Although not fully regulated, Africa is growing in size on the map of FX/CFD brokers.
In the shadow of Europe and Australia, slowly but gradually Africa is expanding its position in the FX/CFD map of the world. While still poor and not regulated enough, it attracts more and more brokers and serves the growing number of new retail traders. Is Africa a land of growing opportunities for the industry?
In the western world, Africa has an unfair image for an underdeveloped region of the world, where most of the people live in villages, conducting simple activities to feed their families. This biased picture comes from old literature, movies and Safari trips. In reality, Africa is the fastest-growing continent. In 2019, the International Monetary Fund (IMF) revealed that while Africa was the world’s poorest continent it was also home to the five fastest growing economies that year.
While Africa is still poor, it has large overall potential. One of Africa’s biggest assets is a large population of successful hungry people. For example, Nigeria is one of the only seven countries in the world with a population of over 200 million people. It may soon overtake both Brazil and Pakistan in population rank, being the 5th most populous country in the world. Both Ethiopia and Egypt have populations of over 100 million, and they are ranked in the top 10 of the world.
Africa Is Expanding
It should not surprise you that Nigeria has become such an attractive place for the FX/CFD industry. If only a small percentage (1%) of the 200 million people can be converted into FX traders, that would equate to a market of roughly 2 million. Just for comparison, in the United States, there are 200,000 active FX traders, and there are around 100,000 CFD traders in the wealthy country of Germany.
In our opinion, at the moment, there are three extremely interesting countries in Africa from the perspective of the FX/CFD market: Kenya, Nigeria and South Africa, the most promising is Nigeria. We have already mentioned its large population, which is an asset. According to IMF the expected GDP per capita in 2021 will be 2,432. That is half the value for South Africa and a little more than Kenya.
“The Forex market in Africa has massive growth potential. The region offers excellent trading conditions, delivery of product and service Execution,” Charis Mountis, Chief Dealer at Exinity Group, told Finance Magnates.
To get the full article and the bigger picture on the future of FX/CFD industry in Africa, get our latest Quarterly Intelligence Report.
In the shadow of Europe and Australia, slowly but gradually Africa is expanding its position in the FX/CFD map of the world. While still poor and not regulated enough, it attracts more and more brokers and serves the growing number of new retail traders. Is Africa a land of growing opportunities for the industry?
In the western world, Africa has an unfair image for an underdeveloped region of the world, where most of the people live in villages, conducting simple activities to feed their families. This biased picture comes from old literature, movies and Safari trips. In reality, Africa is the fastest-growing continent. In 2019, the International Monetary Fund (IMF) revealed that while Africa was the world’s poorest continent it was also home to the five fastest growing economies that year.
While Africa is still poor, it has large overall potential. One of Africa’s biggest assets is a large population of successful hungry people. For example, Nigeria is one of the only seven countries in the world with a population of over 200 million people. It may soon overtake both Brazil and Pakistan in population rank, being the 5th most populous country in the world. Both Ethiopia and Egypt have populations of over 100 million, and they are ranked in the top 10 of the world.
Africa Is Expanding
It should not surprise you that Nigeria has become such an attractive place for the FX/CFD industry. If only a small percentage (1%) of the 200 million people can be converted into FX traders, that would equate to a market of roughly 2 million. Just for comparison, in the United States, there are 200,000 active FX traders, and there are around 100,000 CFD traders in the wealthy country of Germany.
In our opinion, at the moment, there are three extremely interesting countries in Africa from the perspective of the FX/CFD market: Kenya, Nigeria and South Africa, the most promising is Nigeria. We have already mentioned its large population, which is an asset. According to IMF the expected GDP per capita in 2021 will be 2,432. That is half the value for South Africa and a little more than Kenya.
“The Forex market in Africa has massive growth potential. The region offers excellent trading conditions, delivery of product and service Execution,” Charis Mountis, Chief Dealer at Exinity Group, told Finance Magnates.
To get the full article and the bigger picture on the future of FX/CFD industry in Africa, get our latest Quarterly Intelligence Report.
A graduate of the Warsaw School of Economics, Sylwester received an MA specializing in finance and banking. As Finance Magnates' research associate and STA certified analyst, he leaves no stone unturned. Sylwester is the previous minority partner of an NFA registered US forex broker, and since 2003, has participated in many forex projects.
Interactive Brokers Posts Strong April Metrics, Daily Average Revenue Trades Soar 33%
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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