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South African Forex Market
Abstract：The goal of retail forex trading is to generate money by speculating on the rise and fall of currencies. Any FSCA-regulated forex broker that is permitted to sell Derivative products to traders in South Africa is able to facilitate lawful foreign exchange trading for South African citizens. In 2017, it is anticipated that the daily currency trading volume in SA would be close to $19.1 billion USD. Additionally, with an annual trading volume of approximately $70 billion USD in 2016, the South African Rand (ZAR) is among the top 20 most traded currencies globally.
Due to the increased market liquidity, round-the-clock trading hours, and swift speed, you probably wish to start trading forex as an investment vehicle. But there are a lot of hazards that come with CFD trading. We'll do our best to cover all you need to know before you can begin trading, including how much it costs to get started.
It's possible that you want to get the answers to all of your questions but are unsure of where to begin. You will learn the fundamentals of how to begin trading foreign exchange in this course.
Steps to start trading forex in South Africa for beginners:
Learn the basics of Forex trading
Learn about the different Currency Pairs
Choose a broker & open your Forex Trading Account
Learn the different Forex trading strategies
Compare Online Forex Trading platforms
Understand the Risks of trading forex
Being conned is the main danger to avoid while trading forex. Brokers are among the greatest trading fraudsters. Fortunately, WikiFX is a forex research group that enables traders to examine brokers and scammer data. WikiFX compiles all of the broker's data and offers a grade, making it simple for traders to identify con artists. Both the app store and the play store offer the WikiFX app.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Read more
What Determines Currency Prices?
The price of currency directly impacts investor returns. Understanding the underlying causes of currency fluctuations can help investors make more informed decisions in the foreign exchange market.
Do More Liquid Currencies Yield Higher Profits?
Currencies with higher liquidity typically mean lower transaction costs and greater profit opportunities. This article will explore how liquidity influences profit potential and provide insights on how to capitalize on these opportunities in trading.
What is the Best Time to Trade Forex?
In the world of forex trading, choosing the best trading time is often the key to success.
Why Are So Many Winning in Forex?
Making a profit in forex trading is definitely possible, but it's not an easy task. Many traders face losses at the beginning because they don't fully understand how the market works and enter without proper knowledge.
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