Forex trading in South Africa is legal, with the only condition being that the actions or practices by forex traders should not deviate into criminal activity.
Forex trading in South Africa is legal, so much so that the country is believed to be one of the epicentres for forex traders, especially those looking to break into the African market.
The country has witnessed an influx of forex trading companies and entities, legal and otherwise, in recent years, to the point that on social media, promotional messages on forex trading are considered spam.
While forex trading is legal in the country, the condition is that it should not contravene any laws in the country.
The nature of forex trading has many loopholes, therefore, companies of this nature easily fall prey to illegal actions of money laundering and insider trading. If found guilty of any of these acts, the accused trader or entity will face jail time.
Moreover, despite forex trading being legal, it is important that forex companies are registered. Forex trading companies operating without the correct documentation will also face legal consequences.
