Brief Look at Maleyat
Maleyat is raising serious concerns within the trading community and is increasingly regarded as a potentially fraudulent broker. The company has ceased operations, and its website is no longer accessible. This development follows a series of serious issues, including lack of proper regulation, fraud allegations, and multiple client complaints.
Maleyat claimed to operate under license No. 51598 from South Africa’s Financial Sector Conduct Authority (FSCA), but it was identified as a “clone firm,” suggesting it may have used fake or stolen registration credentials. In May 2024, the Securities and Commodities Authority (SCA) in the UAE also issued an official warning, confirming that Maleyat Group was not licensed to carry out regulated financial activities in the country.
Clients reported being unable to withdraw funds, noted a lack of transparency, and identified the use of fake staff images on the website. Reviews highlighted unrealistic return promises and aggressive investor targeting.
Suspicion deepened after Maleyat attempted to expand in the MENA region in 2024 through a partnership with MCG Introduction Services, a licensed UAE firm. The partnership failed to improve the broker’s reputation. By 2025, its website had gone offline, and no FSCA license remained associated with the firm.
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