currency trading south africa

Currency trading South Africa

Speculative currency trading is not allowed in South Africa. In order to trade currency online in South Africa clients are required to send funds out of SA using their annual allowances into an overseas trading account opened with an international currency broker.

Local companies in SA are not allowed to provide locally based and funded currency trading platforms as this would effectively be a breach of Exchange Control Regulations.

The SA Reserve Bank only allows Authorised Dealers and Bureau de Changes to offer any form of currency trading in South Africa however only physical delivery of foreign exchange is permitted.

Speculative online currency trading by South Africans can only take place via an overseas based trading account that is funded using the Foreign Investment Allowance of the private individual opening the trading account.