Trading platforms make poor promises 

A total of 62% of South African traders view promises of unrealistic gains as a major red flag. Amid social media hype and high-risk promises, local traders are pushing back against platforms that exaggerate potential returns. They are calling for honesty – and walking away from brokers that fail to deliver it.

This finding comes from a recent global survey by international financial broker Octa, which polled more than 2,000 traders across SA, Malaysia, Indonesia, and Nigeria. The study offers a snapshot of the global trader mindset, with the results for SA pointing to deepening expectations for fairness, transparency, and accountability.

As the SA’s trading sector continues to grow, so does the awareness of what makes a broker trustworthy – or not. Hidden fees, withdrawal delays, and chart manipulation rank high among the warning signs that local traders say they are watching for.

Withdrawal issues are also a major concern, with 27% of SA traders reporting difficulty accessing their funds. This is the highest among the four countries surveyed and highlights the critical role of seamless transaction processes in maintaining trust.

Chart manipulation is another clear red flag. More than half of SA traders (56%) say manipulated or inconsistent price charts signal unreliability. This indicates a demand for more transparent pricing practices and access to historical data to verify broker integrity.

Interestingly, only 29% of local traders say high broker fees are a deal-breaker, a figure lower than in other countries like Indonesia. This suggests SA traders may be more tolerant of fees provided they get value, security, and service in return.

“SA traders are becoming more informed and selective,” says Octa analyst MJ Givens Kgasi. “They are not just looking for low fees, they are looking for transparency, fast withdrawals, and honest communication. Once trust is broken, it is very hard to regain.”

The survey results reveal a trading audience that is maturing quickly. Gone are the days of jumping into platforms based solely on marketing promises. Today’s traders want accountability and education. They want tools to help them assess broker credibility and data to back up performance claims.

“Chart manipulation and delayed withdrawals do not just hurt a trader’s wallet – they hurt confidence. And that confidence is essential for consistent performance and long-term trading success.”

With SA’s crypto and forex trading space continuing to grow, these insights serve as a reminder for brokers to prioritise transparency, security, and integrity.