FSCA warns public against advice from non-authorised firm
JOHANNESBURG - THE FINANCIAL Sector Conduct Authority (FSCA) warned the public yesterday against doing any financial services business with Tradetheatre Capital Markets.
The FSCA said it was not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002.
According to the Tradetheatre Capital Markets’ website, it is a trading platform that offers trading in forex, CFD, cryptos and/or binary options. The website claims that Tradetheatre Capital Markets and Tradetheatre Middle East are authorised by the FSCA and the Financial Services Regulatory Authority in Abu Dhabi respectively.
However, the Financial Services Regulatory Authority has confirmed that Tradetheatre Middle East is not an authorised entity in the region. The FSCA said it also confirmed its position that Tradetheatre Capital Markets was not authorised to provide any financial services.
“Members of the public should always check that an entity or individual is registered with the FSCA … and what category of advice it is that the entity is registered to provide,” it said.