Is veracity markets back?

@thabokgosi - 8 months ago - Forex Brokers

I got my money stuck in Veracity Markets when they were asked to stop operations by the FSCA but I want to know if the rumors are true and of they are really back so I can get my funds.

@josiah_edem - 8 months ago

No, Veracity Markets is not back as they have been blacklisted by the FSCA and asked to return customer funds and seize operations.

The FSCA also asked Veracity Markets to withdraw its request/application for an FSP license (recall that they were only acting as a representative to another forex broker in the past).

So, Veracity Markets is closed and will remain closed; I suggest you approach the FSCA on how to retrieve your trapped funds with Veracity.

@dipuo_kefilwe - 8 months ago

Quoted - josiah_edem

No, Veracity Markets is not back as they have been blacklisted by the FSCA and asked to return customer funds and seize operations.

The FSCA also asked Veracity Markets to withdraw its request/application for an FSP license (recall that they were only acting as a representative to another forex broker in the past).

So, Veracity Markets is closed and will remain closed; I suggest you approach the FSCA on how to retrieve your trapped funds with Veracity.

A friend of mine lost money to veracity markets, I do not think they are coming back because the Financial Sector Conduct Authority (FSCA) South Africa imposed heavy fines (up to Ten Million Rand) on them and asked them to seize all operations due to illegally acting as an OTC derivative provider which was beyond the scope of their mandate at the time.

They used to be a Juristic representative of Nirvesh Financial who were the actual forex broker behind Veracity Markets. Now, I guess Nirvesh may have to do the brokerage business by themselves as the FSCA has prohibited them from using representatives again.

@ozgal_galzo - 4 months ago

Quoted - josiah_edem

No, Veracity Markets is not back as they have been blacklisted by the FSCA and asked to return customer funds and seize operations.

The FSCA also asked Veracity Markets to withdraw its request/application for an FSP license (recall that they were only acting as a representative to another forex broker in the past).

So, Veracity Markets is closed and will remain closed; I suggest you approach the FSCA on how to retrieve your trapped funds with Veracity.

There are lots of scammers claiming they can help people recover their funds from veracity markets but its all a lie. They will ask you to pay them a recovery fee, then flee with your money.