WHY IS SOUTH AFRICA GOING CRAZY WITH FOREX TRADING?
If you hear this word “ Forex Trading” from the mouth of many people you should probably grasp that you are in the surroundings of South Africa. Most people are looking for ways to create their own fortune with Forex trading South Africa, this motivations comes after the inspiration erupted from many young South African who are posting their lavish and glamorous lifestyle in different social media like Instagram, Linkedin, Facebook and others. All this limelight self made stars mostly claim that they made their success out of Forex trading but this claim may be questionable sometimes since the Forex experts themselves are claiming that about 5% of people is the only number of participants who make it in the Forex Market and the rest of 90 % their money goes to the drain while the remaining 5% they are still holding on to open positions on their trading account.
The different between other countries and South Africa is that in South Africa this business of Forex trading or should we say a “get rich quick scheme” is not regulated at all, especially the online trading is prohibited by all means and is also discouraged by the government entities. The few known places that can regulate Forex trading are countries like Cyprus, United Kingdom and others while in South Africa people are only taking their chances by trading online with other overseas brokers like FXCM, FOREX.COM and Easy- Forex .
FEW PEOPLE WHO MOTIVATED SOUTH AFRICANS WITH THEIR FOREX TRADING SKILLS AND SUCCESS
Rev Wayne nkele born and bred in South Africa. He is only 22 years old but has made South Africa very proud. It is believed that he is trading currencies and also he has written some motivational articles and he is the mastermind behind the Forex Robot (Armageddon) . He is believed to be a multi-million Rand youngest star that has also came up with (PIP COIN) the digital currency. He is having a large number of followers on Facebook and Instagram. His website is http://iamrefwayne.com
Sandile Shezi a very humble young Forex trading South African Icon, at the age of 23 years he has accumulated wealth for himself. He is believed to be a multi-million Rand self-made. He is the owner of global Forex institute and his success comes after being motivated by George van der riet. These are South African heroes and they still continue to help other newbies traders to understand better the Forex market by providing them with other Forex trading winning strategies
Most of South African youth are beginning to trade and some of them have made it to the top while others they didn’t, but this statement is understood because not all business are successful, others succeed while others fail, so it is in the Forex Market, however some people have hid themselves under the name Forex trading while pushing their deceitful business of selling illegal drugs and other illegal substances, others are pushing their Ponzi schemes and money laundering business while others charge for training people the basic of Forex trading.
For those who do not know what exactly Forex Trading is, we will briefly explain it as the financial term used in the Foreign exchange market implying the exchange of currencies or the trading of different currencies for a profit. In the market, currencies are traded in pairs, it can be a USD against the South African Rand, people make profit when they have open a trade position anticipating whether their currency of their choice will appreciate or depreciate, if they have predicted correctly they then make profit out of that but if they have predicted incorrectly they then suffer a loss.
South Africa has now recognized the few opportunities and possibilities of being successful in the Forex market. Most of private colleges are now providing the basic Forex trading courses due to the huge demand that has been evolved. Since the currency trading is so volatile people have adopted to use Forex trading robots and other strategies in order to dominate the market, most people who have been in network marketing businesses has also started to jump in the market and they have contributed to an increase at the number of Forex market participants for the past 5 years.