Skip to main content

How Forex Trading Works

How Forex Trading Works ? In times past, only the big boys with big monies could trade Forex. As a result, Forex trading profit was limited to only banks and big financial institutions in South Africa and elsewhere. The capital required to trade Forex in times past was just too huge that ordinary people on the street could not venture into it.

Forex Trading in South Africa

Forex BrokersMinimum DepositAvg. Returns Rating Visit Site
1
deriv south Africa
R 100
99.05%
VISIT BROKER
FSCA regulated : Highly Recommended Forex trading Site South Africa!
2
iq options
R 150
99.57%
VISIT BROKER
FSA regulatedIQ Option
3
olymptrade South Africa
R 500
99.21%
VISIT BROKER
FSA regulated:olymptrade.com South Africa
4
avatrade
R 1800
99.51%
VISIT BROKER
FSCA regulatedcapital Trusted forex Broker in SA
5
LegacyFX
R 3500
100%
VISIT BROKER
FSA regulatedLegacyFX
6
fxgm
R 3800
99.97%
VISIT BROKER
FSA regulatedfxgm
7
xm  South Africa
R 70
Bonus Promotion
99.56%
VISIT BROKER
FSA regulatedxm South Africa
8
eightcap South Africa
R 1500
99.11%
VISIT BROKER
FSCA regulatedeightcap Trusted forex Broker in SA
10
exness
R 500
99.91%
VISIT BROKER
FSCA regulatedexness.com Trusted forex Broker
11
Plus500
R 3500
99.81%
VISIT BROKER
FSCA regulatedPlus500 Trusted forex Broker
12
cm trading
R 4500
99.89%
VISIT BROKER
FSCA regulatedcm trading Trusted forex Broker
13
Spectre
R 1500
99.89%
VISIT BROKER
FSCA regulatedSpectre Trusted Broker
14
Expert option
R 500
99.99%
VISIT BROKER
FSCA regulatedExpert option Trusted Broker
15
binomo
R2500
99.96%
VISIT BROKER
FSCA regulatedBinomo Trusted Broker
16
just forex
R1500
99.97%
VISIT BROKER
FSCA regulatedjust forex Trusted Broker
17
vintage fx
R1800
98.97%
VISIT BROKER
FSCA regulatedvintage fx Trusted Broker
18
capitalcom
R3500
98.98%
VISIT BROKER
FSCA regulatedcapitalcom Trusted Broker
19
currencycom
R3000
98.98%
VISIT BROKER
FSCA regulatedcurrencycom Trusted Broker
20
ironfx
R3800
98.90%
VISIT BROKER
FSCA regulatedironfx Trusted Broker

Things have changed today, however. Virtually everybody in South Africa can now trade Forex since you may not need more than $500 to open a Forex trading account. In fact, some brokers do not charge more than $250 as a minimum deposit on their trading platforms. It may also surprise you that some brokers only ask for as low as $10 as a minimum deposit to start trading Forex! Furthermore, you can deposit money into your trading account in Rand.

forex trading strategies

Learn before you start trading

Forex trading is not a scam as some may want you to believe. You can make a lot of money from it if you understand how it operates. Your forex trading profit can also be consistent if you take time to learn before you start trading. You can try any of the free sources of information on the internet to learn how to trade here in South Africa. Also, you can register with reliable outlets that are offering Forex trading courses for a fee. Whichever method you adopt, nothing changes the fact that you must learn about Forex trading if you want to trade successfully.

Register with a broker

You can only trade Forex on a Forex trading platform. You do not have to register with a Forex broker to access a trading platform, especially if you only want to “demo trade”; demo trading means practicing on how to trade using virtual money while being exposed to the same market condition like someone who is into “real trading.” Real trading involves trading with real money. You will need to register a trading account with a broker before you can start real trading.

learn forex trading south africa

Develop a trading strategy

You need a good trading strategy to make consistent forex trading profit. You can choose any of the trading strategies available for free on the internet or develop your own trading strategy, which is only possible if you have adequate knowledge about Forex trading.

However, you must back-test and demo-trade your preferred trading strategy before you start using it for real trading. “Demo-trading” and “back-testing” can help you to access the reliability and accuracy of your trading strategy. You can make more forex trading profit if your strategy has a high degree of accuracy. After testing the strategy, you can forward it to other professionals to help access it before you start trading with it.