FSCA Permanently Withdraws Afrimarkets Capital Licence

South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA), has permanently withdrawn the licence of online trading firm Afrimarkets Capital (Pty) Ltd (FSP 52813). The firm is no longer permitted to operate as a licensed financial services provider in the country.

The FSCA first took provisional action against Afrimarkets on 4 July 2025, after an investigation revealed serious concerns about the firm’s conduct. Following this, Afrimarkets was given an opportunity to respond before the regulator confirmed the final withdrawal.

According to the FSCA, the firm misappropriated client funds, provided advice without proper authorisation, and gave clients and the regulator false or misleading information. The authority also found that Afrimarkets promised unrealistic investment returns and failed to act in the best interests of its clients.

The licence withdrawal has caused immediate disruption for clients. Afrimarkets announced that bank accounts have been suspended, deposits and withdrawals are blocked, and open positions must be managed directly by clients, as the platform cannot act on their behalf.

Afrimarkets has publicly rejected the allegations, stating that it remains committed to regulatory compliance and is working with banks and authorities to resolve the situation. The FSCA has previously noted links between Afrimarkets and another online trading firm, Banxso (Pty) Ltd, whose licence was also withdrawn due to similar misconduct.

The FSCA has warned investors to exercise caution and stay informed about the status of licensed financial service providers in South Africa, as regulatory actions like this directly affect client safety and market integrity.