Quick Facts

• The JSE is Africa’s largest stock exchange
• You can start investing from as little as R10
• All brokers must be registered with FSCA
• You pay 20% tax on dividends automatically
• Never pay upfront fees for investment “opportunities”

1. What is the JSE?

The Johannesburg Stock Exchange (JSE) is Africa’s largest stock exchange. It started in 1887 during the gold rush. Today, it is the 16th largest stock exchange in the world.

The JSE is where companies sell shares to the public. When you buy shares, you own a small part of that company. If the company does well, your shares become more valuable.

JSE by the Numbers (December 2025)

• Market value: R21 trillion
• Listed companies: 435
• Trading hours: 9:00 AM to 5:00 PM (Monday to Friday)
• Location: Sandton, Johannesburg
• All Share Index: Over 113,000 points (December 2025)

What Can You Buy on the JSE?

• Shares: Parts of companies like Shoprite, MTN, Capitec
• ETFs: Baskets of shares that track an index
• Bonds: Money you lend to companies or government
• Unit trusts: Funds managed by professionals

✅ 2. Why Invest on the JSE?

Benefits of JSE Investing

1. Beat Inflation: Bank savings accounts pay around 5-7% interest. The JSE All Share Index grew by 34.89% in 2025. Your money can grow faster than inflation.

2. Own Big Companies: You can own shares in Shoprite, Vodacom, Naspers, and other top South African companies. You share in their profits.

3. Earn Dividends: Many companies pay shareholders a portion of their profits. This is called a dividend. You get money even if you don’t sell your shares.

4. Start Small: You can start with as little as R10 on platforms like EasyEquities. You don’t need thousands of Rand.

5. Regulated Market: The JSE is strictly regulated by the Financial Sector Conduct Authority (FSCA). This protects you from fraud.

Real Example

3. How to Get Started: Step-by-Step Guide

You cannot buy shares directly on the JSE. You must use a licensed stockbroker or investment platform. Here’s how to start:

Step 1: Choose Your Investment Platform

Pick a registered broker or platform. Popular options include EasyEquities, FNB Shares Zero, Standard Bank Online Share Trading, and SatrixNow. Make sure they are FSCA registered.

Step 2: Gather Your Documents

You will need:

• South African ID or passport
• Proof of address (bank statement, utility bill)
• Bank account details
• Tax number (from SARS)

Step 3: Open Your Account Online

Most platforms let you open an account online. The process takes 10-30 minutes. You upload your documents and answer questions about your income and investment goals.

Step 4: Verify Your Identity

The platform will verify your documents. This can take 1-7 days. They must follow FICA (Financial Intelligence Centre Act) rules to prevent money laundering.

Step 5: Add Money to Your Account

Transfer money from your bank account. Most platforms accept EFT. Some minimum amounts: EasyEquities R10, FNB Shares Zero R0, Standard Bank R100.

Step 6: Choose Your First Investment

For beginners, ETFs (Exchange Traded Funds) are recommended. They spread your risk across many companies. Popular beginner ETFs: Satrix Top 40, Satrix S&P500, CoreShares Top 50.

Step 7: Place Your First Order

Search for the share or ETF you want. Enter how much you want to spend. Click “Buy”. The order will execute during trading hours (9am-5pm).

4. Popular Investment Platforms in South Africa (2025)

Here are the most popular platforms for South African investors. All are FSCA regulated.

EasyEquities – Best for Beginners

FNB Shares Zero

Standard Bank Online Share Trading

SatrixNow – Best for ETF Investors

Nedbank Young Investors

5. Costs and Fees You Must Pay

Understanding fees is very important. They reduce your profits. Here are all the fees you pay when investing on the JSE.

1. Brokerage Fees (Trading Fees)

This is what the platform charges you to buy or sell shares. It’s usually a percentage of your trade value.

Platform	Brokerage Fee
EasyEquities	0.25%
FNB Shares Zero	0% (Ashburton ETFs), 0.25% (other)
Standard Bank	0.25% – 0.5%
SatrixNow	0.25%
Absa	0.4% (min R120)

2. Securities Transfer Tax (STT)

This is a government tax. You pay 0.25% when you BUY shares. This is automatic. The platform deducts it for you.

3. STRATE Settlement Fee

STRATE is the company that processes share transactions. The fee is 0.005787% of your trade value. Minimum R10.19, maximum R73.49.

4. Investor Protection Levy

The FSCA charges 0.0002% of your trade to fund investigations. This is very small.

5. Monthly Platform Fees

Some platforms charge monthly fees. EasyEquities: R25. FNB Shares Zero: R0. SatrixNow: R0.

6. VAT on Fees

You pay 15% VAT on brokerage fees and monthly platform fees.

Real Example: Buying R1,000 of Shoprite Shares

⚠️ 6. Tax You Must Pay on Investments

The South African Revenue Service (SARS) taxes your investment profits. Here’s what you pay:

1. Dividends Tax (20%)

When companies pay you dividends, they automatically deduct 20% tax. You don’t need to do anything. This is called withholding tax.

2. Capital Gains Tax (CGT)

When you sell shares for a profit, you pay tax on the profit. This is called capital gains tax.

How it works:

• SARS gives you a R40,000 annual exemption. You don’t pay tax on the first R40,000 of profit.
• Above R40,000, you include 40% of the profit in your taxable income.
• You pay tax at your normal income tax rate (18% to 45%).

3. Tax-Free Savings Accounts (TFSA)

Good news! You can invest tax-free using a TFSA. Most platforms offer this.

TFSA limits (2025):

• Maximum per year: R36,000
• Maximum lifetime: R500,000
• No tax on dividends or capital gains

4. When to Declare Tax

You must declare capital gains on your annual tax return. Dividends tax is automatic, so you don’t declare it.

Your broker will send you a tax certificate. This shows all your trades and dividends for the year. You use this to complete your tax return.

🚨 7. Investment Scams – Protect Your Money

Investment scams are increasing in South Africa. The FSCA issues new warnings every week in 2025. Scammers steal billions of Rand from South Africans.

Common Investment Scams (December 2025)

Red Flags – Signs of a Scam

• Promises of guaranteed high returns – “Make 50% profit every month”
• Pressure to act urgently – “This opportunity closes today”
• Contact via Telegram or WhatsApp – Legitimate brokers don’t do business this way
• Requests to open crypto wallets – To make it harder to trace your money
• No FSCA registration – They can’t show you their FSP number
• Vague information – They don’t explain exactly how they invest your money
• Upfront fees required – “Pay R500 to unlock your investment”
• Fake certificates and documents – Using stolen logos and FSP numbers

How to Protect Yourself

1. Verify FSCA registration – Visit www.fsca.co.za or call 0800 110 443
2. Use the JSE Broker Verification Tool – Available at www.jse.co.za
3. Never invest via social media – Telegram and WhatsApp are not for investments
4. If it sounds too good to be true, it is – No one makes 100% returns safely
5. Take your time – Never invest under pressure
6. Don’t pay upfront fees – Legitimate brokers deduct fees from your account
7. Research the company – Google the company name with “scam” or “review”
8. Ask for physical address – Scammers won’t give you one

If You’ve Been Scammed

Report immediately to:

• FSCA: 0800 110 443 or www.fsca.co.za
• FSCA Fraud Hotline: 0800 313 626 or fsca@behonest.co.za
• SABRIC (Banking fraud): www.sabric.co.za
• Police: Open a criminal case at your nearest police station

✅ 8. Your Consumer Rights and Protection

You have strong legal protections as an investor in South Africa. Here’s what protects you and where to complain.

Who Regulates the JSE and Brokers?

Your Rights as an Investor

• Right to information: Your broker must explain all fees clearly
• Right to fair treatment: Brokers must treat you fairly and honestly
• Right to privacy: Your information is protected under POPI Act
• Right to complain: You can complain to the broker, FSCA, or Ombudsman
• Right to compensation: If a broker breaks the law, you may get compensation

Where to Complain

Important Laws That Protect You

• Financial Advisory and Intermediary Services Act (FAIS): Requires brokers to be licensed and act in your best interests
• Financial Markets Act: Regulates the JSE and prevents market manipulation
• Consumer Protection Act: Protects you from unfair business practices
• POPI Act (Protection of Personal Information): Protects your personal and financial data

✅ Best Actions to Take

1. Start small: Begin with R100-R500 to learn how investing works without big risk.
2. Choose EasyEquities or FNB Shares Zero: These platforms are beginner-friendly with low fees.
3. Invest in ETFs first: Try the Satrix Top 40 ETF. It spreads your risk across 40 companies.
4. Use a Tax-Free Savings Account (TFSA): Save thousands in tax over the years.
5. Invest monthly: Set up a debit order for R200-R500 per month. This is called Rand-cost averaging.
6. Think long-term: Only invest money you won’t need for 5+ years. The JSE grows over time.
7. Verify everything: Always check FSCA registration before opening an account.
8. Ignore get-rich-quick schemes: If someone promises guaranteed high returns, run away.

❌ What to Avoid

• Don’t invest via Telegram or WhatsApp groups
• Don’t chase “hot tips” or rumors
• Don’t invest money you need for emergencies or bills
• Don’t try to time the market (buying low, selling high is very hard)
• Don’t invest without understanding fees and taxes
• Don’t believe promises of guaranteed returns
• Don’t invest with unlicensed brokers

🎯 Next Steps

1. Visit www.jse.co.za and read their beginner’s guide
2. Choose a platform (EasyEquities or FNB Shares Zero recommended)
3. Gather your documents (ID, proof of address, bank details)
4. Open your account online
5. Start with a small investment in an ETF
6. Read your account statements every month
7. Learn more about different companies and industries