Trading Myths That Hold Back African Traders
Tafara Tsoka
Chief Executive Officer: Zion Venture Partners
August 5, 2025
Source: Tafara Tsoka via LinkedIn
Despite the rapid rise of trading across Africa, too many potential traders still sit on the sidelines — not because they lack access or ability, but because they’ve been held back by myths and misconceptions.
At QuickTrade, we engage with thousands of new and aspiring traders every month. And across countries and communities, we see the same limiting beliefs over and over again — beliefs that stop people from ever taking the first step.
Let’s break them down and clear the path.
Myth 1: “You need to be rich to trade.”
Reality: You need to be consistent, not rich. Thanks to mobile-first platforms like QuickTrade, you can now start trading global markets with as little as R500 or less. You don’t need thousands to start — you need a plan, discipline, and the right tools.
Myth 2: “Trading is gambling.”
Reality: Trading without education or risk management is gambling. But that’s not what we promote. With proper training, stop-loss strategies, leverage control, and market understanding, trading becomes a strategic activity, not a coin toss.
Myth 3: “Only people in cities or with finance degrees can succeed.”
Reality: Some of our most consistent traders come from townships, villages, and non-financial backgrounds.
We’ve seen:
- Teachers become part-time traders
- Truck drivers trade forex during off hours
- Housewives learn to trade global indices It’s not about geography — it’s about access and mindset.
Myth 4: “All trading platforms are scams.”
Reality: Many unregulated platforms are, yes. But QuickTrade is FSCA-licensed (FSP 45262) and fully compliant with South African law. Always check the licence. Always read the disclosure. If there’s no FSP number – walk away.
Myth 5: “You have to win every trade.”
Reality: Even professional traders lose – frequently. The goal isn’t perfection. It’s profitability over time. A solid risk-reward strategy and emotional discipline matter more than any one trade.
How QuickTrade Helps Bust These Myths
At QuickTrade, we:
- Lower barriers with low minimum deposits
- Prioritise trader education with Stock Market College
- Operate under strict FSCA compliance
- Offer real-time support
- Help traders develop realistic, sustainable strategies
We’re not in the business of false promises. We’re in the business of helping people take control of their financial future – one informed trade at a time.
Don’t let a myth keep you stuck.
Join thousands of traders across Africa who are rewriting the rules and taking control of their financial journey.
Get started here: quicktrade.world/learn
QuickTrade is an authorised Financial Services Provider (FSP No. 45262). This article is for educational and informational purposes only and does not constitute financial advice. Trading involves risk and is not suitable for all investors.