Forex and Volatility indices trading is rising in popularity in Zimbabwe. This website was created after the realisation that there isn't a lot of forex trading information out there that is meant for Zimbabweans.
How To Get Started With Forex Trading In Zimbabwe.
There is a lot you need to know before you can start trading forex successfully. We have provided all the information you need here.
How To Start Forex Trading In Zimbabwe
1. Choose A Forex Broker
The forex broker is the one who gives you access to the financial markets and allows you to trade. Without a broker, you can't trade.u003cbru003eu003cbru003eA challenge for forex traders in Zimbabwe is that there are a lot of brokers that do not allow Zimbabweans to open trading accounts due to sanctions. u003cbru003eAnother challenge is that there are many scammy brokers out there who may steal your money.u003cbru003e All this can be overwhelming for a beginner.u003cbru003eu003cbru003eTo make it easy for you here we a broker that you can use to get started. The broker is called u003ca aria-label=u0022Deriv(opens in a new tab)u0022 href=u0022https://swagforex.co.zw/recommends-derivmainu0022 target=u0022_blanku0022 rel=u0022noreferrer noopeneru0022 class=u0022rank-math-linku0022u003eDeriv u003c/au003e
Open A Demo Account
After choosing your broker you then open a demo account. u003ca aria-label=u0022Click here to open your free demo account. (opens in a new tab)u0022 href=u0022https://swagforex.co.zw/recommends-derivmainu0022 rel=u0022noreferrer noopeneru0022 target=u0022_blanku0022 class=u0022rank-math-linku0022u003eClick here to open your free demo account.u003c/au003eu003cbru003eu003cbru003eThe demo account allows you to trade real-time charts and currency movements using virtual money. u003cbru003eu003cbru003eThink of a demo account as a simulated test drive, you trade real-time currencies but you don’t risk any real money. The profits and losses you make would be reflective of how you would have fared using real money.u003cbru003eu003cbru003e It's free to open demo accounts with the brokers above so you can open as many as you wish and test the brokers' platforms.
Open A Real Trading Account
A demo account allows you to paper trade but you will not be able to withdraw the profits that you make. To do that you need to upgrade your account to a ‘real' one. You can easily do that u003ca aria-label=u0022with Deriv(opens in a new tab)u0022 href=u0022https://swagforex.co.zw/recommends-derivmainu0022 rel=u0022noreferrer noopeneru0022 target=u0022_blanku0022 class=u0022rank-math-linku0022u003ewith Derivu003c/au003e.
Deposit Funds u0026amp; Start Trading
You will then need to deposit funds so you can trade real money. You can deposit funds using a Mastercard or Visa card. A great advantage of u003ca aria-label=u0022Deriv (opens in a new tab)u0022 href=u0022https://swagforex.co.zw/recommends-derivmainu0022 rel=u0022noreferrer noopeneru0022 target=u0022_blanku0022 class=u0022rank-math-linku0022u003eDerivu003c/au003e is that you can use local payment agents.u003cbru003eu003cbru003e These are local traders who can help you deposit or withdraw your profits from the broker. If you want to deposit you simply give them US$ cash or Zipit or mobile money and then they transfer the funds to your account and you start trading. u003cbru003eu003cbru003eTo see a list of the local payment agents simply visit the ‘Cashier' tab in your u003ca rel=u0022noreferrer noopeneru0022 aria-label=u0022Deriv account. (opens in a new tab)u0022 class=u0022rank-math-linku0022 href=u0022https://swagforex.co.zw/recommends-derivmainu0022 target=u0022_blanku0022u003eDeriv account.u003c/au003e
- You only need data of wifi to get started as it is completely free to open your accounts.
There is a lot more that you need to learn in order to start trading forex successfully.