A. I fully understand where you’re coming from.
It’s not safe anymore to keep your money in just one place – especially in South African markets.
Lucky for you, there are a couple of brokers that make offshore trading easy nowadays.
The brokers I recommend for offshore trading, which I also personally use, is Rand Swiss and ProTrader.
And so, I’m going to answer your question in five easy steps on how to open an account with them, how much money you’ll need and how to profit on the go with offshore markets.
Five consecutive trades in a row
yielded a massive return on margin of 420.38%
• In only 8 days you could have made a gain of 243.9% from a 1% increase in the Rand Dollar.
• In just 23 days, you could have made a 21.98% gain from a stunning long play on GBP/JPY.
• With the powerful leverage in pickpocket trading you could have made a 111% gain in just 15 days betting on the pound against the ozzie dollar.
Step #1: Open an account through their website and download their trading platform
First, you’ll do three things within this step:
• Go to their website
• Open a trading account (where you’ll gain access to your login details).
• Download their easy to use trading and charting platform.
Once this step is done, you’ll already have access to your profile, status and features.
Step #2: Send through 4 easy PROOFS
When you open a ‘Live Trading Account’, you’ll be asked through the website (or via email) for four main documents.
1. PROOF of Identity
2. PROOF of residential address
3. PROOF of your tax details
4. PROOF of your banking details
You’ll fill in your information and send through the documents and then wait until your application has been processed.
For many brokers, this can take up to two to three weeks.
But with Rand Swiss and Pro Trader, it really shouldn’t take longer than a day.
However, I would give lee-way of two days because of the whole Corona BS.
Once processed you can move to the next step.
Step #3: Deposit money into your account
Once all is SUCCESSFUL – you’ll need to deposit money into your account.
I personally wouldn’t start with less than R20,000. This is so you can see some kind of progress as well as deal with the minimal costs to pay with each trade.
If you don’t have R20,000, then you can deposit R5,000 and just play around with trading until you’re more comfortable to deposit more.
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Step #4: VERY IMPORTANT
The brokers might not know what kind of markets you want to trade. And so I would send a quick email to them with the Subject line “I’m an FSPInvest reader, please open my offshore CFD trading account.”
This way, they know you want to trade international CFDs and you might even get special rates.
Step #5: Sign in and start trading away!
Once all done and money has been deposited into your trading account, you’re ready to go.
You’ll simply open the trading platform, log in with your given and chosen details.
And then you’ll have the trading and charting platform at your disposal.
Best of luck with your offshore trading success…
Managing Editor, Trading Tips