’Big fish’ of forex trading says venture gains bad name because of fraudsters
Johannesburg - Forex trading is a legitimate venture but has gained a bad name because of scamsters who take people for a ride.
That’s the word from the “big fish” of forex trading, Pontsho Malatji, 25, who’s made a fortune from forex trading.
He said often the problem was mentors and brokers who claim to help but are not really legitimate.
“A week or two after being paid they are nowhere to be found, and not answering phone calls or messages whenever you need their assistance.
“A broker not registered with relevant regulatory bodies is also a problem. For instance, you fund your account and grow it, but they process a withdrawal and from there they no longer attend to you,” he said.
“It’s very important that before you subscribe to any services you do research to find out if it’s real or not, and before you deposit your money with any broker, check its reviews on the internet to avoid problems.”
He warned potential traders not to entertain messages from strangers telling them that they could assist them to make money in forex.
Malatji said social rejection gave him the strength to become who he is today – “the big fish” in the forex trading Industry.
“The journey began in 2017 when I joined my former partners FBK; we had achieved a lot by the time I decided to be independent last year. But I decided to face the world on my own and chase my dreams. I’m a hustler, forex trader and a mentor to my wonderful students under The Blue FX, trading as Kgotso Business Group,” Malatji said.