Company Background
IsandisoFX is operated by Isandiso Sethu Investments (Pty) Ltd, but apart from revealing the name of this entity, no further details about IsandisoFX have been disclosed. We were unable to find information about the company's founders, management team, or its history. The lack of such information could affect IsandisoFX's transparency and trustworthiness. As a result, investors should exercise greater caution when selecting IsandisoFX to ensure its legitimacy and operational stability.
Domain Registration of IsandisoFX
According to the Whois query, the domain name for the company's official website was registered on August 10, 2023, within the last year.
Is IsandisoFX legit or a scam? Does IsandisoFX have any regulatory licenses?
IsandisoFX claims to be authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, with its operating entity being Isandiso Sethu Investments (Pty) Ltd. According to FSCA records, the company is registered under number 2021/06263/07 and was authorized on June 23, 2023. Its approved business scope includes various financial products, such as long- and short-term insurance, retail pension benefits, money market instruments, derivatives, and collective investment scheme participation rights.
However, the approved business categories don’t exactly match the Forex, precious metals, stock index, and commodity CFD trading services IsandisoFX claims to offer. While the term "derivatives" is mentioned, it doesn’t seem to fully cover the regulatory support needed for forex trading. To put it simply, IsandisoFX’s self-declared business activities don’t entirely line up with its regulatory license.
As a self-proclaimed "regulated" broker, the lack of clear alignment between its core activities and its regulatory approval raises some serious questions about its legitimacy and transparency. Investors should certainly consider this mismatch a potential risk. Combined with its short time in the market and regulatory vagueness, it’s no wonder potential users might feel a bit uneasy.
Employees of IsandisoFX
Traderknows was unable to find any information about the company's team members on public platforms.
Trading Software Provided by IsandisoFX
The official website of IsandisoFX indicates that the company provides MetaTrader 5 (MT5) trading software for investors. The MT5 software offered by IsandisoFX is available in desktop versions for both Windows and MacOS, a web-based version, as well as mobile versions for both iOS and Android.
Trading Products Provided by IsandisoFX
The IsandisoFX official website indicates that the company offers trading services for forex, metals, commodities, and indices to investors. On the website, investors can review specific trading product spreads and overnight interest information. However, detailed information regarding commissions, minimum trade units, maximum trade units, etc., is not provided on the official website. The broker offers investors three different types of trading accounts: Mini, Standard, and Managed, with variations in spreads among these account types. The "Trading Products" page on the website displays information on the margin (leverage) ratios for specific trading products.
Contact Information
Investors can contact Orfinex through various methods such as: phone, email and Telegram.
Conclusion
IsandisoFX is a brokerage established in 2023, operated by Isandiso Sethu Investments (Pty) Ltd and headquartered in South Africa. The platform offers trading services primarily in forex and precious metals. While IsandisoFX is regulated by the FSCA, there is a discrepancy between its authorized scope and its actual operations. Additionally, the platform lacks sufficient transparency in its online information. Investors are advised to carefully evaluate IsandisoFX's legitimacy and reliability before making decisions.
