Nikhil Aiyush Kumar 
The South Pacific Stock Exchange has noted an increase in walk-ins as interest in the stock market gains traction.
However, it warns individuals to be cautious of scammers posing as legitimate stock market brokers.
The exchange advises that those interested in joining the SPX should follow the proper channels.
SPX Chief Executive Sheraj Obeyeskere emphasizes that raising timely awareness is crucial to keeping the public well-informed.
“So investing in the stock market has to be done through three stock broker firms that are regulated by the Reserve Bank of Fiji, Fijian Holdings Stock Brokers, Fiji Stock Brokers and Kontiki stock Brokers. These three firms have registered investment advisors who are also licensed by the Reserve Bank of Fiji.”
Obeyeskere notes that some may attempt to exploit the growing interest in the stock market.
He adds that past trends indicate potential scammers trying to take advantage of the increasing enthusiasm for investing.
The Chief Executive clarifies that while they have not encountered any scams yet, potential fraudsters may seek to capitalize on the stock market’s growth.
Chair of the South Pacific Stock Exchange, Nitin Gandhi, assures the public that proper safeguards are in place to protect their interests.
“We haven’t quite experienced all that, but we have sufficient safeguards in our trading platform that will detect or will monitor. We can see the trends, we can see the pattern, we can see daily movements in the trading market, and we are able to easily identify if there are any illegal, illicit or abnormal type of transactions.”
The SPX urges the public to conduct thorough research, verify brokers, and avoid shortcuts, emphasizing that in the world of investing, patience and due diligence pay off.
