When it comes to trading accounts, most brokers offer a combination of spread and commission trading options. Which model is preferred by a trader varies from trader to trader. Some traders are content to pay a predetermined fee in exchange for the ability to execute at the highest feasible rate. In contrast, other traders decide not to pay any fixed fees and instead opt to pay a spread, which is defined as the difference between the bid and ask prices.
This article will highlight the top 10 brokers who offer commission-free trading while also providing some of the most favorable trading conditions available in the industry.
When a brokerage advertises no trading or commission fees, this does not imply that there are no fees. Although you will not be charged for the brokerage that executes the trade, the individual investments may incur expense ratios or management fees.
It’s crucial to remember that no matter which investment route you choose, it is critical that you understand what you’re getting into, including the risk of loss.
Here is a list of the top zero-commission trading platforms that could be a good fit for your investing needs:
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
AvaTrade
Overview
People may trade with confidence since AvaTrade, based in Ireland, was founded in 2006 with the objective of empowering people to do so. The company’s administrative headquarters are in Dublin, with sales offices in Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg. The company also has sales offices in other cities, including Paris, Milan, Sydney, Tokyo, and Johannesburg.
AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa, among other places. In line with its strong core values of honesty and innovation, AvaTrade strives to prioritize its customers by assisting traders of all levels and providing an enjoyable customer service experience for its customers.
The AvaTradeGO app, which has a user-friendly interface and cutting-edge capabilities, is available at any time and from any location in order to achieve this goal.
Pros and Cons
| Pros | Cons |
| Free and multiple deposits and withdrawal options | Offers only CFDs, forex, and cryptos to trade |
| No trading commissions charged | An inactivity fee is charged |
| Great educational tools provided | Research tools are quite limited |
| Easy and fast account opening | |
| No withdrawal fees charged | |
| Low trading fees charged |
TD Ameritrade
Overview
TD Ameritrade was founded in 1978 and is one of the biggest US-based stockbrokers.
TD Ameritrade has a banking background, subjecting it to tougher regulation than most brokers. TD Ameritrade is regulated by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Commodity Futures Trading Commission (CFTC), Hong Kong Securities and Futures Commission, and Monetary Authority of Singapore (MAS).
TD Ameritrade is listed on the NASDAQ stock exchange, a big plus for safety as the company releases financial statements regularly and transparently.
TD Ameritrade’s strongest suit is probably its Thinkorswim trading platform, where in addition to stocks and options, traders can trade forex, futures, and futures options with access to more than 400 technical studies, with plenty of other tools that pro traders love. Plus, those looking for more fundamental research will find plenty.
Commissions are $0 (stocks and ETFs) and $0.65 per contract (options).
Pros and Cons
| Pros | Cons |
| Superb desktop trading platform | High fund fees |
| Low trading fees | Account opening is slow, and not fully digital |
| No trading commissions charged | No credit/debit cards or electronic wallets for money transfer |
| Free stocks and ETFs | Not suitable for beginners |
| Extensive research capabilities | |
| Great customer support supplied |
XTB
Overview
XTB is a CFD, cryptocurrency, and FX broker that has offices in London and Warsaw, as well as an international presence. The company was founded in 2002 and today has offices in more than 10 different locations throughout the world. In addition to offering a personalized approach and an extensive selection of training resources, XTB is also known for having an award-winning platform. They are publicly traded on the Warsaw Stock Exchange and have more than 140,000 customers around the world. They trade on more than 1500 global marketplaces and are governed by a number of international regulatory bodies, including the Financial Conduct Authority (FCA) of the United Kingdom and the Polish Financial Supervision Authority (PZU) (KNF).
Pros and Cons
| PROS | CONS |
| Regulated by top-tier FCA | Limited product portfolio |
| Award-winning platform | Does not hold a banking license |
| Free and easy deposit and withdrawal | Poor email support |
| No trading commissions charged | |
| Negative balance protection | |
| A broad range of educational materials |
FP Markets
Overview
FP Markets is an Australian broker that was founded in 2005 and provides traders with access to contract for difference (CFD) trading in forex, indices, commodities, stocks, and cryptocurrencies at consistently tighter spreads and in superior trading conditions.
FP Markets is a worldwide trusted CFD and Forex broker that offers traders a comprehensive array of trading products and allows them to trade from a single account.
FP Markets is also fully licensed and further regulated by the Securities Commission of the Bahamas (SCB), a corporate regulator and financial watchdog.
Choosing FP Markets offers the investor a broker that complies with the most stringent regulations for protection.
FP Markets offers tighter spreads from 0.0 pips on its platforms and its Electronic Communication Network (ECN) pricing model is transparent so that traders can rely on institutional-grade liquidity from top-tier banks to ensure market-leading pricing.
FP Markets understands what traders require and has discovered that a combination of pricing, execution speed, cutting-edge platforms, product range, customer support, and market analysis is critical to providing clients with trade confidence.
Pros and Cons
| Pros | Cons |
| Offering 24/5 Multi-lingual support | Product portfolios are somewhat limited |
| Low Forex fees | Web and desktop platforms are outdated |
| No trading commissions charged | Stock CFD fees are high |
| Fast and easy account opening | |
| Deposit and withdrawal quickly executed |
XM
Overview
XM.com is a global online broker that was created in 2009 and has its headquarters in Cyprus.
XM.com has become a huge and well-established multinational investment firm, with over 2 500 000 clients from 196 countries, and has become a true industry leader.
XM.com is run by professionals with years of experience in the financial business, and this, together with resources and support in over 30 languages, makes XM.com a broker of choice for traders of all levels.
XM.com provides over 25 secure payment methods, 16 full-featured trading platforms, and personal customer care 24 hours a day, seven days a week.
More than 99 percent of all XM.com orders are filled in under a second, with no re-quotes or rejections. Their clients benefit from Negative Balance Protection, which ensures that they will never lose more than their account balance.
Pros and Cons
| Pros | Cons |
| Properly regulated | Doesn’t offer VPS |
| Offers Negative Balance Protection | |
| No trading commissions charged | |
| Low min deposit | |
| Allows hedging | |
| Allows scalping |
Charles Schwab
Overview
Charles Schwab was founded in 1971 as a United States discount broker targeting mostly US clients although it is also available in more than 40 other countries.
It is regulated by top-tier financial authorities, such as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the Financial Conduct Authority (FCA), and is also listed on the New York Stock Exchange.
Charles Schwab offers free stock and ETF trading but charges high fees for some mutual funds.
Charles Schwab is a great overall broker, with an excellent trading platform, competitive pricing, and a range of research. The StreetSmart Edge platform (in desktop and web versions) allows one to structure the layout according to your trading process, integrating news feeds and live CNBC coverage. Traders will be able to set up complex options orders on an all-in-one trade ticket and find stock ideas with lots of third-party research and Schwab’s screening tools.
Commissions are $0 (stocks and ETFs) and $0.65 per contract (options).
Pros and Cons
| Pros | Cons |
| Excellent trading platform | High fees for some mutual funds |
| Outstanding research | Not well-structured educational platform |
| Great customer service | |
| Free stock and ETF trading | |
| No trading commissions charged |
FXTM
Overview
FXTM is a licensed broker that was established in 2012 and is regulated by the CySEC in Cyprus, the FSCA in South Africa, and the FSC in Mauritius, among other authorities.
Tight spreads, trading in all currency pairs, as well as a wide selection of other financial instruments and derivatives are all available through FXTM. Some of the other benefits include low stock index CFD fees, rapid and simple account opening, and an extensive range of instructional resources. Spreads start at 0.1 pip for normal accounts and 0 pip for ECN-based trading accounts, while fees for stock index CFDs start at 0.
Pros and Cons
| Pros | Cons |
| Well-regulated | Limited product portfolio |
| Low minimum deposit | Inactivity and withdrawal fees |
| Competitive Forex fees | High CFD fees |
| Excellent Customer Service |
Go Markets
Overview
GO Markets is an Australian-registered broker with offices in London, Taipei, Hong Kong, and Melbourne, as well as in other cities across the world. Go Markets Pty Ltd was founded in 2006 and is based in Australia.
All client monies are maintained in separate client trust accounts at top-tier AA-rated banks to provide the highest level of security.
In total, GO Markets currently offers more than 350 tradeable CFD instruments in the form of Forex, stocks and indices, commodities, and cryptocurrencies, among other things.
The customer service team is available 24 hours a day, five days a week.
Pros and Cons
| Pros | Cons |
| Highly regulated | Not available in the US |
| Ultra-fast trade executions | Limited range of instruments |
| Great trading and analysis tools | Only two account types |
Ally Invest
Overview
No account minimums are required by Ally Invest, which provides an intuitive trading platform as well as extensive research tools. This brokerage is excellent for both newbies and expert investors — albeit you will not be able to trade futures using this brokerage. You will not be charged commissions as long as your investments are made in qualified U.S. securities, such as stocks and exchange-traded funds (ETFs). ETFs from iShares and Vanguard, both of which are known for having low expense ratios, are among the alternatives.
Customers can also pick between two different portfolio options: self-directed portfolios and managed portfolios. Ally Invest demands a $100 minimum for managed portfolios, however, it does not charge any advisory fees on those portfolios. The Robo-advisor chooses diverse and low-cost exchange-traded funds (ETFs) and automatically rebalances your portfolio in accordance with your financial objectives.
Investors have access to a variety of instructional and research tools, including a probability calculator and option chains, which may not be particularly valuable to beginning investors. Investors can get in touch with customer support via email, live chat, or phone, among other methods.
Pros and Cons
| Pros | Cons |
| No account minimums | Commissions for bonds, mutual funds, and other types of securities |
| Free research tools from major providers like Morningstar | No in-person customer service |
| Intuitive and easy-to-use online platform | |
| No in-person customer service | |
| No trading commissions charged |
OctaFX
Overview
OctaFx was launched in 2011 and is based Jakarta, Indonesia with offices in St. Vincent and the Grenadines. It is part of Octa Markets in Kingston and has a subsidiary in Cyprus namely Octa Markets Cyprus Ltd.
OctaFx is an (STP) ECN Forex broker which offers both the MetaTrader and cTrader platforms and leverage of 1:500.
Prominent features include extensive research and educational resources, a first-time deposit bonus of 50%, an unlimited demo account, and competitive spreads.
OctaFX provides minimal spreads and award-winning trading conditions, making it an excellent choice for investors. In more than 100 countries, they are a reliable source of CFD and Forex trading.
OctaFX provides CFD trading on a wide range of financial instruments, including forex, metals, and cryptocurrencies.
It’s easy to see how they fit in with the rest of the brokers on this list because they use the MetaTrader 4 platform as their trading platform. In addition to MetaTrader, they also provide cTrader. They have a variety of account sizes and trading options.
Pros and Cons
| Pros | Cons |
| CySEC regulation | Limited range of instruments |
| No commission deposits or withdrawals | Doesn’t offer VPS |
| Multiple platforms | No Forex educational tools |
| Low Forex and stock index CFD fees |
Top 4 Brokers
