Fake Forex Brokers List in South Africa 2023
In the trillion dollars forex market, availability scammers are normal to lure the traders, and South Africa is best known for the scamming activity. Besides, forex trading scams in South Africa are on the rise. Although, forex traders across the world are well aware of forex scams in South Africa. But, still, there are legit brokers too who are highly regulated, and that is why traders get confused while selecting the broker. In this case, having an idea about the fake forex brokers list South Africa will come handy. This article compiled the list of forex scams in South Africa for the traders' convenience. Through the list, traders can easily learn about the worst forex brokers in South Africa, which eventually helps them to avoid them. So, read on to know the scam brokers in South Africa and the ways to identify them.
Is Forex Trading Legal in South Africa?
Forex trading is legal in South Africa, and the South African Reserve Bank monitors the monetary exchange. However, the traders will require to declare their forex income in the income tax. South Africa doesn't control unregulated brokers, and using a regulated broker is not a requirement for the traders. Hence, many unregulated brokers are increasing day by day. But there are many regulated local and offshore brokers in South Africa. But the worst forex brokers in South Africa don't abide by any rules, and it's easier for them to put the traders in a trap. So, knowing the forex trading scams in South Africa will help the traders to stay away from the scammers.
How to Identify the Scam Brokers in South Africa?
Finding out the scammers is not an easy task as they follow different unique ways to do so. It eventually becomes a hassle and time-consuming to check each list of forex scams in South Africa. But there are a few shortcut ways to know the South African forex scammers. The easiest process is checking the fake forex brokers list South Africa, which we have mentioned on this page. Nevertheless, all the scammers follow a few common ways to attract traders. Read on to know the commonly found scamming process.
Provide Guarantee for a Huge Return
Scam brokers all over the world usually offer a huge return sometimes; they offer a double return of the investment. As you already know, the forex industry is overly volatile, and earning a huge profit all the time is unrealistic. Since the forex market is open 24/5, the exchange rates are continuously increasing. Hence, earning a guaranteed profit should not be guaranteed. Therefore, if any broker in South Africa offers such opportunities, you should consider that as the worst forex brokers in South Africa.
No Prior Record
Usually, the best forex brokers have enough background info to attract investors. Meanwhile, the scam brokers in South Africa cannot provide credibility or background info as they change the name within a few months or form a new company. So, if you seek any background info, the scam brokers usually supply some images or screenshots. In this era of technology, producing fake screenshots is easy. So, if you come across any South African broker like that, you should have them on the list of forex scams in South Africa.
Fake Forex Brokers List in South Africa: Aggressive Marketing
Usually, the forex trading scams in South Africa are desperate and show urgency to the traders. They tend to push the inventories via some lucrative offering to register with them instantly by saying the offer will remain valid for the next thirty minutes or something like that. So, this kind of strategy is a good example of aggressive marketing, perhaps the scamming activity. So, the prospective investors should be aware of this strategy; any sort of push marketing or urgency should be neglected.
Scam Brokers List
Broker | Website | Reason |
---|---|---|
FX NextGen | www.fxnextgen.com | Offshore license |
Calibur | www.caliburcapital.net | No license |
Titan FX | www.titanfx.com | Offshore License |
FTE FX | www.ftefxpro.com | Offshore License |
Prime XBT | www.primexbt.com | Offshore License |
Tradersway | www.tradersway.com | Offshore License |
MidasGlobe | www.midasglobe.com | No License |
Kronosinvest | www.kronosinvest.com | No license |
Binomo | www.binomo.com | Offshore license |
Circleforex | www.circleforex.com | No license |
First BTC FX | www.firstbtcfx.com | No license |
EssenceFX | www.essencefx.com | Offshore license |
EvisionFX | www.evisionfx.com | No license |
RickGlobal | www.rickglobal.com | Offshore license |
RCM FX | www.rcmfx.com | Offshore license |
247SmartFx | www.247smartfx.com | No license |
Traderia | www.traderia.com | Offshore license |
FX Options24 | www.fx-options24.com | No license |
JustForex | www.justforex.com | Offshore license |
TBFX | www.tbfxtrades.com | No license |
MGM Markets | www.mgm-markets.com | No license |
OlympusMarkets | www.olympusmarkets.com | Offshore license |
Sure Forex Trade | www.sureforextrade.com | No license |
CFreserve | www.cfreserve.com | No license |
Fern | www.fuerfx.com | No license |
Capital TradeFX | www.capitaltradefx.com | Offshore license |
FX PREMIUM | www.fx-premium.com | Offshore license |
Pari Fx Trade | www.parifxtrade.com | Offshore license |
InvestTeck | www.investteck.com | No license |
Aduno Capital | www.adunocapital.com | No license |
S&P Broker | www.snpbroker.io | No license |
Capital88 | www.capital88.com | Offshore license |
4xincome | www.4xincome.com | Offshore license |
TopTradePro | www.toptradepro.com | Offshore license |
Go Capital FX | www.gocapitalfx.com | Offshore license |
Swiss Investment Fx | www.swissinvestmentfx.com | Offshore license |
Smartoptionfx | www.smartoptionfx.com | No license |
Globalix | www.globalix.com | Offshore license |
Libra Markets | www.libramarkets.com | No license |
Monfex | www.monfex.com | Offshore license |
iFXOPTION | www.ifxoption.com | No license |
GoldFxTrading | www.web.goldfxtrading.com | Offshore license |
GoTechFx | www.gotechfx.com | Offshore license |
Ultrontradefx | ultrontradefx.com | No license |
FXIG Trades | www.fxigtrades.com | No license |
4xpremium | www.4xpremium.com | No license |
TurboForex | www.turboforex.com | Offshore license |
Swissinv24 | www.swissinv24.com | Offshore license |
Golden Key Pro | www.goldenkeypro.com | Offshore license |
UproFx | www.uprofx.com | No license |
GoldmanCFD | www.goldmancfd.com | Offshore license |
GCG Asia | www.guardiancapitalag.asia | No license |
Trade Global Market | www.tradeglobalmarket.com | No license |
AZ Trades | www.aztrades.com | Offshore license |
IC Finance | www.ic-finance.net | Offshore license |
69Brokers | www.69brokers.com | No license |
TraderUR | www.traderur.com | Offshore license |
WandaFx | www.wandafx.com | No license |
SeRex Investments | www.serexinvestments.com | No license |
Tradepro Capitals | www.tradeprocapitals.com | Offshore license |
KayaFX | www.kayafx.com | No license |
PTBanc | www.ptbanc.com | Offshore license |
Millennium FX | www.mnmfx.com | Offshore license |
Kapitalfx | www.kapitalfx.de | No license |
PRIMEXQ | www.primexq.com | No license |
Obsbit | www.obsbit.com | Offshore license |
SwiftCFD | www.swiftcfd.com | Offshore license |
BlueMax Capital | www.bluemaxcapital.com | Offshore license |
ItradeFXoption | www.itradefxoption.com | No license |
70Trades | www.70trades.com | Offshore license |
Capital Hall | www.capitalhall.com | Offshore license |
K2 Wall Street | www.k2wallstreet.com | No license |
CapitalFXclub | www.capitalfxclub.com | No license |
Worldwide CapitalFX | www.worldwidecapitalfx.com | Offshore license |
TradeInvest90 | www.tradeinvest90.com | Offshore license |
ADN Markets | www.adnmarkets.com | Offshore license |
Hugosway | www.hugosway.com | Offshore license |
Brokerz | www.brokerz.com | Offshore license |
Trading Epic | www.tradingepic.com | No license |
FXNobels | www.fxnobels.io | No license |
Swiss Capital Invest | www.swisscapitalinvest.co.uk | No license |
Lockwood Investments | www.lockwoodinv.com | Offshore license |
CFDpremium | www.cfdpremium.com | Offshore license |
MegaTradeFX | www.megatradefx.com | Offshore license |
ProFxPremium | www.profxpremium.com | Offshore license |
Dax300 | www.dax300.com | Offshore license |
FXLeader | www.fxleader.com | Offshore license |
Blue Trading | www.bluetrading.com | No License |
Trader.Online | www.trader.online | Offshore license |
Ace Forex | www.acefx24.com | Offshore license |
GxFX | https://gxfx.com | No License |
Forex Grand | https://forexgrand.com | Offshore License |
BTCHOME | www.btchomemining.com | Offshore License |
FXtrade777 | www.fxtrade777.com | Offshore license |
AitsFX | www.aitsfx.com | Offshore license |
ZeegosFX | www.web.zeegos.online | Offshore license |
Citifxmarkets | www.citifxmarkets.com | No license |
Finbitex | www.finbitex.com | Offshore license |
Golden Financial | www.gdfxuk.com | No license |
MaxiTrade | www.maxitrade.com | Offshore license |
FXLinked | www.fxlinked.com | Offshore license |
Ideal Global Trading | www.fxideal.com | No license |
VolumeFX | www.volumefx.com | Offshore license |
The55thFx | www.the55thfx.com | No license |
KapitalSwiss | www.kapitalswiss.com | No license |
ZonggangCaifu | www.zgangfx.com | No license |
Phy Capital Investments Limited | www.phyfx.com | No license |
eMarketsTrade | www.emarketstrade.com | No license |
Esplanade | https://esplanade-ms.com | Offshore License |
Admiral-Markets.com | https://www.admiral-markets.com | No License. Clone Firm. |
Bex Options | www.bexoptions.com | No license |
Affliated Trade Group | www.affiliatedtradegroup.com | No license |
Kingston Trading | https://kingstontrading.com | No License |
Wigmarkets | www.wigmarkets.com | Offshore license |
City Global Trading | http://www.cityglobaltrading.com | No License |
Option94 | www.option94.com | No License |
TheCryptoLimited | https://www.thecryptolimited.com | No License |
Pro X Finance | www.proxfinance.com | Offshore license |
Circle Markets | https://circlemarkets.com | Offshore license |
Pinprotrade | www.pinprotrade.com | Offshore license |
NewSolid | www.newsolid.com | No license |
Cointeck | www.cointeck.io | No license |
OneLife | www.onelife.com | Offshore license |
UKFinvest | https://www.ukfinvest.com | Offshore License |
Emporio Trading | https://emporiotrading.com | Offshore License |
EasyTrade | https://www.easytrade.biz | No License |
Chrono FM | https://www.chronofm.com | No License |
OMC Markets | www.omcmarkets.com | No License |
CFD Trend | www.cfdtrend.com | Offshore License |
Easy FX Trade | www.easyfxtrade.com | No license |
United FCG | www.unitedfcg.com | No license |
Financial.org | https://financial.org | No License. Negative Reputation. |
CCM Clearing | http://ccmclearing.com | No License |
OriginalCrypto | http://www.originalcrypto.com | No License |
4xCube | 4xcube.com | Offshore License |
Bitalong | https://www.bitalong.com | No License |
Your Trade Choice | www.yourtradechoice.com | Offshore license |
FinmarkFX | www.finmarkfx.com | Offshore license |
LiteFinTech | www.litefintech.io | Offshore license |
TradeLTD | www.tradeltd.com | No license |
ForexChief | https://www.forexchief.com | Offshore License |
KryptoWize | https://www.kryptowize.com | No License |
BigOption | https://www.bigoption.com | Offshore License |
Golden FX | www.golden-fx.com | Offshore license |
Solidary Markets FX | www.solidarymarkets.com | No license |
DCA-Finance | https://dca-finance.com | No License |
CryptoNetto | https://cryptonetto.com | No License |
Daiju Commodity Markets | https://www.daiju-cm.com | No License |
GWIT | www.gwitmarkets.com | No license |
Europe Forex Invest | www.eufxinvest.com | Offshore License |
Forex Birds | www.forexbirds.com | Offshore License. |
Blackstone500 | www.blackstone500.com | No License |
Capoinvest | www.capoinvestgroup.co.uk | No License |
Royal GTX | www.royalgtx.com | No License |
Premium Brokers | www.the-premium-brokers.net | Offshore License |
Uptos | www.uptos.net | Offshore License |
StarkMarkets | www.starkmarkets.com | No License. Negative Reputation |
Fx Option Trade247 | www.fxoptiontrade247.com | No License. Clone Firm. |
TraderKing | www.traderking.io | Offshore License |
AMarkets | www.amarkets.com | Offshore License |
LionsFM | www.lionsfm.com | Offshore License |
WDC Markets | www.wdcmarkets.com | No License |
Royaltd24 | www.royaltd24.net | Offshore License |
RoyalsFX | www.royalsfx.co | No License |
Spectre | www.spectre.ai | Offshore License |
Concept4X | www.concept4x.com | Offshore License |
FxFixed | www.fxfixed.com | No License |
FINMAX | www.finmaxbo.com | No License |
Videforex | www.videforex.com | Offshore License |
MetaFinanceTrade | www.metafinancetrade.com | No License |
Capital GMA | www.capitalgmafx.com | No License |
Finq | www.finq.com | Offshore License |
SmartFX | www.smartfx.com | Offshore License |
AAG Markets | www.aagmarkets.com | Offshore License |
CVC Markets | www.cvcmarkets.com | Offshore License |
JustProForex | www.justproforex.com | Offshore License |
GoldenSkyCapital | www.goldenskycapital.com | Offshore License |
Swissquotes | www.swissquotes.de | No License |
Uniglobe Markets | www.uniglobemarkets.com | Offshore License |
CobraCFD | www.cobracfd.biz | Offshore license |
Elite Trading | www.elitetrading.co | No License |
Arum Trade | www.arumtrade.com | Offshore License |
FXprime | www.fxprime.io | Offshore License |
AnyTrades | www.anytrades.com | Offshore License |
BrighterTrade | www.brightertrade.com | Offshore license |
BK-Coin | https://bk-coin.com/ | No license |
Capital Traders | https://www.capital-traders.com/ | No license |
CryptoAllDay | https://cryptoallday.com/ | No license |
SpearTrader | www.speartrader.com | No license |
TegasFX | www.tegaxfx.com | Offshore License |
Cryptonix Team | https://thecryptonixteam.com/ | No License |
Cyber FX | https://www.cyber-fx.com/ | No License |
MCH Investment Strategies | www.mchinvestment.com | No License |
CF Merchants | www.cfmerchants.com | Offshore license |
OneTradex | www.onetradex.com | Offshore license |
Evolution Brokers | www.evolutionbrokers.com | Offshore license |
4xFX | www.4xfx.com | No License |
YFX Capital | www.yfxcapital.com | Offshore license |
PrimeFX | www.pfx-bank.com | No license |
AG Capitals | www.agcapitals.com | Offshore license |
Aleforex | www.aleforex.com | No license |
CarterFS | www.carterfs.com | No license |
Option888 | www.option888.com | No license |
Parnassus Group | www.parnassusgroupllc.com | Offshore License |
Prime | www.hbblmw.com | No license |
UBCFX | www.ubcfx.com | Offshore License |
Zuercher Capital | www.zuerchercapital.com | No License |
CFDStocks | https://www.cfdstocks.com/ | No License |
Aisa | www.aisafx.com | Offshore license |
St Clair Capital Group | http://stclaircapitalgroup.com/ | No License |
PBN Trade | https://pbntrade.com/ | No License |
Morgan Newfield | http://www.morgannewfield.com/ | No License |
By Trading | http://by-trading.com | No License |
GSI Markets | www.gsimarkets.com | Offshore license |
RichmondFG | www.richmondfg.com | No License |
FXmarket247 | https://fxmarket247.com | No License |
Binary Uno | https://www.binaryuno.com/ | No License |
OptionStars Global | https://www.optionstarsglobal.com/ | No License |
Goptions | http://www.goptions.com/ | No License |
Welkron | www.welkron.com | Offshore license |
XtradeFX | http://xtradefx.com/ | No License |
Jones Mutual | www.jonesmutual.com | No License |
Swift Bit Options | www.swiftbitoptions.com | Offshore license |
Rocket Consultant Group | www.rocketconsultantgroup.com | No license |
RCPro | www.rcpro.com | No license |
Extick | www.extick.com | No license |
2dots | www.2dots.com | No license |
GSFX | http://www.gsfx.com | No license |
10Brokers | www.10brokers.com | No license |
Platinums Trade | www.platinumstrade.com | Offshore license |
Broker Yard | http://www.brokeryard.com | Offshore license |
Shinsei Corporate Management | https://www.shinseisecurities.com | No License |
Binatex | https://binatex.com/ | No License |
LottMarket | https://lottmarket.com/ | No License |
Finpari | http://www.finpari.com/ | Offshore License |
Empire Option | https://www.empireoption.com/ | Offshore License |
BeAlgo | www.bealgo.com | No license |
Noble Capital House | https://www.noblecapitalhouse.com/ | No license |
SoarFX | https://www.soarfx.com | No license |
OPCompany | www.opcompany.net | No license |
Dax-300 | www.dax-300.com | Offshore license |
XEcrypto Bank | xecryptobank.com | No License |
Pearson Investments | https://www.pearson-investments.com/ | No License |
Dubai FXM | www.dubaifxm.com | Offshore license |
Asic Trader | www.asictrader.com | No license |
TouchTrades | www.touchtrades.com | No license |
CF Group | www.forexcf.com | No license |
Markets Xchange | www.marketsxchange.com | Offshore license |
NBR Trading | https://www.nbrtrading.com/ | No License |
RoyalCripto | http://royalcripto.com/ | No License. Negative Reputation |
CK Markets | ckmarkets.com | No License |
TopstepFX | www.topstepfx.com | No License |
PlusOption | https://www.plusoption.com/ | No License |
Financika | www.financikatrade.com | Offshore license |
PWRTrade | www.pwrtrade.co | Offshore license |
CriptoRobot | criptorobot.com | No License |
Point Investment Group | http://www.pointinvestmentgroup.com/ | No License. Negative Reputation |
Ayrex | https://www.ayrex.com | No License |
Fin-Tech Prime | www.fin-techprime.com | Offshore license |
Trade Fintech | https://tradefintech.com/ | Offshore License |
iMarketsLive | https://imarketslive.com/ | No License |
Nagaharu Global | http://www.nagaharu-global.com/ | No License |
FxtPremium | www.fxtpremium.com | Offshore license |
LatAm | https://www.latam-fx.com/ | No License |
VTGFX | www.vtgfx.com | Offshore License |
VNC Brokers | www.vncbrokers.com | Offshore License |
Zend Trade | www.zendtrade.com | No license |
OndaMarkets | www.ondamarkets.com | Offshore license |
Inmarket FX | www.inmarketfx.com | Offshore license |
EyeLine | www.eyelinetrading.com | No License |
Shtern Group | https://www.shterngroup.com/ | No License |
TIXfx | http://www.tixfx.com/ | No License |
Invest Trader | https://investrader.net/ | No License |
Option Expert | https://optionexpert.net/ | No License |
24TradeRush | http://24traderush.com/ | Suspended License. |
FXBTG | www.fxbtg.co.nz | No license |
Easy Line Pro | www.easylinepro.com | No license |
FX Merchants | www.fxmerchants.com | No license |
Trades.com | www.trades.com | No license |
TopTrade | https://www.toptrade.fm/ | No License |
TeamFX | https://www.teamfxtrading.co.uk/ | No License |
HybridReserve | www.hybridreserve.com | Offshore license |
Templer FX | www.templerfx.com | Offshore license |
Britonprice | www.britonprice.com | No license |
WT Capital | www.wt-capital.com | Offshore license |
Eminage | www.eminage.com | No License |
ECM | www.ecmtrader.com | No License |
Tallinex | www.tallinex.com | No License. Negative Reputation |
UB4Trade | www.ub4trade.com | No license |
Finodax | www.finodax.com | No license |
TradeToro | www.tradetoro.com | Offshore license |
GMFX24 | www.gmfx24.com | Offshore license |
Boom Xchange | www.boomxchange.com | No license |
CapitalXP | www.capitalxp.com | Offshore license |
Roiteks | https://roiteks.com/ | No License |
365 FX | www.365-fx.com | Offshore license |
LVMexchange | www.lvmexchange.com | Offshore license |
4xbrands | www.4xbrands.com | Offshore license |
Big Boss | https://www.bigboss-financial.com/ | Offshore license |
PrimeCrypto | https://primecrypto.io/ | No License |
Capital Swiss FX | www.capitalswissfx.com | Offshore license |
CFDs100 | www.cfds100.com | No license |
Marketsplus | https://marketsplus.com/ | No license |
Novatrades | https://www.novatrades.com/ | No license |
AMP Trading | https://www.novatrades.com/ | No license |
GFCInvestment | www.amptradinggroup.com | Offshore license |
FXBreeze | www.gfcinvestment.com | No License |
CoinbrokerZ | www.coinbrokerz.com | No License |
Crypto Options Trader | www.crypto-optionstrader.com/ | No License |
TradesFX | www.tradesfx.com | Offshore license |
Cac400 | www.cac400.com/ | No License. Negative Reputation |
MT4Invest | www.mt4invest.com/ | No License |
UFX | www.ufx.com | Offshore License |
MPlus Social | www.mplussocial.com | Offshore license |
XtraderFX | www.xtraderfx.com | No license |
IGOFX | www.igofx.com | Offshore license |
Vix500 | https://vix500.com/ | No License. Negative Reputation |
DracoFX | www.dracofx.com | No License |
Efexa1000 | www.efexa1000.com | Offshore license |
AlphaCapital | www.alphacapital.capital | No License |
Mib700 | www.mib700.net/ | No License. Negative Reputation |
Bormancorp | www.bormancorp.com | Offshore license |
HispaMarkets | www.hispamarkets.com | Offshore license |
RC Global Financial | www.rcglobalfinancial.com | Offshore license |
Trade111 | www.trade111.com/ | No License. Negative Reputation of the Group. |
4xpoint | www.4xpoint.com/ | No License. |
LittInvest | www.littinvest.com | No License. |
XtreamForex | www.xtreamforex.com/ | No License. |
SigmaCFD | www.sigmacfd.com | Offshore license |
Markets Cube | www.marketscube.com | Offshore license |
Markets.Online | www.markets.online | No License |
Prestige.FM | www.prestige.fm | No License |
FXGIM | www.fxgim.com | Offshore license |
EuroPrime | https://www.europrime.com/ | No License. |
AroTrade | www.arotrade.com | Offshore License |
FXPrimes | www.fx-primes.com | No License. |
XMarkets | www.xmarkets.com | No License. |
FXG Invest | www.fxginvest.com | Offshore license |
InvestCity | www.investcity.com | Negative Reputation. |
Profit Trade | www.profit-trade.com | Offshore license |
Escuela Trades | www.escuelatrades.com | No License |
Primus Trades | www.primustrades.com | No license |
RaxoFX | www.raxofx.com | Offshore license |
EFXGlobal | www.efxglobal.com | Offshore license |
True4X | www.true4x.com | Offshore License. |
GDM FX | www.gdmfx.com | No License. Negative Reputation. |
Market Investment | www.marketinvestment.com/ | Offshore License. |
Up4x | www.up4x.com | Offshore license |
Master4x | www.master4x.com | No license |
ECN Capital | www.ecncapital.com | Operates with No License. Negative Reputation. |
Caesar Trade | http://caesar-trade.com/ | Operates with No License. Negative Reputation. |
TradeX1 | https://tradex1.com | Operates with No License |
HBC Broker | www.hbcbroker.com | Offshore license |
PBN Capital | www.pbncapital.com | No license |
TorOption | www.toroption.com | Operates with No License |
CFXPoint | www.cfxpoint.com/ | Operates with No License |
InvestingPRO | www.investingpro.com | Offshore license |
RoyalCFDs | www.royalcfds.com | Offshore license |
XLR Trade | www.xlrtrade.com | Non Licensed Operation. |
ManagedForexHub | http://managedforexhub.com/ | Non Licensed Operation. |
24StarTrade | www.24startrade.com | Non Regulated Broker. |
31FX | www.31-fx.com | Offshore license |
365Markets | www.premium.365markets.com | No license |
AGAM | https://atlanticgam.online/ | No License. Numerous warnings. |
Five Winds | https://fivewindsam.com/ | No License. Numerous warnings. |
TitanTrade | www.titantrade.com | Offshore license |
AFX Markets Online | www.afxmarketsonline.com | Offshore license |
Getco Pro | www.forex.getcopro.com | No license |
BForex | www.bforex.com | No license |
MyFintec | www.myfintec.com | Offshore license |
AlfaTrade | http://alfatrade.com/ | Offshore License. Negative Reputation. |
AAFX Trading | www.aafxtrading.com | Offshore company. Negative Reputation. |
CloseOption | www.closeoption.com | Lack of Regulation |
Capitals Banks | www.capitalsbanks.com | No license |
Wise Banc | www.wisebanc.com | No license |
HiWayFX | https://hiwayfx.com | Suspended License. Suspicious Operations. |
S2Trade | www.s2trade.com | Operates with No License |
PBN Invest | www.pbninvest.com | Offshore license |
Fxcentral | http://www.fxcentral.net | No License. Negative Reputation. |
Capprofx | www.capprofx.com | Operates with No License |
Forex Optimum | https://forexoptimum.com | Operates with No License |
KontoFX | www.kontofx.com | No license |
Forex Swiss FXCH | http://forex-swiss.com | Operates with No License. |
ACFX | http://atlaseforex.com | Suspended License. Negative Reputation. |
Global Clearing Group | http://2pipsforex.com | Operates with No License |
FinPro Trading | https://finprotrading.com | Operates with No License |
GAINSY | www.gainsy.com | Operate without License. |
NetoTrade | www.netotrade.com | Operation with no license. Negative Reputation. |
Trade24 | www.trade-24.com | Offshore license |
Benchhill Partners | www.benchhill.ch | No license |
Markets Broker | www.marketsbroker.com | No License. Offshore Broker. |
Yadix | www.yadix.com | Negative Reputation |
Trade Capital | www.tradecapital.com | No license |
AAAFx | https://aaafx.com | Numerous complaints. |
iFOREX | www.iforex.com | Non compliance |
TradeDAX | www.tradedax.com | Offshore license |
GCI Financial | www.gcitrading.com | No License |
Opportunity Trade | www.opportunity-trade.com | No License |
TopicMarkets | www.topicmarkets.com | Offshore license |
BrokerOfficial | www.brokerofficial.com | No license |
Profiforex | www.profiforex.com | No License. Offshore Broker. |
FxOnUs | https://fxonus.com/ | No License |
SuperForex | www.superforex.com | Offshore license |
Bulls Capital Markets | www.bullscapitalmarkets.com | No License. |
FreshForex | https://freshforex.com/ | No License. |
LQDFX | www.lqdfx.com | Offshore license |
Capital Currency Trade | www.capitalcurrencytrade.com | Offshore license |
PaxForex | https://paxforex.com | No License |
GFBroker | www.gfbroker.com | Offshore license |
FxGlory | www.fxglory.com | Offshore license |
Trade12 | www.trade12.com | No License |
Fort Financial Services | www.fortfs.com | Lack of Regulation. |
Stock Trade Invest | www.stocktradeinvest.com | No license |
InvestMib | www.investmib.com | Offshore license |
FxUnited | http://fxunitedglobal.com | No License. Scam operations. |
Grand Capital | www.grandcapital.net | Offshore license |
Capital Markets Banc CMB | https://capmbeu.com | No License |
FXC Markets | www.fxcmarkets.com | Offshore license |
TGC FX | www.tgcgroupfx.com | No license |
Turnkey Forex | www.turnkeyforex.com | Offshore License |
BECFD | www.becfd.com | Offshore license |
Swiss Markets | www.global.swissmarkets.com | Offshore license |
ExpertOption | www.expertoption.com | Offshore License |
Royal Capital Pro | www.royalcapitalpro.com | No License |
CentroBanc | www.centrobanc.com | Offshore license |
Richmond Investing | www.richmondinvesting.com | Offshore license |
FXGiants | www.fxgiants.com | Non Compliance |
IronFX | www.ironfx.com | Non compliance |
KB Capitals | www.kbcapitals.com | No license |
Crown Finance | www.crown-finance.com | Offshore license |
ForexMart | www.forexmart.com | Reputation |
UniTrader | www.unitrader.com | Offshore license |
FGS Markets | www.fgsmarkets.com | Offshore license |
XForex | www.xforex.com | Offshore License |
72option | www.72option.com | No license |
Banc De Monarch | www.bancdm.io | Offshore license |
SGT Markets | www.sgtmarkets.com | Offshore license |
8888Markets | www.8888markets.com | No license |
HQBroker | www.hqbroker.com | Offshore license |
FXT24 | www.fxt24.com | No license |
TradesPrime | www.tradesprime.com | Offshore license |
VFX Capital | www.vfxcapital.com | Offshore license |
iForex24 | www.iforex24.com | Offshore license |
StarfishFX | www.starfishfx.com | No license |
Investex | www.investex.com | Offshore license |
WorldFXM | www.worldfxm.com | Offshore license |
GreenFields Capital | www.greenfieldscapital.com | No license |
SimpleFX | www.simplefx.com | Offshore license |
1000 Extra | www.1000extra.com | Offshore license |
NordFX | www.nordfx.com | Offshore license |
Ostrich Capital | www.ostrichcapital.com | No license |
CM Trading | www.cmtrading.com | Offshore license |
LMFX | www.lmfx.com | Offshore license |
Tradeview Forex | www.tradeviewforex.com | Offshore license |
UMOFX | No license | |
Gallant Finance | www.gallantfinance.com | Offshore license |
FXChoice | www.myfxchoice.com | No license |
TradeFTM | www.tradeftm.com | No license |
Stern Markets | www.sternmarkets.com | Offshore license |
OnlyTrades | www.onlytrades.com | No license |
Xinghui International | No license | |
AVA Investments | www.ava.investments | Offshore license |
FxFWay | www.fxfway.com | Offshore license |
TradeBNP | www.tradebnp.com | Offshore license |
Baihua Global | www.bfmfx.com | No license |
YesTrading | www.yestrading.com | Offshore license |
FSMSmart | www.fsmsmart.com | Offshore license |
AccentForex | www.accentforex.com | Offshore license |
Suisse Trade Center | www.stcforex.com | Offshore license |
CMSTrader | www.cmstrader.com | Offshore license |
FXPremax | www.fxpremax.com | No license |
SwissCCI | www.swisscci.com | Offshore license |
Axe Invest | www.axeinvest.com | Offshore license |
Forex4You | www.forex4you.com | Offshore license |
TradeTime | www.tradetime.com | Offshore license |
Universe Markets FX | www.universemarketsfx.com | No license |
12Trader | www.12trader.com | Offshore license |
Umarkets | www.umarkets.com | Offshore license |
Utrade | www.utrade.online | No license |
JAFX | www.jafx.com | Offshore license |
uTrader | www.utrader.com | Offshore license |
Al Trade | www.alforex.com | No license |
10Markets | www.10markets.com | Offshore license |
Caxton Global | www.caxtonglobal-fx.net | No license |
InstaFX24 | www.instafx24.com | Offshore license |
8inFX | www.8infx.com | Offshore license |
StoxMarket | www.stoxmarket.com | Offshore license |
TDMarkets | www.tdmarkets.com | Offshore license |
Trade WFX | www.tradewfx.com | No license |
Tait Investment Group | www.taitinvestmentgroup.com | No license |
FXG Trade | www.fxgtrade.com | Offshore license |
SolidCFD | www.solid-cfd.com | Offshore license |
GCC Investing | www.gccinvesting.com | No license |
MarketTM | www.markettm.com | No license |
MaxCFD | www.maxcfd.com | No license |
BRFX Trade | www.brfxtrade.com | Offshore license |
Tradovest | www.tradovest.com | Offshore license |
CFD Corporate | www.cfdcorporate.com | No license |
Pro TradeFX | www.protradefx.com | Offshore license |
Gulf FX | www.gulffx.co | No license |
Time4X | www.time4x.co | Offshore license |
100XFX | www.100xfx.com | Offshore license |
CT-Trade | www.ct-trade.com | No license |
Everest International Group Ltd | www.everestinter.com | No license |
EU-Capital | www.eu-capital.co | Offshore license |
Bristol Consulting FX | www.bristolconsultingfx.com | No license |
MarketGBP | www.marketgbp.com | Offshore license |
Tradeu2 | www.tradeu2.com | Offshore license |
CFD Royal | www.cfdroyal.com | No license |
Meta Investing | www.metainvesting.com | Offshore license |
Xiaohangjia Brokers | Offshore license | |
ISGXchange | No license | |
Get Financial | Offshore license | |
Broker XP | www.brokerxp.com | Offshore license |
Oracle-FX | www.tg.oracle-fx.com | Offshore license |
Primus Forex Financial Group | www.primusasia.com | No license |
Bitex360 | www.bitex360.com | Offshore license |
Swiss Assets FX | www.sfmsas.net | No license |
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Top Rated Online Best Forex Brokers 2023
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Best Forex Brokers List 2023
Report A Scam Broker
How to Avoid Scam Brokers in South Africa?
The best way to avoid forex trading scams in South Africa is to know each broker. You can have proper knowledge about them by checking with the fake forex brokers list South Africa, which is available in the different forums as well as on this page. So, you can verify your selected broker from this list. If you see the intended forex broker is enlisted in the list of forex scams in South Africa, you should immediately neglect it. Moreover, we always try to make a list updated, so you can check this from time to time to know if your broker is added to the list.
So, your goal should be trading with a broker that is not available on this list.
Final Words
Fake forex brokers list South Africa is the ultimate way to stay safe from those scam brokers. So, it is recommended that you should check the fake broker's list before you choose any broker. Further, when you choose a broker, try to find their reviews in the forex community or different forums. That is how the traders can find legit forex brokers and stay away from the worst forex brokers in South Africa.