About Veracity Markets
Overview
Veracity Markets is a forex and CFD broker founded on 12 June 2020 and headquartered in South Africa. The broker operates the website veracitymarkets.com and is registered at 155 West Street, Sandown, Sandton, 2031.
The broker presents itself as a provider of leveraged trading services, offering three account types: Standard, Pro, and ECN accounts. Each requires a minimum deposit of $250 and offers maximum leverage of 1:500.
Regulation
Veracity Markets lists the Financial Sector Conduct Authority (FSCA) of South Africa as its regulator, holding a Derivatives Trading License. However, the license status is marked as not specified in our records, and the company description notes that Veracity Markets stands for Nirvesh Financial Service Pty Ltd, a company under no regulation.
This ambiguity in regulatory status is a significant point of caution for potential traders. The broker's compliance with South African financial regulations appears uncertain, and we were unable to confirm an active regulatory standing.
Account Types
The broker offers three account tiers: Standard Account, Pro Account, and ECN Account. All three require a minimum deposit of $250 and provide a maximum leverage of 1:500. The ECN account typically offers direct market access with variable spreads, while the Standard and Pro accounts may have different fee structures.
Detailed specifications such as spreads, commissions, and execution models are not publicly available due to the broker's website being under construction. Traders are advised to seek further information directly from the broker.
Funding and Platforms
Information regarding accepted deposit and withdrawal methods is not currently published on the broker's website. Similarly, the trading platforms supported by Veracity Markets have not been disclosed.
The lack of accessible information on these critical aspects adds to the broker's limited transparency. Potential clients should request these details before committing funds.
Company Background
Veracity Markets is operated by Nirvesh Financial Service Pty Ltd, a company registered in South Africa. The directors include Dane Ashley Mesane and Shelley Ann du Plessis, as indicated in a company document.
The broker has a presence on social media platforms Facebook and Instagram, but its main website remains under construction as of the time of this review. This raises questions about the broker's operational readiness.
Conclusion
Veracity Markets is a relatively new broker with an unclear regulatory status and limited publicly available information. Traders should exercise extreme caution and conduct thorough due diligence before considering engagement.
The guarded risk score of 49/100 reflects these concerns. We advise traders to prioritize regulated brokers with transparent operations.
Overview compiled by FXCanary from regulatory records and public data. full Veracity Markets review