After recording a 925% surge in trading volumes across Africa in 2020, Infinox, a CFD and FX broker, has expanded into South Africa.
Dany Mawas, regional director at Infinox, says online trading is continuing to increase in popularity as a result of the pandemic and people seeking additional and convenient ways to supplement their incomes. “Combined with the rise of the Fourth Industrial Revolution and an uptick of digitally savvy millennials in South Africa, more people are seeing the potential that online trading offers.”
He points out that events such as Covid-19 have also prompted people to stay more up-to-date with current news. “People are more clued-up when it comes to knowing what is happening and what could impact their trading.
“At Infinox, we have a strong drive to bridge the knowledge and accessibility gaps between bankers in major global financial hubs and the everyday person on their mobile device,” adds Mawas. “It is for this reason that we recently launched our IX Social app.”
The app allows traders to access key financial markets while sharing knowledge, trades and experiences with like-minded people. Users can also auto-copy top trading strategies, with options to source the most followed, best live trades, most copied trades, and the most profitable trades – all instrumental in building trading acumen.
Headquartered in London with a presence in 15 countries, Infinox, is regulated by South Africa’s Financial Sector Conduct Authority (FSCA), and has committed to offering its clients on-the-ground support.
“This is important as each market is unique. Local representation and support allows for local market knowledge, insights and expertise,” explains Mawas. “While our expansion into South Africa also allows for job creation, our commitment of being a real organisation run by real people with on-the-ground presence lends to our principle of employee retention and growth. Our intention as an employer is to positively impact the lives of our employees across all regions by seeing them succeed and changing their lives for the better.”
While Infinox is a large firm, it continues to act as a small organisation. The company regards the interactive experience with local representatives as a crucial element in adding a sense of trust, comfort, personal touch and support for its clients.
Mawas adds that it is essential that traders do their due diligence when selecting a broker. “They must make sure that the broker is regulated, and that they have a physical presence instead of merely being an online entity.”
To assist beginner traders in getting started, Mawas says that while there are several game plans a trader can adopt, the old adage of ‘over-analysis leads to paralysis’ couldn’t be more true.
“When developing a strategy it is vital to spend time researching and learning what works best. The more you perfect managing your risk, the better you become. One word of advice would be to start simple and keep it simple,” concludes Mawas.