How to start forex trading in south africa how to#
How to start forex trading in south africa plus#

How to start forex trading in south africa plus#

Commodities – Energies like oil, precious metals like silver and gold, plus softs like wheat and corn, are all popular with active day traders.

Alternatively, day traders may want to speculate on major FX pairs, such as the USD/EUR, USD/JPY, GBP/USD and USD/CHF. South African day traders may want to leverage their local knowledge to take positions on the USD/ZAR, EUR/ZAR, AUD/ZAR or GBP/ZAR.

Forex – With a daily turnover of more than $6.6 trillion, the FX market offers serious liquidity and ample volatility.

But equally, South African traders can also use CFDs to make predictions on the outlook of other major indices, such as the NASDAQ in the US and the FTSE in the UK.

Indices – Local day traders may want to use leveraged derivative products to speculate on the Johannesburg Stock Exchange.

Alternatively, do you want to take positions on huge global brands, such as Amazon, Tesla or Facebook? Consider whether you want to day trade local stocks on the JSE, for example, Naspers, Prosus and BHP Billiton.

Stocks – Equities can be easily influenced by news announcements and geopolitical factors, making them suitable for day trading strategies.

Ultimately it will depend on individual preference, but the key markets are: It’s worth getting your head around the top financial markets that lend themselves to day trading in South Africa. Best Markets For Day Trading In South Africa It is also illegal to speculate against the South African Rand (ZAR), though South Africans can freely day trade any other securities and derivatives they wish. The primary purpose of these regulations is to prevent money laundering through the largest financial market in the world.

South Africans must exchange their currencies through licensed banking institutions and foreign exchange companies. That being said, it is illegal to physically purchase foreign currencies (spot forex trading) from an online retail brokerage. South African residents may also trade forex CFDs and other financial instruments using offshore firms that are not regulated by the FSCA. This agency regulates the forex and CFD markets, licensing brokerage firms to operate in South Africa under their restrictions. It is completely legal to day trade in South Africa, according to the Financial Sector Conduct Authority (FSCA).

South African day traders can speculate on local stocks and forex pairs or they can buy and sell securities in international markets, including on US indices and cryptocurrencies like Bitcoin. The excitement and the opportunity to learn about emerging financial markets is a draw for many. The aim is to capitalise on small price fluctuations with some investors taking hundreds of positions each day to build returns.ĭay trading in South Africa is popular with aspiring investors and seasoned traders.

Positions are held from a few seconds up to several hours, with orders closed by the end of the trading session. » See all Trading News Posts How Day Trading In South Africa Worksĭay trading is the process of buying and selling securities within a single trading day.

How to start forex trading in south africa how to#

Find out how to start day trading in South Africa today. In this guide to day trading in South Africa, we list the best brokers and platforms while covering off local tax rules and our tips for success. As well as major international markets, traders can speculate on South African stocks and the JSE index, plus currency pairs with the ZAR.

Final Word On Day Trading In South Africaĭay trading in South Africa is big business.

Strategies For Day Trading In South Africa.

How To Start Day Trading In South Africa.

Best Markets For Day Trading In South Africa.