Best Cryptocurrency CFD Brokers and Platforms in South Africa
Cryptocurrency trading has gained immense popularity in South Africa. Citizens are taking an active interest in it. Here is when the role of brokers come in. South Africa has already deemed trading cryptocurrencies as legal within the country even if most of the cryptocurrency brokers remain unregulated. According to the taxation laws of South Africa, income from cryptocurrency trading is also subject to the general taxation norms. Therefore, when choosing a cryptocurrency broker in South Africa it is best to go by popularity.
Overview: Crypto CFD Broker and Platform Comparison Table
| *Note: CFDs carry Risk. 73-89% of traders lose |
| Broker/Platform | Website | Regulation | Cryptos | Max. Crypto Leverage | Min Deposit | Demo |
|---|---|---|---|---|---|---|
 |
Visit Broker* Avatrade Review |
FSCA and others  |
Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash, Monero, NEO, IOTA, Zcash, Qtum. | 1:20 | $ 100 | Yes |
 |
Visit CFD platform* Plus500 Review CFD Service. Your capital is at risk |
FSCA/ASIC |
Bitcoin CFD, Litecoin CFD, Ethereum CFD, Ripple CFD, Bitcoin Cash CFD, IOTA CFD | 1:2 |
$ 100 |
Yes |
 |
Visit Broker* CMTrading Review |
FSCA |
Bitcoin, Litecoin, Ripple, Ethereum | 1:5 | $ 250 | Yes |
 |
Visit Broker* IQ Option Review |
 |
>13 major cryptocurrencies |
1:5 |
$ 10 |
Yes |
 |
Visit Broker* Markets.com Review |
FSCA, CySEC |
Bitcoin, DASH, Ethereum, Litecoin, Ripple, Bitcoin Futures | 1:5 | $ 100 | Yes |
 |
Visit Broker* BDSwiss Review |
CySEC and others |
Bitcoin, Ethereum and Litecoin | 1:5 | $ 200 | Yes |
#1 AvaTrade
Overview:
- Available Cryptocurrencies – Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash, Monero, NEO, IOTA, Zcash, Qtum.
- Minimum Deposit - $100 (T&Cs apply)
- Max. Crypto Leverage - 1:20
- Regulated by – FSB in South Africa - and others
- Demo Account: Yes
AvaTrade has also joined the list of cryptocurrency exchanges and is making a remarkable job out of it. When it comes to cryptocurrency trading, AvaTrade offers Bitcoin, Ethereum, Ripple, Dash, Litecoin, Monero, NEO, IOTA, Zcash and Qtum to their clients. The clients of AvaTrade can start trading cryptocurrencies by investing as low as $100. The broker is known to offer competitive swap rates. The leverage offered by the online broker can range as high as 20:1. The traders can trade Bitcoin, Bitcoin Cash, Litecoinand Ethereum on the MT4 platform provided by AvaTradeand the AvaTradeGO app. The customer service team is open to all queries all day long and the platform of AvaTrade supports a whopping total of 14 languages. Therefore, the South African cryptocurrency traders will have no problem following the website. The assistance team of the broker guides the neophytes in every step of trading.
Note: Your capital is at risk
#2 Plus500
Overview:
- Available Cryptocurrencies CFDs: Bitcoin CFD, Litecoin CFD, Ethereum CFD, Ripple CFD, Bitcoin Cash CFD, IOTA CFD and others CFDs...
- Minimum Deposit: $100
- Maximum Leverage: 1:2 (T&C Apply)
- Regulated by: ASIC/FSP in South Africa
- Demo Account: Yes
Plus500AU Pty Ltd is licensed by ASIC in Australia (AFSL #417727), FMA in New Zealand (FSP #486026), Authorised Financial Services Provider in South Africa (FSP #47546) and offers Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash and IOTA for trading in South Africa. The South African cryptocurrency traders can choose to trade the crypto coins at any time 24/7 except for on hour on Sundays. The broker does not charge any commission and the leverage offered is up to 1:30. It depends on the tradable asset and the market situation. Plus500 has a negative balance protection in place and all the transaction records are SSL (secured socket layer) encrypted. The propietary software program of Plus500 has an intuitive and user-friendly interface. The cryptocurrency broker allows the traders to easily swap from demo account to real account. This helps in testing a strategy and immediately using it in the live trading arena. This is extremely helpful as the market of cryptocurrency is highly volatile. The minimum amount a trader has to pay to start trading through a real cryptocurrency account in Plus500 is $100 only.
Note: CFD Service. Your capital is at risk
#3 CM Trading
Overview:
- Best Broker in Africa (4 years in a row)
- Available Cryptocurrencies: Bitcoin, Litecoin, Ripple, Ethereum
- Minimum deposit: 250$
- Maximum Crypto Leverage: 1:5 (T&Cs apply)
- Regulated by: Financial Services Board (FSB)
- Demo Account: Yes
As cryptocurrency has gained popularity worldwide, CM Trading, headquartered at Johannesburg has also joined the league. CM Trading is regulated by Financial Services Board or FSB of South Africa. Thus, the cryptocurrency traders from the country need not worry about it being a scam or about security. The broker offers Bitcoin, Litecoin and other top ranking cryptocurrencies for trading. CM Trading claims to have comparatively lower transaction fees and the traders can access their funds by simply using their digital key. The funds stored as a virtual currency cannot be limited by any entity or frozen unlike traditional currency. CM Trading has made it to the top 6 list of brokers in South Africa due to its easy accessibility features. There is also almost nil chance of being a victim to frauds as a transaction done using a crypto coin cannot be reversed. CM Trading allows the cryptocurrency traders to have total custody of their deposits as it involves a P2P network structure. Therefore, with CM Trading the trader can engage smart contracts without dealing with any intermediaries.
Note: Your capital is at risk
#4 IQ Option
Overview:
- Available Cryptocurrencies : 13 major cryptocurrencies and 20+ cross-pairs
- Minimum Deposit: $10 for crypto-CFDs
- Max. Crypto Leverage: Cryptocurrencies- 1:5 (T&Cs apply)
- Regulated by : CySec
- Demo Account: Yes
IQ Option is most popular as a Binary Options broker. However, the broker has rapidly gained popularity in South Africa as a safe haven for trading cryptocurrencies. The interface of IQ Option has won many accolades and is known for being intuitive. Its features allow easy navigation. The traders can invest in more than 15 cryptocurrencies like Bitcoin, Ethereum, Litecoin and other top cryptocurrencies through the trading platform of IQ Option. The broker has a two-step authentication process that helps in securing the trading accounts and transaction data of its clients. The company offers customer support 24x7 and the traders can choose any of the 16 languages as per their convenience. The clients can also buy real cryptocurrencies and select to store their funds in the account created at the crypto exchange or can transfer them to their own cryptocurrency wallet. The cryptocurrency traders can choose to withdraw funds in traditional currency through Visa, Mastercard or other mediums accepted by the broker. The broker company, IQ Option is regulated by CySEC even if there is no such separate cryptocurrency regulatory body for South Africa till now.
Note: Your capital is at risk
#5 Markets.com
Overview:
- Available Cryptocurrencies: Bitcoin, DASH, Ethereum, Litecoin, Ripple, Bitcoin Futures
- Minimum Deposit: $100
- Maximum Crypto Leverage: 1:5 (T&Cs apply)
- Regulated by: CySEC, FSB
- Demo Account: Yes
Markets.com is popular as a forex/CFDs broker as well as a cryptocurrency broker. Even though cryptocurrency is relatively new to the other financial markets, its incredible growth has captured the attention of several countries, South Africa being one of them. Markets.com thus offers Bitcoin Futures, Ripple, Ethereum and Litecoin for the South African cryptocurrency traders. The broker also offers cryptocurrency CFDs trading. The minimum deposit at Markets.com is $100 only and the trading platforms are MT4 and WebTrader. The company Markets.com is regulated by CySEC as well as FSB of South Africa. It takes every precautionary step to ensure safety of the clients’ trading accounts, personal data and transaction data.
Note: Your capital is at risk
#5 BDSwiss
Overview:
- Minimum deposit: $200
- Max. Crypto Leverage: 1:5 (T&Cs Apply)
- Tradable Assets: +200
- Regulated by CySec and others
- Demo Account: Yes
BDSwiss is a renowned cryptocurrency brokerage website that is regulated by CySEC and FSB in South Africa. The minimum deposit amount for trading cryptocurrencies is $200 while the leverage offered can be as high as 1:400. The leverage may vary depending on several factors like the market condition, crypto coin chosen by the trader and so on. BDSwiss offers three major cryptocurrencies to its clients for trading (Bitcoin, Ethereum and Litecoin). The lot size per position of these tradable assets range from 0.1 to 1. The education section of BDSwiss is a boon to the inexperienced traders as there are many articles that relate to cryptocurrency trading, chart reading techniques and so on.
The above-mentioned cryptocurrency brokers have designed apps for mobile trading and this has helped the South African cryptocurrency traders to enjoy the volatile market from any region at any point of time.
Note: Your capital is at risk
