Day trading platform in South Africa - Start Trading: Sign Up, Sign In

Day trading platform in South Africa

July 12, 2021

Start trading with day trading platform in South Africa, visit us to learn how to start trading online right now!

All content on name-of-the-site.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

What is day trading?

Cryptocurrency day trading is a common strategy for trading in which one buys and sells digital assets during the trading hours of one trading day, profiting from small price movements.

Below are the main theses of day trading:

  • Day trading mainly uses inefficient periods that lead to market and price fluctuations;. 
  • Technical analysis is the main tool for the action trader, although the main points can be determined by the overall market picture: for example, day traders often rely on news;. 
  • Volatility and trading volume are the friends of the day trader in digital assets.

If a day trader makes four or more day trades in an alternating five-day business period, the account will immediately be flagged as a day trading account. Certain restrictions will then apply based on the equity account. (The equity account is the amount of funds that would have existed if each position in the account had been closed. This is also known as liquidation value).

A pattern day trader is someone who trades the same currency four or more times in a day (sells and buys assets).

As a trading pattern, we can distinguish several basic ones that traders use most often:

  Price Channels

Price channels are built by creating two rising, falling or horizontal parallel lines that connect a series of highs and lows. These are areas of support (lower) and resistance (higher) and prices tend to fluctuate between them. Most traders buy at the bottom and sell at the top, while breakouts or breakdowns can be significant movements.

Rising and Falling Triangles

Upward and downward triangles are formed with one horizontal trendline connecting the highs or lows and a second sloping trendline connecting the rising highs or falling lows. The resulting right triangle leads to a decision point where price tends to break or break from the horizontal line in the direction of the inclined line.

 Head and Shoulders

The "Head and Shoulders" is a somewhat more complicated chart pattern characterized by a temporary high or low, followed by an even larger movement higher or lower, and then a third movement higher or lower, equal to the first movement. This pattern resembles a head with two shoulders turned either upside down (bearish) or upside down (bullish).

  Double top and bottom

Double tops and bottoms are exactly what they look like: a series of two highs or lows that are about equal. A double bottom is considered a bullish signal and a double top is considered a bearish signal. There are also triple tops and bottoms and single tops and bottoms, but double tops and bottoms are the most common.

Rising and Falling Wedges

Rising and falling wedges are similar to ascending and descending triangles, except that the top and bottom lines slope in the same direction (but still converge). Unlike an uptrend and downtrend triangle, an uptrend and downtrend wedge are reversal patterns. An ascending wedge is a bearish signal and a descending wedge is a bullish signal.

What is a day trading platform?

Trading platforms - are programs that provide access to financial markets and allow you to make transactions online.

In order to trade on such platforms, you need to find a reliable online broker.

A cryptocurrency broker is a financial intermediary that helps you make digital currency trades in financial markets and charges a commission for its services.

Trading at the exchange requires a lot of knowledge and skills that a beginner does not possess. A brokerage company is ready to accompany a trader at all stages of trading - to assist in opening accounts, placing buy and sell orders, finding suitable counterparties.

Traditionally, in the brokerage companies traders gather in the room, which is called trading room or front office. Today, open trading is gradually being replaced by electronic trading.

An electronic trading platform is a computer system that can be used to place orders (buy/sell) of financial products.

Such platforms allow users to use electronic trading from anywhere, as opposed to traditional room and line based trading.

Electronic trading platforms typically broadcast real-time market prices at which users can trade, and can provide additional trading tools such as charting packages, news feeds and account management features. Some platforms have been specifically designed to give individuals access to financial markets that previously might have been available only to specialized trading companies. They can also be designed to automatically trade certain strategies based on technical analysis or for high-frequency trading.

Electronic trading platforms are usually mobile-friendly and available for Windows, iOS and Android.

Client graphical user interface of electronic trading platforms can be used to place various orders or trades for investors and traders.

It is known that there are a large number of cryptocurrency exchanges for virtual money on the Internet today. Therefore, some novice users who are just beginning to master the interesting world of blockchain face many difficulties. To avoid them, it is necessary to learn a few simple rules that will help not to make a mistake when choosing a trading platform.

In order to conduct successful operations, manage and execute market positions, it is necessary to pay special attention to some factors:

  1.          Daily trading volume. This indicator is among the most important in terms of the cryptocurrency exchange, as it shows users the level of its activity. In addition, it helps to determine how promising a particular digital currency is.
  2.          Transfers and withdrawals. Before registering at the site, you need to read the terms of deposit/withdrawal, as well as find out what payment instruments are supported by this service. Large commissions will not allow you to make operations profitable. This also applies to the mining of digital money.
  3.         A wide range of cryptocurrency pairs and the ability to track quotes in real time. Some trading platforms work only with popular electronic money.
  4.          Ability to monitor rates and trading accounts. As a rule, experienced investors create accounts using several platforms at once. This helps not only in finding the best buy/sell conditions, but also gives a chance to earn through arbitrage.
  5.          A wide range of charting tools that allow you to make a thorough technical analysis beforehand.

Investors and traders use trading platforms to place trades and monitor trading accounts through financial intermediaries. Often trading platforms have other features such as real-time quotes, charting tools, news feeds and even top-notch research. Platforms can also be specifically tailored to specific markets.

Platforms for online stock trading 

ROX

The trading platform of Finam's subsidiary Just2trade. Registered in Cyprus. Choice of instruments and platforms on Western markets. NYSE (including ARCA), CBOE etc. Partner of NASDAQ.

TAKION

The platform was originally designed for professional traders. The strong advantages of the terminal are high speed of data processing and access to LevelII. A securities basket trading mode is provided.

FUSION

For mid-level traders. Works on weak Internet connection. Filters are available.

TWS

Free demo account. The program itself is paid. News, portfolio management. Available for the stock market.

What trading platforms are suitable for online Forex trading

Libertex

It provides access to exchanges in just a minute. The user-friendly interface of this Forex trading platform is packed with the latest high-tech features - selection of assets for different types of transactions, building a profitable portfolio, the ability to monitor the market from a cell phone, many additional tools for recognizing graphical shapes and more than 45 types of technical indicators.

Metatrader 4 (based on BMFN MT4 and IFX Trader) and its new version Metatrader 5

This free stock trading platform is easy to install on your computer or cell phone.

It has a lot of advantages:

·         Allows you to automate trading - and the robot can be created and tested directly on the platform in online mode.

·         Transactions are automatically executed after that, thereby reducing unpleasant surprises to a minimum. The service is multifunctional, giving you access to hundreds of different instruments (including gold, silver, diamonds, and oil) and 54 currency pairs. 

·         There is a mobile app for Android or iOS.

·        You can trade in the Non Dealing Desk system without the intermediary of a dealer, i.e. directly.

UniTrader

The simplest trading platform which provides information in 17 languages and allows you to trade 6 days a week. Even from a cell phone.

Trailing stop function helps to control risks even when the computer is turned off

ZuluTrade

This is the best trading platform - they call it a lazy man's paradise. Here you can find more than 1,500 signals from the best traders in the world. All a beginner has to do is to choose an experienced trader in the rating and repeat everything he does.

Platforms for online options trading

ETF (Exchange Traded Funds) are foreign exchange traded investment funds or, in other words, when one invests in all of the securities listed on the exchange through a brokerage account.

In addition to securities, commodities can also be traded. For this purpose, there are separate trading platforms or universal ones. For example, the IQ Option platform combines platforms for trading various assets, whether they are ETFs or cryptocurrencies.

What are cryptocurrency trading platforms?

A cryptocurrency trading platform allows an investor to participate in cryptocurrency trading. You can buy and sell these cryptocurrencies by opening an account and making transactions. When you know which cryptocurrency you want to trade, you transfer the information to the trading platform, and it makes it much easier for you to trade. 

An investor (trader) can approach cryptocurrency trading in two ways. The first is to buy the digital currency in its original form. Since cryptocurrency is completely digital, you will keep it in your cryptocurrency wallet. The other option is to trade using CFDs, which allows you to open a long or short position on the cryptocurrency of your choice without going into possession. 

What is online stock indices trading?

A stock index represents the leading stocks on a particular exchange. For example, the FTSE 100 index represents the top 100 companies traded on the London Stock Exchange. Other stock indexes include Dow Jones and S&P (U.S.), DAX and CAC (Europe), and Hang Seng and Nikkei (Asia-Pacific).

Indices are the best way to gauge the stock market performance of an industry, sector or entire country. If, on average, the stock prices of the companies making up the index go up, the index will go up with them. And if they are falling, it will fall as well.

Indices cannot be traded directly because they are representations of the total price of a stock, not products in their own right. Instead, investors trade indices with derivatives, such as CFDs - stock indices are the most popular form of CFD trading.

How to start use day trading platform in South Africa

For those experienced in trading of some kind, taking a risk on cryptocurrencies will only mean adding one more asset to your portfolio. Beginners, on the other hand, will probably need a little more help. With that in mind, below is a step-by-step guide on how to get started on a cryptocurrency trading site today. 

1. Choose Your Trading Platform

When you have hundreds of platforms to choose from, it becomes increasingly difficult to determine which broker is right for you. First, you need to figure out what features you are looking for and which site best suits your interests. Regardless of your trading style, you need to choose a regulated website and one that offers competitive fees and affordable customer support. 

We will give you an example on signing up for the IQ Option platform.

2. Register for online trading on the platform 

To begin the trading process, the first thing you must do is open an account on the relevant website. (GB)

Generally, you need to provide your personal information, including your full name, address, nationality and contact information. 

Now that you have successfully completed registration, make a demo account on the platform.

On the current platform, the amount for practice trading is $10,000. Before opening a real account, it is recommended to train intensively for some time on demo money. 

Successful registration and demo account on IQ Option platform
Successful registration and demo account on IQ Option platform

Successful registration and demo account on IQ Option platform

As it is shown on the image above, you can switch between your demo and real accounts at any moment. 

After you switched your account to the real one, you need to replenish your account for further online trading, using any of the available options:

Account replenishment on IQ Option platform
Account replenishment on IQ Option platform