Get more Mail & Guardian
Subscribe or Login

Where to look for forex trading in South Africa

This story is sponsored

  1. While not as headline-grabbing as share trading in the 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 — it just helps to know how best to get started.

    Local may be ‘lekker’

There is no shortage of international trading platforms, and trading forex — contracts for differences (CFDs) — in South Africa has grown into a huge market over the past decade. In short, by accessing trade in the price move in different currencies across the globe, investors are able to profit. The volatile tussle between the US Dollar and South African Rand has been one such gamble in the country for many years and is likely to remain so.

CFDs are more affordable to access than the stock market and you can also trade large positions; all you need is a device such as a PC, laptop, tablet, or smartphone, and an internet connection. But where to begin? A thorough survey of results yielded by the Google search keywords “trading platforms South Africa” quickly separates the “wheat from the chaff”.

Take some time to sift through the pros and cons the many reviewers offer on the various platforms and take a considered position. Public Finance International, for example, rates eToro the overall best trading platform in South Africa, claiming it is “… great for both beginners and experienced investors alike … and features a broad range of trading strategies to copy. This includes cryptocurrencies, forex, and CFDs trading strategies”

‘Exciting time to be trading the markets’

A drawback is that eToro’s forex and CFDs trading fees are extremely high. Local offering Khwezi Trade prides itself on trading on all the major currency pairs — as well as some minor ones — including commodities, and all major indices, and the company has decided not to offer derivatives on JSE-listed shares and cryptos. Forty currency pairs are available, seven commodities, 11 indices, and basic trading can begin for as little as R2 000.

Says Khwezi co-founder Mark Wurr: “This is an exciting time to be trading the markets, and we have gone to considerable effort to train our clients to trade successfully. We offer online video tutorials, and we have clients coming to our offices in Bree Street in Cape Town for personal, hands-on training and support.”

Visit:  tradingplatforms.com/za

About Mail & Guardian Sponsored Stories

The Mail & Guardian’s sponsored stories are produced in association with paying partners. We work closely with our partners to ensure all stories meet our standards of editorial quality, and offer information of value to readers.

If you would like to speak to our team, please contact us at this email address.

Related stories

Advertising

Today's top stories

Water sector to clean up its act

The Blue and Green Drop programmes are being relaunched to rebuild SA’s often poorly maintained and ‘looted’ water systems

Afforestation can hinder fight against global warming if done wrong,...

A simplistic approach to tree restoration without not properly accounting for the complexities of plant and atmosphere interactions can cause problems

Carbon tax to align to UN treaties

Amendments to offset regulations published on 8 July give clarity on big emitters carrying old carbon credits to a new framework

WATCH AGAIN: Ramaphosa addresses the nation

The president is expected to provide an update on lockdown regulations

Cape Flats gangsters, children die in fight over turf

Extortion rackets are part of a corrupt system that includes religious leaders, councillors, police and syndicates
Advertising

press releases

Loading latest Press Releases…

×