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Forex Trading In South Africa

Thanks so much for clicking through to read my article on Forex Trading, I got interested in the topic and industry when I was a blogger and affiliate marketer and wanted to earn a passive income building an online publishing company.

What follows in the rest of the post is what I wrote when I started my journey researching this topic from Feb 2010. To summarise and encapsulate what I’ve learnt in from my journey’s and includes the three critical elements you need for successful trading.

My Story Briefly

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. I’m updating this post and writing this sentence on 30 October 2014 an my account sits at $700 thus far.

I probabaly won’t get too many opportunities to keep this post up to date with its current size but you can see my MQL5 signal in the widget to your right. You can follow me if you’d like.

The Three Steps To Forex Trading Success

Step One: Find a Credible Forex Trading

Finding Nial online has 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 link above will take you to Axitrader’s website where you can open an 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 might as well use Standard Bank to trade if you’re looking for a local solution, but because of the course I chose to do, who recommends using New York close charts for the particular strategy he taught.

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

Step Three is coming up soon, but first read..

My Forex Trading Story

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.

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, 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.

Now its your turn. Please tell me your Forex Trading story in the comments below.

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Forex Trading In South Africa

32 Responses

  1. Hi Haroun,

    I have been learning Forex trading and have done demo trading before moving onto live trading. I suggest you start practicing on a demo account. FXCM(UK) and ALPARI (UK) have demo accounts for free, you can set up a micro account from as little as $50, however I would recommend you start at least with $500, when you get onto the live trading.

    Good Luck

    Lin March 2, 2010 at 12:06 pm #
    • Profile photo of Haroun Kola

      Thanks for dropping by Lin and for your advice, especially thanks for the sites you sent me to, to learn more. They’re great :-)

      Haroun Kola March 4, 2010 at 8:09 am #
    • Yeah, I see. I have done demo trading too (2 years ago). Experience and only own experience. Now I have success on Forex!))
      Good Lock!))

      Forex Trade Software April 20, 2010 at 11:59 am #
  2. Hi,

    I’m learning trading and have done some forex. My main focus is JSE equities but the forex is very interesting yet difficult. For forex I’m using, I had some bad experiences with other companies…

    Perhaps I can assist you with a question or two…



    Peter March 6, 2010 at 8:44 am #
    • Profile photo of Haroun Kola

      HI Peter, thanks for stopping by here. I'd love your help, being just a newbie, I need all the help I can get.
      And I've got lots of questions!

      Haroun Kola March 18, 2010 at 3:11 pm #
  3. Two things:
    1st- Great looking website
    2nd- I’m also new to the whole Forex trading business and would like to wish you the best for your ventures into the Forex markets

    jacques March 9, 2010 at 11:56 am #
  4. I've created a new site, combining my new found knowledge of auto-blogs and my interest in Forex. I'm looking forward to earning a comfortable living when I finally make it to my paradise space of love.

    That's the end, and the means, is via these sites.
    Please visit and check it out :D
    My recent post How can I learn forex trading properly?

    Haroun Kola March 18, 2010 at 2:56 pm #
    • Profile photo of Haroun Kola

      How cool, I’m liking Intense Debate too :-)

      Haroun Kola March 18, 2010 at 5:04 pm #
  5. it would be just great if you report about the result of your forex niche investigation for example about every week. And may be we`ll be able to create the real community of forex professionals in the future

    Forex Robots April 12, 2010 at 7:30 am #
  6. I did a 2 day seminar with Share Direct with a guy called David Paul. It was great and I am having a lot of succes and fun. His strategies are realy woking for me. Hope you guys have a lot of succes as well

    Nicki May 10, 2010 at 4:45 pm #
  7. Profile photo of Haroun Kola

    Thanks for dropping by here and your comment. Good luck with your services :-)

    Haroun Kola August 27, 2010 at 12:53 pm #
  8. hi there Haroun

    i would like to venture into forex trading. how do i start and which brokers do i use?


    zaheer September 15, 2010 at 11:39 am #
  9. Hello Guru..glad to see your site is back! I am also interested in learning about Forex trading but still on the fence about it. Any suggestions?

    stork club October 5, 2010 at 10:15 am #
    • Profile photo of Haroun Kola

      A big one, check out
      They’ve got an excellent basic course that will give you an understanding of what’s involved :-)

      Haroun Kola October 5, 2010 at 4:27 pm #
      • thanks for the link Haroun…i will check it out. Have a nice day!

        stork club October 7, 2010 at 8:54 am #
  10. Profile photo of Haroun Kola

    Who’s an active trader?

    Haroun Kola January 23, 2011 at 11:01 pm #
  11. Hi fellow traders :-)

    I have been trading CFD’s for some time and recently opened an account with Alpari UK for Forex micro. Could someone explain to me how to go about transferring funds into the account, the bank wants to charge me R1000 reserve bank approval fee + SWIFT fee to transfer R3000 (+/- $400) which means 1/3rd of my initial capital, which I find insane!… If I were to go the credit card route instead, how would the reserve bank approval work? or are credit cards exempt?

    Gavin May 5, 2011 at 4:14 pm #
    • Profile photo of Haroun Kola

      I’ve never had any trouble transferring that amount if money via credit card transaction. It’s the SWIFT fees that kill you.

      If you use your cc, it’s the broker accepting your currency that’s dealing with the charges. Good luck and let me know how it goes with you!

      Haroun Kola May 5, 2011 at 5:58 pm #
      • is this safe???im taking of going into forex..any advice??

        Buffalo Sabres May 11, 2011 at 2:08 pm #
        • Profile photo of Haroun Kola

          Forex is very unstable, so you need to know exactly what you are doing. The safest way of making money through forex, in my opinion, is to create an affiliate site for forex, and profit by other’s who are looking for information, brokers, programs etc. Check out my forex site,

          Haroun Kola May 11, 2011 at 5:51 pm #
          • Profile photo of Haroun Kola

            when i was confronted with the possibility of learning about forex, or just creating site, i took the latter :)

            Haroun Kola May 13, 2011 at 4:43 pm #
          • Hi I found this website quiet informative, but Even if you not interested in actually forex trading you can still make money by being a forex affiliate. see my website on how you can make a success as a Forex affiliate:

            Daniel May 31, 2011 at 12:38 pm #
    • Profile photo of Haroun Kola

      Hi, I suggest using a credit card for this transaction.

      Haroun Kola May 11, 2011 at 6:41 pm #
  12. Profile photo of Haroun Kola

    I’m investigating the company ACM Gold, for this post

    Haroun Kola July 10, 2012 at 9:45 pm #
  13. Why you need some like? what benefit for you?

    Lương Duy Khánh November 30, 2012 at 6:30 am #
  14. Thank you Mayihlome Klaas Gareth Barnard Empress Tallowah for coming to the Seminar today. It was amazing, and I’m looking forward to many more wonderful opportunities to connect, gather and make money with Forex Trading… :)

    Haroun Kola February 26, 2013 at 10:19 pm #
  15. Hey Haroun, thanks for your comment on my blog. I personally enjoy etoro since you can always compare your decissions with more experienced traders. It’s especially important for newbie traders, who don’t have strong technical analysis knowledge,

    Forex Tutor April 29, 2013 at 1:08 pm #

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