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Have you ever heard about trading foreign currency online in Zimbabwe? If not, have you heard about the term ‘high rate’ or ‘change money’ in Zimbabwe? If your answer still remains a no then you have probably heard a guy say to you, ‘Tine ma rands’ around the Road Port area. If not then this post is not for you.
Allow me to drift away a bit. I have been an Arsenal Fan for as far as I can remember though sadly only in the era of Arsene Wenger. Almost everyone I know love the way they play but I go a step further. I love the business behind the scenes. I remember one day watching Arsene on a news conference and one logo behind him made an imprint on my mind. I later googled it and discovered they were Arsenal’s Forex Trading Partner, markets.com. I had come across online foreign currency trading but it all seemed a lie to me until that one encounter. A club as big as Arsenal wouldn’t partner a fly by night business or any organisation that would compromise its own brand. Click here for evidence.
I googled further and to my surprise, another very big English club had its own Forex trading Partner InstaForex. We all cant dispute how big a club Liverpool is. Would they want to blow their name with something they know doesn’t work? Certainly not. Enough about the validation. I will share just some snippets of what I first encountered 2 years ago about making money trading forex in Zimbabwe but first…
The other top online trading broker is HotForex who I personally use not for any specific reason though but because my friend uses them.
Why Trade Forex in Zimbabwe
Close to $10 trillion is traded daily worldwide in the forex market. There is not a moment when you won’t find someone to trade with. This makes the forex trading business one of the most liquid market in the world.
Another amazing fact – an advantage of forex trading is it’s a 24 hour market. You almost don’t stop and can trade at any time. The Sydney market opens and starts the trading week on Sunday at 5:00 pm EST. The Tokyo market then follows at 7:00 pm EST. The London market is then next in line opening its doors to trading at 3:00 am EST and finally, New York which closes at 4:00 p.m. EST and the Sydney market would have opened 8:00 am EST an hour after London opens. The cycle then repeats itself again and again meaning for a full time trader, s/he can be out there making money each hour.
There are other many advantages of trading forex than say stocks (most common in Zimbabwe) or futures (common in other markets) but I will not talk about them. The most interesting ones are ofcourse to do with startup capital which can be maintained to as low as $50.00 (though not recommended).
How to start forex trading
The million dollar question is how then does one start? I will be doing a series of articles on this but if you can’t wait until then, our email is email@example.com. You can register here and send in the required KYCs to open an account with one of the brokers I use by clicking here. And as always…to your continued success!!!