Advantages of Forex for South African Traders
- Forex traders have access to a wide range of global currencies and are not restricted to the rand or other SA assets.
- In times of political and economic uncertainty, it can be wise to diversify your investments and spread your funds around.
- Forex trading offers a high degree of independence, flexibility and personal responsibility. You are in charge of your own investments.
Thousands of South Africans have been checking out forex sites around the world. Unfortunately, there aren’t many good learning resources for forex trading for beginners in South Africa, but Opteck has been working to address this issue. It’s free to join Opteck and they have a highly recommended online trading education center for registered users. The Academy is packed full of forex trading tips, and educational resources such as video courses aimed at three experience levels (beginners, advanced and professional). There are also eBooks and modules teaching forex trading strategies. Opteck believe – and we agree – that you can build the foundations for a trading career using the education center.
Forex trading for beginners in South Africa is a fairly simple and straightforward process with Opteck. Registration is free and you have a choice of trading account types depending on your budget and experience level. It’s easy to deposit and withdraw funds using credit cards, wire transfer or e-wallets and you can invest whenever the financial markets are open (usually 24/5). SA is pretty much in synch with London and Europe and your schedule will probably let you follow the US markets too. Nighthawks can catch the forex action in Asia and Australasia.
5 Great Forex Trading Tips for Beginners
- Develop your knowledge of all SA assets and financial events if you intend to trade the rand. Follow the economic news closely and understand how political and other domestic events also affect the value of the currency. Apply this principle to all currencies that you trade.
- Use proven forex trading strategies (these are explained in the Opteck education center). If you invest at random, or on impulse you are gambling. The markets can be merciless and gamblers invariably lose in the long run.
- Sign up for webinars and 1 on 1 trading sessions. They are a really useful tool for improving your trading skills and keeping up with new forex developments.Trading is a 24-hour process. You need to be alert to opportunities and ready to exploit them fast. We strongly recommend installing Opteck’s mobile app.
Learn everything you can. The millionaire forex traders got to where they are because they never stopped studying the financial markets.