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Veracity-Markets Review {year} | Information about Veracity-Markets Forex Broker - BrokersView

Operating status: SCAM

Website: https://veracitymarkets.com

Broker violations and abnormal records
  • Apr 18, 2021 BrokersView has reviewed that Veracity Markets is an unregulated forex broker
    Veracity Markets claims to be regulated by South Africa’s Financial Sector Conduct Authority (FSCA), but it’s actually not regulated by any financial regulator when we checked on FSCA. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Related Complaints

Q&A

My withdrawal took much longer than before, is it a scam??

jon oliver
Croatia
Mar 29, 2023
ANSWER Veracity Markets is a non-regulated broker even though it states offers that look too good to be true.Veracity Markets claims to operated by Veracity Markets (Pty) Ltd based in South Africa with registration number 2018/515174/07, regulated by the Financial Services Conduct Authority (FSCA). However, when we searched FSCA's registry, we found the status of this broker is "applied", not "authorised". That means it is currently not authorized and regulated by FSCA. In addition, the FSCA has directed Veracity Markets to cease trading and you can check the press release from here.Regarding your question, Veracity Markets is an unlicensed broker, put simply, a scam. And that is the reason why your withdrawal took much longer than before. Letting this broker hold and control your funds or trading with them is very risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we would suggest investors stay away from such unlicensed brokers as Veracity Markets and trade with fully regulated brokers.
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