SOUTH AFRICA
Leap Rate
LeapRate Exclusive…. Sometimes real life is more interesting than even the best written script. And it is hard to get more interesting than this.
LeapRate has learned that the current regulatory troubles being experienced by one of South Africa’s leading retail forex brokers, ACM Gold, stem from the aggressive activity of its largest introducing broker, Platinum Forex.
Certainly something we’ve seen before – an aggressive IB comes up with a supposed can’t-miss method to make money trading Forex for its clients, which it then markets to unsophisticated investors. And then things don’t turn out as planned.
However this story comes with a twist.
Colin DavidsThe IB in this case, Platinum Forex, is owned and run by a very popular South African Pastor, Colin Davids (pictured at right), dubbed the ‘Pyramid’ Pastor by the Sunday Times of South Africa. The charismatic Davids, who has recently written a book entitled The Anti-Grace Gospel and whose wife Charlyn is apparently set to launch a gospel album, is reported to have used his popularity both among his followers and on social media to tout his Forex trading business. And to have used his clients’ money to finance his own very lavish lifestyle.
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