The FSCA Has Issued A Public Warning To Ebrahiem Dollie And Affluence FX

The FSCA has learned that Ebrahiem Dollie and Affluence FX are providing financial services to the public by trading Forex on their behalf. The FSCA emphasizes that in order for a firm to provide forex trading in South Africa, it must be licensed by the FSCA. The FSCA contacted Ebrahiem Dollie about the claims, and he told the FSCA that Affluence FX is a company that provides the public with account linkage and mirror or duplicate trading. He also notified the FSCA that the service is being provided via a broker. The FSCA wants to certify that the aforementioned broker is not licensed by the FSCA.

According to the Financial Advisory and Intermediary Services Act of 2002, Ebrahiem Dollie and Affluence FX are not permitted to provide financial advice or provide intermediary services (FAIS Act).

Members of the public should always verify with the FSCA to see whether a business or person is registered to offer Financial Advisory & Intermediary Services and what kind of advice the entity is registered to give. In certain cases, individuals are certified to give basic advisory services for a low-risk product and then provide services that are significantly more sophisticated and hazardous. The FSCA advises customers who want to perform financial services with an institution or person to first check with the FSCA on the toll-free number (0800 110 443) or the website www.fsca.co.za to see whether the institution or person is permitted to do so.

About FSCA

The FSCA is the market conduct regulator for financial firms regulated under a financial sector statute to offer financial goods and services, such as banks, insurers, retirement funds, administrators, and market infrastructures.

What Does the FSCA Do？

The Financial Sector Behavior Authority (FSCA) regulates and supervises market conduct. FSCA strives to improve and promote the efficiency and integrity of financial markets, as well as to safeguard financial clients by advocating fair treatment by financial institutions and offering financial education to them. The FSCA will help to preserve financial stability even more.

The FSCA Vision

To guarantee that the financial industry is efficient and that clients are treated properly.

The FSCA Mission

To maintain a fair and stable financial market in which consumers are educated and protected, and those who risk consumers' financial well-being are held responsible.

About WikiFX

WikiFX is a platform for searching worldwide corporate financial information. Its primary duty is to give the included foreign exchange trading organizations with basic information searching, regulatory license seeking, the credit assessment, platform identification, and other services.

Keep an eye out for additional regulatory updates.

WikiFX App may be downloaded through the App Store or the Google Play Store.