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Torex Wealth

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Operating status: SCAM

Website: https://torexwealth.co.za/

Broker violations and abnormal records
  • 2023-05-23 The Seychelles FSA issued a warning against Torex Wealth

    On May 24, 2023, the Financial Services Authority of Seychelles (FSA) issued a warning against Torex Wealth, saying the broker found at website https://torexwealth.co.za/ has no association with any entity licensed or regulated by the FSA in any capacity: https://fsaseychelles.sc/media-corner/regulatory-updates/unauthorized-use-of-websites-the-unlawful-website-4

    On May 24, 2023, the Financial Services Authority of Seychelles (FSA) issued a warning against Torex Wealth, saying the broker found at website https://torexwealth.co.za/ has no association with any entity licensed or regulated by the FSA in any capacity: https://fsaseychelles.sc/media-corner/regulatory-updates/unauthorized-use-of-websites-the-unlawful-website-4
  • 2023-05-24 BrokersView has reviewed that Torex Wealth is an unregulated broker

    Torex Wealth claims to be the trading name of GCMT Limited, a company regulated and authorized by the Financial Services Authority of Seychelles (FSA Seychelles). However, our research about this broker reveals a different story that Torex Wealth is suspected of coping details and the website context of GCMT Limited to appear legitimate and deceive unsuspecting investors. As stated in the warning by the FSA Seychelles, Torex Wealth has no association with any FSA licensed or authorized entity. Therefore, Torex Wealth is not operated by GCMT Limited, and all the relevant claims are false statements.

    In essence, Torex Wealth is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    Torex Wealth claims to be the trading name of GCMT Limited, a company regulated and authorized by the Financial Services Authority of Seychelles (FSA Seychelles). However, our research about this broker reveals a different story that Torex Wealth is suspected of coping details and the website context of GCMT Limited to appear legitimate and deceive unsuspecting investors. As stated in the warning by the FSA Seychelles, Torex Wealth has no association with any FSA licensed or authorized entity. Therefore, Torex Wealth is not operated by GCMT Limited, and all the relevant claims are false statements.In essence, Torex Wealth is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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