South African Regulator Warns Against Using Mirror Trading International
A month after the Texas State Securities Board took action against Mirror Trading International (MTI), South Africa's Financial Services Conduct Authority (FSCA) is also investigating the company's trading activities.
According to the information MTI shared with FSCA, the company conducts high-frequency derivatives trades using bots on behalf of its clients.
The financial watchdog said in a statement that the current business model of MTI requires it to own a financial service provider license but it does not seem to have one.
