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Ukuchuma -

Score

1.41 /10
Danger

Ukuchuma

South Africa

2-5 years

Suspicious Regulatory License

Suspicious Overrun

High potential risk

https://ukuchumaltd.com

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Score

Regulatory Index0.00

Business Index6.22

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

UKUCHUMA FINANCIAL SERVICE (PTY) LTD

Company Abbreviation

Ukuchuma

Platform registered country and region

South Africa

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-10-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

A Visit to Ukuchuma in South Africa -- Finding No Office

The survey team went to South Africa, to visit the the dealer Ukuchuma and found no office at its business address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.

Danger South Africa

WikiFX Verification

Ukuchuma · Company summary

Risk Warning

The South Africa FSCA regulation (license number: 32535) claimed by Ukuchuma is suspected to be a clone. Please be aware of the risk!

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Ukuchuma, a trading name of UKUCHUMA FINANCIAL SERVICE (PTY) LTD, is allegedly a financial services company registered in South Africa. Here is the home page of this brokers official site:

General Information & Regulation

As for regulation, it has been verified that Ukuchuma holds a suspicious clone Financial Sector Conduct Authority (FSCA) license. That is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and receives a relatively low score of 1.22/10. Please be aware of the risk.

General Information & Regulation
General Information & Regulation

Customer Support

Ukuchumas customer support can be reached by telephone: +27 870948672, email: inquiries@ukuchumaltd.com or send messages online to get in touch. Company address: Office 1-14 1ST Floor Workshop17, 138 West Street, Sandown Sandton Gauteng 2196, South Africa.

Pros & Cons

Pros Cons
N/A • Suspicious clone
• Lack of transparency

Frequently Asked Questions (FAQs)

Q 1: Is Ukuchuma regulated？
A 1: No. It has been verified that Ukuchuma is a suspicious clone firm.
Q 2: At Ukuchuma, are there any regional restrictions for traders？
A 2: Yes. Ukuchuma does not offer its services to residents of certain jurisdictions such as the USA, Australia, Canada, Turkey and other regions as well as sanctioned countries.
Q 3: Is Ukuchuma a good broker for beginners？
A 3: No. Ukuchuma is not a good choice for beginners. Not only because of its suspicious clone condition, but also because of its lack of transparency.

User Reviews

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User comment

4

Comments

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A 冯书阳
more than one year
Ukuchuma is a Fraud. Can authorities take action against them quickly? I checked the licence mentioned on their web page. They are not regulated by FSCA. It’s a suspicious clone! They are completely fraudulent.
Ukuchuma is a Fraud. Can authorities take action against them quickly? I checked the licence mentioned on their web page. They are not regulated by FSCA. It’s a suspicious clone! They are completely fraudulent.
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2023-02-21 17:26
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FX1072434089
more than one year
A totally scammer, fake registered office address, lack of regulation, limited information displayed on its website? Who would be so foolish to trade with this broker? If you don’t worry about losing your money, go ahead.
A totally scammer, fake registered office address, lack of regulation, limited information displayed on its website? Who would be so foolish to trade with this broker? If you don’t worry about losing your money, go ahead.
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2022-12-02 15:29
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