Dear Investor,
Soolike, operating as a trading name of Soolike Capital Markets (Pty) Ltd, claims to be authorized by the Financial Sector Conduct Authority (FSCA). A search of the FSCA’s official licensing register does confirm the existence of a registered entity matching the company name. However, the FSCA does not publish the domain names or websites associated with its licensees, which makes it challenging to verify whether the online platform is legitimately connected to the licensed firm.
It is also important to note that the FSCA is generally regarded as an offshore regulator with relatively light oversight and limited investor protection mechanisms. As such, holding an FSCA license does not offer the same level of security or recourse as licensing from major regulatory bodies.
Additionally, Soolike states it holds a Money Services Business (MSB) registration with the U.S. Financial Crimes Enforcement Network (FinCEN), citing MSB number 31000266509686. While we have verified the existence of this registration in the FinCEN database, it is critical to understand that FinCEN does not regulate or supervise foreign exchange trading activities.
Given these factors, we strongly advise exercising caution when considering engagement with this broker.
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