Home -
Original -
Main body -

WikiFX Express

XM
FXTM
IC Markets Global
EC markets
TMGM
FOREX.com
D prime
HFM
pepperstone
octa

High unemployment rate and rise in Forex trading in South Africa

WikiFX | 2022-04-11 11:54

Abstract:South Africa's unemployment rate currently stands at a whopping 35.3%, and it keeps getting higher. As a result, many people, especially the youth, are left desperately searching for alternative ways to make an income. And Forex trading has, over the past few years, become a popular solution. There are myriad reasons why forex trading is on the rise and why many are turning to it to battle unemployment.

img_v2_6c342b35-4529-4165-b98a-2ebed8247efg.jpg

South Africa's unemployment rate currently stands at a whopping 35.3%, and it keeps getting higher. As a result, many people, especially the youth, are left desperately searching for alternative ways to make an income. And Forex trading has, over the past few years, become a popular solution. There are myriad reasons why forex trading is on the rise and why many are turning to it to battle unemployment. South Africa has a very young population. Unemployment is highest among the youth. Young people are usually very open-minded to trying out new things, and they have a lot of time on their hands. Forex is open to everyone and has high-income potential. So it's a no-brainer with many young people dropping out of college to focus solely on trading.

Up until today, many black people are generally educated only up until high school. That means the black population is more likely to be stuck with low-paying manual jobs.

image.png

Forex trading has people lured by the high-income potential. And everyone wants in because learning is easily accessible through YouTube. Once in the game and making some profits, one can always afford paid courses and upgrade and refine their trading skills. Now compare that option with paying for college and employment after studying is not guaranteed. For many young people in South Africa, college is not an option. It's either they cannot go to college because they cannot afford tuition or their grades are too low to get admitted.

Furthermore, those that make it forex trading live flashy lives and flaunt it all on social media. Social media, in turn, gets more people rushing into forex under the impression that it is a get-rich-quick scheme. You can imagine being unemployed and seeing your old school buddies living the life and driving flashy cars. Surely it will get one curious enough to give trading a try.

Given all the points discussed above, one can safely conclude that the rise in forex trading was in part due to the high levels of unemployment among the youth.

image.png
Forex newsForex AnalysisForex tradingFSCA

Related broker

Unverified
trade245
Company name:Trade245 (Pty) Ltd
Score
2.02
Website:https://www.trade245.com/
5-10 years | Questionable Regulatory License | White label MT5 | High Potential Risk
Score
2.02
Unverified
CJC Markets
Company name:Carrick Just Capital Markets Limited
Score
1.59
Website:https://www.cjcmarketsglobal.com/
5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk
Score
1.59
Unverified
Veracity Markets
Company name:Veracity Markets (Pty) Ltd
Score
1.55
Website:https://veracitymarkets.com
5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk
Score
1.55
Not Regulated
Bexchange
Company name:BEXCHANGES SOLUTION LIMITED
Score
1.55
5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk
Score
1.55
Not Regulated
Vault Markets
Company name:Vault Markets
Score
1.51
Website:https://www.vault-markets.com/
5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk
Score
1.51

Read more

Indian Stocks Rally, but the Rupee Breaks a Six-Day Winning Streak—What's Behind the Sudden Reversal

Indian stock indices today, i.e., June 22, 2026, recorded growth, with the BSE Sensex rising 297.11 points to 77,094.07, recording a 0.38% jump. On the other hand, the NSE Nifty hit approximately 24100, largely aided by broad-based purchases across sectors, except for consumer durables and fast-moving consumer goods (FMCG). The Nifty grew by 89.80 points (0.37%+) to 24,102.90.

Original 2026-06-22 21:38

RoboForex Review 2026: Are Traders Losing Sleep Over Missing Funds? Details Inside!

RoboForex, a Belize-based forex broker, has been gaining traction not only due to its products and services but also massive user allegations, especially regarding fund withdrawal access. Users worldwide have reported their frustration over alleged missing funds, withdrawal denials, and a complete lack of customer support service online. If you are one of its clients and have faced similar issues, this article is meant specifically for you! In this RoboForex review article, we have examined several user-reported allegations. Additionally, we examined its regulatory status and regulatory scope. This helps provide a clearer picture of RoboForex.

Original 2026-06-22 20:00

Low Latency Trading: The Milliseconds That Can Make or Break Your Profits

Time is precious, more so in forex trading, where a millisecond delay can either make your winning position turn into a regretful loss or cut short your profit so much that it feels like a loss. While going through numerous user reviews, we often come across the disappointing experiences of slippage draining out their profits due to slow trade order execution. In this article, we have elaborated on low latency, its impact on your trading experience, a host of factors that determine it, etc.

Original 2026-06-19 21:16

Is plexytrade Losing Customer Trust? A 2026 Review of Pending Withdrawals & Account Suspensions

As we examine plexytrade, we come across attractive terms like opening the account with just $50 and enjoying 100% tradable bonus and 120% cash bonus. These terms can prompt anyone to open a plexytrade trading account. But as an informed trader, you need to go beyond these marketing terms. What is the real-time trading experience? Are users receiving the benefits as promised? The plexytrade reviews shared by users online indicate that not everything is good at this broker. Traders have claimed pending withdrawals, high slippage eating into their margins and unwanted account suspensions by the broker. In this article, we have examined user allegations as well as provide our in-depth perspective into the broker’s regulatory status.

Original 2026-06-19 18:58

WikiFX Express

XM
FXTM
IC Markets Global
EC markets
TMGM
FOREX.com
D prime
HFM
pepperstone
octa

WikiFX Broker

HFM

HFM

Regulated
FxPro

FxPro

Regulated
GTCFX

GTCFX

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
TMGM

TMGM

Regulated
IC Markets Global

IC Markets Global

Regulated
HFM

HFM

Regulated
FxPro

FxPro

Regulated
GTCFX

GTCFX

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
TMGM

TMGM

Regulated
IC Markets Global

IC Markets Global

Regulated

WikiFX Broker

HFM

HFM

Regulated
FxPro

FxPro

Regulated
GTCFX

GTCFX

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
TMGM

TMGM

Regulated
IC Markets Global

IC Markets Global

Regulated
HFM

HFM

Regulated
FxPro

FxPro

Regulated
GTCFX

GTCFX

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
TMGM

TMGM

Regulated
IC Markets Global

IC Markets Global

Regulated

Latest News

Making Sense of Central Bank News: How Revaluation, Interest Rates, and Reserves Move Currencies

WikiFX
2026-06-22 11:30

Five Chinese Fined RM4,000 Each for Promoting Cryptocurrency Investment Scheme in Malaysia

WikiFX
2026-06-22 15:26

FBS Review 2026: Is This Forex Broker Safe?

WikiFX
2026-06-22 16:00

Why Employment Data Releases Destroy Short-Term Forex Trades

WikiFX
2026-06-22 12:00

RoboForex Review 2026: Are Traders Losing Sleep Over Missing Funds? Details Inside!

WikiFX
2026-06-22 20:00

Indian Stocks Rally, but the Rupee Breaks a Six-Day Winning Streak—What's Behind the Sudden Reversal

WikiFX
2026-06-22 21:38

Amana Capital Review 2026: Regulation, Complaints, and Withdrawal Risks

WikiFX
2026-06-22 12:30

Review 2026: Regulation, Clone Warnings, and Withdrawal Complaints

WikiFX
2026-06-22 15:00

Review 2026: OROKU EDGE Regulation, Complaints, and Withdrawal Risk Signals

WikiFX
2026-06-22 15:00

Crude Rebounds Over Strait Closure

WikiFX
2026-06-22 12:00

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Reluxtrading Firm

Reluxtrading Firm

GLOBAL FOREX FX

GLOBAL FOREX FX

XPRO MINING POOL

XPRO MINING POOL

SUMMITTRADEPRIME

SUMMITTRADEPRIME

PRIMEHUBAI

PRIMEHUBAI

EMFXPROMARKETS

EMFXPROMARKETS

EVER IA

EVER IA

RADIANCE MARKETS

RADIANCE MARKETS

Crypto Prime Hubs Ltd

Crypto Prime Hubs Ltd

Valnexisglobalcapital

Valnexisglobalcapital