How much money do forex traders make a day in South Africa? A Forex trader in South Africa makes an average salary of R 35 576 per month. Some forex traders in South Africa make at least 50 USD per day. Per month they make around 1 000 USD from a 2 000 USD deposit. However, this also depends on your trading skills and strategy. There are also some traders who manage to spin 100 USD into 1 000 USD in a month.
How much forex traders makes in a day in South Africa is also dependent on the volatility of the asset on the day, whether they are trading the derivatives or spot markets and how much volume they are trading. If you put more, you will earn more. However, a trader can lose just as much in a day in South Africa.
Does it Matter How Much Money I Start With?
Yes it matters, if you want to make more money in forex South Africa, you need to invest more. A trader who starts with 500 USD deposit cannot really make much per day because he/she trades with lowest lot sizes. However, a trade who starts with a 50 000 account, can choose big lot sizes and can make at least 20 000 USD per day even from a single trade.
How much a forex trader makes really depends on how much capital they have. Some traders don’t make anything per day. No matter how successful you are, if you invest little, you will also make little profit. However, if you start with a capital of 500 USD and follow good risk management and good forex trading strategy, you can gradually grow your capital with profits. In a few years, you may have enough money to trade forex for a living.
There are professional traders in South Africa who make between 5 000 US Dollar to 50 000 US Dollars per month. But their profits are not strictly consistent. There are some months where they hardly make money.
How much can forex traders make a day?
According to research, an average forex trader in South Africa makes $150 per week if you only take one trade per day on the commonly traded pairs if your margin is about $50 and your trade profit target is about 50 pips, or $1 per pip. If you aim for 1% profit daily and your system has a win percentage of about 60.