Daniel Kibel, Co-Founder of Africa’s largest trading broker, CMTrading, touches on his journey in trading and explains why the South African market is filled with possibility.
“Sometimes life happens unexpectedly. I was sitting in a bar one day, having recently lost my job in 2001 and I happened to get talking to someone who mentioned forex trading to me. I’d never heard of it and had no idea how it worked. I started reading up on it and found it absolutely fascinating, because what happens in the markets affects us directly in our everyday lives, no matter who we are or what we do.
“Having a business background, I made my way through companies in various positions, as Head of Business Development, Consultant and eventually CEO at a Forex firm. I then decided it was time to set up CMTrading with the South African market in mind.
“My business partner and I had worked in various companies, and we felt that what the market was offering South African traders just wasn’t enough. It’s a market with so much potential and a true entrepreneurial spirit. Having been exposed to markets in Africa, I had a good understanding of the environment and had become very familiar with the great people in South Africa in particular. They deserved better – more opportunities and more scope to compete in the trading environment. That is the reason we created CMTrading.
“CMTrading now primarily represents traders in sub-Saharan Africa. Possibly because South Africa as we know it is a fairly new country, everyone wants to learn and be part of something – from your taxi driver to your CEO. The positivity and entrepreneurial energy is wonderful. And of course, it’s a beautiful country.
“COVID affected the markets in an unprecedented way – and no less in South Africa than anywhere else in the world. There was a big boom in online trading during lockdown. By and large, because times have been tough, people are looking to make extra money. Besides that, many were just looking for something to do to kill time while they were stuck at home.
“There was a big influx of traders, and it was an amazing time to trade because of the volatility of the markets. Higher risk always means higher return, so we had many people making lifechanging money. We’ve had an incredible time watching the markets and seeing what’s happened because of COVID.
“Just looking at the massive fluctuations in the Rand dollar exchange rate, for example, there is so much movement and unpredictability. Cryptocurrency and commodities are seeing major movement too and CFD trading (Contract for Difference) is giving more people entry into the markets without having to spend a fortune on shares.
“Trading is about a combination of talent, education and luck. But education is the best place to start because, unless you’re incredibly lucky, nothing is free. You have to work hard to understand the markets so that you know what you’re getting yourself into.
“For any trader starting out, the best you can do is know the basics. You can do a course, which really helps, or just educate yourself online. But start small. Don’t overextend yourself and expect to make millions overnight. You must learn to drive before you can hit the road. It’s the same thing in trading. When you’re ready, the best you can do is jump in, though. Get in with real money so that you can get a feel for the market and the real buzz of putting yourself out there. There’s a whole world of possibility out there. You just need to find it”.
For more information on CMTrading, visit their official website at www.cmtrading.com or call +27105008026, and one of their friendly staff will assist you.
CMTrading is the brand name of Global Capital Markets Trading Ltd (A Seychelles company.