So how does anyone go about to start trading forex in South Africa?
The need for more information in regards to this fields has really emerged over the last couple of years, with more and more people joining the online market and want to learn about forex trading.
The forex market as a whole is growing at a fast pace, due to the fact that anyone can these days sit in the comfort of their home and trade online via an app or website of the chosen forex broker.
It is for that reason that we have decided to outline the simple steps for anyone to start trading forex online. So simply follow these steps and let us know if you have any questions from your side.
The first step is to sign up with a reputable Forex broker and we can highly recommend any of the two following brokers. They have offices worldwide, including South Africa and you will be able to contact them for assistance with anything you need to find out.
We would recommend that you start the learning process by getting a demo account at first, instead of a real account. With a demo account, you can start to trade with virtual money and test various trades. Both the above companies do offer demo accounts for beginners.
Once you have practiced on the demo account and do feel that you are ready, you can open a real account and start trading with your own money. The forex broker that you have signed up with, will be able to assist you with a real account and provide information on how to transfer the funds into their account.
Note: Currencies, Commodities, Cryptocurrencies and CFD’s traded on margin carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with leveraged financial trading before deciding to trade because you can lose some or all invested capital. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.
Forex Company Comparison:
Please see the various online forex companies reviews below:
Trade Forex, Stocks, Indices and Commodities.
|Demo Account: Yes|
South African Office: Yes
|Min Deposit: $250
Shaw Academy: FREE Financial Trading Course.