How to choose a trading platform

Online trading has experienced a huge expansion in recent years among South African citizens, thanks to the emergence of trading platforms that can be used by anyone from a simple computer. But the arrival of this new area has also led to the arrival of an increasing number of brokers. making it difficult to choose the investor. It must be said that all online trading platforms are in fierce competition to attract more and more new traders, establishing new features and tools or offering much more interesting promotions than the others. to help these new investors make the right choice.

The trading platforms of our comparison:

Of course, the trading platforms that we have chosen to include in this comparison obey several criteria, which are guarantees of their quality and seriousness.

All these platforms are authorized by the South African authorities, for example, which guarantees users a maximum level of security. All financial transactions, be they your deposits, withdrawals or transactions, are completely secure and confidential.

These platforms were also selected for the quality of the instruments they offer and therefore for the commercial convenience of their users.

Detail of commercial instruments:

In this comparison, we will give great importance to the details that we will provide you on the different exchange trading instruments offered by brokers. In each tab of each platform, you will be able to see which are the investment products and accessible assets, whether they are stocks , indices, bonds , commodities or currencies .

You will then be able to make a decision based on the diversity of these assets and thus diversify your investment portfolio as best as possible, and this, in accordance with your investment wishes, needs and prospects.

Specific tools and functionalities:

While it may be tempting to choose one broker over another to take advantage of a promotion or sponsorship, you should keep in mind that the most important element of your choice should be the proposed trading platform.

While some brokers offer common solutions like the Metatrader platform, others offer in-house solutions with some quirks. It is essential that you feel comfortable with the trading interface.

To verify this point, the ideal is to test the platform when possible using a free demo account. Otherwise, brokers often present their platform to interested parties in the form of video tutorials.

You should check that the platform includes the tools you will need (charts, market information, spreads visualization, etc.) and that its use is fluid and ergonomic. Of course, it will favor the platforms that present all the information in English.

Spreads and other fees:

It is often said that brokers do not charge commissions, but are paid on the spreads practiced. Therefore, the level of these spreads is important when choosing your broker. Be careful with variable spreads and prefer fixed and guaranteed spreads.

Remember especially to compare the spreads practiced by various traders on the currency pairs and other financial assets that interest you. They are usually displayed in the form of tables.

Finally, before you start, check the reputation of the chosen broker by consulting the opinions of Internet users on specialized forums and sites like deriv.

Scroll to Top