The 2023 Future Forex Report is now available for download and provides valuable insight into the state of forex in South Africa.
The survey, which was completed by over 250 companies across a broad number of industries, represents a holistic view of the local forex sector.
Interesting findings from the 2023 Future Forex Report include the following:
- 75% of respondents didn’t know how they are charged for each transaction.
This trend existed across all respondents – no matter whether they used a dedicated forex provider or a bank for their trading activities.
- 34% of respondents didn’t know what the exchange rate margin is.
The exchange rate margin is an important factor when determining the cost of each transaction.
- The biggest pain point in forex is price.
22% of respondents chose this option, and this indicates a need for improved pricing within the forex industry.
- Only 32% of respondents trade through a dedicated forex provider.
The remaining respondents trade through banks instead.
Download the report
The 2023 Future Forex Report is a must-read for South African businesses involved with forex in any capacity.