Forex Trading in South Africa
Due to the internet and computer age, forex trading has now become available to ordinary people like us. But this is still a new industry in South Africa and its hard to know who to trust.
I’ve spent the last few years researching the market, writing about brokers mainly and now I’m trading myself (for the last 2 years with mixed results) and writing about it here on my blog.
You can sign up for my newsletters and receive emails to guide you sweetly and easily through the process of either becoming a successful and profitable trader or simply make the money you want from a managed account.
I was alerted to the idea of Forex Trading by chance when a friend of a friend mentioned it in passing at a dinner party and many months later decided to investigate further.
After a long road, which I’ll discuss later in this blog, I opened my first live trading account in August 2014 and started with my broker’s minimum amount, $200.
I actually deposited $220 because I’m just funny like that.
The Three Steps To Forex Trading Success
Step One: Find a Credible Forex Trading Course/Mentor/Community
Finding Nial online saved my forex trading life.
Before I decided to follow his system, I was trawling the free forums trying to cobble together a coherent strategy but since I’ve started working with the method he teaches, I’ve really become a more disciplined trader and I’m focusing on honing my trading skills.
With lots of free content on his blog (covering the psychological aspects of trading), a very reasonably priced course (around $350, and always has an endless 30% off discount), a trading system that works for those who want to trade part-time or full time.
This course may not be the one for you and I do know of other courses that you can try that could be more appropriate to you, so get in touch with me for a chat, my details are below.
Step Two: Choose an honest broker
The button above will take you to Axitrader’s website where you can open a live standard account, use this link for a demo account, or if you’re an advanced trader, then please get in touch for their ECN type account (you get a free forex vps with this one).
Now I know that this is not a South African Broker, you can see a list of local brokers here.
I’m also an IB of this broker so if you open an account through my link, I’ll earn a small commission from your trading activity and I’d most appreciative.
So please…. Click Here To Open A Demo Account with Axitrader
Forex Trading can be daunting in the beginning and they offer a simple way to get into the forex trading opportunity in South Africa.
With Forex trading becoming accessible to more people, many are trading and with some dedicated practice, especially the arts of patience and discipline, anyone can become a successful trader, from earning some extra income every month, or to building it into a full time business, or even a regular salary to replace their usual day job.
Why I wrote this article
To be honest, initially it was just because I wanted to rank for the keyword “Forex Trading in South Africa” and monetise the traffic and while I was once on Google’s front page and managed to get some decent traffic, now I just want to help as many people as I can navigate this tricky business.
What follows ares the latest blog posts about that I’ve composed about Forex trading. Its a mix of my own live trades and other valuable content I’ve found online.
I’ve spent lots of time going through the horrible stuff that’s online and here I’ve collated some of the best.
My Latest Blog Posts
There’s a fundamental change happening in the Euro with a hawkish sentiment in euro pairs.
On Wednesday there’s a news opportunity when the Bank of Canada releases its rate statement. The futures market has priced in a 90% chance that rates will increase and if they do not hike and cool their hawkish rhetoric could see a fall in CAD pairs.
Watch the video for the rest of the analysis.
Many traders these days are convinced that technical analysis is the only way to go with trading the currencies, but Jarratt Davis, the Forex Trader shows his own twist on using Fundamental Analysis in combination with Technical Analysis to become a success trader....
Jarratt Davis the Forex Trader discusses what fundamental economic activity will influence the markets over this week.
Chris Capre is the trader behind 2ndSkiesForex. He is a Buddhist, Trader and Philanthropist and focusses on a price action strategy, ichimoku trading system, forex trading strategy that works.
Learn how to trade by watching free videos by Al Brooks. Make money trading price action. Brooks Trading Course, 36 hours, 53 videos, excellent reviews, great value, only $349.
Seeing that I'm living in Italy for a few months, I was happy to hear that XM, one of my most active brokers for IB rebates conducted a seminar recently. Naples or Napoli is down in the south of the country, while I'm in the mid north, on the west coast and didn't...
In this video Anton Kreil talks exposes retail brokers and the various trading educators who entice people with promises of riches from trading and causes people to over trade with large position sizes and blow their trading accounts up in no time at all. ...
When should a trader withdraw profits from a trading account was a recent question I was asked at the website. In this video I go over my answer and opinion on this topic. If you have any feedback, questions or comments on this topic then feel to comment below the...
The LMAX Exchange has published research that seeks to transform how the global FX market understands the cost of trading and quality of execution. The paper aims to begin a period of FX industry engagement, debate and agreement to better market structures that...
My story starts in February 2011 when I decided to Learn about Forex Trading, you see, I wanted to earn lots of money very quickly to realise my dream of living in the country and earn an income without too much “work”. I was looking for the holy grail.
I signed up with etoro, on a whim, didn’t enjoy their OpenBook trading.
Then learnt about Meta Trader, and other platforms. I also investigated forex robots like FapTurbo, a forex robot, and while I was pleased with the results, it needs forex vps servers, and I realised that Forex Trading is not a get rich quick scheme, and its easy to lose money actually.
When I found LearnToTradeTheMarket.com, it literally saved my life, I eventually bought the course in August 2013 (it costs around $300 and well worth it, just don’t expect overnight miracles) and its given me a a great grounding in how professional traders behave consistently and the simple, easy to follow plan to take action on its already bringing me a successful and growing trading account.