It's no longer correct to say that I haven't met with Stock Market Direct. I now have.
However I'm still confused about what Stock Market Direct actually offer that is of any real value. For instance they say that they "help" people in Botswana to register with PSG Online, the South African broker through which they encourage people to trade on the Johannesburg Securities Exchange but that doesn't seem too difficult to do by yourself.
They then provide information that helps you decide how and when to trade but this information is provided by Profile Media, a perfectly respectable South African information provider. All that Stock Market Direct do is sell you access to the Profile Media database, something else you can do yourself directly.
Then there are the bigger questions. SMD say that they provide "information on how to invest Directly, Actively and Successfully" and that they provide "Daily Tips and recommendations". That sounds like a financial service but are they registered with NBFIRA, the Non-Bank Financial Institutions Regulatory Authority?
On the other hand if they are simply an educational and training organisation are they registered with BOTA, the Botswana Training Authority?
I don't know. Do you?
Consumer Watchdog is a (fiercely) independent consumer rights and advocacy organisation campaigning on behalf of the consumers of Botswana, helping them to know their rights and to stand up against abuse. Contact us at consumerwatchdog@bes.bw or find us on Facebook by searching for Consumer Watchdog Botswana. Everything we do for the consumers of Botswana has always been and always will be entirely free.
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