FBK Markets is a CFD broker in South Africa, that opened in January 2022. Their website is still live as of March 2023.
Official address is: 1 Chadwick Ave, Wynberg, Sandton, 2090 South Africa. Contact phone number is: +27 (0) 877029234 and the customer service email address is: [email protected]. Brokers official website is: https://FBKmarkets.com/.
For withdrawal problems or broker complaints, read this.
FBK Markets Review
Our review of the broker at FBK Markets shows that they are using the classic MT4 trading platform. Their trading platform is either a web-based app, or you can download the desktop version. You will also find the standard MT4 mobile trading apps for Android and Apple.
FBK Markets offers their day traders / investors a full list of underlying assets for CFD trading including; Major and Minor Forex Pairs, Market Indexes, Shares, Commodities, Crypto Currency and Metals. The minimum deposit requirement for a standard trading account is R100. Clients have a choice of two account types; Standard Account or ECN Account. This broker accepts deposit via OWOW or bank transfer. Margin / Leverage rates are between 100:1 and 1000:1.
When comparing brokers, many of the large and established companies, offer their own proprietary trading apps that are easier for a new day trader to use, read more.
Is FBK Markets a Regulated Broker?
FBK Markets SA (Pty) Ltd is now a Juristic Representative of RocketX (Pty) Ltd. Previously their were a juristicĀ representative of RCG MARKETS (Pty) Ltd. RocketX is an FSCA regulated broker in South Africa with FSP license number 52142.
The way that sophisticated investors research their online broker, is by checking for a valid brokerage firm license. And the reason for that, is in the event that the broker does not give you your money back, your money is protected by the government. In the United Kingdom, brokers must be regulated by the FCA, and in Australia by ASIC.
There are many licensed Forex brokers who you can trade with, see here.
Warning – Fake Forex Traders!
Many South African’s get hooked on Forex trading via a promoter they found on TikTok or Telegram. Many people setup fake accounts on TikTok, and show off a flashy lifestyle that they attributed to their success in Forex trading.
From a deposit of R3000 to a profit of R52000 in 3 hours using the Nasdaq signal.
https://www.facebook.com/DjCoachSA
Before following a Crypto or Forex trader, you need to understand that many managed account schemes online are actually frauds! They are setup as Introducing Brokers, and many of them will profit off of your trading.
First thing to do, is educate yourself about day trading and then look at the many Expert Advisor plugins available for MT4.
Compare Regulated Brokers
Smart investors always tryout a few regulated brokers, before activating their live trading account.
PepperStone is a popular multi asset broker, that offers Mirror Trading along with other social trading apps, see here.
Start Trading at: Pepperstone.com.
What was your experience investing at FBK Markets? Please share your experience with others, in the comments section below.