7 Best Forex Trading Platforms for South Africans - Alberton Record
7 Best Forex Trading Platforms for South Africans - Alberton Record |
- 7 Best Forex Trading Platforms for South Africans - Alberton Record
- XM Forex Review and Insights - Emirates Business 24/7
- The Advantages of Mobile Forex Trading - iLounge
- Investing in Stocks vs Forex • Benzinga - Benzinga
| 7 Best Forex Trading Platforms for South Africans - Alberton Record Posted: 07 Feb 2020 04:49 AM PST With its daily growing exposure Forex industry shows constant development as well as bringing more and more opportunities to world traders and for South Africans in particular. Eventually, South Africa recently passing through a Forex boom as many investors are willing or already sign up into Forex trading. This was caused by several reasons, the first of them is that South Africa established a regulated trading environment through its FSCA (Financial Services Conduct Authority in South Africa) which is a regulatory body that oversees trading activity and promotes its healthy development. It is indeed a great measure for both, South African traders with the possibility to invest safely and world Forex companies that may expand and still offer licensed trading opportunities beyond. Lastly, FSCA regulatory regime set its regulatory standard aligned to international security rules and yet allows high leverage ratios up to 1:200, while European ESMA already significantly lower its allowed leverage, which is another point causing South Africa to quick expand on being world Forex hub. Which South Africa broker to choose?So now understanding the importance of regulatory regime within the jurisdiction, as it obviously promotes safe trading conditions and limits the risks to fall under the scams for you as a trader lets see the choices among the trading brokers. Consequently, you should choose only among the FSCA regulated brokers, which you should also verify by checking the broker's license and never trust to alluring opportunities of offshore firms, as they may easily scam you. Actually, with its growing daily activity, there are already numerous world-leading brokerage firms operating its entities in South Africa and also strongly compliant with FSCA Regulation. For this reason we assist in your choice and create a list of 7 Best Forex trading platforms for South Africans in order to support your selection among trusted firms. South Africa Trading Brokers comparisonTo compare the trading offering and select the best one for you we present 7 South Africa Brokers that were determined and selected by a particular ranking. This including broker's legal sides and regulation, the overall competitiveness of trading conditions and offering, its international reputation or trust, and other important profile data. So see below the list and choose the appropriate one in balance to your personal values, also you may access in-depth review with all important point covered of each broker trading conditions by clicking the link. 1. FXTMFirst in our list is FXTM broker, a company operating since 2011 with headquarter in Cyprus, also with established regulated entity in South Africa. Eventually, FXTM is not only highly regarded broker, but also the one that becoming quite valuable in South Africa in terms of both its trading quality and customer satisfaction ratings. Whether you are beginning trader or professional FXTM designed specified conditions suitable for any type of trader. Beginners or Professional will find necessary conditions accompanied by truly professional educational material and support materials, and that is besides regular contest broker takes. 2. XMXM is another great option and trading solution, which operates globally and a quite known broker in Cyprus, UK, Australia and worldwide as well. With its great variety of trading instruments and focus on the client needs with a range of account types including micro accounts and specified type with ultra-low costs brings you a comprehensive feature for trading. Read a full review of XM here 3. IG GroupEventually, IG Group or IG Markets is one of the pioneer companies within trading and Forex industry. It started its operation in 1974 and was standing at the very beginning of the online dealing and trading, which produce as a result of powerful combination for world investors. So besides t its numerous entities around the world, the broker also deploy a trusted trading environment with greater conditions which indeed not many brokers has access to. IG received numerous industry awards and timely recognized for its excellence in both trading service and technology solution they provide. With IG NDD connectivity, you will get truly comprehensive trading capabilities, so definitely IG worth consideration. 4. HotForexHotForex also offers a powerful solution to trade CFDs and Forex, also with costs built into the tight spread. Being a fully regulated broker in various jurisdictions HotForex maintains safe trading capabilities and delivers various solutions including Zero Spread trading and Islamic Accounts. South Africans are able to benefit from the speculation on price fluctuations on various instruments including Cryptocurrencies. 5. FP MarketsFP Markets originally an Australian broker also expand its proposal globally, serving additional entity in Cyprus and accepting South African traders. Some of the great FM Marktes is a technical trading solution, as besides its powerful execution model you are able to choose from powerful software including IRESS, and MetaTrader platforms. FP Markets also constantly undergo development, so along the time you will get more wide offering and various interesting conditions, which is definitely a great option in the long run. 6. Plus500Plus500 is fully based on CFD trading providing, so if you would like to deploy your strategy on CFDs with a truly amazing and very wide range of instruments, Plus500 is your choice. Its trading platform is also very customer-friendly and intuitive, so any trader will get into the process quite easily. Also, Plus500 delivers some of the great costs, while the only missing point of Plus500 is education materials. 7. FXCMFXCM is the last one in our list with developed trading software based on MetaTrader and TradeStation, so whether your choice is automated strategy or manual trading, along with a copy trading option, you will be able to use technology to its best. While all in all, FXCM is defined as customer-oriented and professional broker with low trading costs and great level of customer service. Critical Points or How to Choose Trading BrokerSo now you get more of the details about each one's broker offering, you should then make sure to consider critical points in choosing the trading platform. As first it goes Regulation, as money safety always stands first. Then you should take in account type and your personal level of expertise in trading, so if you're a beginner select among beginners friendly brokers. The third point is to select appropriate Broker Type along with its structure of the fees, either based on spreads only variable or fixed spread, or to a mainstay on commission charges with raw spread offering. Of course, never forget and verify additional fees or check-on specified conditions if necessary. Lastly, see the instrument range along with platform and trading software which you will use to execute orders maybe you prefer to use MetaTrader4 or another specific platform, so select broker with the included offering.  | ||||||||
| XM Forex Review and Insights - Emirates Business 24/7 Posted: 11 Feb 2020 02:40 AM PST Offering a low minimum deposit and a wide range of account types, XM.com's access to over 1000 markets is appealing to almost any Forex trader. Even more attractive are their low spreads and flexible lot sizes. With tools and account availability suitable for both beginning and experienced traders, XM Global Webtrade is the next generation Forex broker. Whether you're ready to jump in and start trading real money or you'd like to get your feet wet with a demo account, XM will support you. Demo accounts start with US$100,000 of virtual currency and provide access to auto-trading, fast order executions, multiple order types, and no hidden commissions. (Sign up and log in today!) What Is XM?XM.com is part of a much larger organization called the Trading Point of Financial Instruments UK Limited. This organization created the exam group in 2009, which then founded XM.com, which is now one of the best established and well-known investment firms in the world. With over 1.5 million clients in 196 countries, the XM global company focuses on three core principles:
This has translated into excellent customer service, individualized support for each client, and global financial influence. What Trading Platform Does XM Use?XM.com does not offer a proprietary trading platform. Instead, it allows its clients to use either MetaTrader 4 or MetaTrader 5. Both trading platforms are award-winning and are used by many brokers throughout the world. Both platforms also have iOS and Android apps allowing clients to trade both on the desktop and their mobile devices. Within the trading platform itself, many tools can be used, such as an economic calendar and advanced charting tools.
What Markets And Assets Can I Trade?XM offers a wide variety of asset classes that can be traded through their platforms. These asset classes include commodities, stocks, Forex, precious metals, equity indices, cryptocurrencies, and energies. Forex can be traded through over 55 currency pairs, including GBP, USD, EUR, and JPY. One notable exception for XM that they do not offer is the ability to trade futures or binary options. What Kind Of Spreads Or Commissions Do They Charge?As with most Forex brokers, spreads at XM vary according to the account type (Micro account, Standard account, and Zero account). The minimum spread for any of the three account types offered at XM is 0.1 pips. XM covers all transfer fees, and they also guarantee same-day withdrawals. While there are commissions on the Zero accounts, those commissions are explained up front and thus are not "hidden" like they are with many other brokers. Can I Use Leverage at XM?The short answer is, "Yes, you can use leverage at XM." However, leverage can vary from 2:1 to 30:1 depending on the currency pair and margin requirements for the trade. One benefit of XM is that margin requirements do not change during night or weekend periods (an uncommon practice with most Forex brokers). EEA restrictions limit leverage and margin available but also provide certain protections for traders (such as negative balance protection). However, For traders located outside of the EEA, many of these restrictions do not apply. This allows traders from Australia and India, for example, to achieve much higher leverage levels than traders in the EU. Note: increased leverage can magnify your profits AND your losses. Do They Offer Mobile Apps?All of the major mobile device platforms provide access to XM. This includes the Apple iPhone, the Apple iPad, Android phones, and Android tablets. The apps are available in their respective app stores. All mobile apps are fully functional and allow for trading and monitoring at all times. Desktop platforms, however, provide a more robust feature set, such as one-click trading. What Payment Methods Can I Use?Payments and deposits into the XM trading system can be done using wire transfer, local bank transfer, electronic payment methods, and most major credit cards. Currencies are automatically converted within the account according to the base currency you selected when you open the account. There are no fees to withdraw your money, and all withdraws are completed in under 24 hours. As the laws regarding Forex trading vary from country to country, XM requires that all new accounts be verified using official documents such as a passport or driver's license as well as a recent utility bill. These two pieces of evidence serve as proof that you are who you say you are and that you live where you say you live. The minimum deposit amount for Micro and Standard accounts is $5. A minimum deposit of $100 is required to open a Zero account. What Is The XM Demo Account Like?In comparison to opening up a real money account, opening up a demo account is quite easy. With some basic personal details, anyone can open up a demo account and receive a virtual balance of US$100,000. One of the main benefits of the XM demo account is that the data provided for your trading is the same as the real market data. There are no limits or changes or restrictions on how long or how you can use your demo account. Included with this demo account is a virtual private server (VPS). This service increases the speed of your trades and is accessible 24 hours a day from anywhere in the world. How Are They Regulated?Since XM.com – and its parent company XM group – are located in the City of London, the United Kingdom, they are regulated by the Financial Conduct Authority (FCA). What Educational Materials Do They Offer?Probably the most significant benefit to the XM platform is the available educational materials. This includes an extensive database of trainings, webinars, social instruction, instructors, and their question-answer sessions, as well as published research and technical analysis. For beginners, there is a large package of training materials designed to get you up to speed and trading as fast as possible. For more experienced traders, XM also offers high-quality tracking tools and qualified analysis through a multi-lingual interface.
What Are The Account Types?XM.com offers three different trading account types which are: Micro, Standard, and Zero. Micro: Micro accounts allow for all major currencies to act as the base currency. These currencies include EUR, CHF, HUF, PLN, GBP, USD, and AUD and start at a minimum of US$5. Trading functions in "lots" and 1 Micro lot is 1,000 units of the base currency. Standard: Standard accounts can use all of the same currencies that are used in the Micro counts and also or require only a five-dollar deposit. A standard lot is 100,000 units of the base currency. Zero: Zero accounts are only able to use EUR and USD as the base currency for the account. A minimum deposit of US$100 is also required, but a total standard lot size of 100,000 units is available within the Zero account. What Are The Negatives Of This Platform?Even though the customer support at XM is high-quality and well respected, some users are disappointed that help is not available 24/7. Instead, support is only available Monday to Friday. Some users would also like there to be a more significant distinction between the account offerings. This is because the differences between the Zero, Standard, and Micro accounts are minimal. In addition, as many users use PayPal as their primary payment processor, the fact that XM does not support it can be problematic. Also, traders from the United States and Canada, as well as a few other countries, are prohibited from opening an account at XM due to licensing laws. How Do I Contact Customer Support?Customer support is easily reached through the live chat feature on XM.com. There is also the option to email customer support using the address support@xm.co.uk as well as a support telephone line at +44 203-105-1500.
Should YOU Use Them For Your Forex Trading?Whether you're a beginning trader or an experienced veteran, XM offers a wide variety of tools for you to increase your profitability with Forex trading. While XM does have a limited range of account types, it is still a solid choice that is simple to navigate and easy to use.
Which Countries Do They Work In?XM is available to traders in the following countries:
Where Are They NOT Available?XM is NOT available in the following countries:
You can compare this trading platform with:  | ||||||||
| The Advantages of Mobile Forex Trading - iLounge Posted: 10 Feb 2020 08:33 AM PST When the very first iPhone was launched by the legendary Steve Jobs back in 2007, who could have known just how much it was going to transform our way of life? It literally put the internet in our hands, with no need to be tied to a PC or laptop if we want to go online. As smartphone popularity grew, more and more apps were developed, allowing even more uses for the device. Then, in 2010, the arrival of the iPad meant that the larger screen size made even more possible. It's hardly any surprise that a decade after the original smartphone breakthrough, more people were using mobile devices to access the internet than using static computers. In fact, around 52% of all website traffic comes from mobiles, as consistently reported. It's also little surprise that virtually every sector has had to adapt the way it operates to accommodate this shift in consumer behavior. Table of Contents The mobile trading revolutionA prime example of this is the world of mobile trading, and in particular foreign exchange trading, or forex for short. Before the internet, this was an activity mainly restricted to the big banks and other financial institutions who would trade in millions of dollars worth of currency virtually every day. But, like so many things, the internet has opened the activity up to almost anyone who likes the idea of speculating on the world currency markets. That's because today there are countless online currency trading platforms on which it's simple to open an account and get to work. What's more, many of them offer the option of mobile forex trading on the go, so you can be constantly connected to the markets, as long as there's an internet connection you can use. Such a "democratization" of trading as both a profession and a hobby has meant increasing popularity with almost all demographics, as well as more user-friendly interfaces – and, of course, greater public interest in forex trading. Always in touchJust like all financial markets, for example the stock exchanges all around the world, forex offers a constantly shifting picture, with some prices rising while others fall. It's not just a matter of convenience; to have the greatest potential of success it stands to reason that the better connected you are and the more constant flow of data that you're receiving, the better informed you'll be and the more opportunity you'll have to be able to make the right move at the right time, free from the limitations of being near a computer. This means that the very first advantage of mobile forex trading is that you're able to track market trends as and when they occur. You're also then able to react to the information by choosing to buy, sell or even sit tight on your investment. Better informed and prepared In addition to the online news and price information that you can stream to your phone or tablet, the mobile forex trading revolution has meant that you're also able to access a wide range of training tools. These are especially useful for novices, as they can allow you to test strategies using one of the demo accounts that most online dealers make available, without actually having to invest any money. There are also multiple educational services and even information forums, which are a rich source of advice and knowledge that are freely available. Previously, this kind of help would cost a great deal of money to obtain; and it would have taken many years to gain the equivalent level of experience. Mobile users also have access to a wide range of tools that help analyze the markets, which can cover anything from price movements to the volume of trading being carried out or from volatility predictions to so-called "moving averages." The latter are examinations of the previous performance of a currency which can be used to try to predict where it's headed in the future. It all adds up to the general democratizing of the process of forex trading. Where it was previously only been an activity open to relatively few, now it's available to almost everyone. Special mobile bonusesAs in any sector where there are a wide number of operators, often with very few differences between them, competition is fierce to draw in new business. One strategy that a number of online forex trading platforms use is to offer bonuses for new customers. These can take a number of forms ranging from extra money to invest to cashback to reward customers. If you are considering forex trading online, it's well worth spending a little time exploring the different options available and comparing what they're offering in exchange for your custom. Choosing the right deviceBy its very nature, forex trading involves reading a great deal of information, so smaller mobile screens can make fairly challenging to some to use all the analytical tools available, at least for some. That's why many mobile forex traders favor tablets, simply for the extra control they offer. With the news that the next generation of iPad Pro is rumored to have a laptop-quality keyboard, it looks like the device might become an even better tool for mobile traders. Summing up . . .So there are very many reasons to choose mobile as your preferred method of mobile trading – but the most important of all is that you'll be perfectly placed to take advantage of this fast-moving market whenever, and wherever, you want to.  | ||||||||
| Investing in Stocks vs Forex • Benzinga - Benzinga Posted: 07 Feb 2020 10:38 AM PST  Benzinga Money is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more. It's never been easier to earn money from trading. Advances in online brokerage accounts and charting software mean that you can earn money trading from the comfort of your home or office — it's no longer confined to Wall Street. When most people hear the word "trading," they immediately envision the stock trading market. However, forex trading makes waves among investors as the market opens to more and more traders. But which is right for you — stock trading or forex trading? We'll take a closer look at the similarities and differences between stock trading and forex trading. We'll show you the pros and cons of each trading type and help you get started trading your asset of choice. What is Forex Trading?The word "forex" is short for "foreign exchange." Forex trading is the process of buying and selling different currencies. You might sometimes hear traders refer to forex trading as "currency exchange" or "FX trading." Most countries issue their own currency. The value of each currency varies in relation to one another. If you've ever traveled abroad, you might have converted a small amount of cash into the country's local currency and found that your money went further than it would at home. For example, if you travel to Vietnam, you might find that a single U.S. dollar is worth over 23,000 Vietnamese dong. You might pay 5,000 Vietnamese dong (about 20 cents) for a bottle of water that would cost you $2 U.S. if you bought it somewhere in the United States. Forex traders take advantage of this difference in value by strategically exchanging their native currency for foreign currencies. The goal of forex trading is to buy a currency when it's undervalued and sell it when it rises in value in relation to the native currency. What is Stock Trading?Stock trading involves buying and selling individual shares of a company, called "stock." A share of stock is a small piece of ownership in a company. Like currencies, shares of stock can fluctuate in price throughout the day, week and month. Factors like a company's management team, the overall state of the economy and the business decisions the company makes can all influence what each individual share of stock is worth. Stock traders aim to buy a stock when it's undervalued and sell it when it rises in value. There are 2 main types of stock traders who exchange stocks for profit:
Similarities Between Stock Trading and Forex TradingStock trading and forex trading are similar in a few regards. Let's take a look at some of the similarities between these two common trading arenas. BrokeragesA broker is someone who buys or sells an asset on your behalf in exchange for a small fee or commission. Both stock trading and forex trading use brokers to facilitate your transactions. You can quickly create a brokerage account online and begin trading as soon as you fund your account. While most U.S. brokerages will offer access to the stock market, not every broker services forex transactions. To learn more about brokerages that offer access to forex trading, check out our list of the top forex brokers. Short-Term TradingBoth forex traders and stock traders rely on relatively short-term trading strategies. A stock trader who's trading with the intent to make a profit usually won't be interested in holding onto his or her stock for years to come. Similarly, a forex trader only wants to hold currency until he or she can exchange it for a profit in his or her base currency. Technical AnalysisTechnical analysis is a type of financial analysis that uses patterns and indicators to inform a trader when he or she should buy or sell an asset. Traders who use technical analysis to inform their trading strategy typically don't spend a lot of time reading the news or researching a company's business plan. Instead, they may look at candlestick charts for indicators that a stock or currency will drop or rise in price soon. Both forex traders and stock traders primarily rely on technical analysis when they decide what they should buy or sell. Because the price of a stock or currency may change on a minute-to-minute basis, it's important that you have a reliable technical analysis program to inform your trading. Differences Between Stock Trading and Forex TradingForex trading and stock trading also have a number of key differences you need to understand. Let's take a look at some of the largest differences. LeverageIn the world of trading, "leverage" is the power to open a position that's larger than the capital in your account. You might hear some traders refer to using leverage as "trading on the margin." Leverage is usually expressed as a ratio. For example, let's say that you have $100 in your brokerage account and your broker offers you 100:1 leverage. This means that for every $1 in your brokerage account, you can trade with the power of $100. If you have $100 in your account and 100:1 leverage, you can place a trade worth as much as $10,000. Leverage is a crucial part of forex trading because currencies usually don't see massive fluctuations in price. It's normal for a currency to increase in value by just $.0003 in a whole day. This means that you'll typically need at least $100,000 to invest to see any type of significant profit on your trades. Leverage makes it possible to profit on forex trades without having hundreds of thousands of dollars to invest. On the other hand, leverage is also risky and can quickly wipe out your deposit if you don't make smart trades. Leverage is rarer on the stock market. You may only be able to find 2:1 leverage with many brokers. However, stocks also move in value more dramatically, which means that you need to invest less to see a profit. Trading HoursThe forex market isn't centered around a single time zone or set of hours. Each forex market has its own hours of operation. Let's take a look at when a few of the world's largest stock markets are open.
You can see the highest liquidity when trading hours overlap. However, the forex market is technically open 24 hours a day except on the weekends because there's a global demand for currency that isn't limited to a single time zone. When most people talk about stock trading, they're referring to trading on the New York Stock Exchange (NYSE), the largest exchange in the world. The NYSE is open from 9:30 a.m. EST to 4 p.m. EST Monday through Friday. The NYSE is closed during the weekends, and it's also closed during major American holidays (like Christmas and Labor Day). Market SizeMany traders prefer the forex market thanks to its massive daily trading volume. Every day, the forex market sees about $5.1 trillion worth of trades. This makes the forex trading market the largest exchange in the world by far. The stock market is significantly smaller than the forex market. The NYSE sees about $169 billion worth of trades each day it's in operation. Though this number doesn't include the daily trading value of foreign markets, the stock market still pales in comparison to the size of the forex market. Pros and Cons of Stock TradingBefore you decide to start stock trading, be sure you consider the pros and cons of entering the market.
Pros and Cons of Forex TradingForex trading also comes with a number of unique pros and cons.
Choose the Right Trading Style for YouWhether you decide to start stock trading or forex trading, you'll want to make sure that you have a strong technical analysis background. Both forex trading and stock trading rely heavily on short-term price movements, so an up-to-the-minute charting software is an absolute must-have. Be sure to learn more about how you can get free forex charting software or the best stock trading software before you invest your money.  |
| You are subscribed to email updates from "forex trading platforms" - Google News. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
Comments
Post a Comment