For this reason, it’s vital to determine whether the broker is regulated by the FSCA, South Africa’s regulatory authority. But traders beware: there has been a sharp increase in online forex broker scams. With a re-energized forex market offering expansive opportunities, more people are turning towards forex trading to help regain lost income. An economy that is not growing cannot produce enough jobs, and as a result, the unemployment rate is climbing. Even before the pandemic hit, SA had already been suffering an economic decline. In South Africa (SA), GDP fell 16.4% in three months leading up to June after strict Covid-19 paralyzed activity. Have you been affected by the unemployment rise in South Africa? Maybe you’re growing increasingly worried about the longer-term implications of COVID-19? Click here for a full list of our partners and an in-depth explanation on how we get paid. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Neither our writers nor our editors receive direct compensation of any kind to publish information on. Forex Trading in South Africa (2023): Everything You Need ✅ NewsletterĪll reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team.
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