About Webtrader The Standard Bank of South Africa Limited has launched a new trading platform, Webtrader, which allows for trading and investing in many instruments, across several international stock exchanges. Transparent fees and charges – the relevant fees and charges std bank forex trading disclosed prior to executing a trade.
Please note that Webtrader is currently restricted to South African citizens only. These professionals are there to facilitate your experience on the Webtrader platform and to ensure your investment objectives are met. Experience Webtrader with no obligation, sign up for a 20-day free demo account and start trading a full range of offshore products with a simulated USD 100 000. When you are ready to start actively trading, contact your Advisor to register for a Webtrader account. SBG Sec is an authorised user of the JSE Limited. 2013 The Standard Bank of South Africa Limited.
Moving Forward is a trademark of The Standard Bank of South Africa Limited. 2015 Standard Bank is a licensed financial services provider. While these “bucket shops”, as they are sometimes termed, may promise easy returns, there are big risks involved. Foreign currency is one of the toughest markets to trade and I have seen grown, men who are professional traders for the banks, emotionally break down when trades have not gone their way,” said a senior Standard Bank forex trader at a recent information session for journalists. He said most traders were ill-suited to the big stakes and high stress involved in trading currencies.
4 trillion-a-day market – is increasingly popular and outpacing the equity market, which looks staid by comparison. The most popular currencies traded are the US dollar, pound sterling, Japanese yen, the euro, the Australian dollar and the rand – one of the most liquid currencies in the world. The majority of the online trading offerings are based on spread trading or spread betting models. Currency traders will therefore be looking at making a profit from the currency moving from R7. The potential for big profits and losses in such liquid markets is obvious. There are a number of companies offering forex trading options in South Africa.
Many do not have a geographical presence here. Xforex, for example, has its headquarters in the British Virgin Islands. And if you dial its call centre, the operator will inform you that it is situated in Greece. Importantly, this means the company will not fall under the jurisdiction of any local regulatory authorities. Once a South African client has deposited their funds into an offshore bank account, they have little or no recourse should the firm fail to honour trades, refund money or meet market-making obligations. There are a few other issues to keep top of mind before leaping into the arcane world of foreign exchange trading.
Firstly, carrying a credit card logo – such as Mastercard, Visa or Diners Club – is no symbol that the enterprise is legitimate. It simply means it has the ability to process transactions against these credit cards. Secondly, one needs to make sure money invested with the trader is stored under one’s personal name in a segregated trust account, and not under the name of the trader. If the trader goes out of business, you as the investor wouldn’t then lose your money. In 2008, the local broker Dealstream failed to segregate accounts and client funds were used to manage the positions in the proprietary trading books, Many clients lost all the money they had invested with the firm. Lastly – remember that many of these firms offer attractive incentive bonuses to sign up to their offerings and employ hard-selling sales people who will encourage clients to part with funds, often transacting via credit card.
The system also allows access to indication rates and orders. Please note that due to the risks associated with foreign currency dealing, certain credit approvals are required before the module can be activated on your profile. Click here to access the FX Trading Demo. Standard Bank Join our international team and you could move your career forward from the start. Security alerts Due to the nature of the transactions that you perform on Business Online, it is important to reduce your exposure to online fraud. Trade Bitcoin and more with a global market leader in currency trading. Take your trading to the next level with additional services and resources.
The products may not be suitable for everyone – please ensure you fully understand the risks involved by reading our full risk warning. GAIN Capital UK Ltd is a company incorporated in England and Wales with UK Companies House number 1761813 and with its registered office at 16 Finsbury Circus, London, EC2M 7EB. GAIN Capital UK Ltd is authorised and regulated by the Financial Conduct Authority in the UK, with FCA Register Number 113942. All trading involves risk and losses can exceed deposits. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. Can anyone please make a few good suggestions on currency trading platforms. I have some training experience on fxcm.