On May 24, 2023, the Financial Services Authority of Seychelles (FSA) issued a warning against Torex Wealth, saying the broker found at website https://torexwealth.co.za/ has no association with any entity licensed or regulated by the FSA in any capacity: https://fsaseychelles.sc/media-corner/regulatory-updates/unauthorized-use-of-websites-the-unlawful-website-4

Torex Wealth claims to be the trading name of GCMT Limited, a company regulated and authorized by the Financial Services Authority of Seychelles (FSA Seychelles). However, our research about this broker reveals a different story that Torex Wealth is suspected of coping details and the website context of GCMT Limited to appear legitimate and deceive unsuspecting investors. As stated in the warning by the FSA Seychelles, Torex Wealth has no association with any FSA licensed or authorized entity. Therefore, Torex Wealth is not operated by GCMT Limited, and all the relevant claims are false statements.

In essence, Torex Wealth is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

BrokersView found that the domain "https://torexwealth.co.za/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.