Reliable Forex brokers in south Africa:
If you have been wondering if trading Forex in South Africa is legal or not, you have made a right stop here on this post. As much as our currency (ZAR/RAND) is not as popular on the Forex market and among (us) Forex traders but the number of Forex traders in South Africa has multiplied over the years. Forex trading is not just an activity that takes place only in the Uk, Canada and Usa, Forex market is vast and can be traded anywhere and in any part of the world, there is no physical location for the buying and selling that takes place in this trillion dollar market. There is one major precaution that we need to take before we start Forex trading, finding the right Forex broker, not just a broker but regulated and registered, preferably locally by our own FSB (Financial Services Board), I am sure we all need to be able to sleep well at night knowing who is responsible for our money, ooh well I sleep well knowing my Forex brokers are locally regulated. there is nothing wrong though with using internationally regulated Forex broker, it is an individual choice, if you are like me, then you know local is lekker.
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Who regulates Forex brokers in South Africa?
In South Africa, every financial institution has a regulatory body that they fall under, there is no exception with Forex brokers as well. Financial services board (FSB) which is not an independent body is there to monitor and ensure the smooth operations of Forex brokers in South Africa,making sure the monetary transactions in the Forex market are running smooth and can be done safely without fear of losing money due to dodgy Forex brokers. There is also Financial Advisory and Intermediary Services (FAIS) Which is there to secure overall activities of Forex brokers in South Africa. The two regulatory bodies are very strict and reliable. At the moment South Africa does not have lots of Forex brokers, there are few Forex brokers in South Africa, I personally have been with two Forex brokers since I started trading past few years, they are both FSB regulated. If you need a Forex broker in South Africa, feel free to register below between the two brokers that I personally use. They are both locally regulated by FSB, they are reliable and trusted, withdrawals are quick. Thank you for stopping by if you find this post informative please kindly share on your social media using social media share buttons below.
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