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1 Forex broker review and comparison website. We break down what Forex trading is, how it works, how to join a South African Forex broker and start trading, the terminology used along with supporting educational content. Before trading leveraged products a potential trader needs to understand the risks involved, the importance financial regulation plays in keeping trader’s funds safe, and how brokers charge clients commission. Then, you can make an informed decision of whether or not Forex trading is right for you, get trading insights from the education section, compare and evaluate brokers matching your needs. Regulation is trust in the investment business. There are major regulators and minor regulators and we took all of them into account. Trading conditions are the details of the product the broker has to offer the trader, and we compared them.
Platforms are the software a broker offers traders to trade on and tested each of them. The current broker rankings are calculated based on broker regulation, platform choice, and trading conditions for the clients. To see our full calculations in each of these areas, here is our Google Spreadsheet. We maintain memberships at each broker we review, in an effort to continually monitor them. Forex trading is the buying and selling currency pairs with the goal of making a profit from the fluctuations in the market. To open a trade, a trader must choose a currency pair, and the direction they anticipate the value of the currencies moving in.
As the value of the currency pair changes, the trader will close the trade for a profit or a loss. Currency pairs are leveraged products, which are traded via an intermediary Forex Broker. Leverage enables the trader to make bigger trades than what their account balance allows, by borrowing additional funds via the brokerage, but the trader is still responsible for the losses for the full trading amount. As such, using high amounts of leverage can cause significant account losses. What tools do Forex traders use? How to start Forex trading in South Africa? How to register for Forex trading?
How much money do I need to start Forex trading in South Africa? How to open a Forex trading account in South Africa? How to make money with Forex trading? What are the risks of trading Forex? Do forex traders pay tax in South Africa? What is the FSCA and the FSB? Is Forex Trading Right For Me?
Once you are set up, you can join a Forex broker which will be your connection to currency markets, and sign up for an account. In order to start trading Forex, you first need to find a Forex broker that suits your needs. The best way to do this is to find a transparent broker comparison website like this one, or meet with an Introducing broker who already has a relationship with a single broker and can give assistance to get you started. Start trading with a regulated Forex Broker. The registration process for Forex trading starts on the broker’s website.