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A top 3 list of successful Forex traders in South Africa

The Forex industry is incredibly easy to get into, but what is the most exciting is the fact that if you keep working in it, working on developing your skills, you will eventually become successful. There are many opportunities that the Forex industry provides for all kinds of people. Students who find themselves to be much better at trading than they thought they would be sometimes drop out and devote their full time to working on the markets. People who have been professionals for most of their life and find themselves successful in the markets at 50 quits and keep trading like there is nothing else. And in the case of those who start working in Forex trading South Africa industry, some of them find themselves to be extremely successful.

The thing with Forex is that anyone can end up being successful in it, as long as they work hard enough and learn enough. Such is the case of the people who we are going to be discussing now. These people come from South Africa and became some of the most successful traders in the country simply by allowing themselves to enjoy the opportunities that the industry provides. Some of them started trading on loans from their friends, others took no deposit bonuses not much different from the XM $30 no deposit bonus, while others simply took the money they had and invested in the industry. Exploring their cases and understanding where the most successful Forex traders in South Africa come from, might provide us with a hint or two on how to ourselves become one of them.

Sandile Shezi

Sandile Shezi was a very lucky man long before he had anything to do with becoming part of the list of successful Forex traders in South Africa. Originally from a poor district within South Africa, Sandile used to go to a local school, where he studied just like the other children did. He did not have anything special about him other than the drive to no longer be living in squalor. The school he went to required tuition to be paid regularly. One time Sandile, took the tuition that he had to pay for the entire year of study and invested it elsewhere. Specifically, he chose to try his luck on the Forex markets. What followed was a pure stroke of luck. Investing the money, he saw a return that enabled him to change his life and both pay off the tuition and continue trading on the Forex markets.

This is a very cinematic story, yes. It is as is fate had the turn of luck in store for him, and there was nothing but a life-changing event waiting for him. But while it is a magnificent story, it is important to remember that this was a stupid idea. There is no single situation where it is wise to take the last money you own, the money that you need in order to go to school and spend it on a market that you have no guarantee of gaining returns from. Even  Thankfully, Sandile got way lucky, and now the 26-year-old operates as a full-time Forex trader and is one of the richest Forex traders in South Africa who actually made money from Forex. He currently owns the Global Forex institute. There he teaches young people who want to become traders on how to trade on the markets, the concepts of Forex and other important details about the market that are useful in operating in the Forex industry. He is not alone in his mission to educate young South Africans though, and he has had a lot of help over the years.  Specifically, he has had some of the most from one of the most successful South African Forex millionaires and traders, George van der Riet.

George van der Riet

George is just like most other success stories that end up being told within the Forex and investment industries. He was an average man with the big dream of being rich one day. So George, after graduating from school in Capetown, decided it was time to move out of his native land and go on to the UK, see the world. There George grabbed another degree in Finance and ended up working

for several investment companies around the UK as a manager for Foreign Exchange markets. In his years of trading for companies with large capital access she quickly learned how to be a good trader and how to be a good entrepreneur. While he liked trading, he was tired of doing it for other people, so soon enough George quit and moved back to South Africa in order to become one of the best Forex traders in South Africa.

When he arrived, he was immediately seen as a good investment to have as part of your company. While he got some really good offers from companies, George decided that the best thing to do in order to become one of the top Forex traders in SA was to start his own company that would concentrate on investing in Forex. He did so in 2010, barely within a year of his return to his homeland. This is also when he found Sandile and realized that there was a great future for this stroke of luck millionnaire. They started working together and soon enough Sandile managed to become one of the top Forex trading SA millionaires and a good friend to George. Today they operate the Global Forex INstitute together.

Ref Wayne

While the Global Forex Institute is incredibly popular with the locals, it is not the only institution currently seeking to educate young South Africans in the Forex industry The African Forex Institute was founded by Ref Wayne, the main competitor to the title of one of the youngest Forex traders in South Africa. Ref became a millionaire when he started trading Forex at the age of 22 and has since decided to turn his skill with the markets into something that would be useful for the rest of Africa as well. He founded the institute and teaches about Forex, while also writing guides, books and releasing online courses for those who are interested in the industry.

His story is not as glamorous or as cinematic as the one Sandile tells, but it is one of success nevertheless. The story that is interesting comes after that man became regarded as one of the top 10 richest Forex traders in South Africa. He operates several ventures now, with one of his most recent and impressive ventures being the creator of one of the first African Cryptocurrencies called Pip coin. With this invention, he gives back to the community, while also doing good for himself. He says that unemployment within the country is one of the main reasons that drive him to be the entrepreneur that he is today, sharing the success he has with the rest of the country.

Forex trading in South Africa – a growing industry

The industry is quickly growing around the African continent, and it is something to be very excited about. hundreds and thousands of people are going on the internet to try their hand at Forex trading in South Africa. It promises a way for many to make money that they never thought they would be able to make, and it provides an opportunity to many to become something they never thought they would be able to be: one of the successful Forex Traders in South Africa who have managed to make millions on the markets.

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AxiTrader is helping partners do better

AxiTrader is one of the most reliable Forex brokers out there. These guys have spent the past decade forming strong relationships with their clients, building up relationships with partners and giving everyone plenty of room to grow.

And yet, despite the help they’ve been giving out, it seems the global trading community – or at least those in the partner/affiliate space – hasn’t really caught onto all the opportunities. So, they’ve decided to kick it up a notch with something they’re calling the AxiTrader Partnership Program.

Essentially it’s a two-tier bonus system where partners or affiliates who go above and beyond to help bring new clients into the fold will get extra payouts on top of the regular benefits.

Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

Become an AxiTrader affiliate now!

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AxiTrader offering lessons from Knightsbridge Trading Academy

Anyone who’s ever done any online trading will know that the most important tool they have in their arsenal is knowledge. The more you know, the better your trade decisions are likely to be and the better your chances of being able to bank a profit.


Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

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The AxiTrader Autochartist assitant

One of the most useful tools currently going around in trading circles is Autochartist. But it isn’t as well known as it perhaps should be, which is a shame since the tool itself has a good deal of reliability and efficiency in terms of what it offers traders.

 

Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

Get AxiTrader Autochartist it now!

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AxiTrader VPS, or how to get the best Commercial Network Services

Not many people realise how important it is for a broker to provide their users with a high-quality VPS. In fact, many people don’t even know what a VPS is. Fortunately AxiTrader have their clients well sorted it with a high quality offering of VPS options which they can access free with a few conditions, depending on which setup they’re looking to go for.

But first, let’s get back to the basic question…

 

Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

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Trade like a psychic with the AxiTrader PsyQuation

What do traders appreciate most in their dealings with a broker? It’s easy to think about things like good pricing, quick order execution and easy withdrawals, but one of the best things a broker can do is provide a range of cutting edge tools to improve a person’s chances of trading successfully. This is why we’re so excited about the AxiTrader PsyQuation offer that can be accessed if you become a trader with them.

 

Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

Start using PsyQuation today!

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Financial Regulations in South Africa

Financial regulations are one of the most important aspects of a good Forex broker. The regulator makes sure that the broker is not doing anything shady and also gives guarantees to traders that no matter what happens they will be able to compensate for their defrauded funds. This is why we pay so much attention to regulation in our reviews, in most cases a lack of regulation is so serious that a broker can immediately be branded as a scam, but in some cases, a strong and popular parent-corporation is enough to cover all of the questions.

Nearly every country has a Financial regulator installed by the state, but there are a few exceptions where they are lacking. Most notably, financial regulators are few and far between on the African continent, but some stand out very easily. is one of the best examples of a shining light among an under-developed financial sector. It is a perfect example for its neighboring countries and a beacon of regulatory frameworks. Let’s find out what makes the FSCA (Financial Services Conduct Authority) stand out from the crowd.

Defining features of the FSCA

the FSCA, formerly known as the FSB is the state governed Financial regulation of South Africa, which is directly responsible to regulate, govern and keep an eye on most financial companies. These companies include but are not limited to Forex brokers, Insurers, capital markets, financial service providers, collective investment schemes, retirement funds, credit agents and many more. Every company that is remotely dedicated to these industries will be susceptible to FSCA regulations.

However, we need to discuss what defines the FSCA as the top-dog within Financial regulators? is it because they’re strict? No, every regulator is strict. It’s because they provide more value to financial companies’ customers than any other regulator. Where most regulators focus on keeping an eye on the financial companies themselves, the FSCA is also concerned with the financial education of the customers and is offering them some free courses on their platform.

These types of innovations have not yet been seen on any other regulator, and it is understandable. The financial education of a customer is either the responsibility of the customer themselves, or the host company. But it never hurts to have some free knowledge, does it?

The FSCA is quite broad

One of South Africa’s defining traits is the way their financial institutions are able to co-operate. For example in most European and offshore states, the Financial Regulator and the National Bank seldom have a good relationship. But the FSCA and the SARB (South African Reserve Bank) are able to co-operate without too many controversies. Their recent cooperation was seen when discussing , which is becoming more and more of a topic of concern. Especially after the results of a recent survey showed that South Africa is the largest crypto holding nation in terms of population percentage.

However, the most defining traits of the FSCA is their ability to intervene in a dispute between a Forex broker and a customer, where quality investigations are held and the “winner” of the dispute is found. This is a great benefit for the customer because in some cases Forex brokers can simply ignore the dispute, but the regulator’s pressure they simply can’t afford to.

As already mentioned, the FSCA is responsible that only the most trustworthy companies are regulated under its jurisdiction, so as to prevent any fraudulent companies to scam the local populace. However, if there is a mistake and a regulated company does indeed turn out to be a scam, the regulator takes all of the responsibility to compensate for the loss.

How to use the FSCA

There are various ways you can utilize the services of the FSCA, but only 1 of them stands out the most for Forex traders. The ability to check the validity of a Forex broker in South Africa. Meaning that you can access the regulator’s databases and check whether or not the company is regulated by them. In some cases, the company may be listed, but not hold the license anymore, so it is always good to double-check with the regulator to make sure you’re not walking into a trap.

The FSCA has actually just gone through a massive change of operations. Exactly a year ago, on April 1st the regulator changed its name from FSB to FSCA and also re-worked its staff. Although not much has changed, here are the main points.

  1. The FSCA is responsible for giving investors financial education.
  2. Constant overview of the KPIs and the development of South Africa’s financial sector.
  3. Legal assistance for investors in case of company fraud, and fining any .
  4. Spreading information about potential changes with regulated companies.
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Russia to invest billions in Bitcoin

Diversifying one’s assets is a very accepted practice in the world of trading. All stock managers recommend doing so in order to keep your funds safe, especially when the market seems to be a rather bearish or the economy seems to be slumping a little bit. So it comes as no surprise that the Russian government has decided to diversify its assets by investing into Bitcoin.

Sanctions and loopholes

The Russian government has been facing sanctions for many years now. The western world has deemed some of its actions unsavoury and imposed a trading and financial sanctions upon the nation that have been weighing rather heavily on the economy. Even despite the occasional rise in the prices of oil, the country has been struggling to keep a healthy economy, with the slump continuing as Russia has trouble trading with the world in natural and financial resources alike. The result is that the Russian government has returned to a plan they had devised a little while ago: to start investing in cryptocurrencies. The initial plan, as it was first offered many months ago, was to create a national digital currency, nicknamed by those who were paying attention at the time as the “crypto Ruble”. The plan was denied at the time and this time again, with the Russian government opting instead to invest in already existing cryptocurrencies.

The investment itself might seem a little strange, judging by how bearish the market is, but it makes a lot of sense in terms of international trade and politics. Cryptocurrencies allow trade without bank intervention and with Russia having to face sanctions, banks have been getting in the way of their trading. By diversifying the country’s crypto portfolio and picking up some valuable digital assets, Russia might be able to get back on track in terms of world trade without having to deal with banks.

Effect on the market

The cryptocurrency industry has been booming lately, but the market remained bearish after the drastic price increase in 2017. Since then Bitcoin and Altcoins have fallen in value a whole lot. The good news is that the Russian government, while not making any specifications, is promising investments in the size of several billion dollars. Such a capital infusion from an institutional investment might be just what the market needs to be revitalized. The resulting value increase for Bitcoin might also be quite a boost to the Russian economy as the value of their investment increases as well.

Such a large scale investment is good news to other Russian interested parties as well. Gazprom bank, a subsidiary of the Gazprom corporation, has recently announced that it will be looking into offering digital asset services to its clients and might be investing in the coins themselves. Another large scale investment from an institution might be all that cryptocurrencies need to produce high rates of return for a company like Gazprom.

What is even more interesting is that such institutional interest might cause retail traders to come back to the crypto markets in hopes of getting a slice of the investment pie. What all of this actually means for the cryptocurrency industry and the crypto industry overall is yet to be seen.

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EverFX 100% Deposit Bonus Review

Being able to trade with a reliable Forex broker is a feat that some people underappreciate. The fact that, the same Forex broker can provide a significant deposit bonus is one of the luxuries not many traders are given.

Today we will be talking about the EverFX deposit bonus.

EverFX Review
  Minimum Deposit:
$250         Maximum Bonus: $10,000

   Bonus Period: N/A                  Eligibility: New and Existing

  Spreads: from 2 pips                Restricted Countries: No

Hungry for the bonus? Get 50%+20% from XM!

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