Stroke victim loses R450,000 disability money on online trading platform

Loading player...
Another BizNews tribe member has suffered a huge online trading platform loss. In this interview with Chris Steyn, Tommy Salem describes how he ended up on the FXSI platform after clicking on a clip showing AfriForum’s Kallie Kriel before losing R450 000 in two months. It was money Tommy could ill afford to lose: “I had a stroke. So I was at home for a year and I was busy with the therapy and that didn't work out and the company then decided to put me on permanent incapacity leave. ..That was money I received from my insurance and my incapacity benefit…it's painful to lose so much money…” In its response to BizNews, FXSI stated: “The complaint was received on 28 July 2026, acknowledged, and remains under formal investigation…As the matter is ongoing, it would be inappropriate to comment publicly on the allegations or speculate on the outcome.”
4 Aug 11AM English South Africa Investing · Business News

Other recent episodes

SA's Competition Commission has become a handbrake on the economy: Rob Rose

Bryan Brownrigg was never a currency trader. He sold foreign exchange to Standard Bank's institutional clients for 23 years. But when the Competition Commission decided that 28 banks had run a single conspiracy to rig the rand, his name went into the complaint anyway, and it took a decade and…
11 Sep 7AM 20 min

He built a $1.5bn bank. Now Revolut, Discovery Bank and PEP are circling

In this interview with Irakli Rekhviashvili, Tyme Group co-founder Coenraad Jonker gives his take on what actually protects a digital bank once the competition catches up, and why he thinks the old rules of banking no longer apply. On competitive advantage, he says: "I'm saying to my guys increasingly, I…
11 Sep 7AM 50 min