Forex trading regulation in south africa




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Forex trading regulation in south africaForex Trading Regulation in South Africa

July 4, 2013 6:19 am

South Africa Is the more developed part of Africa, and it shouldn’t be a surprising fact that Forex trading is flourishing in this part of the continent. However, this doesn’t necessarily mean that the country’s economy is developing as well as most people would expect.

Despite this, it is an undisputable fact that the country has developed a lot over the past 20 years, and its economy, living conditions, government and community have made remarkable progress.

A huge contributor to the country’s economy is the South African foreign exchange market. It is becoming more and more popular among SA residents, and Forex trading has turned into the full-time job of thousands of people. The official currency used in South Africa is the ZAR. Although this isn’t one of the most popular currencies in the Forex market, sometimes it can have a serious impact on specific currency pairs.

Surprisingly, Forex trading isn’t so popular in South Africa and therefore many people don’t know if it is legal or not. The truth is that Forex trading in South Africa is absolutely legal, as long as you can find a reliable broker.

South Afrika Forex Brokers

The regulations, policies and changes introduced by the government in 2010 turned South Africa into a more welcoming place for traders and brokers, and experts anticipate a significant expansion of the South Africa foreign exchange market.

If you are considering starting a Forex trading career in South Africa, then there are some things that you should remember. First of all, you must be very careful if you decide to use the services of a South African Forex broker.

Many of them are just looking to take your money, because they are not licensed and use fake software that can’t be beaten. Read as many reviews as you can, and see if any of the broker’s past clients have any complaints regarding withdrawals, customer service, etc. After all you are going to invest your money, so make sure that you do it in the right place.

One of the strange things about Forex trading in South Africa is that many of the brokers there have a limit on the amount of money you can deposit into your account. This may be a problem for some people, but the limits are quite high, so we believe that the limit shouldn’t be a problem. The South African foreign exchange market isn’t much different from the markets hosted by the leading economies in the world, so you won’t make a mistake if you take part in it.

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