South Africa's financial market is said to be the most developed & organized in Africa led by big Banks like: Standard Bank, ABSA, FNB, FirstRand, Nedbank & local Stock Exchange which is the largest stock market in Africa with daily trading volume of R23.7 Billion.
SA's local financial ecosystem is often compared to that of developed economies like: US, UK, Australia. On JSE, investors can trade equities of African Companies, Commodities, Invest in futures & options of major currencies of World & African Continent. South African Rand is the most traded currency in Africa in terms of daily volume & it is also among 20 most traded currencies in the world. ZAR is traded more outside South Africa than in local foreign exchange market with offshore trading activity touching approximately USD60 billion in 2017 while domestic volume was around $21.4 Billion USD during the same period.
It is estimated that, there are about 1,90,000 forex Investors in South Africa who regularly trade or invest in Forex & related instruments. Average monthly deposits by South African traders is largest in Africa with $740 USD/trader as per Trading Analytics Company CPattern's 2019 data. According to Rahul from ForexBrokers.co.za, "South Africa is a diverse nation with high net worth individuals, educated & savvy investors trading in different instruments including Stocks/Equities, Forex, Futures, Options, Bonds, Commodities etc."
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