The Financial Sector Conduct Authority (FSCA) issued a public warning urging consumers to exercise caution when engaging with Forex Major, after receiving information that the entity is soliciting funds from members of the public for investment purposes. Forex Major is reportedly offering copy trading services, described as automatically replicating the trading activity of selected investors, without authorisation. The FSCA confirmed that Forex Major is not authorised under any financial sector law to provide financial services to the public and noted that the entity has not responded to its enquiries. The FSCA reiterated that consumers should verify that any entity and individuals claiming to represent it are authorised, check the scope and category of advice they are registered to provide, and ensure the financial services provider number matches the name shown on the FSCA database, particularly where offers are made on social media or are unsolicited.
South Africa Financial Sector Conduct Authority 2025-11-04
South Africa's Financial Sector Conduct Authority warns the public against unauthorised copy trading offers by Forex Major
The Financial Sector Conduct Authority (FSCA) issued a warning to consumers about Forex Major, which is soliciting funds for investment without authorisation. Forex Major offers unauthorised copy trading services and has not responded to FSCA enquiries. The FSCA advises consumers to verify the authorisation of entities and individuals, especially for unsolicited offers or those made on social media.