Modern traders use forex brokers. The broker acts as an intermediary that makes the purchase and sales of the actual currency. Usually brokers are large companies, but they may also be individuals. Brokers usually earn their income with commissions or costs generated by the volume of traded currencies, or from the spread (the difference between the purchase price and selling currency pairs).
You can check out forex brokers in south Africa at https://globex360.co.za/. If you are looking for a new broker, there are a number of things you need to make sure:
1.) Is the broker set? If you are looking for a broker, you need to ensure that the broker is registered with the commodity futures trading commission as a futures commission merchant, this will protect itself from any fraud.
2.) Open an account, look around online there are many forex brokers around most demo accounts, try a demo account to see if you are happy with the FOREX trading platform functionality.
3.) One way to test the ability of Forex brokers is to send an email and see how fast they respond and how they want to help. This must be a rough indication at the level of service that you can expect from this broker in the future.
4.) One important factor is costs, because the higher the cost basically the lower your profits from trading.