Investors warned against firm that uses ’Forex Robots’
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The Financial Sector Conduct Authority (FSCA) warns against dealing with an entity called Trabot.
The authority says it has received information that Trabot, a private company located in Randburg, Gauteng, offers people access to a tool called “Forex Robots”.
“These robots trade automatically for the clients and promise a highly unrealistic profit of 20 to 50% per month. This, however, does not seem to be the case, as complaints were received from clients who suffered ongoing losses when using the services of Trabot,” the FSCA says.
At this stage, the nature of Trabot’s business is not clear, but the FSCA can confirm that it is not authorised to provide financial services business to the public.
It reminds you that you should always check that an entity or individual is registered with the FSCA to provide financial advisory or intermediary services and what category of advice it is registered to provide. You can call the FSCA on either the toll-free number (0800 110 443) or visit its website, www.fsca.co.za