Where to look for forex trading in South Africa

What to search for Foreign exchange (forex) trading has long been a safe and reliable way to shore up capital — it just helps to know how to get started. In light of the controversy surrounding Robinhood and the rise of a new generation of investors short-selling GameStop options, foreign exchange (forex) trading has long been a safe and reliable way to shore up capital. In South Africa, there is a lot of currency trading.

Trading forex — contracts for differences (CFDs) — has evolved into a large sector in South Africa over the last decade, and there is no shortage of international trading platforms. On brief, investors may benefit by trading in the price movements of various currencies throughout the world. For many years, the unpredictable fight between the US Dollar and the South African Rand has been one such risk in the country, and it is likely to remain so in the future.

CFDs are less expensive to trade than stocks, and you can trade large positions; all you need is a computer, laptop, tablet, or smartphone, as well as an internet connection. But where do you start？ A thorough examination of the Google search results

Take some time to comb through the benefits and drawbacks that the numerous reviews on various platforms give, and then make an informed decision. For example, Public Finance International ranks eToro as the best trading platform in South Africa, claiming that it is “... great for both beginners and experienced investors alike...” It allows you to mimic a wide range of trading tactics. This includes trading tactics for cryptocurrency, FX, and CFDs.

The fact that eToro's forex and CFD trading fees are extremely high is a disadvantage. Offerings from the neighborhood Khwezi Trade takes pleasure in trading on all major currency pairs — as well as a few minor ones — as well as commodities and important indices, and the firm has opted not to provide derivatives on JSE-listed shares and cryptos. There are forty currency pairings, seven commodities, and eleven indices to choose from, with basic trading starting at R2 000.

“This is an exciting moment to be trading the markets,” says Mark Wurr, co-founder of Khwezi. “We have gone to great lengths to teach our clients to trade successfully.” We have clients who come to our offices in Bree Street in Cape Town for personal, hands-on instruction, and we also provide online video lectures.