Forex trading In Africa-Is it a worthwhile Venture?

forex trading iN AFRICA
Did you enjoy the reading? Spread the love by sharing

The first thing or question that comes to mind with the mention of online hustles is- Might it be a scam? forex trading is not a scam. It is also not a “get rich quick scheme” one misconception about forex is that a person can become a millionaire overnight. Another misconception about forex is that it is a gamble.

The truth about forex is that it is an investment whereby you must invest your cash and make the right choices for you to make profit. Unfortunately many people view it as a gamble are the ones who don’t get the knowledge first.  There are multiple strategies that people use to analyze the market and predict the direction of the market.

In Africa, Forex trading is slowly taking shape and becoming popular in most countries. South Africa has the highest number of traders in Africa and also having attracted many brokerage companies. In Kenya there are a number of traders however most of them maintain a low profile presence. 

The best thing about Forex trading is that it has no restrictions. Whether age, capital, level of education as long as one has the right skills & knowledge You can engage in this business.

One of the most popular Forex traders in Africa is 25 year old Sandile Shezi of South Africa. He is an accomplished trader who became a dollar millionaire at 22.  He is the founder of the Global Forex Institute Foundation (GFI).  This is a proof that the youth can accomplish a lot from Forex trading if they have the right mindset and get the knowledge.

Unlike 8 to 5 jobs Forex trading comes with a lot of flexibility. One trades when free and through the MT4 phone application one can monitor their trades on the move. This flexibility capped with the financial freedom it comes with makes it a worthwhile venture for anyone interested in online entrepreneurship.

The most common question for most people who are contemplating joining the market include:

How much money can I make in a month in profits? This depends fully on the amount of money you put in, the number of trades you take per month and the lot size you use. The more money you invest, the more the purchasing power.

It is however advisable not to overtrade or overleverage your trading account. Emotions are one of the most important things in forex. This is taught in the psychological part of training. An accomplished trader will tell you that if you can’t control your emotions then you can’t control your money.

If you are contemplating joining Forex trading business make sure to invest in the right knowledge before investing into the business.

Finally, yes it is very profitable, but only for those who invest in knowledge. At Brains with Concepts we offer training that will give you the knowledge you need to start hacking the market as we popularly refer to making super profits.

Give us a call today or join our Forex group for beginners telegram group.

Before you go we have FREE RESOURCES to get young entrepreneurs like you get started!

Take Me There

Did you enjoy the reading? Spread the love by sharing