What is FX Explained and why are you here?
- Are you from South Africa and interested in Forex Trading and just do not know where to start?
- Do you have questions about the legality of forex trading in South Africa?
- Are you currently trading and struggling, finding it difficult to achieve consistent profits?
- Do you not fully understand some of the language being used on other FX or Trading websites?
- Are you having difficulty choosing the best broker in South Africa?
FX Explained South Africa is here to help and guide you.
We have a passion for Financial Markets and for helping those trying to find their way in the complicated world of Currency Trading and Investing. Originally we successfully helped UK traders and now we aim to help all traders in South Africa as well. Today it is legal to trade forex in South Africa as long as you pay income tax on any profits. And, needless to say, you need to abide by all financial laws and not be involved in money laundering. Laws and regulations have been set in place by the Financial Sector Conduct Authority (FSCA) to ensure the safety of traders from South Africa. Brokers, regulated by FSCA, will have to treat traders fairly and they have to provide a legal process to their clients where clients easily can resolve issues that may arise with the broker. All profits that South African traders make need to be declared to the South African Revenue Service (SARS) in their yearly self-assessment tax return. And then income tax, between 18% and 45% has to be paid on the profits.
Whether you are a complete novice, or seasoned veteran, we believe that our high level of fx expertise and knowledge about South Africa, combined with a simple approach will help you to develop confidently in this sometimes difficult world of forex trading.
We aim to:
- Be a guide for you in how FX Trading works for traders in South Africa.
- Offer trading tools that you can use in your everyday trading.
- Provide a comprehensive knowledge base that you can draw on.
- Help you decide who you should trade with and pick the best Broker for you when trading from South Africa.
- Provide timely updates on important FX developments (via email).
We welcome all traders from South Africa to join the global FX Explained community and to help you become better traders! We don’t show you how to trade, we help you to become a Trader!