How to buy JSE shares in South Africa
Everything between “I want to own shares” and your first order actually going through. No jargon, and nothing here is advice on what to buy.
1. What you need before you start
- A South African ID or valid passport.
- Proof of address from the last three months — a utility bill or bank statement.
- A bank account in your own name. Brokers pay out to that account and no other.
- A tax number, which SARS issues automatically to most taxpayers.
These are FICA requirements, not a broker’s preference. Every licensed provider has to collect them.
2. Choose a broker
The JSE is not open to the public directly. Orders reach it through a licensed member firm, so a brokerage account is the only route to owning a JSE-listed share.
What actually separates brokers: the account minimum, the brokerage rate and its minimum per trade, whether you can buy fractional shares, and whether they offer a tax-free account. Our broker comparison sets those out side by side.
One distinction worth understanding before you sign anything: some platforms sell contracts for difference (CFDs) rather than shares. A CFD tracks the price and is usually leveraged — you do not own the company, you do not receive dividends as a shareholder, and losses can exceed your deposit. Every broker listed on StockTalk gives you direct ownership of the share.
3. Open and fund the account
Applications are online and usually take one to three business days once your FICA documents are in. Fund by EFT from your own bank account — brokers reject third-party deposits, so money from a spouse’s or parent’s account will bounce back.
4. Understand what a trade costs
Every purchase carries more than the share price:
- Brokerage — your broker’s fee, usually a percentage with a minimum per trade.
- Securities Transfer Tax — 0.25% of the value, on purchases only.
- STRATE settlement — a small fee for recording the transfer.
- Investor protection levy — a fraction of a percent.
The per-trade minimum is what makes small, frequent orders expensive. On a broker charging a R70 minimum, a R500 purchase loses 14% to costs before the share has moved.
5. Place your first order
You will be asked for the share code — NPN for Naspers, SOL for Sasol — the amount, and an order type. A market order fills at the best available price now. A limit order fills only at the price you name or better, and may not fill at all.
The JSE trades weekdays from 09:00 to 17:00 SAST. An order placed outside those hours queues for the next session.
6. After you buy
Settlement is T+3: the shares are legally yours three business days after the trade. Dividends are paid into your brokerage account, and you will receive an IT3(b) certificate each year for your tax return.
Follow what you own on StockTalk — add a share to your watchlist to see price moves, SENS announcements and what other investors are saying about it.
Open an account
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- EasyEquitiesFractional JSE shares from small amounts, with a low account minimum.Visit
- SharenetFull-service JSE broker with research and advisory options.Visit
- FNB Share InvestingJSE trading inside FNB online banking, for existing FNB clients.Visit
- Standard Bank Online Share TradingBank-backed JSE brokerage with research and a managed option.Visit
- Absa StockbrokersJSE brokerage and tax-free share accounts through Absa.Visit
Listed in no particular order. Compare them side by side.
Common questions
How much money do I need to start buying JSE shares?
Less than most people expect. Brokers offering fractional shares let you buy a portion of a share, so you can start with a few hundred rand. Brokers that deal in whole shares only mean your first purchase costs at least the price of one share, which ranges from a few rand to several thousand depending on the company.
Do I need a broker to buy shares on the JSE?
Yes. The JSE is not open to the public directly — orders reach it through a licensed member firm. Opening an account with a licensed South African stockbroker is the only route to owning JSE-listed shares.
What does it cost to buy shares in South Africa?
Brokerage is charged by your broker, usually as a percentage with a minimum per trade. On top of that sit statutory costs that apply wherever you trade: Securities Transfer Tax of 0.25% on purchases, STRATE settlement fees, and an investor protection levy. Compare the total, not just the headline brokerage rate.
How long does it take to open a brokerage account?
Usually one to three business days once you have submitted FICA documents — your ID, proof of address and bank details. Some brokers verify instantly against the Home Affairs database and can open an account the same day.
Is a tax-free savings account better for shares?
A tax-free savings account shelters growth and dividends from tax, within an annual and lifetime contribution limit set by SARS. Most JSE brokers offer one. It suits money you intend to leave invested; contributions you withdraw do not restore your limit.
Nothing on this page is financial advice. StockTalk SA is not a registered Financial Services Provider — see our Disclaimer and our Sponsored Content Policy.