We have travelled throughout Africa and what we have noted is that most people, because of prevailing foreign currency shortages in their individual countries, believe Forex Trading is the buying and selling of physical currencies on the parallel market. This is incorrect, Currency Trading is a Global market averaging daily turnover of $5 Trillion dollars a day!
Let us walk you through some of the most frequently asked questions on Forex Trading.
The currency trading market is the largest market in the world by trading volume. It’s open all day from start of business Monday in Asia-Pacific through to the close of business in New York on Friday. As it’s not a regulated exchange (there’s no central governing body, clearing houses or arbitration panels), the market is also considered the most liquid, trading over 5 Trillion Dollars a Day.
In order to trade the currency markets you need to have a brokerage account with a reliable broker and preferably one that accepts deposits in your local currency. Just like you can’t buy shares without using a broker, you can’t access the over 50 currency pairs without using a broker.
At The Forex Trading School we work with Hunely Capital. We will assist you with opening your trading account and because of our relationship with the broker we always have Great Deals on offer for our students.
We have trained students who have taken to trading pretty quickly. Some students made profits immediately. However, this is not the norm. Making profits is actually not the issue. Most traders will make a profit on their very first trade. What matters is making profits consistently. This is where continued trader development can not be avoided at all. Traders need to invest in resources and mentorship if they want to take trading seriously as a profession.
We believe traders should aim to make 40% a month from their investment. Making more is absolutely possible. Our senior traders can register 200% per month returns but beginners should be disciplined to avoid over risking and blowing their accounts.
In fact we never encourage new traders to invest more than $200 USD when they start learning how to trade. Its best to keep the risk small as you navigate your way around the markets.
We have over 6 schools and training offices in SADC. If you would like to learn how to trade the currency markets you can book today and get started! Select any of the locations below to get started. Our website is interactive and allows you to register and pay online.
By registering and attending for our courses your understand that 1) trading is risky and 2) The Forex Trading School is not licensed to give trading advice or to trade on anyones behalf, we are just educators. Read the full disclaimer and terms.
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