Where to learn FOREX proffesionally? Any South African's on here?

Hi there,

I am brand new to Forex and I’m learning a lot from this site as well as various other articles but was wondering if there is anywhere in Johannesburg where I can attend proffesional classes or a course through a college etc as well as what would be tried and tested sites to use for real money trading that is not dodgy as I am currently using Etoro as a practise account but I am hearing a lot off stories that not all can be trusted.

Any help would be appreciated but I am particularly interested here back from fellow South Africans that has done all of the above but everyones comments are appreciated.

Thank you very much in advance!!

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Well: here I am!!! LOL!!!

How can I help??? LOL!!!

Welcome anyway.

Let me say this (for starters): there is absolutely no reason on this earth for you to find ANY place ANYWHERE IN THE WORLD and PAY to learn how to trade (FOREX or anything else). Some of those ‘paid for’ training course are BIGGER ‘cons’ than some online FOREX brokers!!! Everything you need to get started trading profitably from the ‘get go’ is RIGHT HERE on BabyPips (and if you’re not ‘hell bent’ on trading FOREX pairs you can take a look at my forums at techtradercentral.proboards.com). Well put it this way: BETWEEN the two sites and the many members that are here (and the few, unfortunately, that are over there) that are willing to help you don’t need to go ‘forking out’ money to some ‘charlatan’ for ‘mentorship’ or ‘trading courses’ or any other ‘bulls*it’ like that. Rather keep your money for your trading. I know of one chap right here in South Africa who is charging, wait for it, R10 000 PER MONTH for ‘mentorship’. I’ve met two of his clients and they have not even come close to covering their monthly costs out of his ‘supposed’ ‘mentorship’ and trading signals. So I ‘beseech’ you: don’t waste your money. If you trade it and lose it (for which there is no reason really): that’s better than giving it to somebody who, in all probability, is running these ‘trading courses’ or ‘mentorship programs’ because they’re not making enough money out of their OWN trading to make a living!!! ALL you HAVE to do is ASK on the forums. And if you don’t get an answer that satisfies or that you understand then ASK AGAIN. That’s what the (these) sites are for.

So there’s my first piece of (South African) advice FOR FREE!!! LOL!!!




One ‘qualification’ on my above statements though: paying to attend seminars given by the likes of Linda Bradford Raschke or Larry Williams or Larry Connors??? That’s different. These are PROFESSIONAL and, dare I say, ‘celebrity’ traders and even I wouldn’t be averse to going to the USA to attend one of their seminars etc. But in their cases: you’re 'paying for ‘the name’ and ‘the privilege’. OTHER THAN MYSELF (LOL!!!) there are NO ‘celebrity’ traders in South Africa!!! LOL!!!

Hi Dale

Thank you so much for all the info very much appreciated and I have taken it to heart. Could you please respond to the latter part of my question regarding platforms with regards to which are better for payouts, fees etc and not dodgy.

Very much appreciated.


It is so refreshing to see fellow Saffa’s waving the forex flag.
I am also very new to trading and have just opened a demo account (not even to trade yet, but to watch the markets live).

When I finished reading the school of pipsology, I was more confused than when I first started. One question answered, opened up even more questions.

Since then I have really been digging in deep with my studying. I have downloaded various forex ebooks and audio courses off the internet (Not sure if they were free of if I was pirating) and that has helped me tremendously.
I also follow babypips and other forex websites on my newsfeeds and my social networks profiles.
In essence, I have not paid a cent for any of my newly acquired forex knowledge.

My advise from one newbie to another. LEARN! LEARN! LEARN!
Once you are all learned out. Learn some more!

Ps. To Dale: Thanks for your assistance with my earlier question about brokers and the FSB.
I have now opened a Delta Stock demo account.

PPs. Maybe we should all hook up one day for a lekker bring and braai. Brunnu-vyn-en-koke style! ha ha… JJ

Well FIRST of all: you don’t have to ask ME twice to ‘hook up for a braai’ i.e. ‘I’m there’!!! LOL!!! (But bring THE RUM)!!! LOL!!!

No problem (about brokers and the FSB) but let me tell you this: such application is not to be taken lightly I’ll tell you so it’s going to take some time so far as I can tell (if you think you’re confused about TRADING let me tell you that this FAIS Act of ours has got my mind in a total ‘spin’ and I’m sure that the FSB appointed agent that we’re dealing through is ALREADY sick and tired of all of my Q&A’s)!!! LOL!!! In the meantime: I can assure you AS A TRADER (forget about my ‘Broker Support’ ‘title’ i.e. that’s a pretty recent development in the bigger scheme of things) you cannot go wrong with Deltastock. I traded with my fair share of brokers in the beginning and I’m not lying to you that only after a year or two did I finally realise (from learning) that I was being (almost literally) ‘raped’. That’s not to say that I wouldn’t have lost my first few live trading accounts i.e. I would have anyway. That I know. But the ‘assistance’ that I received from those ‘lowlife bucketshop brokers’ accelerated the process somewhat!!! Of course: there are other decent and honest and reputable brokers out there (NOT MANY but a few). All I know is that as a TRADER I’ve never had a single problem EVER with Deltastock. As a matter of fact (and instead of my ‘rehashing’ my reviews and wasting space here) here is a link to my ‘take’ on brokers in general and, of course, Deltastock: Deltastock - Global Forex & CFD Broker. Put it this way: even if you do NOT open an account with Deltstock ‘take heed’ of just some of the ‘moves’ that other less reputable brokers will ‘pull on you’ at every chance they get!!!

Of course (I think I’ve already made you aware of my forums but DO note that they ‘geared’ for the trading of equities commodities and NOT FOREX): if it’s trading systems that you’re looking for that have been specifically written (and paper-traded and backtested ‘ad infinitum’) for Delta Trading then they’re downloadable from my forums (as well as the books that go with them although, as stated, download the books by all means BUT DO buy them i.e. the authors are ‘due what’s due to them’ and just one trading system from each book would probably cover the cost of the book in the first few trades (EVEN IF ordered from Amazon WITH the high price we pay for shipping to here)!!! I’m not a ‘superstitous’ person but in THIS business I do believe that somehow ‘uncannily’ ‘the wheel does indeed turn’!!! LOL!!!

Let me also say this (AGAIN i.e. I’m pretty vocal about this): BE CAREFUL of ‘information overload’!!! I made that mistake BIG time. If I look at the way that I trade TODAY (just following those systems): I could have ‘gotten there’ within the first month of trading I assure you. All this interesting, but superflous, knowledge of the markets and what makes them ‘tick’, has not, in hindsight, helped me ‘one iota’. As I noted on another thread just today: if you’re going to trade any market fundamentally then I believe you’ve got to have been (almost literally) ‘born’ into this business. I wasn’t. And I don’t personally know anybody that was. So: for better or for worth I’m ‘stuck’ trading purely technically and mechanically. Then again: ‘they’ say that you die with your knowledge!!! Who knows!!! I want success NOW not after I’m dead!!! LOL!!!

But as far as brokers are concerned: take a look at the reviews on a site called Forex Peace Army (forexpeacearmy.com). They appear to have become the ‘de facto standard’ for broker reviews. Sometimes you have to ‘sift through’ the reviews given by ‘supposed traders’ i.e. some have just wiped out their accounts and have to blame somebody and, oh well, the broker is ‘first in the blame line’. Other reviews are given by OTHER brokers trying to make a particular broker (the competition) ‘look bad’. But what you’re looking for are ‘patterns’ of complaints (or compliments). They soon emerge and those are the REAL reviews.

I hope that all helps somewhat.

Put it this way: there is NO reason (once again in hindsight of course) for a trader to NOT start OUT trading profitably. A decent trading system, a bit of a (FREE) helping hand from others around here, and (I cannot stress this enough) GOOD AND SOUND AND PROPER RISK AND MONEY MANAGEMENT (which in it’s turn means ENOUGH CAPITAL to trade what you’re trading) and you’re ‘good to go’!!!

Seeing that you’re both new ‘converts’ here: do yourself a favour and Google ‘turtle trading’ or ‘turtle trading experiment’ (phrases like that). Long story short (and you’ll see what I mean after reading about a trading group called ‘The Turtles’): ANYONE can trade just as long as they follow a decent trading system, have ‘self control’ (I normally refer to it as ‘patience and restraint’), and manage their risk.



on a similar subject. Some people pay for their finance degrees.

Would u consider a finance degree graduate has ANY idea about markets and trading? I was always curious about that.

That’s a very good question you know.

Frankly: I doubt it very much.

Let me put it this way: I did all the subjects (credits) for my B.Comm (financial degree) (the idea back then was that I was going to become a Registered Accountant and Auditor but I never wrote the Accountants and Auditors Examination, known here in South Africa as the ‘Board Exam’ i.e. somehow I got 'sidetracked into the world of IT when the FIRST IBM XT computers came out). Obviously: economics was, if memory serves me correctly, at least three credits toward my degree (three years worth of economics). Alright: this was ‘in another life’ it’s that long ago!!! LOL!!! BUT: I can tell you that unless the subject matter has changed I don’t see how it could be of any use to a trader (who trades on the fundamentals). The study of economics (at least the way I did it back then) may give you a ‘general overview’ or ‘general understanding’ but insofar as it being any good to you as a trader is concerned: well I just don’t ‘see it’. But that’s just me. Let’s face it though: the likes of ‘the Ben Bernank’ (Ben Bernanke), Paulson, Greenspan??? Well: one can only ASSUME that whatever degrees they have must play a big role in their understanding of the fundamentals etc. But THEN AGAIN: they’re not traders (and not only that: after ‘sub-prime’ and the ‘credit-crunch’ one can ONLY wonder)!!! LOL!!!

Actually: you’ve asked a VERY good question!!! I mean: I’m just thinking about somebody like Jim Rogers. He’s a trader (although that’s debateable i.e. Jim Rogers will buy oil today and ‘sit on it’ for YEARS if needs be so is that TRADING or INVESTING)??? Does he have any qualifications??? I don’t know to be honest. But he has a certain ‘common sense’ or ‘feel’ or ‘talent’ or ‘understanding’ to make money out of this business (but as I said: is he TRADING or INVESTING i.e. there’s a big difference).

What I CAN tell you though (and I know a little about this simply because it’s my ‘dream job’ so I’ve done a lot of research on the subject): VERY few FLOOR TRADERS (and in my opinion and to be honest these are the ONLY REAL TRADERS in the world i.e. we just ‘ride their coattails’ really) are qualified as ANYTHING. A good floor trader is ‘streetwise’ and ‘streetsmart’ and ‘sharp’ and after spending enough time on the floor they ‘learn’ to ‘feel’ the ‘beat’ of the markets (of course I’m NOT talking about FOREX here) and ‘none of the above’ are you going to learn from a book I don’t believe.

But of course: there are hedge fund managers, analysts, etc. so there must be SOME merit in a finance degree??? Then again I’m sure you’ve heard the ‘old joke’ (I forget the exact numbers always quoted): you can have ten analysts in a room and get fourteen different opinions as to where the markets are likely to go!!! LOL!!!

I’ll tell you what always fascinates me though: just about every analyst that they have on Bloomberg or CNBC will ‘launch’ into a FANTASTIC explanation of, say, where a certain stock or stock index future is GOING to go, and explain the ‘fundamentals’ behind their reasoning and, then, in the last few seconds of their little ‘claim to fame’, they’ll show you a HUGE chart with Wilder’s RSI or ADX on it (which is PURE technical analysis)!!! LOL!!!

But to be honest: I hope that some others ‘chime in’ here. I mean: IS there INDEED some type of formal degree that would ‘make’ a good trader???

From a TECHNICAL (analysis) point of view: most of the ‘old timers’ who designed (in my opinion) the best technical trading systems in the world were qualified engineers (Wilder for one) or mathematicians. Stuff like that. Von Tharp has a PhD in ‘something’??? Alexander Elder has a doctorate in ‘something’??? Larry Williams (he’s just got ‘gut instinct’ and ‘the gift of the gab’ as far as I know)??? Bill Williams has a PhD in ‘something’???

This is (could be) a very interesting debate!!! Thanks for bringing it up!!!



Thanks for the information Dale.
I actually did get a case of information overload recently. Got my brain in a twist.
Hence to say I have now deleted all the world news off my feeds.

I will definitely check out the link you sent and the ‘turtle trading experiment’.

Hey Don and Dale thank you guys so much for your thorough and honest answers I really appreciate and will check out everything you have suggested, sure I will be back soon with more questions.


SOUTH AFRICAN TRADERS Ya! .standerd FX trader is a good broker and its with standerd bank or forex.com. I use standerd but they are the same.

Hey Don and Rudi,

It’s my pleasure.

AND: I’m not just saying this because you’re South Africans but I’ve got a ‘good feeling’ that the two of you are going to do alright!!!


Are you referring to Standard Bank??? Just curious. I know Standard, First National, and ABSA offeri online FORX trading but the last time I looked the fees, compared to the fees charged by International online brokerages, were HORRENDOUS!!!

As a matter of fact (as you will no doubt gather that although I represent Deltastock I really to try to help no matter what i.e. it is not my intention to ‘ram’ Deltastock down anybody’s throats): IG Markets has a local prescence in South Africa and are ALREADY registered with our FSB. But just one word of warning: IG Markets was ‘clever’ i.e. they bought out an existing local stock broker that was already registered with our FSB and therefore were ‘automatically’ (by default) registered with our FSB so exactly how much of the compliance they themselves were scrutinised for I cannot say. Also and as I said: check out broker review sites!!! I say that again: check out broker review sites (like Forex Peace Army i.e. forexpeacearmy.com) i.e. look for reviews on IG Markets!!! ‘Get my drift’???




I thought I might drop by even though this might be an old thread… Im a Saffa thats been demo trading and also read through babypips school. The brokers that Ive researched that i find to be reputable are Dukascopy and Pepperstone from Aus. Im currently living in New Zealand and have come across another broker called thinkforex who are from Auckland, who seem pretty good- still not a 100% sure yet.

Im still trying to find a decent strategy for trading… will get there eventually I hope :slight_smile:

Another forex broker review site would be- 100forexbrokers.com


Wow, I’ve always wanted to meet a real celebrity trader.
You’ve made my day, Dale. :smiley:

Oh … I browsed FF today, looking for some MT4 stuff, and stumbled over a ‘DeltaStock’ thread.
I’ve read the OP for fun, and was just about to point the guy in your direction, when I saw that your twin brother, [I]fintrans[/I], had already taken care of matters.
‘The only decent broker on the planet’? It’s nice to know your brother isn’t the exaggerating type. :smiley:



You’ve been pretty ‘scarce’ lately too. Sure you and Buckscoder are not having a party without me??? LOL!!!

I don’t know if you’re kidding around or not but if not: ‘fintrans’ IS me over there!!! LOL!!! Frankly I wish I could have it changed. You know: to keep things ‘consistent across the board’ but I don’t think it’s possible (although come to think of it I’ve never asked).

But as you can see and as I noted on leandar’s thread: over THERE you’ve got to mentally prepare yourself to ‘go into battle’ before posting. TOTALLY different ‘culture’ over there.



lol, of course I’ve been kidding about your ‘twin brother’. :smiley:
And, no … no ‘private party without you’ for BC and me, hehe. I’ve been quite busy with some other stuff over the past week … and I think ‘Mr Gecko’ just dropped off the face of the planet. Maybe he has a bad cold or something.

On Monday I’ll start my ‘battle’ with MT4 … I wonder how I’ll get along with it.
I hope, by the way, that non-US brokers offering MT4 now will not discontinue it once MT5 is fully ready and will be industry standard.
It’d be time consuming, changing all the scripts and EAs to the new language (not compatible with MT4) … and also, MT5 does not allow hedging and, afaik, implements FIFO. That will be ok for US citizens (poor buggers), since it’s part of their regulations anyway, but for those of us not squirming under the boot of the US regulators it would be really bad.

Regarding FF: Concur … that’s why I haven’t bothered to register there. If I want bad mannered, ill-informed kids I’ll watch a ‘reality soap’ on TV.


Quick question. Which broker do professional traders usually use?

All things are difficult before they are easy.

Uh HUH. For ONCE: a ‘no brainer’ answer:

Forex | Currency Trading | CFD | Indices | ETF | Crude Oil

See??? Simple.



hi how are you finding Standard bank forex Platform?

You are a ib of delta stock,can you send me your email address or contact number,i am looking for a broker

There is a fsb licensed broker in Sandton ,they run free seminars