About Forex Trading In South Africa
The Foreign Exchange Market, or Forex, is the biggest financial market in the world. Dealing in the trading of international currencies, Forex has different financial centers located around the globe, and buyers and sellers work throughout the week to trade currencies and other commodities for profit. Recently, South Africa has started to become a much more desirable location for Forex investors, but while our nation is still emerging, Forex operates basically the same, just with slightly different regulations.Using This Website
Our goal with this website is to introduce interested South Africans to this new and wonderful world of Forex trading. Our visitors can compare forex brokers, explore binary options trading, use the basic toolset of any forex trader and visit our up-to-date economic calendar, and enjoy our new education section that sets out to make trading less risky by getting you, the trader, a good start in how to trade forex. Now that is fully packed
Forex trading website!Regulations & SARS
The South African regulatory officials have also relaxed their Forex trading allowance standards. Individuals were previously allotted a R1 million sum to trade with Forex, with a R4 million stipend for setting up offshore accounts.
In 2010 the foreign investment allowance of R4 million and the single discretionary allowance of R1 million have been combined, leaving SA Forex investors with an allowance of R5 million – the limit which you are allowed to invest.
What this signals is that Forex standards are steadily changing South Africa. If the allowance can be combined in only a few short years, you can expect it to rise again. Plus, as an added bonus, if you’re operating a business or some type of investment firm in SA, the Reserve Bank is looking more favorably at your applications.
For a full guide for how to fund offshore trading accounts from South Africa, read this.