This is his way of giving back to the community, aiming at helping others attain financial freedom. His goal was to create a network for business people so that they could communicate ideas and strategies.
- Jabulani Ngcobo History Book.
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A key concept lying at the foundation of the company was giving something back to the community. One thing is for sure, though — Forex trading offers a wide range of unique opportunities. As you can see, there are many young people that succeeded down this path, in spite of their humble beginnings.
Anyway, almost everyone who is ambitious and has strong personality can possibly learn forex trading on his own and succeed. There are no secrets in forex believe me.
Did Cashflow Ngcobo and Mzabalazo Dlamini Get Arrested?
In case you are more into stocks than forex trading, read our guide on the cheapest share trading platform in South Africa. If you liked this article, we would be glad if you could share it on your social network. Automated page speed optimizations for fast site performance.
Skip to content Last updated: June 2nd, In the past years, Forex trading in SA has become a very profitable business, and it is likely to keep developing in the future. That being said, some even managed to become filthy rich. So, keep on reading to discover who are the richest currency traders based in South Africa. So there you have it, four most successful south african forex traders. If it looks too good to be true, it probably is.
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Yet South African millennials continue to gravitate towards forex trading, lured by the promise of Ferraris, overseas holidays and mega-mansions. The rise of young South African forex traders — those who buy and sell foreign currency and often charge big money to teach others how to swell their coffers — has been increasingly apparent on social media platforms, where they flash wads of cash and sell a lavish lifestyle associated with trading on the financial markets.
But established economists and traders have sounded the alarm about the new forex band, warning that proper money traders "don't try to sell training programmes and they don't flaunt their money". According to the Financial Sector Conduct Authority — successor to the Financial Services Board — forex training is not "a regulated activity", making it easy for unscrupulous so-called traders to prey on those eager to strike it rich.
Millionaires Of Forex
On Wednesday, Philippines police reportedly arrested an entire call centre linked to an Israeli foreign-exchange broker believed to be running a stock market scam that duped mainly South Africans. Police swooped on the call centre after receiving complaints from South Africa and Australia. Economist Mike Schussler said few of the people who offer to share their "knowledge" in forex trading for a price have actually made money from trading.
Sometimes it's difficult to tell the crooked guys from the genuine ones.
Umhlanga-based Sandile Shezi — once dubbed "South Africa's youngest millionaire" for striking it rich at the age of 23 — recently resigned as CEO of the Global Forex Institute, a company he founded three years ago and which provides forex training to its clients. He is now focusing on his brokerage firm and property investment.
There are too many people doing dodgy things, there are too many people scamming people and claiming to be forex traders. I can't compromise my name," he said. He denied the plagiarism allegations and said his former partner's past had nothing to do with the business.
Top 5 Richest Forex Traders In South Africa - Viral Feed South Africa
Trader and author Jabulani "Cashflow" Ngcobo, who has been accused of scamming customers, is not fazed by the latest allegations of fraud made against him last month. It has given me properties, cars and a complete life I had dreamt of growing up, but more than anything I was able to build a dream house for my [family]. Sign in with the same details.
- Jabulani Cash Flow Ngcobo & Mzabalazo Dlamini during the ...?
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