Score

1.37 /10
Danger

Veracity Markets

South Africa

2-5 years

Suspicious Regulatory License

MT4/5 White Label

Regional Brokers

Suspicious Overrun

High potential risk

Influence

B

Better than 65.0% brokers
Open Account
Website

Score

License Index0.00

Business Index5.89

Risk Management Index0.00

Software Index4.00

Regulatory Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!

Influence

B

Better than 65.0% brokers
Website
Open Account

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open for free

Contact number

English

+27 (0) 87 012 5545

Broker Information

More

Company Name

Veracity Markets (Pty) Ltd

Company Abbreviation

Veracity Markets

Platform registered country and region

South Africa

Company website

Facebook

Instagram

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 4
Previous Detection : 2022-10-07
  • It has been verified that this broker currently has no valid regulatory, please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 7 for this broker in the past 3 months, please be aware of the risk and the potential scam!

WikiFX Verification

Pyramid scheme complaint
Expose

News

NewsVeracity Markets is ordered to cease trading by FSCA.

The Financial Sector Conduct Authority (FSCA) has ordered Veracity Markets, which has around 400 000 clients, to cease trading due to its use of illegal over-the-counter (OTC) derivatives and potential violations of other financial regulations.

WikiFX
2022-07-27 16:51
Veracity Markets is ordered to cease trading by FSCA.

NewsBreaking News! FSCA issued a statement against Veracity Markets asking for a complete shutdown.

Previously, WikiFX reported that a South Africa-rooted forex broker, Veracity Markets, has been accused of withdrawal refusal. Many traders lost control of their funds after investing in Veracity Markets. Then FSCA, the South Africa-based regulator decided to suspend Veracity Markets but didn’t launch official announcement yet. On July 13, 2022, FSCA finally made a statement about the case of Veracity Markets.

WikiFX
2022-07-15 17:29
Breaking News! FSCA issued a statement against Veracity Markets asking for a complete shutdown.

NewsVeracity Markets: What's Going On and Are They Closing?

For the majority of traders who have been utilizing authenticity markets, this is dismal news. However, there have been warnings regarding this broker, but we chose not to heed them. I want to emphasize that it was a nice break since I have personally used it.

WikiFX
2022-07-07 15:57
Veracity Markets: What's Going On and Are They Closing?

NewsVeracity Markets Suspension

South African broker Veracity Markets has been ordered by the Financial Sector Conduct Authority (FSCA) of South Africa to cease all operations effectively immediately from the first of July. This is an unprecedented unfolding of events as it puts under question the actions of this broker and it also affects the traders who are currently using this broker. So the next question is why. Why was the broker suspended and what does this mean for its customers?

WikiFX
2022-07-05 16:16
Veracity Markets Suspension

NewsWikiFX Review: Why do some investors feel upset about Veracity Markets?

Founded in 2020, Veracity Markets is an online forex broker based in South Africa. Veracity Markets stands for Nirvesh Financial Service Pty Ltd, a company under no regulation. Recently, a lot of investors shared their experience with WikiFX about investing in Veracity Markets. In this article, WikiFX analyzes the reliability of this broker from specific information, regulation, exposure, etc to give you a comprehensive understanding of this broker.

WikiFX
2022-06-28 16:54
WikiFX Review: Why do some investors feel upset about Veracity Markets?

NewsCURRENT STATE OF THE SOUTH AFRICAN FOREX INDUSTRY

With South Africa quickly emerging as a big global player in the forex industry, boating trading volumes that exceed $21 billion in recent years, South Africa has quickly become the African hub for forex traders and brokers but even with the FSCA in place, unsavory elements still manage to find its way to the surface, here we look at the good, the bad and the ugly of the South African market.

WikiFX
2022-05-20 19:07
CURRENT STATE OF THE SOUTH AFRICAN FOREX INDUSTRY

NewsLoad shedding, floods, reduced global economy, and the war in Ukraine have all harmed the Rand

As a result of the breakdown of two more generating units yesterday, Eskom increased its rotating power cuts to Stage 4, extending load shedding until Friday morning. In the best-case scenario, the power utility predicted 37 days of load shedding, but the worst-case scenario could see the country without electricity for 100 days this winter. Load shedding is expected to cost the South African economy R500 million per stage a day in 2022, as economic activity comes to a halt during power outages.

WikiFX
2022-05-20 13:44
Load shedding, floods, reduced global economy, and the war in Ukraine have all harmed the Rand

NewsHow to win big in the forex market: A guide for South African traders

To win big in the forex market, the trader must first learn how to trade. Only good traders can hope to benefit from the forex market. Proper Knowledge of the market structure remains the greatest secret of successful forex traders.

WikiFX
2022-05-18 16:42
How to win big in the forex market: A guide for South African traders

NewsWikiFX report: Veracity Markets Review- Regulation, Account Types Deposit, Withdrawals, and Much Mor

Are you looking for a reliable and honest Veracity Markets review? If that's the case, you've come to the correct place. In this article, we'll go through the different account kinds that Veracity has to offer. You will also learn about the details of deposits and withdrawals. So let's get started.

WikiFX
2022-05-18 14:39
WikiFX report: Veracity Markets Review- Regulation, Account Types Deposit, Withdrawals, and Much Mor

NewsWikiFX report: Veracity Markets News

Veracity Markets has the ability to cause significant losses to his clients and is thus, in our judgment, a potential scammer. This element, on the other hand, demands special attention because it is frequently a target for brokerage frauds. Many fraudulent brokers, for example, charge excessive withdrawal costs that do not just cover service fees. Unfortunately, many non-withdrawal brokers hide behind these arguments to give the idea that they are not con artists.

WikiFX
2022-05-18 14:26
WikiFX report: Veracity Markets News

NewsDESPITE THE CBN'S PROHIBITION, 33.4 MILLION NIGERIANS TRADE CRYPTOCURRENCY

Despite the Central Bank of Nigeria's prohibition on cryptocurrency-related activities in the banking sector, a crypto platform said that over 33.4 million Nigerians trade or hold crypto assets.

WikiFX
2022-05-14 12:00
DESPITE THE CBN'S PROHIBITION, 33.4 MILLION NIGERIANS TRADE CRYPTOCURRENCY

NewsAs a new source of income, South Africans are turning to forex trading

Forex (foreign exchange) is almost certainly something you've heard or read about, demonstrating how widely it's used. However, there are many people who are interested but lack a basic understanding of how the South African financial market works or just do not know where to begin.

WikiFX
2022-05-04 15:08
As a new source of income, South Africans are turning to forex trading

NewsALLEGED FOREX SCAM: THE COURT ORDERS CBN TO UNFREEZE THE ACCOUNT OF OF OJUKWU'S THAT HAS BEEN FROZEN

The federal high court in Abuja has ordered the central bank of Nigeria, CBN, to unfreeze the account of ojukwu that has been frozen which is controlled by Mr. chikaosolu ojukwu and his firm, stabilization energy ltd.

WikiFX
2022-05-01 12:00
ALLEGED FOREX SCAM: THE COURT ORDERS CBN TO UNFREEZE THE ACCOUNT OF OF OJUKWU'S THAT HAS BEEN FROZEN

NewsTOP FOREX SCAMS TO LOOK OUT FOR IN SOUTH AFRICA

In my last article I gave an insiders perspective on two signals groups and also a not so attractive broker of which I personally invested money in the form of a joining fee and trading capital and actively traded the live markets using these below average services, if you have read my last article why I refer to this endeavor as below average, unprofitable and super frustrating.

WikiFX
2022-04-29 11:07
TOP FOREX SCAMS TO LOOK OUT FOR IN SOUTH AFRICA

NewsWikiFX announces new functions : powerful tools that can enhance your trading results

The scientific data analysis of forex tools provides a certain reference value for your capital management. In this article, we will introduce you to Pivot Points Calculator, Pips Calculator, Fibonacci Calculator, Position Quantity Calculator, and Trader Comparison.

WikiFX
2022-04-23 12:00
WikiFX announces new functions : powerful tools that can enhance your trading results

NewsSouth Africa is experimenting with a new digital money

The BIS Innovation Hub and the South African Reserve Bank have announced the completion of a prototype system that allows international settlements to be made using central bank digital currencies.

WikiFX
2022-04-17 12:00
South Africa is experimenting with a new digital money
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