Fake forex offers, questionable loans: FSCA issues consumer warning
The FSCA has warned consumers about three unauthorised financial operations allegedly impersonating legitimate businesses, while making Mixirite's licence withdrawal final.
The Financial Sector Conduct Authority (FSCA) has issued a consumer warning about operations allegedly using legitimate financial business identities to target South Africans with investment, forex trading and loan offers. The warnings were issued on November 6, 2026, concerning Discovery Online Trade Plus, Halifax Loans SA and individuals using the identity of Aeon Investment Management to promote forex trading via WhatsApp.
The FSCA also announced the final withdrawal of Mixirite's financial services provider licence due to aggressive sales tactics, unrealistic returns promises and governance concerns. The regulator highlighted three operations not authorised to provide financial services and lacking association with the legitimate businesses whose details they allegedly used.
Discovery Online Trade Plus was identified as presenting itself as an authorised financial services provider using the FSP number of Gikuyu Brokers Investments, which confirmed no affiliation. Halifax Loans SA allegedly used Halifax Insurance Brokers' details for loan offers, while individuals using Aeon Investment Management's credentials for forex trading through WhatsApp were also warned.
The FSCA urged consumers to be cautious of unsolicited offers, especially those on social media, and to verify a business's authorisation status before accepting financial advice or making payments.
Written by urgent.news from IOL's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
