Exness

Is Exness a South African Broker? Regulation, Local Entity & Trading Guide

Is Exness a South African broker? A detailed guide to the FSCA-authorised local entity, rand accounts, deposits, exchange control, tax, scams and how to verify your own contract.

⚠️ Legal and risk notice for South African readers. This guide is general information, not financial, legal or tax advice. Leveraged CFDs are high-risk products and many retail clients lose money. Exchange-control and tax rules change, so confirm your position with your bank, a registered tax practitioner or an authorised adviser before you move money offshore.

Searching for "is Exness a South African broker" usually means one of three worries. Is there a real local company I can hold accountable? Is that company licensed by the Financial Sector Conduct Authority (FSCA)? And can I fund and trade in rand without running into problems with my bank or SARS? This guide answers each question in turn, in the order a careful Mzansi trader would ask them. 🇿🇦

Want to see the registration flow while you read? You can Start your Exness registration and choose South Africa as your country, select South Africa as your country, and read the client agreement that appears. The name on that agreement is the answer that matters.

🧭 The Straight Answer in Five Lines

🏢 Exness operates through a group of companies, and for South African residents the contracting company is described by Exness as its South African entity, Exness (ZA) (Pty) Ltd.
🏛️ Exness states that this entity is an authorised Financial Services Provider (FSP) supervised by the FSCA. Confirm the FSP number on the FSCA's public register.
💵 Rand (ZAR) is a supported account currency for the local setup, which can reduce conversion costs on deposits and withdrawals.
🧾 Local rules for retail clients, such as leverage caps and risk disclosures, follow the regulator's requirements and can be stricter than on the group's offshore entities.
⚠️ Being authorised does not remove market risk. CFDs can lose money quickly.

🔍 What "South African Broker" Can Mean

The phrase is used loosely. Think of four different meanings, and ask which one you care about:

Headquartered in South Africa. Exness's group centre is in Cyprus, so in this sense it is not a South African company.
Has a licensed local entity. Exness says it has one, authorised by the FSCA. This is what most people mean.
Serves South African residents. Yes, South Africa is among the countries the company serves, subject to its own acceptance rules.
Is JSE-listed or part of a local bank. No. Exness is a private international group.

Understanding which meaning you need prevents disappointment. For regulation purposes, meaning two is the useful one.

🏛️ The FSCA, in Plain Language

The Financial Sector Conduct Authority supervises financial services firms in South Africa, including those that offer over-the-counter derivatives such as CFDs to retail clients. A firm that provides financial services must be licensed as an FSP and must follow conduct rules, such as treating clients fairly, giving appropriate disclosures, keeping client money separate and reporting to the regulator.

What the FSCA licence generally gives you:

📜 A public FSP number and list of authorised product categories.
🧾 Conduct rules that govern how the firm sells and communicates.
🛡️ Segregation of client funds requirements for firms that hold client money.
⚖️ A route to complain to the Ombud for Financial Services Providers (FAIS Ombud) where the firm falls under its jurisdiction, after the internal complaints process.
🚨 Public warnings about unlicensed operators.

What it does not give you: protection against losses on your trades, or a guarantee that any firm will never make an operational mistake.

📝 How to Verify Exness (ZA) Yourself in Six Steps

🌐 Start registration on the official Exness website and select South Africa as your country of residence.
📄 Read the first page of the client agreement and write down the exact company name.
🔎 Open the FSCA website and use the "Search an FSP" function. Enter the company name or the FSP number printed in the legal footer.
✅ Check that the status is authorised/active and that the product categories include derivative instruments for retail clients.
🌍 Check that the website address listed on the register or the company's legal documents matches the domain you are using.
📸 Save screenshots of the agreement and the register entry. Store them with your records.

This process takes ten minutes and works for any broker, not only Exness. For a comparison with another FSCA-linked firm, you can Look at FP Markets, another FSCA-linked broker, for comparison and repeat the same steps.

💵 Trading in Rand: What to Expect

A rand-denominated trading account means your balance, profit and loss are shown in ZAR. Benefits and cautions:

✅ You avoid converting rand to dollars at deposit and again at withdrawal on every cycle, though conversion can still occur inside the platform when you trade pairs not quoted in rand.
✅ Profit and loss are easier to understand in the currency you spend.
⚠️ Rand is volatile. If you trade a dollar-quoted instrument from a rand account, the rand value of each pip depends on USDZAR, so the same position can have different rand value over time.
⚠️ Spreads on ZAR pairs are wider than on major pairs, and liquidity thins at night.

Calculate risk in rand before you click: "If my stop is hit, I lose R___." If the number makes you uncomfortable, reduce the position.

🏦 Deposits and Withdrawals for South Africans

Payment methods change over time, but the options normally include card payments, bank transfers, e-wallets and some local routes. Rules of thumb:

👤 Use payment accounts in your own name. Third-party payments are a common cause of blocked withdrawals.
🔁 Withdraw back to the method you used to deposit, where possible.
🪪 Complete verification early. Proof of identity (green barcoded ID, smart ID card or passport) and proof of residence (a recent utility bill or bank statement) are standard.
💱 Check bank fees. Some banks charge for international card payments or foreign exchange transactions.
⏳ Test with a small amount first and note how long it takes.

Keep all receipts. They may be needed for tax records and for any query with your bank.

🌍 Exchange Control: What to Think About

South Africa operates exchange controls administered by the South African Reserve Bank. Individuals who are tax resident generally have annual allowances for sending money abroad, such as a single discretionary allowance and a foreign investment allowance that may require tax compliance status approval for larger amounts. Allowances and procedures are updated from time to time.

Two practical conclusions:

Ask your bank which allowance a deposit to an overseas broker uses, and how to record it correctly. Do not guess.
Never use informal routes or third-party individuals to move funds. They create legal and fraud risk.

If you fund a local-entity account in rand through a local route, the transaction may follow a different path than a foreign card deposit. Do not assume; check the instructions in your client area and confirm with your bank if unsure.

💼 Tax on Trading Profits

Whether profits are taxed as revenue (income) or as capital gains depends on facts such as intention, frequency and holding period, and the South African Revenue Service (SARS) looks at the whole picture. Frequent trading with the intention to profit from short-term price changes tends to be treated as revenue in nature. Practical tips:

🧾 Keep monthly statements, a trade history and records of deposits and withdrawals.
📅 Declare in your annual return as advised by your tax practitioner.
💬 Ask a registered practitioner about provisional tax if trading is significant.
🧮 Understand that losses may be treated differently from gains.

Do not rely on forum posts for tax. The rules are technical, and personal circumstances differ.

🧱 Account Types Available and How to Pick

Typical account types include Standard, Standard Cent, Pro, Raw Spread and Zero. Availability, minimum deposits and conditions can vary for the South African entity. General guidance:

🟢 Standard for simple costs and a low entry point.
🪙 Standard Cent for practice with minimal real exposure.
🔵 Pro for experienced traders with larger deposits.
⚡ Raw Spread / Zero for active traders comfortable with commissions.

Open a demo for any account type you consider, measure spreads at your usual hours (for example the London session morning, which overlaps with South African business hours), and compare total cost per trade.

⚖️ Leverage Rules and Why They Matter

Retail leverage for regulated local clients can be capped lower than the extreme figures advertised for offshore setups. Lower leverage forces you to size positions more carefully, which is a benefit for most beginners. If you see a broker advertising very high leverage to South African clients without clear mention of the local entity and rules, ask which entity the account sits under, because leverage and protections go together.

🚨 Scam Patterns Targeting South African Traders

📲 WhatsApp and Telegram "mentors" who promise guaranteed returns and ask you to deposit through a link.
🪞 Clone sites with a domain that looks similar to a real broker.
🧑‍💼 "Account managers" who contact you first and offer to trade for you.
💳 Recovery scams that charge a fee to recover lost funds.
🏆 Fake trading competitions and signal subscriptions.
📞 Impersonation of regulators, claiming that you must pay a "release fee".

The FSCA publishes warnings and lists of unlicensed entities. Before sending money anywhere, check the company's name and FSP number on the register.

🛠️ Platforms and Tools for Trading From South Africa

Exness offers MetaTrader 4, MetaTrader 5, the Exness Terminal (web) and mobile apps for Android and iOS. For South African traders, some practical considerations:

📶 Connectivity. Load-shedding and unreliable mobile data are real. Keep a backup power source for your router or a power bank for your phone, and never leave leveraged positions open without stop-loss orders if your connection or power might fail.
🖥️ Virtual private servers. If you run automated strategies, a VPS reduces the risk of disconnection from outages at home.
📱 Mobile app as a backup. Install the app and test your login before you need it in an emergency.
🔐 Security. Use a unique password, two-step verification, and do not log in on shared computers.

A simple contingency plan helps: write down how to close all positions from your phone, and practise it on a demo account.

🕒 Trading Hours That Suit South African Time

South Africa Standard Time (SAST) does not change with the seasons. Forex markets open on Sunday evening (around the Sydney open) and close on Friday night. Useful windows for locals:

🌅 Early morning: Asian session in its late stage, often quieter.
☀️ Mid-morning to afternoon: the London session opens, with higher volume on EUR and GBP pairs.
🌇 Afternoon to evening: the New York session overlaps with London, usually the busiest period with major US data at 14:30 or 15:30 SAST depending on US daylight saving.
🌙 Late night: thinner liquidity and wider spreads, with risk of sudden spikes.

Many working South Africans trade the morning and afternoon overlaps in short sessions and avoid late-night trading when fatigue raises error rates.

💱 ZAR Pairs: Opportunity and Danger

USDZAR, EURZAR and GBPZAR are popular among local traders. Characteristics:

📉 High volatility driven by commodity prices, global risk appetite, local politics, credit rating news and Reserve Bank decisions.
💸 Wider spreads than major pairs, and bigger gaps at the open.
🌐 Event sensitivity: budget speeches, inflation data, SARB announcements and global sentiment shifts.
🧮 Swap costs: carry trades involving the rand can generate large swaps in either direction.

If you trade ZAR pairs, use smaller positions than on majors, check the spread before entering, and be aware of weekend gap risk.

📊 A Worked Rand Example

Suppose you have a R10,000 account and decide to risk one percent per trade, or R100. You plan a trade on EURUSD with a stop of 20 pips. If the pip value for a 0.01 lot is about R1.80 (a rough, illustrative figure that depends on USDZAR), then:

Risk per 0.01 lot at 20 pips = 20 × R1.80 = R36.
To risk about R100, you could take roughly 0.02 to 0.03 lots, so you would round down to 0.02 lots (about R72 at risk).

The exact value depends on the exchange rate and the pair. Many platforms show a calculator, and you should always check the specification before trading. The key principle is to calculate risk in rand and not in lots.

🧪 How to Test Exness as a South African Trader in 14 Days

Days 1–3: Setup

Register, verify and read the client agreement. Verify the entity on the FSCA register.
Open a demo and an optional small live account.

Days 4–7: Demo practice

Trade a simple strategy, measure spreads at different times, record fills and slippage.

Days 8–10: Money flow

Make a small deposit using your regular method. Record fees from your bank and processing time.
Place minimum-size trades.

Days 11–12: Withdrawal test

Request a small withdrawal. Note the time it takes to reach your account.

Days 13–14: Review

Compare costs with another broker's demo, review your journal and decide whether to continue.

🧯 Risk Management Rules for Local Traders

Risk one percent or less per trade while learning.
Always attach a stop-loss.
Cap daily losses at two percent and stop for the day when reached.
Avoid holding through high-impact news unless you planned for it.
Do not trade with money needed for rent, school fees, debt repayments or emergencies.
Keep a trading diary and review weekly.
Withdraw profits periodically.

🧠 Psychology: The Mzansi Context

South Africans face economic pressure, and forex marketing often targets hopes for fast income. Be honest about motives: if you need quick money to cover urgent bills, trading is not the answer, because pressure leads to oversized trades and impulsive decisions. Treat trading as a skill that takes time to build, expect to lose some money while learning, and treat early funds as education costs, not as income. If you find yourself borrowing, using money meant for essentials or hiding losses from family, stop and seek support. Organisations such as the South African Depression and Anxiety Group provide help for financial stress.

🧩 FAIS, FSPs and Terms You Will See

FSP: Financial Services Provider, a firm licensed under FAIS.
FAIS: the Financial Advisory and Intermediary Services Act, the conduct law for advice and intermediary services.
Representative / key individual: staff approved under the licence.
OTC derivatives: over-the-counter derivatives, a category that includes CFDs.
FAIS Ombud: a body for resolving complaints against FSPs.
KYC / FICA: identity and address verification required by the Financial Intelligence Centre Act.

Knowing these terms helps when reading the client agreement and communicating with the regulator.

🧾 What FICA Means for You

Under FICA, financial institutions must verify the identity and residence of clients and monitor transactions for money-laundering risk. For a trader this means: provide clear scans of your ID and proof of address, use payment accounts in your own name, and expect extra questions on large or unusual deposits. This is a standard requirement and not a sign of distrust. Refusing to complete verification only delays withdrawals.

🆚 Local Entity Versus Offshore Entity: A Side-by-Side Look

Many South African traders have heard that "Exness offers 1:2000 leverage" and then wonder why their account shows less. The reason is usually the contracting entity. Here is a conceptual comparison, which you should verify against current documents:

Local FSCA-authorised entity: conduct rules, regulator oversight, disclosures, likely lower maximum leverage, local complaint routes and a legal framework you can understand.
Offshore entity: a different regulator or a lighter regime, potentially higher leverage, fewer compensation routes and a legal framework that is harder to use if something goes wrong.

Neither is "good" or "bad" in a vacuum. The local route is generally better for investor protection, while the offshore route is generally more flexible but riskier. The sensible approach is to know which one you are using and why. If someone suggests you register under another country to get higher leverage, ask whether that is lawful for you and whether you would be comfortable with the reduced protections. Remember that using inaccurate residence information to open an account can lead to a frozen balance.

🔬 Reading the Risk Disclosure Like a Professional

The risk disclosure document is not decorative. Read it with a pen. Underline the percentage of retail clients who lose money (regulated firms must publish it), the statements about leverage and margin calls, the section on conflicts of interest, and the sections on slippage and gaps. Then ask yourself: "Could I accept a total loss of the money I plan to deposit?" If the honest answer is no, reduce the deposit until the answer is yes. This one habit prevents more financial pain than any strategy.

💬 Communicating With Support From South Africa

Support is available in multiple languages and through chat and email. For useful answers:

📝 State your account number and entity.
🕒 Mention date, time and time zone (SAST) when reporting an issue.
📸 Attach screenshots with sensitive data covered.
📌 Ask for a reference number and keep the transcript.
🧠 Ask precise questions, such as the swap on a symbol or the processing time for a method.

If a response is vague or inconsistent, politely ask for clarification in writing.

🧾 Documents Checklist Before You Deposit

✅ ID document (green barcoded ID, smart ID card or passport), clear and valid.
✅ Proof of residence, recent and in your name.
✅ Bank account or card in your name.
✅ Tax number, if required for any tax-related declarations.
✅ Screenshots of the client agreement and the FSCA register entry.
✅ A note of your risk rules and maximum deposit.

🛡️ Practical Safety Habits

🔑 Use a unique, long password and a password manager.
📲 Enable two-step verification on your trading profile and email.
🌐 Type the website address yourself or use a saved bookmark.
🚫 Never share one-time codes, passwords or remote access.
📵 Treat messages from "support" on social apps as suspicious. Use the official channels only.
🧯 Keep only the funds you need on the platform and withdraw profits.

🧮 Cost Check: Where Your Money Really Goes

Beyond spreads and commissions, South African traders should add up:

Bank charges on international card payments or forex transactions.
Spread of conversion between rand and the platform's currency, if applicable.
Swap on overnight positions.
Fees charged by e-wallets or payment providers.
Taxes on profits.

A trader who earns a gross profit of R2,000 and pays R300 in conversion and bank fees has a different net result from the one shown on the platform. Keep a monthly record of net results after all costs.

🌦️ Market Behaviour Around South African Events

Local events can move rand pairs: the Medium-Term Budget Policy Statement, the national budget, SARB interest-rate decisions, inflation releases and credit-rating announcements. Global events, such as US inflation data, Chinese growth numbers and commodity price swings, also matter because South Africa is a commodity exporter. Plan your trading calendar around these dates, reduce size on high-impact days, and watch for wider spreads.

🏁 Putting It Together: A Decision Path

Confirm that Exness serves South African residents and which entity you will contract with.
Verify the FSP status on the FSCA register.
Read the client agreement, risk disclosure and execution policy.
Check deposit and withdrawal routes with your bank, and ask about exchange-control reporting.
Open a demo and test costs at your usual trading hours.
Start with a small live deposit, trade the minimum size, and run a withdrawal test.
Keep records for tax and review monthly.
Scale only if your results, and the company's conduct, justify it.

When you reach step five, you can Open the Exness demo and test rand-based trading without risk and measure rand-based trading costs without any financial risk.

👩‍💼 Four South African Trader Profiles and Their Best First Steps

The student with a small budget

A university student with R1,500 to spare wants to learn. The temptation is to chase fast profit with large positions. A better path: open a demo, practise for at least a month, then move to a cent or standard account with the smallest volume. Treat every rand lost as tuition, set a hard monthly cap on deposits and avoid borrowing. The goal is skills, not income.

The salaried professional trading after work

A professional with a steady job has capital to invest but limited time. The best fit is a swing-trading approach that checks charts at set times, uses pending orders and avoids news spikes during work hours. Position sizes should be small relative to the account, with stop-losses always in place, since you cannot watch the screen. Keep records for tax, and consider speaking to a tax practitioner about provisional tax if profits become material.

The small-business owner using forex to hedge

A business that pays suppliers in dollars might consider currency exposure. CFD trading is a speculative product, not a replacement for a proper hedging solution through the business's bank. Discuss genuine hedging needs with a bank or treasury adviser, and treat any CFD activity as separate speculation with strict limits.

The retiree curious about extra income

Retirees should be especially careful. Leveraged CFDs can cause rapid losses, and capital is hard to rebuild after retirement. If curiosity is strong, use a demo and a very small amount that could be lost entirely without affecting living costs, and speak to a registered financial adviser about more suitable options for income and capital preservation.

📈 Example Weekly Plan for a Working South African

Sunday evening: check the economic calendar, note major events for the week (SARB, US data) and mark levels on higher-timeframe charts.
Weekdays 09:00–11:00 SAST: the London open, a good window for focused trading. Maximum two trades.
Weekdays 15:30–17:00 SAST: the New York overlap, only on days without a major release you cannot handle.
Evening: update the journal with screenshots and notes.
Friday afternoon: reduce size, avoid starting new positions late and review the week.
Saturday: read your journal, compute the weekly result in multiples of risk and choose a single improvement.

A plan like this prevents overtrading, which is the silent killer of small accounts.

🔍 How the FSCA Warning List Can Protect You

The FSCA publishes warnings about entities that operate without authorisation, including clones that use names similar to licensed firms. Make a habit of searching the regulator's site for the name of any company before you deposit. Also search for the exact website address. If a firm appears on a warning list, stop. If a firm claims to be authorised but cannot give an FSP number, stop. If the FSP number belongs to a different company name, stop. These three checks are fast and have saved many people from losing their savings.

📚 Extra Resources Worth Bookmarking

The FSCA website: register search, warnings and consumer education material.
The FAIS Ombud website: information on complaint procedures.
SARS eFiling: for tax queries and returns.
Your bank's international payments page: allowances and forms for sending money abroad.
The official Exness legal documents page: client agreement, risk disclosure, execution policy.

Bookmark them in one folder named "Trading admin", and read them again at least once a year.

🧭 Common Mistakes Made by South African Beginners

Trading with money meant for essentials. Rent, school fees and debt repayments must never be placed at risk.
Using the highest leverage available. A high ceiling is not a target. Size positions from your stop distance.
Following WhatsApp "signal" groups. Many are scams or have undisclosed commission arrangements.
Ignoring load-shedding risk. A power or data outage with open leveraged positions and no stop-loss can be costly.
Skipping tax records. Years later, reconstructing trades is difficult and stressful.
Chasing losses. After a bad day, the urge to "win it back" leads to larger positions and worse decisions.
Switching strategies every week. Real evaluation needs dozens of trades with the same rules.
Believing guaranteed-profit claims. No legitimate provider can promise returns.

🧱 A Simple Risk Calculator You Can Build in a Spreadsheet

Create four cells: account balance in rand, risk percentage, stop distance in pips and value of one pip per lot in rand. Then compute risk in rand as balance multiplied by risk percentage, divide by stop distance times pip value to get lots, and round down to the nearest allowed lot step. Fill in a few scenarios, for example R5,000 at one percent with a 25-pip stop, and R20,000 at half a percent with a 40-pip stop. Seeing the lots change with the stop distance teaches you why a wider stop requires a smaller position, and it makes sizing a habit instead of a guess. Update the pip value whenever USDZAR moves materially, since it changes the rand value of dollar-quoted pips.

🪙 What About Cent Accounts for South Africans?

Cent accounts count money in cents, which allows trading with a very small deposit and tiny effective position sizes. For a South African beginner, this can be a safe way to experience real execution and emotions at minimal cost. The cautions are that cent accounts are for learning, not for building large capital, that spreads may be proportionally larger, and that the habits you form must carry over to a standard account with correct sizing. If you use a cent account, still follow the same rules: stop-loss on every trade, limited trades per day and a journal.

🗺️ When It Makes Sense to Walk Away

Walk away from any provider, including a well-known one, if you cannot verify the entity, if withdrawals are repeatedly delayed without a clear reason, if you are pressured to deposit more, or if you feel your trading has become compulsive. Walking away early costs little. Staying out of stubbornness can cost much more. Keep copies of every document and chat, and if you suspect misconduct, report it to the FSCA and seek independent legal advice.

🧾 A Short Glossary for South African Readers

ZAR: the South African rand, the account currency many local traders prefer.
SAST: South Africa Standard Time, UTC+2 all year.
SDA: single discretionary allowance for sending money abroad, subject to current rules.
FIA: foreign investment allowance, which usually requires tax compliance approval.
AIT: approval for international transfer, issued through SARS for certain larger foreign transfers.
Pip: the standard small price increment in most currency pairs.
Lot: the standard trade-size unit.
Drawdown: the fall from a peak in account equity to a later low.

Knowing these terms makes conversations with your bank, your tax practitioner and the broker's support far more productive, and it prevents misunderstandings that cost time and money. If any term is unfamiliar when you read a document, ask for an explanation in writing before you proceed with a deposit or a trade.

❓ Frequently Asked Questions

Is Exness a South African company?

The group is headquartered in Cyprus. Exness states that South African clients are served by a local entity, Exness (ZA) (Pty) Ltd, which it says is authorised by the FSCA. Check the register to confirm.

Is Exness regulated in South Africa?

The company says its local entity is an authorised FSP. Verify the FSP number, status and permissions on the FSCA website.

Can I trade with rand?

A ZAR account currency is offered in the local setup according to the company's information. Check availability in your client area.

Is forex trading legal in South Africa?

Trading is allowed through authorised providers, subject to exchange-control and tax rules. Promoting or providing services without a licence is not allowed.

Do I need to tell SARS about my profits?

Taxable income must be declared. Consult a registered tax practitioner about your situation.

How do I send money abroad to an offshore broker?

Ask your bank which allowance applies and what reporting is required. Do not use informal channels.

What is the minimum deposit?

It depends on account type, payment method and entity. Check the official site for current figures.

Can I lose more than I deposit?

The regulatory framework and client agreement for your entity determine protections. Read the sections on negative balances and stop-outs.

What if I think I've been scammed?

Stop sending money, keep evidence, report to the relevant authorities, and contact the FSCA. Beware of recovery scams.

Is the demo account free?

Yes. A demo uses virtual funds. Real conditions may differ slightly.

🔒 Final Safety Reminder

Be careful with anyone who contacts you first, anyone who promises guaranteed returns and anyone who asks you to move money through an individual. Use only the official website and the regulator's register for verification. Start small, keep your stop-loss in place and never trade with money you cannot afford to lose.

🎯 The Takeaway

Is Exness a South African broker? It is an international group with a stated FSCA-authorised local entity serving South African residents. That gives you something concrete to verify and a regulator to turn to, but it does not remove market risk or the need for discipline. Verify the entity, understand exchange-control and tax rules, test with a demo and a small withdrawal, and trade small.

🔥 Your next move: open the FSCA register in one tab and the client agreement in another, and confirm the FSP details today. Then place your first trade on a demo. Preparation done right now will protect your rand for years. 🇿🇦

*Educational information only; not financial, tax or legal advice. Conditions, licences and rules change. Confirm every detail with official sources.*

📌 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.