Whether you intend to buy and sell shares in South Africa, you must first locate a trustworthy stock market app. The purpose of these applications is to facilitate and simplify the procedure of buying and selling shares. It will also ensure that you can escape a losing position regardless of your location.
But, with the vast array of trading apps, how would you select the most suitable one?
This list looks at the best stock apps in South Africa. Along with analyzing the best companies of 2022, we also provide helpful recommendations on what to check out when selecting a stock market app for yourself.
Many conventional trading sites often include trading apps. Therefore, when selecting a stock app, you should evaluate a number of criteria, including fees, tradable stocks, payment methods, research, and licensing. We have compiled a list of the best trading apps in South Africa to make trading easier for you. Let’s look at these trading apps.
Libertex – a renowned name in the stock trading industry, is a global CFD broker with over 20 years of trading expertise. Libertex is undoubtedly one of South Africa’s most respected equity trading firms, with operations in Cyprus and other countries. Due to its thoughtful approach to trading, the company has amassed over 2.2 million users globally. Libertex offers about 250 main financial products, such as forex currency pairs, altcoins, stocks, bonds and stocks.
Libertex supports MetaTrader 4 and 5, allowing users to effortlessly enter the application with their login details and start trading. Have you noticed that Libertex is also considered the best ETF app in South Africa?
The wonderful thing about Libertex is that you can start trading with just €10. It also offers a wide range of payment options, including credit/debit cards, Skrill, PayPal, bank transfers, etc. When you use Libertex, there are no deposit fees, which means you can significantly increase your buying power. However, withdrawal fees vary greatly depending on your chosen payment method, with bank transfers costing €1 and Skrill payments being free. Libertex offers consumers leverage of up to 1:500 to enhance possible profits on investment, contributing to its popularity.
2. Beneficial effects
Vantage FX is a leading CFD platform that allows trading many stocks from the United States, United Kingdom, European Union and Australia. The platform stands out for its high leverage solutions. Individual US stocks can be traded on a 20:1 margin, making it simple to market big bets with a small trading account.
Vantage requires a minimum investment of $200, so getting started with this broker can be expensive. Additionally, the company charges a $6 fee for each transaction. The best part is that when you trade stocks with Vantage FX, there is no extra spread.
This company has its own proprietary iOS and Android mobile app. It’s really robust, with full-screen charts, 10 distinct timeframes, and a host of important technical indicators. We also like how the app includes current market trends so you can stay up to date with the market wherever you are.
Vantage FX connects to the MT4 and MT 5 mobile apps for even more analytical capabilities on your smartphone. Vantage FX is regulated in the UK and Australia, and all clients benefit from negative balance protection. If you ever need help with your account, a 24/5 live chat option is available right within the mobile app.
Plus500 is another great trading program that is suitable for stock and CFD trading. It might come as a surprise to you that Plus500 offers trading of over 1500 stock CFDs. This includes companies listed on the Johannesburg Stock Exchange as well as other markets.
You will also be able to trade key stocks listed in the US, UK, Japan, Hong Kong and Germany. Every stock CFD available on Plus500 can be purchased commission-free. Plus500 spreads are often quite competitive, especially on large stock CFDs.
Plus500 provides stocks, forex, interest rates and more in addition to stock CFDs.
Both Android users and iOS users can use this trading platform. The best part about this trading app is that it offers free trading, but you need to create an account to use it. At Plus500, it only takes a few minutes. You will be allowed to trade with up to 1:30 leverage once you create your account. You can fund your account with any of your debit or credit cards, a conventional bank account, or an e-wallet. The site requires at least an investment of £100, or around R1,500. It does not charge any fees for deposits or withdrawals.
Despite its enormous importance, FXCM is particularly prevalent among South African traders. The FSCA regulates the broker, which is why this trading platform is worth using. This ensures that South Africans can trade stocks in a safe and secure environment. FXCM offers many possibilities for trading on mobile devices.
The proprietary TradingStation platform, accessible online or through a mobile app, is at the forefront. We appreciate that FXCM also provides third party trading apps. Among these are MT4, NinjaTrader and ZuluTrade. Simply install the app and login using your FXCM credentials.
After downloading and installing your favorite app, you will have access to a host of technical indicators and chart analysis tools. Everything has been optimized for a smaller device, which is essential when trading on the go. Additionally, you can trade indices, forex, digital currencies, and more. All financial products, including stocks, can be traded free of charge. FXCM’s spreads are also quite competitive in our opinion. Leverage options are also accessible on the platform, which can reach 1:400. This implies that with an account balance of $200, you can initiate positions for $80,000.
Minimum investments start at $50, making them perfect for low-stakes trades.
5. Tick Mill
Tickmill is authorized by FCA, which provides access to a wide range of trading assets such as forex, indices, commodities and cryptocurrencies thanks to a collaboration with MetaTrader, one of the largest third-party brokerage firms in the world.
This service provider supports both MetaTrader 4 and MetaTrader 5. Due to their extensive charting capabilities, simple and user-friendly design, adjustable layouts and mobile accessibility, they are two great trading interfaces. trading used by both novices and pros.
Both Meta Trader software are available for Android and iOS smartphones and are easy to install. For example, MT5 has 38 separate technical indicators, signal and copy trading tools, and a financial calendar.
Tickmill offers three account types for forex and CFD trading. The classic account costs zero commission on each trade and spreads start at 1.6 pips for EUR/USD. Additionally, the minimum investment required to open an account is 100 GBP. Users have the choice of making deposits with a credit or debit card, wire transfer or Skrill, and there are no transaction fees with this service.
Stock trading apps are becoming extremely popular among South Africans who want to take their financial plans to the next level. This is because they allow you to enter or exit a position with one click, wherever you are. You will also have access to news updates and price alerts.
Choosing a stock trading program that suits your requirements is the most difficult aspect. According to our comprehensive survey of the best stock apps in South Africa, Libertex verifies the majority of the criteria. You will be able to buy or trade over 3,000 stocks on seventeen global markets, all free of charge. You will also benefit from a high regulatory position and a plethora of payment methods on offer.