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Eightcap Pty Ltd. Special Forexlive Offer:. Lot Sizes Micro Std Lot. ECN Accounts. Dukascopy Bank Special Forexlive Offer:. FxPro Special Forexlive Offer:. ActivTrades Special Forexlive Offer:. Lot Sizes Micro Mini. Open Account. HotForex Special Forexlive Offer: Not only does HotForex provide the best trading opportunities to make the forex industry more familiar to its clients but it offers also great bonus programs to optimize the trading experience with extra and additional trading benefits!
Brokereo Special Forexlive Offer:. Website forexbrokerinc. Country Marshall Islands. Regulation None. Established Maximum Leverage Clients Allowed Yes. Advertiser Disclosure. Affiliate Disclosure DailyForex.
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Back to Broker List. Most Visited Forex Broker Reviews. To give you the best possible experience, this site uses cookies. Currently, the FSCA requires all its members have a physical presence in the country and to provide continuous access to all transaction data to the FSCA. This will be enforced more keenly through the new ODP licensing. Forex trading is the largest and most liquid market in the world.
With this amount of money being traded online every day of the week, the forex market is wide open to scam artists. Forex brokers have been accused of running everything from pyramid schemes to Ponzi schemes.
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Believe us when we say, there have been many variants of these schemes that warrant the bad reputation. However, these crimes are being stamped out through more stringent regulations, both locally and overseas. The regulatory credentials should be clearly stated on its website and the company needs to be totally transparent on their membership status.
The best way to avoid falling victim of a forex broker scam is to trade over a secured platform which only regulated brokers can provide their clients. MetaTrader is the most popular trading platform in the world. Nine out of 10 forex brokers offer MT4 because it is easy to use, reliable and fully functional.
You can do this by reading broker reviews online or through the FSCA itself. Check whether there has been any legal action taken against the company. Check if there is a physical address for a local office for the broker. The FSCA requires a registered member to have a local presence which means having a permanent office in the country and at least one director of the company residing in South Africa.
Educate yourself on the forex trading market so you maintain full control of your money. Find out what forex scams are in the market, how legitimate forex trading works and which forex brokers are honest and reliable.
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The more you know about forex trading, the less likely the chances are of falling victim to a scam. The forex market is highly leverage and inherently high risk. More people lose money on the forex market than they make profits. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.
Forex trading is a highly leverage product which increases the risk associated with forex trading.