Fundamental-vs-Technical Analysis

Fundamental vs Technical Analysis

Fundamental vs. Technical Analysis For Online Trading

Despite their differences, fundamental and technical analysis are two of the most popular approaches to market analysis for online traders. Research and forecasting of future Forex and commodity values are done using both. Advocates and detractors exist for any financial method or ideology.

The price movement of an instrument is examined in technical analysis in order to make predictions about future price changes. A business’s economic and financial health is examined using fundamental analysis.

Take a closer look at how these two methodologies vary, as well as the arguments against technical analysis and the ways in which they might be combined, in this comprehensive article.

The role of fundamental analysis in Forex trading

technical analysis

The goal of fundamental analysis is to determine a currency pair’s intrinsic worth or a currency’s value. The financial strength and management of particular organizations or economies are examined by fundamental analysts, who research the general economy and industry conditions.

Political, economic, and social factors are all examined by fundamental analysts.

A fundamental examination of these macroeconomic factors and the market as a whole is the starting point for most discipline online traders to get to grips with their trades.

The method of determining an instrument’s intrinsic worth forms the basis of fundamental analysis, and it involves looking at all aspects of a company or market.

When it comes to investing, fundamental analysis tends to take a more long-term strategy than technical analysis. When it comes to basic analysis, it’s common to look at data over several quarters or even years.

Value investors, for example, typically believe that the market is undervaluing an instrument in the near term, but also believe that the price will eventually right itself. In some circumstances, the “long-run” might refer to a period of time stretching over several years.

Investors with a focus on the fundamentals also rely on macroeconomic reports and news items as well as price and volume statistics.

It’s because the price and volume data utilized by technical analysts is generated so quickly that fundamental experts can only look at the instrument or currency pair over the long term.

When it comes to Forex trading specifically, a fundamental forex trader utilizes fundamental analysis to examine the general economic status of a country and its inflation, as well as conditions that affect the sector, such as trade balance, GDP, growth in jobs, or even the central bank’s benchmark interest rate.

A trader decides whether or not to trade the future movement of a country’s currency based on all of the information presented above.

The role of technical analysis

Trading opportunities can be found by analysing the movement of an instrument’s price and volume using technical analysis, which is distinct from fundamental analysis. All known fundamentals are assumed to be included in the price, and hence there is no need to pay attention to economic news.

An instrument’s inherent worth cannot be determined by technical analysts. Currency pair charts, on the other hand, are used to discover patterns and trends that can help investors predict how a currency pair will perform in the near term.

Simple moving averages (SMA), support and resistance levels, trendlines, and momentum indicators are all common technical analysis signals.

Technical analysis using simple moving averages

fundamental analysis

Simple moving averages are indicators that help determine the current trend of stock by calculating the average of the instrument’s price movements over a predetermined period of time. When a shorter-term moving average crosses a longer-term one, buy and sell signals are formed.

Price history is used to determine support and resistance. Where buyers had previously stepped in as support, sellers have obstructed price rise as resistance. With support and resistance, traders look to purchase and sell.

Similar to support and resistance, trend lines serve as a guide for when to enter and exit the market. They differ, however, in that they are based on historical price movements of the currency pairs. When An instrument is moving to new highs or new lows, it is common to use these indicators.

It’s possible to use a variety of momentum-based indicators, including Bollinger Bands and Chaikin Money Flow. Each of these has a different formula and provides different buy and sell signals. The use of momentum indicators is more common in range-bound and trendless markets.

Trading with both strategies

There is a lot of disagreement among forex traders over whether the style of market analysis is more beneficial in terms of trading profits.

An increasing number of online trading schools are offering some insights into establishing your trading strategy, along with advanced training for both novices and experienced traders.

Fundamental and technical analysis are two tactics that are equally effective depending on the extent of each trader’s operation.

Their methods of trading are very different from one another. Some traders prefer to utilize these two types of analysis independently, depending on their trading style and goal, while others combine them together.

Other traders, on the other hand, prefer to utilize a combination of fundamental and technical research because the combination of the two offers numerous advantages.

Popular fundamental trading strategies

News trading strategy

The term “news trading” refers to one of the most well-known of all fundamental trading strategies. That is, to decide whether to buy or sell a currency pair depending on your assessment of recent economic news.

Economic news, which is one of the most important sources of volatility in the currency market, dictates price levels the vast majority of the time.

Traders examine the economic calendar and make interpretations based on the differences between the actual and predicted data. If the conclusion is better than expected, the currency will appreciate in value.

Geopolitical trading strategy

When fear abounds in the markets, the currency market is the first to react. Because of its great volatility, it can change direction in the blink of an eye.

The value of some currencies fluctuates in response to bad geopolitical events that occur around the world. In order to avoid this, investors would seek refuge in safe-haven currencies no matter what the technical setup or the normal economic analysis indicates.

How to develop technical trading strategies


Trader strategies are a collection of rules that define when the trader will act. Trade filters and triggers, which are generally dependent on indicators, are common components of many trading strategies.

Trade triggers determine precisely when a specific action should be executed, while trade filters identify the setup circumstances. For example, a price that has closed above its 200-day moving average could be used as a trade filter.

An overly simplistic approach to trading, such as just buying when the price crosses above a certain threshold (e.g., the moving average), is usually ineffective.

Some of the most popular technical indicators, such as a moving average and stochastics, are now available for technical traders to study in addition to proprietary indicators that may be purchased.

As a result, many traders create their own distinctive set of indicators, often with the help of a competent programmer.

The “look-back period” (the amount of previous data that will be utilized to generate the calculations) is typically a user-defined variable in most indicators, allowing traders to customize critical inputs to their own needs.

Final Thoughts

There are two methodologies for assessing instruments: technical and fundamental. However, some investors have found success by combining the two.

It is possible to uncover undervalued instruments using fundamental analysis, and then utilize technical analysis to establish a precise entry and exit point. When an instrument is oversold and initiating the position too early will be detrimental, this combination may perform best.

Alternatively, some traders who rely heavily on technical analysis may turn to fundamental data in order to bolster their position.

If a breakout occurs around an earnings release, a trader may examine the fundamentals to determine whether or not the instrument is likely to beat earnings expectations.

Other useful resources:

FSCA-Regulated Brokers

Become an Introducing Broker

How is Forex Income Taxed?

MT4 Expert Advisors

Best Brokers in Zimbabwe

Calculate forex lot size

How to Calculate Lot Sizes for Forex Trading

How to calculate lot sizes for forex trading

To trade currency pairs, you must first understand the notion of a lot, which is used in the forex market. In this comprehensive guide we explain the concept of a Forex lot, why it is significant, and how you may use it to calculate the size of your position.

Understanding a Forex lot

calculate lot sizes

In forex trading, a lot is a unit of measurement that is used to standardize the size of trades. Pips are used to measure the change in the value of one currency when compared to another. Pips are the fourth decimal place and, as a result, are extremely small units of measurement.

As a result, trading a single unit is no longer feasible, and lots are created to allow people to trade these minor movements in larger quantities.

A lot is determined by an exchange or a comparable market regulator that the value of a lot is fixed, which ensures that everyone trades in the same amount and understands how much of an asset they are trading when they register an account.

In order to provide traders with greater control over the amount of exposure they have, lots are broken into four sizes: regular, mini, micro, and nano.


Understanding Forex lot sizes

So, how much does one lot of forex cost in terms of value? You can trade a regular, mini, micro, or nano lot depending on how much money you want to risk.

Trades in foreign exchange are divided into these four standardised units of measurement in order to account for slight fluctuations in the value of a given currency.

Using standard lots

For purposes of financial trading and investing, a “lot size” can be defined as an indication of how much of a specific asset or product can be purchased or sold in a given amount of time. In most cases, different types of items are offered in a variety of different lot sizes.

Spot forex has traditionally only been traded in specific lots of 100, 1,000, 10,000, or 100,000 units, depending on the market. Non-standard lot sizes, on the other hand, have been increasingly available to forex traders in recent years.

A standard lot is equal to 100,000 units of any currency, whereas a mini-lot is equal to 10,000 units of any currency and a micro-lot is equal to 1,000 units of any currency. When it comes to standard lots, a one-pip movement amounts to a $10 shift in value.

Using mini lots

lot sizes

In foreign exchange trading, a mini lot is a lot size that is one-tenth the size of a standard lot, which is 100,000 units—or 10,000 units—in size.

When trading a mini lot of a currency pair based in U.S. dollars, one pip is equal to $1.00, however, when trading a regular lot of the same currency pair, one pip is equal to $10.00.

Mini lots are the most frequent lot sizes in forex mini accounts, which may be opened with some forex broker-dealers and used to trade currency pairs.

Mini lots are frequently utilized by novice traders who are new to the market and learning the ropes of the trading business.

As a result of the fact that price swings in mini lots have a far smaller impact on profit and loss, the volatility of open positions is lower, and traders do not require as much capital in their accounts.

New traders can start with as little as $100 in a small account, as opposed to having to fund a normal account with $1,000 or $10,000 to begin trading with.

Mini lots can also be used by advanced traders to get greater control over their trade positions. For example, a trader may desire to average into a new trend in smaller increments than 100,000 units at a time rather than 100,000 units at a time.

Automated traders can also benefit from the 10,000 unit increments of mini lots, which allow them to fine-tune their tactics in order to achieve maximum profits while taking on the least amount of risk.

Using micro lots

The size of a micro forex lot is one-tenth that of a mini lot. This signifies that it is worth a total of 1000 currency units.

Using micro-lots, a pip movement corresponds to a monetary swing of one currency unit, for example, one euro if you were trading the euro.

Micro lots also require less leverage, which means that a fluctuation in the market would not have as significant a financial impact as it would with bigger lot sizes.

Using nano lots

The size of a nano lot is one-tenth that of a micro lot in Forex. It is equal to 100 currency units. Using a nano lot, a one-pip movement represents a price change of 0.01 units of the base currency you’re trading, for example, €0.01 if you’re trading the euro.

By using nano lots, you may customize your lot size to match the specific trade you are entering into at any given time. You can set a stop-loss that makes sense, based on the trade that you are taking and not because of the size of your account.

Nano lots are also a great device to use for backtesting. By putting a modest amount of money at risk, rather than a large amount of money, you can determine whether or not a trading strategy is one that can be used in real-world trading situations.

How to calculate a Forex lot size

When trading Forex, one of the most critical decisions you will make is how large your position should be. Leverage has an effect on position size, and while trading a large position can multiply the value of a potential victory, it can also exponentially increase the value of a prospective loss.

As a result, when trading, investors should always examine the size of their positions. If an excessive amount of leverage is used in a certain position, the results could be excessively catastrophic to one’s account balance.

Traders can follow the steps below to calculate their lot size:

  1. Calculate your risk: It is necessary to calculate your risk in terms of percentages before you can establish the right lot size to use. Normally, it is suggested that traders adopt the 1 percent rule. As a result, in the event that a trade is closed out at a loss, no more than one percent of the overall account balance should be at risk.
  2. Set a stop loss: The same as with any open position, a stop loss should be established to indicate the point at which a trader desires to quit a trade in the event that the market moves in their favour.

There are nearly limitless ways stops can be put. When placing orders, traders would typically use major lines of support and resistance as guiding lines. Price action, pivots, Fibonacci ratios, and other approaches can be used to determine these values by traders.

  1. Calculate the pip cost: It is necessary to calculate the pip cost for your trade as the final step in choosing lot size.

The cost of a pip is the amount of money you will gain or lose for each pip. As the size of your lot grows, so does the cost of your pip. On the other hand, if you trade with a smaller lot size, your profit or loss per pip will be reduced as well.

Why you should determine your lot size

calculating lot sizes for forex trading

Discovering the optimal lot size for a given investment opportunity and risk is a very significant individual choice.

Making decisions about lot size with the use of a tool such as a risk-management calculator can be beneficial; however, it is important to do so while taking into consideration your particular risk tolerance and trading objectives.

The size of your trading lot has a direct impact on the amount that a market shift affects your accounts. If a 100-point movement occurs on a little deal, it will not have nearly the same impact as a 100-point movement occurring on a huge trade.

Because of this, it is critical to select the appropriate lot size. A lot size that is too large will increase the danger of the deal and make it more difficult to hold on to it. It is possible that a lot size that is too small will not yield enough potential income to make it viable.

Final Thoughts

As with any other area of Forex trading, it is crucial for traders to approach the markets with a sound risk-adjusted trading strategy.

Lot size should be included in this strategy, and as your risk tolerance increases with the level of your experience, so too can your lot size.

As with any new learning curve, learning the art of Forex trading requires time and patience, and giving yourself the time to master the markets with nano, mini or micro lots will put you in a prime position to start earning greater profits with standard lots.

Other useful resources:

FSCA-Regulated Brokers

Become an Introducing Broker

How is Forex Income Taxed?

MT4 Expert Advisors

Best Brokers in Zimbabwe

Trade while working full time

How to Trade Forex if you are Working Full Time

How to trade if you are working full time

Trading Forex while working full-time can be quite a task. Even though most people believe that it is impossible to become a profitable trader while still working a 9-5 job and finding time to spend with family and pursue hobbies is a lofty goal, there are steps you can take to improve your trading while still benefitting from your full-time career.

In this article, we will consider the best approach which fully employed traders can take in order to make the most out of their trading time.

Top 10 tips on how to trade Forex while working full-time

1.    Set up your chart beforehand

trade forex when working full time

If you set up your charts over the weekend, you will save time throughout the trading week by not having to spend time charting and analysing your trades. All that is required of you is to wait for the price to move in the direction of your entry before proceeding.

Also, if you simply want to trade half time, you may fit in all of your analysis around your current job schedules. If you work during the day, you do all of your analysis at night. If you work evenings, you should do the reverse.

You can also conduct your market analysis before or after work, depending on what is most convenient for you. Developing prospective trading tactics outside of market hours is still another alternative to consider.



2.    Focus on time management

Trading while working a full-time job will require some careful time management. You’ll have to balance a lot of commitments while also making time for day trading.

Getting up earlier in the morning, doing research on potential plays very early in the morning or very late in the evening, and developing potential trading strategies on Sundays are just a few examples of how you can make use of your free time to maximize the minutes you have available to trade during market hours.

3.    Trade during periods of high liquidity

Trading during periods of high liquidity will typically be during the London and New York sessions. Because the majority of multinational banks have branches in the city, market liquidity is at its maximum during the London session.

During these periods, spreads are lowered, and you have the opportunity to profit from large-volume market swings.

Trading at times when your currency pair is most active is yet another approach to consider using. The majority of lucrative market activity occurs during these hours or around and a few hours after the opening of the US stock market.

4.    Implement an organisational schedule

working full time

Because time will be at a premium when you combine trading with a full-time job, it is critical that you become extremely organized before starting.

Being well-organized at work and at home will help you to decrease mental clutter and maximize spare time, allowing you to devote more time to trading.

For example, if you have a family, you might want to consider scheduling blocks of time during which you can concentrate solely on your trading activities. It is possible that your partner will be in charge of cooking, taking care of the children, and other household duties at these times.

You can also schedule errands and important jobs, like paying bills, at specific times of the day so that your focus is not diverted from your primary activity. Every little thing you can do to manage your life will provide you with more time and space for trading, and there is significant value in that.


5.    Consider automated trading

Part-time traders have the option of trading on their own or using an automated trading tool to execute deals for them on their behalf.

Market participants can choose from a choice of automated trading programs that perform a wide range of duties.

The ability to monitor currency values in real-time, place market orders (impose limit orders, market-if-touched orders, or stop orders), recognize profitable spreads and automatically order the transaction are all capabilities that some of them may possess.

Important to keep in mind is that even if a trade is ordered, there is no guarantee that the order will be honoured on the trading floor at the price anticipated, which is especially true in a fast-moving and unpredictable market.

A “set and forget” program, which lets the software to make automated judgments, may be the greatest option for a new part-time forex trader who is just getting started.

Several automated trading programs provide a basic “plug and play” feature, making them a convenient option for part-time traders to get their feet wet in the trading world.

One of the most significant advantages of automated trading is that it allows traders to make deals in a disciplined and unemotional manner.

Part-time traders with a lot of experience may prefer a more hands-on approach to trading by using automated trading software that has more programmable options.

6.    Have a disciplined approach to your trade execution

Traders who choose to make their own decisions rather than relying on automated systems must maintain their composure and dispassion in order to be successful.

Part-time traders are urged to capture profits as soon as they are realized rather than waiting for larger spreads and higher profits to emerge.

This necessitates a certain amount of self-control in fast-moving markets where favourable spreads can widen. Market trends can flip around in an instant owing to unforeseeable external factors, therefore successful traders take profits when they can when the opportunity arises.

However, as previously stated, there is no guarantee that a stop order will be filled at the predicted price. Trailing stop orders and stop market orders can be used to protect against sudden market reversals and to reduce risk.

Part-time traders with little or no experience are advised to start with tiny sums of currency when first starting out in the market.

7.    Be realistic in your expectations

Trading may be a very emotional endeavour, and this is understandable. As a part-time forex trader, you must exercise caution in order to avoid moving too quickly and too soon. Maintain a realistic perspective on how much you can accomplish in the limited amount of time you have available.

If you establish unreasonable goals for yourself and then fail to achieve them, you may experience an emotional reaction that leads to foolish trades and significant losses.

The most effective methods of ensuring success are to build up steadily and observe market trends over an extended period of time.

If you set modest, attainable goals, you can devise a strategy for achieving each one, evaluate your progress, and move on to the next small goal.

8.    Take advantage of online trading communities

The most effective strategy to become a successful part-time forex trader is to learn from others who have gone before you in their endeavours.

Numerous individuals have tried and tested every feasible strategy, tool, and method and are willing to share their discoveries with the world via the internet.

Any facet of forex trading may be found, discussed, and learned about through the use of online discussion boards. If you have a specific question, you can initiate dialogues with other people by asking for direct guidance.

9.    Go long

full time working and forex trading

Even if you are only a part-time forex trader, you will need to be familiar with a number of different trading tactics. Scalping, as previously indicated, is simply one of these methods. As an independent trader, you have complete control over how long you intend to hold the deal.

Take a longer position to hold the trade for days rather than minutes, as an alternative to holding a shorter position. Swing trading is a type of trading in which you study medium-term price swings in order to decide the optimal time to enter a transaction.

As a result, it is ideal for part-time forex traders, as it involves only a small amount of time each day to keep an eye on what is happening in the markets.

This technique necessitates patience because, in the short term, interest rates will fluctuate, and you will need to maintain your composure until they begin to rise again.


The size of your stop losses will also need to be larger to accommodate a larger swing than you would tolerate in a short-term transaction.

10. Use a trading journal

A trading diary is a written record of all of your deals and trading activity that you keep track of. You complete it on a daily basis, and you use it to plan, reflect, and adjust your trading strategy as necessary.

This may appear to be very simplistic, but in order to succeed as a forex trader, you must be methodical and thorough and keep constant track of your past decisions in order to inform your future trading decisions

You can keep track of your profits and losses, as well as analyse what happened and why. If you incorporate these principles into your trading, you will have a solid foundation for success as a part-time forex trader in the future.

Other useful resources:

FSCA-Regulated Brokers

Become an Introducing Broker

How is Forex Income Taxed?

MT4 Expert Advisors

Best Brokers in Zimbabwe

Economic news websites

Best Forex Trading Economic News Websites

Best forex trading economic news websites

The act of monitoring economic news sources to inform your Forex trading is referred to as fundamental analysis, and it forms a critical aspect of developing successful trading strategies.

Forex analysis generally falls under two categories, namely technical and fundamental, and while many traders choose to focus solely on technical analysis (through the use of charts and indicators), fundamental analysis allows Forex traders to follow economic developments around the world and the impact which these may have on currency price changes.

In this article, we take a closer look at fundamental analysis, and provide traders with the best economic news websites which they can use in order to make informed trading decisions.

News sources for conducting fundamental analysis

The application of fundamental analysis in forex involves looking at the economic conditions that influence the value of a country’s currency.

A country’s economic health can be assessed through the publication of statistics, whether they come from the government or a non-profit group. Many causes and policies affect a country’s economy, and economic reports are the way by which that health can be directly monitored.

These reports are produced on a regular basis and give the market an idea of how well or how badly the economy of a country is doing.

When looking at a country’s economy in general, GDP is a useful indicator since it shows the total market value of all products and services produced inside that country over the course of a year.

Prior to the final GDP results, most traders focus on two reports that are produced in the months leading up to them: the advance and preliminary reports. There can be a lot of volatility if there are significant changes between these reports.

Another useful analysis source is the retail report. This report measures the overall sales of all retail outlets in a certain country. There are many retail stores across the country that contribute to this measurement.

As a timely measure of broad consumer spending trends that is controlled for seasonal influences, this report is particularly important. Predicting future lagging indicators and assessing the current path of an economy may be done using this indicator.

Then, with the industrial production report, the production of industries, mines, and utilities in a country is shown to have changed through time.

There’s also “capacity utilization,” which measures how much capacity each factory has to work with. When a nation’s capacity utilization is at or near its maximum, it is ideal to see a boost in production.

Because the utility business and energy trading and demand are significantly affected by weather, traders utilizing this indicator are usually concerned with utility production.

Finally, the change in the prices of over 200 distinct types of consumer products is tracked by the Consumer Price Index.

When compared to a country’s exports, this report can show whether or not its goods and services are profitable. It’s a good idea to keep an eye on exports, though, because the price of exports might alter depending on the strength or weakness of the currency.

The best economic news websites and sources for Forex traders

Now that we have taken a closer look at the type of economic indicators which traders should focus on when conducting fundamental analysis, we can explore some of the best websites that provide traders with this useful data.

While some of these news publications might not publish the separate economic indicators per se, they also provide reports that integrate, or respond to, the publication of these indicators, providing traders with a useful summation of important global developments.

1.     TradingView

trading view logo

TradingView is the first place that all traders should go when they start their day. Traders can access free trading charts with superb design, receive expert trading analysis, read about trading, and learn about trading.




2.     FXStreet

fx street logo

FXStreet gives readers the option of filtering articles based on specific currency pairs, allowing them to get the news and information they are looking for more quickly.

Additionally, this website provides readers with the option of selecting news based on current events such as the trade war between the United States and China or Brexit, among other things. If you are interested in cryptocurrencies, this news site will also provide you with relevant information.

If you are a forex trader, you should visit this website on a daily basis because it is unquestionably the best forex news website available at the moment. A vast number of articles are published on FXStreet every day, with some pieces being published every few minutes.

If there is anything new on the market, you will most likely be able to find out about it by checking this page.

Various topics, ranging from major and minor currency pairs to the economies of various countries, are discussed on this page. Due to the fact that the FXStreet platform also enables prominent brokers and banks to publish on their platform, not all articles are authored by the company’s crew.

3.     Forex Factory

forex factory logo

Because of their valuable and insightful forex news, Forex Factory is a great location to get forex news updates. Instead of publishing articles written by its authors, this website publishes the greatest articles published on numerous currency news websites, including this one.

Because of this aggregation, it is one of the most competitive candidates for the top forex news websites.

This website assures that you do not have to visit multiple forex news websites to find different types of news; they select the best and provide it to you in one convenient location.

This is an intriguing feature on the Forex Factory website, where they highlight stories that have a measurable impact on the market.

4.     DailyFX

daily fx logo

All of DailyFX’s emphasis is focused on forex news, and their excellent staff of writers writes their articles and market reports written by market experts.

DailyFX, like the other top forex news websites, also publishes short-form pieces, which may include technical analysis. A highlight is that this website includes an entire page dedicated to technical analysis, making it a virtual haven for technical traders.

Using the percentage of currency pairings that are purchased and sold, this website can also tell you how many bullish and bearish traders are currently active in the market. In addition to forex news, DailyFX provides updates on commodities goods, stock indexes, and cryptocurrencies.

5.     Investopedia

Investopedia logo

Investopedia provides a comprehensive overview of the financial markets. This is the largest knowledge website for all traders, and traders can define a large number of significant trading terminology on this website.




6. logo

This site covers a wide range of topics in this industry, including the stock market, cryptocurrency, commodities and foreign exchange trading (forex).

The site divides its pieces into two categories: political and economic issues. Additionally, their live charts are a treat for traders because they display certain critical events as well as candlestick patterns, which can assist traders in entering and exiting the market at the appropriate times.

Additionally, offers a wide range of technical tools and information for traders who are interested in making judgments based on technical considerations.

Their primary focus remains on pivot points and moving averages, but they also have access to the majority of the important technical indicators to assist traders in making more informed trading decisions.

7.     Forexlive

forexlive logo

Easily one of the top forex news websites accessible now on the market, Forexlive publishes a significant number of articles every day, and they have a large number of subscribers.

They generally publish brief news stories, sometimes only a few hundred words in length, because their primary goal is to cover as many topics as possible in order to keep their readers up to date.

Forexlive directs readers to news stories and leaves the evaluation of those stories to you. They also include a section dedicated to technical analysis for traders who are particularly interested in this type of trading.

These technical articles are also brief, despite the fact that they are jam-packed with important statistics, figures, and data.

8.     BabyPips

babypips logo

BabyPips is widely regarded as a leading forex education website and a top forex news website when it comes to training traders. They write content that is both entertaining and instructional, and they occasionally include a humorous edge to keep their readers entertained.

In addition to currency analysis, they produce articles, the majority of which are based on the United States Dollar. Every Monday, BabyPips provides its weekly forecasts, and every Friday, it offers reviews of numerous currencies.

Their papers are primarily concerned with fundamental concepts. You can combine technical news released on other websites with BabyPips if you are seeking technical aspects. This will give you the advantage of both fundamentals and technical factors.

9.     FX Empire

fx empire logo

Every day, one article is published in the forex news area of FX Empire, but the forecasts section is where the real money is to be made for traders.

FX Empire produces frequent news in this part and provides traders with filters to look for the themes that interest them the most.

The best part about this forex news website is that it also publishes articles on other financial instruments such as stocks, indices, commodities, and other similar instruments.

Other useful resources:

FSCA-Regulated Brokers

Become an Introducing Broker

How is Forex Income Taxed?

MT4 Expert Advisors

Best Brokers in Zimbabwe

How is forex trading taxed in South Africa?

How is forex trading taxed in South Africa

How is forex trading taxed in South Africa?

Forex traders in South Africa often don’t know what their tax responsibilities are to the South African Revenue Service (SARS) (SARS).

Some traders open trading accounts with forex brokers in South Africa, or with international brokers that have branches in South Africa, so that the gains they make from their trading are visible to SARS.

As a result of a frequent misconception, many traders believe that they don’t have to pay income tax on earnings obtained in offshore trading accounts.

Tax returns must be filed in South African Rand if a South African resident makes money through trading in an offshore trading account while located in South Africa, and the profit is considered normal taxable income.

No matter where the money comes from, what matters is the person who generates it, not the place they live. To provide more clarity on the taxable nature of Forex income, we are going to take a closer look at Forex trading and how it pertains to South African residents’ obligations to SARS.

This is how forex trading is taxed in South Africa.

Why is Forex trading taxable?

In order to generate a profit, traders speculate on the value of currencies. When trading currencies, a trader is betting on whether one currency will rise or decline in value in relation to the other currency when trading.

There are several factors that affect the value of a currency pair, including trade flows, economic, political, and geopolitical events. A forex trader may find new chances for profit in the daily volatility that results from these circumstances.

You can trade currencies from your phone, laptop, tablet, or PC using online trading platforms provided by worldwide brokers, or from brokers established in South Africa.

‘Trading’ and ‘income’ are the key words in the question. There’s a strong implication here that you intend to trade FX for profit.

As a result, any profit you make through forex trading is subject to income tax at the individual’s marginal rate under the Internal Revenue Code. As a result, you can deduct any costs you incur in generating money.

Since your worldwide income is subject to South African taxation, you’ll need to include the profits (converted to rand) in your yearly tax return. Provisional taxes are also due in August and February each year.

To be clear, this is not an additional tax, but rather a way to pay your annual tax, since your income will not be subject to PAYE.

In the event that you relocate outside of South Africa, it is crucial to keep in mind that you may still be a tax resident subject to South African tax if you move without proper emigration proceedings.

Emigration from South Africa requires submitting an application to both SARB and SARS. Emigration may result in a capital gains tax liability, depending on your personal circumstances.

The various ways the Forex trading income is taxed by SARS

It can be paid as provisional tax

Most South African forex traders don’t get paid by a registered South African employer for their forex trading activity, which is a company.

In order to be legally compliant, these traders must register for provisional tax and pay two provisional tax payments every year, these traders must do so.

To make up for any deficiency in the second payment, a third payment, sometimes known as a “top-up,” may be made. Estimated taxable income is used to determine the provisional tax payments, which are then reported to SARS on an IRP6 return. Provisional tax must also be paid by companies.

It can be paid as tax deductible expenses

If you’re a South African forex trader, you’re allowed to deduct any expenses you incur in making money from your taxable income.

In order to keep track of all of their trading expenses, local forex traders should preserve receipts for everything from employee wages to training expenses to software purchases to office supplies to computer maintenance to bank fees.

A trader’s taxable income might also be reduced by asset depreciation (the wear and tear). Depreciation of a forex trader’s computer, for example, might be deducted from the profits he receives from his trading activity.

All expenses made in generating the income, whether through a registered company, a small business corporation, a trust, or in an individual’s personal capacity, can be deducted from the taxable revenue.

When you are taxed as an individual

People who trade forex as individuals and in special trusts are taxed according to the amount of money they make. If a trader’s total annual income surpasses a set annual threshold that is established by their age, they are only obligated to pay income tax.

When you are taxed as a business entity

There are a slew of other factors to consider before deciding whether to conduct business as a corporation or as an individual sole proprietor.

When setting up a corporation in South Africa, keep in mind that even if you later move to another country, the company will continue be taxed in South Africa.

A flat tax of 28% of taxable income applies to any forex trading conducted through a South African registered firm.

In contrast to corporations, small business corporations are exempt from tax until their taxable revenue exceeds R75, 750.

How to declare your Forex trading income

In the “foreign revenue” and “business/trading” sections, forex earnings and losses would be listed. Using the SARS tax tables, a person’s rate of taxation would be determined by their income.

To calculate revenue, SARS monthly exchange rates must be taken into account. SARS has a page dedicated to these on their website.

The importance of using a regulated broker when it comes to taxable trading

To provide advice or intermediary services in South Africa, forex advisors and intermediaries must be registered with the Financial Sector Conduct Authority (FSCA).

It doesn’t matter if the product is domestic or foreign-made. Check the FSCA’s website to make sure a broker is authorized to provide services in South Africa before hiring them.

In the same way, if you’re moving abroad, be sure any broker you choose is properly licensed by conducting research on them.

Below is a helpful list of some of the best regulated Forex brokers in South Africa, to ensure that your trading is legal and above-board. Each of these brokers has been registered and licensed with the Financial Sector Conduct Authority (FSCA).

khwezi trade

Khwezi Trade


Located in South Africa, Khwezi Trade is a forex and CFD broker that operates online. Technical indicators and expert advisors are both supported by the broker’s trading platform, MT4, which is the industry standard for trading software and is used by the majority of financial institutions.

Among the most favourable trade circumstances available in the sector are those offered by Khwezi Trade. The broker’s spreads are tight, averaging 0.6 pips on average, and there are no commissions charged for trading with the broker.

Pros and Cons

✔ Pros ❌ Cons
Trusted forex broker with regulation through the Financial Sector Conduct AuthorityNo crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensingThere are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South AfricaUS clients are not accepted
Traders are provided access to powerful trading technology
Competitive spreads are offered
There is a decent maximum leverage ratio offered


👉 Featureℹ️ Information
👮‍♂️ Regulation👍 FSCA
💵 Minimum deposit from💰 ZAR500
⚖️ Average spread from👉 0,6 pips
📈 Commissions fromN/A
💸 Deposit/Withdrawal FeesN/A
⚖️ Maximum Leverage⚖️. 1:400
🤑 Bonuses👍 30%
❓ Customer Support🏪. 24/5




Tickmill charges lower trading fees than the majority of its competitors. It is possible to open a spread-only account with Tickmill, which has spreads of up to 0.1 pip.

Tickmill’s deposits and withdrawals are likewise completely free of charge. There are a variety of ways to make deposits, including bank transfer, credit card, and Skrill.

As a trading platform, MetaTrader 4 is provided by Tickmill and may be used on a variety of platforms including PCs, WebTraders, and mobile devices including smartphones and tablets.

Pros and Cons

✔️ Pros❌ Cons
STP model
Advanced trading software
Competitive pricing
Well regulated
High leverage


👉 Featureℹ️ Information
👮‍♂️ Regulation👍 FSCA
💵 Minimum deposit from💰 $100
⚖️ Average spread from👉 0.1 pips
📈 Commissions from📈 2% per 100,000 traded
💸 Deposit/Withdrawal Fees🙅 None
⚖️ Maximum Leverage⚖️ 1:500
🤑 Bonuses👍 $30 Welcome Bonus
❓ Customer Support🏪 24/5




HotForex offers a choice of account types that are suitable for both beginner and experienced traders. The broker offers a Premium account with a EUR/USD spread of 0.0 pips on average, and there are no additional fees associated with this account.

The MT4 and MT5 trading platforms are available to all traders. There are 49 FX pairings to pick from, as well as CFDs on metals and indices, 56 stocks, 7 commodities, and 7 cryptocurrency pairs. The broker has a low minimum deposit requirement of only $5.

Pros and Cons

✔️ Pros ❌ Cons
No deposit or withdrawal feesHigh commission charges on the Zero account
Competitive spreads


👉 Featureℹ️ Information
👮‍♂️ Regulation👍 CySEC, DFSA, FCA, FSA, FSCA
💵 Minimum deposit from💰 $5
⚖️ Average spread from👉 0,0 pips
📈 Commissions from📈 USD 0.03 per 1K lot.
💸 Deposit/Withdrawal Fees🙅 None
⚖️. Maximum Leverage⚖️. 1:1000
🤑 Bonuses👍 100% Supercharged Bonus
❓ Customer Support🏪 24/5

Other useful resources:

Nasdaq 100 Forex Brokers

Forex Brokers with ZAR Accounts

Forex Brokers with Demo Accounts

How to become an introducing broker

How to become an introducing broker

How to become an introducing broker

Individuals and companies that accept orders to purchase or sell financial assets but do not take money from clients to do so are known as Introducing Brokers (IBs).

While working closely with their clients, an Introducing Broker does not actively execute trades. The broker is responsible for this. On a commission basis, an IB refers clients, teaches them how to use the platform and provides them with the necessary services and support.

There are numerous benefits to becoming an Introducing Broker or Partner, and this article we will take a closer look at how IB’s can benefit from this partnership as well as the steps needed to join an IB programme.

We have compiled a guide on how to become an Introducing Broker.

The role of an Introducing Broker

Introducing Brokers, in general, are there to make things easier for their clients. Because of this, they need to make sure that the broker’s products and services match their clients’ demands and trading styles before working with them.

Furthermore, customers should seek out brokers who offer a variety of financial instruments and that are able to explain in detail the trading platforms and software given by their broker. They’ll also recommend using a demo account if it’s available.

As participation in the Spot Forex market has expanded in recent years, so has the use of Introducing Brokers, which began in the Commodities Futures market.

Many traders already operate as unofficial IBs. The most popular practice among traders is to recommend a broker to their friends based on positive experiences they’ve had with the broker.

However, if you want to become an Introducing Broker, you can set up an official arrangement with one of your preferred brokers.

As the retail Forex market has grown in recent years, so too has a sector of the industry centred on Forex education, analysis, and signal services.

Market analysis and online instruction can be shared by proven traders; some traders also share their trades so that subscribers can monitor their activity.

Traditionally, these traders have supplied their services through their own websites, relying on social media and word of mouth to attract new customers.

However, the Introducing Broker business has generated a lot of opportunities for traders wishing to offer their services, since they can now work with respectable brokers to obtain clients as well as access to a wider marketplace with greater resources.

How Introducing Brokers make a income

People who are referred to their brokerage firm by an introducing broker earn commissions from that firm. However, it is vital to keep in mind that introducing brokers only get paid if the clients they refer become active clients of the company.

In an Introducing Broker deal, the IB will be paid a commission based on how much trading volume one of referred clients trades.

When an IB suggests an active client, they will open an account and begin trading immediately. After that, the active client will start making trades of a specified size, such 1 lot.

The IB will then be paid based on how much volume is traded by that client. Having a large volume generates greater commissions for the IB.

Essentially, the IB who has referred the active client will make commissions based on the amount of trades that client goes on to perform.

Ways in which Introducing Brokers can attract clients

Inexperienced Introducing Brokers may be able to refer clients they know directly. Clients are more likely to sign up with a broker if a friend or family member recommends them, and they are also more inclined to seek out information and guidance because of this.

Because traders can put their trust in the IB who introduced them, this approach has a better success rate, but the IB can only refer a certain amount of clients at a time.

With the help of the internet, Introducing Brokers may promote their services to a larger audience and so obtain more referrals, active clients, and eventually compensation for their services.

Introducing Brokers have found that social media has proven to be an important marketing tool for spreading the word about their business and recruiting new customers.

Creating an IB website

In the first place, IBs can use a website to serve as a landing page. They are able to supply content pertaining to trading, as well as hints, suggestions, and data on the subject. From the clients they attract, they may then develop a mailing list.

Social media marketing

Additionally, social media is an effective way to connect with potential customers.

Traders can also use WhatsApp, Telegram, and We Chat to attract new customers, in addition to the groups and sites they have created on social media platforms.

Some brokers also utilize social media to engage with customers, promote services and attract new clients. Email, Facebook, Twitter, and more contemporary social media platforms like Instagram and Snapchat are the most popular methods of communication.

Using existing trade forums

The numerous well-attended trading forums have long been a mainstay of the IB industry. A strong reputation can be built by interacting with other traders and displaying a thorough understanding of the markets.

IBs have always been able to acquire referrals by using websites like this because so many new traders learn from those who are already in the game through trading forums.

The importance of a business plan for Introducing Brokers

An Introducing Broker who is successful can earn a decent living. However, if you want to be a successful IB, you’ll need a business plan, just like in any other industry.

From the day you start working as an IB, you should lay out in detail the steps you’ll take to reach your goals, such as earning a specific amount of commission each month, working with a certain number of active clients and so on.

Developing an attractive, professional-looking website and establishing a wide range of social media profiles is essential to gaining access to a wide range of viewers.

Links to the designated brokerage firm should appear prominently on all public websites and social media profiles. The type of information will be appealing to potential customers is an important consideration when it comes to attracting new customers.

The frequency with which you post material and interact with potential customers should also be taken into consideration. You must be able to properly handle and keep up-to-date all social media channels.

Once you’ve figured out your various communication channels, the material you’ll offer, and how you’ll pique the interest of potential customers, you need to figure out how to turn those potential customers into paying customers.

In order to convert potential customers into active ones, it is necessary to invest time in developing effective methods such as providing high-quality material, increasing interaction, and raising the bar on customer service.

Create user profiles to identify the different types of traders you’re hoping to recruit. You can use these profiles to identify the types of traders you wish to attract, for example, based on trading strategy type and experience levels.

Once you know what type of trader you want to attract, you can modify your content accordingly.

How to become an Introducing Broker: step-by-step guide

1.     Research the certification which you may require

For Introducing Brokers, certification is necessary in several countries such as South Africa, Australia and the United States. When it comes to determining if a country requires certification, the International Business Machines (IB) is responsible.

2.     Partner with a reputable broker

One of the most important things you can do for your IB business is to work with a licensed brokerage firm. Customers are wary about frauds and want to make sure their transactions are secure and confidential.

Partnering with a respected broker under the watchful eye of a regulatory agency is critical to ensuring your clients’ satisfaction and protecting your reputation and most importantly, ensuring your long-term success.

3.     Attain a deal with the broker of your choice

Once you’ve found a possible partner in a brokerage, have a look at what they have to offer. Find out if the commission per deal is within your budgetary constraints by examining the commission rate.

Also, consider whether or not the price suits your business model and the types of customers you want to attract.

4.     Start signing up clients

The next step is to set up a website and social media pages for the brokerage you’re advertising and to introduce new potential clients to that broker.

Offer your clients sufficient guidance and demos of the trading platforms to get them started. This is the gratifying chore of converting them into long-term customers.

It’s essential to stay up to date on the current market conditions. Every day, make sure to check on all the relevant financial headlines and keep an eye on where equities, commodities, currencies, and other financial instruments are headed.

Customers will respect and trust your judgment and advice if they believe that you are well-informed. As an introducing broker, you and the brokerage you’re advertising will both gain from this in the long run.

Other useful resources:

FSCA Regulated Forex Brokers in South Africa

Nasdaq 100 Forex Brokers

Forex Brokers with ZAR Accounts

Forex Brokers with Demo Accounts

Tips to develop self-discipline in Forex trading

Tips to develop self discipline in Forex trading

Tips to develop self-discipline in Forex trading

Forex trading is as much a mental game as it is an analytical approach. As such, many rookie traders make critical mistakes due to an undisciplined trading approach that allows emotion to overtake their decision-making.

The forex markets are highly volatile and quick-moving, bringing sudden opportunities for profit that can suddenly turn against you. If traders succumb to the excitement of that moment without considering it from a disciplined, analytical perspective, they could make fundamental and costly mistakes. Experienced traders rely on a few strategies in order to hone their self-discipline and enjoy ongoing success in the Forex markets.

In this article, we take a closer look at some of the best tips to develop self-discipline in forex trading.

1. Understand your trading psychology

Any and all of a trader’s thoughts, feelings, and emotions can be considered part of their trading psychology. Fear, greed, nervousness, and worry are all negative emotions that should be avoided at all costs.

Trading psychology has more detrimental than good consequences for many traders, as many have discovered. Fear of losing money might cause traders to close out losing deals early, or they can simply double down on lost positions when the fear of losing money results in unnecessary greed.

For example, trading on the back of a parabolic rise can lead to significant emotional tension when the market reverses and swings in the opposite direction, which is when the move reaches its pinnacle.

Market volatility requires traders who are able to benefit from both the positive and negative sides of their psychology, as well as to regulate their emotions, in order to become better traders.

2. Focus on your goals

In order to become a more disciplined trader, one must first establish a specific aim for one’s trading. If you keep focused on your long-term objectives, you may be able to keep going even when you’re feeling discouraged.

That said, don’t set goals for yourself that are almost impossible to achieve. While Realistic expectations can sometimes be disappointed, unrealistic goals, like making $1 billion in your first year of trading, might be far worse.

As such, there are two parameters you should keep in mind when defining your trading gals: it must be clear and it must be attainable.

3. Learn to manage your emotions

Whether you’re a successful trader or not depends on your ability to keep your emotions in check. Consistent trading requires a cool mind-set and a clear head.

If you’re a professional trader, you don’t want to risk ruining your entire career by making a hasty judgment that could cost you money. Learning how to reduce trading based on emotion can require a lot of experience and many trades.

For example, greed can set in if you only want to invest in deals that you believe have a high likelihood of success. If you aren’t careful, you could find yourself in a drawdown because of your greed, even if you’ve done well.

Another important element is to ensure that you are adhering to your stop-loss, target, risk/management, and solid trade set-ups at all times. Overconfidence can lead to sloppy trading, which can put an end to a good run.

A common source of anxiety is over-trading. Your blunders are magnified since you’re under the stress of incurring more losses than typical while trading with the wrong amount of capital.

An additional factor that can cause debilitating anxiety is taking on a trade that doesn’t fit your trading strategy.

4. Use a trading journal and a trading strategy in conjunction

Planning for possible outcomes in the lead-up to major news events may also be a good technique to consider in terms of underlying variables.

When it comes to rookie traders, the difference between using a trading plan and not can be significant.

You can start by writing down a trading plan, but it won’t completely eliminate the impact of your emotions on your trades.

There may also be advantages to keeping a forex trading journal, which will allow you to monitor your performance and check on past mistakes, allowing you to change bad behaviours and become more self-aware in your overall trading.

Your notebook is a great location to keep track of your goals, daily plans, transaction details, market observations, and more. There are no limits to what you can write.

Why is it so crucial to keep a journal? When we have a limited memory, we don’t remember all of the useful ideas or observations that we have in our heads. Writing things down will help us remember most of what we learned.

You can learn a lot from your trading journal later on. It’s a terrific way to get a better sense of how you’ve done in the past.

As a result, keeping a trade notebook can keep you inspired and focused on your end aim. If you haven’t already, start using one immediately.

5. Establish a trading bias that aligns with your strategy

Bias is a must for traders if they are to make trades in line with their individual trading strategy. The ultimate goal is to make sound financial decisions. When it comes to trading, there are so many decisions to be taken that it can be overwhelming and can lead to errors in judgment.

A novice trader is often caught between the chance of profit and the possibility of loss. They lack the expertise to elicit a strong emotional response to the current trading conditions.

Their indecisiveness is a result of their lack of self-confidence and capacity to ‘manage’ a favourable outcome. As a result, they’ve allowed other factors, like their recent demo results, to anchor that sentiment for them.

The perceptions of new traders are often formed entirely on the basis of results. Some of those trades may have been lucrative, but they are likely to be more risky in the long run.

However, a trading bias defines an investor’s tendency to favour one possible outcome above all other possible outcomes in the financial market.

These trading biases are determined by technical and/or fundamental elements that promote a specific outlook that explains market behaviour. This often has to do with market patterns being either bullish or bearish, which signifies the suitable trading technique and approach.

6. Create a trading schedule

If you are regularly employed, you’ll be required to adhere to rigid work hours and schedules. You can trade whenever you want in Forex because you are your own boss.

However, this might also result in carelessness. Humans are notoriously bad at keeping to their plans when no one is watching, cooperating, or helping them. Without conscious effort, a home-based environment is not the best place to manage one’s time.

To get anything done in an orderly fashion, you must first set and adhere to a schedule. As a result, you should set a daily trading schedule and stick to it as closely as possible. If you want to cultivate a strong trading discipline, you need to keep this in mind.

7. Cultivate a patient approach

Trading is a time-consuming endeavour that demands perseverance. It is quite difficult to survive if you lack patience.

To begin, you’ll need the endurance to wait for a high-quality trade setup to materialize. Inexperienced traders sometimes wind themselves chasing the market. Trading possibilities do not always abound in the market. A good set up normally takes time to manifest, so patiently await it.

To begin with, you must be extremely patient and wait for a long period before you get decent profits in trading. In the beginning, many new traders are inclined to give up – but there is no shortcut to success in the Forex market.

You shouldn’t be concerned about getting things done quickly in trading because there are no deadlines. In the event that you fail to achieve your deadlines, no one will consider terminating your employment. As a result, you have enough of time to be successful.

Final Thoughts

Your trading discipline and attention improve as a result of cultivating patience. So, if you want to improve your trading discipline, patience is essential.

Numerous Forex experts and teachers tout discipline as one of the fundamental precepts to a successful Forex trading career.

A disciplined approach fosters several important characteristics needed to trade the markets well, including patience, an analytical mind-set, a realistic goal, and a sound trading strategy.

As you continue on your trading journey, learn to integrate the tips mentioned in this article into your daily trading behaviours, and you will begin to see the results in no time.

As we’ve mentioned here already, Forex trading is a long-term endeavour that is most successful for traders who learn to make steady gains over time, rather than risking everything in the heady atmosphere of volatility and missed opportunities.

When you learn to treat Forex trading as a learned technique that relies on experience and dedication, you will begin to apply the type of trading approaches that benefit you in the long-run, and result in a long and flourishing trading career.

Other useful resources:

FSCA Regulated Forex Brokers in South Africa

Nasdaq 100 Forex Brokers

Forex Brokers with ZAR Accounts

Forex Brokers with Demo Accounts

What do I need to start online trading?

What do i need to start online trading

What do I need to start online trading?

Online trading is an exciting and potentially lucrative approach which can be used to supplement your current income or be turned into a full-time trading career.

For beginner traders, it is important to enter the world of online trading in a measured way that will allow you to mitigate your risk and make the most out of the markets.

In this article, we examine the most important steps beginner traders should take in order to start online trading successfully.

1. Enter with enough capital – but don’t risk too much

Because they can trade on margin, forex traders don’t need a lot of money to get started. To open an account with a Forex broker and begin trading, you’ll need at least R500. If you want to open a small account, you should have at least R5000 in your bank account, and ideally R10 000.

This may seem like a lot for a new trader, but it will provide you some breathing room in case of a loss. To avoid being driven out of a deal, which might happen with lesser balances, you don’t want to risk the full amount but instead want to have a bigger cushion.

2. Take time to study the Forex markets

A key component of currency trading is learning about how the forex market works, which differs greatly from exchange-based systems like stocks or futures.

Instead of using a centralized exchange, banks all over the world use a network to purchase and sell foreign currency. This is referred to as an OTC market, or over-the-counter market.

Forex brokers function as market makers, setting both the asking and the asking prices for a certain currency pair.

Forex trading can be done in a variety of methods, but they all work in the same way: by simultaneously buying and selling currencies. With the development of internet trading, you may take advantage of currency price movements by trading CFDs.

Because they are leveraged products, contracts for difference (CFDs) allow traders to open positions for a small proportion of the trade’s total value. For leveraged products, you don’t own the asset, but rather place a bet on whether or not the market will rise or decline in value.

Even if leveraged products increase your profits, they can also increase your losses in a down market.

3. Find a reputable Forex broker

No matter where you live, you should be able to open a forex trading account with an online broker. It’s all about finding one that matches your needs as a trader and accepts you as one of their customers.

The broker you select should, at the very least, keep your funds separate from its own and be governed by a respected regulator in a well-regulated nation.

Your ability to concentrate on the trading process may suffer if you have doubts about the reputation or financial stability of your Forex broker. With a broker you can rely on, you will be able to focus more on your analysis and strategy development.

Choosing a broker without doing your homework first can lead to serious impediments, such as fees that eat away at your profits or losing money because the broker is not regulated. As a trader, this will harm your ability to progress.

4. First open a demo account

Using a demo account, you may practice trading in the forex market without risking any of your own money. Trades can be made in real time and reflect the losses and gains that would occur if the money were actually there.

When it comes to trading, you’ll need to get some experience under your belt first. Demo accounts allow you to trade without the fear of losing money.

In addition to practicing, you may want to see a forex trainer or read forex books for suggestions and ideas.

When you first start out as a trader, it might be beneficial to have some professional guidance and advice to help you along the way. In the beginning, forex trading can be a bit intimidating, and a little help can go a long way.

You should be able to profitably trade on a demo account or with paper trading before you put your money on the line during live market conditions. At the very least, you should have a track record of at least three months, and ideally six months.

After a few successful transactions, it will be difficult to stop trading, but experience really matters in forex trading. It’s impossible to go around it. In the old-fashioned manner, you must work hard to achieve your goals.

When you’ve been trading forex for a while and have been consistently profitable while doing so, it’s time to move on to live transactions.

It’s possible that trading with real money is more challenging, but if you follow the same strategies you used to be successful on the trial account, you should have no problems.

5. Create a trading strategy

As a novice trader, developing a trading strategy is essential. You may remove emotion from your trading decisions by following a trading plan, which also gives you guidance on when to enter and close positions.

In addition, you may want to consider adopting a forex trading strategy which dictates how you identify opportunities in the market.

You can also use the guidance of your strategy to decide on your first transaction by using your preferred technical analysis tools on the markets you choose to trade.

Even if you’re only interested in technical trading, you should keep an eye on any changes that could trigger volatility.

It’s possible that upcoming economic developments will have a ripple effect on the forex markets, even if your technical analysis doesn’t take that into account. This is where a trading strategy that integrates a sufficient amount of fundamental analysis also becomes useful.

6. Open a trading account with your preferred broker

A trading account can be opened once you’ve chosen a broker. Deposits can be made via bank wire transfer, debit card, or electronic payment providers such as Skrill and PayPal at most online forex brokers.

7. Decide on a Forex trading platform that works for you

A forex trading platform provided by your broker can be downloaded or accessed online. MetaTrader4 and MT5 (MT4/5) from and NinjaTrader are the most popular 3rd-party platforms supported by most forex brokers.

Other useful resources:

FSCA Regulated Forex Brokers in South Africa

Nasdaq 100 Forex Brokers

Forex Brokers with ZAR Accounts

Forex Brokers with Demo Accounts

Equity/shares vs. CFD/forex trading

Equity shares vs CFD forex trading

Equity/shares vs. CFD/forex trading

When first venturing into the world of online trading and investments, it is useful to establish your investment profile from the outset.

In doing this, you will better be able to establish a portfolio that suits your trading strategy and your investment goals.

Equity or shares trading is a very popular asset category amongst traders and investors, while trading Forex using CFDs is one of the more useful approaches amongst Forex traders.

In this article, we unpack the essential differences between equity or shares and CFD trading, allowing you to make the best decision for your trading career going forward.

What is equity or shares trading?

For traders throughout the world, trading stocks and shares has long been one of the most enticing investing options since it offers a diverse selection of sectors, industries and countries to select from.

It’s common for companies to issue shares in order to raise funds at the beginning of their operations, or to prepare for future expansion.

By purchasing shares of a company, an investor acquires a stake in that business, giving them voting rights and the right to a share of the company’s income, which is known as a dividend.

Because the owner of shares has a stake in the company in which they invest, stock trading is also known as equity trading. The stock market offers a wide range of trading options in a wide range of industries.

The ins and outs of shares trading

Long-term success in trading shares requires a thorough understanding of the elements that influence price movements, as well as a wide understanding of the broader market’s performance.

You should conduct a lot of research about the company you’re contemplating if you’re just starting out.

In-depth information on many companies can be found on their websites, such as financial performance statements and investment plans. There is also information about dividend payments and mergers.

Once you have selected the best shares for your portfolio, there are a number of important tactics that can be employed on order to trade shares successfully.

1.     Treat market research as an ongoing factor

Online stock trading can be done with a short-term focus or a long-term approach. It doesn’t matter how long you plan to stay in the market; you should always be keeping an eye out for new events and data releases that could affect your current position.

Advanced indicators and drawing tools can assist you pick the best time to exit the market by defining resistance and support levels.

2.     Employ an effective risk management approach

Any effective trading technique, including stock trading, relies on prudent risk management. It’s possible to select a level of risk that you’re comfortable with using stop losses and limit orders. There must always be enough room to meet the cost of the position, so be sure to pick a size that corresponds to your budget.

3.     Enter the market at the right time

Before you establish a position, you’ll have done a lot of research and analysis, which will give you crucial information about the best time to begin trading.

In addition to knowing the share’s long-term price direction and an indication of potential future price changes, you’ll gain a thorough understanding of current market patterns and emotion, which help you to best decide when to buy and when to sell.

4.     Make sure you’ve chosen the right shares

When you first start trading stocks, you’ll have a vast variety of options to pick from. There are a wide range of markets to choose from, including those in the United Kingdom, the United States, Europe, and Asia.

It’s important to choose a Share that is one that has been studied extensively, or a company that you follow and are familiar with.

What is CFD Forex trading?

In order to get a better understanding of CFD Forex trading, it is important to understand how these two investment approaches work, and how they can be used in tandem.

Understanding Forex trading

Foreign exchange, sometimes known as forex, can be described as a network of buyers and sellers who exchange currencies at a predetermined rate. To put it another way, if you’ve ever been outside of your own country, chances are you’ve engaged in a forex transaction.

Despite the fact that many currency exchanges are carried out for purely practical reasons, the great majority of them are carried out with the express objective of making money for the trader.

Price fluctuations in some currencies can become exceedingly volatile due to the large volume of currency exchanged each day.

Forex trading does not take place on an exchange, but rather between two parties in an over-the-counter (OTC) market, unlike the trade of stocks or commodities.

There are four major currency trading centers: London, New York, Sydney, and Tokyo, each located in a separate time zone. Due to the lack of a central exchange, you can trade FX around the clock.

Because of the wide variety of currencies traded on the forex market, it can be difficult make accurate predictions about the direction of exchange rates. Therefore it is crucial to get a grasp of the elements that cause price movements.

Understanding Contracts for Difference (CFDs)

When trading with CFDs, an investor and a CFD broker agree to exchange the difference in the value of a financial instrument (securities or derivatives) between the opening and closing dates of the contract.

CFDs do not involve the transfer of tangible assets or securities. A CFD investor does not actually own the underlying asset, but rather receives a profit based on the asset’s price movement.

Using this method, it’s possible for a trader to speculate on whether gold’s price will go up or down instead of actually buying or selling any gold, for example.

This means that CFDs are used for making wagers on whether or not prices for underlying assets or securities will go up or down. Traders can place their bets on a price movement going either up or down.

After purchasing a CFD, the trader will want to sell their investment if they see an increase in the asset’s value.

How to trade Forex using CFDs

Forex trading is based on the exchange of one currency for another currency. For example, if you were to buy GBP/USD, you would profit if the pound rose versus the US dollar or lose money if the exchange rate fell.

CFD trading allows you to speculate on the movement of the underlying instrument by placing leveraged transactions on currency pairings. Cash-settled CFDs are based on the difference in opening and closing currency prices, rather than a fixed amount of base currency.

You may increase your transaction size while investing only a modest amount of capital while trading CFDs, which is a significant component of the strategy.

However, it’s important to remember that maintaining a high level of exposure can lead to more earnings, but can lead to greater losses as well.

When starting out with trading Forex as CFDs, there are a few useful steps which you should take in order to set up a sound investment approach.

1.     Select the currency pairs you would like to trade

This is an important first step, and traders can select from major, minor or exotic currency pair options. Whichever you choose will depend on the level of risk you are willing to undertake and the prevailing market conditions.

It is also useful to visit a broker’s contract specifications page to see the currency pairs on offer, as well as the available leverage and the contract costs.

2.     Decide on your position

If you believe the price of your selected currency pairs will go up, you can open a long position (buy) or a short one (sell).

You can use a wide variety of indicators, charts, and signals to determine what kind of trade to open. The next step is to decide how big of a position you’d like to create.

Because the value of a CFD unit fluctuates based on the underlying value, you should figure out how many CFD units you need to execute your trading strategy effectively.

3.     Ensure you’ve selected an effective trading platform

There is a broad selection of trading platforms available on the Forex market today, but whichever one you choose should be determined by your experience level, your trading strategy and your desired goals.

To this end, trading Forex CFDs has become very popular on the MT4 and MT5 platforms from MetaQuotes, which are some of the most popular software options in the industry.

Over 50 technical indicators and charting tools are available on these platforms, making it easy to trade CFDs. It is possible to trade while on the go using mobile apps that allow you to see your earnings and losses as they happen right away.

Final Thoughts

Both shares trading and Forex CFD trading present numerous advantages to traders and investors. However, whichever approach you choose will depend on you unique trading style and portfolio goals.

That is why it is crucial to conduct thorough market research before investing in either asset class to ensure you sufficient knowledge to manage your portfolio and risk effectively.

Other useful resources:

FSCA Regulated Forex Brokers in South Africa

Nasdaq 100 Forex Brokers

Forex Brokers with ZAR Accounts

Forex Brokers with Demo Accounts

10 Best Forex brokers in Zimbabwe

10 best forex brokers zimbabwe

10 Best Forex brokers in Zimbabwe

Forex trading in Zimbabwe presents numerous opportunities to profit off of the vast and lucrative Forex market, however, the most important first step in a successful Forex career is signing up with a reputable broker.

A Forex broker which is regulated, offers competitive pricing, and gives a comprehensive range of trading features will give you the edge in your Forex trading efforts.

In this article we have selected the 10 best Forex brokers in Zimbabwe which stand out for their excellent offering and their sound regulation.

Khwezi Trade

khwezi tradeOverview

Disclaimer: Khwezi Trade does not currently offer trading services in Zimbabwe, but looking to do so in the near future. Khwezi can however facilitate Zimbabweans who have a South African bank account.

Khwezi Trade is a popular South African Forex broker that is regulated by the Financial Sector Conduct Authority (FSCA) (FSP: 44816).

Khwezi Trade offers a comprehensive range of trading instruments, including 39 currency pairs, 11 indices, and seven commodities.

Trading at is facilitated on the MetaTrader 4 platform, which is the gold standard for trading software in the Forex markets today, while the broker also offers several other useful trading tools, including the Flexi Analysis and Dynamic Outcomes features.

Pros and Cons

✔ Pros ❌ Cons
Trusted forex broker with regulation through the Financial Sector Conduct AuthorityNo crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensingThere are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South AfricaUS clients are not accepted
Traders are provided access to powerful trading technology
Competitive spreads are offered
There is a decent maximum leverage ratio offered


👉 Featureℹ️ Information
👮‍♂️ Regulation👍 FSCA
💵 Minimum deposit from💰 ZAR500
⚖️ Average spread from👉 0,6 pips
📈 Commissions fromN/A
💸 Deposit/Withdrawal FeesN/A
⚖️ Maximum Leverage⚖️. 1:400
🤑 Bonuses👍 30%
❓ Customer Support🏪. 24/5



XTB is a Forex, CFD, and cryptocurrency broker that was established in 2002. With its headquarters located in Poland, XTB is a global brokerage firm.

XTB has been a Forex broker for 18 years and has earned various industry awards. Traders can choose from 1,500 products and more than 50 currency pairings at XTB. Aside from the Xstation5, XTB offers the renowned MT4 forex trading platform to its clients.

Pros and Cons

✔ Pros ❌ Cons
Low trading feesHigh stock CFDs
Free deposit and withdrawalLimited asset portfolio


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 KNF, FCA, CySEC and IFSC
💵. Minimum deposit from💰 $250 / 4000 ZAR
⚖️ Average spread from👉 1.02 pips
📈 Commissions from📈 0.08% of trade value with $8 / 128 ZAR minimum
💸 Deposit/Withdrawal Fees🙅 $30 / 480 ZAR on withdrawals of less than $50 / 800 ZAR
⚖️ Maximum Leverage⚖️ 1:500
🤑 Bonuses💰 $40 / 640 ZAR No Deposit Bonus
❓ Customer Support🏪 24/5



Online broker Pepperstone was created in 2010 and provides Forex, CFDs, and Social Trading services to clients worldwide. Reputable organizations with a head office in Australia control and manage Pepperstone.

To get started trading with Pepperstone, traders must make a deposit of at least $200 in order to register an account, although they can do so with a demo account first.

It is possible for Pepperstone to accommodate traders of all levels, whether they are seasoned or just beginning. Over a hundred instruments and more than seventy currency pairs are available to traders.

Pros and Cons

✔ Pros ❌ Cons
Negative balance protection offeredFixed spreads are not offered
Range of funding options provided
Social trading supported on powerful and versatile trading platforms
Welcomes all types of traders
Welcomes all types of trading strategies
Offers a wide range of markets


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 FCA, ASIC, DFSA, CySEC, CMA, SCB, BaFin
💵. Minimum deposit from💰 $0 / 0 ZAR
⚖️ Average spread from👉 0 pips
📈 Commissions from📈 No commission on Forex
💸 Deposit/Withdrawal Fees🙅. No
⚖️ Maximum Leverage⚖️ 1:500
🤑 Bonuses💰 No
❓ Customer Support🏪 24/5

FP Markets


Since its inception in 2005, Forex trading has been offered by FP Markets, which has its headquarters in Australia.

FP Markets offers a demo account with a wide range of instruments and currency pairs for traders who are just getting started. A $100 deposit is required.

There are more than 100 instruments and more than 60 currency pairings available on the MT4 forex trading platform. Additionally, FP Markets provides Android and iOS mobile apps for traders.

Pros and Cons

✔ Pros ❌ Cons
Low forex feesHigh stock CFD Fees
Streamlined and fast account opening processLimited product portfolio
Fast processing for deposits and withdrawals


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 Australian ASIC, Cypriot CySEC, SCB
💵. Minimum deposit from💰 $100 / 1600 ZAR
⚖️ Average spread from👉 0.5 pips
📈 Commissions from📈 $55 monthly commission for IRESS Trader users only
💸 Deposit/Withdrawal Fees🙅 None
⚖️ Maximum Leverage⚖️ 1:500
🤑 Bonuses💰 $30 / 480 ZAR welcome bonus
❓ Customer Support🏪 24/7



Founded in 2009, XM is an online broker that specializes in both forex and contracts for difference (CFD) trading. There is a minimum deposit of USD5 required to open a trading account with XM, which is based in Cyprus.

Whether you’re a seasoned trader or just getting started, XM accommodates a wide range of trading styles and levels of experience.

Over 100 instruments and more than 80 currency pairings are available for trading by investors. With XM, you have access to MT4 and MT5, as well as mobile apps for iOS and Android.

Pros and Cons

✔️ Pros❌ Cons
Low minimum depositInactivity fee charged after 90 days on live accounts
Comprehensive educational offeringLimited product portfolio
Streamlined account opening process


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 IFSC, ASIC, CySEC, FCA and DFSA
💵 Minimum deposit from💰 $5
⚖️ Average spread from👉 0.1 pips
📈 Commissions from📈 $3.5 commission per $100 000 traded
💸. Deposit/Withdrawal Fees🙅 None
⚖️ Maximum Leverage⚖️ 1:30
🤑 Bonuses💰 $30 Trading Bonus
❓ Customer Support🏪 24/5



AvaTrade is a global broker headquartered in Dublin that offers Forex, CFDs, spread betting, and social trading. AvaTrade was established in 2006 and has offices throughout the world.

AvaTrade requires a minimum deposit of US Dollar 250 to open an account, and a trial account is accessible for individuals who wish to get a feel for the popular MT4 forex trading platform before making a deposit. Mobile apps for Android and iOS are also available from AvaTrade.

With AvaTrade, beginners and experienced traders alike may trade a wide range of assets and currency pairs.

Pros and Cons

Broad range of tradable instrumentsHigh EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources


👉 Featureℹ️ Information
👮‍♂️ Regulation👍 Central Bank of Ireland, MiFID, ASiC, BVI
💵 Minimum deposit from💰 $100
⚖️ Average spread from👉 0.9 pips
📈Commissions fromNo commission on Forex
💸Deposit/Withdrawal FeesNone
⚖️ Maximum Leverage1:400
🤑 BonusesFirst Deposit Bonus
❓ Customer Support🏪 24/5 – multilingual


When you first sign up with in 1999, you’ll need to put down a deposit of at least $500 to get started trading in currency pairs including the US dollar, the euro, and several commodities like gold and silver.

Depending on the asset and the trader, has a wide range of trading features, and all accounts are available in a wide range of languages, such as English, Mandarin Chinese, and Arabic.

Pros and Cons

✔ Pros ❌ Cons
One of the best international brokers with multi-regulationsInactivity fees are charged
Offers a choice in complex instruments along with various trade sizes and instant execution
Commission-free retail accounts are offered along with instant deposits and withdrawals
Powerful trading tools are offered to experienced traders
TradingView provided in addition to other advanced trading tools
An execution scorecard is provided, ensuring a guaranteed execution policy


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MAS
💵. Minimum deposit from💰 $100 / 1 600 ZAR
⚖️ Average spread from👉 1.5 pips
📈 Commissions from📈 $5 / 80 ZAR commission per 100K traded
💸 Deposit/Withdrawal Fees🙅. Not indicated
⚖️ Maximum Leverage⚖️ 1:50
🤑 Bonuses💰 Yes
❓ Customer Support🏪 24/5



Since its inception in 2006, FxPro has offered a wide range of trading options for investors throughout the world.

With FxPro, traders get access to top-tier liquidity and advanced trade execution without the need for a dealing desk, and a $100 deposit is required to open an account.

MetaTrader 4 and MetaTrader 5 platforms, as well as cTrader and mobile apps for Android and iOS, are all available through FxPro, making it a rare broker in the industry.

Pros and Cons

✔️ Pros❌ Cons
Mobile trading platform offered for Android and iOS mobile tradersManaged accounts are not available
VPS is provided through Beeksfx to ensure that active traders remain connected to financial marketsSocial trading opportunities are not provided ye
FxPro applies an NDD execution policy and model to ensure accurate and competitive pricing
Expert analysis is provided by Trading Central and there is an economic calendar that traders can use to keep an eye on economic events
Premium trader tools and a range of educational materials offered


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 FSCA, CySEC
💵 Minimum deposit from💰 $100 / ZAR R1600
⚖️ Average spread from👉 0.37 pips
📈 Commissions from📈 $45 / ZAR R720 per million USD traded
💸. Deposit/Withdrawal Fees🙅 None
⚖️ Maximum Leverage⚖️ 1:30
🤑 Bonuses💰 N/A
❓ Customer Support🏪 24/7



Founded in 2011, OctaFX is a global online broker that provides Forex trading with a minimum deposit of USD5.

There is also a demo account available for people who want to familiarize themselves with the OctaFX platform. This includes both the MT4 and MT5 platforms, as well as the cTrader platform. Mobile apps for Android and iOS are also available from OctaFX.

Since its inception, OctaFX has earned multiple industry awards for its ability to accommodate a wide range of traders. CFD instruments at OctaFX are free of commission.

Pros and Cons

✔ Pros ❌ Cons
More than 30 forex pairs availableNo Forex educational tools
Well-regulatedNo VPS available
Ultra-fast execution


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 CySEC
💵. Minimum deposit from💰 $100 / 1600 ZAR
⚖️ Average spread from👉 0.7 pips
📈 Commissions from📈 None
💸 Deposit/Withdrawal Fees🙅 None
⚖️ Maximum Leverage⚖️ 1:500
🤑 Bonuses💰 50% Deposit bonus
❓ Customer Support🏪 24/5

Marketscom-LogoOverview was created in 2008 and specializes in Forex, CFDs, and Spread Betting. Only clients in the United Kingdom can only place spread bets with, which is based in Cyprus. provides both the MT4 and MT5 platforms, as well as Android and iOS mobile apps.

Pros and Cons

✔️ Pros❌ Cons is a broker with a high trust score that offers ZAR as the base currency and deposit currencyA high minimum deposit is required when traders register a live account with
User-friendly trading technology supported with a proprietary mobile appAn inactivity fee is charged on dormant accounts
A tight average spread is offered on forex major pairs
Commission-free trading is provided
There are no deposit fees or withdrawal fees charged
Caters for all trading styles and trading strategies


👉 Featureℹ️ Information
👮‍♂️ Regulation👉 FSCA
💵 Minimum deposit from💰 $100 / ZAR R1 600
⚖️ Average spread from👉 1.9 pips
📈 Commissions from📈 $0 / ZAR R0
💸 Deposit/Withdrawal Fees🙅 None
⚖️ Maximum Leverage⚖️ 1:300
🤑 Bonuses💰 Yes
❓ Customer Support🏪 24/7

Further reading:

7 Best Forex Brokers in South Africa with Sign-Up Bonus

10 Best Forex Brokers for Beginners

10 Best Forex Brokers in Namibia

10 Best Forex Brokers in SA with ZAR Deposits

11 Best Forex Brokers in South Africa with Demo Accounts

11 Best Forex Brokers in South Africa with Low Spreads

11 Best Forex Brokers in South Africa with MetaTrader 4