Forex trading, also known as foreign exchange trading, involves buying and selling currency pairs with the aim of making a profit from fluctuations in exchange rates. Traders speculate on whether one currency will rise or fall in value against another.
To start trading forex, you'll need to open an account with us, a reputable and regulated forex broker, deposit funds, and then log into our trading platform to execute trades. It's essential to educate yourself about forex trading basics and risk management before getting started.
We offer access to Trading a wide range of currency pairs , including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs via our Trading platform.
Leverage allows you to control a larger position size with a smaller amount of capital. It's important to note that trading with leverage can amplify both potential profits and losses and as such must only be done with a comprehensive understanding of how this Trading tool works. For example, with a leverage of 1:100, you can control a position size 100 times larger than your initial trading capital.
The spread is the difference between the bid (selling) price and the ask (buying) price of a currency pair. It represents the cost of trading. Tight spreads are generally preferred by traders as they reduce trading costs.
The amount of money needed to start trading forex varies depending on the account type you opt for. We offer accounts with a minimum deposit as low as R100.
Forex trading carries inherent risks, including the risk of losing your invested capital. Market volatility, leverage, geopolitical events, and economic indicators can all impact currency prices. It's crucial to have a solid risk management strategy in place.
Yes, - at Space Markets (Pty) Ltd we offer you access to our mobile trading platform that allows you to trade forex on smartphones and tablets. This platform provides access to real-time market data, charts, and trading tools, allowing you to stay connected and trade on the go, from anywhere!
Whilst we do not directly charge any commissions on most of our accounts (please review account types for more in-depth information related to the commissions involved with each account type), the use of particular payment service providers for deposits and withdrawals may attract fees. Ensure that you're ready the terms and conditions at every point of your Trading journey to minimize the chances of unforeseen fees.
Yes, forex trading is regulated in most countries across the globe to ensure fair and transparent trading practices and protect traders' interests. It's important to choose a regulated broker authorized by a reputable regulatory body and Space Markets (Pty) Ltd is an obvious choice as an FSCA regulated broker with the highest compliance standards in place to ensure equitable and legal trading conditions for all our traders.