What Is Forex Trading and Why Do South Africans Do It? Forex traders in south africa’s understand the science behind forex in a very simple way.
It is a decentralized market where one can trade various currencies. All transactions occur over computer networks that connect traders around the world. South Africans mostly invest in the mighty US dollar, and since they can enter the system with as little as 5000 ZAR, everyone seems to have grown an interest towards it. In layman terms, leverage essentially means that you can trade more than your initial deposit. To put this into perspective, not only can you enter the market with a small investment, you can also trade big with that money. As long you possess a computer, smartphone or a tablet, you are good to trade from anywhere you want.
The ease of use and accessibility is a major motivator for people in South Africa and worldwide. A small research on social media is enough to locate plenty of traders offering free courses. The trading community is trying to expand itself rapidly in South Africa. When the money making science is being freely distributed, who doesn’t want to give it a shot? Durban and Cape Town already are home to a large community of forex traders. As with every investment, even forex trades are subject to market fluctuations and risk.