Scammed by FXGM ZA

By Shamiel Soeker, from South Africa, March 15, 2021 at 07:02 PM

I have been scammed by this company

Answer: Hi Shamiel Soeker,

FXGM SOUTH AFRICA (PTY) LIMITED is a company incorporated and registered under the Laws of South Africa, licensed and authorised as a Financial Service Provider (FSP) by the South Africa Financial Sector Conduct Authority (FSCA, South Africa) ( ), under FSP authorisation no. 50202

We have checked the information provided on the broker’s website and it looks legit. The brokers information about regulation can be found in the register of the FSCA regulator.

If you have any issues with this broker we would recommend to report to FSCA. Since FXGM ZA is overseen by reputable authority, they will help you, especially in case you lost your investment, as it should have been protected too.

One response to “Scammed by FXGM ZA”

  1. hello, i deposited with them and they said 100% loss coverage up to 300$ per trade for 10 trades. now when the trade was -290 and my third protected trade. Their system entered an exact opposite trade and i couldnt close either of them. i am told i have to deposit more money in order to close the trades. this is unfair as i dont have any extra cash. this will cause a problem as my remaining protected trade options also disappeared.

    what must i do now? money will basically keep getting deducted untill the commission eats everything away.

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