Thread: Forex Investment Association

The FIA is the only recognised forex regulatory institution in South Africa.
The FIA is a Recognized Representative Body in terms of the FAIS Act.
All Forex Services Providers, i.e. IB`s and money managers, soliciting forex investments in self-directed or managed forex accounts will be required to register as a Financial Services Provider with the FSB.
As a recognized representative body the FIA can facilitate such registrations - and at a reduced fee.

Visit the FIA at www.forex.org.za for more information.

There is a membership category for self-directed traders, investors, FX service providers as well as solicitors of managed forex accounts.

The FIA is in the finalisation phase of a Code of Conduct to be included as part of the sub-legislation of the FAIS Act.

Compliance with the FIA`s own Code will mean compliance with the Regulatory Code.

The FIA is a self-regulatory organisation and membership is voluntary.
You should ask questions of forex service providers who do not suppurt any form of regulation in an new industry full of scams, crooks and fly-by-nights!

Become credible - join the FIA!

www.dayforex.com
Chance favours the prepared mind!

Dear Sir,

I have the following questions about the FIA:

1.
Is it a non-profit organisation?
2.
Is the FIA only for South African firms or world wide?
3.
Is the South African Reserve Bank involved in the FIA?
4.
What is the fees to join the FIA?
5.
What benefit do your organisation get if you are a member of the FIA?

Answers to your questions above.

1. Yes
2. The focus is on South Africa
3. No.
The FIA has from time-to-time discussions with relevant departments of the Resbank regarding abuses in the FX investment industry.
4. See www.forex.org.za
5. As an industry association the FIA is an important link in the regulatory chain in South Africa and currently the only mouthpiece for role-players in the industry in South Africa.

As recognized representative body ito the FAIS Act the FIA will in future perform all functions of a Rec. body.
It is envisaged that these functions will be extended to further industry supervisory roles.
At this stage includes assitance with applications to be authorised as FSP in South Africa.