All Share (J203) = 98 687
Rand / Dollar = 17.73
Rand / Pound = 23.78
Rand / Euro = 20.61
Gold (usd/oz) = 3 349.44
Platinum (usd/oz) = 1 436.40
Brent (usd/barrel) = 69.21

Trade +10,000 CFDs with Tight Raw Spreads. – Trade Now!





Forex Trading in South Africa – For Beginners

Forex Trading in South Africa – For Beginners - Main Banner-min

 

 

In this in-depth guide, you will learn:

  • Best Forex brokers in South Africa for beginners.
  • Is forex trading legal and safe in South Africa?
  • How to trade forex on your phone in South Africa.
  • FSCA-regulated forex brokers for beginner traders.
  • Free forex trading lessons for South African beginners.
  • A Breakdown of Forex Trading Account Types.
  • A Conclusion on Forex Trading for Beginners.
  • Frequently Asked Questions about Forex Trading.

 

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

FSA, FSC, FSCA

$20

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#10

FSA, CySEC, FSCA, FSC

$10

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.4/5

User Score

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

FSA, FSC, FSCA

$20

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#9

FCA, FSC, FSCA

$200

#10

FSA, CySEC, FSCA, FSC

$10

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.4/5

User Score

 

Forex Trading in South Africa for Beginners – A Detailed Key Point Overview

  1. ☑️What is Forex Trading?
  2. ☑️Is Forex Trading Legal in South Africa?
  3. ☑️How to Start Forex Trading in South Africa
  4. ☑️Choosing a Regulated Forex Broker
  5. ☑️Beginner’s Guide: How to Start Forex Trading in South Africa with a ZAR Account
  6. ☑️Forex for Complete Beginners – Market Basics
  7. ☑️Developing a Trading Strategy as a Beginner
  8. ☑️Risk Management in Forex – Best Practices for Beginners
  9. ☑️Top 10 Forex Trading Tips for Beginners
  10. ☑️FSCA-Regulated Forex Brokers: What South African Traders Should Know
  11. ☑️What is the best time to trade Forex in South Africa?
  12. ☑️Forex Trading Account Types
  13. ☑️Decoding Currency Pairs & ZAR Basics
  14. ☑️Key Approaches to Forex Trading: Technical, Fundamental, and Algorithmic
  15. ☑️Mobile Trading in South Africa: How to Trade Forex on Your Smartphone
  16. ☑️Quick Forex Terminology Guide
  17. ☑️Types of Forex Brokers Explained
  18. ☑️Case Studies and Real-Life Scenarios
  19. ☑️Forex Trading Growth in South Africa
  20. ☑️Conclusion
  21. ☑️Frequently Asked Questions

 

What is Forex Trading?

 

Forex trading, or foreign exchange trading, is the act of buying and selling currencies on the global currency market to make a profit. Traders speculate on price movements between currency pairs like EUR/USD or USD/ZAR.

 

Why It Matters:

  • It’s the world’s largest financial market, operating 24/5, and is popular among beginners and professionals for its high liquidity, leverage options, and low barriers to entry.

 

Is Forex Trading Legal in South Africa?

Forex trading is fully legal and regulated in South Africa.

The Financial Sector Conduct Authority (FSCA) oversees the forex market, ensuring that brokers operate within a structured framework.

This regulatory oversight fosters trust and confidence among traders.

 

Regulatory Framework

  • Financial Sector Conduct Authority (FSCA)
  • The FSCA is the primary regulatory body overseeing forex trading in South Africa.
  • It ensures that financial institutions, including forex brokers, operate transparently and ethically.
  • Key responsibilities of the FSCA include issuing licenses to brokers, enforcing compliance with financial laws, and protecting traders from fraudulent activities.

 

South African Reserve Bank (SARB)

  • The SARB plays a complementary role by focusing on foreign exchange controls and monetary policy.
  • It ensures that forex transactions comply with South Africa’s exchange control regulations and monitors cross-border fund transfers to prevent illicit activities.

 

Broker Requirements

✅ Requirement📋 Description
🏛️ FSCA LicenseBrokers must register as Financial Services Providers (FSPs) under the FAIS Act.
💼 Segregated AccountsClient funds must be kept separate from broker operating funds to safeguard traders in case of insolvency.
⚖️ Leverage Limits (30:1)FSCA caps leverage at 30:1 for retail traders to reduce risk.
🆔 KYC & AML ComplianceBrokers must verify client identity and monitor transactions to prevent money laundering and financial crime.
⚙️ Fair Execution PracticesBrokers must execute trades fairly, transparently, and avoid practices that could exploit retail traders.

 

Taxation

  • Profits from forex trading are considered taxable income in South Africa.
  • Traders are required to report their earnings to the South African Revenue Service (SARS) and may be subject to Capital Gains Tax or Income Tax, depending on the nature of their trading activities.

 

Important Considerations

  • Use Regulated Brokers: Always verify that your broker is licensed by the FSCA to ensure legal protection and adherence to regulatory standards.
  • Understand the Risks: Forex trading involves significant risk, and it is possible to lose more than your initial investment. Proper risk management strategies are essential.
  • Stay Informed: Keep abreast of regulatory changes and market developments to make informed trading decisions.

 

How to Start Forex Trading in South Africa

How to Start Forex Trading in South Africa

 

Starting in trading can feel exciting but also overwhelming – don’t worry, that’s normal! With the right steps, you can set yourself up for success.

Whether you want to trade forex, stocks, or commodities, it’s important to take it one step at a time and build up your skills and knowledge.

In this guide, we’ll walk you through everything you need to know, from learning the basics to picking a trustworthy broker to practicing with a demo account before you go live.

By focusing on education, making smart strategies, and managing risk, you’ll be well on your way to feeling confident and ready to trade!

 

Learn the Basics

  • Before you jump into trading, it’s important to understand some key concepts. Forex trading might sound complicated, but don’t worry, everyone starts somewhere!
  • You’ll need to learn a few basic terms like pips, leverage, lot sizes, and margin, which are important to know when making trades.
  • You should also get familiar with different trading methods like trend following, scalping, day trading, and swing trading.
  • It’s also important to understand how trading platforms work, including types of orders (like market orders, limit orders, and stop orders), as well as basic tools like charts and indicators (for example, RSI, MACD, or moving averages).

 

Where to Learn

  • There are tons of free resources to help you get started. You can find online courses, webinars, and workshops on a large selection of websites.
  • YouTube is also a great place for free tutorials that explain things step-by-step.

 

What to Focus On

  • Start with learning technical analysis (reading charts and using indicators), fundamental analysis (understanding the news and economic events), and risk management (like using stop losses and sizing your trades correctly).

 

Choose a Reputable Broker

  • When you’re ready to trade with real money, picking the right broker is super important.
  • A good broker is someone who makes sure your money is safe and gives you all the tools you need to trade properly.
  • In South Africa, brokers regulated by the Financial Sector Conduct Authority (FSCA) are a safe bet.
  • Pick a broker that you feel comfortable with, and make sure they provide good customer support in case you need help.

 

Recommended FSCA-Regulated Brokers:

🇿🇦 Broker🛡️ FSCA Regulated📝Sign up
📱 Platforms⚖️ Leverage🎓 Education
HFM CTA logo
Yes (FSP 46632)👉 Open AccountMT4,
MT5,
HFM App
Up to 1:1000Webinars & Videos
FXTM CTA logo
Yes (FSP 46614)👉 Open AccountMT4,
MT5,
FXTM App
Up to 1:2000Free Courses
Exness logo
Yes (FSP 51024)👉 Open AccountMT4,
MT5,
WebTrader
Up to 1:UnlimitedGuides & Articles
Avatrade-CTA-logo.png
Yes (FSP 45984)👉 Open AccountMT4,
MT5,
AvaTradeGO App
Up to 1:400Rich Academy
IG CTA logo
Yes (FSP 41393)👉 Open AccountIG Platform,
MT4,
Mobile
Up to 1:200Webinars & Analysis

 

HFM CTA logo
  • 💰 Min Deposit:$0
  • 📈 Leverage: Up to 1:2000
  • 🏦 Regulators: FSCA, DFSA, FSC, CMA, FCA

 

Choosing a Regulated Forex Broker

When trading forex, choosing a regulated broker is one of the most important decisions a trader can make.

In South Africa, the Financial Sector Conduct Authority (FSCA) is the primary body responsible for licensing and regulating brokers.- View all regulated brokers here

 

Avatrade CTA logo
  • 💰 Min Deposit:$100
  • 📈 Leverage: Up to 1:400
  • 🏦 Regulators: ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

 

Why Regulation Matters

  • Trading with a regulated broker ensures:
  • Fund protection through segregated accounts
  • Fair pricing and execution
  • Transparent trading practices
  • Dispute resolution mechanisms
  • Compliance with anti-money laundering (AML) laws

 

Unregulated brokers, by contrast, often operate in offshore jurisdictions with little oversight, putting your capital at risk.

 

Essential Factors to Consider

When choosing a regulated broker, consider the following:

✅ Factor💡 What to Look For
🛡️ RegulationEnsure the broker is licensed by the FSCA (check FSP number).
💸 Deposit & WithdrawalLook for secure, fast, and low-fee deposit/withdrawal options in ZAR
📊 Trading PlatformsMT4, MT5, or proprietary platforms with strong tools and reliability.
⚖️ Leverage & SpreadsRegulated leverage (e.g., 1:30 to 1:1000), competitive spreads.
🎓 Education & SupportFree webinars, market analysis, and 24/5 local customer support.
📈 Account TypesOptions for beginners and pros, demo, micro, standard, or ECN accounts.

 

Is It Important to Trade with a Regulated Broker?

Absolutely. Regulation protects you as a trader from fraud, manipulation, and malpractice.

It also ensures that the broker is financially stable, transparent, and auditable by South African authorities.

Bottom Line: If your broker is not FSCA-regulated, you’re putting your money and trades at unnecessary risk.

 

Exness logo
  • 💰 Min Deposit:$10
  • 📈 Leverage: Up to 1:2000
  • 🏦 Regulators: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

 

Beginner’s Guide: How to Start Forex Trading in South Africa with a ZAR Account

 

This step-by-step guide walks you through opening your first forex trading account, funding it in ZAR, and placing your very first trade, with zero prior experience required.

 

Step 1: Choose a FSCA-regulated Forex Broker with ZAR Accounts

  • To trade in ZAR, you’ll want a broker that:
  • Offers ZAR-based currency accounts
  • Is FSCA regulated for local security
  • Provides user-friendly trading platforms (e.g., MT4, MT5)

 

Popular FSCA-regulated brokers with ZAR accounts:

🏦 Broker🌍 FSCA Regulated📝Sign up💰 ZAR Account Available
HFM CTA logo
Yes (FSP 46632)👉 Open AccountYes
Exness logo
Yes (FSP 51024)👉 Open AccountYes
Tickmill CTA logo
Yes (FSP 49464)👉 Open AccountYes
XM-CTA-logo.png
Yes (FSP 49976)👉 Open AccountYes
IFX Brokers CTA Logo
Yes (FSP 48021)👉 Open AccountYes

 

Step 2: Register Your Trading Account

What you’ll need

  • A valid South African ID or passport
  • A proof of address (utility bill/bank statement, not older than 3 months)
  • A valid email and mobile number
  • Sign-up process:
  • Go to the broker’s official website.
  • Click “Register” or “Open Live Account.”
  • Fill in your:
  • Full name
  • Email address
  • Phone number
  • ID number
  • Account type (select ZAR as base currency if available)
  • Upload your documents for FICA verification
  • Wait for email confirmation (usually within 24–48 hours)

 

Step 3: Choose a Trading Platform

Most brokers will offer you:

  • MetaTrader 4 (MT4) – Beginner-friendly
  • MetaTrader 5 (MT5) – More advanced features
  • Broker’s Mobile App – Easy for on-the-go
  • Download your chosen platform and log in using the account credentials emailed to you.

 

Step 4: Fund Your Account in ZAR (Rand)

Popular deposit methods for SA traders:

  • EFT / Instant Bank Transfer (e.g., FNB, ABSA, Standard Bank)
  • Ozow / PayFast – Instant payments in ZAR
  • Credit/Debit card (Visa/MasterCard)
  • Bank wire transfer

 

Steps:

  • Go to “Deposit” or “My Wallet” on the broker portal
  • Select your payment method
  • Choose ZAR as the deposit currency
  • Enter the amount (e.g., R500 minimum)
  • Confirm payment via your bank/app

 

Tip: Avoid currency conversion fees by funding in ZAR and using a ZAR-based account.

 

Step 5: Open Your First Trade (Demo or Live)

Practice First (Recommended):

  • Switch to Demo Account inside MT4/MT5
  • Use virtual funds (e.g., $10,000) to practice
  • Placing a Live Trade:
    Open MT4/MT5 → Log in
  • Click “New Order.”
  • Choose a currency pair (e.g., USD/ZAR or EUR/USD)

 

Select:

  • Volume/Lot size (e.g., 0.01 = micro lot)
  • Stop Loss (optional but advised)
  • Take Profit (optional)

 

Click:

  • BUY if you think the price will go up
  • SELL if you think it will go down

 

Step 6: Monitor Your Trade

Use the “Trade” tab to see:

  • Open trades
  • Profit/loss in real-time
  • You can close your trade manually anytime

 

Step 7: Withdraw Your Profits (Optional)

Once you’ve made profits and want to withdraw:

  • Go to your broker dashboard
  • Click “Withdraw.”
  • Choose a method (same as your deposit)
  • Enter the amount and confirm
  • Withdrawal processing time: 1–3 business days

 

Tickmill CTA Logo
  • 💰 Min Deposit:$100
  • 📈 Leverage: Up to 1:1000
  • 🏦 Regulators: CySEC, FCA, FSA, FSCA

 

Forex for Complete Beginners – Market Basics

Forex for Complete Beginners – Market Basics

 

Forex trading, short for foreign exchange trading, is the process of buying and selling currencies to profit from changes in their value.

It’s the largest financial market in the world, with daily volumes exceeding $6 trillion, and it’s growing fast in South Africa.

 

What Is the Forex Market?

  • The forex market is a global, decentralized marketplace where currencies like USD, EUR, GBP, and ZAR are traded in pairs (e.g., USD/ZAR). When you trade forex, you’re speculating on whether one currency will rise or fall in value against another.

 

How Forex Trading Works

  • You trade currency pairs, e.g., EUR/USD or USD/ZAR.
  • You buy one currency and sell another simultaneously.
  • You make a profit when the exchange rate moves in your favor.
  • Most trades happen on platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

 

When Can You Trade?

  • Forex markets are open 24 hours a day, five days a week, from Monday morning in Sydney to Friday night in New York. This allows flexibility for South African traders to trade before or after work.

 

How much do I need to start trading in ZAR?

  • Some FSCA-regulated brokers allow you to start with as little as R100–R500.
  • Micro and cent accounts are perfect for beginners wanting to learn with low risk.

 

Why Forex Is Popular in South Africa

  • High smartphone and internet penetration
  • Access to FSCA-regulated brokers
  • Ability to trade with the South African Rand (ZAR)
  • Low startup capital requirements
  • Flexible hours and remote access

 

Local Beginner Tips

✅ Tip💬 Advice
🛡️ Use FSCA-Regulated BrokersEnsures your funds are protected and trading is legal.
🎓 Learn FirstUse demo accounts and free educational content before risking real money.
💰 Start SmallBegin with small trades to manage risk and gain experience.
🧠 Control EmotionsAvoid “get-rich-quick” thinking, forex requires patience and strategy.
📈 Master the BasicsUnderstand pips, lots, leverage, and spreads before trading live.

 

Developing a Trading Strategy as a Beginner

Once you understand the basics and confirm that forex trading is legal and regulated in South Africa, your next step is to develop a clear, beginner-friendly strategy that aligns with your goals, lifestyle, and risk appetite.

 

Why You Need a Strategy

  • A trading strategy gives structure to your actions, helps you manage risk, and avoids emotional decision-making. Without a strategy, trading becomes guessing, and that leads to losses.

 

Key Steps to Building a Beginner Strategy

🛠️ Step💡 What It Involves
🎯 Set Clear GoalsAre you trading for income, growth, or learning? Define your time horizon and targets.
🕰️ Choose a Trading StyleStart with day trading, swing trading, or position trading based on your time.
📚 Learn One Strategy at a TimeStart with simple strategies like trend-following, support/resistance, or breakouts.
💰 Use a Demo AccountPractice risk-free with virtual funds on FSCA-regulated brokers like HFM or Exness.
📈 Track Your TradesKeep a trading journal to learn from wins and mistakes.
📊 Risk ManagementNever risk more than 1–2% of your account per trade. Use stop-losses and lot sizing.

 

Strategy Example: Simple Moving Average (SMA) Crossover

  • Buy Signal: When a short-term SMA (e.g., 10-day) crosses above a longer-term SMA (e.g, 50-day).
  • Sell Signal: When the short-term SMA drops below the longer-term SMA.

 

Why It Works for Beginners: It’s easy to visualize on charts and helps you trade with the trend.

 

Final Tips for South African Beginners

  • Trade ZAR pairs like USD/ZAR to stay familiar with local currency moves.
  • Don’t rush to go live; demo for at least 1–3 months.
  • Avoid get-rich-quick promises. Consistency beats luck.

 

Risk Management in Forex – Best Practices for Beginners

Risk Management Tips for Beginner Forex Traders

 

Effective risk management protects your capital and allows long-term growth.

Below are the key concepts every beginner trader in South Africa should follow:

 

Position Sizing (The 1–2% Rule)

What is it?

  • Only risk 1% to 2% of your trading capital on any single trade. This helps you survive losing streaks and stay in the game longer.

 

Stop-Loss Orders

What is it?

  • A stop-loss automatically closes your trade at a set loss level. Always use a stop-loss to protect against unexpected market moves.

 

Risk-to-Reward Ratio (RRR)

What is it?

  • The risk-to-reward ratio compares potential loss to potential gain. A 1:2 or 1:3 RRR means you can win fewer trades and still be profitable.

 

Risk Management Example Table

💡 Concept🔍 Details
💰 Account BalanceR50,000
📉 Risk per Trade1% (R500)
📏 Stop-Loss Distance40 pips
💸 Pip ValueR12.50 (based on lot size)
📊 Position Size1 micro-lot (R500 ÷ (40 × R12.50))
🎯 Take Profit Target120 pips (1:3 risk/reward)
💼 OutcomePotential gain = R1,500 / Potential loss = R500
✅ Strategy BenefitEven with 40% win rate, you remain profitable over time

 

Daily Risk Limits & Exposure Management

  • Set a daily drawdown limit (e.g., 2%) to avoid emotional decisions.
  • Avoid trading multiple correlated pairs (like EUR/USD and GBP/USD) simultaneously unless you reduce position sizes accordingly.

 

Emotional Discipline & Trade Psychology

  • Use a written trading plan with rules for entry, stop-loss, and exit.
  • Never move stop-losses emotionally or revenge trade after a loss.
  • Keep a trading journal to review your behavior and refine your approach.

 

Bonus: Stop-Loss Placement Tips

  • Use technical levels (support/resistance, swing highs/lows) for stop placement.
  • Use the ATR (Average True Range) to set volatility-based stops instead of fixed pip distances.

 

Top 10 Forex Trading Tips for Beginners

Starting in the forex market can be exciting, but it can also be overwhelming.

Here are some essential tips for beginners looking to navigate the world of forex trading:

 

⚠️ Tip💡 Advice
📚 Educate YourselfLearn the basics currency pairs, pips, leverage, margin, and market mechanics. Stay updated on economic events and global news.
🧪 Start with a Demo AccountPractice risk-free using a demo account to test strategies and become familiar with the trading platform.
🏦 Choose a Reliable BrokerSelect an FSCA-regulated broker with fair spreads, fast execution, and beginner-friendly accounts like micro or mini options.
💼 Start SmallTrade only with money you can afford to lose. Focus on learning rather than chasing large profits early on.
⚖️ Use Leverage CautiouslyLeverage increases both gains and losses. Use it sparingly until you’ve gained experience.
📝 Develop a Trading PlanSet clear goals, choose a strategy that suits your risk tolerance, and avoid emotional or impulsive trades.
🛑 Manage Your RiskAlways use stop-loss orders and never risk more than 1–2% of your trading capital on a single trade.
⏳ Be PatientWait for quality trade setups. Don’t overtrade discipline and consistency lead to success over time.
📓 Keep a Trading JournalTrack every trade, reason, outcome, and lesson. This builds awareness and helps refine your strategy.
📈 Continuous LearningForex is ever-changing. Stay updated with new tools, strategies, and market developments to grow your skills.

 

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

FSA, FSC, FSCA

$20

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#10

FSA, CySEC, FSCA, FSC

$10

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.4/5

User Score

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

FSA, FSC, FSCA

$20

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#9

FCA, FSC, FSCA

$200

#10

FSA, CySEC, FSCA, FSC

$10

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.4/5

User Score

 

FSCA-Regulated Forex Brokers: What South African Traders Should Know

FSCA-Regulated Forex Brokers: What South African Traders Should Know

 

The Financial Sector Conduct Authority (FSCA) is South Africa’s official regulator for financial services, including forex trading.

If you’re trading in South Africa, choosing an FSCA-regulated broker is essential for your safety, legal compliance, and peace of mind.

 

Why FSCA Regulation Matters

  • Trader Protection: FSCA ensures brokers follow fair trading practices and safeguard your funds.
  • Legal Compliance: Trading with an unregulated broker could violate local laws and expose you to financial scams.
  • Dispute Resolution: FSCA provides formal channels to resolve complaints against licensed brokers.

 

What FSCA-Regulated Brokers Must Do

  • Be licensed under the Financial Advisory and Intermediary Services (FAIS) Act.
  • Maintain segregated client accounts to protect traders’ funds.
  • Implement KYC/AML procedures to prevent financial crimes.
  • Adhere to leverage limits and provide fair market execution.

 

Benefits for South African Traders

✅ Benefit📋 Explanation
🇿🇦 Local Legal ProtectionCovered under South African law with access to FSCA complaint mechanisms.
💬 ZAR-Based AccountsMany FSCA brokers offer Rand accounts to avoid currency conversion fees.
📞 Local SupportGet faster, region-specific assistance via local support teams.
📉 Transparent Trading ConditionsBrokers must disclose risks, fees, and leverage clearly.

 

  • How to Check if a Broker Is FSCA-Regulated
  • Visit the FSCA website.
  • Click “Search for a Financial Service Provider (FSP).”
  • Enter the broker’s FSP number or name.
  • Confirm their registration and license status.

 

What is the best time to trade Forex in South Africa?

Forex Market Hours in South Africa

 

The forex market operates 24 hours a day, 5 days a week, but the specific trading hours in South Africa are based on the global forex market’s opening and closing times, which are in line with major financial centers.

The market opens on Sunday evening and closes on Friday evening (South African time).

 

Here’s a breakdown:

 

Forex Market Hours in South Africa (SAST – South Africa Standard Time)

The forex market operates 24 hours a day, five days a week. For South African traders, knowing the local market hours in South African Standard Time (SAST) is crucial for planning trades around periods of high liquidity and volatility.

 

🌍 Market Session🌅 Open (SAST)🌇 Close (SAST)🔥 Best Pairs⚡ Volatility📌 Key Notes
🇦🇺 Sydney11:00 PM8:00 AMAUD/USD,
NZD/USD
LowStarts the trading week (Sunday night)
🇯🇵 Tokyo1:00 AM10:00 AMUSD/JPY,
EUR/JPY
ModeratePairs like JPY/CHF & AUD/JPY more active
🇬🇧 London9:00 AM6:00 PMEUR/USD,
GBP/USD,
EUR/JPY
HighMost liquid session – overlaps with NY
🇺🇸 New York03:00 PM12:00 AMEUR/USD,
GBP/USD,
USD/CAD,
XAU/USD
Very HighMajor USD pairs move; news-driven

 

The best trading hours for forex markets

  • Forex markets are tradable 24 hours a day on weekdays. If you are in the GMT+2 time zone when it is daylight saving time internationally, the forex market opens with the Tokyo session at 12:00 am on Monday and ends at 12:00 am on Saturday with the US session.
  • Essentially, the trading hours correlate and start with equity markets in the east (Japan and Australia) and end with US markets in the west.
  • The currency of a country will generally be more actively traded when the region’s equity markets are open.
  • For example, the Japanese Yen is likely to be more actively traded over its equity market hours rather than when the underlying equity markets are closed. US forex markets are more likely to see more trading activity when the country’s equity markets are open.
  • The highest volume trade of currency pairs is most likely to occur when market hours between regions overlap.
  • For example, the EURO / US Dollar (EUR/USD) is likely to see more trading as European exchanges head towards close while they overlap with US markets opening.

 

Monitor interest rates, monetary policy, and key news flow

  • The path of monetary policy, set by central banks, is a key influence in currency markets. Higher interest rates and the tightening of money supply are expected to have a positive effect on the currency of the country concerned, while lower interest rates and the increase of monetary supply are expected to have a weakening effect on a country’s domestic currency.
  • However, when you trade the forex market, you are selling one currency against another. For example, when looking at the EUR/USD, a trader will consider the relative difference in the path of interest rates and monetary policy between Europe and the US as a determining factor for exchange rate direction.
  • Central bank activity is navigated by economic data, which means that traders will want to pay close attention to news flow, which may affect policy decisions. Key news items to watch in this regard include, but are not limited to, inflation, employment, and growth (GDP).
  • The release of key economic data can help with the timing of when we might see significant moves in forex. Therefore, keeping an eye on the economic calendar can be an important resource for traders.
  • For upcoming economic events that can affect currency markets.

 

Forex Trading Account Types

Forex brokers offer a variety of account types to cater to different trading styles, experience levels, and capital sizes. Choosing the right account type is crucial for effective risk management and aligning with your trading goals.

 

🏷️ Account Type📌 Key Features👤 Best For💰 Typical Minimum Deposit📈 Lot Size
🥇Demo AccountPractice trading with virtual fundsBeginners testing strategiesNoneVirtual
🥈Cent AccountAccount balance displayed in cents; trades in micro-lotsNew traders with minimal capital$1–$100.01 lot (1,000 units)
🥉Micro AccountTrades in micro-lots; lower risk exposureBeginners transitioning from demo accounts$10–$1000.01 lot (1,000 units)
🏅Mini AccountTrades in mini-lots; moderate risk exposureTraders with some experience$100–$5000.1 lot (10,000 units)
🥇Standard AccountTrades in standard lots; access to full featuresExperienced traders$500–$1,0001 lot (100,000 units)
🥈ECN AccountDirect market access with tight spreads; commission-basedAdvanced traders and scalpers$500–$1,000Variable
🥉STP AccountStraight-through processing; no dealing deskTraders seeking transparent pricing$100–$500Variable
🥇Managed AccountProfessional traders manage the accountInvestors preferring hands-off approachVariesVaries

 

Considerations for South African Traders

  • FSCA Regulation: Ensure the broker is regulated by the Financial Sector Conduct Authority (FSCA) to guarantee compliance with South African laws and added protection.
  • ZAR Accounts: Opt for brokers offering accounts denominated in South African Rand (ZAR) to avoid currency conversion fees.
  • Local Support: Choose brokers with customer support services tailored for South African clients, including local contact options and understanding of regional trading conditions.

 

Tips for Choosing the Right Account Type

  • Start with a Demo: Before committing real funds, practice with a demo account to familiarize yourself with the trading platform and market dynamics.
  • Assess Your Capital: Choose an account type that aligns with your available trading capital and risk tolerance.
  • Understand Costs: Be aware of spreads, commissions, and other fees associated with each account type.
  • Evaluate Trading Style: Your trading frequency and strategy (e.g., scalping, day trading, long-term investing) can influence the most suitable account type.

 

Decoding Currency Pairs and Understanding the Basics of ZAR Trading

  • Understanding currency pairs is a fundamental part of Forex trading, especially when it comes to trading ZAR (South African Rand).
  • Currency pairs are divided into two categories: major pairs and minor pairs.
  • Major pairs include the most traded currencies, like EUR/USD, while minor pairs involve less liquid currencies like ZAR.
  • ZAR pairs are typically classified as “exotic” pairs due to the Rand’s lower liquidity and volatility compared to major currencies.
  • In ZAR trading, the South African Rand is often paired with major currencies such as USD, EUR, or GBP.
  • Beginners must grasp how these pairs function, how exchange rates fluctuate, and how factors like geopolitical events and commodity prices can influence the value of the ZAR.
  • Understanding the basics of currency pairs will help traders make informed decisions and navigate the complexities of the Forex market more effectively.

 

💱 Type🌍 Description🇿🇦 ZAR Relevance
🏆 Major PairsForex Majors – 0.24 pips

Forex Minors – 0.30 pips
12.857% of commissions paid
🌐 Minor PairsMonthly Cashback offered

Daily rebates paid directly to the trading account
Monthly Cashback offered

Daily rebates paid directly to the trading account
🐘 Exotic PairsOne major currency + one from a developing/emerging economyZAR pairs are considered exotic due to lower liquidity/volatility
🔁 Base CurrencyFirst currency in the pair (value of 1 unit is compared to quote)ZAR can be the base or quote currency
💵 Quote CurrencySecond currency in the pair (value compared to 1 unit of base)Helps determine how much ZAR is needed per unit of foreign currency
📉 Exchange RateThe rate at which one currency can be exchanged for anotherAffected by interest rates,
inflation,
political stability,
etc.
🌍 Market FactorsGeopolitics,
commodity prices,
interest rates
South Africa’s economy & commodities (like gold) play a big role
🧠 Why It MattersInformed decisions depend on understanding currency dynamicsHelps ZAR traders navigate risk and seize opportunities

 

Key Approaches to Forex Trading: Technical, Fundamental, and Algorithmic

Key Approaches to Forex Trading: Technical, Fundamental, and Algorithmic

 

  • In forex trading, there are three key approaches to analysis and trading methods.
  • Technical indicators are tools that help traders analyze price movements and market trends using historical data, such as moving averages, RSI, and MACD.
  • These indicators assist in making decisions based on patterns and trends in the market.
  • On the other hand, fundamental analysis involves studying economic indicators, news events, and financial reports to predict currency movements based on economic health and global events. Traders use this method to assess the underlying factors that affect currency prices, like interest rates and GDP growth.
  • Finally, algorithmic trading involves using computer algorithms to execute trades based on predefined criteria, often at high speeds and with precision, removing emotions and human errors from the process.
  • Each of these approaches can be used independently or together, depending on the trader’s strategy and goals.

 

How to Trade Forex on Your Phone in South Africa

  • Forex trading on your phone is simple and available to everyone in South Africa.
  • Choose a broker regulated by the FSCA and select from the mobile apps MetaTrader 4 (MT4), MetaTrader 5 (MT5), or even use a custom app such as HFM, FXTM, or Exness.
  • From either the App Store or Google Play, install the app, make an account, and check your identity.
  • You have the option to fund your account with ZAR using EFT, a card, or local methods.
  • From that point on, you can study graphs, buy and sell, and set protective measures wherever you are, whenever you like.
  • You can freely manage your forex trading experience on your smartphone or tablet.

 

Mobile Trading in South Africa: How to Trade Forex on Your Smartphone

With more South Africans accessing the internet via smartphones than desktops, mobile forex trading apps have become the go-to platform for new and experienced traders alike.

 

Here’s everything you need to know about trading on the go.

 

  • Why Mobile Trading is Popular in South Africa
  • Accessible anywhere, even with mobile data
  • Real-time price alerts and push notifications
  • Secure apps with biometric login (fingerprint/face ID)
  • Same tools and features as desktop platforms
  • Instant trade execution with one-tap trading

 

Top Mobile Trading Apps for South African Traders

🔹 App Name📦 Broker(s)📝Sign up🇿🇦 ZAR Accounts🔐 FSCA Regulated
📱AvaTradeGOAvaTrade👉 Open AccountYesYes
📱MetaTrader 4Most major brokers👉 Open AccountYesYes
📱MetaTrader 5Most major brokers👉 Open Account
YesYes
📱Exness AppExness👉 Open AccountYesYes
📱HFM AppHFM👉 Open AccountYesYes
📱IFX AppIFX Brokers👉 Open AccountYesYes

 

How to Start Trading Forex on Mobile (Step-by-Step)

Step 1: Download the Trading App

Go to the Google Play Store or the Apple App Store

 

Search for:

  • MetaTrader 4
  • MetaTrader 5
  • Your broker’s app (e.g., AvaTradeGO, HFM App)

 

Step 2: Log In or Sign Up

If you have a live account, choose “Login to Existing Account.”

 

Enter:

  • Broker name
  • Server name
  • Your login credentials (from the broker email)
  • No account yet? Most apps let you register directly within the app.

 

Step 3: Fund Your Account

Go to the Wallet, Account, or Deposit section

  • Select ZAR as your funding currency (if available)
  • Use EFT, card, or instant pay options (Ozow, PayFast)

 

Step 4: Place Your First Trade

Tap “Quotes” to view currency pairs (e.g., USD/ZAR, EUR/USD)

Tap the pair > Click “Trade”

 

Set:

  • Lot size (e.g., 0.01 = micro lot)
  • Optional: Stop Loss / Take Profit
  • Tap BUY or SELL based on your prediction
  • Step 5: Monitor & Manage Trades
    Tap the “Trade” tab to view open trades

 

You can:

  • Modify Stop Loss / Take Profit
  • Close trades manually
  • View profit/loss live

 

Mobile Trading Safety Tips

  • Always use biometric login or a strong password
  • Enable 2FA (Two-Factor Authentication) if available
  • Avoid trading over public Wi-Fi
  • Set price alerts and stop losses to manage risk
  • Smart Features to Explore on Mobile
  • Chart tools: Pinch-to-zoom, draw trend lines, use indicators
  • Economic calendar and news alerts
  • One-click trading
  • Built-in chat or support in broker apps

 

Quick Forex Terminology Guide

 

Here’s a simplified overview of key Forex terms you’ll encounter:

📘 Term💡 Definition
💱 Forex QuotesShows the value of one currency against another (e.g., EUR/USD).
💹 Forex InstrumentsTradable currency pairs like USD/JPY or GBP/USD.
📈 Forex ChartsVisual tools to track price history and spot trends.
🧠 Technical AnalysisUses charts and indicators to predict price movements.
🔊 Volume AnalysisMeasures the strength of price movements through trading volume.
🔄 OscillatorsTools like RSI or Stochastic show overbought/oversold conditions.
🛡️ HedgingStrategies to reduce trading risk, like futures or options.
😐 Sentiment AnalysisAnalyzes trader emotion via news and social media trends.
📊 Fundamental AnalysisEvaluates a currency's value using economic data like interest rates and inflation.
💸 Spot ForexImmediate buying/selling of currencies at current prices.
💰 Margin & LeverageTrade larger positions by borrowing funds; magnifies gains and losses.
💵 Forex SpreadDifference between bid and ask price in a currency pair.
📏 PipsThe smallest price movement in a Forex quote (usually 0.0001).
📝 Order TypesIncludes market, stop-loss, and limit orders to control trade execution.
📉 Long/Short PositionsLong = buying a currency; Short = selling a currency to buy back later.
📦 Forex LotsTrade sizes: Standard (100K), Mini (10K), Micro (1K), Nano (100).
📈 Profit/LossCalculated when closing a trade — affects your account balance.

 

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

FSA, FSC, FSCA

$20

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#10

FSA, CySEC, FSCA, FSC

$10

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.4/5

User Score

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

ASIC, CySEC, FSA, SCB

$200

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

FSA, FSC, FSCA

$20

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#9

FCA, FSC, FSCA

$200

#10

FSA, CySEC, FSCA, FSC

$10

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.7/5

User Score

#5

4.7/5

User Score

#6

4.5/5

User Score

#7

4.2/5

User Score

#8

4.8/5

User Score

#9

4.6/5

User Score

#10

4.4/5

User Score

 

Types of Forex Brokers Explained

  • Choosing the right Forex broker can be challenging, as different brokers offer varying procedures and policies.
  • While many brokers provide similar access to the foreign exchange market, they can differ significantly in how they operate.
  • Understanding the types of brokers is essential for South African traders to make informed decisions.

 

Here’s an overview of the main types of Forex brokers:

🏦 Broker Type📋 Description👤 Best For
🧾 Dealing Desk (DD)Market makers that set their own prices offer fixed spreads and trade against clients.Beginners & fixed spread seekers
🚫 No Dealing Desk (NDD)Direct market access with no price manipulation or re-quotes; more transparent pricing.News traders & scalpers
🌐 Electronic Communication Network (ECN)Connects traders to a liquidity pool shows order book & charges a commission per trade.Professionals needing transparency
🔁 Straight Through Processing (STP)Routes orders directly to liquidity providers with minimal broker intervention offers variable spreads.Traders wanting faster execution
🧮 Multilateral Trading Facility (MTF)Facilitates anonymous matching of orders between multiple market participants under strict rules.Advanced traders & institutions

 

Case Studies and Real-Life Trading Scenarios

👤 Trader🏆 Notable Achievements📚 Education/Contribution📡 Media Mentions
🧁 Sandile SheziInvested tuition in forex ➜ millionaireCo-founded Global Forex InstituteTikTok,
Forex SA,
NewsNow
🤝 George van der RietUK-trained trader turned SA mentorCo-founder of GFI, mentor to SheziTikTok,
Forex SA,
NewsNow
🧠 Ref WayneMillionaire by 22, founder of PipcoinStarted African Forex Institute,
authored strategy books
Forex SA
NewsNow
💼 Jabulani 'Cashflow' NgcoboBuilt wealth via forex & businessPromotes financial literacy, runs youth trainingForex SA
👩‍💼 Nelisiwe MasangoLeading female trader & investorFounder of Bear Run Investments, women-focused workshopsForex SA

 

Forex Trading Growth in South Africa

Forex Trading Growth in South Africa

 

Demographic Trends

  • Youth Engagement: A significant portion of new traders are under 30, drawn by the potential for financial independence and the flexibility that forex trading offers.
  • Social Media Influence: Platforms like Instagram and YouTube have popularized forex trading, with influencers sharing success stories and trading strategies.

 

Economic Impact

  • Job Creation: The growth of the forex industry has led to the emergence of ancillary services, including training institutions and fintech startups, contributing to job creation.
  • Economic Diversification: Forex trading offers an alternative income stream, aiding in diversifying the country’s economic activities.

 

Forex Trading Growth in South Africa (2020–2025)

📅 Year💵 Estimated Daily Turnover
2020$14 billion
2021$15.5 billion
2022 $16 billion
2023$18 billion
2024$20 billion

 

Key Drivers of Growth

🚀 Driver📋 Description
🌐 Increased Internet PenetrationAbout 60% of South Africa’s population now has internet access, boosting online trading participation.
📱 Mobile Technology AdoptionSmartphones have made trading apps more accessible for a broader audience.
🏛️ Regulatory OversightFSCA regulation builds trust and ensures brokers operate fairly.
🎓 Educational ResourcesOnline courses and free trading education have empowered many new traders.

 

South Africa’s Position in Africa’s Forex Market

🌟 Category📋 Details
🥇 Market LeadershipSouth Africa is Africa’s largest forex hub with a daily turnover above $20 billion.
💱 Currency SignificanceThe South African Rand (ZAR) ranks among the top 20 most traded currencies globally.

 

Key takeaways include:

  • Education: Continuously learning about analysis, market trends, and trading psychology.
  • Risk Management: Using stop-loss orders, managing positions, and avoiding overleveraging.
  • Choosing a Reputable Broker: Ensuring fund safety and access to reliable tools.
  • Developing a Trading Plan: Setting clear goals and strategies and maintaining discipline.
  • Keeping a Trading Journal: Tracking progress, analyzing trades, and learning from mistakes.
  • Understanding the South African Market: Monitoring local economic and political factors impacting the ZAR.

 

Ultimately, Forex trading requires patience, discipline, and continuous improvement.

By following this guide and staying informed, beginners can boost their chances of success in South Africa’s exciting Forex market.

 

Conclusion

Forex trading in South Africa offers a great opportunity for individuals looking to engage in global financial markets.

While profits can be significant, beginners should approach the market with enthusiasm and caution.

Success in Forex trading depends on a strong knowledge base, disciplined risk management, and ongoing learning.

This guide covers the essentials, from understanding currency pairs and market mechanics to selecting a reliable broker and developing effective trading strategies.

South African traders should consider factors affecting the ZAR, such as political events, commodity prices, and Reserve Bank policies.

Starting with a demo account allows beginners to practice and familiarize themselves with trading platforms without risking real capital.

Once comfortable, they can transition to a live account, starting small and gradually increasing exposure as they gain experience.

 

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Frequently Asked Questions

 

What is Forex trading?

Forex trading involves buying and selling currencies on the foreign exchange market, aiming to profit from changes in exchange rates. Traders speculate on the value of one currency against another.

 

How can I get started with Forex trading in South Africa?

To begin Forex trading in South Africa, start by educating yourself about the market, setting up a demo account to practice, choosing a regulated broker, and gradually transitioning to live trading with a small deposit.

 

Why is a regulated Forex broker important?

A regulated Forex broker ensures the safety of your funds, fair execution of trades, and access to reliable trading tools. It also provides a level of protection against fraud and malpractice.

 

What is a demo account, and why should I use one?

A demo account allows you to practice trading with virtual money, helping you get familiar with the platform and develop trading strategies without risking real capital.

 

How does the South African economy affect the ZAR in Forex trading?

The South African Rand (ZAR) is influenced by various factors such as political events, commodity prices (especially gold and platinum), and policies of the South African Reserve Bank.

 

What are some key risk management strategies in Forex trading?

Key risk management strategies include setting stop-loss orders, managing position sizes, avoiding overleveraging, and keeping emotions in check while trading.

 

How much money do I need to start trading Forex?

The amount required to start trading Forex varies depending on the broker and account type. Beginners can start with a small deposit, often between $100 and $500, and gradually increase their investment as they gain experience.

 

What are currency pairs in Forex trading?

A currency pair consists of two currencies, where one is bought and the other is sold. For example, in the EUR/USD pair, the Euro is the base currency, and the U.S. Dollar is the quote currency.

 

What role does trading psychology play in Forex’s success?

Trading psychology is crucial in maintaining discipline, managing emotions, and sticking to your strategy. Emotional decision-making can lead to impulsive trades and significant losses.

 

How can I improve my Forex trading skills?

Continuously educating yourself, analyzing market trends, keeping a trading journal, and reviewing both successful and unsuccessful trades will help you improve your trading skills and achieve long-term success.

 

Who participates in the forex market?

The forex market includes a wide range of participants, from banks, financial institutions, and corporations to individual traders who use online platforms to speculate on currency movements.

 

Why is taking profits early important in forex trading?

Taking profits early helps protect your capital and ensures long-term success. Forex markets are volatile, and greed can quickly turn a winning position into a loss. By setting realistic profit targets based on your analysis, you can lock in gains and avoid getting caught in market reversals. Small, consistent profits build a strong trading portfolio and help reduce emotional stress.

 

What are the dangers of overtrading, and how can I avoid them?

Overtrading occurs when traders make frequent, unnecessary trades, often due to the urge to stay busy. This can lead to higher commission costs, poor decision-making, and loss of discipline. To avoid overtrading, focus on making high-quality trades based on your strategy and analysis. Patience is key—wait for high-probability setups and stick to your plan. A few well-executed trades with proper risk management will often outperform impulsive trades.

 

What is technical analysis?

Technical analysis is a method of evaluating and forecasting the price movements of a financial asset (like a stock, currency, or commodity) by analyzing past market data, primarily price and volume. Instead of focusing on the financial health or performance of a company (as in fundamental analysis), technical analysis looks at historical price patterns and market trends to predict future price movements.

 

What is fundamental analysis?

Fundamental analysis is a method of evaluating the intrinsic value of a financial asset (like a stock, currency, or commodity) by examining economic, financial, and other qualitative and quantitative factors that could influence the asset’s price. Instead of focusing on past price movements (as in technical analysis), fundamental analysis looks at the “big picture” to understand the underlying factors that could affect the asset’s value.

 

What makes ZAR trading different from other currencies?

The ZAR (South African Rand) is considered an “exotic” currency, which means it has lower liquidity and higher volatility compared to major currencies like the USD or EUR. This can lead to larger price swings, creating both opportunities and risks for traders.

 

How do factors like commodity prices affect ZAR trading?

The value of the ZAR is often influenced by commodity prices, particularly gold and platinum, as South Africa is a major producer of these metals. When commodity prices rise, the ZAR tends to strengthen, and when they fall, the ZAR can weaken.

 

Table of Contents

Louis Schoeman

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

July 16, 2025

Louis Schoeman

Written by:

Louis Schoeman

Featured SA Shares Writer and Forex Analyst.

I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities.

Edited by:

Skerdian Meta

Leading Analyst

Skerdian Meta FXL’s Heading Analyst is a professional Forex trader and market analyst and has been actively engaged in market analysis for the past 10 years. Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years.

Fact checked by:

Arslan Butt

Commodities & Indices Analyst

Arslan Butt, a financial expert with an MBA in Behavioral Finance, leads commodities and indices analysis. His experience as a senior analyst and market knowledge (including day trading) fuel his insightful work on cryptocurrency and forex markets, published in respected outlets like ForexCrunch.

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