According to research in South Africa, IQ Option is a financial services provider based in Cyprus and managed and owned by IQ Options Europe Ltd. As an online trading platform IQ Option first went live in 2013 and provides financial services to clients from the European Economic Area (EEA) under the CIF license #247/14. Currency, taxes and regulations for Forex trading South Africa. South Africa’s rand (ZAR symbol) – is in 20th place ranked by the Bank of International Settlements in accordance with the average daily volume and turnover among other currencies of the Forex market. Yet, it’s completely unnecessary to trade a national currency. Summary. Developed in 2013 by IQ Option Europe Ltd, IQ Option is a custom-built online trading platform that enables customers to trade a variety of financial assets and instruments such as options, stocks, Forex and Cryptocurrencies. IQ Option has rapidly become one of the most popular trading platforms for traders across the world with over 48,000,000 registered users and over 1,000,000 transactions per day. IQ Option accepts traders from over 213 countries including India, Nigeria, South Africa, The Philippines, Malaysia, Pakistan, Singapore, and many more. IQ Option brokerage belongs to the category of binary brokers who offers trading services on South African market. IQ Option South Africa is present on the financial market from 2013 and allows residents of the country to deposit and withdraw money using their local banks, making money transfers with the broker easier for South Africans. IQoption South Africa is a broker who uses its distinctive customised binary options as a trading platform. Understand that this Broker was invented in 2012 and since then, has gained popularity among a large number of investors. Trade Now. GlobeX360 . Globex360 is an online trading provider with a primary focus on the continent of Africa. Globex360 is regulated by the Financial Sector Conduct Authority in South Africa, also known as (FSCA). Globex360 has a global presence with financial partners situated in South Africa, Kenya, Botswana, Nigeria, Chile, and Australia. Pros Like the other top trading platforms, IQ Option involves a good number of reputable regulations from top regulatory bodies. This enhances its reputability as well as allows for traders from many parts of the world, very much including South Africa, to join in the action. Also, many people wonder is Forex trading legal in South Africa? yes, trading Forex is legal, too, unless you get involved in money laundering or you avoid the declaration of your income tax. Furthermore, South Africa has its own Financial Sector Conduct Authority which acts the regulatory body for the Forex brokers, as well. It is legal to trade Forex in South Africa as the South African Government doesn’t have any laws governing the legality. The South African Reserve Bank control international monetary exchange overseeing outgoing cash-flow from the country (1).Trading Forex is legal as long as you abide by financial laws that prevent money laundering (2) and you declare your income tax.
[index]