Welcome to Forex Trading South Africa and we are going to be examining everything that is forex in the weeks and months to come. The Forex market has grown tremendously over the years and with more and more people joining the online revolution to trade online, we decided to create this website in order to assist people in making the best choices online, when looking at trading forex.
With Forex trading
there are many companies out there that do offer forex trading platforms, but we have tried and tested quite a few and will only be recommending in our opinion, the best companies out there to start with.
When trading forex, you can choose between many forex pairs, but the one that is the most popular by far is the EUR/USD pair and most people choose to trade with this pair. We ourselves have traded with the pair quite a bit and have managed to make profits in the fluctuations of the various currencies, in the short and long run.
When looking at online forex trading, you can basically choose between a short strategy, that will enable you to monitor the fluctuations constantly to trade through buy and sell. The long-term approach is targeted especially at looking beyond a day or two and making sure that your currency choice with either increase or decrease and making the trade accordingly.
We will discuss this is much more detail in the coming months, but for now enjoy our website and read through all the various pages and look out for the recommended companies that we will feature on the website, to start your online trading career. Please note that we only offer advice on what we have learned over the years and please do remember to trade responsibly with any funds, in order to avoid losses.
LATEST NEWS: How does Forex Trading work in South Africa?
This question has been posted to us quite a few times and we decided to outline in more detail how forex trading work in South Africa.
The great thing about trading online is that you can basically sit anywhere in the world and trade online, as long as you have an internet connection. But saying that implies that you are setup correctly and using a broker platform to trade online with.
Now this is where we get down to the finer detail in terms of which online platforms is the best to trade with in South Africa. In our opinion we can only recommend Ubanker South Africa.
LATEST NEWS: Forex Trading for Beginners
The awareness and interest in forex trading has certainly increase drastically over the last couple of years, with more and more people looking at additional income and even starting a career around online trading.
When starting out as an online trader the prospect can be daunting and that is why we are here to assist beginners in the process of online forex trading.
LATEST NEWS: What is Forex Trading?
This question has been posted quite a few times as well and we will be explaining this to our loyal readers in finer detail. Forex trading is basically the process the entails whereby orders is placed via a broker on whether a specific forex currency will go up or down.
With forex trading you can also choose to have a long-term strategy or more of short-term strategy that you trade with immediate fluctuations in the market.
LATEST NEWS: Forex Trading in South Africa
When looking for resources in forex trading, you can find loads of websites and blogs dedicated to this for countries overseas, like the USA, UK, Australia etc, but very few related to South Africa. That is why we decided to create this website, in order to assist local traders to get started with online forex trading.
Forex trading in South Africa have really boomed over the last couple of years, with more and more people looking into this as not only an additional source of income, but also as their main career.
South Africa's location in this regard, since we are perfectly positioned to trade alongside Europe, but also in the US and Asian markets that open first every weekday. The fact of the matter is that more and more people in South Africa is accessing the online market via their smartphones and this is why choosing the right broker that offer mobile functionality, combined with an app is of the utmost importance.
LATEST NEWS: Forex Trading Tips
Any market, whether forex or commodities, are similar in their patterns. It tends to consolidate, by moving "up and down" between a certain price range. A breakout occurs when the directions of price rise of fall towards new highs and lows and out of the consolidation pattern. The difficulty with this type of trading is that you will be wrong 50 - 60% of the time, which are very difficult for the most traders to stomach.
You will make money out of trend trading by consistently identify break-outs and trade them. While doing so keep your stop losses in place, to be taken out of a wrong trade. About 50-60% of these trades will turn against you, but once a break-out do realise, you will make a huge gain, that can be offset against all the small losing trades.
Do you want to find out more about online trading and how to trade forex?
Please complete the enquiry form below and one of our consultants will contact you.