SA tops global ranking in forex trading interest

Source: Pexels

The research assessed various factors, including average global salaries, the number of forex jobs, average broadband speeds per country, and the extent of trading laws' restrictiveness to identify the best countries for forex traders.

Following closely behind is the UAE, with 51,400 annual searches that are equivalent to 544 searches per 100,000 of the population. Singapore had the third highest interest in forex trading, with 29,300 yearly searches, equivalent to 490 searches per 100,000 people.

Singapore offers the most forex trading jobs in the world, with 12.89 jobs per 100,000 people.New York is the forex capital of the US.

The research suggests that forex traders in New York can earn upwards of £104,000 a year on average.

Further Information about South Africa from the study reveals that:

• South Africa has the eighth highest rate of forex jobs available, with 135 jobs equating to 0.23 jobs per 100,000 people.
• The average salary for forex traders in South Africa is $13,779, ranking 17th out of the countries included in the study.
• The inflation rate in South Africa is 6.8, the seventh highest in the study.
• The median download speed in South Africa is 40 Mbps, the fourth slowest in the study.

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