i What this page covers
The published fees of the exchanges South Africans use most, on one page: the maker and taker rate on the order book, the premium for instant buy and sell, what it costs to get rand in and out, and the crypto withdrawal fee, with the regulatory status of each. The second table turns the percentages into rand on a R10,000 and a R100,000 trade, which is where the differences become visible: the same R10,000 of Bitcoin costs R10 on Binance spot, R35 on VALR's order book, R60 on Luno's, and R390 if bought on Luno with a card.
Fees change often and tiers depend on your 30-day volume. Every figure here is the entry-tier rate as published or reported on the date in the byline; check the exchange's own fee page before a large trade. For the licence check itself, see how to check whether your exchange is FSCA-licensed.
★ What changed this year
Over 2025 and 2026 the market split in two. VALR and AltCoinTrader restructured their entry-tier rates (VALR to 0.18% maker and 0.35% taker on rand pairs; AltCoinTrader to 0.10% maker and 0.75% taker), Luno kept the lowest fees on USDT/ZAR with a maker rebate but the highest on instant and card buys, and Binance remained the cheapest order book for anyone willing to on-ramp rand at 1.4% through Stitch. From September 2026 all licensed exchanges report client activity to SARS under CARF, which is a reason to trade on one of them rather than an unlicensed venue whatever the fee.
| Exchange | Status | Maker / taker (order book) | Instant buy / sell | Rand deposit | Rand withdrawal | Crypto withdrawal |
|---|---|---|---|---|---|---|
| Luno | FSCA CASP | 0.40% / 0.60% on crypto-rand pairs at the entry tier; USDT/ZAR −0.01% / 0.20% | 1.0% in the app; about 2% from the portfolio screen; 3.9% by card | EFT free; instant deposit 1.4% | Standard EFT R8.50 as published; express R20 (free to Standard Bank) | Network fee |
| VALR | FSCA CASP | 0.18% / 0.35% on rand pairs at the entry tier, falling with 30-day volume to rebates; crypto-crypto 0% to 0.08% / 0.035% to 0.10% | Simple Buy and Sell, about 1.6% as reported | EFT, instant EFT and PayShap free | 30 free rand withdrawals a month | Network fee; some assets free |
| Binance | FIC-registered; not an FSCA CASP | 0.10% / 0.10% spot (0.075% with BNB) | Instant buy about 0.5% | ZAR on-ramp via Stitch 1.4%; cards and P2P | ZAR off-ramp R20 | Dynamic, by network |
| AltCoinTrader | FSCA CASP | 0.10% / 0.75% as published in 2026 (previously 0% / 1%) | Easy Buy at a higher rate | EFT 0.5%, maximum R95 | R16 + 0.5%, maximum R95 | Network fee |
| Ovex | FSCA CASP | 0.25% / 0.25% flat; OTC desk for large trades | Quote-based | Free | Free as published | Network fee |
| Route | Rate | On R10,000 | On R100,000 |
|---|---|---|---|
| Luno, exchange taker | 0.60% | R60 | R600 |
| Luno, instant buy in app | 1.0% | R100 | R1,000 |
| Luno, card buy | 3.9% | R390 | R3,900 |
| VALR, exchange taker | 0.35% | R35 | R350 |
| VALR, exchange maker | 0.18% | R18 | R180 |
| VALR, Simple Buy | about 1.6% | about R160 | about R1,600 |
| Binance, spot | 0.10% | R10 | R100 |
| Binance, ZAR deposit via Stitch | 1.4% | R140 | R1,400 |
| AltCoinTrader, taker | 0.75% | R75 | R750 |
| AltCoinTrader, maker | 0.10% | R10 | R100 |
| Ovex, exchange | 0.25% | R25 | R250 |
| If you | Cheapest published route | Why |
|---|---|---|
| Buy Bitcoin once a month with rand and hold | VALR order book with a limit order (0.18%), or Luno USDT/ZAR then BTC | Free EFT deposit, low maker fee, licensed |
| Trade actively against rand | VALR taker 0.35% or Luno USDT/ZAR taker 0.20% | Deep rand books, tiers fall quickly with volume |
| Trade altcoins against USDT | Binance spot 0.10%, after on-ramping once | The 1.4% Stitch on-ramp is paid once; the book is global |
| Want it in one tap | Luno instant buy 1.0% or VALR Simple Buy | Convenience costs three to ten times the order book |
| Move large amounts | Ovex OTC desk | Quote-based pricing instead of a thin book |
How these figures work
An exchange charges in up to four places. The trading fee is the percentage of each order, lower for makers (limit orders that wait on the book) than takers (market orders that hit it), and lower again as your 30-day volume rises through tiers. Instant or simple buy is a separate product with a spread built in, typically 1% to 4%, aimed at people who do not want to see an order book. Rand deposits by EFT are free almost everywhere; instant deposit through Stitch or a card costs 1.4% to 3.9%. Rand withdrawals are free or a few rand; crypto withdrawals pass the network fee through and a few exchanges add a margin.
The practical rule is that the order book with a limit order is always the cheapest way to buy on any South African exchange, and the instant buy button is always the most expensive. The difference on R10,000 is between R18 and R390. Regulatory status matters alongside price: Luno, VALR, AltCoinTrader and Ovex are licensed crypto asset service providers under the FSCA; Binance is registered with the FIC but has not been licensed as a CASP, so the FAIS Ombud route is not available to its South African clients.
★ A worked example
Buying R20,000 of Bitcoin on Luno three ways. Card: 3.9% = R780 in fees, you receive about R19,220 of Bitcoin. Instant buy after a free EFT deposit: 1.0% = R200. Exchange limit order on BTC/ZAR at the entry tier: 0.40% maker = R80, or R120 as a taker. The same money on VALR's order book: R36 as a maker, R70 as a taker. On Binance after a 1.4% Stitch on-ramp (R280) and 0.10% spot (R20): R300, cheaper only for someone who deposits once and trades many times.
✕ Common mistakes
- Judging an exchange by its headline maker fee when you only ever use the instant buy button.
- Depositing by card or instant EFT for a trade you could have waited one business day to make for free.
- Ignoring the crypto withdrawal fee on small amounts; a R30 network fee on a R500 transfer is 6%.
- Treating a Binance account as FSCA-regulated. It is FIC-registered, which is a different thing.
- Comparing rates from different dates. Entry-tier fees at VALR and AltCoinTrader changed in 2025; older comparisons are wrong.
Notes on reading these figures
Entry-tier rates as published on each exchange's fee page or reported by South African financial media, checked 13 October 2026. Tiered discounts for higher 30-day volume, promotional rates, staking and derivatives fees are not shown. Items marked "as reported" could not be confirmed on the exchange's own page at the time of checking and should be verified before relying on them. This page is a fee comparison, not a recommendation, and the exchanges are listed in order of South African user base.
Terms used on this page
Frequently asked questions
Which crypto exchange has the lowest fees in South Africa?
On the order book with limit orders, Binance (0.10%) and VALR (0.18% maker at the entry tier) are the cheapest, with Luno's USDT/ZAR pair close behind. For instant buys, every exchange charges 1% or more; Luno's card buy at 3.9% is the most expensive published route.
Does Luno charge a fee to deposit rand?
A normal EFT is free and reflects in about one business day. Instant deposits cost 1.4% and card purchases 3.9%.
Is Binance legal in South Africa?
South Africans can use it and it is registered with the FIC, but it does not hold an FSCA crypto asset service provider licence. Luno, VALR, AltCoinTrader and Ovex do. The difference matters for complaints and for the regulator's oversight.
What does VALR charge?
At the entry tier, 0.18% maker and 0.35% taker on rand pairs, falling with 30-day volume, with lower rates on crypto-to-crypto and stablecoin pairs. Rand deposits by EFT, instant EFT and PayShap are free and 30 rand withdrawals a month are free.
Why are instant buy fees so much higher?
Instant buy is a dealing service: the exchange sets a price, carries the risk and builds its margin into the rate. The order book matches you with another user and charges only the trading fee. Learning to place a limit order is the single biggest fee saving available.
Are exchange fees tax deductible?
Buy fees form part of the base cost of the coins and sell fees reduce the proceeds, so they lower the taxable gain. The Crypto Profit Calculator on this site includes them.
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