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FBK Markets Review 2024

FBK Markets, a South African Forex broker, is known for customer concerns regarding its regulatory compliance and legitimacy. In this article, we will look into the broker’s claimed regulation under the Financial Sector Conduct Authority (FSCA) through RocketX (Pty) Ltd, as well as the doubts surrounding its actual regulatory status.

We will also discuss DJ Coach (Kgopotso Mmutlane), believed to be the founder of FBK Markets, and his influence in the South African forex market. The article will examine the relationship between FBK Markets and RCG Markets Ltd, highlighting the potential for regulatory arbitrage in their complex operational structure.

Furthermore, we will explore FBK Markets’ trading conditions, including various account types and competitive features like low spreads and high leverage. However, these aspects are overshadowed by concerns about its regulatory status and customer service issues.

FBK Markets Overview

  • FBK Markets is a South African Forex broker that claims to operate under the regulation of the Financial Sector Conduct Authority (FSCA) through RocketX (Pty) Ltd.
  • There are serious doubts about its regulatory compliance. FBK Markets might not be properly regulated and could be considered risky.
  • A physical verification attempt revealed that FBK Markets might not actually be located at the address it claims, raising further legitimacy concerns.
  • Even though there isn’t an official statement, the internet believes that DJ Coach (Kgopotso Mmutlane) is the founder of FBK Markets. DJ Coach is a popular finance influencer in South Africa known for showcasing a glamorous forex lifestyle.
  • FBK Markets has had a relationship with RCG Markets Ltd in a complex operational structure. Such relationships can be used for regulatory arbitrage, potentially masking non-compliant practices.
  • FBK Markets offers several account types, including Standard, Zero Spread, Bonus 100, ECN, and Micro Accounts, each being designed for different trader needs.
  • The broker advertises competitive trading conditions like low spreads, high leverage (up to 1:1000), and negative balance protection. However, it doesn’t support Expert Advisors (automated trading systems).
  • Despite the attractive trading conditions, the broker’s questionable regulatory status and customer service issues are significant drawbacks.

FBK Markets Pros and Cons

Is FBK Markets Legit?

FBK Markets’ Regulation

FBK Markets claims to operate under South African regulation with the registration number 2020/254472/07. Broker serves as a juristic representative of RocketX (Pty) Ltd, a company also incorporated in South Africa with the company number 2020/824856/07. RocketX (Pty) Ltd is described as an authorized financial services provider, licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP number 52142.

fbk markets regulations

FBK Markets’ concerning regulatory status is even more complicated if you look at the brokers history. WikiFX (a global forex broker inquiry platform) suggests that FBK Markets might not have valid regulation, and is a dangerous option that should be approached with caution. In the review, there was also suspicion on FBK Markets being a clone, indicating potential issues with the authenticity of their regulatory claims​​.

Where FBK Markets Is Located?

In March 2022, a group of traders from WikiFX decided to visit the physical location of FBK Markets at Block 3 Eagle Canyon Office Park, Cnr Christiaan De Wet & Randpark Ridge, Johannesburg 2154. This quest to conclude discussions on FBK Markets’ legitimacy ended somewhat fruitful. Upon arrival at the address given on FBK Markets’ official website, the traders found no indication of FBK Markets. There was no FBK Markets logo outside the building, and the entire building appeared to be empty except for one security guard. When asked, the security guard stated that he was not aware of any company called FBK Markets.

After that, the traders decided to enter the building and ask the management about FBK Markets. The response was not surprising. They discovered that the floor where FBK Markets claimed to be located was completely vacant, and the management stated that there were no records of FBK Markets ever being in that location, neither presently nor in the past. It appears that FBK Markets used that address to register and give the impression of being a legitimate broker. Following an investigation, it was safe to conclude that FBK Markets had lied about its location, further raising concerns about the broker’s legitimacy.

When examining RocketX’s location, the absence of company signage alone does not necessarily signify the legitimacy of the broker. However, considering factors such as their operations, personnel associated with the company, and regulatory status, I firmly believe it’s wiser to trade with reliable brokers. No trading conditions are more critical than ensuring your safety and security as a trader.

rocketx location

Dj Coach, Former Trader, Now Owner of FBK Markets

Multiple sources indicate DJ Coach (Kgopotso Mmutlane) as the founder of FBK Markets. I never knew DJ Coach until today, and I don’t plan to. The only place I’ve heard of him is on the WikiFX page of FBK Markets. There, claims were made about DJ Coach being the founder and owner of FBK Markets. Based on my quick research, DJ Coach loves to showcase his so-called glamorous life. Every post of DJ Coach is either about winning substantial profits or owning something very valuable. Forex is not a single-stream river; there are downs as much as there are ups. Misleading people with these false images of a dreamy life is a common point among scammers. Again, I don’t really know him, and I can’t make accusations about his personality, but based on customer reviews and my experiences, I’m confident to say that I don’t trust him.

dj coach
dj coach

According to WikiFX, DJ Coach (Kgopotso Mmutlane) was born in a shack in a small Limpopo village. Now, Kgopotso Mmutlane poses with expensive cars and property, making millions without even sweating. He often shares blue MT4 screens and bank accounts to showcase his so-called success. I don’t know about the rest, but the forex I’ve experienced was far from all sunny days, and I’ve struggled a lot. When I won, I never bragged about the money I had.

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DJ Coach Tsekeleke, Kgopotso Mmutlane, was born in 1995. He’s one of the most popular finance influencers in South Africa. Kgopotso Mmutlane was born to a poor family, but he says that they never lacked a good meal in their home. DJ Coach Tsekeleke made fame with his one-minute strategy series.

DJ Coach Tsekeleke’s net worth is unknown, but in one YouTube video, he showed his FNB bank account with R40 million.

fbk-markets-ceo

FBK Markets, RCG Markets and RocketX

The relationship between FBK Markets and RCG Markets goes through the regulatory and operational framework. FBK Markets used to operate as a juristic representative of RCG Markets Ltd. This symbiotic relationship means that, FBK Markets’ activities are connected to RCG Markets. In fact RCG Markets was providing a legal and regulatory foundation for FBK Markets’ operations within South Africa.

fbk markets and rcg markets, fbk markets regulation

Being a juristic representative means FBK Markets is authorized to conduct its business under the license and regulatory oversight of RCG Markets Ltd or RocketX in similar terms. This arrangement is actually common in the financial services industry, where one entity operates under the regulatory umbrella of another, leveraging its compliance and regulatory framework to offer services legally to the public.

Some forex brokers might create or use juristic representatives as shell companies in jurisdictions with lax regulations. These entities are often used to engage in practices that wouldn’t be allowed under strict regulatory environments, such as offering excessively high leverage, misrepresenting trading conditions, or not segregating client funds. Operating through juristic representatives in different jurisdictions, is called engaging in “regulatory arbitrage.” This involves exploiting the differences between regulatory regimes to evade stringent oversight. Many global brokers have satellite companies including Tickmill, Exness, HFMarkets and so on.

rcg markets and fbk markets and rocketx

RocketX is a South African company that operates as a cryptocurrency exchange and wallet service. It allows users to buy, sell, and store a variety of cryptocurrencies, including Bitcoin, Ethereum, and other altcoins.

In the forex industry, satellite companies are not uncommon. If their main purpose is to serve clients globally or offer more advantageous trading conditions, I’m not particularly against them. However, the reality may not be so straightforward. The purpose of a satellite entity might be to shield shady practices from the main entity. In this case, the main entities are RCG Markets or the RocketX company, and the entity that has been used, FBK Markets, could serve as a shield that can be discarded when necessary. Rmember, forex market is no stranger to unethical practices, such as money laundering.

Creating separate juristic entities allows the main business to isolate its risky or unethical forex trading practices. This way, if the juristic entity faces legal action, fines, or regulatory sanctions, the primary business and its assets remain protected. Essentially, this structure can be used to limit liability and safeguard the reputation of the core business.

FBK Markets Customer Reviews

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One customer on “Hellopeter” complained about the delay in their withdrawals. Although FBK Markets claims to process withdrawals instantly, customer reviews indicate otherwise. There are multiple reviews complaining about the never-ending withdrawal process.

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It’s not just the withdrawal process customers are complaining about the lack of customer support in disputes. This is the issue with unregulated brokers, when something goes wrong, you are all alone or left with the choice to take the case to court, which means time, effort, and money coming out of your pocket. And don’t blame me for not trusting that the disputes will be resolved.

fbk markets review 4

On “Trustpilot”, customers are writing negative comments about FBK Markets’ withdrawal process across the internet. One customer had issues with FBK Markets’ withdrawal process, and the instant withdrawal time they advertised was a complete lie, according to the customer’s claims. FBK Markets not only failed to provide the payment, but customer support was completely ignoring the customer’s requests, and the numbers given on FBK Markets’ website were not responding.

fbk markets customer reviews 2

Another customer has raised concerns about FBK Markets not having legitimate contact numbers, further questioning the legitimacy of FBK Markets.

In conclusion, customers are dissatisfied with the withdrawal process at FBK Markets. They complain about not receiving their money and being ignored by customer service.

What is FBK Markets?

FBK Markets is a financial brokerage founded in 2020, South Africa. The broker focuses on offering trading services in forex, CFDs, and stocks.

FBK Markets advertises itself as a transparent, reliable broker that aims to provide high-quality trading experiences globally. FBK Markets claims to have a client base of over 200,000 and believes that its core values are fairness, reliability, and trust.

FBK Markets supports trading with the MetaTrader 4 (MT4) platform, which we all love for its speed, security, and reliability. FBK Markets offers leverage options up to 1:1000, which can be both dangerous and profitable.

FBK Markets offers variety account types, including Standard, Zero Spread, Bonus 100, ECN, and Micro Account types, all designed for the needs of different traders with varying minimum deposit requirements.

Regarding its reputation and customer feedback, FBK markets does not present a very reliable imagery. Some traders have expressed dissatisfaction while some are happy with the brokers trading conditions, especially appreciating the low spreads and high leverage options. On the other hand, traders are concerned about the broker’s regulatory status, educational resources, and disputes in withdrawal processes.

what is fbk markets

Brokers history with allegations of regulatory issues and negative customer experiences is a con that no pro can equal. Is FBK Markets safe? No, FBK markets operates without a valid regulation for themselves and has been involved in practices that have led to customer dissatisfaction regarding withdrawal delays and lack of responsiveness from customer support.

If you are considering to trade with FBK Markets, I suggest you to at least go through the whole article, broker advertises itself in one way but the user reviews are pointing another direction. FBK Markets’ regulatory status and transparency is a matter of doubt and you should understand the risks involved especially with high leverage.

FBK Markets is a South African-based forex and CFD broker that has been the subject of discussions regarding its regulatory status and its association with RCG Markets. FBK Markets is not complying with any regulations, but their operations are subject to the Financial Sector Conduct Authority (FSCA) of South Africa’s regulations through RocketX Company.

FBK Markets Account Types

Account TypeSTANDARDZERO SPREADBONUS 100ECNMICRO
Base CurrencyZAR, USD, GBPZAR, USD, GBPZAR, USD, GBPZAR, USD, GBPZAR, USD, GBP
SpreadAs Low as 0.5 Pip0As Low As 0.5 PipTight SpreadsAs Low as 0.5 Pip
Commission0$9 Per Standard Lot0$4 Per Std Lot0
Negative Balance ProtectionYesYesYesYesYes
Minimum DepositR100R100R100R100R20
Contract size1 Lot = 100,0001 Lot = 100,0001 Lot = 100,0001 Lot = 100,0001 Lot = 100,000
Leverage$0-$1000 – 1:1000
$1001-$2000 – 1:500
$2001-$5000 – 1:300
$5001-$10000 – 1:200
$10001-$Unlimited – 1:100
$0-$1000 – 1:1000
$1001-$2000 – 1:500
$2001-$5000 -1:300
$5001-$10000 – 1:200
$10001-$Unlimited – 1:100
$0-$1000 – 1:1000
$1001-$2000 – 1:500
$2001-$5000 – 1:300
$5001-$10000 – 1:200
$10001-$Unlimited – 1:100
$0-$1000 – 1:1000
$1001-$2000 – 1:500
$2001-$5000 – 1:300
$5001-$10000 – 1:200
$10001-$Unlimited – 1:100
$0-$1000 – 1:1000
$1001-$2000 – 1:500
$2001-$5000 – 1:300
$5001-$10000 – 1:200
$10001-$Unlimited – 1:100
Expert AdvisorsNONONONONO
Max Lot Size Per Order100.00 Lots100.00 Lots100.00 Lots100.00 Lots100.00 Lots
Max Open / Pending Orders Per Client100 Positions100 Positions100 Positions100 Positions100 Positions
Min Trade Volume0.01 Lots0.01 Lots0.01 Lots0.01 Lots0.01 Lots

Each FBK account type is designed for traders in different levels from beginners to experienced professionals and autotraders. FBK markets offers a range of conditions suitable for varying trading strategies, volumes, and risk tolerances.

Every account types allows you to trade in ZAR, USD, and GBP. Allowing traders to manage their funds in a currency that they are familiar with.

The minimum deposit requirement for most FBK Markets’ accounts is R100, while for the Micro Account, it is R20. This relatively low minimum deposit welcomes traders of all levels.

To get the most from FBK Markets’ trading conditions:

  • Understand your own trading needs and strategies.
  • Consider the implications of leverage and spreads into your tradings.
  • Utilize negative balance protection and other risk management tools.
  • Start with a demo account, test the waters first. It’ll be easier transitioning to a real account that matches their trading style and financial goals.
  • Always prioritize safety and security.

FBK Markets’ Standard Account

Offers flexibility with the choice choices of ZAR, USD, GBP. This is sutiable for traders to manage their accounts in a currency that they are comfortable with or that offers them the best conversion rates according to their strategies and assets.

  • Spread: Starting as low as 0.5 pip. Low spread is beneficial for high frequency tradings and daytraders. In general, it’s ideal for traders using strategies that are sensitive to transaction costs.
  • Commission: No commission charged. This makes the FBK Markets Standard Account appealing for daytrades, as it helps to keep the costs down.
  • Negative Balance Protection: Most of the trusted regulatory authorities demand negative balance protection from brokers. Even though FBK Markets is not regulated itself, it offers negative balance protection with all its account types.
  • Minimum Deposit: Minimum deposit amount for Standard Account is R100. It’s a relatively low entry for forex market. South Africa is a home for many international traders because of its beneficial trading conditions. The low minimum deposit requirement also good for the African traders, the minimum monthly salary in South Africa is around R7500.
  • Contract Size: Standardized at 1 lot = 100,000 units, fitting for traders who prefer dealing with standard lot sizes.
  • Leverage: Offers a tiered leverage system you can check from the table above.
  • Expert Advisors: Not allowed. This could be a downside for traders who rely on automated trading strategies.
  • Maximum Lot Size Per Order: 100.00 lots. Which is more than enough for most traders.
  • Maximum Open/Pending Orders Per Client: 100 positions. More the available open positions better for versatile strategies and forex loves versatile strategies.
  • Minimum Trade Volume: 0.01 lots. This will enable you to diversify your strategies.

FBK Markets’ Zezo Spread Account

  • Base Currency Options: FBK Markets offers the same flexibility options with its zero spread account; ZAR, USD, GBP.
  • Spread: The selling point of FBK Markets Zero Spread Account is basically zero spread, making it exceptionally suited for traders employing strategies that require executing a large number of trades in a short period, such as scalping.
  • Commission: $9 per standard lot is relatively high but is justified by the absence of spreads.
  • Negative Balance Protection: This feature is critical for risk management, and especially important in fast-moving markets.
  • Minimum Deposit: R100, just like the standard account.
  • Leverage: Offers a flexible leverage model which we’ll explain later.
  • Expert Advisors: Not permitted.
  • Max Lot Size Per Order: Same as standard account; 100.00 lots.
  • Min Trade Volume: Set at 0.01 lots, allowing for precise risk management and strategy implementation.

The FBK Markets Zero Spread Account is ideally suited for high-frequency traders such as scalpers, who can capitalize on the advantageous zero spread environment.

Bonus 100 Account

I saw it on the FBK Markets’ official website, therefore I wrote it on the table and there was a bonus campaign in 2022. However, in 2024, I haven’t found any active bonus offers except for Khetka Chooseday.

ECN Account

The ECN account is especially designed for experienced traders. This account stands out with offering direct access to interbank market conditions with tight spreads and a commission of $4 per standard lot.

ECN account is ideal for high-volume traders. The account supports significant trading volumes, allowing up to 100.00 lots per order and 100 positions, with a minimum trade volume of 0.01 lots for precise risk management.

Negative balance protection provides a safety net, eliminating the risk of losing more than the account balance. Overall, the ECN account is designed for serious traders seeking an edge through direct market access and superior trading conditions.

FBK Markets Micro Account

FBK Markets’ micro account stands out with its no commission which makes it very attractive for small volume traders who are sensitive to trading costs.

One thing I like about FBK Markets is that they offer negative balance protection event hough the regulatory authority doesnt demand it. I believe its an essential feature for beginners and those testing new strategies.

Mini accounts minimum deposit is only R20, which is roughly 1 dollars today. This account is highly accessible and removes barriers to entry for novice traders or those with limited capital.

Who should choose FBK Markets’ Micro Account?

FBK Markets designed its micro account, also known as a cent account, especially for beginners or those with limited trading capital. If you are an experienced trader testing new strategies, it’s still a great option due to its ability to allow you to trade in a live environment without significant risks. FBK Markets’ cent account offers a way to experience real market conditions with minimal financial commitment.

FBK Markets doesn’t offer a demo account option, but the micro account compensates for the lack of a demo account in a more efficient way, if you ask me. You can experience live trading conditions with only $1.

FBK Markets Leverage

The leverage system is quite something alright. There are different levels of leverage options based on the amount of capital in a trader’s account. Let’s analyze and explain how FBK Markets’ leverage structure works and its potential usefulness:

  1. $0 – $1000: 1:1000 Leverage:
    • For account balances ranging from $0 to $1000, traders are offered the highest level of leverage at 1:1000. This means that for every $1 in the your account, you can control up to $1000 in positions.
    • High leverage allows you to control larger positions with a relatively small amount of capital. Make no mistake, it’s not all sunshine and rainbows; it amplifies both potential profits and losses.
  2. $1001 – $2000: 1:500 Leverage:
    • As the account balance increases beyond $1000, the leverage offered decreases to 1:500. This means that for every $1 in the trader’s account, they can control up to $500 in positions.
    • While still providing significant leverage, this level is slightly lower than the previous tier. This is for reducing the potential risk exposure compared to 1:1000 leverage.
  3. $2001 – $5000: 1:300 Leverage:
    • For account balances between $2001 and $5000, the leverage is further reduced to 1:300. This means that for every $1 in the trader’s account, they can control up to $300 in positions.
    • The reduction in leverage from the previous tier indicates a shift towards more conservative risk management. While still providing significant leverage, it offers slightly more protection against large losses compared to higher leverage ratios.
  4. $5001 – $10000: 1:200 Leverage:
    • As the account balance exceeds $5000 and up to $10,000, the leverage decreases further to 1:200. This means that for every $1 in the trader’s account, they can control up to $200 in positions.
    • This level of leverage continues the trend of gradually reducing risk exposure as the account balance increases. It provides even more protection against potential losses compared to higher leverage ratios.
  5. $10,001 – Unlimited: 1:100 Leverage:
    • For account balances exceeding $10,000, the leverage is set at 1:100. This means that for every $1 in the trader’s account, they can control up to $100 in positions.
    • This level of leverage is the lowest among the tiers listed, indicating a conservative approach to risk management. It provides the greatest protection against large losses compared to higher leverage ratios.

In summary, FBK Markets’ leverage structure offers traders flexibility by adjusting leverage based on their account balance. Higher leverage levels allow for greater market exposure with less initial capital, while lower leverage levels offer more protection against potential losses.

FBK Markets Order Execution Process

FBK Markets’ execution process occures with several key components that contribute to its high-speed execution (Allegedly).

FBK Markets claims to execute 99% of trades in less than 0.9 seconds. This rapid execution speed minimizes the delay between the time a trader places an order and the time the order is executed. This speed is especially critical in forex so traders can enter or exit positions at or very close to their desired prices.

No Re-quotes and No Virtual Dealer Plugin

Re-quote occurs when the broker is unable to execute an order at the quoted price due to a delay in the trading system, often asking the trader to accept a new price. FBK Markets advertises it has zero records of re-quotes.

Virtual Dealer Plugins are tools that brokers can use to automatically delay order execution, create slippages, or provide re-quotes. FBK Markets claims that they do not use such plugins.

FBK Markets Slippages

Slippage occurs when the execution price differs from the initial quoted price for an order, often happening during high volatility or low liquidity. FBK Markets does not deny the the presence of slippages but notes that they work to minimize them. They also mention that slippages are controlled by their liquidity providers FBK Markets cannot fully control the situation.

FBK Markets Order Execution

FBK Markets utilizes MT4 as a trading platform, which supports various order types including market orders, limit orders, stop orders, and trailing stop orders. This variety allows traders to implement a wide range of trading strategies.

Traders can place large orders with FBK Markets (up to 100 million units per order) and have a high number of active orders (up to 300). This provides flexibility for high-volume traders.

In summary, FBK Markets’ execution process is designed to offer traders a fast, reliable, and flexible trading experience. They advertise their ultra-high execution speed, no re-quotes and no use of virtual dealer plugins while controlling slippages, and providing a versatile trading platform with direct access to liquidity provider prices.

fbk markets tradable instruments -min

FBK Markets Tradable Instruments

Indices

  • S&P 500, Nasdaq 100, Dow 30, Nikkei 225, DAX Index, UK 100: These indices represent bulks of stocks from specific markets, providing an indicator of overall market performance.

Commodities

  • Euro, Gold, Crude Oil, Natural Gas, Corn: Gold is a valuable metal for investment and industry. Crude oil powers global transportation and industry. Natural gas is used for heating and electricity. Corn is a staple crop for food and industrial purposes.

Bonds

  • Eurodollar, T-Bond, Ultra T-Bond, Euro Bund, Euro BTP, Euro BOBL: Eurodollar refers to U.S. dollar-denominated deposits held abroad, while T-Bonds are long-term U.S. Treasury debt securities. Ultra T-Bonds have even longer maturities, exceeding 25 years. Euro Bund represents German government bonds, Euro BTP denotes Italian government bonds, and Euro BOBL refers to shorter-term German bonds.

Forex

  • EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, USDCAD: These are major currency pairs traded in the foreign exchange market. EURUSD represents the exchange rate between the Euro and the U.S. Dollar, while GBPUSD reflects the exchange rate between the British Pound and the U.S. Dollar. USDJPY indicates the exchange rate between the U.S. Dollar and the Japanese Yen, while USDCHF represents the exchange rate between the U.S. Dollar and the Swiss Franc. AUDUSD reflects the exchange rate between the Australian Dollar and the U.S. Dollar, and USDCAD indicates the exchange rate between the U.S. Dollar and the Canadian Dollar. These pairs are highly liquid and widely traded major pairs that you can find in almost every broker on the world.

FBK Markets Withdrawal

FBK Markets advertises its withdrawal process as straightforward and flexible. The broker offers various methods for clients to access their funds. Once you’ve logged into your account, you can initiate a withdrawal using any of the available options.

  1. FBK Markets Minimum Withdrawal Amount: The minimum withdrawal amount is R100. This means that you can withdraw at least R100 from your account at any time.
  2. No Maximum Withdrawal Limit: Unlike the minimum withdrawal amount, there is no maximum withdrawal limit.

FBK Markets Withdrawal Methods

  • Ozow is instant smart EFT payment service that allows secure online payments directly into your bank account.
  • Skrill is a digital multicurrency wallet provider for handling online payments and transfers.
  • Mastercard and Visa.

FBK Markets Withdrawal Time

FBK Markets claims to process its withdrawals instantly. However, the actual processing time may vary depending on the chosen withdrawal method, and there are many controversies regarding FBK Markets’ withdrawals.

Conclusion

In conclusion, FBK Markets is a South African Forex broker with a complex and controversial background. Despite claiming to be regulated by the FSCA through RocketX (Pty) Ltd, there are serious doubts about its regulatory compliance and legitimacy. The lack of a physical presence at its claimed address, coupled with its association with the infamous DJ Coach (Kgopotso Mmutlane), raises further concerns about the broker’s credibility.

FBK Markets’ relationship with RCG Markets Ltd and the use of juristic representatives like RocketX suggest potential regulatory arbitrage, which could mask non-compliant practices. While the broker offers a variety of account types with competitive trading conditions, its questionable regulatory status, customer service issues, and withdrawal complaints overshadow these features.

You should exercise caution and conduct thorough research before considering trading with FBK Markets, given the risks associated with its regulatory uncertainties and the mixed customer feedback regarding its services and withdrawal processes.

FBK Markets FAQs

What is the minimum deposit for FBK Markets?

The minimum deposit for most FBK Markets’ accounts is R100. For the Micro Account, the minimum deposit is R20.

Is FBK Markets legit?

FBK Markets has faced controversies regarding its regulatory compliance and legitimacy. While it claims to be regulated by the FSCA through RocketX (Pty) Ltd, there are doubts about its true regulatory status. Potential traders should exercise caution and conduct thorough research before trading with FBK Markets.

How does the withdrawal process work at FBK Markets?

FBK Markets advertises a straightforward withdrawal process with various methods available. The minimum withdrawal amount is R100, and there is no maximum limit. However, there have been customer complaints regarding delays and issues with the withdrawal process.

Is FBK Markets regulated?

FBK Markets claims to operate under the regulation of the Financial Sector Conduct Authority (FSCA) through RocketX (Pty) Ltd. However, there are serious doubts about its regulatory compliance, and it is advisable to verify its regulatory status independently.

Who is the founder of FBK Markets?

FBK Markets is associated with DJ Coach (Kgopotso Mmutlane), a popular finance influencer in South Africa. He is believed to be the founder of FBK Markets, although the company has not officially confirmed this.

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