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how to buy crypto in south africa Replied 8 months ago - Step 5: Buy Cryptocurrency Assets After a successful deposit into your account, you can then buy digital assets by converting your USDT into whatever asset you want, or you can simply go through your trading platform’s marketplace, and pick a Cryptocurrency asset you want to buy, you will find hundreds of options available. You will also find that they are quite different order types to choose from, they include: 1. Limit Order You get to buy at any price you set for the order to be executed. 2. Stop-Limit Order This order is executed when the market price reaches a certain point. 3. Market Order This executes your order at the current market price. Furthermore, you should note that you can either hold digital asset as a form of a long term investment or you can buy/sell them on the Futures perpetual & quarterly contracts on a trading platform you choose to use as a day trader. After Buying Cryptocurrencies you can save them on platforms like Trust Wallet, Metamask, etc, these platforms do not support trading, but they serve as banks for digital assets. Meanwhile other platforms like Binance offers a built-in wallet to hold assets and also offers futures trading where you trade with leverage to increase potential gain. Keep in mind that leverage increases potential losses too. Consider each step carefully before buying Cryptocurrency, as earlier mentioned Cryptocurrency carries significant risks, market volatility & potential losses.
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what is A-Book and B-Book Broker in forex? Replied 8 months ago - A-book brokers don't make the market instead they push your order straight to the liquidity provider in exchange for a commission. This is why A-book brokers charge near-zero spreads plus commission. The advantage of A-book brokers is more transparency and faster execution. B-book brokers take the opposite side of your order and trade against you. The advantage of B-book is that you can use things like micro/cent account to execute small orders. Small orders are executed faster with B-book brokers bit they charge a wider spread.
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what is FVG? Replied 8 months ago - I agree with @Karbin, these course sellers make something so easy so complicated.
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how do you manage to stay disciplined as a trader? Replied 9 months ago - I wait till i see the setup I'm looking for before i trade. If i don't see the setup, then i don't trade at all. No position is still a position, I may not make money that day, but at least i will not lose money.
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How do i register for the free forex training organized by the Nigerian government? Replied 9 months ago - The program starts on August 29th 2025, on that day it will launch in Abuja. I am still getting details will update you here. it will likely be a physical program holding in different states.
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what are the qualities of a good trader? Replied 9 months ago - I would say being a good observer is a good quality for a trader to have. You know how we play spot the difference where you are given two images and asked to find out a difference? Thats kind of like what i mean. Looking at the charts, a good trader should be able to spot areas of similarities quickly.
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Transitioning from demo account to prop firm trading without live tradng experience Replied 10 months ago - around 95% of those who take prop firm challenges usually fail, this are legit statistics i saw on maven prop firm legal docs. This means it is not a walk in the park, just because you recorded some success on a demo account doesn't mean you are ready to face a prop firm challenge. Perfect your craft more using a real account so you dont waste your money on prop challenges.
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How much is 0.01 lot size in forex, How many South African Rand does 0.01 lot in the Forex market mean? Replied 10 months ago - A standard lot is 100,000 units of an instrument so 0.01 lot is (0.01 x 100,000 units) = 1,000 units Now if you are trading an instrument like eur/usd with an exchange rate of say 1.1393 then 0.01 lot will be worth (1,000 units x 1.1393) = $1,139 USD But you don't need to put down this full amount of $1,139 before opening a trade, if you are using a leverage of say 1:400 then you only need to put down ($1,139 /400) = $2.85, to open a trade. Now, $2.85 is the value of 0.01 lot size when you are using 1:400 leverage, so if you convert $2.85 to South African Rand that will give you around 50 Rand.
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can i deposit in any currency into my trading account? Replied 10 months ago - Yes, you can deposit in your local currency and but there is a currency conversion fee for turning it into your account display currency. To avoid this fee, it is better to set your account currency (aka base currency) to be the same with the currency you hope to be depositing in most of the time. For example I am in South Africa so to avoid being charged a conversion fee on deposits & withdrawals I opened by trading account in South African Rand since that's the local currency here.
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what is break even in forex Replied 10 months ago - its a situation where you exit a trade without any profit or loss, so you and the market are even
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What you need to know about forex as a beginner Replied 10 months ago - This is really helpful. Thank you
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what are the 4 sessions in forex? Replied 10 months ago - Farah please shed more light on this "Frankfurt session", I've never heard of it.
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what is a bearish trend in forex, why is it called beaish? Replied 10 months ago - A bearish trend is so called because the candles are usually falling downwards just like when a bear is attacking, standing on its hind legs, and using its paws to strike downwards.
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how do winning traders think? Replied 10 months ago - They get out of losing trades almost immediately, they dont give a loss time to grow. Its the hardest thing to do and even after I have said it here many traders wil still not be able to do it. Its like people freeze when they see losses . So basically, winning traders are comfortable with seeing small losses on their balance sheet, they dont aim to win every trade.
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what's the difference between bid price & ask price in forex? Replied 10 months ago - The bid/ask prices can on the same instrument can be different with various brokers, because every broker gets their bid/asj pricing from different sources. Whatever is the case, always look for a broker with low bid/ask price difference or low spread. it makes trading cheaper over the long run, as these spread fees can add up over time if you are a frequent trader.
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why do brokers have different spreads for the same instrument? Replied 10 months ago - Because these brokers extract their exchange rate pricing (bid/ask price) from different banks and other liquidity providers. These liquidity providers do not give the same exchange rate pricing hence the spreads cannot be the same because the spread is the difference between the ask price and bid price. But on the other hand, some brokers go ahead to mark-up the spread meaning they add to it to make up for other benefits they grant you. For example a broker that does not charge overnight swap fees may inctrease their spread to make up for not charging you overnight fees etc. I think the forex market deserves tighter regulation but all hands are not on deck because some countries dont even want to regulate forex.
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what is the difference between the zero spread account and the ecn account? Replied 10 months ago - The so called zero spread accounts are offered by market maker brokers to give you zero spread "by design" so it does not come naturally. The ecn accounts give you near-zero spreads naturally depending onthe pricing they get from the big banks who make liquidity possible.
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who are market makers in forex & why are they needed? Replied 11 months ago - A market maker is a registered company that is there to take the oposite sides of your trades. For small trades some forex brokers can choose to act as market makers but for large volume trades, there is a need for large institutional market makers such as Citadel Securities LLC etc. Market makers specialize in different instruments such as Options, Futures, Exotic Currency Pairs, Major Currency pairs, Commodities etc. See this list of some registered market makers from the CME website https://www.cmegroup.com/markets/fx/fx-futures-and-options-block-and-efrp-providers.html
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what is the meaning of minimum deposit when opening a forex trading account? Replied 11 months ago - Minimum deposit is the smallest amount you will be allowed to deposit into your forex trading account at all times. Minimum deposit is a big deal because it decides whether or not you can afford to trade with that broker. There is no point opening a forex trading account when you cannot afford to deposit money into it, you might as well look for a broker with an affordable minimum deposit to match your financial circumstances. If you attempt to deposit below the broker's specified minimum deposit amount, the submit button will be disabled to prevent you from completing the transaction. You can try it for yourself and see.
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what is ask price line & bid price line in forex Replied 11 months ago - For MT5 users, go to your chart settings and enable bid price and ask price line, you will see two lines appear on your chart. The upper line is the ask price line while the lower line is the bid price line. Bid Price Line For a buy trade protected with a stop loss, when the bid price line touches your stop loss line, then your stop loss will come to life and you get closed out. Ask Price Line For a sell trade protected with a stop loss, when the ask price line touches your stop loss line, you get closed out too. Do Not Disable The Bid/Ask price Lines I do not think you should disable the bid/ask price lines from showing on your screen even though they may seem like a burden. These lines help you know when your stop loss is about to come alive even without price reaching it. Many new traders wonder why their stop loss was hit when price didnt get to it, and now you have a clue as to why.
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