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While many people think of Africa as a dark place where lions roam the streets and children have elephants and monkeys as pets (yes, Americans have asked me questions like that online before and I know it’s happened to you too), we, especially as South Africans know a lot better. We know that there’s dangerous Jo’burg and gorgeous Cape Town and that the competition between the two cities will never die (just so you know, Cape Town is better). What many of us don’t know about is the exploding Forex South Africa market and how we are about to become a world leader in this field. This is good news (for once it isn’t about strikes and crime after all). This article outlines why this is the case.
Forex South Africa: Why South Africa is the Perfect Place for Currency Trading
South Africa has one of the most sophisticated banking systems in the world and our tax agency, the South African Revenue Service is world renowned for the way in which it is run and organized. Furthermore, South Africa is the biggest economy in Africa and a 2010 survey found that the country has the second-lowest business tax rate out of the fourteen developing countries which were surveyed. Even the recent and continual labour disputes in the mining industry are considered by those in the know to be small hurdles when it comes to South Africa’s increasing economic power in the global market. South Africa is fast becoming a developed economy.
Forex South Africa – Where’s the Proof
While I may just have outlined why South Africa is the perfect place for the Forex market to create a base and continue to grow, it’s the proof and the faith that major global players have in South Africa that makes all of the difference. South Africa’s first foreign exchange expo, the SA Forex Expo, held on December 7,2012, attracted 24 of the biggest names in the FX world, more than any other expo did that year. The MENA Expo that was held in Dubai, considered by many to be the most established trade show of its kind in the world, attracted 23, the Chinese Online Trading Expo attracted only 8 countries, while the London Investor Expo attracted a mere five. Furthermore some of the biggest players in the Forex world including the likes of Saxo Bank, IG Markets and Markets.com have recently set up offices in South Africa. Need more convincing?
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