How Much Do Forex Traders Make In South Africa?

Traders are some the highest paid jobs in the world, as they usually work for big banks and financial institutions. In recent years, due to technological advancements, more and more retail traders are emerging. In South Africa, a third world country, trading and investing was not the norm, however, trading is taking the world by storm, including South Africa. Institutional and bank traders made more money in the past, however since the emergence of retail traders South Africa, it is now the norm. Just as Forex took the world by storm it is also taking South Africa by storm.

Forex trading is an incredibly risky career, not to mention expensive, if you do not know what you are doing. There are more and more young traders emerging South Africa. Some of the youngest traders are making their millions from high school and early university stages. These young adults are making more than their parents and creating generational wealth for their families. The truth about Forex trading earnings are not simple. Many traders make around R45 000 per month, some make more but many make less. Trading is already difficult and in South Africa, due to not many regularity boards, there are many scams in South Africa. Many traders get scammed and lose thousands of Rand, some even losing financial assets, such as cars and houses. Traders do work hard and are discipline make around R20 000 a week, some times much more. Traders who have been trading for awhile start making around R50 000 a day. The top traders in South Africa make various amounts of money, the average amount the make is around R1 000 000 per day, that's around R20 000 000 a month. Lets not forget that making money with Forex isn't free. The biggest expense traders have in South Africa is Tax. Forex traders are tax as income tax payers, and have to follow the income bracket system.

It doesn't matter where you fall on the trading income list traders make a lot of money over normal jobs. Forex trading is a very lucrative career in South Africa, and traders stand to make a lot of money is they work hard and are disciplined. The Forex trading trend will continue to grow in South Africa and traders should be weary of scams, and be prepared to make a lot of money.