FSCA warns the public against Tradetheatre Capital Markets
The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Tradetheatre Capital Markets Pty as it is not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).
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 Pty and Tradetheatre Middle East Ltd are authorised by the FSCA and the Financial Services Regulatory Authority in Abu Dhabi respectively.
The Financial Services Regulatory Authority has confirmed that Tradetheatre Middle East Ltd is not an authorised entity in the region. The FSCA also confirms its position that Tradetheatre Capital Markets Pty is not authorised to provide any financial services.
Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide.
There are instances where persons are registered to provide basic advisory services for a low risk product and then offer services of a far more complex and risky nature.
The FSCA reminds customers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 110 443) or on https://www.fsca.co.za/Fais/Search_FSP.htm whether such institution or person is authorised to render financial services.