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Best Cryptocurrency Trading Platform South Africa 2021 – Cheapest Platform Revealed

Cryptocurrencies like Bitcoin, Ethereum, and Litecoin were among the highest-performing assets in the world in 2020. Over the past few months, these blockchain-based digital currencies have continued to break records and claim their mantle as an alternative to traditional money.

If you’re interested in trading cryptocurrencies for a profit in South Africa, you’ll need a trustworthy and high-quality trading platform. In this guide, we’ll review the 5 best cryptocurrency trading platforms in South Africa for 2021.

Best Cryptocurrency Trading Platform South Africa List

Before we take a more in-depth look at the top crypto brokers, here’s the best cryptocurrency trading platform South Africa and some other good alternatives.

  • Capital.comBuy Cryptocurrencies with 0% Commission
  • AvaTradeTrade Cryptocurrency CFDs with Leverage
  • Plus500 Bitcoin CFD Trading Platform South Africa with High Leverage
  • XTB – Advanced Platforms for Crypto Trading
  • FXCM – Best Crypto Trading Research Tools

Best Cryptocurrency Trading Platforms in South Africa Reviewed

Trading cryptocurrencies profitably in South Africa requires having the right trading tools for the job. You also need a platform that can give you instant access to the crypto market, with minimal fees, plenty of assets to trade, and support when you need it.

So, let’s take a closer look at the 7 best cryptocurrency trading platforms in South Africa for 2021.

1. Capital.com – Buy Cryptocurrencies with 0% Commission

Capital.comCapital.com is a regulated CFD trading platform that is super popular with beginners. It takes just minutes to sign up and the minimum deposit stands at just $20. This means that you can start trading Bitcoin with an account balance of just 300 rands.

This top-rated platform specializes in CFD instruments – meaning that you can buy bitcoin and trade other cryptocurrencies without needing to worry about ownership or storage. Plus, you can go long or short on Bitcoin – depending on which way you think the markets will go.

Capital.com supports a wide range of Bitcoin instruments – covering both fiat-to-crypto and crypto-cross pairs. Regarding the former, you can trade Bitcoin against the US dollar – with spreads averaging just 0.20%. Other popular pairs containing Bitcoin include BTS/BTC, BTC/EUR, ADA/BTC, TRX/BTC, STEEM/BTC, and XEM/BTC.

capital.com bitcoin trading

Each of every Bitcoin pair supported by Capital.com can be traded on a commission-free basis.  Additionally, all Bitcoin markets can be traded with leverage – which is great if you want access to a larger amount of capital. Once you have opened an account with Capital.com – you might consider starting off with the demo account facility if this is your first time trading Bitcoin.

This allows you to experience real Bitcoin market conditions in a risk-free manner. When you are ready to start trading Bitcoin with real-world rands, you can deposit funds instantly with a debit/credit card or e-wallet. Capital.com is also great for beginners as it offers heaps of educational materials – including a mobile app that is dedicated to learning.

capital.com bitcoin trading

There is also a mobile app that allows you to trade Bitcoin on the move – which is available on both iOS and Android. Capital.com also offers other CFD asset classes – should you wish to diversify. This includes stocks, commodities, forex, and indices. Finally, Capital.com is authorized and regulated by the FCA and CySEC.

Pros:

  • Trade dozens of Bitcoin and cryptocurrency CFDs
  • Also supports stocks, indices, commodities, and forex
  • Educational app for new traders
  • AI assistant identifies your weak points
  • Trade ideas generated daily
  • Excellent charting and analysis interface
  • 100% commission free trading

Cons:

  • Cannot build custom trading strategies

71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

2. AvaTrade – Trade Cryptocurrency CFDs with Leverage

AvaTrade LogoAvaTrade is another top cryptocurrency trading platform in South Africa that offers CFD trading on the most widely traded cryptocurrencies. You can trade 13 different cryptos, plus a custom index that tracks the 10 most popular coins.

All cryptocurrency trades on AvaTrade are 100% commission-free. Spreads start at just 0.25% for Bitcoin and 0.35% for Ethereum, although they can be up to 2% for some less popular altcoins.The AvaTrade Webtrader platform

One of the biggest advantages to using AvaTrade is that this platform provides a lot of leverage. If you were looking to buy Bitcoin and then trade, you can trade on margin up to 25:1. You can trade Ethereum at 20:1, Litecoin and Ripple at 10:1, and all other cryptocurrency CFDs at 5:1. So, AvaTrade is a great option if you want to open large positions or multiple trades with only a small initial deposit.

AvaTrade offers several different trading platforms for you to choose between. The proprietary AvaTrade platform is available for web and mobile and includes dozens of technical studies, a news feed, and an economic calendar. More experienced traders can use MetaTrader 4 or 5 with AvaTrade to develop custom indicators or set up crypto signals.Trade idea suggestions on AvaTrade

AvaTrade even has a social network, called AvaSocial, that integrates with MetaTrader 4. It enables you to follow other traders, see what cryptocurrencies are getting the most interest from traders, and even copy the moves of professional cryptocurrency traders.AvaTrade AvaSocial App

AvaTrade is regulated by ASIC and South Africa’s Financial Services Board. The platform offers customer support 24/7 via phone, email, and live chat.

Pros

  • 100% commission-free CFD trading
  • Leverage up to 25:1 for Bitcoin trading
  • Supports MetaTrader 4 and 5
  • Includes a social networking app
  • 24/7 phone and chat support

Cons

  • High spreads for some altcoins
  • Limited selection of cryptocurrencies

Your capital is at risk.

3. Plus500 – Best Bitcoin Trading Platform South Africa for High Leverage

Plus500 LogoIf you’re looking to trade Bitcoin with leverage – then Plus500 is arguably the best platform for this. After all, the provider offers leverage of up to 1:30 on crypto markets. This means that you can turn a $200 account balance into Bitcoin trading capital of $6,000.

You do, of course, need to tread carefully when trading with such high levels of leverage. Nevertheless, Plus500 specializes in CFD instruments – much like Libertex. As such, this Bitcoin trading platform is best suited for shorter-term strategies. Once again, by trading Bitcoin CFDs, you can choose from a long or short position – meaning that Plus500 allows you to profit from rising and falling markets.

All financial instruments on the Plus500 platform – which also includes stocks, ETFs, commodities, forex, and indices – can be traded commission-free.  In most cases, you’ll find its dynamic spread system very competitive. For example, at the time of writing outside of standard market hours – you’ll pay a spread of just 0.29% on BTC/USD.

plus500 spreads review

Expect even better spreads as trading volume increases. In terms of tradable Bitcoin markets, Plus500 also supports a number of crypto-cross pairs – including ETH/BTC. We also like the Crypro 10 Index that Plus500 allows you to trade. This is a weighted CFD index that contains 10 of the most valuable cryptocurrencies in terms of market capitalization.

As such, this allows you to trade the wider crypto industry as opposed to focusing just on Bitcoin. Although Plus500 is a bit thin on the ground when it comes to technical analysis and fundamental news – it does offer several trading guides that might interest beginners. There is also an intuitive Plus500 trading app – which allows you to enter Bitcoin CFD positions while on the move.

plus500 bitcoin trading

When it comes to reputation, Plus500 is solid. It is regulated in a variety of marketplaces around the world. Through Plus500AU Pty Ltd, the platform is an Authorised Financial Services Provider #47546 in South Africa. Additionally, Plus500’s parent company is listed on the London Stock Exchange.

If you like the sound of what Plus500 offers for your Bitcoin trading needs, the minimum deposit is just $100. You can open an account in less than 5 minutes and the provider supports a variety of payment methods. This includes debit cards, credit cards, Paypal, and bank transfers. There is no fee to deposit or withdraw funds.

Pros:

  • A commission-free trading policy
  • Tight spreads on most markets
  • Leverage ratio of up to 1:30 on crypto assets
  • User friendly trading platform, available on web browsers and mobile phones
  • Plenty of features including risk management tools, price alerts and trader’s sentimen
  • Heavily regulated and listed on the London Stock Exchange

Cons:

  • Not a social trading platform
  • CFDs only

76.4% of retail CFD accounts lose money.

4. XTB – Advanced Platforms for Crypto Trading

XTB LogoXTB is one of the best South Africa crypto trading platforms for experienced traders. That’s thanks to the broker’s xStation trading platform, which offers a suite of highly advanced tools.Trade Crypto with XTBTo start, the platform is available for web, mobile, and desktop – so it’s easy to access no matter where you are during market hours. The platform includes several different chart styles and dozens of highly customisable technical indicators, so you can analyse price movements in extreme detail.XTB Trading Platform

In addition, xStation keeps your open orders and order form on the same window as your charts. For day trading cryptocurrency, that’s a big deal. It means that you can execute trades with as little delay as possible and easily keep track of how your positions are performing.XTB Order Entry

XTB also includes useful tools like a news feed and economic calendar. Traders get access to market research from the broker’s professional analysts, too, which can help you spot trading opportunities.

Trading with XTB is limited to just 9 cryptocurrencies, but you can trade an additional crypto CFD pairs that track altcoins relative to the price of Bitcoin and Ethereum. Trades are commission-free, but XTB’s spreads can be high – BTC trading spreads start at 1%. In addition, leverage is limited to 2:1 for all crypto CFD trades.

XTB is regulated by the UK’s FCA and the broker offers 24/7 customer support by phone, email, and live chat.

Pros

  • xStation platform is available as a desktop app
  • Highly customisable charting tools
  • Includes breaking news feed and analysis
  • Monitor charts and positions in the same window
  • 24/7 phone and chat support

Cons

  • Relatively high spreads for crypto CFDs
  • Leverage limited to 2:1

79% of retail investor accounts lose money when trading CFDs with this provider

5. FXCM – Best Crypto Trading Research Tools

FXCM LogoFXCM is one of the all-around best cryptocurrency brokers in South Africa. This trading service offers a wide range of platforms, top-notch research tools, and very competitive pricing.

When you trade with FXCM, you get to choose between several popular trading platforms. For example, you can integrate MetaTrader 4, Trading Station, TradingView, and Capitalise AI. Each of these platforms offers different ways to look at price movements, so having such a wide range of options is perfect for traders who really want to dive into technical analysis. FXCM also works with ZuluTrade, which adds a social trading network to this broker.FXCM Trading Station

On top of that, FXCM offers its own research and analysis tools. The broker has a market news feed and economic calendar, plus a volatility scanner that allows you to instantly see what assets are experiencing the biggest price fluctuations. FXCM also has a heatmap that allows you to easily visualize how top cryptocurrencies are moving over the day of trading.FXCM Crypto Price Change Heatmap

FXCM only offers 6 cryptocurrency CFDs, so it’s best suited for traders who want to focus on coins with high liquidity and a lot of market activity. Leverage is limited to 4:1 for all coins.

CFD trading with FXCM is 100% commission-free, and spreads for Bitcoin trading start as low as 0.06% – among the lowest spreads available in South Africa. However, spreads at FXCM are highly variable, so it can be hard to know how much your trade will cost ahead of time.

This platform is regulated by the UK’s FCA. Support is available by phone, email, and live chat 24/5.

Pros

  • Offers many top-tier trading platforms
  • Compatible with ZuluTrade social network
  • Volatility scanner and price heatmap
  • Incredibly low minimum spreads
  • 24/5 customer support

Cons

  • Spreads are highly variable
  • Only 6 cryptocurrencies to trade

Your capital is at risk.

How to Choose the Best Bitcoin Trading Platform for You

Choosing the best cryptocurrency trading platform is key to turning a profit from trading digital currency. The right platform can give you access to the markets you want to trade, help you identify potential trading setups, and keep your costs to a minimum.

So, what should you be looking for in order to decide which platform is right for you? There’s a lot to consider, so let’s dive into some of the most important features you need to know about.

Regulation

Knowing how a cryptocurrency trading platform is regulated certainly isn’t the most exciting part of choosing a platform. But it is among the most important parts of choosing the best cryptocurrency broker in South Africa.

Regulation ensures that your trading platform is working in your best interests. That means executing trades at the best possible price, eliminating delays that could hold up your trades, and eliminating hidden fees that could surprise you later.

All of the best crypto trading platforms we reviewed are regulated by a top-tier financial watchdog. In general, you should choose a trading platform that is regulated by the UK’s Financial Conduct Authority, the Australian Securities and Investments Commission, or the Cyprus Securities and Exchange Commission.

Assets

There are two things to consider when it comes to the types of crypto assets a trading platform gives you access to.

First, how many cryptocurrencies can you trade? If you only plan to trade Bitcoin, Ethereum, and a few other popular coins, this might not be an important factor in your choice of platform. However, if you want to trade lesser-known altcoins that might offer more volatility, then you should look carefully to find out exactly what cryptocurrencies are available.Capital.com Cryptocurrencies

Second, is a trading platform a CFD broker, a cryptocurrency exchange, or both? A CFD broker enables you to trade cryptocurrency CFDs, so you never take ownership of the underlying coin. A cryptocurrency exchange enables you to exchange fiat currency, like ZAR, for cryptocurrencies like Bitcoin.

Both allow you to speculate on the price of cryptocurrencies. CFD trading gives you more flexibility to short coins and trade with leverage, while an exchange might be better if you want to invest in a coin for the long term.

Fees

Trading fees can quickly eat into your profitability when trading cryptocurrencies. That’s why many of the top cryptocurrency trading platforms charge 0% in commissions and compete aggressively to offer the lowest spreads.

Ideally, you should look for a crypto trading platform that charges less than 0.5% per trade for Bitcoin CFDs. Many of the platforms we reviewed charge a spread of 0.35% or less, although the cost for trading altcoins is typically higher.

It’s also important to look at non-trading fees. Some CFD brokers charge deposit fees, withdrawal fees, inactivity fees, or rollover fees. These can add up surprisingly fast. So, it’s important to know what charges you’ll be on the hook for and how you can minimise them. Some of the best crypto trading platforms eliminate account fees altogether.

Trading Tools & Features

Your Bitcoin trading platform will be your primary resource for analysing price movements, spotting trade setups, and executing trades. It’s essential that whatever platform you choose has high-quality tools to give you a seamless and profitable trading experience.

To start, look at what platform you’ll use for charting and analysis. Many brokers offer their own proprietary web and mobile trading apps, while others offer highly popular platforms like MetaTrader 4. It’s not necessary to choose the most advanced platform, especially if you’re new to trading – it’s just as important that you can learn how to use whatever platform is available quickly.Capital.com BNT Trading

Other key tools for crypto trading include market news feeds, economic calendars, and visualizations of market-wide price data. Some platforms offer a market sentiment gauge, which can be useful for identifying changes in a coin’s price momentum.

If you are new to crypto trading, consider looking for a platform that offers social trading. That way, you can easily learn from more experienced traders, discover hot cryptocurrencies, and even copy the trades of professional day traders.

Liquidity

One important quirk of CFD trading is that the liquidity of a CFD rests with your broker, not with the underlying asset. So, it’s important to check how liquid cryptocurrency CFDs are – particularly for lesser-known altcoins – at a prospective platform.

In general, more liquidity is better. Look for price data to update rapidly and for orders to be filled nearly instantly. If your orders can’t be fulfilled because of low liquidity, that can potentially hurt your ability to trade and prevent you from profiting off of trades.

User Experience

While powerful trading tools and low fees are important, they don’t mean much if your trading platform is difficult to use. That’s why all of the best cryptocurrency trading platforms in South Africa have invested heavily in providing users with a seamless experience.

This starts with crafting web and mobile apps that are intuitive. Look for easily accessible customisation options and the ability to save sets of technical indicators as defaults for future use. In addition, you should have the option to change the layout of the whole trading platform to better suit your trading style.

Another aspect of the user experience to look for is how seamless trade execution is. You need to be quick on the trigger to trade cryptocurrency profitably. So, look for the ability to enter orders without leaving your charting interface.

Many of the top cryptocurrency trading platforms also invest in other aspects of the client experience. For example, you might find a library of educational tools to help you improve your trading. You might also get access to webinars or insights from professional analysts that aren’t available to anyone outside that broker’s clientele.

Mobile App

Trading on the go is increasingly important to how traders operate. So, it should come as little surprise that nearly all South Africa crypto trading platforms have a mobile app for iOS and Android devices.Download Capital.com App

The mobile app should offer all the same functionality as the web trading platform. That is, you should have the ability to display full-screen technical charts and overlay technical indicators. The mobile app should also include other trading tools like a news feed or social network.

One big thing to check about a platform’s mobile app is how order entry works. For some platforms, buying cryptocurrency on the go is seamless. For others, it can be a hassle to monitor orders and place trades compared to the web interface.

Payment Methods

Another thing to check when choosing a South Africa crypto trading platform is what payment methods you can use to fund your account. Most platforms accept transfers from a bank account or payment by debit card or credit card, so you can buy Bitcoin with a credit card. Some also enable you to use an e-wallet like you can buy bitcoin with PayPal or a mobile-friendly payment method like Apple Pay or Google Pay.

It’s also worth checking whether a platform requires a certain minimum deposit. Many do, although it’s typically 3,000 ZAR or less.

Customer Service

Customer service is easy to ignore, right up until the moment you need it. So, be sure to check what type of customer support a potential broker offers before signing up.

The best cryptocurrency trading platforms offer 24/7 support or close to it, since the cryptocurrency market itself operates around the clock. In addition, check whether you can get in touch right away by phone or live chat. Email is good, but it can take several hours to get answers to your questions.

How to Start Cryptocurrency Trading

Ready to start trading cryptocurrency in South Africa? We’ll walk you through how to get started with Capital.com, which is our pick for the overall best cryptocurrency broker South Africa.

That’s because Capital.com offers 0% commission crypto trades and dozens of top tokens to choose from.

Step 1: Open a Capital.com Account

The first step to trading with Capital.com is to register a new account. Head to the broker’s website or download the mobile app, and click or tap ‘Trade Now.’Register a Capital.com account (1)

Step 2: Verify Your Identity

Capital.com is regulated by the UK’s FCA, which requires all traders to verify their identity. You can complete this authentication step online simply by uploading a copy of a government-issued ID like your driver’s license or passport. You’ll also need to upload a proof of address, such as a recent utility bill or financial statement.

Step 3: Deposit Funds

Next, add funds to your new account. Capital.com requires a minimum deposit of $20 (300 ZAR) and you can pay by debit card, credit card, or bank transfer.Capital.com Deposit Funds (1)

Step 4: Start Trading Crypto

Now you’re ready to trade cryptocurrency on Capital.com. From your account dashboard, search for the coin you want to buy.

Once you find the cryptocurrency you want to trade, click on it and then click ‘Buy’ or ‘Sell’ to open an order form. Enter how much money you want to trade with, then enter a stop loss level and take profit level to manage your trading risk.Buy Dogecoin on Capital.com

When your trade is ready, click ‘Open Trade’ to execute your first crypto trade with Capital.com

Best Crypto Trading Platform South Africa – Conclusion

Finding the best cryptocurrency trading platform South Africa doesn’t have to be hard. With our reviews of the 5 top cryptocurrency trading platforms, you can start trading crypto for a profit with a service that perfectly fits your needs.

Ready to get started with the overall best cryptocurrency trading platform in South Africa? Click the link below to sign up for a Capital.com account today!

Capital.com – Best Cryptocurrency Trading Platform South Africa

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71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

FAQs

What are the most popular cryptocurrencies to trade?

The most popular cryptocurrency to trade is Bitcoin, followed by Ethereum, Litecoin, Bitcoin Cash, and Ripple.

Do I need a crypto wallet to trade cryptocurrencies?

If you want to buy cryptocurrency outright, you will need a digital wallet to store your coins. However, if you are trading cryptocurrency CFDs, you do not need a cryptocurrency wallet.

What are altcoins?

Altcoins, or ‘alternative coins,’ are any cryptocurrencies other than Bitcoin. Ethereum and Litecoin are considered altcoins even though they are widely used.

Do I need a cryptocurrency exchange to trade crypto in South Africa?

You need a cryptocurrency exchange if you want to purchase digital currency outright and hold the tokens in a digital wallet. However, if you want to trade on the prices of cryptocurrencies without holding the coins, you do not need an exchange.

Can I spend cryptocurrency?

If you own Bitcoin or other digital currencies outright, you can spend them at online stores that accept cryptocurrency for payment. However, you cannot spend crypto if you are trading CFDs since you do not own the underlying coins.

About Michael Graw PRO INVESTOR

Michael Graw is a freelance journalist based in Bellingham, Washington. He covers finance, trading, and technology. His work has been published on numerous high-profile websites that cover the intersection of markets, global news, and emerging tech.

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