Why is the brokerage industry so fragmented when it comes to which countries each platform serves? You have probably noticed one platform available in dozens of countries and a close competitor only available in a handful of regions.
Some attribute it to regulation, others to corporate choices. In the end, it’s often hard to know exactly why a platform is available in one country and not in another.
In this article, we look at eToro’s availability in South Africa and present solid alternatives for South African investors.
Is eToro available in South Africa?
Yes, eToro is available in South Africa. The platform started accepting South African clients in June 2022, after years of being unavailable in the country.
eToro doesn’t hold a licence from South Africa’s Financial Sector Conduct Authority (FSCA). When it launched in the country, it onboarded South African clients through its UK entity, regulated by the Financial Conduct Authority (FCA). eToro also has an international entity, eToro (Seychelles) Ltd, licensed by the Financial Services Authority Seychelles, according to its regulation page. Before opening an account, check which eToro entity you’ll be registered with, since that determines the investor protection that applies to you.
South African clients can invest in real stocks and ETFs, with ETFs at $0 commission and stocks at $1 per trade on most exchanges. Your account is in US dollars, so deposits in rand are converted, with a conversion fee, and withdrawals cost $5 (minimum $30).
eToro also keeps a list of countries it doesn’t serve, due to regulatory requirements and business decisions.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Best eToro alternatives in South Africa
Want to explore other options? These are the brokers we cover below:
Interactive Brokers
Founded in 1978, IBKR is one of the world’s most trusted brokers. It offers an enormous range of products (stocks, ETFs, options and more) and low currency conversion fees.
💡 Interactive Brokers also offers IBKR GlobalTrader, a simpler mobile app to trade stocks, options and ETFs, ideal for beginners.
Plus500
Plus500 is a CFD provider with no commissions (costs are built into the spread), offering CFDs on indices, forex, commodities, cryptocurrencies, shares, options and ETFs. In South Africa, it is an authorised financial services provider under the FSCA.
81% of retail CFD accounts lose money.
NAGA
NAGA is a Hamburg-based fintech, listed in Germany, that merged with CAPEX.com in 2024. It offers social trading, real stocks and ETFs, CFDs, crypto and a demo account.
eToro and its alternatives at a glance
| Broker | Real stocks and ETFs | CFDs | Minimum deposit | FSCA authorised |
| eToro | Yes ($0 on ETFs, $1 per stock trade) | Yes | $50 | No |
| Interactive Brokers | Yes (170 markets) | Yes | $0 | No |
| Plus500 | No (CFDs only) | Yes | $100 | Yes (FSP 47546) |
| NAGA | Yes | Yes | $250 | No |
As of October 2026, taken from each broker’s website. Minimum deposits can vary by payment method.
Interactive Brokers at a glance
Founded in 1978, listed on Nasdaq (ticker: IBKR) and part of the S&P 500 since August 2025, Interactive Brokers is a global online broker with more than 5.5 million client accounts that has come through major financial crises, showing resilience and rigorous risk management.
Interactive Brokers offers an advanced investment platform with a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds and currencies) on 170 markets in 40 countries, solid order execution (IB SmartRouting) and a full set of technical and fundamental tools.
Beginners and intermediate investors have educational tools to explore, but the learning curve is steep. That’s why we mainly recommend it to more experienced investors. Customer service gives clear answers, so there’s little need to go back and forth.
On the downside, Interactive Brokers’ fee structure is complex, the registration process is lengthy (although fully online) and it doesn’t offer commission-free trading to South Africans. However, its low currency conversion fee (0.002%, minimum $2), tight spreads and stock lending programme can still make it cheaper than most brokers.
If you’re a beginner, IBKR GlobalTrader is a simpler mobile app to trade stocks, options and ETFs, ideal for beginner investors, with automatic currency conversion and fractional shares.
Want to know more about Interactive Brokers? Check our Interactive Brokers review.
Plus500 at a glance
81% of retail CFD accounts lose money.
Founded in 2008 and listed on the London Stock Exchange, Plus500 is a CFD provider offering CFDs on forex, indices, shares, commodities, options, ETFs and cryptocurrencies. It is available in more than 50 countries.
In South Africa, Plus500 operates through Plus500AU Pty Ltd, an authorised financial services provider under the FSCA (FSP #47546). With CFDs, you speculate on price movements without owning the underlying asset, so Plus500 suits active traders rather than long-term, buy-and-hold investors.
You trade on WebTrader, Plus500’s proprietary platform, which offers a stable experience on the web and on its mobile app. The platform is user-friendly and responsive, and you can test its features with a free demo account.
Customer support is available through a chat that is always visible on the trading platform. Plus500 charges no commissions, since its costs are built into the spread, and offers accounts in several currencies, including USD, EUR and GBP. It charges a 0.70% currency conversion fee and a $10 monthly inactivity fee after three months without logging in.
Want to know more about Plus500? Check our Plus500 review.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Any educational content, market commentary, research, analysis, forecasts, coaching, training, or opinions provided by independent third parties do not represent the views of Plus500. Plus500 provides self-trading execution-only services and does not provide asset management nor investment, financial, legal, or tax advice. Plus500 accepts no responsibility or liability for any decisions made or losses incurred as a result of reliance on information, research, educational materials, coaching, or services provided by third parties.CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorized by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.
NAGA at a glance
77.41% of retail CFD accounts lose money.
NAGA is a fintech company owned by The NAGA Group AG, listed in Germany. In 2024, it merged with the trading platform CAPEX.com, and the combined group kept the NAGA brand. It serves clients through different entities: NAGA Markets Europe Ltd (CySEC) for European clients and NAGA Global for clients outside the EU.
Besides DIY investing, NAGA offers “Autocopy”, which lets you automatically copy other users’ trades, and you can also be rewarded when others copy yours.
Through its platforms (MT4, MT5, web and mobile apps), you can trade stocks, ETFs, indices, forex, CFDs on stocks, cryptocurrencies, commodities and futures. Its academy also publishes useful content on the platform and on trading in general.
South African clients are usually served by NAGA Global, an offshore entity that is not regulated by the FSCA. It offers negative balance protection and segregated client funds, but no investor compensation fund.
Want to know more about NAGA? Check our NAGA review.
Which is the best alternative?
There’s no single answer, since each platform stands out in different areas. We believe Interactive Brokers is the best broker overall for investing in real stocks and ETFs. If you’re mainly interested in social trading, eToro and NAGA are the main options. If you want to trade CFDs with a locally authorised provider, Plus500 is authorised by the FSCA.
Choose the one that best matches your needs and goals: are you looking for active trading or a long-term, “buy and hold” approach?
Always do your own research before choosing a broker. We hope this article saved you some research time and helps you choose the most suitable platform.
FAQs
Does eToro operate in South Africa?
Yes. eToro has accepted South African clients since June 2022, although it doesn’t hold a licence from the South African regulator (FSCA).
What is eToro?
eToro is a multi-asset investment platform with around 40 million registered users and 4.28 million funded accounts, listed on Nasdaq (ticker: ETOR) since May 2025. It lets you invest in stocks, ETFs, commodities and crypto assets, monitor your portfolio in real time and copy other investors’ portfolios.
eToro is regulated by top-tier regulators, including the FCA in the UK, CySEC in Cyprus, ASIC in Australia and the FSRA in Abu Dhabi.
But not everything is perfect: eToro charges a $5 withdrawal fee on USD accounts (minimum withdrawal $30), and South African clients don’t have a rand account, so deposits in ZAR are converted to US dollars, with a conversion fee. There is no inactivity fee.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Which broker is authorised by the FSCA?
Of the brokers in this article, only Plus500 is an authorised financial services provider in South Africa (Plus500AU Pty Ltd, FSP 47546), and it offers CFDs only. eToro, Interactive Brokers and NAGA serve South African clients through entities regulated outside South Africa.
How much is the minimum deposit at eToro in South Africa?
The minimum first deposit at eToro is $50 in most countries, including South Africa.
