There are two primary ways to become a more successful Forex trader - to practice, and to learn about the industry.
At DailyForex, our goal is to simplify your trading so that you can trade easily and smartly. To this end, we offer you a collection practical articles written by our Forex experts to help maximize your trading success.
You can also browse our articles by category to find information and trading strategies that can help you improve your profitability and enhance your trading experience.
While the Forex market operates 24/5 with nearly $8 trillion in daily turnover, allowing Forex traders to trade when they want, my quick guide below will reveal how you can earn more money with your existing strategy by trading during specific Forex market hours in the UK.
South Africa recognizes Forex trading as a legitimate activity, and the South African Revenue Services (SARS) requires South African residents to pay taxes on Forex trading profits. In short, all South African residents must declare their Forex profits for tax purposes, and there is no getting around it. Like most nations’ revenue-collecting services, SARS will impose penalties for not paying taxes.
The Forex market operates 24/5 and has no official opening and closing times. It operates with a start to the trading week and an end to the trading week. Therefore, Forex trading starts Sunday at 22:00 GMT and ends Friday at 22:00 GMT. For South African Forex traders, it translates to Sunday 00:00 until Friday 24:00, but what are the most profitable Forex market hours in South Africa?
South Africa allows its residents to trade Forex, offering a world-class regulatory structure. The country’s time zone is also well-placed for currency trading, allowing traders to participate, during daytime hours in South Africa, in the two most liquid Forex sessions, the London and New York Opens.
South Africa emerged as a Forex hotspot over the past decade. The FSCA, South Africa’s Forex regulator, established itself as an industry-leading regulator, and South Africa spearheads the African Forex market in innovation and success. The South African Forex trading infrastructure supports most trading strategies. I have compiled a list of the most successful Forex traders in South Africa, which beginners can use as inspiration.
Forex traders should be aware of the Western Christmas and New Year holiday season because it impacts market opening and, arguably, the market itself.
Crude oil is one of the world’s most widely traded commodities. Its high liquidity provides profitable opportunities using long-term and short-term strategies across different market conditions and economic cycles.
Forex payment gateways are a necessary bridge between a trader’s bank account and their Forex trading account. While Forex traders can use their bank account or the credit/debit card associated with it, Forex payment gateways are faster and cheaper. They can offer additional perks to support the lifestyle of successful Forex traders.
Crude oil is one of the world's most popular markets, offering profitable opportunities across timeframes and different market conditions. Even though there are standard crude oil specifications, such as WTI crude oil and Brent crude oil, different regions apply taxes differently based on their internal tax codes.
Despite the energy transition from fossil fuels to renewable alternatives, crude oil is a pillar of the global economy and will remain so for decades to come.
Learn all you need to know about Binary Trading in Bangladesh.
Learn all you need to know about Forex Trading in the Philippines.
Learn all you need to know about Forex Trading in Canada.
Is Forex Trading legal in the Philippines?
Forex Trading Tax Obligations in Canada
