FSCA Warns Public Against Global Investors Choice

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with Global Investors Choice.

In terms of Global Investors Choice's website, the entity trades in forex, binary options and in crypto assets through their automated platforms. Global Investors Choice further claim that they are registered as financial services providers (FSP) with the FSCA as well as with various other international regulators including the Financial Services Commission (Mauritius), the Financial Conduct Authority (United Kingdom) and the Cyprus Securities and Exchange Commission (Cyprus).

The FSCA wishes to inform the public that Global Investors Choice is not registered as an FSP and is not authorized to provide any financial advisory & intermediary services as defined in the various financial sector laws of South Africa. The false information that Global Investors Choice is an FSP can be misleading to unsuspecting investors and the public is advised to exercise extreme caution.

Attempts were made to obtain a response from Global Investors Choice to the allegations, however to date the FSCA has received no response. 

The FSCA warns that 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. 

It again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA as to whether or not such institution or person is authorised to render financial services.