But XTB, which is a publicly listed company, has made this information public in their Investor presentations, as well as on their FAQs page about revenue sources. If there is no investor protection fund, you could lose your deposits if the broker goes out of business. Both these are generally good indications that the broker is serious about compliance & have sasol stock proper risk management in place to handle client funds properly. Some of the brokers like HFM who have large trading volumes are still not licensed ODP. Therefore, they cannot offer CFDs or any derivative instruments as the counter-party.
- After much success, the company couldn’t ignore Krieger and increased his standard $50 million trading capital to $700 million, which used to be unheard of.
- We tested their live chat during the weekday, and we were connected quickly & got the right responses.
- FxPro have 70 currency pairs available on their trading platform (which is higher than other forex brokers like HFM).
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To save your time, we have already calculated & compared the fees of all the brokers for you in our comparison. Tracking the fees charged by a broker & then comparing it with other brokers is not easy, but we are here to help you with this. The broker may or may not act as the market maker or issuer of the derivatives you are trading with it, but to do so legally, it has to have ‘approved’ ODP sasol company license status.
Devise a Trading Plan
This is because the bid & ask prices are volatile & brokers by the nature of their execution model may not be able to fill your order immediately. But market execution brokers (mostly market makers) are able to offer instant fill of your orders without requotes but there is likely to be slippage. Another factor to consider is if the broker offers quick order execution speed. Forex brokers either offer market execution or instant execution of orders. Whenever you are choosing any broker you cannot ignore the counter party risk.
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But they are not regulated with FSCA, instead their parent company is regulated with foreign regulators ASIC (Australia), https://www.alexforbes.com/ CySEC (Cyprus) & IFSC. We like their fast order execution, low spread with Ultra Low Account and zero fees on deposits/withdrawals. In South Africa, the Financial Sector Conduct Authority (FSCA) governs forex trading activities and enforces essential guidelines on data protection, capital requirements, and fund segregation.
Financial Services & Investing
We have compiled a list of the Forex brokers in https://www.investec.com/ South Africa, which were highly recommended by the aforementioned traders and more. This should help you find the broker best suited for you if you are looking for a new brokerage platform. Some Forex scanners are available as standalone software, while others are integrated into trading platforms. Both novice and experienced traders can use them to save time and improve their trading results. Forex trading has become increasingly popular over the past few years, with many individuals seeking to make a secondary income or achieve financial independence through online trading.
His charisma and capacity to communicate with the masses have enabled him to amass a massive social media https://www.coronation.com/ following. His precise net worth is a matter of conjecture, but there is no doubt that he has amassed a substantial fortune through forex trading. Jabulani Ngcobo, also known as “Cashflow” Ngcobo, is another prominent figure in the forex trading community of South Africa.
