One cannot help but wonder if people will pay attention to the warning issued by the Financial Sector Conduct Authority (FSCA) against doing business with or investing money in Cash FX Group (CashFX).
The recent warning raises a few questions: Do promoters of and investors in such schemes even know about these warnings? If they do, do they care? Do they even think that CashFX might be a pyramid scheme?
The FSCA warning merely states that Cash FX is not licensed to give financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act. The FSCA says the CashFX website “creates the impression that it provides a foreign exchange trading platform” and seems to trade on behalf of clients via “copy trading”.