How to buy Bitcoin via brokers in South Africa
Bitcoin Brokers in South Africa
The two main ways to trade Bitcoin in South Africa are buying Bitcoin directly or trading Bitcoin CFDs (contracts for difference).
Spot Bitcoin Brokers
For people looking to buy physical (spot) Bitcoin via a brokerage, Fivewest offers an instant buy/sell tool that allows you to buy up to R1m in spot Bitcoin. This means that you will own the underlying and can either host the Bitcoin in your own wallet or via the Fivewest wallet
Fivewest offers traders:
- The best spot OTC bitcoin spreads
- Instant trading
- Fast settlement times (for withdrawals)
CFD Bitcoin Brokers
Trading Bitcoin CFDs allows you to speculate on price movements without owning the underlying asset. CFDs are offered by regulated forex/CFD brokers.
When comparing Bitcoin CFD brokers, look for regulation (FSCA, FCA etc), number of crypto CFD pairs offered, fees and spreads, platform features, and customer support.
Here is a useful list of the top CFD crypto trading platforms available to South African traders:
Commission-free trading platform with tight spreads, fast execution, live pricing, and free demo account.
- Live price updates & alerts for 3,700+ markets.
- 0% commission & no hidden fees.
- Tight spreads.
- Fast order execution.
- Free demo account.
Globally regulated CFD trading platform with no commissions, tight spreads, analytical tools, and leveraged trading.
- Global regulated fintech platform.
- 0% buy/sell commissions and tight spreads.
- Advanced free analytical trading tools.
- Leveraged trading - trade more with less capital.
Fast order execution on intuitive platforms supporting all strategies with advanced tools.
- Phenomenal order execution speeds.
- Support for all trading strategies & styles.
- Intuitive trading platforms with value-added tools.
Competitive spreads with popular MetaTrader suite and Islamic accounts.
- Competitive spreads.
- MetaTrader suite available.
- Swap-free/Islamic accounts provided.
- Ultra-low spreads/commissions, excellent liquidity, fast execution, and tools like Autochartist.
- Ultra-low spreads and affordable commissions.
- Excellent liquidity and rapid execution.
- Feature rich value-added tools like Autochartist and trading alert