Financial Independence South Africa for 2021

We found 11 online brokers that are appropriate for Trading South African Investment Platforms.

Financial Independence South Africa Guide

Updated February 26, 2021

Financial Independence in South Africa

Financial independence doesn't necessarily imply being wealthy. This means that your material possessions are not necessarily more important than your earnings or your savings.

Many young South Africans do not even begin to consider retirement until they are over 60. If early retirement is a goal that appeals to you, it's worth discovering precisely what this means in practice. This step-by-step guide to retiring early summarises the crucial things you'll need to consider and how to manage them. We'll flag the pitfalls to avoid and the opportunities to keep an eye out for. We'll also show you how to judge your final personal retirement income - regardless of your current age.

New Generations of South Africans

Unlike the previous generation, millennials are no longer willing to wait their whole life for a lump some of money they may never get to see or will be too old to enjoy when they retire.

Many fiscal self-help books supply the basic knowledge of combining comfortable living with maximizing earnings from investments to attain financial freedom. It is based on a very simple concept: leverage savings by discovering ways to boost earnings and/or reduce expenses.

Nearly every actuary and financial advisor will motivate you to spend less and save to retire. A crucial advice would be to look at the replacement ratio, which tells you exactly what proportion of your final working salary could be substituted using a pension at retirement.

As an example, a replacement ratio of 50% means the retirement sum you get at retirement will probably be about half of your past working salary.

Financial Reality for South Africans

Regrettably, this is but a pipedream for many South Africans. Only around 6-8 percent of the nation's inhabitants able to retire (using a replacement threshold of approximately 60-70percent).

It becomes even more worrying once you think that life expectancy is growing, and so the huge majority of South Africans will need to rely on friends, family members, and the country to live out their old age.

In light of this, the American client encounter futurist Blake Morgan, has identified the FIRE concept motivating millennials to 'appreciate life relationships and experiences rather than possessions.'

It is no surprise then millennials are ready to forfeit material possessions to be able to retire within their mid-40s and live a more purposeful life, instead of pushing themselves for the hope of getting a comfortable retirement life that might never happen.

FIRE is attained with up to 50 percent or even more of your earnings -- much more than the typical 10%-20% participation rate.

  1. Identify if you would like to retire, then compute how much you'll have to save to reach your retirement goals.
  2. Slash expenses

Sit Yourself Down and Evaluate Each Expenditure:

Would you want a large, gas-guzzling, or brassy vehicle?

How near work do you reside? Can you live nearer and cycle or walk?

Rethink lightning-fast line rates and uncapped data packages in your home -- how much Netflix can you watch? Could you also use cheaper alternative programs for entertainment?

Is eating outside or getting take-aways a part of your routine? Save it for special days and learn how to cook!

Do you buy new clothing every season? Not anymore. Go minimalist or purchase second-hand clothing.

However, as the adage goes, 'with fantastic sacrifice comes great benefit'. If you are seriously interested in forgoing frivolities to get the maximum benefits from life, here is what you have to do.

Increase Your Fiscal Savvy

Naicker said you would be surprised at just how much you can save simply by educating yourself about financing and making some wise choices:

Consistently review and review your budget -- there is always something you'll be able to cut back on.

Prevent all kinds of debt; brief - and long term. Meaning no loans and certainly no using of credit cards, however enticing those rewards programs might appear.

Get expert advice. Money things could be intimidating, so don't be reluctant to engage a certified and reliable professional for assistance.

Now that you've got less cash to dismiss on unnecessary eating parties and more, you will have a lot more time on your handsx.

How FIRE Functions

FIRE is achieved through competitive saving, a lot more than the conventional 10-15% generally suggested by financial planners.

Assuming continuous expenses, income, and falling investment yields, note that:

With a reduction rate of 10 percent, it requires (1-0.1)/0.1 = 9 decades of work to conserve for one-year-old living expenses.

With a savings rate of 25 percent, it requires (1-0.25)/0.25 = 3 decades of work to spare for one-year-old living expenses.

With a savings rate of 50 percent, it requires (1-0.5)/ / 0.5 = 1 year old job to spare for 1 year old living expenses.

With a savings rate of 75 percent, it requires (1-0.75)/0.75 = 0.33 decades of work to conserve for one-year-old living expenses.

The opportunity to retire reduces significantly as saving rates are raised. For all those pursuing FIRE, the purpose is to conserve 50 percent or even more of your earnings. With a 75% savings rate, it might take under ten decades of work to collect 25 times the average yearly living expenses, based on the 4 percent secure withdrawal' rule.

The idea behind FIRE is to motivate us to alter our severe fiscal defects that South Africans, specifically, grapple with. South Africans tend to over-spend on unnecessary things, not save enough, and begin to think about their retirement when its too late.

Sygnia's head of asset allocation Kyle Hulet explained that, 'I would love to take these favorable components from FIRE and combine it with exactly what I ardently believe is a far more sustainable and sensible economies plan for millennial: ICE -- Boost contributions efficiently.'.

It is definitely far simpler and less of a sacrifice to do that by educating yourself about investment and beginning to save when possible.

Above all, save through successful ways, for example, through tax-free or tax-efficient funds along with other low-cost goods. Substantial fees are more likely to eat away at your profits which would be unfavourable for your retirement plan.

Contrary to the intense FIRE method, ICE will enable you to conserve well and revel in your life. Regardless of which method you decide to follow to build up your retirement, you should continue researching to learn new abilities and to fast track your wages (and your own retirement savings) accordingly.

We've collected thousands of datapoints and written a guide to help you find the best Financial Independence 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 South African Investment platforms below. You can go straight to the broker list here.

Reputable Financial Independence South Africa Checklist

There are a number of important factors to consider when picking an online South African Investment Platforms trading brokerage.

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 South African Investment Platforms.

We compare these features to make it easier for you to make a more informed choice.

Top 15 South African Investment Platforms of 2021 compared

Here are the top South African Investment Platforms.

Compare South African Investment Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are South African Investment platforms. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more South African Investment platforms that accept South African Investment platforms clients

Broker eToro IC Markets XTB FP Markets Roboforex Trading212 Plus500 Pepperstone EasyMarkets XM FXPrimus
Rating
Regulation Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), 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, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) 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 Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)
Min Deposit 200 200 No minimum deposit 100 1 1 100 200 100 5 100
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 17,000,000+ 180,000+ 250,000+ 10,000+ 10,000+ 14,000,000+ 15,500+ 10,000+ 142,500+ 70,000+ 10,000+
Benefits
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
Accounts
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • Raw Spread account
  • Islamic account
  • Pro account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • Zero spread account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
etoro
Sign Up with
icmarkets
Sign Up with
xtb
Sign Up with
fpmarkets
Sign Up with
roboforex
Sign Up with
trading212
Sign Up with
plus500
Sign Up with
pepperstone
Sign Up with
easymarkets
Sign Up with
xm
Sign Up with
fxprimus
Risk Warning 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 79% 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. Losses can exceed deposits Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. 76.4% 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. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 Your capital is at risk Your capital is at risk Losses can exceed deposits
Demo eToro
Demo
IC Markets
Demo
XTB
Demo
FP Markets
Demo
Roboforex
Demo
Trading 212
Demo
Plus500
Demo
Pepperstone
Demo
easyMarkets
Demo
XM
Demo
FXPrimus
Demo
Excluded Countries IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA US, IN, PK, BD, NG , ID, BE US, JP, NZ US, JP US MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE BR, KR, IR, IQ, SY, JP, US US US, CA, IL, KR, IR, MM, CU, SD, SY AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC.

All South African Investment platforms in more detail

You can compare South African Investment Platforms 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 South African Investment Platforms for 2021 article further below. You can see it now by clicking here

We have listed top South African Investment platforms below.

Financial Independence South Africa List

eToro
(4/5)
Min deposit : 200
eToro was established in 2007 and is used by over 17000000+ traders. 67% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). Cryptocurrency availability with eToro is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)
IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 250000+ traders. 79% 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. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by 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, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
Roboforex
(4/5)
Min deposit : 1
Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
Trading212
(4/5)
Min deposit : 1
Trading 212 was established in 2006 and is used by over 14000000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. Trading 212 offers Stocks, Forex, Commodities, Indices.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
Plus500
(4/5)
Min deposit : 100
Plus500 was established in 2008 and is used by over 15500+ traders. 76.4% 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. Plus500 offers CFDs.


Plus500 offer a 100% Free and Unlimited Demo account No Deposit fees/Commissions No hidden fees Competitive fees Tight Spreads

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by 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
Pepperstone
(4/5)
Min deposit : 200
Pepperstone was established in 2010 and is used by over 10000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
EasyMarkets
(4/5)
Min deposit : 100
easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
XM
(4/5)
Min deposit : 5
XM was established in 2009 and is used by over 70000+ traders. Your capital is at risk XM offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
FXPrimus
(4/5)
Min deposit : 100
FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)