Sharenet CFDs Forex Broker

Sharenet CFDs Forex Broker - Complete Information Guide

1. Broker Overview

　　Sharenet, officially known as Sharenet 66 (Pty) Ltd, was established in 1988 and is headquartered in Cape Town, South Africa. The company operates as a private entity and serves a diverse clientele, primarily focusing on retail traders who wish to access the African financial markets. Over the years, Sharenet has evolved significantly, marking its presence as one of the largest brokers in Africa. The company has achieved several milestones, including the launch of its proprietary trading platform and the expansion of its product offerings.

　　Sharenet is part of a larger financial group that includes Sharenet Securities and Sharenet Wealth, allowing it to offer a comprehensive suite of trading and investment services. The business model revolves around retail forex and CFD trading, providing clients with access to various asset classes, including currency pairs, indices, commodities, and more. This makes Sharenet CFDs broker a suitable choice for traders looking to explore opportunities within the African markets.

2. Regulation and Compliance Information

　　Sharenet is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, holding the license number FSP 41688. This regulation ensures that the broker adheres to strict compliance standards, safeguarding client funds and maintaining market integrity. The FSCA oversees the activities of Sharenet, ensuring that it operates within the legal framework established for financial services in South Africa.

　　The company implements a policy of segregating client funds, ensuring that client capital is kept separate from the broker's operational funds. This practice enhances the security of client investments. Sharenet also complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring clients to provide identification and proof of residence when opening accounts. This commitment to compliance reinforces the credibility of Sharenet CFDs broker in the financial industry.

3. Trading Products and Services

　　Sharenet offers a wide array of trading products, catering to various trading preferences. The broker provides access to over 150 trading instruments, including:

• Currency Pairs: 41 major and minor currency pairs are available for trading.
• CFDs on Indices: Traders can access 94 indices, allowing them to speculate on market movements across different regions.
• Precious Metals: The broker offers trading in 5 types of metals, including gold and silver.
• Energy Products: Clients can trade in 1 energy product, typically crude oil.
• Bonds: Sharenet provides access to 2 types of bonds, enabling fixed-income trading.

　　Sharenet CFDs broker focuses on delivering a robust trading experience, with a variety of asset classes that reflect the dynamics of the African economy. The broker also offers managed portfolios, allowing clients to invest in pre-structured portfolios, which can be an attractive option for passive investors.

4. Trading Platform and Technology

　　Sharenet provides its clients with a proprietary trading platform known as My Sharenet, which is accessible via desktop, mobile, and web applications. The platform is designed to offer a user-friendly experience, enabling traders to execute orders quickly and efficiently.

　　The broker supports MetaTrader 4 (MT4), a widely recognized platform in the trading community, known for its advanced charting capabilities and automated trading features. This dual-platform approach allows traders to choose the interface that best suits their trading style.

　　Sharenet employs a market-making execution model, ensuring that trades are executed promptly. The broker's technology infrastructure is robust, with servers located strategically to minimize latency and enhance trading speed. Additionally, Sharenet offers API access for automated trading, enabling clients to develop and implement their trading strategies seamlessly.

5. Account Types and Trading Conditions

　　Sharenet offers a standard trading account with the following conditions:

• Minimum Deposit: The minimum initial deposit is $3,500.
• Spreads: The broker provides competitive spreads starting from 1 pip for major currency pairs.
• Commissions: There are no additional commissions for deposits or withdrawals, making it cost-effective for traders.
• Leverage: Sharenet offers leverage of up to 1:1, which is relatively conservative compared to other brokers.

　　For clients interested in testing the platform, Sharenet provides a demo account option, though it requires contacting the broker's representatives to set up. This allows potential clients to familiarize themselves with the trading environment before committing real funds.

6. Fund Management

　　Sharenet supports several deposit methods, including bank transfers, which are the primary means of funding accounts. The minimum deposit requirement varies based on the account type, with a recommended trading amount of $15,000 for optimal trading conditions.

• Deposit Processing Time: Deposits are typically processed within 1-3 business days.
• Withdrawal Methods: Clients can request withdrawals via bank transfer, with processing times similar to deposits.
• Withdrawal Fees: Sharenet does not charge fees for withdrawals, making it an appealing option for traders.

　　The broker emphasizes transparency in its financial transactions, ensuring that clients are well-informed about their funding options and any associated requirements.

7. Customer Support and Educational Resources

　　Customer support at Sharenet is available 24/7, providing assistance through various channels, including phone, email, and a dedicated forum known as Power Chat. While support is primarily in English, the broker aims to cater to a diverse clientele.

　　Sharenet offers a range of educational resources, including:

• Webinars: Regular online sessions covering various trading topics.
• Tutorials and E-books: Comprehensive materials to help traders enhance their knowledge.
• Market Analysis Services: Daily updates and research reports to keep clients informed about market trends.

　　These resources are designed to empower traders, helping them make informed decisions in their trading activities.

8. Regional Coverage and Restrictions

　　Sharenet primarily serves clients in South Africa and offers access to the Johannesburg Stock Exchange (JSE). The broker's services are tailored to meet the needs of local traders, providing them with valuable insights into the African markets.

　　However, Sharenet does not accept clients from certain regions, including Singapore, due to regulatory restrictions. This focus on specific markets allows the broker to specialize in offering tailored services to its clients, enhancing their trading experience.

　　In conclusion, Sharenet CFDs broker presents itself as a reliable option for traders looking to explore opportunities within the African financial landscape. With a solid regulatory framework, diverse trading products, and a commitment to customer service, Sharenet aims to provide a comprehensive trading experience for its clients.