FSCA Warns Public Against Global TradeATF/Bayline Trading Ltd

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with Global TradeATF/Bayline Trading Ltd.

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Having received information from members of the public, the FSCA found the following information on the entity. Global TradeATF is operated by Bayline Global World Ltd – a United Kingdom (UK) based entity while Bayline Trading is situated in Belize. Additionally, Global TradeATF's website creates the impression that Global TradeATF provides foreign exchange (forex) trading platforms for clients to trade in Contracts for Difference (CFDs). The FSCA would like to confirm that Global TradeATF, Bayline Trading and Bayline Global World Ltd are not authorised by the FSCA as a financial services provider (FSP). 

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.