The financial markets now offer various opportunities for traders, and African investors are exploring global assets such as gold, stocks, forex, and commodities.
Bybit, a leading cryptocurrency and derivatives exchange, has expanded its offerings to include traditional financial markets (TradFi) under Bybit TradFi, formerly Bybit Gold & FX.
This platform allows traders to access gold, forex pairs, commodities, indices, and stock CFDs using USDT as margin. For African traders looking to branch out beyond crypto or leverage traditional markets, Bybit TradFi provides a seamless, all-in-one solution.
Techpression breaks down how you, as an African trader, can take advantage of this opportunity.
Why African traders should consider Bybit TradFi
The African financial system is evolving. More traders are exploring new asset classes beyond crypto in Nigeria, South Africa, Kenya, and Ghana.
But access to traditional financial markets like US stocks or gold has been limited by barriers such as complex onboarding processes with traditional brokers, lack of access to foreign currency, regulatory and banking restrictions, and high transaction costs.
Bybit TradFi offers a crypto-native solution to eliminate these hurdles. Using USDT as margin, you can trade gold, forex pairs, tech stocks, commodities, and global indices.
That means no need to convert to USD or interact with banks. It’s a simple, crypto-first gateway to global investing.
What can you trade on Bybit TradFi?
Bybit TradFi allows you to trade various markets seamlessly from your smartphone without needing third-party apps or fiat accounts.
You can access 78 U.S. Stock CFDs, including major names like Apple (AAPL), Tesla (TSLA), NVIDIA (NVDA), Meta (META), Amazon (AMZN), Microsoft (MSFT), and Alphabet (GOOG).
The platform also offers forex pairs such as EURUSD, NZDUSD, and GBPJPY, with leverage of up to 500x.
Meanwhile, metals like gold are also available through pairs such as XAUUSD+ and XAUAUD+, while commodities include crude oil and natural gas.
Additionally, you can trade global indices like the NASDAQ 100, S&P 500, and DAX all within a single, easy-to-use mobile interface.
Key features of Bybit TradFi
Trade with USDT: All instruments use USDT as margin, removing the friction of currency conversion or funding external brokerage accounts.
High Leverage: Get up to 500x leverage on forex pairs and 5x leverage on stock CFDs. Ideal for experienced traders looking to maximise capital efficiency.
All-in-One Platform: Trade crypto, stocks, forex, gold, and more from one unified account on the app. No need to juggle multiple apps or platforms.
Advanced Trading Tools: Utilise built-in technical indicators, live charts, and automated trading features traditionally found only on MT5 now within the app.
Seamless Experience: Easily move funds between your crypto and TradFi accounts. Monitor and manage positions across asset classes in real-time.
How to start trading on Bybit TradFi
1. Get the latest Bybit App
Ensure you’ve updated your Bybit App to version 4.67.0 or later. This is where the new TradFi functionality lives.
2. Complete KYC
Complete your Know Your Customer (KYC) verification, which includes uploading your ID and verifying your identity to comply with global regulations and unlock TradFi features.
3. Apply for a TradFi Account
In the app:
Tap the “Trade” tab at the bottom
Tap the “TradFi” option
Tap “Apply” and agree to the terms and conditions
This sets up your dedicated TradFi account.
4. Fund your TradFi Wallet
Transfer USDT from your regular Bybit Funding Account to your new TradFi account. This will be your collateral for all trades.
5. Choose a market and start trading
Depending on your interests, you can now choose from various asset categories in the “Market” tab:
Forex: Tap on “Forex” to see available currency pairs (e.g., NZDUSD+).
Stocks: Go to the “Stocks” tab to explore US stock CFDs like AAPL and TSLA.
Gold: Tap on “Metals” to trade gold pairs such as XAUUSD+.
Indices or Commodities: Browse other asset tabs for crude oil, NASDAQ 100, and more.
6. Place a trade
Once inside a market:
Tap Buy to go long, or Sell to short the asset
Adjust your order volume, set stop-loss and take-profit levels
Confirm the order and monitor the position in real-time
In conclusion, Bybit TradFi is tailored for traders in underserved regions, a reality for many across Africa, who seek convenient access to global financial markets directly from their smartphones.
With this platform, African traders now have the tools and opportunities once limited to major financial centers like New York and London, empowering them to participate fully in the global economy.