Dear Investor,
TotalFX claims to be the brand name of Onam Trading (Pty) Ltd and is regulated by the South African Financial Sector Conduct Authority (FSCA). We have verified that this company is indeed registered in the FSCA database, with TotalFX listed as its registered brand name.
However, please note that the FSCA does not publicly disclose the operating websites of its licensed entities. Therefore, we cannot verify whether the platform you are inquiring about is genuinely operated by this licensed company.
Furthermore, the FSCA is considered an offshore regulator with relatively weak oversight, meaning its protection for investors is limited. Combined with the high volatility and inherent risks of forex trading, we cannot conclude that this platform is completely safe and reliable.
We advise you to exercise caution when trading and conduct thorough due diligence before proceeding.
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