5 Must-Have Stock Investing Apps in South Africa for Beginners

Getting started in online share trading can be an overwhelming task for beginners. However, there are a variety of apps designed specifically for beginners to help them get started in the world of stock investing.

In South Africa, there are a growing number of apps that allow investors to get started in the stock market conveniently and effectively.

In this article, we will look at the five best stock investing apps in South Africa that can help inexperienced investors achieve their financial goals.

The 5 Best Apps for Investing in Stocks in South Africa

The world of stock investing can often seem intimidating to beginners. Fortunately, there are plenty of apps available these days that make it easy and convenient to invest in stocks.

There are plenty of options for investors in South Africa to choose from. Here is our TOP of the five best apps for stock investing.

Brokstock

Brokstock is a user-friendly and intuitive stock investing app designed specifically for beginners. It offers many features, including real-time quotes, market news, and analytics.

With Brokstock, beginners can easily buy and sell stocks, manage their portfolios, and keep an eye on the market.

Interactive Brokers

Interactive Brokers is a popular app for advanced investors, but it also offers an interface that is very suitable for beginners.

The app provides access to various international markets and offers comprehensive tools and analytics for stock investing. Interactive Brokers features low fees and a lot of investment options.

Plus500

Plus500 is another popular option for stock investing in South Africa. It has a user-friendly interface and many trading options suitable for beginners. The platform opens access to CFDs on stocks, indexes, commodities, and even cryptocurrencies.

XTB

XTB is a renowned stock trading app. It offers trading instruments, including stocks, indexes, forex, and commodities. XTB stands out for its user-friendly interface, low fees, and comprehensive market research tools. The app also offers training materials and webinars for beginners.

Pepperstone

Pepperstone is a leading stock trading app that offers a user-friendly platform for investors. The app allows access to markets from all over the world and offers tight spreads and fast trade execution. Pepperstone also has advanced charting tools and technical analysis.

How to Get Started With Each App – Step-by-Step Guide for Beginners

Getting started with any stock investing app requires a few basic steps. Here’s a guide on how to do it:

1. Download and set up the app. Visit the app store and search for the app you want, whether it’s Brokstock or Pepperstone. Alternatively, download the app directly from the broker’s website. Install it on your mobile device. Open the app and follow the instructions to set up an account. Enter your personal information and create a username and a secure password.
2. Fund your account. Once your account is set up, you will need to fund your trading account. Select the appropriate option within the app to deposit money. The app will offer you different payment methods, such as bank transfers or credit cards. Choose the method that suits you best and follow the instructions to complete the deposit.
3. Place your first trading order. After you fund your account, you can place your first trade order. Use the search function within the app to search for specific stocks or securities. Once you find the security you want, select it and enter the amount you want to invest. Review all the details and click “Buy” or “Trade” to complete the order. Confirm the order when prompted.
4. Monitor and manage your portfolio. After you have completed your first trade order, it is important to monitor and manage your portfolio. The app will provide you with various tools and features to track the current market value of your investments, check real-time quotes, and get relevant news and analysis. Use these features to make informed decisions about your investments. Regularly review your portfolio and adjust it as needed.

It’s important to note that each app has its own specific features. Therefore, the exact steps and options may vary slightly depending on the app you choose. The steps above serve as a general guide, but make sure to familiarize yourself with the specific features and options of your chosen app.

With this step-by-step guide, beginners should have a good starting point for stock investing apps.

Take it step by step, take your time exploring the app’s features, and start with small investments as you build your knowledge and experience. Remember that investing involves risk and it is important to research carefully and make informed decisions.

How to Choose a Apps for Investing in Stocks in South Africa

When choosing an app for stock investing, beginners should consider the following factors:

• Ease of use. Choose an app that offers an intuitive and user-friendly interface. This will make it easier to get started and navigate within the app.
• Feature set. Review the app’s available features and tools. Make sure they meet your needs, including real-time quotes, market news, and analytics.
• Costs and fees. Compare the fees and commissions of the different apps. Make sure the costs are transparent and competitive.
• Reliability and security. Check the reputation and reliability of the app provider. Make sure the app ensures secure transactions and the protection of your personal data.
• Customer support. Check that the app offers reliable customer support that is available to help you with any questions or problems.

As you get more experience, you might start to require more things from the app, so be ready to switch to a different one if needed.

Final Thoughts

With the right apps, beginners can easily get into the stock market. Brokstock, Interactive Brokers, Plus500, XTB, and Pepperstone are some of the best apps for stock investing in South Africa.

Each app offers its own unique features and benefits, so beginners should consider their individual needs and preferences to choose the right app.

Start with an app that offers a user-friendly interface, comprehensive features, and affordable fees, and begin your journey into the world of stock investing.