Trading is a legal practice to buy and sell securities in the financial markets. Several regulatory authorities around the globe overlook the brokerages & license them as the volumes are surging exponentially.
The easy accessibility of trading platforms through the internet has bolstered the uptick in global trading figures in the last few years, and it has grown significantly during the pandemic.
Forex trading daily volume has increased from $1.2 trillion in 2001 to more than $6.6 trillion in 2019 according to reports by BIS. The trading volume of stocks, indices and cryptocurrencies is also advancing dramatically.
The increase in demand has also led to an increase in the scams associated with online trading. Scammers and conmen often pretend as brokers, advisors or agents; and take dishonest monetary advantage of inexperienced online traders, investors and general public.
In Africa, it is quite common to hear about online trading…