They will happily accept you and provide you with the best trading conditions. To participate in Forex trading, you must deposit a minimum amount investment during the account opening process.
Forex Trading in South Africa
The amount of deposit varies from broker to broker. If you live in South Africa you may prefer to deposit and withdraw money using SA banks and local depositing methods, always check if your chosen broker allows you to deposit comfortably. Currencies are traded with a leverage in Forex trading. That means, only a small portion the margin of the total value of a position is necessary. It allows you to trade a much larger position with a small bet.
In order to trade one standard lot which is Leverage is double edge sword so be careful. The higher the leverage the higher the profits but also loss. Some forex brokers advertise a bonus for new forex traders. In most cases, the bonus offered by the brokers depends on the amount of the deposit and the number of trades within a certain period of time. For example: Bonuses are usually calculated as a percentage that is added as a free gift by the broker on the top of your deposit.
Please note that in most cases the broker will not allow you to withdraw the bonus. You can only withdraw the money you earned, using the bonus money in forex trading. On the foreign exchange market, a standardized contract, the so-called lot, is used. A standard lot has the equivalent of , euros. If the broker supports it, this value can be reduced to 10, euros mini-lot and 1, euros Mico lot. The spread is the difference between the buy and sell prices. The lower the spread, the lower the cost you incur. The respective height is variable for most brokers and can vary considerably depending on market conditions.
With a Forex demo account you have the opportunity to test the respective trading platform of the Forex broker without risk under real conditions with virtual capital. Many South African brokers can offer you besides forex also other assets. Floating 0. This account provides standard trading terms on the Forex market without there being any fees involved.
Once this account has been opened, the trader gains access to all the trading instruments InstaForex offers and the trader pays a fixed spread when setting a trade. This type of account caters for traders with differing levels of experience, from beginners to those who are more advanced. One of the main benefits and attractions of this account is its universality which allows traders to change the trading leverage floating leverage and determine a deposit size which will suit them better.
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The trader who holds this type of account will not be required to pay any spread when opening a trade. Zero spreads are applied for most of the trading instruments and this is always due to the Bid price being equal to the Ask price.
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In such a case where the price is higher than the Bid price by half of the spread, which is applicable for a certain instrument, it is then rounded up to its integral value. This account caters specifically for traders who are just starting out and who are still learning to trade. This is because it does not take into consideration the spread in the case of using pending orders. Even though this account is perfect for beginner traders to get used to a simpler system of trades, it also features characteristics that may be useful to more advanced traders as they are like that of the Insta.
Standard Account. Both these account types were specifically designed with beginner traders in mind by allowing them access to the minimal possible trade volume. These accounts have the following features:.
The only disadvantage with these accounts is the maximum allowed deposit size. This relates to their directivity to beginning traders especially. InstaForex also provides investors and traders the opportunity to invest in Forex projects by using a PAMM forex system. This system can be used by both traders and investors to invest in forex with the sole purpose of taking a part of the profit which is made. InstaForex also offers traders the option to open a demo account.
This feature is especially helpful to beginner traders, allowing them to get hands-on experience in trading in a risk free environment by using virtual funds. The trading of Forex along with the trading conditions involved depends on the type of account that the trader uses as each is set up differently providing different spreads and fees depending on the account and the currency pair being traded. Each of these has their own lot size and spread and there are no fees involved with trading these instruments.
With regards to shares, InstaForex offers trades in shares from some of the most popular companies in the world such as Apple Inc. When trading shares with InstaForex, traders need to take note that the lot size on each share is stocks and although the spread varies between the shares, there is a standard 0. When trading futures and indices, traders need to take note that each has its own tick size and cost, along with margin and specific times in which these instruments can be traded along with a set expiration date.
The fees on all of these is set at 0. MetaTrader4 is one of the most popular trading platforms in use within the trading community and comes packed with an array of features such as:. Both MetaTrader4 and 5 are compatible with mobile devices and tablets that run Android and iOS software, and laptops along with desktops that run Windows.
This is the new and improved version built from MetaTrader4, which still has a lot of the same functions and features, but also has new features such as:. With this platform, traders can work with not just one, but several InstaForex trading accounts all at once. This handy tool works especially well with account management, where traders need to manage the accounts of their clients. This trading platform was designed by InstaForex and is only available to its own clients. This is another innovation by InstaForex which is designed to make tick trades. The features of this platform include:.
It is regulated by CySec.
How to Find the Right Forex Broker
Some brokers provide only one, others quite a few platforms. A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade. MetaTrader 4. This trading platform offers a modern graphic interface and regular updates and is accessible through a web interface.
Forex trading describes the currency exchange market which refers to the global, decentralised marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates. Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation. The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth. Traders can trade in a wide variety of instruments and currency pairs. Exness was founded in and since then the brokers has undergone significant developments.
Exness accepts traders from South Africa, in fact it is one of the the fastest-growing ZAR Account brokers in the country. Exness is also the inner of the prestigous SA Shares award for the fastest growing broker on the African continent. The Exness brand is represented by three different corporate entities. FXTM is a well-regarded broker with a strong focus on educating new traders. There is a good foundation of educational material at FXTM for beginners but maybe a bit lacking in material for the more advanced trader.
By keeping the focus on beginners looking for reasonable trading conditions, FXTM has created a welcoming and user-friendly environment for new traders. For the absolute beginner, FXTM has a great deal of training material to help new traders get started. For the more advanced trader, there is an additional set of videos that cover analysis topics, and more detail on chart reading techniques.
XM Group is considered to be one of the brokers in the market with the most extensive experience and in-depth knowledge of the global financial market. XM Group is a good broker and for beginners, there are vast quantities of educational material, market analysis, webinars, and seminars held around the world. There are a few things that make Alpari attractive and unique to both beginner traders and experienced traders alike. As a Strategy Manager, other traders can copy your trades, and you make a percentage of their earnings.
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Alpari also offers a variety of account types, advantageous trading conditions, and quality customer service that makes this a good choice for all types of traders. GO Markets is a solid broker with lots of features. Go Markets probably fits all kinds of traders whether you are a beginner or experienced trader.