Entrepreneur and Forex trader offers advice for money-strapped public

Forex trading has taken an ordinary man to the lap of luxury.

Born into a middle-class family in Tembisa and raised in Midrand, Simz D’mandla was not well off and was therefore forced to become independent at a young age.

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“I started my first business at the age of seven years old. I found myself printing and selling Dragonball Z pictures because the kids around me liked it. I then sold shoes and jeans and started multiple other ventures including being a barber,” D’mandla explained.

Now, years later, he has found success through Forex trading, but still makes time to pursue other career objectives including entrepreneurship, working as a forex analyst and active trader, wealth coach, financial adviser, motivational speaker, business strategist and philanthropist.

He hopes to give back to the community through the operation of African Millionaires Den – a platform for aspiring entrepreneurs to pitch their ideas to a panel of successful Forex traders and gain access to seed capital to start or expand their business.

“It has been established for the purpose of giving back to the economy. We believe that [the public] don’t all need to be making millions, because even an extra R1 000 a month can make a difference.

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“We further educate and assist people by showing them how they can use the profits they make from the financial markets to invest in other income generating avenues, and assets, such as property and business, which ultimately creates a never-ending wealth generating cycle.”

In addition to educating people about trading, D’mandla offers these tips to the South African public in the current economy:

• Move your money away from the rand. Forex traders make profits in dollars and pounds which helps in times when the rand weakens.
• Make money now – as soon as possible – it will be harder to do so in the coming months as the economy slows down.
• During recessions, the rich get richer because they have positioned themselves correctly. Let professionals show you how to do it before it’s too late.

Edited by Stacey Woensdregt

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