Account Currency – ZAR or USD
Arguably the most asked question; should I trade in ZAR or USD? What are the benefits, pros, cons and minimum trading volume.
BlackStone Futures offer both South African Rand (R/ZAR) and United States Dollar ($/USD) as account base currency. Both offer a wide range of trading assets; Forex. Stocks, Commodities, Indices and Cryptocurrency.
Minimum Lot size/Volume
- ZAR: 0.01 = R0.01 ($0.0007)
- USD: 0.01 = $0.10 (R1,14)
As clearly indicated, ZAR based accounts offer a significantly lower risk per point when compared to the USD alternative.
Leverage and margin requirement is are equal for both account types.
One major benefit with a ZAR based account is the absence of exchange fluctuation and risk you run into with a Dollar account.
A USD account should only be considered if you are an experienced trader with a high deposit value looking to take advantage of positive currency exchange when depositing and withdrawing. The time between deposits and withdrawals also play a key factor.
Small deposits, low risk per point, frequent withdrawals/deposits without exchange risk are the key benefits to why you should trade in ZAR. Do not have the misconception that USD is always the superior choice due to being a “stronger” currency.