The Financial Sector Conduct Authority has made the provisional withdrawal of Mixirite (Pty) Ltd’s financial services provider licence final, saying it believes the company materially contravened various financial-sector laws and no longer meets the fit and proper requirements to be an FSP.
The regulator announced on 5 November 2026 that the withdrawal of Mixirite’s licence, FSP 52110, had been made final with immediate effect.
Although the licensing decision is final, the FSCA’s broader investigation into Mixirite remains under way and is at an advanced stage. The regulator has expanded the investigation to include four other companies and their key persons over possible contraventions of the prohibition on conducting unlicensed financial services business.
The FSCA provisionally withdrew Mixirite’s licence on 24 June 2026 following preliminary findings from its investigation. At the time, the regulator said there was a “real risk of harm” to clients or the public if the company continued operating as an FSP.
The provisional withdrawal prevented Mixirite from conducting further financial services business or receiving additional funds from clients while the matter was being investigated.
Mixirite was given an opportunity to respond to the provisional withdrawal and provide reasons why it should be lifted or not made final. The company submitted representations, which the FSCA considered together with its preliminary investigation findings before making the withdrawal final with immediate effect.
The regulator said Mixirite did not oppose the provisional withdrawal being made final. However, the company disagreed with the preliminary investigation findings.
According to the FSCA, its findings included that Mixirite’s agents used aggressive, manipulative, and high-pressure sales techniques when dealing with clients.
The regulator also identified the provision of financial advice by individuals who were not authorised representatives, promises of unrealistic or guaranteed returns, failures to conduct appropriate suitability and needs analyses, inadequate risk disclosures to clients, and significant overall governance concerns.
At the time of the provisional withdrawal, disclosures on the websites of the online trading platforms UMarketPro and Protea Markets stated that they were operated by Mixirite under FSP licence 52110. The platforms offered retail clients access to products including forex, shares, commodities, and indices.
Investigation widened to four companies
The FSCA said it had expanded the scope of its investigation to include Complyxpert (Pty) Ltd, Start Stream (Pty) Ltd, Rayn Investments (Pty) Ltd, and Advice 365 (Pty) Ltd, as well as the key persons associated with these entities.
The companies and their key persons are being investigated for possible contraventions of section 7(1) of the Financial Advisory and Intermediary Services Act. The provision prohibits a person from acting or offering to act as a financial services provider unless that person has been issued with a licence under section 8.
The FSCA’s statement does not say the four companies or their key persons have been found to have contravened the Act. The possible contraventions remain under investigation.
The regulator said it could not disclose further details because of the sensitivity of the matters and the need to preserve the integrity of the investigative process. It will provide further public updates concerning the investigation and decisions arising from it at the appropriate time.
Previous scrutiny
The final withdrawal follows earlier scrutiny of Mixirite and the trading platforms operating under its licence.
As previously reported by Moonstone, Moneyweb identified apparent links among Mixirite, UMarketPro, Protea Markets, Banxso, and Afrimarkets through overlapping directors, key personnel, and authorised representatives.
The FSCA’s latest statement does not refer to those reported links or indicate whether they form part of its investigation.
