South Africa Forex Brokers.
The primary function of every forex market is to convert the currency of one nation into the currency of other nation. This is the overall and simplest explanation that you will find regarding forex trading. Here is a brief example – the Rand can be switched to Euros or Chinese Yen – that’s it!
However, the amount of the currency that is converted depends on the exchange rate which can be fluctuating or fixed. Some countries like America have their currency fluctuating based on the market demand, and there are other nations such China that the rate is being determined by their central banks. However, there is one country that is more “interesting” and you will need advice if you decide to deal with forex trading in South Africa.
The best advice you can get regarding forex exchange trading in South Africa is to get a broker. Of course, in order to choose a good one you will have to have at least minor experience and remember to look for things such as – clear account closure procedures, transparent account processes, no hidden fees or taxes, demo accounts, low deposit amounts, strong security and lw commissions.
The exchange rate in South Africa changes on daily basis. The change depending on many factors such as the demand for different currencies! When this happens, you have to know that the risks are getting higher as well. In order to do the best, make sure you find a broker that allows you to make forward transactions with binding agreement at fixed rate.
You need to choose wisely your forex company in South Africa simply because the foreign exchange market there is as fluid as it is. It is highly recommended to get to know most of the brokers and choose wisely.
In order to increase your profit and generate it to the max, it is really important to find a suitable partner that knows everything about the liquidity, volatility and market fluctuations of South Africa. Below we will post a list of some brokers that have proven their abilities, all you need to do is to choose the one you think will fit your needs;
Where to Trade.
$5 Min Deposit!*
Pepperstone.
$100 Min Deposit!*
$10 Min Deposit!*
Michael is an active trader and market analyst. He has participated in surveys regarding trend-following trading systems.
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BinaryTribune will not be held liable for the loss of money or any damage caused from relying on the information on this site. Trading forex, stocks and commodities on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
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Forex trading company in south africa

Career Opportunities for Forex Traders.
I am often asked by people who are interested in learning to trade what the career opportunities for forex traders are.
In this document I shall try to explain the career opportunities for a forex trader in South Africa.
I believe the information will be of value for people who are located in other countries as well.
1. Trading your own account.
2. Trading other people’s money.
3. Trading for a company.
4. Becoming an independent forex trader.
1. Trading your own account.
There unfortunately is no quick fix or recipe for learning to trade successfully.
In order to develop into a successful trader, you will have to spend many hours studying graphs, searching for patterns, testing indicators, applying and developing your trading method and trading skills.
Naturally if you started your trading career by doing a high level training course like the Forex Masters Advanced Training Course , you would have saved many hours (and years) of experimentation. There is absolutely no need to reinvent the wheel. Use the skills and knowledge of advanced traders to your benefit.
You will be able to immediately start at a higher level than the average trader because of your much better insight into market moves which will enable you to identify perfect trade setups very quickly and accurately.
A successful strategy will unfortunately not guarantee success!
Success in trading is.
20% the trader’s methodology.
Knowing a good strategy is not enough to turn you into a good trader.
You will now have to learn to work with strict discipline.
You will have to develop patience , and lots of it because you may have to wait for hours at a time to find a perfect low risk – high probability entry point.
Some people told me that I must understand that they are very busy, they do not have the time to sit and wait for the graphs to move!
I tell them that they must not see the time they spend waiting for the ideal opportunity according to their trading rules as time that is wasted. It is actually time invested into a successful trade! Waiting for the perfect moment before you enter a trade is an extremely important part of a successful trade.
You will also have to learn to cope with stress. If you cannot develop the habit of sticking to your rules under stressful conditions, you will start to make mistakes. These mistakes will result in losses. The losses will result in a loss of confidence. People who lost their confidence find it extremely difficult to trade successfully.
If you work hard to develop as a trader, to understand the markets and market moves, to identify trade opportunities with pin-point accuracy, your success rate will start to go up, your confidence will increase and it will become easier to trade.
You will start to experience financial independence.
You may get to the point where you decide that you do not need to work for a boss anymore. You want to become a full time trader.
Please make sure that you have enough cash in your account when you get to this point. If you do not have enough margin (= money) in your account, you need to aim for very high targets every day in order to generate enough income to sustain your level of living. The stress of reaching this target may become unbearable, with the result that you may start to make mistakes, lose some money, and lose your confidence. Trading will become very difficult.
My advice to all people is to trade part time as long as possible in order to give yourself enough time to develop into a good trader without experiencing a lot of pressure.
If you have enough money in your account, even small targets will make a lot of profit and it will be much easier to reach your monthly target.
The benefits of trading your own account are numerous:
• You are your own boss.
• No more getting stuck in traffic every morning,
• No more frustration of working for a boss.
• No pressure on you to please other people!
• You can work whenever you want to.
• You can take leave whenever you want to.
• You can go wherever you want to, and do what you like most.
You will have to agree with me: This is the ideal situation!
• If you go on leave, or get sick, there will be no income and you will have to spend some of your saved money.
You can now even consider it to make part of your money available to professional traders to trade it on your behalf . (Info on this website)
• You will experience that there is now a lot less pressure on you to perform.
• You are not forced to make a lot of pips when the market is slow.
• If you go on leave or get sick, there will still be an income.
• By spreading the risk, the trading became safer.
• You can relax and enjoy life!
My recommendation to people is to trade their own money and become financially independent.
2. Trading other people’s money.
People often ask if they can start trading other people’s money and take commission on it. This way they believe they will generate a lot of income for themselves very quickly.
In South Africa you are not allowed to trade other people’s money!
If you want to trade other people’s money and take commission on the trades or do profit sharing, you will have to register at the Financial Services Board (FSB) for a 2.12 license which will allow you to act as fund manager and do discretionary trading.
In order to get this license you:
1. need to have certain qualifications (example: B degree),
2. have to do examinations at the FSB,
3. need a minimum of 3 years of experience in trading managed accounts (as trading on behalf of other people is called).
It is extremely difficult to obtain this license. It took me more than 5 years to qualify for this license.
The Financial Services Board is very strict in this regard. A person trading other people’s money in South Africa without this license can receive a R1 million fine or a 5 year’s jail sentence. It is not worth it to take a chance.
As long as everything goes well and your friends keep quiet, there may be no problem.
Unfortunately if anybody tells anybody else and the news reaches the FSB, or if you lose some money, you will be in serious trouble. You will be taken to court and can get the fine or jail sentence.
Stay within the limits of the law!
3. Trading for a company.
There are not many companies in South Africa involved in forex trading. Therefore job opportunities in forex trading are scarce.
If you can find a company and ask them if you can trade for them, they will first enquire about your experience. It is likely they will ask to see your FSP 2.12 license. If you cannot produce one, you will be told to go and get this license.
If you contact the FSB with the request to register for the FSP 2.12 license, they will ask about your experience in the trading of forex managed accounts.
• You cannot trade forex managed accounts without the FSP 2.12 license.
• You cannot get the license without having at least 3 years of experience in the trading of forex managed accounts for a registered company in possession of this license.
• You will find it extremely difficult to get a job trading forex managed accounts in South Africa if not in possession of this license.
In my opinion trading managed accounts on behalf of a company or on behalf of clients is too risky. Under the current law it is very likely that clients will sue you for losing their money. You will have to refund them and may go bankrupt in the situation.
Working for a company as a trader is not the best solution.
4. Becoming an independent forex trader.
Companies involved in the trading of forex managed accounts realised the risk involved, and started to adapt the way they operate.
Instead of accepting the risk of trading managed accounts where they need a license, they started to use independent traders to trade the money of interested people. They call this form of trading Auto trading, Copy Traders and other names.
How does it work?
Successful traders can register with certain forex companies / brokers as independent traders. Several of the companies listed on this website have this option available for successful traders.
You will have to open a live trading account with such a company, and trade your own live trading account for a period of time in order to build a record and reputation.
The company will publish your results on their website where it is visible for clients.
If they are impressed with your results, they can now link their accounts to your account and make some of their money available to you.
Every time you activate a trade, a trade will be activated on the linked accounts as well.
If you make a profit, they will make a profit. If you make a loss, they make a loss. They cannot complain. All they can do is remove their money from your account if they are unhappy with the results.
Because it is international people and you do not deal directly with the clients, the SA law has no effect. You do not need the FSP 2.12 license for this!
You get paid for every trade you do. You have to do at least 10 trades per month. There is no maximum limit.
The more you trade and the higher the profit, the more people will link their accounts to you.
At eToro you will get $500 per month for every 50 people that link their account to yours. If you can get 1,000 people to link to your account, you will get $10,000 per month which is more than R80,000 at the moment (exchange rate of R8.00 per US$).
You can stop trading any time, but then people will remove their accounts and it will take time to build a certain number of followers.
The income potential is really huge! You will struggle to beat this on your own.
So use the structures that are already in place, and get a company like eToro to market you.
Why did I recommend eToro for this type of trading?
A company like Insta Forex has more than 7,000 traders waiting for clients to invest with them. It will be really difficult to stand out and attract enough attention here.
At eToro it may be much easier to attract a lot of attention.
I have been informed recently by my eToro consultant about a guy who registered as a guru 5 weeks ago, and succeeded in the 5 weeks to get more than 1,000 followers (= people who linked their accounts to his). In less than 2 month’s time he is generating over $10,000 per month for himself as a passive income, on top of his own trading profits!
NB: If you are interested, use this link to apply for an eToro account:
Please let me know if you found this article of value, or need any additional information.
You are also welcome to contact me if you need more information on demo trading, forex training or the opening of live trading accounts.
I will do my best to assist you.
Contact me for more information!
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Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Top Forex Brokers in South Africa for Forex Trading.
Foreign exchange trading, or Forex trading, has always been one of the most popular profit-making opportunities in modern times, and thanks to technology, it is now available to anyone, any time. It is no surprise than that it caught the attention of one of the largest and fastest developing web markets of today – South Africa.
Thanks to the meteoric rise of internet users in South Africa, many of its citizens have been introduced to the profitable world of Forex trading.
With the average monthly income being close to 10,000 Rands, according to 2016 numbers, thousands of South Africans have turned to Forex trading as a way to supplement their income, or even make a living out of it. And given the liberations that the Reserve Bank has introduced in past years, it’s hard not to be at least tempted into trying your hand at Forex trading.
Deposit: $5 Leverage: 1:500.
Deposit: $100 Leverage: 1:294.
Deposit: $10 Leverage: 1000:1.
Deposit: $50 Leverage: 1:1000.
Deposit: $50 Leverage: 400:1.
Deposit: $100 Leverage: 200:1.
Deposit: $250 Leverage: 400:1.
The South African Rand is, unsurprisingly, one of the most popular assets to trade on by South African traders, with most Forex exchanges offering it as part of the USD/ZAR and GBP/ZAR pairs. The advantage of knowing major market influences like the unemployment rates and industry growth in South Africa but also having access to global events, gives locals an advantage that other foreign traders just don’t have.
Legality of Forex Trading in South Africa and the FSB.
When it comes to the legal framework, the legality of trading foreign currencies in South Africa isn’t quite as straightforward as it is in other markets, but it’s nothing you can’t wrap your head around. Basically, South Africa doesn’t specifically regulate Forex platforms as much as it does regulate the outflow of cash from the country. The South African nation is one of the few countries in the world to have set up a system of exchange control, and the supervisory body that oversees this system is the South African Reserve Bank (SARB).
Under this system, every transaction in South Africa which involves the movement of money in and out of the country is the subject of the exchange control system, with no exception. The system allows for payments to be made under specific circumstances, but any transfer of money to a foreign party must be reported to the SARB, which is exactly what most deposits and withdrawals at Forex brokers are.
As an individual, you have several circumstances under which you are allowed to send money. The only circumstances that apply to sending funds to Forex brokers is the annual offshore investment allowance and the single discretionary allowance. The offshore investment allowance is 10 million Rands per year, while the single discretionary allowance is R1million. Combined, this gives any trader from South Africa an allowance of 11 million per year. On the other hand, if you’re a business entity, you will have other options at your disposal.
Most brokers offering their services to South Africans will be regulated by internationally reputed regulatory bodies like CySec (Cyprus Securities and Exchange Commission) and FSA (Financial Services Authority) while there are but a few, if any, regulated by South Africa’s Financial Services Board (FSB).
The FSB is an independent body that oversees financial institutions in the country that are not part of the banking sector in order to protect the users of such institutions. As such, it is the only body you can turn to in case of any disputes. However, licenses from CySec, FSA, and other trusted regulators gives you the same level of protection, which is particularly useful considering the FSB has rarely been involved with Forex brokers.
Finding a South African Forex Broker – What to Keep in Mind?
When choosing what broker to use, the first thing you need to consider is whether the broker is licensed and registered with any relevant body or not. Needless to say, you should always choose brokers that hold a license to make sure you have the best trading experience. And apart from the license, the second most important thing to keep in mind is the quality of your broker’s offer. In short, it all comes down to having the right:
Unless you are planning on only trading Rand pairs, you should choose a broker that can offer more trading variety rather than just the standard offer. In general, most brokers will offer anywhere from 30 to 70+ currency pairs that range from the most popular currencies like the British Pound, Japanese Yen, US Dollars, and Euros , to other less explored options like the Ruble and Rupee . Most beginner traders go for the more familiar currency pairs like the USD/EUR , since they come with tighter spreads as result of their trading popularity. However, that is not to say that you can’t make a profit with pairs like the ZAR/USD . On the contrary, there’s plenty of value to be found in this market.
In short, it’s all about finding a combination of the right currency pairs with the best possible spreads. In today’s competitive industry, many brokers try to attract traders by offering better spreads than their competition. That’s why it always pays off to compare before you sign up.
The trading platform is another important step in the process, especially if you’re used to one platform over the other. Most brokers will offer from one to several popular platforms like the MT4, while some will even develop their own. The easier for you to understand your platform and tools, the easier will it be to start earning money.
The leverage offered by Forex broker can range from something as small as 10:1 to over 900:1, depending on the broker. A 10:1 leverage means that you can trade 10,000 Rands amounts for a R10 deposit, while higher rations will give you better opportunities. However, taking leverage is also risky and can lead to substantial loses, and as such it’s better left for the more experienced trader.
And lastly, if you want to enjoy more than tight spreads, pair variety and good leverage, you might also want to check out the bonus offer. Another way in which brokers compete against each other is by offering sign up and loyalty rewards to their customers. Some brokers will offer no deposit rewards while others will have additional promotions like trading competitions with lucrative prize pools, or similar incentives. Choose what speaks to you most.
Other Important Aspects.
When picking your South African Forex broker, there are also other important factors, apart from the trading offer and license. And although these are not the most crucial of features, the following are still vital to having the best possible trading experience with your Forex broker:
The payment methods offered by your broker are important, because some methods have a much faster processing time and fewer fees than others. While e-payment providers will usually process your withdrawals in up to 24 hours, banks might take anywhere from 3 to 7 days to do to this.
And depending on the broker, you might also be charged fees for withdrawing money out of your Forex account. While this is no longer a standard practice in the industry, there are still some companies that do this. There are also some brokers who charge account maintenance fees and apply other additional charges. That’s why it’s important to consider the fee structure, so that you can avoid any surprises down the road.
Resources are yet another overlooked factor that is just as important as any other feature of your Forex broker. Keeping yourself updated and informed can make a world of difference when trading foreign currencies, as most major market events can be foreseen, to some length. And apart from news and market insights, it’s also always a good idea to have valuable tutorials like video lessons and webinars at your disposal.
And finally, a good customer support team that’s always available will mean less time lost on resolving issues and more time spent on taking advantage of market opportunities. Apart from standard support channels like e-mails and contact forms, it’s also useful to have access to a direct phone line and live chat.
The regulatory body for non-banking financial institution is the Finacial Services Board (FSB), although they have rarely issued licenses to Forex brokers. But some brokers hold licenses from other internationally trusted bodies like the CySec and the FSA.
Profits from Forex trading is taxable, just like your normal income, based on the applicable tax rates. You should also know that you can list your profits on your ITR12 income tax return under foreign income.
Yes you can. A number of leading Forex brokers of today offer the South African Rand as part of the USD, EUR and GBP pairs. Some brokers might also pair it with other currencies.
This depends on the broker. Most leading Forex brokers won’t charge any fees for trading, although they might charge additional fees for account maintenance, withdrawals, etc.
The Rand is one of the most popular currencies mainly due to the fluctuations it has seen over the past years in its value against the Dollar and Pound. In recent years, ZAR trading has accounted for 1.1% of the global currency trade, with most of the trading coming from other countries, rather than South Africa.
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Best South Africa Binary Options Brokers.
For the best South African binary options brokers, it is important to read platform reviews written by users who have used the trading platform and interacted with the traders in question. This should be approached in an objective manner as some user reviews may be biased and inadmissible.
In such a situation, i. e., where the views are most likely biased, the bulk of the reviews will tend to be positive with a less percentage of users thinking otherwise, most likely due to poor trading as a result of their own incompetent trade analysis. Additionally, it would help to cross-check a chosen broker against the available whitelists and blacklists of trustworthy and untrustworthy agencies, respectively, from a reliable site.
Security of trading platforms is another characteristic that is invaluable to prospective and existing traders. This is because it reassures traders that their money is being handled safely. The result is quick deposits and withdrawals of money within a secure environment, hence facilitating the business in digital options.
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In addition, the best South African digital options traders are characterized by transparency. This means that the trading agencies are straight forward with their terms and conditions of operation and adherent to the same. This kind of work etiquette builds confidence of users in the agencies and consequently increases their credibility level. It is this development of trust between the platform users and the brokers that motivates and boosts successful trading of the users and develops the users’ loyalty to both those trading platforms and the traders.
Fourthly, the best trading platforms tend to have a large variety of trading options. Remember, the larger the number of trading options the larger the number of users on that particular platform. This is because with more trading options more user preferences are met and therefore the platform is able to provide service to a large number of diverse users.
Finally, quality customer care is a desirable attribute associated with reputable traders. Quality customer care involves easy communication between users and brokers, e. g. through . The former is purposed to enable users to ask questions and seek technical assistance when need be. It should be conducted by the trading platform owners expediently and politely. Quality customer care endears users to their traders as they are assured of assistance when they need to make inquiries, familiarize themselves to the trading platforms and to any updates made from time to time.
In summary, we can see that the best South African digital options traders ought to develop a credible and stable reputation for themselves through provision of quality services over time. In addition the agencies should be honest in conducting all their operations as they endeavor to maintain good reputations through continuous provision of quality services, close communication with their clients and constant self-assessment guided by user feedback.
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Risk Warning.
Your capital is at risk. Trading in Forex and Contracts for Difference (CFDs) is highly speculative and involves a significant risk of loss. The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This website is provided for informational purposes only and in no way constitutes financial advice. A featured listing does not constitute a recommendation or endorsement.
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