Home -
Original -
Main body -

WikiFX Express

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

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
CJC Markets
Company name:Carrick Just Capital Markets Limited
Score
1.58
Website:https://www.cjcmarketsglobal.com/
5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.58
Unverified
Veracity Markets
Company name:Veracity Markets (Pty) Ltd
Score
1.54
Website:https://veracitymarkets.com
5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.54
No Regulation
Bexchange
Company name:BEXCHANGES SOLUTION LIMITED
Score
1.54
5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.54
Unverified
trade245
Company name:Trade245 (Pty) Ltd
Score
1.53
Website:https://www.trade245.com/
5-10 years | Suspicious Regulatory License | High potential risk |
Score
1.53
No Regulation
Vault Markets
Company name:Vault Markets
Score
1.50
Website:https://www.vault-markets.com/
5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.50

Read more

FortressFX Review: Examining Reported Withdrawal Denials, Slippages & Account Blocks

Did you have to wait for a considerably long period to access fund withdrawals from FortressFX, a Comoros-based forex broker? Instead of processing your withdrawal request, did the broker block your account and prevent you from accessing your MT5 login? Have you faced a deposit credit failure on the FortressFX login? Are heavy slippages causing you massive capital losses? Many traders seemed to resonate with these issues by commenting about them on broker review platforms. In this FortressFX review article, we have investigated many complaints against this broker. Read on to know about these.

Original 2026-03-12 21:20

Eightcap Legitimacy Check: Addressing Fears About a Regulated but Controversial Broker

When you search for a broker, your main question is simple: "Is my capital safe?" For Eightcap, the answer is complicated. This article provides a complete, unbiased investigation into whether Eightcap is a legitimate broker or a scam to avoid. We will analyze verifiable data from third-party sources to give you a clear, evidence-based conclusion. While Eightcap is a highly regulated broker operating under multiple top-tier authorities, it also faces a significant number of serious user complaints that cannot be ignored. This creates a picture of a broker that is fundamentally legitimate but potentially carries operational risks. To provide the clearest picture, we're analyzing the latest data from WikiFX, which gives Eightcap a score of 7.48/10 but also flags it for a high volume of user complaints. Read on for more updates.

Original 2026-03-12 19:15

Eightcap Review 2026: A Trader's Complete Guide to Its Strengths, Weaknesses and Warning Signs

Eightcap shows itself as an established worldwide Forex and CFD broker that started in Australia in 2009 and now helps clients around the world. Any trader's main question is whether they can trust it and rely on it. At first glance, the broker seems strong, but looking closer shows an important problem. It has licenses from top regulators, but at the same time, it has many serious complaints from users and official risk warnings. This mixed situation shows in its WikiFX score, which is currently 7.48 out of 10. This score has been lowered because of the many negative user reports. For any trader thinking about using this platform, understanding this main problem is very important. This review will examine its regulation, trading conditions, and real user feedback to give a clear answer. To see the newest user feedback and detailed scoring, you can view Eightcap's complete profile on WikiFX.

Original 2026-03-12 18:33

Managing Your Funds with Finalto: A Complete Guide to Deposits & Withdrawals

When choosing a broker, the most important question for any trader is: "How easy and safe is it to deposit and withdraw capital with Finalto?" How well a broker handles your capital and keeps it secure are essential factors that show whether you can trust it. This guide will give you a clear, detailed look at how Finalto handles deposits and withdrawals. Our review is based on verified regulatory information and real user experiences from 2025. We will look at the different methods, how fast they work, and what problems you might face. The key to safe trading is doing your research, especially checking if a broker is properly regulated, since this directly affects how safe your capital is. For any broker, you should always verify its claims. Before moving forward, traders should always use an independent checking platform. For a detailed check on Finalto's current status and regulatory licenses, platforms such as WikiFX are a must-have resource.

Original 2026-03-12 17:39

WikiFX Express

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

WikiFX Broker

EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
D prime

D prime

Domestic Regulation
STARTRADER

STARTRADER

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
AVATRADE

AVATRADE

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
D prime

D prime

Domestic Regulation
STARTRADER

STARTRADER

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
AVATRADE

AVATRADE

Regulated

WikiFX Broker

EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
D prime

D prime

Domestic Regulation
STARTRADER

STARTRADER

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
AVATRADE

AVATRADE

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
D prime

D prime

Domestic Regulation
STARTRADER

STARTRADER

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
AVATRADE

AVATRADE

Regulated

Latest News

Middle East Geopolitical Crisis Triggers Energy Supply Disruption and Risk Repricing

WikiFX
2026-03-10 12:40

Goldman Sachs: Qatari LNG Disruption to Persist Beyond Expectations

WikiFX
2026-03-10 13:30

AI Infrastructure Enters Dual-Growth Cycle Amid Supply Chain Volatility

WikiFX
2026-03-10 13:00

Crude Oil Rally Recedes as APAC Markets Stage Rebound

WikiFX
2026-03-10 13:50

Can Traders Still Trust Their Forex Broker?

WikiFX
2026-03-10 13:40

IQ Option Review: The High-Stakes Game Where the Only Winner is the House

WikiFX
2026-03-10 14:00

Geopolitical Risk Reshapes Energy and Equity Markets: The 'Trump Playbook' in Focus

WikiFX
2026-03-10 14:30

traze Review 2026: Trading Conditions, Regulation & Real User Feedback

WikiFX
2026-03-10 18:20

7 Clear Signs You’re Ready to Enter Forex Market in 2026

WikiFX
2026-03-10 18:00

Cyprus Turns Market Abuse Whistleblowing Into Hard Law

WikiFX
2026-03-10 16:01

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

MT5EXPO

MT5EXPO

Fxcompliance

Fxcompliance

Pythagon Expert Option

Pythagon Expert Option

GLOBAL TRADE ASSETS

GLOBAL TRADE ASSETS

Viveifinservices

Viveifinservices

FUBON

FUBON

Billion Capitals

Billion Capitals

GFX

GFX

Central Tanshi

Central Tanshi

HouseCapital

HouseCapital