Forex trading forums list - Forex Trading in South Africa | MyBroadband
History of Forex trading in South Africa goes back to the mining era.
However, forex trading forums list trade was never available for the working class. In the past 3 years Forex industry is becoming more and more popular among South Africans as it is giving most "the hope of becoming a millionaire over the night".
lit I will come back to it in a bit. Before talking about the industry, let's talk about the official currency of South Africa: The South African Rand has been a rather stable currency over the period of the past five years.
However, the authorities have been very conservative when it comes to the offshore investment. Also, profit from your investment might remain offshore.
This also attract many Forex Scammers in South Africa. It is responsible for the monitoring and regulating all the non-bank financial mediators in the South African territory.
The FSB has the authority to impose unlimited fines on fraudulent companies. Moreover, it administers a customer complaints service. The Financial Services Board was established back in Also, forex trading forums list FSB attempts to foster systematic stability of financial services sectors and the integrity of financial markets and institutions.
The South Africa license allows traders in the country to open domestic trading accounts, which are much in demand given the forum government limits on the amount of cash they can deposit in foreign accounts without incurring steep taxes.
Nowadays, there are hundreds if not thousands of unauthorized Forex Training Entities, forex standard bank boksburg fund managers and many of those FSB regulated Forex brokers provide unreasonable execution.
If you want to talk about South Africa Forex training, you need to talk about greed first. The country is full of self declared Forex trainers hungry for traders' money.
Indeed, you can identify fake trainers from reliable ones by looking into their advertisement methods. The following is how you can distinguish reliable Forex trainers from scammers:.
Do they use risk disclaimer? While trusted Forex trainers will first talk about the risk first and make you sign a fprums disclaimer form. Do they tease you with money?
Scammers will show a stack of money in their hand and tell tradinv how much they made. However, trusted Forex trainers will only talk about the market.
Do they show up in Lamborghini? South Africa is a status country, scammers understand it very well. Scam South African Forex trainers often will show trafing in a Forex trading forums list probably on lease and talk about how great life is for them.
However, will not end up teaching you anything. Do they teach you what is MACD and give you certificate?
Scam Forex trainers do not have a clue about the market. They often will try to pick something simple, MACD, and talk about it for 2 hours and give you certificate for it.
Do they teach you for 2 hours for R? Scam Forex trainers, only forhms about how many people they can fit in one room.
They will get you there for 2 hours, will not serve you anything and charge you R to be there. Trusted Forex training will never be just 2 hours.
These scammers are not interested in education, they are interested in commission.
Originally Posted by Dave A. Norri had a pal who was into forex, wrote an interesting ezine about it as well, but I havn't heard from him for a few months maybe a year. Norri are you out there???
Originally Posted by Rich Uncle Pennybags. That is pretty much my take on matter as well.
A buying vested stock options of mine has been very successful in this "game" and managed to make a cool R1 million in one year in starting with only R50, Not bad for a 24 year old. It is very difficult to forex trading forums list the temptation when looking at returns like that, tradjng I'll wait until he pulls off that stunt a second time just to see how much beginners luck was actually involved.
Like any form of gambling, if you have some money lying around that you don't mind losing, it's as good a place to use it as any forex trading forums list Hi fradingjust came across this post. I have been trading forex for quite some time and there are a few things everyone should know before going into this market.
It's not easy, there is a lot you have to learn before putting a cent into this market. It's not a get rich quick market, yes there are the odd person forex trading forums list makes a million from very little but vorums everyone of them there are a thousand who lose everything.
tdading Forex training is extremely expensive and the capital you need to trade effectively is the same as you would need to buy a decent established business. Finding a product trading system, education etc.
If you don't forex trading forums list time rather look for a managed forex account then trying to trade yourself whenever you get 5 minutes, this will let you lose your money very quickly.
Having said all this it's a wonderful market to be in once you frums a certain trading forums list forex, the thing to remember is it is not forex trading forums list game it is a business and should be taken seriously.
Hope this helps, not sure what the rules are about posting links on this forum as this is my first post but I would be happy to forex xo indicator anyone with info to start off on the right foot should you be interested.
There are a few really great FREE sites that will get you going - The first is babypipsthey have a fantastic free forex trading course, check it out.
I hope this has been helpful. Last edited by Dave A; Jul at Thank given for this post: I would be happy to provide anyone with info to start off ofrex the right foot should you be interested.
Trading currency and commodities is extremely risky as these stocks are extremely volatile. In my opinion you should be in front of a binary option box from en to close of the stock exchange and you have to sell out before close because you never know what will happen over night, forex trading forums list also have to know what's happening in the world, you have to study behavioral investing on top of everything else.
You can make or lose big amounts of money in literally list forums forex trading, but make no mistake this is no easy money, remember that nobody can predict the markets, forex trading forums list people are literally gambling. I'm not sure if any of you have seen a show on dstv where there are people from different backgrounds and jobs that trade on the market, for the last 2 years the people that won and made most money had no clue what they were doing, that shows this is gambling for them but it also shows that knowledgeable and educated on the subject people didn't do as sp trading signals.
I personally never trade commodities or forex, quick money can leave you broke!
Description:If you're a South Africa native or a foreigner looking to try your hand at Forex trading in South Africa, here's a complete guide on everything you need to know.