FSCA Warns Public Against Finvesting

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with with an entity called Finvesting, which is potentially rendering unauthorised financial services.

According to its website, Finvesting is owned by SanaKo Service Ltd which operates the business through a website that is registered in the Republic of the Marshall Islands, providing access to a platform for trading CFDs (Contracts for Difference). Clients of Finvesting trade currency pairs, indices, metals, energies, futures, shares and swaps via the platform.

Without commenting on the business of Finvesting or its products and services, the FSCA points out that for a company to offer CFD trading in South Africa, it must be licensed to do so by the FSCA. The Authority can confirm that Finvesting is not authorised to trade in CFDs or to provide financial advisory & intermediary services in South Africa.

​The FSCA has made several attempts to contact Finvesting, but these attempts have been unsuccessful.

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.