{"id":1405,"date":"2020-03-28T21:03:43","date_gmt":"2020-03-28T19:03:43","guid":{"rendered":"https:\/\/www.24forex.co.za\/?p=1405"},"modified":"2021-07-09T21:03:21","modified_gmt":"2021-07-09T19:03:21","slug":"fbk-millionaires","status":"publish","type":"post","link":"https:\/\/www.24forex.co.za\/fbk-millionaires\/","title":{"rendered":"fbk millionaires"},"content":{"rendered":"

There is nothing I cannot afford. I can afford anything \u2026 this is often the simplest lifestyle-dream I could ever consider ,\u201d boasts Kgopotso Mmutlane \u2014 or DJ Coach Tsekeleke as he’s better known \u2014 on his reality show FBK Millionaires.<\/p>\n

I am a proud millionaire, but you can’t see it until I tell you,\u201d the exchange (forex) trader is quick to means , however.<\/p><\/blockquote>\n

<\/span>Recommended Forex Brokers in South Africa<\/span><\/h2>\n
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\r\n \"Expert <\/div>\r\n
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<\/span>Quotex<\/span><\/h2>\r\n
\r\n <\/i> 4.9\r\n <\/div>\r\n <\/div>\r\n
\r\n Demo account<\/span>\r\n <\/i>Yes<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit<\/span>\r\n $10<\/span>\r\n <\/div>\r\n
\r\n Minimum Deposit: $10\r\n <\/div>\r\n
\r\n \r\n Review<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n \r\n Open account<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n Quotex began providing services to traders in 2014 and currently executes in more than 30 million deals monthly .\r\n The brand currently boasts 9 million customer accounts.<\/div>\r\n <\/div>\r\n <\/div>\r\n <\/div>\r\n\r\n
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\r\n \"Deriv <\/div>\r\n
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<\/span>Deriv<\/span><\/h2>\r\n
\r\n <\/i> 4.5\r\n <\/div>\r\n <\/div>\r\n
\r\n Demo account<\/span>\r\n <\/i>Yes<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit<\/span>\r\n $10<\/span>\r\n <\/div>\r\n
\r\n Minimum Deposit: $10\r\n <\/div>\r\n
\r\n \r\n Review<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n \r\n Open account<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n Deriv is an offshore broker offering both binary options and standard forex and CFD trading<\/div>\r\n <\/div>\r\n <\/div>\r\n <\/div>\r\n\r\n\r\n
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\r\n \"Exness\" <\/div>\r\n
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<\/span>Exness<\/span><\/h2>\r\n
\r\n <\/i> 5\r\n <\/div>\r\n <\/div>\r\n
\r\n Demo account<\/span>\r\n <\/i>Yes<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit<\/span>\r\n $ 150<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit: $ 150\r\n <\/div>\r\n
\r\n \r\n Review<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n \r\n Open account<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n Exness is FSCA & FCA regulated, which are 2 Top Tier regulators, so we consider them to be safe.<\/div>\r\n <\/div>\r\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n
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\r\n \"IQ <\/div>\r\n
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<\/span>IQ Option<\/span><\/h2>\r\n
\r\n <\/i> 4.6\r\n <\/div>\r\n <\/div>\r\n
\r\n Demo account<\/span>\r\n <\/i>Yes<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit<\/span>\r\n $10<\/span>\r\n <\/div>\r\n
\r\n Minimum Deposit: $10\r\n <\/div>\r\n
\r\n \r\n Review<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n \r\n Open account<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n IQ Option was first introduced to the binary options traders across the world back in 2013.<\/div>\r\n <\/div>\r\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n\r\n
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\r\n \"Hycm <\/div>\r\n
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<\/span>Hycm<\/span><\/h2>\r\n
\r\n <\/i> 4.6\r\n <\/div>\r\n <\/div>\r\n
\r\n Demo account<\/span>\r\n <\/i>Yes<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit<\/span>\r\n $100<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit: $100\r\n <\/div>\r\n
\r\n \r\n Review<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n \r\n Open account<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts\r\n lose money when trading CFDs with this provider <\/div>\r\n <\/div>\r\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n
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\r\n \"Easy <\/div>\r\n
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<\/span>Easy Markets<\/span><\/h2>\r\n
\r\n <\/i> 4.8\r\n <\/div>\r\n <\/div>\r\n
\r\n Demo account<\/span>\r\n <\/i>Yes<\/span>\r\n <\/div>\r\n
\r\n Minimum deposit<\/span>\r\n $150<\/span>\r\n <\/div>\r\n
\r\n Minimum Deposit: $150\r\n <\/div>\r\n
\r\n \r\n Review<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n \r\n Open account<\/span>\r\n <\/a>\r\n <\/div>\r\n
\r\n Easy Markets is an award-winning forex and CFDs trading platform launched in 2001 as the world\u2019s first web-based trading platform.<\/div>\r\n <\/div>\r\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<\/div>\n

The show, which aired on YouTube before getting a platform on DStv\u2019s Moja Love channel, features the lives of a gaggle of seven forex traders who call themselves the Forex Broker Killers (FBK).<\/p>\n

Members of FBK, the brainchild of Mmutlane, are quite happy to share their envy-inducing lifestyles \u2014 complete with fancy cars, luxury homes and stacks of money .<\/p>\n

\"fbk<\/p>\n

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Viewers can live the high life vicariously as they watch the seven young men boast their girlfriends, parties and flashy rides \u2014 cars like an Audi S3, VW Golf GTi and Mercedes-Benz AMG which carry price tags starting from R600 000 to R1-million.<\/p>\n

<\/span>fbk millionaires in South Africa<\/span><\/h2>\n

[responsive_youtube https:\/\/www.youtube.com\/watch?v=VJM9f2SLoIE]<\/p>\n

The show, which is currently suspended due to \u201ctechnical issues\u201d after airing just four episodes, does beg the question: just how does FBK make money?<\/p>\n

 <\/p>\n

Mmutlane says the group has accrued its wealth through trading in foreign currencies<\/a>. He says they operate as a legal entity under Mmutlane Traders, which offers trading \u201cstrategies\u201d through FBK Online Services.<\/p>\n

When the Mail & Guardian asked the Financial Sector Conduct Authority (FSCA) if Mmutlane Traders and FBK Online Services are registered, a spokesperson said: \u201cNo, there’s currently no record of the entities mentioned as authorised financial service providers (FSPs) nor a representative of an authorised FSP.\u201d<\/p>\n

 <\/p>\n

Any entity or individual rendering financial advice and intermediary services as contemplated and defined within the Financial Advisory and Intermediary Services Act, 2002 \u2014 which regulates and provides a code of conduct for FSPs and their customers \u2014 has got to receive authorisation from the FSCA.<\/p>\n

Once authorisation is granted, the body, which governs market conduct, issues a licence under the Act.<\/p>\n

When asked if he’s registered, Mmutlane said people that got to register are those that are offering financial advice or investing people\u2019s money and he doesn’t do this .<\/p>\n