Warning against conducting securities trading with Vantage Markets (Pty) Ltd

The Danish Financial Supervisory Authority (FSA) warns against conducting securities trading with Vantage Markets (Pty) Ltd (“Vantage Markets”).

The Danish FSA has been informed that Vantage Markets investment services and activities are being marketed to Danish clients. 

Vantage Markets does not have authorization from the Danish Financial Supervisory Authority to carry out such services in Denmark in accordance with the Danish Investment Firm Act. The company has not been notified in Denmark by any foreign Financial Supervisory Authority.

It is a violation of the Investment Firm Act to offer investment services and activities in Denmark without a license.

Vantage Markets’ website is www.vantagemarkets.com.

The trading platform is being marketed by Danish-speaking finfluencers (influencers who share their advice, opinion, and knowledge about investment via social media). The finfluencers are often sponsored by a trading platform and they therefore receive a fee if they get new customers to use the trading platform. The Danish FSA calls for caution in relation to the promotion of foreign trading platforms as there is an increasing number of companies/persons that try to get Danish investors to use trading platforms that are not subject to supervision in Denmark. If one makes use of a trading platform such as Vantage Markets to deal with financial instruments, he/she is not ensured investor protection. This means, among other things, that investors cannot issue a complaint to The Danish Financial Complaint Board and that the investments are not covered by the Danish Guarantee Fund. Thus, the investor is unlikely to get his/her money back if things go wrong.

The Danish FSA's business register contains information on which companies are authorized to offer financial services in Denmark. The Danish FSA's website also contains information on identifying fraud companies and how to avoid them, under Avoid fraud.