forex trading Archives - AfricaBusiness.com

11Feb

By MadelienNo Comments

Forex

Segregated Accounts and Forex Bonuses – Khwezi Trade has it all

The financial markets nowadays feature hundreds, if not thousands, of forex brokers who are trying to attract more beginner traders by providing outrageous offers and benefits. Traders who have been trading for a while already have it ingrained into them that they should never deal with unregulated brokers. The reason for this is extremely simple; unregulated brokers are not bound by law to ensure client fund security. In addition to this, these brokers are not overseen to ensure that they fulfil their financial obligations or provide a transparent, fair, and safe trading environment. The new over-the counter (OTC) regulation has been implemented by the local regulator, the FSCA, to combat bad players in the industry. Khwezi Trade, a division of Khwezi Financial Services (Pty) Ltd, is the...

30Dec

By Giorgi MikhelidzeNo Comments

Uganda News

Forex trading and the financial sector in Uganda

Uganda is a country situated in East-Central Africa with a potential of 42 million forex traders characterized by high diversity in terms of ethnicity and politics. As you may already know, its financial system consists of informal, formal, and semi formal institutions. Insurance companies, banks, and capital markets are examples of formal institutions, while loan associations and village savings stand for informal institutions, obviously. Nowadays 62% of the population of Uganda still doesn’t have access to financial services and only 33% of individuals in this country hold accounts in banks. Nonetheless, this region suffers both legal restrictions and low capitalization, yet it still has a well-developed microfinance industry. Moreover, the rural and micro-enterprise sectors account f...

18Nov

By Giorgi MikhelidzeNo Comments

Fintech, Forex, South Africa News

How to get started with trading in South Africa?

The foreign currency market may be speculated on legally and profitably in South Africa via the use of forex trading. Predicting price changes in currency pairings may be lucrative for South African Forex traders. The volatility of the foreign exchange market enables certain traders to make huge gains, with some even making millions of dollars. Because dealers will simultaneously sell one currency and acquire another, prices are given in pairs. Due to the small profit margins in forex trading in South Africa, generating significant profits might need a significant infusion of cash. Each of the world's top ten wealthiest foreign exchange dealers will make a fortune in 2021 by risking enormous sums of money in order to reap the advantages. The money you'll need to support your dre...

31Oct

By Giorgi MikhelidzeNo Comments

Forex, South Africa News

South Africans Are Moving To Forex Trading As A New Source Of Income

Forex (foreign exchange) is undoubtedly something you've heard or read about, which shows how widespread its use has become. However, there are a large number of people who are curious but do not have a thorough grasp of how the South African financial market operates or just do not know where to begin. As commodities, currency pairs serve as a representation of the value of two different national currencies in the forex market. The base currency is the first one stated in the pair, while the quotation currency is the second. FX trading is getting more popular as a result of the ever stringent financial reality we are all now confronted with, right? Here you may start making money without having to leave your house. To securely trade forex, you must choose a reputable broker that places ...

8Aug

By Giorgi MikhelidzeNo Comments

Nigeria News

Why is Nigeria’s central bank struggling to let go of the naira?

Due to the global pandemic, a lot of aspects of our lives were affected by negative circumstances. Those negative circumstances can be characterized with different rates, however, the influence on the global economy is the one that affects everyone’s life. When it comes to something that has such a major influence as covid you cannot blame anyone for that because it is a health-related issue but the outcome that we are facing right now is very tragic. A lot of people lost their jobs and tried to find many other ways to generate their profits and in some countries, national currencies are not controllable anymore. It is not a surprise that developing countries appeared to be especially vulnerable towards it while major economies are still standing steadily. Nigeria is not an exception in th...

21Jul

By Giorgi MikhelidzeNo Comments

Business, Democratic Republic of the Congo, Kenya News

Africa as an important participant in the global economy

FDI, also known as foreign direct investment, has been virtually solely concentrated in Africa on the exploitation and export of natural resources for over a century. However, the momentum has changed after the turn of the 2000 and the tendency has finally changed in recent years. Global investors are more likely to visit Africa for their people's promises than for their actual property. Oil and mining now have a comparatively proportion of long-term foreign investment, with most investors focusing on telecoms, retail, and services. Over half of the FDI in the last seven years has been in the extractive industry. In the 46 jurisdictions in sub-Saharan Africa, this tendency is much stronger. Between 2005 and 2011, almost half of the regional total investment was over one year—but the revers...

12Apr

By MadelienNo Comments

Forex

5 Best FSCA Forex Brokers in South Africa

Overview The Financial Sector Conduct Authority (FSCA) is the regulatory body in South Africa that oversees a variety of financial activities, including the provision of online trading solutions and services. It is a reputable and strict entity. Amidst the list of brokers that have applied for regulation through the FSCA, the following five have been granted permission to operate within the country and other African countries that do not have their own regulatory bodies and thus use the FSCA. ThinkMarkets Established in 2010, ThinkMarkets is a reputable STP broker that offers trade in a variety of financial instruments to a multitude of traders across the globe. ThinkMarkets incorporates the best range of online technologies with their suite of advanced trading platforms and tools, offeri...

IG South Africa’s Continued Commitment to Investment and Growth in South Africa

12Feb

By Africa BusinessNo Comments

South Africa News

IG South Africa’s Continued Commitment to Investment and Growth in South Africa

IG, a global leader in online trading, has had a long commitment to South Africa which is set to increase further. The company has operated in South Africa for ten years playing a key role in the growth of online trading in this sophisticated and growing market. IG is committed to robust local governance, and is pleased to announce that Mr. Ndabezinhle Mkhize has recently been appointed as Independent Chairperson to the Board of IG Markets South Africa Limited. Mr Mkhize brings over 20 years of local financial services experience to the Board, and is also joined by two Non-Executive Directors, providing diverse expertise and experience. Mr Mkhize joins IG as it embarks on a significant expansion in its operations in Johannesburg - more than 40 new, high-skilled, high-tech jobs are being c...

15Oct

By Giorgi MikhelidzeNo Comments

Fintech, Forex

Why is the fintech industry flourishing in Africa in 2020?

South Africa is moving very fast in the direction of the FinTech industry. The country is very determined not to be behind the whole show. They are also relaxing the regulations in order to help the flourishing of the FinTech industry. How South African FinTech development is transforming the foreign exchange landscape In South Africa, several years ago, almost all the Forex market trades were held by telecommunication. Today everything has transformed and 75% of trades are done online. Expanding the culture of financial technology was always important for the SA. Most of the people who are finding themselves in a good financial situation are involved in trading. FX platform development in SA is also helping the economy. The government is supporting the FinTech development in the country b...

How Much Money Do I Need To Start Trading Forex

28Aug

By Africa BusinessNo Comments

Forex

How Much Money Do I Need To Start Trading Forex

The quickest and the probably least helpful answer to this question is a fixed amount; say $500 for example. Many brokers do set a minimum amount required to open a Forex trading account. But if you want a more practical answer, then it gets a bit more complicated! This is because part of how much money you need to start trading Forex depends on what you are trying to achieve with Forex trading. It all also depends on a number of other factors, including your personal circumstances, trading style, and strategy among others. First, let’s address an issue that most tend to gloss over: risk management. This is generally the factor that separates successful FX traders from the rest. And how much money you have in your account plays an active role both in mitigating risk as well as shaping your...