ANSWER ZumaMarkets is a suspicious clone and should be avoided at all events. ZumaMarkets claims that it is a trading name of Red Pine Capital (PTY) LTD, an authorized financial services provider licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The alleged parent company - Red Pine Capital (PTY) LTD is indeed licensed in South Africa. However, there's another company based in South Africa -Trade245 that is also using Red Pine's license details. The FSCA registry does not feature any trading names, nor approved domains, so there's no way to ascertain whether ZumaMarkets is indeed legit. Furthermore, Red Pine (PTY) Ltd has not responded to confirm them yet. All in all, both ZumaMarket and Trade245 may be clone firms that illegally use the details of regulated firms with which they aren't related in any way. We recommend traders stay away from ZumaMarkets and choose properly regulated brokers.
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