Yes, you can turn to global macro models and analyst expectations, but wouldn’t it be much more rewarding to succeed using your own knowledge and skill?Īfter all, if you are going to spend time trading forex you may as well enjoy it. If you do not understand what makes currencies rise or fall, you are dead in the water before you even begin. If you hate economics and don’t have the inclination to read newspapers or follow world news, then trading forex is probably not for you.įorex trading at its very core is about speculating on currency changes. Whatever you do, make sure you are comfortable that this is something you will succeed at. If you read this article and have any doubts about whether you have what it takes, we urge you to dig a little deeper – speak to someone who is successful at trading, take an introductory course, read a book.

Trading currencies carries risk and you should never trade with money you are not prepared to lose. The learning curve from beginner to mastery is expected, however, it is important to know that making money with forex trading will not result in instant success. Like with anything in life, learning something new can be challenging. There are some fundamental tenets of forex trading that will either pave or inhibit the way for you. In this complete beginner’s guide to forex trading in South Africa, we unpack the foreign exchange market and provide a step-by-step guide on how to decide if forex trading is for you. Visit our Gauteng offices in Pretoria, Midrand, Johannesburg, and Centurion. Why not? Because unless you have a magical crystal ball, predicting how currencies will perform, your success will largely depend on how much you know and understand about the world economy.

While entering the forex market in South Africa is as simple as ABC, deciding if you have the appetite and aptitude for forex trading is another matter altogether.ĭespite what some companies claim, not everyone will be a successful trader. How to start Forex trading in South Africa for Beginners: a complete guide Top 10 Forex Trading Courses in South Africaįorex trading courses will give you a good understanding of how to trade using the best strategies for success. There are some excellent courses and forex schools in South Africa, ranging in duration from 5 days to 3 months, they are competitively priced and well worth the investment. Best banks for Forex Trading in South Africa.What time the Forex Market opens in South Africa.Forex Traders to Follow on Youtube Forex Trader.

Forex trading courses free