstone provides a 30-day demo account and extensive educational resources. This enables you to test out your strategies and learn how to make money on the market without risking real cash. Plus, with paper money, it allows for practice before investing with actual funds.
Additionally, you have access to a range of research tools. These include copy/social trading platforms, expert advisors (EAs), indicators and the AutoChartist technical analysis tool.
Additionally, Pepperstone's mirror trading feature allows you to authorize trading algorithms to execute trades automatically when certain conditions are met. This is an efficient way to save both time and money while still having complete control over your portfolio.
Another viable option is the Active Trader program. It provides forex rebates that can be applied towards covering commissions or spreads. These rebates are earned based on your trading volume and paid directly into your brokerage account in cash.
The top stock trading apps in South Africa 2023 can assist you to trade safely and securely by providing various risk management tools. These include limit and stop-loss orders, which are ideal for newer traders who want to safeguard their capital against unexpected losses. Furthermore, these applications enable you to set a maximum loss or profit on each trade for added exposure management.
Exness is an award-winning online forex and CFD broker that supports both MT4 and MT5. Customers can trade with Exness using various funding methods such as credit/debit cards, e-wallets, etc. Its website is available in 14 languages with multilingual customer support options such as chat and email.
Account opening with Exness is a fast and straightforward process. New clients can open an account at no cost and begin trading immediately; however, deposits via bank cards or cryptocurrency must be verified by the company before being approved for trading. Once this step is complete, traders can deposit up to 2000 USD without any minimum trade requirement.
The platform is user-friendly, featuring a comprehensive trading interface and convenient tools like watchlists and 1-click trading. Furthermore, it provides various order types as well as an impressive charting package with 50 drawing tools, 100 indicators, 9 time frames, and 7 chart types.
Exness provides access to a broad selection of financial markets, such as forex, commodities, stocks and CFDs. Its trading conditions are competitive and the broker has earned an excellent reputation for customer service and security.
Customers of Exness can trade safely and securely thanks to its FSCA license. The broker provides segregated accounts for client funds, negative balance protection and limits on retail trading leverage. Moreover, Exness provides a demo account for testing out strategies and risk management.
Demo accounts are an ideal starting point for new traders to get familiar with the trading environment before investing real funds. Furthermore, they help develop strategies and practice risk management techniques. Furthermore, demo accounts let you use virtual funds which is an excellent opportunity to practice and perfect trading techniques.
Exness is a highly-reputable broker and its support team are experts in their fields. Available 24 hours a day in 15 languages, customers can contact Exness's customer support via phone, live chat, email or via the help centre for immediate assistance.
The company is regulated by the Financial Services and Markets Authority of Singapore, offering a wide range of instruments and currencies. With competitive trading conditions, this platform appeals to both novice and experienced traders alike.
Avatrade is an established online broker with a comprehensive selection of trading platforms and tools to suit all levels of traders. Regulated in Europe, Australia, South Africa and the Middle East, its offices span across the globe. As both forex and CFD broker, it offers great options for both newcomers and experienced investors alike.
Avatrade's mobile app supports a range of trading instruments and provides useful tools to help you make informed decisions in the market. These include educational videos, an economic calendar, analyst views and trading ideas from third-party analytical company Trading Central.
Navigating the app is intuitive and the interface clean. Furthermore, AvaProtect - a unique risk management tool - reimburses clients for losses at specified points after a specified period has elapsed.
Avatrade stands out among other brokers by not charging any fees for its trading platforms or tools. Its spreads on Forex are average, and its interest rates are lower than those charged by some other market makers.
Another advantage of Avatrade is its low minimum deposit requirement of only 100 USD, meaning even beginners can take advantage of its commission-free account.
Avatrade also provides its South African clients with a number of benefits, such as a 20% on-deposit bonus and one-on-one trading sessions with an account manager. The firm's support is available via phone, live chat and email.
The company is headquartered in Dublin, Ireland and has been active since 2006. It offers forex and CFDs on stocks, commodities, indices and currencies worldwide through offices located throughout Asia, Europe and Australia that serve clients from over 20 countries around the world.
In addition to a free demo account, Avatrade provides educational materials to get new traders up and running. Plus, its customer service is exceptional - representatives are available around the clock in 14 languages.
Avatrade provides trading in five base currencies: EUR, GBP, AUD, CHF and USD. Traders may opt to use a currency denominated in their home country; however they must pay conversion fees each time they trade using that currency.