ZumaMarkets
We checked ZumaMarkets against the AskCheck register. It has been reported (2021) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
ZumaMarkets claims that it is a trade name of Red Pine Capital (PTY) LTD, an authorized financial services provider licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The alleged parent company of ZumaMarkets is indeed licensed in South Africa. However, there's another company based in South Africa -Trade245 that is also using Red Pine's license details. The FSCA registry does not feature any trading names, nor approved domains, so there's no way to ascertain whether ZumaMarkets is indeed legit. Futhermore, Red Pine (PTY) Ltd has not responsed to confirm them yet. Both ZumaMarket and Trade245 may be cloned firms who illegally use the details of regulated firms with which they aren't related in any way.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report ZumaMarkets.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.