9 Top Places To Buy Shares Online in South Africa (Brokerage Fees & Ease Of Use)

Want to get started with investing in shares/stocks but not sure which online brokerage platform to use? You’re in the right place!

Since you can’t buy stocks/shares directly from the Johannesburg Stock Exchange, you’ll need to buy through a JSE authorized broker. Unfortunately, there’s no method to purchase shares without using a broker unless the company offers a direct stock purchase plan, (which is rare in South Africa.)

But don’t worry, brokerage fees are cheap these days, ranging from only 0.25% to 0.5% per trade. To help you decide on your online broker, I’ve researched 9 of the popular online trading platforms authorized by the JSE in South Africa, and I’ve laid them out with their brokerage fees, admin fees, and a link to where you can register.

Online Share Broker:Brokerage Fees: (per trade)Admin Fees: (per month)Email For More Info:Registration Link:
FNB, (First National Bank)0.50%R87shares@fnb.co.za[REGISTER]
Standard Bank0.40%R99securities@standardbank.co.za[REGISTER]
Absa Bank0.40%R75equities@absa.co.za[REGISTER]
Easy Equities0.25%R80 to R100helpme@easyequities.co.za[REGISTER]
Momentum Securities0.50%R42ms.cs@momentum.co.zaEmail ms.cs@momentum.co.za
Sanlam iTrade0.50%R50admin@sanlamitrade.co.za[REGISTER]
PSG Wealth0.90%R52 wealth@psg.co.za[REGISTER]
bpbernstein1.00%R30bpb@icon.co.za[REGISTER]
FFO Securities1.25%R30futures@ffos.co.za[REGISTER]
Johannesburg Stock Exchange approved brokers.

FNB First National Bank

I personally bank with FNB and it’s by far my preferred method of buying shares online because it keeps all my assets consolidated in a single account which makes it really easy to manage. FNB makes it extremely easy!

If you already have an FNB banking profile, all you’ll need to do is open a “share portfolio account” within your banking profile. You can do this inside the “My investments” tab withing your banking profile menu. I have more information on how to buy shares on FNB online platform here.

FNB also offers a seperate global trading account that gives you access to global stocks, this way you won’t be limited to South African companies only.

Key features:

  • Brokerage fee: 0.50%
  • Monthly account fee: R87
  • Can trade international stocks if you open “global trading account,) however minimum deposit of $10,000 or around R180,000 is recommended.)

How to register:

  • To open an account follow this link: shares.fnb.co.za
  • To find more information via email: shares@fnb.co.za

Standard Bank

If you bank with Standard bank you might want to look into this option. It’s always a great idea to have all your assets consolidated. The only drawback is their online trading platform seems a bit backdated, you’ll see what I mean if you click on the below registration link. However, they are pretty competitive with their brokerage fees at 0.40%.

Key features:

  • Brokerage fee: 0.40%
  • Monthly account fee: R99

How to register:

Absa Bank

If you bank with ABSA this might be the right option for you. They’re actually really competitive with their monthly account fee, however brokerage fee is pretty much on par with Standard Bank.

Key features:

  • Brokerage fee: 0.40%
  • Monthly account fee: R75
  • ABSA also offers a world trader account with a minimum deposit of $1000, or around R18,000.

How to register:

  • To open an account follow this link: absastockbrokers.co.za
  • To find more information via email: equities@absa.co.za

Easy Equities

I’ve personally used easy equities and they’re not too bad. Just a few drawbacks that put me off, if you would like to trade international stocks it takes forever to convert your rands into dollars. Took me 7+ days. By the time I had the dollars ready to trade I already missed my trading opportunity. Another drawback is you don’t have your assets consolidated into a single account, which is something you’ll get if you use your trade shares with your personal bank.

However that being said, a major plus is that you don’t have to register another account to be able to trade international stocks. Most banks in South Africa offer world wide stocks, however it requires another application. Another big benefit is the brokerage fees are extremely low, which is really competitive compared to the rest.

Key features:

  • Brokerage fee: 0.25%
  • Monthly account fee: R80 to R100
  • Access to international stocks without opening a different account and with no minimum deposit.

How to register:

Momentum Securities

Another bank in South Africa that offers share trading online. They have a competitive monthly account fee at only R42 per month, by far the lowest I’ve seen in South Africa. That being said, their online registration process seems nonexistent, which is disappointing to see from a major bank in 2020. So if you would like to register it’s going to be a bit of a manual process.

Key features:

  • Brokerage fee: 0.50%
  • Monthly account fee: R42

How to register:

  • To open an account follow this link: Email ms.cs@momentum.co.za or call 0115506270.

Sanlam iTrade

If you bank with Sanlam it might be worth staying with them, they have competitive monthly account fees and normal brokerage fees.

Key features:

  • Brokerage fee: 0.50%
  • Monthly account fee: R50
  • Option to open a global trading account with a minimum of R100,000 deposit.

How to register:

  • To open an account follow this link: sanlamitrade.co.za
  • To find more information via email: admin@sanlamitrade.co.za

PSG Wealth

Key features:

  • Brokerage fee: 0.90%
  • Monthly account fee: R52

How to register:

  • To open an account follow this link: psg.co.za
  • To find more information via email: wealth@psg.co.za

bpbernstein

Key features:

  • Brokerage fee: 1.00%
  • Monthly account fee: R30

How to register:

  • To open an account follow this link: bpbernstein.co.za
  • To find more information via email: bpb@icon.co.za

FFO Securities

Key features:

  • Brokerage fee: 1.25%
  • Monthly account fee: R30

How to register:

  • To open an account follow this link: ffos.co.za
  • To find more information via email: futures@ffos.co.za

Final Thoughts

Almost all banks in South Africa offer a means to buy shares, so if you’re unsure of where to buy your stocks from, keep it simple and buy them through your local bank. You really can’t go wrong!

If you have any questions about this topic or you feel I missed something, please feel free to leave a comment below and I’ll get back to you as soon as possible.

YOUR TURN: Have you ever bought shares from an online platform in South Africa? What did you like and what didn’t you like? Let us know your experiences below so that we can learn from each other.

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