FSCA Regulated Forex Brokers in South Africa (2026 Guide)

An interview that never took place. This guide is written as a conversation between a curious reader, Sipho from Johannesburg, and an imagined compliance officer, Thandi, who has spent years reading licence registers. They talk through what FSCA regulated forex brokers in South Africa really means in 2026: what the Financial Sector Conduct Authority licenses, how to check a firm, what exchange-control rules touch your money and how to avoid the scams that exploit the word "regulated". Both speakers are invented. Nothing here is advice, and no firm is stated to hold a licence unless you verify it yourself. 🇿🇦🎙️

⚠️ Legal caution for readers in South Africa: the Financial Sector Conduct Authority, the FSCA, supervises financial services providers under the Financial Advisory and Intermediary Services Act and publishes a register of authorised providers and warnings about unauthorised ones. The South African Reserve Bank administers exchange control, which can apply to money you send abroad, and the South African Revenue Service has its own rules on foreign income and gains. Rules and thresholds change. Speak to a South African attorney, an accountant and your bank before acting. This page does not claim that any named firm holds a current licence or may serve you.

🎙️ Q1 — Sipho: "What does 'FSCA regulated' actually mean?"

Thandi: It means that a legal entity is authorised as a financial services provider, an FSP, under South African law and is supervised by the FSCA for conduct: how it treats clients, how it advertises, how it holds client money, what it discloses. The licence names the entity, an FSP number and the categories of financial services and products it may provide. Leveraged forex and CFDs fall under derivative instruments, so a provider needs the right category on its licence. A firm can be authorised for some things and not others, so "regulated" is a start of a question, not an answer. 🎙️

🎙️ Q2 — Sipho: "How do I check a firm?"

Thandi: Go to the FSCA website and use its search for authorised financial services providers. Search by the firm's legal name and by FSP number, not by brand. Read the status, which should show the provider as authorised, the licence categories, any conditions and the key individuals. Compare the entity's name and address with the agreement you are given. If the firm does not appear, or the categories do not include derivative instruments, the claim is overstated. Also read the FSCA's warnings page for the firm's name and for look-alike names. 🔍

🎙️ Q3 — Sipho: "Is every big global brand licensed here?"

Thandi: No. Many global brands have a South African entity with an FSP licence, some serve South Africans from offshore entities and some do both through different pages. The brand on the homepage may be the same while the legal entity differs. Always ask which entity would contract with you as a South African resident, and verify that entity. If a firm says it is "FSCA regulated" but your agreement is with an entity in another jurisdiction, ask why. 🌍

🎙️ Q4 — Sipho: "Which names should I look at?"

Thandi: These brands are commonly discussed by South African traders. They are for research, not endorsement, and I am not asserting that any holds a current licence; the register decides.

1. Exness 🟡 — a very large global name; check which entity is named for South Africa and its FSP number. Search for the Exness entity named for South Africa and compare its FSP number with the FSCA register
2. FxPro 🔵 — long-running group; ask which entity serves residents. Ask FxPro which legal entity would contract with a South African resident and keep the answer in writing
3. Pepperstone 🟠 — Melbourne-founded; check the entity for South African clients. Check the Pepperstone legal pages for the entity and regulator that apply to clients in South Africa
4. IG 🔷 — a large UK-listed group; check any South African entity.
5. AvaTrade 🟢 — a multi-regulated brand; verify the local entity.
6. HFM 🔶 — graded accounts; verify the entity for your country.
7. FXCM 🟥 — long-established; verify the entity.
8. XM 🟣 — micro accounts; confirm the entity.
9. OANDA 🟤 — rate data and research; check the entity.
10. Saxo 🟦 — bank-style multi-asset broker; verify the entity.

For each, record: legal entity, FSP number, date you checked, licence categories, conditions, regulator, minimum deposit, spread at your hours, commission, swap, funding and withdrawal routes. 📋

🎙️ Q5 — Sipho: "What about exchange control and my rands?"

Thandi: South Africa has exchange-control rules administered by the Reserve Bank. Individuals can send money offshore within annual allowances, subject to tax-compliance requirements for larger amounts, and the rules and thresholds change from time to time. Paying a foreign broker from a rand account can count as an offshore transfer. Ask your bank, in writing, how it classifies payments to the broker's entity and which documents it needs. If the broker has a South African entity and accepts rands, the payment may be domestic. Read the cashier and the agreement. And keep records for SARS. 🏦

🎙️ Q6 — Sipho: "What protections does a licence give me?"

Thandi: FSPs must meet conduct and disclosure rules, keep client money separate where required and handle complaints through a process that can lead to the FAIS Ombud for matters within its remit. A licence does not protect you from trading losses. It does not make leveraged products safe. Supervisors that publish figures show that most retail accounts lose. 🛡️

🎙️ Q7 — Sipho: "What costs should I compare?"

Thandi: Spread at your hours, commission, swap, deposit and withdrawal fees, rand conversion margins and inactivity fees. Test on demo at three times of day, and around an announcement. A licensed firm with high costs can be worse for you than a cheaper licensed one. 🧮

🎙️ Q8 — Sipho: "And the time zone?"

Thandi: South Africa keeps UTC+2 all year. London opens at ten in the morning in summer and nine in winter, so you overlap with Europe in the morning and with New York in the afternoon. US data lands in mid or late afternoon. Mark releases in your local time. 🕐

🎙️ Q9 — Sipho: "What scams should I watch for?"

Thandi: Cloned FSCA claims, with real FSP numbers copied onto fake websites. WhatsApp groups promising returns, "account managers" who call repeatedly, recovery agencies that charge up front and anyone asking for remote access. Four refusals protect you: no fee to release your own money, no payment to individuals, no screen-sharing and no scheme that pays you to recruit. Check the FSCA warnings list. If you have paid, tell your bank and the police the same day. 🚨

🎙️ Q10 — Sipho: "How do I start safely?"

Thandi: Stage one is a month of demo and reading. Stage two is verification: entity, FSP number, categories, your bank's written reply. Stage three, only if everything is lawful and clear, is a small live test with money you can lose entirely. If any stage fails, stop there. 🪜

✅ Verdict

Thandi: There is no best for everyone. Look for the entity, the FSP number, the right categories, clear costs, honest support and a payment route your bank accepts. Then set your own limits. 🏁

🎙️ Q11 — Sipho: "What is the difference between Category I and Category II?"

Thandi: FSP licences are issued with categories of financial services. Category I covers providers that give advice and intermediary services; Category II covers discretionary management of investments. A firm that deals in leveraged derivatives for clients usually needs the relevant product subcategory on its licence, and some firms hold additional authorisations as market makers or over-the-counter derivative providers under separate regimes. I will not recite every subcategory, because the details change and are published on the register. What matters for you: read the "licence categories" and "products" lines and ask the firm to explain how they cover the service you want. 🎙️

🎙️ Q12 — Sipho: "A website says FSP number 12345. Is that enough?"

Thandi: No. A number can be copied. Enter it into the FSCA search and compare the name that appears with the legal name in the agreement. Compare the address and the domain, and call the phone number listed on the register, not the one on the website. If the number belongs to a different company, you have found a clone. I have seen fake sites that copy a real FSP number, a real logo and even a real compliance officer's name. The register is your anchor. 🔍

🎙️ Q13 — Sipho: "What if the broker is licensed by the FSCA and also offshore?"

Thandi: Many groups run several entities. The South African entity may offer lower leverage and more protections, and an offshore entity may offer more leverage and fewer protections. If you are a South African resident, find out which entity the registration form assigns to you and whether you can choose. If you are steered to the offshore entity, ask why, and read what you lose. An FSCA badge on a page that contracts you with an offshore firm is a bit like a South African flag on an imported product: it tells you where the marketing came from, not where the product was made. 🌍

🎙️ Q14 — Sipho: "How are client funds protected?"

Thandi: Authorised providers must keep client money separate from their own, usually in a trust account at a bank, and follow rules on reconciliation. Ask where the money is held, whether the account is separate and whether an auditor reports on it. In an insolvency, segregation helps but does not guarantee full recovery, and offshore entities may follow different rules. Ask in writing what would happen to your money if the firm failed, and save the reply. 🛡️

🎙️ Q15 — Sipho: "What about complaints?"

Thandi: Start with the firm's complaints procedure and give it a reasonable time to respond. If unresolved, you may be able to approach the FAIS Ombud for matters within its jurisdiction, or the FSCA for conduct concerns. For offshore entities, the route may be a foreign ombudsman or none. Include the complaints route in your comparison sheet. Keep every email and chat log. ⚖️

🎙️ Q16 — Sipho: "How much can I send abroad?"

Thandi: I cannot give you current figures, because thresholds and procedures change, and your own situation matters. Broadly, South African residents have a single discretionary allowance each year and a larger foreign investment allowance with tax-compliance requirements. Ask your bank and an accountant what applies now, whether transfers to a broker count and what documents you need. If the broker's entity is South African and accepts rands, the exchange-control question may not arise, which is another reason to identify the entity. 🏦

🎙️ Q17 — Sipho: "What does SARS say about trading profits?"

Thandi: Tax treatment depends on whether gains are capital or revenue in nature, on your intention and frequency, and on other factors. Losses may also have rules. I am not a tax adviser, and nor is this page. Keep complete records of deposits, withdrawals and trades, ask a registered tax practitioner and do not assume that what a friend does applies to you. 🧾

🎙️ Q18 — Sipho: "Is it safe to pay by card or EFT?"

Thandi: The payment method matters less than the recipient. Pay only to an account in the name of the verified entity. Do not pay a private person or a different company named by a "consultant". Check that the recipient name on your EFT confirmation matches the agreement. If a bank or card issuer blocks a payment, ask why; do not look for a workaround. 💳

🎙️ Q19 — Sipho: "What about Telegram and WhatsApp groups?"

Thandi: Treat them as advertising. Many are run by people who earn commissions from brokers or sell courses, and some are outright scams. Ask whether the admin discloses commissions, shows statements covering years, discusses losses and accepts questions. If critics are removed or you are pressed to deposit through a link, leave. 💬

🎙️ Q20 — Sipho: "What should I do about load-shedding?"

Thandi: Power cuts are a real risk. Keep a UPS for your router, a laptop battery, a mobile hotspot on a second network and the broker's phone number on paper. Place stops on the server, not in your head. Do not hold positions you cannot close during scheduled outages. Check outage schedules in the morning and plan accordingly. 🔌

🎙️ Q21 — Sipho: "Is the rand a problem for me?"

Thandi: The rand is volatile. If you trade EUR/USD from a rand account, you carry exchange-rate exposure in the account currency in addition to the trade. Decide in which currency you measure results. Write monthly results in rands as well as in the account currency. Keep emergency money in rands. A rand-denominated account may reduce conversion costs but may carry different spreads or fees. 🇿🇦

🎙️ Q22 — Sipho: "What about my employer and my medical aid?"

Thandi: Check your employment contract for rules on outside investments, especially in finance roles. Insurance and medical aid contributions come first in the household budget. Trading funds sit beyond essential obligations. A leveraged loss should never affect a policy you need. 🎙️

🎙️ Q23 — Sipho: "Do I need to tell my family?"

Thandi: At least one trusted person. Money secrets cause harm. Share your plan and your monthly limit and ask them to check in with you. In many South African households money supports extended families, so a loss is not private. 👪

🎙️ Q24 — Sipho: "Can you walk me through a rand cost example?"

Thandi: Say you set aside 10,000 rand, about 550 US dollars at an illustrative 18 per dollar. If you pay through a bank and the rate margin plus fee is about two percent, roughly 539 dollars arrive. You trade twelve micro positions at around 1.1 dollars of combined spread and commission each, 13 dollars, and swaps cost 3. If trades break even before costs you hold about 523 dollars. A withdrawal fee of 5 dollars and another two percent on conversion leave roughly 508 dollars, about 9,150 rand. You are 850 rand lower, 8.5 percent, with no losing trade. If your broker's South African entity accepts rands, some of the conversion cost may disappear, and others may appear. Compute with your own numbers. 🧮

🎙️ Q25 — Sipho: "How do I test a broker's support?"

Thandi: Send five questions by email. Which entity contracts with me and what is its FSP number? Which categories does the licence include? Where are client funds held? Is negative-balance protection offered? What fees apply, including withdrawal and inactivity? Time the reply, compare it with the register and save it. A firm that answers clearly and specifically before you pay is more likely to do so afterwards. 🔎

🎙️ Q26 — Sipho: "What leverage can I expect from a South African entity?"

Thandi: The FSCA has historically allowed brokers to set their own leverage within the licence conditions and conduct rules, and local entities have offered a range of ratios, though individual firms often cap leverage lower than offshore sister companies. I would not assume a number. Read the client agreement for the entity that would serve you. Whatever the cap, size from the stop and risk about one percent. ⚡

🎙️ Q27 — Sipho: "What if the broker pushes me to open a 'professional' account?"

Thandi: Be careful. Higher leverage and fewer protections often come with professional or offshore classifications. Ask exactly what you would give up. If the answer is vague, decline. ⚖️

🎙️ Q28 — Sipho: "Should I use a bonus?"

Thandi: Bonuses carry volume conditions that can cost more than they give, and rules on inducements differ by jurisdiction. If you cannot compute the effective cost, decline. A demo account teaches the same lessons without conditions. 🎁

🎙️ Q29 — Sipho: "What about copy trading and signal providers?"

Thandi: Ask how long the record is, how deep the worst drawdown was, whether costs are included and how the provider is paid. In South Africa, giving financial advice or managing money for others generally requires authorisation, so ask for the provider's FSP number. If there is none, treat the offer as unverified. 👀

🎙️ Q30 — Sipho: "How should I handle losses?"

Thandi: Plan for them. Risk about one percent per trade, cap the month, stop after two losses and write the facts in a journal. Do not borrow to recover. Do not use money meant for rent, school fees, medical costs or debts. A loss is a lesson only if you record it. 🧊

🎙️ Q31 — Sipho: "I earn in rand and spend in rand. Is it worth the hassle?"

Thandi: Possibly not. For many South Africans, paying down a bond or a high-interest loan gives a certain return that no trade can match. Retirement annuities and tax-free savings accounts have tax advantages. Ask yourself why trading is attractive: curiosity, income, excitement. If it is income, look at the arithmetic of costs and the odds first. 🇿🇦

🎙️ Q32 — Sipho: "How do I keep records for SARS?"

Thandi: Download monthly statements, save deposit and withdrawal confirmations, export the trade history and keep a one-page summary each year with the totals in rands at the dates of transfer. Store files in two places. Ask a tax practitioner what they need. 🗂️

🎙️ Q33 — Sipho: "What are the biggest mistakes you see?"

Thandi: Trusting a badge without checking the register. Using too much leverage. Trading too often. Ignoring costs. Borrowing. Joining groups that promise returns. Skipping the bank conversation. Not keeping records. Every one of those is avoidable. 🎙️

🎙️ Q34 — Sipho: "How do I check the broker's website is genuine?"

Thandi: Type the address yourself. Compare the domain with the one on the FSCA register. Be suspicious of domains with extra words, odd endings or spelling changes. Check that the company details match across the site, the agreement and the register. Call the number on the register. 🧬

🎙️ Q35 — Sipho: "What about crypto offers bundled with forex?"

Thandi: Crypto-asset service providers also need authorisation in South Africa for certain activities, and the FSCA has published warnings about unauthorised crypto schemes. Bundled offers add risks without removing any of the checks in this conversation. 🪙

🎙️ Q36 — Sipho: "What if the broker refuses a withdrawal?"

Thandi: Collect your agreement, statements and emails. Write a clear complaint and ask for a reply by a date. Escalate within the firm and then to the FAIS Ombud or the FSCA if the entity is within their reach. Inform your bank. Never pay a "release fee". Be cautious of recovery agencies that charge in advance. 🧯

🌆 Johannesburg, Cape Town, Durban, Gqeberha: Four Short Stories

Johannesburg. Lerato, a bank analyst, reads the FSCA's warning list every Monday as a habit. She finds that a "global brand" she was offered through a friend appears on the list with a note that it is not authorised. She forwards the page to the friend, and the friend is grateful and a little embarrassed.

Cape Town. Michael, a remote developer paid in euros by a European employer, learns that conversion costs on his salary exceed any spread he would pay as a trader. He opens a foreign-currency account at his bank before thinking about trading, and the saving funds an extra month of runway.

Durban. Priya, a pharmacist, is pressed by a patient to join a messaging group. She asks the admin for his FSP number. He blocks her. She tells the patient what happened.

Gqeberha. Sizwe, a motor-industry technician, writes the five support questions on a card. Of three firms, only one replies in writing and with specifics. He uses that reply to ask his bank about payments. The bank agrees to process a payment to the South African entity but not to an offshore sister. He decides the offshore route is not for him. 🌆

🧱 The Household Waterfall

Pay obligations first: bond or rent, transport, school fees, medical aid, insurance, debt repayments and family support. Next, an emergency fund of three to six months. Then retirement savings and tax-free savings. Only after those, decide whether any sum could be a learning budget. If the answer is zero, the answer is zero. Many South Africans carry a heavy load of obligations, and a leveraged loss is not a private matter. 🧱

📈 The Arithmetic of Recovery and the One-Percent Rule

A twenty percent loss needs a twenty-five percent gain to recover and a fifty percent loss needs a hundred percent. A method that wins forty-five times in a hundred still produces runs of eight losses. At one percent risk such a run costs about eight percent, and you continue. At five percent per trade it costs over a third of the account. Risk size decides survival. 📈

🧰 Platform Skills Before Money

Learn the order types: market, limit, stop, stop-limit and trailing stop. Set stops and targets at entry. Understand margin level and stop-out. Run a small demo account into a margin call on purpose to see what happens. Export a trade history and read it. Many costly mistakes in live trading come from wrong clicks. 🧰

🔁 Swaps and Overnight Charges

Holding past the daily rollover incurs a swap, positive or negative, with a triple charge once a week. For multi-day holds swaps can outweigh the spread. Look up the swap table for your pair and include it in the cost sheet. Islamic or swap-free accounts exist at some firms, usually with a fee instead. 🔁

🛰️ Execution and Slippage

The price you click may differ from the price you get, especially around news. Test on demo and, if you ever go live, on the smallest size. Ask whether the firm takes the other side of client trades, which is a conflict of interest worth understanding, and read the order-execution policy. 🛰️

🧑‍⚖️ Questions for a South African Attorney

Is it lawful for me to open and fund an account with this entity? Does the entity need to be authorised for the service offered to me? Are there exchange-control or reporting duties? How might gains be taxed? What remedies exist if the firm fails to return funds? Is any foreign venue named in the agreement practical for me? Ask for the answers in writing. 🧑‍⚖️

🧠 Biases That Cost Money

Anchoring to the entry price. Loss aversion that keeps losers open. Overconfidence after a streak. Recency bias that treats last week as the future. Name the one you caught in the journal each Sunday. After a loss, stand, drink water and walk outside before deciding anything. 🧠

🔐 Account Security

Use unique passwords and two-factor authentication on the broker and its email. Avoid public Wi-Fi for logins. Never install remote-access software at a stranger's request. SIM-swap fraud is a real risk in South Africa, so protect your mobile number with your network provider's security options and avoid SMS-only authentication where possible. 🔐

📞 A Script for Cold Callers

"I do not discuss investments by phone. Please email me your company's legal name, FSP number and regulator." End the call. If pressed, ask them to remove your number and block it. Never confirm personal details or read out a code. 📞

🏞️ Kruger Lessons: Watching From a Safe Distance

On a game drive, a guide never gets out of the vehicle to get closer to a lion. The animals are magnificent and unforgiving. Leveraged trading deserves the same distance at first: observe through the windscreen of a demo account, learn the behaviour and keep your hands inside the vehicle. When you eventually step out, do so with small size, a clear exit and someone watching your back. 🏞️

🍷 Winelands Patience

A vineyard in Stellenbosch measures progress in seasons. The best winemakers do not rush fermentation or pretend a bad harvest was a good one. Treat a trading journal like a harvest ledger: honest entries, no embellishment, lessons recorded. After a year of honest entries you will know more about yourself as a risk-taker than any course could tell you. 🍷

🚖 The Taxi Rank Test

Ask someone at a taxi rank how they manage money and you will hear practical rules: keep fuel money apart, never lend what you cannot lose, record every fare. These rules translate directly. Keep trading money apart from household money. Never lend your trading to friends. Record every trade. 🚖

🏘️ Stokvels and Savings Clubs

Stokvels teach collective discipline: a fixed monthly contribution, clear rules and trust earned by track record. If you belong to one, do not divert contributions to trading. Money pledged to a group belongs to the group. If members wish to explore trading together, they should do so on demo, with minutes and a vote before any live step, and with the legal and bank checks described above. 🏘️

🧮 A Second Cost Exercise in Rand

Open a demo and record, at your trading hours, the spread, commission and a one-night swap on your pair. Compute the cost of ten round trips of one micro lot and five overnight holds. Divide by your intended account in dollars. If the result exceeds two percent a month, your method must clear that hurdle before it earns a cent. Most beginners cannot, so reduce trades or lower costs. 🧮

🧾 Comparison Sheet You Can Copy

Columns: brand; legal entity for South African clients; FSP number; date checked on the FSCA register; licence categories; conditions; written confirmation that residents are accepted; leverage cap; negative-balance protection; minimum deposit; spread at 10:00, 15:00 and 21:00; commission; swap; deposit methods and fees; withdrawal methods, fees and time; support reply time; red flags. One row per firm. Empty cells in red. 🧾

🔔 Red Flags on a "Regulated" Page

An FSP number without a name. A name that does not match the register. An agreement with a different entity from the one advertised. Promises of guaranteed or risk-free returns. Pressure to deposit today. A claim that the FSCA "guarantees" your money. Support that refuses to name the entity. One flag deserves questions. Two deserve a pause. Three, walk away. 🔔

🌅 Weekly Habit and Quarterly Check

Every Sunday read your journal, count rule breaks, total costs and choose one change. Every quarter recheck the FSCA register entry for each firm in your sheet, reread the fee page and note any change of entity. 🌅

🧓 Retirement, Pensions and Leveraged Risk

If you are within a decade of retirement, the case against leveraged speculation is strong. Pension and provident-fund money is for decades of living, and a leveraged loss cannot be repaired by earning for another thirty years. If you wish to explore markets, set a tiny, separate sum that you decide in advance is gone, and leave your retirement funds alone. 🧓

🎓 Students, Bursaries and Early Careers

If you live on a bursary or a student loan, you have no spare money. Invest in skills: certifications, languages, programming. If you are curious about markets, a demo account and a library card are enough. Anyone offering a "quick path to rands" to students is selling something. 🎓

🧑‍🌾 Small Business Owners

Working capital belongs to the business: stock, wages, tax, UIF contributions and the slow month. Do not move it into leveraged products. If the business is seasonal, the slow season arrives whether or not a trade worked. 🧑‍🌾

📚 Free Learning That Works

The FSCA publishes consumer education material and warnings. The Reserve Bank explains how interest rates move the rand. Broker risk disclosures are free. Public libraries and university websites offer statistics and economics resources. Combine these with a demo and a journal. 📚

🕊️ Closing Conversation

Sipho: So the badge is only the start.

Thandi: Yes. The badge says someone should have checked. The register says someone did. Your questions say whether it fits you. If you do all three, you will already be safer than most. 🕊️

🎙️ Bonus Round — Sipho's Last Questions

Sipho: How long should I demo?

Thandi: At least a month, long enough to meet a quiet week, a news week and a losing streak. Keep the journal throughout.

Sipho: Can I use my phone only?

Thandi: For alerts, yes. For decisions, a laptop is better, since wrong-size clicks on a small screen are common.

Sipho: What if the FSCA register is down or confusing?

Thandi: Try again later, search by FSP number and name, and email the FSCA if needed. Do not proceed while you cannot verify.

Sipho: What if my friend already uses this broker?

Thandi: Ask him which entity he signed with, where he lives and how long he has used it. His answer may not apply to you.

Sipho: Is it better to start small or wait?

Thandi: Waiting is free. Starting small is cheap. Starting large is expensive. Choose in that order. 🎙️

❓ Frequently Asked Questions

Is forex trading legal in South Africa?

Providers of leveraged products need appropriate authorisation, and individuals must also respect exchange-control and tax rules. Confirm your position with an adviser.

How do I verify an FSP number?

Use the FSCA's online search for authorised providers, search by legal name and FSP number and check the licence categories.

Can I trade with a rand account?

Some South African entities accept rands. Others require dollars and an offshore payment. Check the cashier and your bank's rules.

🔥 Your next move: pick two firms from Q4, verify each entity on the FSCA register and send the five questions before you even think about a deposit.

📌 Important: CFD Risk Warning and Disclosure

CFDs and leveraged forex are complex instruments. Because you trade on margin, a small price move against you can remove a large part of your balance quickly, and a majority of retail traders lose money when trading CFDs. Before you open or fund any account, make sure you understand how leverage, margin, swaps and stop-outs work, and only trade with money you can afford to lose. Examples in this article are illustrations, not forecasts, and past performance is not a reliable guide to future results.

Disclaimer: this article is general information and education only. It is not financial, investment, tax or legal advice, and it is not a recommendation to open an account with any provider. Broker conditions, licences, payment methods and local laws change; confirm the current position on the broker's official website, with the relevant regulator and, where needed, with a qualified adviser.

🔗 Affiliate notice: we may earn a referral commission when readers open accounts via links here; your costs stay the same.