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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsNo—not according to the Financial Sector Conduct Authority’s records cited in its notice dated 28 October 2024. The FSCA said Solis Markets was not an authorised financial services provider (FSP) and was not a juristic representative of Eklavya Asset Management or another authorised FSP at that time. The notice also said an investigation was under way and that the regulator had made no findings. That is a historical status, not confirmation of Solis Markets’ current position; check the live FSCA register before relying on any claim of authorisation.
What the FSCA said about Solis Markets
In its 28 October 2024 notice, the FSCA said its records showed that Solis Markets was not an authorised FSP and was not a juristic representative of Eklavya Asset Management (Pty) Ltd or another authorised FSP. This answers the question of what the regulator’s records showed on that date; it does not establish Solis Markets’ status today.
Solis Markets claimed to be “powered by Eklavya Asset Management (Pty) Ltd.” The FSCA said Eklavya had advised it that Solis was a trading platform Eklavya utilised. Those descriptions do not, by themselves, establish that Solis Markets was licensed or formally authorised as Eklavya’s juristic representative.
What the investigation notice did—and did not—establish
The FSCA said it was investigating after receiving client complaints alleging that investments had been intercepted by Solis Markets and funds had not been paid following withdrawal requests. These were allegations reported as the reason for the investigation, not proven misconduct or findings against Solis Markets.
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The regulator stated: “The FSCA emphasise that the investigation is not completed and that it has made no findings to date.” The notice therefore should not be read as a final determination about the allegations.
How to check whether a trading provider is authorised in South Africa
Do not rely on a platform’s branding, an “authorised partner” description, or a claim that it is “powered by” another company. Confirm the legal entity behind the service, its current registration, and whether its authorisation covers the product being offered.
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- Find the exact legal name of the firm that will provide the service. A trading platform’s brand name may differ from the licensed entity’s name.
- Search the FSCA’s entity search and confirm the entity’s current registration status.
- Check the authorisation category and scope against the service you intend to use. The FSCA advises consumers to confirm that a provider is authorised for the particular financial product or service.
- If the platform offers forex or contracts for difference (CFDs), check whether the provider also holds the relevant OTC Derivative Provider (ODP) licence. The FSCA has warned that FSP authorisation alone is not sufficient to offer CFDs.
- Compare the details you find with the legal entity and service named in the platform’s terms and account documents. If they do not match, ask the provider and the FSCA to clarify before depositing funds.
What the later Eklavya listing means for Solis Markets
The FSCA homepage search listing includes a later release titled “FSCA Provisionally Withdraws the FSP Licence of Eklavya Asset Managers (Pty) Ltd.” The listing available here does not establish the release date, its details, or whether the action affects Solis Markets. It is not enough to conclude that Eklavya’s licence is currently withdrawn, or to determine Solis Markets’ present status. Check the full FSCA notice and current register for the latest information.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to interpret Solis Markets’ licensing claim
The best-supported conclusion is limited but important: the FSCA said Solis Markets was neither an authorised FSP nor a juristic representative of an authorised FSP according to its records on 28 October 2024. Its notice described a continuing investigation without findings. Because that notice is not a live-register check, anyone considering the platform should verify the current legal entity and product-specific permissions directly with the FSCA.
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