Lastly, see the instrument range along with platform and trading software which you will use to execute orders maybe you prefer to use MetaTrader4 or another specific platform, so select broker with the included offering. Article: Caxton publication, Alberton Record. Read more about: forex trading platforms business. Please enable JavaScript to view the comments powered by Disqus.

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Weather 17°C Tuesday few clouds. Tomorrow: scattered clouds 22° George. South Africas forex industry provides various business and income generating opportunities for many people. What are the best trading platforms? Monday, 17 February , Read a full review of XM here 3. Posted on: Mon, 17 February Your Comments. Our Local Heroes. Local Events. Local Sports Gallery. About George. Related Articles More No related articles found. No more articles found. YOUR OPINION. In comparison to the rest of South Africa, do you feel our town is well run?

Find your prefect match now! Mymatch I'm a 65 year old man looking to meet women between the ages of 50 and Piet I'm a 62 year old man looking to meet women between the ages of 45 and Avignon73 I'm a 49 year old woman looking to meet men between the ages of 40 and Rindie I'm a 55 year old woman looking to meet men between the ages of 50 and An important question is how much money is required to start forex trading in South Africa?

In ZAR the minimum is R70 at Hotforex. But it is advised to start with a capital that is not too low, otherwise you are likely to use very high leverage in order to gain more profits. And this puts your entire trading capital are huge risk with every trade. We will first dive into some important terms that you would need to know while placing your trade.

There are mainly lot sizes i. The number of lots that you can trade will depend on factors like leverage, margin, your risk threshold etc. Otherwise you risk losing your total capital in a single trade. Let's understand this with an example.

You risk losing your entire account balance on a single trade. Leverage: Leverage, by definition, essentially involves borrowing a certain amount of money to invest in something. In Forex, if you are using leverage then it means, you are borrowing some money from your broker to place order for a bigger position than your actual capital. Don't worry, and follow through the following example.

But what if you can lend money from your broker, and place the order. But Leverage is kind of a double-edged sword which has the potential to increase your profits if you are right, but also increases the risk of a bigger loss to you if you are wrong.

A leverage of allows the trader to take a position that is times the amount of initial margin. If the trader is not careful in setting up the stop-loss, it could quickly deplete your trading account. But if the trader is right in his trade, then he can gain from the trade. But as you can understand from this example, the risks of using excessive leverage to trade forex is very risky.

You must never use more than leverage. Margin: Margin is the amount needed in your trading account to place an forex trade. Forex brokers set margin requirements to open a trade, and this is the money set aside with the broker when your position is open. If margin goes down below a threshold required by the broker, you will receive a notice from the broker to fill it up to the required levels.

Stop Loss: Stop loss is the level that you can set, at your desired price where you decide to exit a losing trade. Losses are inevitable, but how you manage that loss is important. So always remember to set a stop loss whenever you are placing a trade.

Some brokers also offer GSLO Guaranteed Stop Loss , which guarantees that your position will be closed at the price limit set in your order. We will now take example of actual trading positions, and how you can place the trade in Forex market.

Loss Case: But if the market goes against you, let's say to 1. Loss Case: In case the market goes up, from 1. Both the above cases highlight how you can lose or gain from a forex trade, depending on your position, position size lots , leverage etc. It is best to fully understand all these dynamics on demo, and then only trade live when you have a proper strategy in place.

And always remember to use a Stop-loss for every trade. Successfull forex traders follow a sound trading strategy. With technical analysis trading, you are basically relying on the price chart, and trading based on the chart patterns, technical tools like candlestics, moving averages etc. On the other hand, fundamental trading involves trading long term based on macro economic factors of a country like their employment data, Retail Sales, Central bank's interest rates etc.

Fundamental analysis mainly involved trading based on the news releases. would determine the price of currency and base the decisions of currency movement by analysing these factors. There are plenty of online Forex news calendars available for free if you want to make it your sole trading strategy.

Also, you can get an idea on how a particular information may effect the market movement upward or downward. For example , the release of employment news data of a country is a major news because if the higher population is employed, it is a sign that the economy is improved and hence this would reflect in the overall currency value. Similarly, a bad news or policy change by the central bank of the country would likely affect the currency' price's exchange rate in the short term as well as long term.

Even if you consider yourself a Technical trader, it is really important to keep track of the Economy News as this would affect the direction of a currency. For ex. A weaker than expected Economic growth in the UK would affect the rates of GBP against other major currencies like US Dollar, Euro etc. Similarly, an increased in interest rates by the Fed, and divergence in the Central Banks monetary policies can affect the currencies.

So, it is really important to understand how ihis works, and use it to form a general bias on the currency's future price. It is wise to learn about both the strategies on demo, spend hours to analyse the charts, and also analyse how the currencies are affected during news hours, and only then trade based on the strategy that works for you.

Most Forex brokers offer multiple trading platforms for online forex trading. In this chapter, first we will list for you all the popular trading platforms offered by different brokers.

And then give you the comparison of all the best forex brokers based on their platforms. Metatrader gives traders the ability to perform advanced trading operations, run Expert Advisors and copy trades of other traders.

This platform is owned by MetaQuotes Software Company. The best feature with MT4 also offers the flexibility to write your own code and create your own custom indicators and 'Expert Advisors' or EAs.

Most of the brokers offer MT4 or the latest MT5 for free. We advise you to go for a broker that offers Metatrader. cTrader: CTrader Platform is offered by some of the regulated forex brokers like FXPro. Their fees with cTrader platform is lower than their fees with MT4 platform. Web Trader: Numerous brokers including Exness, HotForex, Tickmill etc.

offer their Web Based Trading platform where you can just open the chart in a browser instead of downloading the software. For a start, you may want to consider trading off a WebTrader. You can see the performace of the available copy traders over a period, risk ratio etc. You also must note that copy trading carries singinificant risks, so you must carefully check if you want to follow the strategy of a trader or not.

Proprietary Platforms Some forex brokers offer their own platform. But there are disadvantages of choosing such brokers, as you will not get the flexibility of third-party platforms. Even the best of traders have bad days, but with good money management you can minimize your risk.

As for the pros , trading in the forex market offers opportunity to gain income. But there are many risks also. Can the risks associated with forex trading be managed?

Yes, it is possible. All these are sound money management practices that will ensure that you have a better chance of being a successful forex trader. All brokers have different minimum deposit requirements. We advise beginner traders to use minimum leverage of not more than for keeping your risk low. South African traders should start with the right balance, so that you won't be overtrading or risking a lot of your capital for each trade with very high leverage.

Yes, forex trading is legal for traders in South Africa. Although, it is not mandatory for traders to trade with a locally regulated forex broker but it is advised for South African traders to choose a FSCA regulated broker or a any top tier 1 regulated broker like FCA, ASIC broker for safety of your capital and fair trading conditions. It is advised to trade with FSCA regulated brokers for traders in South Africa, as this would offer you grievance addressal in case of any dispute with the broker rather than in case of a foreign broker.

There is no guarantee of profits in forex trading. Trading forex can be profitable for professional currency traders, but for most retail day traders it can bring big losses. Hence, forex trading is not for inexperienced traders. As per some reports there are , forex traders in South Africa. The numbers may be even higher as this is growing. This is the highest number of traders anywhere in Africa.

za aims to help South African traders get started with regulated Forex Trading. Read our forex guides, see unbaised broker reviews, and our best South African forex brokers listing before getting started. Get A Free PDF Version Of This Guide: Contains all the tips, resources and case studies found here. We aim to help traders in South Africa find the best forex brokers.

Read more.. Read full risk disclaimer.. za: 1 Forex Broker Comparison website in South Africa. All Rights Reserved, Rahul Sharma Last updated: July 20, See Best Forex Trading Platforms Download PDF Guide. See SA's Best Forex Brokers! Sort By Please Select Max. Leverage Minimum Deposit. Name Regulator s Max. Tickmill is a FSCA authorized forex broker. HotForex is regulated with FSCA South Africa. FxPro - NDD Forex Broker. FxPro is a well regulated forex broker. Their overall fees is low with cTrader account.

Exness - Low Fees Broker. Chapter 1 What is Forex Trading? Chapter 2 Understanding Currency Pairs. Chapter 3 How to trade Forex in South Africa? Chapter 4 Forex Trading Strategies.

Chapter 5 Forex Trading Platforms in South Africa. What is Forex Market? Forex Trading: Real Life Example Have you travelled abroad to another country? This chapter will explain everything you must know about currency pairs. Let's begin! What are Currency Pairs? Currency Pairs Lingo Here we will explain all the important terms that you must know before understanding more about forex trading.

Let's begin this chapter! ZAR Accounts are available. Funds safety — Hotforex is regulated with South Africa's FSCA FSP No. So, your position sizing total lots should be calculated according to your risk. Another concept related to leverage is margin, which we will explain below. Below is an example of how a Sell Order works in Forex trading.

We will give you brief idea of these 2 trading strategies in this chapter. Which Trading Strategy Should you choose? Chapter 5 Forex Trading Platforms for South Africans. Let's go…. Note: Some forex brokers charge high trading fees, so you must make sure to compare the spreads of major CFD instruments at different forex brokers before choosing.

This is the reason that it is highly liquid, so you can easily open and close trade on most of the currency pairs, and you never have to worry about a particular pair not being available for trading, especially for the Major currency pairs.

Regardless of the execution model of your forex broker, you should get the fill of your order in micro-seconds, if your broker is good. Most forex brokers now have quick order execution.

Read our complete guide for beginners. Last updated: July 20, Retail Forex Trading involves speculating on the rise and fall of currencies with an aim to make a profit. South Africans can legally trade in the foreign exchange market via any FSCA regulated forex broker authorized for offering Derivative instruments to traders in South Africa.

But there are many risks are well associated with CFD trading. This guide will show you the basics on how to get started with forex trading as an absolute beginner.

If you are searching for regulated forex brokers in South Africa to trade with then see our table below:. What is Forex Trading? Chapter 2. Understanding Currency Pairs. How to trade Forex in South Africa?

Forex Trading Strategies. Forex Trading Platforms in South Africa. Simply put, you buy a currency when you believe its value is going to appreciate go up against the other currency or you sell a currency when you believe its value is going to decrease go down against the other currency.

Sounds confusing? No worries. This guide will show you the entire math behind the trade. Forex refers to Foreign Exchange, or simply FX, sometimes even called Spot FX, where the global currencies are traded against each other. while visiting your bank. These are the rates of the currencies from the live Forex market.

Forex is the most liquid market in the world , operating 24 hours a day, nearly five and a half days in a week. The market participants in Forex include commercial banks, governments, central banks and institutional investors, currency speculators and even commercial corporations wanting to hedge their risks or speculate.

If you been to a foreign country, then it is likely that you may have converted your local currency i. South African Rand ZAR to another currency like Euro or a US Dollar. If you exchanged your currency before, then you have already traded in the forex market. In this example, you would be physically selling your home currency South African Rand for buying US Dollar. When you are exchanging your money for travelling abroad, you through your bank are making a forex transaction in the global forex market without even knowing.

The rate at which you can exchange your currency to another is called the Exchange Rate. This rate is continuously fluctuating every second as the forces in Forex market determines the rate. If the ZAR's exchange rate in the live market is R The difference of R0. In theory, Retail forex trading through an online broker is similar to currency exchange, but still there is more to it.

Don't worry, we will be explaining everything in the next chapters of this guide! Currency Pair is the quote of one currency relative to the other currency. In the Forex market, all currency are traded against each other, therefore being called 'currency pairs'. So when you are trading in the forex market you are actually trading 2 currencies simutaneously. There are other terms like a Base Currency, Quote Currency, majors, minors etc. Let's get to them. Here we will explain all the important terms that you must know before understanding more about forex trading.

You will hear a lot of these terms commonly while trading, so let's start. If you hear the local business news or a trader talks about the currencies like: "The South African ZAR edged higher againt the Dollar today, reaching a two-week high of And 'Ask price' is the price at which you can buy the base currency in the pair.

Bid price is always lower than the ask price. This is the fees charged by the forex brokers for each trade trade, and it depends on the market liquidity, and the currency pair that you are trading. The lower the spread, the better it is for you.

Simply put, 1 pip is the smallest measure at which the market moves. It is important to select a broker that charges the lowest spread in pips. We will explain this more in the chapters below. So, don't worry if you don't understand this now. The are are 7 major currency pairs, and these are generally the currencies of most stable and well-developed economies.

They are typical less liquid and more volatile than the Major pairs. Exotic Pairs: Exotics are generally major paired against a currency of emerging economy. Legally trading forex is now possible for all individuals in South Africa.

For trading forex, you have to signup with a regulated Forex broker to place your real trades in the market. Choosing a 'good' broker is an important step because the broker plays a pivotal role in your trade. There are many regulated forex brokers that accept South African traders: Hotforex FSCA Regulated , XM Trading , Exness, Forextime, Avatrade, FxPro, and so many others.

You should also decide on the Account Base Currency that you want to choose. We have only selected the brokers that are regulated with atleast 2 regulators including FSCA, FCA, ASIC, CySEC , have competitive trading fees, and transparent record for fair dealing practice in the past. Hotforex is our 1 recommended broker for Forex trading in South Africa. Start Trading at Hotforex Important: Forex Trading involves high risk, and your capital is at stake.

Note: Before you open your trading account with any forex broker, make sure to check that it is licensed or authorized by the FSCA for offering derivative instruments. Some brokers may claim to be authorized but may actually be unlicensed. Also, it is important to note that some fake forex brokers may use the license number of an authorized broker on their website, claiming that they are authorized, which may not be a true claim.

Check the products for which the broker is licensed. And verify that you are opening account on the website actually licensed by the Regulator, avoiding any clones. For example, Tickmill South Africa is authorized by FSCA under FSP No.

After you have made your choice on the broker, you then need to open your trading account with that broker. For ID proof, you can normally submit your Driver's License, and a Home Utility Bill of your Residence for the Address proof. You must verify your account before you can start trading live on any broker's platform.

Opening a demo account does not require KYC, but it will be required when you are opening a Live Account. An important question is how much money is required to start forex trading in South Africa? In ZAR the minimum is R70 at Hotforex. But it is advised to start with a capital that is not too low, otherwise you are likely to use very high leverage in order to gain more profits. And this puts your entire trading capital are huge risk with every trade.

We will first dive into some important terms that you would need to know while placing your trade. There are mainly lot sizes i. The number of lots that you can trade will depend on factors like leverage, margin, your risk threshold etc.

Otherwise you risk losing your total capital in a single trade. Let's understand this with an example. You risk losing your entire account balance on a single trade. Leverage: Leverage, by definition, essentially involves borrowing a certain amount of money to invest in something.

In Forex, if you are using leverage then it means, you are borrowing some money from your broker to place order for a bigger position than your actual capital. Don't worry, and follow through the following example. But what if you can lend money from your broker, and place the order. But Leverage is kind of a double-edged sword which has the potential to increase your profits if you are right, but also increases the risk of a bigger loss to you if you are wrong.

A leverage of allows the trader to take a position that is times the amount of initial margin. If the trader is not careful in setting up the stop-loss, it could quickly deplete your trading account. But if the trader is right in his trade, then he can gain from the trade.

But as you can understand from this example, the risks of using excessive leverage to trade forex is very risky. You must never use more than leverage. Margin: Margin is the amount needed in your trading account to place an forex trade. Forex brokers set margin requirements to open a trade, and this is the money set aside with the broker when your position is open. If margin goes down below a threshold required by the broker, you will receive a notice from the broker to fill it up to the required levels.

Stop Loss: Stop loss is the level that you can set, at your desired price where you decide to exit a losing trade. Losses are inevitable, but how you manage that loss is important. So always remember to set a stop loss whenever you are placing a trade. Some brokers also offer GSLO Guaranteed Stop Loss , which guarantees that your position will be closed at the price limit set in your order.

We will now take example of actual trading positions, and how you can place the trade in Forex market. Loss Case: But if the market goes against you, let's say to 1.

com Fees and Spreads TRADE. The reason — ProRealTime functions via its own server. You also have the option to opt-out of these cookies. cTrader FIX API allows retail traders to trade through FIX messages electronic messages that contain financial data from their cTrader account. The third point is to select appropriate Broker Type along with its structure of the fees , either based on spreads only variable or fixed spread, or to a mainstay on commission charges with raw spread offering.

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