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Foreign Exchange Trading or Forex as it is more popularly known around the world is one of the most heavily traded markets in the world, churning out trillions of dollars in trading volume every single day. Forex markets are heavily traded in the major nations of the world, as well as some smaller markets. The real history of the forex market in South Africa can be dated back to the late 1980’s. The market experienced an unprecedented growth starting from 1987 to 1990, where the average rate of growth was a
In more recent years, the South African Forex market has grown to be one of the leading markets in the world and functions slightly differently compared to the others. A salient feature of the South African Forex market is the influence and control of the country’s central bank. In spite of this, the basic principles of forex trading are the same as in any other market, which we will discuss in the article below.
The first fundamental question any trader asks is – Why choose the Forex market In the first place. The Forex market can be beneficial and more suited to many traders because of the host of advantages offered, as described below.