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Thread: Trading Currency in South Africa

  1. #11
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    Forex trading can be really hard these days, like EURUSD last months, up down up down.. no clear trend.

    I suggest to trade GOLD (xauusd), really simple to spot trends and trends on gold are mutch longer than currency pairs.

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  3. #12
    Silver Member PlatinumWealth.co.za's Avatar
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    Quote Originally Posted by easy_trade View Post
    Forex trading can be really hard these days, like EURUSD last months, up down up down.. no clear trend.

    I suggest to trade GOLD (xauusd), really simple to spot trends and trends on gold are mutch longer than currency pairs.
    Definitely if your job/career is not trading and you want to do this to start out and see how it feels, trading resources like gold and platinum is a good start.

  4. #13
    New Member geroge5's Avatar
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    I am a beginner, I learn on a demo account to familiarize myself with the market environment before opening a real account. What currency pair would you advise ?.

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    Silver Member PlatinumWealth.co.za's Avatar
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    Quote Originally Posted by geroge5 View Post
    I am a beginner, I learn on a demo account to familiarize myself with the market environment before opening a real account. What currency pair would you advise ?.
    EURUSD is my personal favorite https://platinumwealth.co.za/insight...ical-analysis/

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  6. #15
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    In currency trading I prefer intraday trading, as the data required to do a bit more analysis, by means of the highest and lowest prices determine the day yesterday, then uses the moving average period of 24 hours to see the trend of price moves up or down from the average value

  7. #16
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    FreshForex have fast order execution and money withdrawal, the customer support are always responding properly to all my questions and concerns.

  8. #17
    Junior Member Dave Morrison's Avatar
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    I had such experience a lot of years ago. And I know a lot of people who could earn money and also who lost it.
    It depence on the strategy and your experience and knowledge in this sphere. If you are ready to do this seriously I would recommend. It's like a casino.

  9. #18
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    This is a not serious, but you could always join up with https://mymticlub.com/

  10. #19
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    Forex trading is quite popular these days in SA, but remember since its leveraged there is a high risk of losing money. Not to mention the number of scam brokers and shady gurus that are out there. For that reason, if you are a forex trader living in South Africa, look primarily for brokers regulated by the FSCA (which is the financial regulator of South Africa). By choosing an FSCA forex broker, you will be trading with a company that is overwatched and monitored by our local regulator.

  11. #20
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    Forex Trading can be very very profitable but it can also cause you to lose all your money really quickly. What will make you succeed in Forex is a proper trading strategy. There are so many out there but trust me about 99.9 percent of them are useless. If you want proper trading tools you should check out a company called Forex Genics.
    Last edited by Dave A; 16-Mar-21 at 07:23 AM.

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