The South Africa Financial Sector Conduct Authority (FSCA) issued a public warning urging consumers to exercise caution when conducting financial services business with Mr Joash Naidoo, following information that he is soliciting funds from the public for investment purposes. The information indicates he is offering copy trading services and forex trading signals, including claims that an investment of ZAR 1,000 may yield ZAR 16,000 within 24 hours. Mr Naidoo reportedly claims on social media to be associated with TD Markets (Pty) Ltd (financial services provider number 49128), but TD Markets has confirmed it is not associated with him. The FSCA stated that Mr Naidoo is not authorised under any financial sector law to provide financial services to the public and that he did not respond to FSCA enquiries. The regulator reminded the public to verify a provider’s authorisation status, the category of advice they are registered to provide, and that any FSP number used matches the name on the FSCA’s official database, particularly for offers made via social media or received unsolicited.
South Africa Financial Sector Conduct Authority 2025-11-05
South Africa Financial Sector Conduct Authority issues public warning against Joash Naidoo over unauthorised forex copy trading solicitations
The South Africa Financial Sector Conduct Authority (FSCA) warned against Mr. Joash Naidoo for allegedly soliciting investment funds without authorization. Naidoo claims to offer copy trading and forex signals, falsely associating with TD Markets (Pty) Ltd. The FSCA advises verifying the authorization status of financial service providers, especially for unsolicited offers or those made via social media.