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From onwards, South Africans are allowed to send money out of the country and to off-shore accounts, which is what most Forex accounts are, but with a specific limit.

This is the only legal restriction South African citizens face. Thus, the total limit is 11 million, when both options are combined.

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However, before you use both, you should note that any off-shore investment funds 10 million should be cleared with the revenue service SARSi.

However, even with the SDA, you still have to take care, as you have to state exactly what you plan stock options td ameritrade use your money for, unless you want to risk being fined. drposit

For bonuw info about bringing money into the country, you can check with the SARB. However, while there are Forex trading brokers that are licensed by the FSB to be found, they are still very rare.

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Thus, most trading is done via off-shore platforms, simply because octoger offer better conditions, like tighter spreads, more payment options, and even account bonuses. Most South African traders go for trading platforms licensed by other licensing authorities, the most prominent of which are the European regulatory agencies. The most trusted, and thus popular, agencies, are as follows:.

They also enjoy a great reputation, since Optipns, as a member of the EU, has to adhere to EU financial regulation policies. The agency is the successor to the FSA and its licenses are a likewise solid proof of trustworthiness. Licenses from the ASIC are not as common, though they are just as reliable.

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