Alternative sources of income seem to be all the rage in our struggling economy. I say this because when we interviewed an online forex trader last year there was a lot of interest around the topic of online forex trading but unfortunately, it’s a topic we were learning at the same time as our readers… Later on, we stumbled upon a Udemy Forex course that was curated by a Zimbabwean and we felt that would be helpful to people starting out from the Zim context.
Most excitingly, there’s a Forex trading association being launched locally this weekend. Forex Trading Association of Zimbabwe aims to be Zim’s first registered association of online forex, commodity and future market traders and trainers in Zimbabwe. The association was founded towards the backend of 2018 and will now be getting officially launched on the 26th of January.
FOTRAZ estimates that there are over 8000 online forex traders in the country and with the number growing they feel there is need for an association that represents the interests of traders. FOTRAZ will have two chapters; one in Harare and the Headquarters which will be in Bulawayo.
What are the goals of the association?
According to one of the representatives of the association, they want to “enable a safe striving environment for traders in Zimbabwe”. Considering the high unemployment and need for alternative streams of income it does seem like forex trading is something worth looking into.
The association looks to reach this goal through the following:
To promote, support or oppose as may be considered desirable in the best interest of members, any proposed legislative or other measure which may affect those interests.
To develop a trading culture in Zimbabwe, making it an option to have an extra revenue stream.
To promote the development of a recognised trading course in our Zimbabwe learning institutions that recognizes our specific skill sets.
Where will the launch event be?
The launch itself will also be hosted in Bulawayo at the Theological College of Zimbabwe from 9 am to 11 am. Best of all there will be a training session for 250 people to get training on the day.