South African Investing and Trading Platforms: What Actually Works in 2026

South Africa has no shortage of apps, platforms, and self-proclaimed brokers. For a beginner—or even an experienced retail investor—it can be difficult to separate marketing noise from platforms that genuinely work.

There are two ways to solve this problem:

1. Do extensive research yourself, test multiple platforms, and learn through trial and error; or

2. Grab a cup of coffee and learn from someone who has already used several of these platforms over a number of years.

This article follows the second approach.

I will walk you through investing and trading platforms I have personally used, explain how they work in practice, highlight their advantages and limitations, and—most importantly—focus on real-world issues like settlement times, withdrawals, and access to your money.

If you’re unsure how trading and investing differ in terms of risk, time horizon, and strategy, read Trading vs Investing: Understanding the Difference, Risks, and Trade-Offs.

I've spent years testing these platforms with real money, and in this article, I'll share what actually worked, what didn't, and what you need to know before depositing your first rand. We'll cover Luno, EasyEquities, FNB Share Investing, XM, VALR, and Interactive Brokers—platforms I've used extensively and can speak about from experience.

I have also used ABSA and PSG in the past, but my experience with them is more than five years old and no longer representative of how those platforms operate today. For that reason, they are excluded from this comparison.

Key Concepts You Need to Understand

Before comparing platforms, it is important to understand a few terms that repeatedly come up when investing and trading. Let's clarify these key concepts that will help you understand how these platforms work.

1. T+N Settlement Period

The "T+" notation refers to the number of business days between when you execute a trade (T = Transaction day or Trade date) and when it fully settles. Settlement means the cash from your sale is actually available in your account for withdrawal.

Why does this take so long?

When you sell shares, multiple parties need to verify and process the transaction. Trades must be matched, cleared, and confirmed between the exchange, custodians and clearing houses who need to update records. The broker must verify the trade, ensure the buyer has the funds, and officially transfer the legal ownership of the security. It's a legacy of the days when physical paper certificates had to be moved, but today it serves as a safety window to prevent fraud and errors. Cash and securities move through regulated payment and settlement systems.

This process is most common in traditional investments like equities, bonds, and unit trusts.

In contrast, crypto and CFD platforms often settle trades immediately because assets are either synthetic (CFDs) or recorded directly on a blockchain.

Different securities have different settlement periods:

• Equities (shares): T+3 (three business days)

• Money market instruments: T+1 (one business day)

• Cryptocurrencies: Immediate

Trading platforms designed purely for speculation (like crypto exchanges) often offer instant settlement because they control both sides of the transaction within their own ecosystem (blockchain).

2. Trading Instructions, Execution, and Market Orders

In the past, investing meant calling your broker, explaining what you wanted to buy or sell, what quantity and at what price. You'd specify either a limit price (the exact price you wanted) or accept the "open market price." The problem? By the time your broker received and acted on your instruction, the market price could have moved significantly. And you'd wait for them to execute your instruction.

Modern platforms have eliminated this friction. When you place a trade on your smartphone, it executes immediately at the current market price. The algorithms that power these platforms can process thousands of trades per second, ensuring you get the price you see on your screen.

Execution speed is no longer a competitive differentiator—it is the industry standard.

3. Trade Execution

Trade execution occurs when the broker successfully processes your order in the market.

Execution ≠ settlement.

Your trade can execute instantly, but settlement (and withdrawal eligibility) may still take several days depending on the asset class.

4. Withdrawal Processing

Withdrawals are where platforms truly differ.

Unlike instant trade execution, withdrawals still require human oversight and bank processing times. Here's the typical timeline for traditional equity investments:

1. Day 0: You submit a withdrawal request

2. Day 0-3: Your holdings are sold (if needed) and funds settle (T+3)

3. Day 4: Funds transfer to your bank account via EFT

The actual payment time depends on both banks involved, and in some cases bank charges in South Africa can also affect how much you ultimately receive. If the platform uses the same bank as you, you might receive funds the same day (often by 8 PM). Different banks can add 1-2 business days to the process.

Crypto and CFD platforms, on the other hand, often allow same-day or instant withdrawals, sometimes at an extra cost.

5. Cut-off Times

While you can execute trades anytime the market is open, withdrawal requests often have daily cut-off times. Submit your withdrawal before the cut-off, and it processes that day. Miss it, and you wait until the next business day.

Trade execution doesn't typically have cut-off times on modern platforms, especially for global markets. For example, you can trade US stocks on EasyEquities even during South African evening hours, as long as US markets are open.

If you’re still building your foundation and want a clearer understanding of how investing fits into long-term wealth creation, see Investment Fundamentals: Understanding the Basics of Building Wealth before choosing a platform.

Platform Reviews

Note on minimum deposits: Minimum deposit requirements matter more than many beginners realise. Some platforms allow you to start with almost nothing, while others effectively require higher starting capital due to account structures, funding methods, or minimum trade sizes. Each platform review below includes the practical minimum you need to get started.

Quick Comparison: Minimum Deposits

Before getting into detailed reviews, here's a quick overview of minimum deposit requirements:

*Varies by account type: Share Builder (R100), Share Investor (R200), Share Saver/TFSA (R300/month or R1,000 lump sum)

**Cash accounts have no minimum, but given deposit complexity, practical minimum is much higher.

Luno: Your Gateway to Crypto and Tokenized Stocks

What It Is: Luno is a household name for cryptocurrency trading in South Africa. Recently, they've expanded to offer "tokenized" global stocks, allowing you to buy fragments of companies like Apple or Google using crypto technology.

Supported Assets: Bitcoin, Ethereum, Solana, and other major cryptocurrencies, plus tokenized versions of global stocks.

Minimum Deposit: $10 (or ZAR equivalent, approximately R180-200) - making it accessible for beginners wanting to test the platform.

Deposits

• ABSA Pay: Instant deposit with 1.4% fee (R1.40 per R100). A R500 deposit costs R7 in fees, leaving R493 to invest.

• EFT (Standard Bank): Free, but takes up to 24-48 hours. From ABSA accounts, typically reflects within 24 hours.

Settlement Speed

Crypto sales settle instantly—your funds are immediately available in your trading account.

Withdrawals

• Standard withdrawal: Free. Cut-off time is 15:45 on weekdays.

  • ABSA users: Funds arrive around 8 PM same day

  • FNB users: Funds arrive next morning around 6 AM

  • Luno uses Standard Bank, so same-bank customers may see faster processing

• Express withdrawal: R20 fee, processes within 10 minutes, available 24/7 with no cut-off time

The Verdict

Limitations: Standard withdrawals and deposits require waiting until the next day unless you pay for express service.

Advantages: Same-day withdrawals (with ABSA), 24/7 express withdrawal option for emergencies, instant settlement on crypto trades.

Best for: Crypto investors and those wanting exposure to international stocks without complex offshore processes.

EasyEquities: The Most Accessible Entry Point

What It Is: EasyEquities is arguably the most popular choice for investing and trading platforms in South Africa because it's so user-friendly. EasyEquities democratized South African investing by removing minimum investment amounts and offering fractional shares. You can start with as little as R5.

What EasyEquities offers: EasyEquities is one of the most accessible investment platforms in South Africa. It caters to retail investors and provides access to:

• JSE-listed shares

• Offshore equities (US stocks)

• ETFs

• Unit trusts

• Tax-Free Savings Accounts (TFSA)

• Bonds

• BEE share schemes

Minimum Deposit: None (R0) - you can literally start with any amount, even R5. This is one of EasyEquities' biggest selling points.

Special Features

• Demo account: Practice trading with virtual money before risking real capital

• Fractional shares: Can't afford a single Naspers share at R3,000+? Buy 0.1 of a share for R300

• Educational resources: Built-in learning tools for beginners

Deposits

• EFT (ABSA): Free and instant if you bank with ABSA (EasyEquities uses ABSA). Other banks may take 1-2 business days.

Settlement Speed

T+5 for equities—this is longer than the industry standard T+3, which can be frustrating if you need quick access to cash.

Withdrawals

• Cut-off time: 14:00 on weekdays

• Processing: Same-day payment to ABSA accounts (around 8 PM). Other banks may receive funds the next business day.

• Bucks Insights tip: Use EasyEquities' same-day settlement option after selling positions. While it costs a small fee, it's significantly cheaper and faster than waiting six days.

The Verdict

Limitations: Long T+5 settlement period, no advanced charting tools for technical traders, limited real-time data (prices are delayed by 15 minutes unless you pay).

Advantages: Extremely low barrier to entry, access to multiple asset classes, user-friendly interface, excellent for beginners, TFSA options for tax-efficient investing, very low fees.

Best for: First-time investors, anyone building a long-term portfolio, tax-free savings seekers.

FNB Share Investing: Banking and Investing in One App

What It Is: FNB customers can invest directly through their banking app, trading JSE-listed equities without opening a separate brokerage account.

Supported Assets: JSE-listed shares, ETFs, and Global ETNs (Exchange Traded Notes). The ETNs give you rand-based exposure to international companies like Netflix, Tesla, and Amazon without needing an offshore bank account.

Minimum Deposit: Varies by account type:

• Share Builder: R100 minimum (with R50 monthly fee)

• Share Investor: R200 minimum

• Share Saver/Tax-Free Shares: R300 per month recurring or R1,000 lump sum

Deposits

Instant—funds move between your FNB accounts within the same app with no transfer time.

Settlement Speed

T+3 for equities, which is the standard market settlement period.

Withdrawals

No traditional "withdrawal" needed since your investment account and bank accounts exist in the same ecosystem. Transfer funds between accounts instantly within the app—move money to your cheque account, credit card, savings account, or even your home loan to reduce interest.

Cut-off Time

Likely none for internal transfers since everything happens within FNB's infrastructure, though trade execution still depends on JSE trading hours (9:00 AM - 5:00 PM weekdays).

The Verdict

Limitations: Global exposure is limited to ETNs rather than direct share ownership, no advanced trading features, fewer charting tools compared to dedicated trading platforms.

Advantages: Seamless integration with your existing banking, instant fund transfers between accounts, no need for a separate platform, convenient for managing cash flow between investments and expenses, access to international companies in rands without offshore complexity.

Best for: FNB customers who want simple access to JSE stocks and international exposure through ETNs without managing multiple platforms, investors who value convenience over advanced features, those wanting global companies without offshore accounts. More on FNB Banking App Review.

VALR: Crypto Trading with a South African Focus

What It Is: A cryptocurrency exchange focused on the South African market, similar to Luno but with a more streamlined offering (no tokenized stocks).

Supported Assets: Major cryptocurrencies including Bitcoin, Ethereum, and various altcoins.

Minimum Deposit:

• No official minimum for ZAR deposits via EFT

• The practical minimum is driven by minimum trade sizes, which are generally very low (often the equivalent of a few rand)

Deposits

• Fiat (EFT): Standard bank transfer

• Crypto: Direct crypto deposits from external wallets

Settlement Speed

Instant—crypto sales reflect immediately in your trading account.

Withdrawals

• Cut-off time: 16:10 on weekdays, 09:35 on Saturdays

• Standard withdrawal: Free. Same-day payment to ABSA accounts (around 8 PM). FNB users receive funds next morning (around 6 AM).

• Instant withdrawal: Available 24/7 for a fee

• VALR uses Standard Bank for fiat transactions

The Verdict

Limitations: Withdrawal delays unless you pay for instant processing, crypto-only platform with no equity or tokenized stock options. Not very user-friendly when processing trades—they don't let you specify the amount of crypto you want to trade in ZAR terms; they express amounts in crypto terms which can be tricky to align exactly with the ZAR equivalent you want.

Advantages: Same-day standard withdrawals (with ABSA), 24/7 instant withdrawal option, competitive fees in the crypto space.

Best for: Crypto-focused traders who don't need access to traditional equities, South Africans seeking a Luno alternative.

Interactive Brokers: Global Access with Local Hassles

What It Is: One of the world's largest international brokers, offering access to stocks, options, futures, forex, and bonds across more than 150 markets globally. It is widely used by professional and institutional investors (big guys like banks, pension and retirement funds).

Supported Assets: US stocks, European stocks, Asian stocks, options, futures, forex, bonds—essentially everything except JSE-listed securities.

Minimum Deposit:

• Standard Cash Account: $0 (no minimum)

• Practical reality: While technically no minimum for cash accounts, you'll need several thousand rand to make international investing worthwhile given the deposit complexity and fees

The Deposit Problem

This is where Interactive Brokers becomes frustrating for South Africans. They don't have a South African bank account, so you can't simply EFT funds to them. The workaround:

1. Sign up for an intermediary service like Wise (formerly TransferWise)

2. EFT rand to your Wise account

3. Convert ZAR to USD, GBP, or EUR in Wise

4. Transfer foreign currency from Wise to Interactive Brokers

5. Pay fees at each step, plus exchange rate spreads

Your final investment amount depends on the ZAR exchange rate at the time of conversion, and you'll lose 1-3% in various fees and spreads throughout this process.

Settlement Speed

T+1 for US stocks (Interactive Brokers follows US market standards, which moved from T+3 to T+2 in 2017 and to T+1 in 2024, though international transfers may still take longer).

Withdrawals

After your holdings settle, request a withdrawal. The process takes several days due to:

• Different time zones (their UK office operates on GMT, US office on EST)

• International banking verification requirements

• Currency conversion back to ZAR

• Transfer through intermediary services like Wise

Realistically, expect 5-7 business days from withdrawal request to ZAR in your South African bank account.

The Verdict

Limitations: Complex and expensive deposit process, difficult withdrawals, not South African-friendly, steep learning curve for beginners, minimum account balances may apply.

Advantages: True access to global markets without going through local brokers, professional-grade trading tools, competitive forex and margin rates, ability to trade options and futures.

Best for: Experienced investors with significant capital (R100,000+) who need direct access to international markets and advanced trading instruments. Not recommended for beginners or those making small, frequent deposits.

XM: The All-in-One International Trading Platform And The Speed King

What It Is: A global broker offering forex, commodities, crypto, indices, and international stocks—essentially every asset class except JSE-listed companies.

Supported Assets: Forex pairs, commodities (gold, oil, etc.), cryptocurrencies, stock indices (including JSE Top 40 as an index), US and European stocks, bonds.

Minimum Deposit: $20 USD (approximately R345-375 depending on exchange rate) - one of the lowest minimums among international brokers.

Deposits

Multiple options with no deposit fees:

• EFT: Standard bank transfer converted to USD

• Credit/debit card: Instant, like an online purchase

• Cryptocurrency: Direct crypto deposits

• E-wallets: Skrill, Neteller, and others

Deposits convert to USD based on the prevailing ZAR/USD exchange rate.

Settlement Speed

Instant—all trades settle immediately in your account, regardless of asset class.

Withdrawals

This is where XM shines:

• No cut-off time: Withdraw 24/7, including weekends

• Processing speed: Typically 10-30 minutes from request to ZAR in your bank account

• No fees: Free withdrawals to South African banks

You can literally wake up at 3 AM, request a withdrawal, and have the money in your account before you finish your coffee.

The Verdict

Limitations: No direct access to individual JSE shares (only the index), primarily designed for active traders rather than long-term investors, forex and CFD trading carries high risk.

Advantages: Fastest withdrawal process of any platform reviewed (minutes, not days), 24/7 availability, access to almost every global market, no deposit or withdrawal fees, instant settlement.

Best for: Active traders who need quick access to capital, forex and commodity traders, anyone who values the ability to move money in and out instantly.

Bucks Insights tip: Use the web browser platform rather than mobile. It's faster, clearer, and offers one-click trading for quick execution.

Choosing the Right Platform for Your Needs

The "best" platform depends entirely on what you're trying to achieve:

If you're a complete beginner: Start with EasyEquities. The low minimums, educational resources, and demo account make it ideal for learning without risking much capital.

If you primarily bank with FNB and want JSE exposure: Use FNB Share Investing for the convenience of having everything in one app.

If you're interested in cryptocurrency: Choose between Luno (if you also want tokenized international stocks) or VALR (if you prefer a streamlined crypto-only experience).

If you need regular access to your investment capital: XM offers the fastest withdrawals (minutes), followed by Luno with express withdrawal (10 minutes for R20), then EasyEquities and VALR (same-day with cut-offs).

If you're a serious investor with R100,000+ to deploy internationally: Consider Interactive Brokers despite the complexity, as you'll get access to global markets with professional tools. The setup hassle becomes worthwhile at higher investment amounts.

If you're an active trader: XM for forex/commodities/crypto, or EasyEquities for JSE shares with the same-day settlement option.

In Conclusion

The South African investment landscape has improved dramatically over the past decade. What once required phone calls to brokers, R10,000 minimum investments, and week-long settlement periods can now be done from your phone with R5 and instant execution.

That said, different platforms excel at different things. I maintain accounts on multiple platforms because each serves a specific purpose: EasyEquities for my JSE tax-free savings, Luno for crypto, and XM when I need to quickly access trading capital.

Start with one platform that matches your immediate needs and comfort level. As you gain experience and your strategy evolves, you can always expand to others. The important thing is to start—even if it's just R50 on EasyEquities' demo account.

The investment journey of a thousand kilometers begins with a single trade.