The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Jama Nimrod Mthimunye known as Captain Blue FX on social media. The FSCA received information that Captain Blue FX is providing members of the public with forex signals and forex trading advice.
Without commenting on the business activities of Captain Blue FX, the FSCA confirms that Captain Blue FX is not authorised by the FSCA to provide financial services to members of the public. The FSCA was unable to reach Captain Blue FX on the contact details provided to it.
To avoid unnecessary risk, the public should not accept financial advice, assistance, or investment offers from individuals or entities that are not authorised by the FSCA.
Authorised financial services providers must clearly display their authorisation status in their documentation. If this is not present, it is advised to further investigate before making any payments.
The public is strongly urged to exercise caution when considering unsolicited investment or trading offers, especially those communicated through social media. The public is urged to act with care when investing their funds. There are many fraudsters operating scams, and the number is growing. South Africans lose millions of rands every year to fraudsters. Illegal operations are sometimes well-disguised as legitimate operations.