Investment scams are as old as money itself. However, its risks remain pervasive as the public still falls from get-rich-quick schemes.
South Africa is among the leading targets of investment fraudsters. Such scams thrive within the borders due to the increasing wealth inequality in the country – a simple promise of quick, guaranteed returns, the public will flock to the scheme.
One platform that the Financial Sector Conduct Authority warned the public about is CMFX Trading. Offering a three-day R23,000 return from an initial R6,000 investment, the platform lives up to the primary tell-tale sign of a Ponzi scheme.
In this TRU Insight, we’ll discuss everything you need about the CMFX Trading platform. While its scam operation is yet to be confirmed, staying away from this platform could benefit your investment.
CMFX Trading Review at a Glance
Eleven days after welcoming 2025, the FSCA promptly warned the public about the potential fraud practices of CMFC Trading. According to the regulator, the platform renders financial services and solicits investments from the public without the necessary license from the regulator.
The fraud warning was made due to the unrealistic returns offered by CMFX Trading. The promised R23,000 ROI from R6,000 (almost 300% return) is unrealistic, especially in the highly volatile cryptocurrency market.
Aside from the FSCA, the platform also received a regulatory warning from the Financial Conduct Authority of the United Kingdom (UK FCA).
What Is CMFX Trading?
| Website | www.cmfxtrading.com |
| [email protected] |
CMFX Trading is a fraud-accused Bitcoin investment platform. By investing a minimum of R6,000 into the scheme, the investors were promised to receive R23,000 return on investment within three days.
This investment promise is the primary strategy of an investment scam – aimed at exploiting the enthusiasm or desperation of investors to grow their capital and secure a better financial future.
Remember, making money is never easy – unless it’s fraud-involved. Additionally, the promise of guaranteed profits from Bitcoin investment (an extremely volatile investment market) is the truth-teller of a fraud scheme operation.
Read more: 3 Signs of Scam Brokers and Tips to Avoid Them : CMFX Trading Review in 2025: The Promised R23k 3-day Bitcoin ROIIs CMFX Trading Regulated?
No, the entire operation of CMFX Trading was not under the oversight of regulators. This means that they don’t abide by any financial laws that protect the interests of investors and the overall financial markets.
Both the FSCA and UK FCA warned the public about the potential fraud operation of CMFX Trading.
##The FSCA Released Fraud Warning Against CMFX Trading
The FSCA released a fraud warning against the CMFX as it was found to be in non-compliance with the FAIS Act Section 37 of 2002.
To ensure fairness within the South African financial markets, the Financial Advisory and Intermediary Services Act of 2002 (FAIS Act of 2002) regulates all entities that wish to render financial services within the South African borders.
Specifically, section 37 of the financial law mandated that one can only provide financial services (investment advice, insurance services, loans, brokerage services, etc) if they bear the necessary license from the FSCA – the assigned financial regulator in South Africa.
The FSCA cannot contact the company for comment and clarification about their unauthorized services. Regardless, the public is advised to avoid dealing with the investment platform or any of the likes.
