We offer specialized exchange control services through our commercial bank, such as receiving export revenues. A consultant will contact you within 48 hours. No, Capitec Bank does not allow Forex trading, it is currently not possible to process Forex payments directly from your Global One account. The best way to fund your Capitec account is to use payment gateways such as Skrill or Payoneer.
Capitec Bank is one of the largest retail banks in South Africa that allows you to send and receive money. Unfortunately, Capitec does not support international transfers, so if you want to fund your forex account when using this method, you must select a Forex provider that has a bank account located in South Africa. Fortunately, some of South Africa's top forex and CFD brokers can work with Capitec Bank. This means that you can use your Capitec Bank funds to deposit and withdraw money from your favorite broker.
Here are a couple of popular forex brokers in South Africa that use and accept Capitec Bank. As a South African trader, you can leverage 49 currency pairs. ZAR has only 4 crosses with USDZAR, EURZAR, GBPZAR and ZARJPY. Other traded currency pairs are 15 major currency pairs and 34 minor pairs.
Over 500 offer 70 major and minor currency pairs. You can trade more than 60 currency pairs with ICMarkets, the most traded currencies being EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP. Depositing funds to international forex trading accounts via the Internet with your Global One card is not permitted in terms of the Exchange Control Rules and any income received from such accounts will be subject to approval by the SARB Financial Surveillance department. Funding of forex trading accounts can only be done in terms of the Reserve Bank of South Africa's Foreign Exchange Manual.
You are not allowed to deposit funds into international forex trading accounts via the Internet, directly or through an intermediary, with your Global One card.