Fxview, a leading Forex and CFD industry player operating under the Finvasia Group financial conglomerate, shakes up the financial scene in South Africa with its innovative product suite.
In a strategic initiative to expand its outreach in the African region, the multi-asset brokerage continues its pursuit of excellence in South Africa’s ever-evolving financial landscape.
South Africa, a growing financial hub
South Africa has emerged as a country with one of the most vibrant Forex and CFD trading communities. Recent data show that the trading population is relatively young, with the average age ranging between 25 and 44.
The majority of traders (72%) have made their first steps into global trading through Forex, and 40% see Forex trading as a means to achieve financial independence. Furthermore, 70% of traders in South Africa trade on a live account and 39% have been trading for 1 to 3 years.1
Some of the major drivers of the growing popularity of Forex trading in South Africa are the strong regulatory framework of the national regulator, the Financial Sector Conduct Authority (FSCA), and the country’s stable banking relationships with the world’s largest economies. This may attract numerous online brokers to the country, contributing to the rapid development and diversification of South Africa’s retail trading space.2
However, in terms of technology, statistically, the MT4 tops the list of preferred trading platforms in South Africa, with 85% of traders using it. The MT5 trails behind, with only 6% of users.3 These stats indicate that despite the expansion that the nation’s online trading sector has seen, there is plenty of room for innovation and improvement. As the country’s retail trading space is dominated by the youth, the demand for a more tech-driven trading environment and a more diverse instrument range is high.
Against this background, Fxview’s offering, which includes 500+ CFD instruments and 70+ Forex pairs, ticks all the boxes. Licensed and regulated by the Financial Sector Conduct Authority (FSCA), Fxview continues to attract an increasing number of traders with its versatile trading products and solutions.
The FSCA license cements the company’s position in the South African online trading space, enabling it to further expand its footprint in the region. Referring to Fxview’s endeavour, Managing Director Janis Anastassiou said:
“South Africa is one of our most vibrant markets. Securing the FSCA license earlier this year was a natural step forward. This license allows us to strengthen our position in the country and the African region, empowering us to further expand our outreach and offer high-quality financial services to a broader audience.”
Rising above the crowd
The broker meets the demands of both advanced and novice traders who can choose from MT4, MT5 and the more innovative ActTrader platforms, which provide a great choice of trading tools and a smooth user experience.
Traders looking for a superior trading experience can explore ActTrader. Allowing easy customisation by adding or hiding different elements of the user interface, the platform equips traders with a powerful trading arsenal that enables them to navigate multiple time frames and markets with greater ease.
As a leading market player with a deep understanding of the South African financial services landscape and regulatory regime, Fxview facilitates decision-making by allowing traders to choose the platform that best suits their needs and level of experience. The platform comparison available on the broker’s site offers a comprehensive overview of the capabilities and recommended CFD contract size for each asset class, number of default indicators, analytical objects and more.
In addition to the platform diversity and variety of instruments, spanning popular major, minor and exotic Forex pairs and CFDs on stocks, indices, commodities, and cryptocurrencies (for global clients), Fxview distinguishes itself as an innovative market leader focused on technology enablement. Some of the core elements of its offering for South African traders include:
A technology powerhouse. In line with Finvasia’s vision to provide a transparent trading environment, Fxview prioritises decision support through technology enablement. The diverse array of tools includes a Trader’s Tool Box, an Economic Calendar, Indicator Packages, Trading Calculators, enabling traders to tally their options before opening a position, API Trading, and a VPS for high-speed execution.
Of these, the Trader’s Tool Box is a comprehensive bundle of tools, such as an Alarm Manager, Correlation Matrix, Correlation Trader and many other such solutions which enable traders to either automate their trading or tally their options based on real-time data.
Also, the Indicator Packages stand out as a selection of premium tools, including Mini Chart, Pivot Points, Freehand Drawing, Bar Changer and many more tools that more advanced traders will find particularly handy when running EAs, backtesting their strategies, and monitoring price action.
“Technology enablement is one of our mandates”, said Tajinder Virk, Finvasia Group CEO. “We strive to achieve that with all our brands because we believe traders should be given the ability to boost their trading experience and analyse market opportunities based on comprehensive, real-time data. We are glad to empower South African traders through technology,” he continued.
A robust ECN environment
At the basis of Fxview’s robust trading technology is its solid ECN environment, which contributes to its razor-thin spreads and best bid-ask pricing available across all asset classes. Thanks to its state-of-the-art technology, Fxview facilitates access to deep aggregated liquidity and low-latency execution. In turn, this promotes cost-effective portfolio diversification, fostering trust in financial services.
Furthermore, Fxview distinguishes itself as a top-tier liquidity provider and prime broker under Finvasia Group, with an investment banking license from the FSC Mauritius. This allowed it to expand its liquidity pools and launch its investment dealer service, among others.
Committed to pushing the boundaries of innovation in South Africa, Fxview has an active presence in the region. This year, the broker stood out as the Registration Sponsor of the prestigious Finance Magnates Africa Summit (FMAS:23) and was crowned “Best Multi-Asset Broker Africa” at the Financial Achievements in Markets Excellency (FAME) Awards. These efforts are a testament to the financial firm’s commitment to excellence, placing it on the radar of the South African fintech elite.
References
1 A.Nangara (23 March 2023). The Exchange Africa. Current state of Online Forex Trading in Africa
2 BusinessLive (29 Oct. 2019). Forex trading in SA: what investors need to know
3 A.Nangara (23 March 2023). The Exchange Africa. Current state of Online Forex Trading in Africa