South African Bitcoin broker Guide
Best Bitcoin Trading Platform South Africa
Some African countries have embraced cryptocurrencies.
The most active is Bitcoin. Particularly in South Africa, the coin is extremely popular.
There are various reasons for its success and here we will discuss some of the important points as to why this is.
According to Google Trends, Nigeria ranks top in Bitcoin trading closely followed by South Africa.
This means traders In South Africa are looking for alternative investment options.
The reasons behind such an uptake of Bitcoin is the increased political turmoil and economic disbalance in the country.
In South Africa, people moved to trade in Bitcoin in 2017, pushed by the stepping down of the then finance minister amid certain controversial circumstances.
S&P then downgraded the South African currency debt to junk and this led to the kick start of cryptocurrency.
Now, which is the best Bitcoin trading platform South Africa is the big question.
It is important to note that in the same year, between January and November, there was a sharp spike, in the trading of Bitcoin on online trading platforms.
Regulatory Environment
Until now the South African Bitcoin market has been satisfactorily regulated.
The Reserve Bank has strictly taken a stand that Bitcoin will be considered just as a crypto asset and not a digital currency.
In January 2019 it released a paper suggesting some recommendations and guidelines for it.
The Reserve Bank asked business houses to register with South Africa's Financial Intelligence Centre if they would like to deal in Bitcoin.
According to the central bank, Bitcoin can fragment the country's monetary system if Bitcoin influences the supply and demand of real money.
The bank added further that such virtual currencies can increase scams and hence it will issue frequently the measures to note before dealing with Bitcoin.
Money laundering and financial terrorism are two of the negative aspects of virtual currency if it becomes popular.
Best Bitcoin trading platform South Africa
Users buy the virtual currency from an exchange and it is important to deal with the a Bitcoin trading platform in South Africa that provides a wallet to store the currencies.
If you do not want to purchase through Bitcoin trading platforms in South Africa, traders buy the currency through dedicated ATMs by paying in the national currency.
However, it is to note that the fee structure is usually high when withdrawing, sometimes even to 10%.
Apart from all this, South Africa has allowed business outlets to accept Bitcoin.
Bitcoin trading South Africa Verdict
South Africa is one of the best places in the continent where Bitcoin is widely traded under a regulatory body.
Many South Africans are trading Bitcoin though online trading platforms.
It is important to understand trends and do proper research before investing and try to remain away from brokers that charge a high commission of fee.
Only trade with brokerages that are regulated.
We've collected thousands of datapoints and written a guide to help you find the best Bitcoin Trading South Africa for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best bitcoin trading south africa below. You can go straight to the broker list here.
Reputable South African Bitcoin broker Checklist
There are a number of important factors to consider when picking an online Bitcoin Trading South Africa trading brokerage.
- Check your South African Bitcoin broker has a history of at least 2 years.
- Check your South African Bitcoin broker has a reasonable sized customer support of at least 15.
- Does the South African Bitcoin broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- Check your South African Bitcoin broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- Does your South African Bitcoin broker have an international presence in multiple countries. This includes local seminar presentations and training.
- Make sure your South African Bitcoin broker can hire people from various locations in the world who can better communicate in your local language.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering Bitcoin Trading South Africa.
We compare these features to make it easier for you to make a more informed choice.
- Minimum deposit to open an account.
- Available funding methods for the below Bitcoin Trading South Africa.
- What you are able to trade with each brokerage.
- Trading Platforms offered by these brokers.
- Spread type (if applicable) for each brokerage.
- Customer support levels offered.
- We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.
Top 15 Bitcoin Trading South Africa of 2020 compared
Here are the top Bitcoin Trading South Africa.
Compare Bitcoin Trading South Africa min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are bitcoin trading south africa. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more bitcoin trading south africa that accept bitcoin trading south africa clients
| Broker |
eToro
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XTB
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Plus500
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EasyMarkets
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AvaTrade
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City Index
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Admiral
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SpreadEx
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FXPro
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Markets.com
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| Rating | ||||||||||
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) | Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of The Bahamas (SCB), Dubai Financial Services Authority (DFSA) | Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) |
| Min Deposit | 200 | No minimum deposit | 100 | 100 | 250 | 25 | 200 | 1 | 100 | 250 |
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| Used By | 12,000,000+ | 250,000+ | 15,500+ | 142,500+ | 200,000+ | 14,000+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ |
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| Platforms | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps |
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| Learn More |
Sign
Up with etoro |
Sign
Up with xtb |
Sign
Up with plus500 |
Sign
Up with easymarkets |
Sign
Up with avatrade |
Sign
Up with cityindex |
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Up with admiralmarkets |
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Up with spreadex |
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Up with fxpro |
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Up with marketscom |
| Risk Warning | 75% of retail investor accounts lose money when trading CFDs with this provider. | 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 80.5% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk | 79% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
| Demo |
eToro Demo |
XTB Demo |
Plus500 Demo |
easyMarkets Demo |
AvaTrade Demo |
City Index Demo |
Admiral Markets Demo |
SpreadEx Demo |
FXPro Demo |
Markets.com Demo |
| Excluded Countries | US, IR, KP, BE, CA, JP, SY, TR, IL, HK | US, IN, PK, BD, NG , ID, BE | BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO | US | BE, BR, KP, NZ, TR, US, CA, SG | US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW | US, CA, JP, SG, MY, JM, IR, TR | US, TR | US, IR, CA | AF, DZ, AS, AO, AU, BE, BA, BR, KH, CA, CN, CU, KR, GU, GY, HK, ID, IR, IQ, IL, JP, LA, MO, MY, MM, NZ, MP, PA, PG, PH, PR, RU, SG, KR, SD, SY, TW, TH, TR, UG, VI, VU, USA, VN, YE |
All Bitcoin trading south africa in more detail
You can compare Bitcoin Trading South Africa ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Bitcoin Trading South Africa for 2020 article further below. You can see it now by clicking here
We have listed top Bitcoin trading south africa below.
South African Bitcoin broker Table of Contents
- South African Bitcoin broker Explained
- 6 Factors to Consider when Choosing South African Bitcoin broker
- Are Your South African Bitcoin broker Trusted And Established?
- Are The South African Bitcoin broker World Leading?
- What are the South African Bitcoin broker Commissions and Fees?
- What are the South African Bitcoin broker Funding and Withdrawl Methods?
- Find South African Bitcoin broker with Round-the-clock support?
- Make sure the South African Bitcoin broker Offer Comprehensive Trader resources?
- Why do South African Bitcoin broker need to be regulated?
- South African Bitcoin broker FAQ
- What are the best Bitcoin trading south africa brokers?
- What is the best Bitcoin trading south africa broker?
- Related South African Bitcoin broker Reviews
- Related South African Bitcoin broker Alternatives
- Related South African Bitcoin broker Comparisons
South African Bitcoin broker Explained
Trading the financial markets with South African Bitcoin broker when conditions are volatile can be difficult, even for experienced traders.
Apart from the educational and other resources made available online, another important factor for traders to consider when looking for South African Bitcoin broker is the platform that a South African Bitcoin broker offer.
Choose South African Bitcoin broker that's at the forefront of innovation and generally considered an industry-leader.
To gain access to the financial markets, you'll need South African Bitcoin broker that you can rely on.
6 Factors to Consider when Choosing South African Bitcoin broker
Follow these five rules for selecting a broker that's right for you:
Are Your South African Bitcoin broker Trusted And Established?
Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The top rated South African Bitcoin broker broker is eToro. Established in 2006, and in operation for 12 years eToro have a head office in Cyprus, UK.
eToro is regulated. This means eToro are supervised by and is checked for conduct by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
Another top rated broker is XTB.
XTB was established 2002, and in operation for 16 years XTB have a head office in Poland.
XTB is regulated. This means XTB are supervised by and is checked for conduct by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
| Broker |
eToro
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XTB
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Plus500
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EasyMarkets
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AvaTrade
|
City Index
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| Year Established | 2006 | 2002 | 2008 | 2001 | 2006 | 1983 |
| Head Office | Cyprus, UK | Poland | Israel | Cyprus, Australia | The British Virgin Islands | UK |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) | Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) |
| Used By | 12,000,000+ | 250,000+ | 15,500+ | 142,500+ | 200,000+ | 14,000+ |
| Negative balance protection | No | Yes | Yes | Yes | No | Yes |
| Guaranteed Stop Loss | No | No | No | Yes | No | Yes |
| Learn More | Visit eToro | Visit XTB | Visit Plus500 | Visit easyMarkets | Visit AvaTrade | Visit City Index |
| Risk Warning | 75% of retail investor accounts lose money when trading CFDs with this provider. | 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 80.5% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk | 79% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider |
Are The South African Bitcoin broker World Leading?
Choose a broker that's at the forefront of innovation and generally considered an industry-leader. eToro Segregates clients funds and offers over 100 instruments. eToro offers both an online trading platform as well as a mobile platform giving clients easy access to markets.
In addition, eToro supports many popular third-party trading platforms enabling access to a variety of markets worldwide that can be traded with the assistance of expert advisors or a customizable automatic trading strategy. eToro is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for South African Bitcoin broker is XTB . XTB Segregates clients funds and offers over 1,500 instruments.
| Broker |
eToro
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XTB
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Plus500
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EasyMarkets
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AvaTrade
|
City Index
|
| Instruments Available | 100 | 1,500 | 2,000 | 200 | 250 | 12,500 |
| Platforms | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps |
| Excluded Countries | US, IR, KP, BE, CA, JP, SY, TR, IL, HK | US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR | BE, US, CA ,CN, SG, ID, PH | US | BE, BR, KP, NZ, TR, US, CA, SG | US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW |
| Forex pairs offered | 50 | 50 | 100 | 150 | 80 | 100 |
| Forex pairs offered | 50 | 50 | 100 | 150 | 80 | 100 |
| Major forex pairs | Yes | Yes | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes | Yes | Yes | Yes |
| Cryptocurrencies | Yes | Yes | Yes | Yes | Yes | Yes |
| Commodities Offered | 0 | 21 | 17 | 12 | 16 | 26 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes | Yes | Yes | Yes |
| Stocks Offered | 957 | 1696 | 1816 | 52 | 99 | 4500 |
| UK Shares | Yes | Yes | Yes | Yes | Yes | Yes |
| US Shares | Yes | Yes | Yes | Yes | Yes | Yes |
| German Shares | Yes | Yes | Yes | Yes | Yes | Yes |
| Japanese Shares | Yes | Yes | Yes | Yes | Yes | Yes |
What are the South African Bitcoin broker Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated South African Bitcoin broker broker eToro offers competitive offers for Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency. eToro minimum deposit is 200.
Another top rated South African Bitcoin broker broker XTB offers Forex, CFDs, Cryptocurrency. XTB minimum deposit is 0.
| Broker |
eToro
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XTB
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Plus500
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EasyMarkets
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AvaTrade
|
City Index
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| Min Deposit | 200 | 0 | 100 | 100 | 250 | 25 |
| Withdrawl Fees | Yes | varies | No | No | No | Varies |
| Inactivity Fees | Yes | No | Yes | No | No | Yes |
| Deposit Fees | No | No | No | No | No | Varies |
| CFD Commission Fees | No | Yes | No | No | No | 0.0015 |
What are the South African Bitcoin broker Funding and Withdrawal Methods?
When dealing with South African Bitcoin broker having convenient funding and withdrawl facilities makes the trading process and your trading experience smoother.
| Broker |
eToro
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XTB
|
Plus500
|
EasyMarkets
|
AvaTrade
|
City Index
|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes |
| Paypal | Yes | Yes | Yes | No | Yes | Yes |
| Skrill | Yes | Yes | Yes | Yes | No | No |
| Payoneer | Yes | Yes | No | No | Yes | Yes |
| Neteller | Yes | Yes | No | Yes | Yes | No |
Find South African Bitcoin broker with Round-the-clock support?
Customer service is very important when dealing with South African Bitcoin broker.
When investing and dealing with brokers customer support can be a range of customer services to assist customers in making cost effective and correct use the brokers services. It can include assistance in installation, training, troubleshooting, upgrading, and cancelation of a product or service.
South African Bitcoin broker customer support can include Phone answering services, Live chat support and Email customer service support.
eToro support a wide range of languages including English, German, Spanish, French, and Italian
XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
eToro and XTB offer support where clients are able to call or contact the helpdesk via email or a chat service.
| Broker |
eToro
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XTB
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Plus500
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EasyMarkets
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AvaTrade
|
City Index
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| Support |
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| Languages | English, German, Spanish, French, and Italian | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | English, French, Italian, Spanish, Portuguese, German, Dutch, Polish, Arabic, Hebrew, Danish, Norwegian, Czech, Slovak, Bulgarian and Chinese | English, German, Arabic, Chinese, Spanish and Polish | English, Italian, German, French, Greek, and Hebrew | English, Spanish, German, Arabic, Polish, and Chinese |
| Learn More | Visit eToro | Visit XTB | Visit Plus500 | Visit easyMarkets | Visit AvaTrade | Visit City Index |
| Risk Warning | 75% of retail investor accounts lose money when trading CFDs with this provider. | 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 80.5% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk | 79% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider |
Make sure the South African Bitcoin broker Offer Comprehensive Trader resources?
Make sure your broker offers free resources like analysis, education and risk-management tools. With a wealth of knowledge from top analysts, eToro and XTB work together to bring the latest news and insights to traders.
For most traders, the first – and sometimes only – concern is pursuing their 'edge'. While that is surely important, along with sound money management habits, to navigating the markets; that step alone does not represent the full preparation. As each trader dives into this important venture, it is important not to forget the most rudimentary yet crucial steps such as selecting the best broker to access the markets.
Why do South African Bitcoin broker need to be regulated?
A regulated South African Bitcoin broker broker lowers your risk.
Broker regulation protects consumers. Too little broker regulation can lead to poor services and possibly financial harm.
South African Bitcoin broker brokers are regulated to stop fraud. The agent's working capital and clients funded account have to be separated. This amounts to fraud if client money is used to conduct the business. Regulation is required to make sure this does not happen.
South African Bitcoin broker List
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account Islamic account VIP account