Compliants

  1. Any query or complaint should in the first instance be raised with your usual contact at SCM DMA, using your usual method of communication as these can usually be resolved at the time.
  2. If, after raising the matter with your usual contact, your complaint has not be resolved to your satisfaction, you should direct your complaint in writing (preferably by email) to the Compliance Officer who can be contacted at peter.johnson@dma.co.za. In your email, please detail all the relevant information relating to your complaint clearly and provide any information that you think may assist us to resolve the complaint promptly.
  3. We will send a prompt written acknowledgement that your complaint has been received. The Compliance Officer will undertake an impartial review and investigation of your complaint. We attempt to resolve most complaints within 3 weeks of the receipt, however this is not always possible.
  4. If we were unable to resolve the complaint within 3 weeks, we will send a written final response to you within a further 3 weeks (6 weeks from receipt of your initial complaint).
  5. If more than 6 weeks from the date of your complaint has passed or you are dissatisfied with the final response you have received, and if you are an eligible complainant, you can refer your complaint to the FSCA through their website at the following link: https://www.fsca.co.za/Customers/Pages/Complaints-Compliments-Feedback.aspx
Please note you must refer your complaint to the FSCA within 6 months of the date of our final response and that the FSCA will not take on a complaint until we have in the first instance had the opportunity to investigate your complaint and provide you with our response.

Disclaimer

This website can be accessed worldwide however the information on the website is related to SCM DMA (“SCM DMA”) and is not specific to any other country. All clients will directly engage with SCM DMA and all client agreements will be entered into with SCM DMA and thus governed by South African Law.

Any fact, assessment, analysis, forecasts, opinion and other information (collectively “Information”) released by:

  • SCM DMA; or
  • any director, officer, employee or representative hereof


whether provided on SCM DMA’s websites, on third party websites, in marketing materials, newsletters, in individual e-mails and letters, in lectures, individual conversations or in any other form of written or verbal communication (collectively “Publications”) are provided for informational and/or marketing purposes only.

Unless specifically stated, no Publication of SCM DMA should be construed as an offer (or solicitation of an offer) to:

  • buy or sell any currency, product or financial instrument;
  • make any investment; or
  • participate in any particular trading strategy;



(collectively “Offers”).
Notwithstanding anything to the contrary (not even if specifically stated), no Publication of SCM DMA should be construed as an Offer in any jurisdiction in which such Offer would be illegal. Any such perceived Offer will not be honored by SCM DMA.

No Representation, No Warranty.

SCM DMA uses reasonable efforts to obtain information from reliable sources, but all Publications are provided on an "as is" basis without representation or warranty of any kind (neither express nor implied) and SCM DMA disclaims liability for any Publication not being complete, accurate, suitable and relevant for the recipient. Specifically, SCM DMA disclaims liability towards any subscriber, client, partner, supplier, counterparty and other recipients for:

  • The accuracy of any market quotations.
  • Any delay, inaccuracy, error, interruption or omission in providing market quotations.
  • Any discontinuance of market quotations.


The Publications of SCM DMA are not updated after their release and may, due to changing circumstances, become inaccurate and possibly misleading after a period of time which may vary from seconds and minutes to days, weeks and months depending on the Information. SCM DMA gives no guarantee against, and assumes no liability towards any recipient for a Publication being outdated.

If a Publication becomes outdated SCM DMA shall be under no obligation to:

  • Update the Publication;
  • Inform the recipients of a Publication;
  • Or perform any other action.


Any Publication may be personal to the author and may not reflect the opinion of SCM DMA. SCM DMA reserves the right at its sole discretion to withdraw or amend any Publication or Information provided at any time without notice (prior or subsequent).

SCM DMA does not in any of its Publications consider any particular recipient’s investment objectives, special investment goals, financial situation, and specific needs and demands. Therefore, all Publications of SCM DMA are, unless otherwise specifically stated, intended for informational and/or marketing purposes only and should not be construed as:

  • Business, financial, investment, hedging, legal, regulatory, tax or accounting advice;
  • A recommendation or trading idea;
  • Or any other type of encouragement to act, invest or divest in a particular manner (collectively “Recommendations”).

SCM DMA shall not be responsible for any loss arising from any investment based on a perceived Recommendation.
Notwithstanding anything to the contrary (not even if specifically stated), no Publication (including possible Recommendations) shall be construed as a representation or warranty (neither express nor implied) that the recipient will profit from trading in accordance with a trading strategy set forth in a Publication or that the recipient will not sustain losses from trading in accordance with a trading strategy set forth in a Publication.
SCM DMA shall only be liable (in accordance with the “Limitation of Liability” section below) if a possible Recommendation is not of a good professional standard.

Trading in the products and services of SCM DMA may, even if made in accordance with a Recommendation, result in losses as well as profits. In particular trading in leveraged products, such as but not limited to, foreign exchange, derivatives and commodities can be very speculative and losses and profits may fluctuate both violently and rapidly.

Any mention in a Publication (if any) of the risks pertaining to a particular product or service may not and should neither be construed as a comprehensive disclosure, nor full description of all risks pertaining to such a product or service.
SCM DMA strongly encourages any recipient considering trading in its products and services to employ and continuously consult suitable financial advisors prior to the conclusion of any investment or transaction.

SCM DMA’s Publications may be accessed worldwide. The Information provided in such Publications is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the products and services referred to in the Publications of SCM DMA are available to recipients residing in countries where the provision of such products and services would constitute a violation of mandatory applicable legislation or regulations.
It is the sole responsibility of any recipient employing or requesting a product or service of SCM DMA to comply with all applicable legislation or regulation.

Any use of SCM DMA’s website is subject to SCM DMA’s “Terms of Use”, as amended from time to time (available on this page under Terms of Use), and the “Copyright” provisions, as amended from time to time (available on this page under Copyright) both of which shall be construed as constituting an integrated part of this Disclaimer.
SCM DMA shall not be liable for any damage or injury arising out of any person’s or entity’s access to, or inability to access, the website of SCM DMA.
This limitation includes, but is not limited to, any damage to computer equipment and computer systems caused by virus, malware and any other harmful computer coding.
Consulting the website of SCM DMA does not constitute a customer relationship and SCM DMA shall not have any duty or incur any liability or responsibility towards any person or entity as a result of such person or entity consulting the website of SCM DMA.

Persons or entities not belonging to SCM DMA may advertise on the SCM DMA website, through links, banners or otherwise. SCM DMA shall not be held responsible or liable for the offerings, information or acts of any such third party. If a user of SCM DMA’s website decides to act upon any such advertising, such user does so entirely at their own risk.

If SCM DMA at any time and for any reason, should become liable for the loss of any person and/or entity, including without limitation, if any provision of this disclaimer is, or at any time becomes to any extent or in any circumstances invalid, illegal or unenforceable for any reason, the liability of SCM DMA shall be limited to such person’s and/or entity’s duly documented direct loss, which for the avoidance of doubt, and without limitation, shall not include damages for any incidental and consequential losses, damages for lost opportunity, damages for lost profit, statutory damages, nominal damages, punitive damages, restitutionary or disgorgement damages, damages for costs, including legal costs, and damages for any other indirect loss.

SCM DMA may act as market maker in all products and services not traded on an exchange (i.e. OTC products such as foreign exchange and CFDs) and may therefore be the counterparty in any trade conducted by customers in these products.

Your privacy is very important to SCM DMA (Pty) Ltd (“DMA”) and DMA will use reasonable efforts in order to ensure that any information, including personal information, provided by you or which is collected from you or third parties, is stored in a secure manner.
By providing your information to DMA you agree to give honest, accurate and current information about yourself to DMA and to maintain and update such information when necessary.
Your personal information provided to or collected by DMA, whether in the course of downloading an application or opening an account, may be used by it (including partner companies, consultants and contractors, subsidiaries and parent companies; altogether referred to as “Partners”), for the following reasons:

  • To comply with statutory and regulatory requirements in respect of the storage and maintenance of documents and information;
  • To comply with valid requests for information, including subject access requests and request in terms of the Promotion of Access to Information Act 2 of 2000 (as may be amended);
  • To comply with information requests by regulators or bodies lawfully requesting the information;
  • For assessing client complaints;
  • For internal purposes such as training and monitoring;
  • To assist in law enforcement and anti-money laundering and counter-terrorist financing initiatives;
  • To provide you with marketing material and other information on DMA and it’s Partner’s.

You acknowledge that any information supplied to DMA in terms of these Terms and Conditions is provided voluntarily. By submitting any information to DMA in any form you further acknowledge that such conduct constitutes an unconditional, specific and voluntary consent to the processing (including storage) of such information by DMA in terms of these Terms and Conditions and/or under any applicable law in the manner contemplated above, which consent shall, in the absence of any written objection received from you, be indefinite and/or for the period otherwise required in terms of any applicable law.
Unless you have consented, DMA will not sell, exchange, transfer, rent or otherwise make available any personal information about you (such as name, address, email address or telephone number) to other parties other than provided herein and you indemnify DMA from any unintentional disclosures of such information to unauthorised persons.
DMA and your information is governed by South African law. Should you believe that DMA has utilised personal information contrary to applicable law, you undertake to first attempt to resolve any concerns with DMA. If you are not satisfied with such process, you then have the right to lodge a complaint with the Information Regulator once the Protection of Personal Information Act 4 of 2013 (as may be amended) is in force.
DMA (Co Reg: 2009/003513/07; FSP No. 40983), 48 Seventh Ave, Parktown North, Johannesburg, compliance@dma.co.za

SCM DMA is an authorised financial services provider and is regulated by the South African Financial Sector Conduct Authority, with FSP number 40983.

This disclaimer and any dispute arising from or in relation thereto, including disputes regarding its legality, validity, binding effect (including adoption) and enforceability, shall be settled by the South Gauteng Division of the High Court of South Africa in accordance with and subject exclusively to the laws of South Africa. However, SCM DMA reserves the right to start legal proceedings wherever it deems fit, namely, but not exclusively, in places where the defendant possesses assets.

SCM DMA (“Saxo SA”) is an Authorised Financial Services Provider in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 and is regulated by the Financial Sector Conduct Authority under Reg. No. 40983. If there is any advice in this email, it is general advice only and has been prepared by Saxo SA or one of its related entities.
The contents of this email and any attachments are confidential, may be privileged and is intended solely for the use of the individual or entity to whom it is addressed and others authorised to receive it.
If you have received it in error, do not disclose, distribute, retain it or any part of it, or take any action in reliance of the contents. You are further requested to notify the sender immediately and delete the email.
Views and opinions are those of the sender and may not necessarily be interpreted as reflect the views or opinions of Saxo SA.
Saxo SA has made every reasonable effort to ensure the information provided is correct, however, Saxo SA neither represents nor warrants as to the accuracy or completeness of the information.
Email transmission security and an “error-free” status cannot be guaranteed as information could be intercepted, corrupted, destroyed, delayed, incomplete or contain viruses. Saxo SA therefore does not accept liability for any loss or damage resulting from the opening of this message and/or attachments and/or the use of the information contained in this message and/or attachments.
Saxo SA, its affiliates or its employees may also have interests in the financial products referred to in this information by acting in various roles. They may buy or sell the financial products as principal or agent and as such may effect transactions which are not consistent with any recommendations (if any provided in this information). Saxo SA or its affiliates may also receive fees or brokerage for acting in the aforementioned capacities.
Trading in the products and services offered by Saxo SA may, even if made in accordance with a recommendation, result in losses or profits. In particular, trading in leveraged products such as, but not limited to, foreign exchange, derivatives and commodities can be extremely speculative, and losses and profits may fluctuate violently and rapidly.
Any mentioning in a publication of the risks pertaining to a particular product or service may not and should neither be construed as a comprehensive disclosure nor a full description of all risks pertaining to such product or service. Saxo SA strongly advises any recipient considering trading in its products and services to employ and continuously consult suitable financial advisors prior to the conclusion of any investment or transaction.
No person shall have any claim of any nature whatsoever arising out of or in connection with the contents of the email against Saxo SA or any of its affiliates and/or employees.
Electronic communications carried within the SCM DMA system may be monitored.

FATCA Information

The following is a live IRS webpage. If you would like to explore this page in a new window you can click the following link: http://www.irs.gov/irb/2011-19_IRB/ar09.html#d0e2830

Protection of client funds

Client funds received by SCM DMA (including cash balances, unrealised profits and funds used as margin collateral) are held and protected in accordance with the Financial Institutions (Protection of Funds) Act, No 28 of 2001 and are held in a secured segregated bank account and cannot be used by SCM DMA in the course of its day to day business operations. SCM DMA undertakes initial and periodic assessments in the course of its selection and appointment of credit institutions holding client funds.

Firms such as SCM DMA (“SCM DMA”) that are authorised and regulated by the FSB have to adhere to the key principle that requires firms to pay due regard to the interests of its customers and treat them fairly. Treating customers fairly (TCF) is central to the delivery of the FSB’s regulatory agenda, which aims to ensure an efficient and effective market and thereby helping customers achieve a fair deal. The specific aims of the TCF initiative are twofold:

  • Make it easier for clients to understand the features, benefits, risks and costs of the products which SCM DMA offer; and
  • Reduce the offering of unsuitable products by adhering to best industry practice before, during and after the point of sale.

Fair treatment of customers is central to the behaviour and values of the Senior Management and we communicate messages about the fair treatment of customers effectively, by ensuring that there are appropriate, effective systems and controls that are monitored and assessed to ensure that the fair treatment of customers is delivered.

Strategy
SCM DMA has a clear vision and risk appetite which supports the fair treatment of customers. This is reflected within the formulation and implementation of our strategic decision-making process.

Decisions
Decision-making at all levels reflects the fair treatment of customers. SCM DMA uses staff, customer and other external feedback where appropriate, with timely action. The interests of customers are properly balanced against those of our shareholders.

Controls
SCM DMA controls the management of information, which aims to ensure and demonstrate the fair treatment of customers. These controls are integral to the risk assessment framework.

Training
The Senior Management of SCM DMA ensures that positive behaviours and attitudes that encourage the fair treatment of customers is a key criterion in the selection of staff. Managers use TCF performance indicators in the development of its employees by identifying and acting on poor performance and rewarding good performance.

Rewards
SCM DMA’s reward framework throughout the business is transparent and supports the fair treatment of customers. The FSB expects SCM DMA to be able to demonstrate that we are consistently delivering fair outcomes to its customers and the FSB will measure our performance against the following TCF Fairness Outcomes:

TCF Outcomes

  • Customers can be confident that they are dealing with firms where fair treatment of customers is central to the corporate culture.
  • Customers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
  • Where customers receive advice, the advice is suitable and takes account of their circumstances.
  • Customers are provided with products that perform as firms have led them to expect and the associated service is of an acceptable standard and as they have been led to expect.
  • Customers do not face unreasonable post-sale barriers imposed by firms to change products, switch providers, submit a claim or make a complaint.


If you would like further information please email us at info@dma.co.za or visit the FSB website

Risk Warning

Speculative Trading is Not Suitable for All Investors

Any mention in a Publication (if any) of the risks pertaining to a particular product or service may not and should neither be construed as a comprehensive disclosure, nor full description of all risks pertaining to such a product or service.

SCM DMA strongly encourages any recipient considering trading in its products and services to employ and continuously consult suitable financial advisors prior to the conclusion of any investment or transaction.

No Recommendations

SCM DMA does not in any of its Publications consider any particular recipient’s investment objectives, special investment goals, financial situation, and specific needs and demands. Therefore, all Publications of SCM DMA are, unless otherwise specifically stated, intended for informational and/or marketing purposes only and should not be construed as:

  • Business, financial, investment, hedging, legal, regulatory, tax or accounting advice;
  • A recommendation or trading idea;
  • Or any other type of encouragement to act, invest or divest in a particular manner

(collectively “Recommendations”).
SCM DMA shall not be responsible for any loss arising from any investment based on a perceived Recommendation.

No Representation, No Warranty

SCM DMA uses reasonable efforts to obtain information from reliable sources, but all Publications are provided on an "as is" basis without representation or warranty of any kind (neither express nor implied) and SCM DMA disclaims liability for any Publication not being complete, accurate, suitable and relevant for the recipient. Specifically, SCM DMA disclaims liability towards any subscriber, client, partner, supplier, counterparty and other recipients for:

  • The accuracy of any market quotations
  • Any delay, inaccuracy, error, interruption or omission in providing market quotations.
  • Any discontinuance of market quotations.

The Publications of SCM DMA are not updated after their release and may, due to changing circumstances, become inaccurate and possibly misleading after a period of time which may vary from seconds and minutes to days, weeks and months depending on the Information. SCM DMA gives no guarantee against and assumes no liability towards any recipient for a Publication being outdated.

If a Publication becomes outdated SCM DMA shall be under no obligation to:

  • Update the Publication;
  • Inform the recipients of a Publication;
  • Or perform any other action.

Any Publication may be personal to the author and may not reflect the opinion of SCM DMA. SCM DMA reserves the right at its sole discretion to withdraw or amend any Publication or Information provided at any time without notice (prior or subsequent).

Internet Trading Risks

There are risks associated with utilising an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Since SCM DMA does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet.

SCM DMA employs backup systems and contingency plans to minimise the possibility of system failure, and trading via telephone is available.
Use of the Website
Any use of SCM DMA’s website is subject to SCM DMA’s “Terms of Use”, as amended from time to time (available on this page under Terms of Use), and the “Copyright” provisions, as amended from time to time (available on this page under Copyright) both of which shall be construed as constituting an integrated part of this Disclaimer.
SCM DMA shall not be liable for any damage or injury arising out of any person’s or entity’s access to, or inability to access, the website of SCM DMA.
This limitation includes, but is not limited to, any damage to computer equipment and computer systems caused by virus, malware and any other harmful computer coding.
Consulting the website of SCM DMA does not constitute a customer relationship and SCM DMA shall not have any duty or incur any liability or responsibility towards any person or entity as a result of such person or entity consulting the website of SCM DMA.

Product Risk Categorisation

According to the Executive Order on Risk Categorisation of Investment Products, Financial undertakings in Denmark are required to categorise investment products, offered to retail clients, in the green, yellow or red category.
The categorisation is made according to a graduation made by the Danish Financial Supervisory Authority which reflects the risk of losing the deposit.
Please download the below PDF form and familiarise yourself with the full Risk Categorisation of products available for trade in Saxo Bank Group via the trading platform or by telephone.

Terms of use

These Terms of Use (the "Agreement") are applicable to the: (i) web pages, (ii) services, (iii) content, (iv) databases and (v) information (collectively referred to as the "Services") together with the agreements and software provided by Saxo Bank A/S ("Saxo Bank") to which you may have access by using SCM DMA (“SCM DMA”) website. The content and information included in these Services are provided by SCM DMA and its third party suppliers (collectively, the "Information Providers"). These Services are made available by SCM DMA subject to the terms and conditions stated below.

By using the Services, you are confirming your consent to be bound by the terms of this Agreement. If you do not agree, SCM DMA is not willing to provide you with access to the Services and you should immediately discontinue your use of the Services. You agree that SCM DMA may modify this Agreement at any time in its sole discretion and without prior notice to you. Such changes will be posted online and will be effective upon posting. You should review this Agreement periodically to ensure familiarity with its then-current terms and conditions. Your continued use of the Services shall constitute your acceptance of this Agreement and your continued use of the Services following any modification of this Agreement shall constitute your acceptance to the Agreement, as amended. If you do not agree to the changes, you must notify SCM DMA in writing or by telephone of your refusal and discontinue your use of the Services

These Services are intended for your personal, non-commercial use.
By using the above-mentioned Services and the software provided by SCM DMA, you acknowledge and agree that:

  1. It is prohibited to use, store, reproduce, display, modify, sell, publish, transmit and distribute, or commercially exploit the Services without prior written permission of SCM DMA and/or any third-party Information Provider(s);
  2. SCM DMA and/or any third-party Information Provider(s) reserve all rights to proprietary information (including, but not limited to, all intellectual property rights such as; patents, trade marks, service marks, copyrights, database rights, topography rights, industrial design, know-how, trade secrets, trade names, logos, designs, symbols, emblems, insignia, slogans, drawings, plans and other identifying materials, in all forms whether or not registered or capable of registration and any other rights relating to intellectual property in accordance with the applicable laws,) subsisting in or relating to the Services.
  3. You shall not use the Information for any unlawful or unauthorised purpose.
  4. The use and interpretation of the Services requires skill and judgment, and you shall at all time exercise your own judgment in the use of the Services.
  5. You are responsible for all statements made and acts or omissions that occur while your user identification name (or "User Name") and passwords are being used. You are responsible for protecting and securing your User Name and password from unauthorised use and disclosure. If you become aware of, or believe there has been, any breach of security for any of your information stored on the SCM DMA website, such as the theft or unauthorised use of your User Name, password, or any other information, you will notify SCM DMA immediately.
  6. The Services and the software have been prepared for informational purposes only without regard to any particular user's investment objectives, financial situation, or means, and SCM DMA is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. Certain transactions, including those involving complex financial instruments, give rise to substantial risk and are not suitable for all investors.
  7. The fact that SCM DMA has made the Services available to you constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described on the website is suitable or appropriate for you. Many of the products described in the Services involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you. Any discussion of the risks contained herein with respect to any product should not be considered to be a comprehensive disclosure of all risks or a complete discussion of the risks which are mentioned. You should not construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice.

SCM DMA may exercise full discretion in modifying or discontinuing any part or whole of the Services specified under points (i) to (v) subject to this Agreement at any time without cause or prior notice.

SCM DMA and the Information Provider(s) expressly disclaim all warranties of any kind, express or implied, including without limitation any warranty of merchantability, fitness for a particular purpose or non-infringement. Although the Services provided have been obtained from sources deemed to be reliable, the Services are provided “AS-IS”, and SCM DMA and/or any third-party Information Provider(s) provide the Services without responsibility for accuracy and correctness. By using the Services you agree that errors and/or omissions contained in such information shall not be made the basis for any claim, demand or cause of action against SCM DMA or any Information Provider(s).

Neither SCM DMA nor any of its third-party Information Providers shall be liable for any direct, indirect, incidental, special or consequential damages arising out of or relating to this Agreement or resulting from the use or the inability to use the Services, including but not limited to damages for loss of profits, use, data or other intangible damages, even if such party has been advised of the possibility of such damages.

By agreeing to the Terms of Use of the Services and the software you acknowledge and agree that SCM DMA, in the interest of security, reserves the right to record all telephone conversations, internet conversations including chat, and any meetings between you and SCM DMA. You furthermore agree that SCM DMA reserves the right to monitor your use of the Services on the website and that the resultant information may be used by SCM DMA for its internal business purposes. Any claims arising from this Agreement will be governed by and construed in accordance with the laws of South Africa and shall be subject to the exclusive jurisdiction of the South African courts

Whistleblowing

DMA is committed to the highest standard of openness, integrity and accountability which is why we have established a whistleblowing policy for employees but also covering external persons (clients, partners and other stakeholders in DMA). If you experience any breaches per the policy you will be able to report your concerns in terms thereof to whistle@dma.co.za. All alerts will be treated carefully and with the utmost confidentiality. Ordinary complaints should be submitted via our complaints channels.

For out whistleblowing policy, please see here.

FAIS Disclosure Notice

In terms of the Financial Advisory and Intermediary Services (“FAIS”) Act No. 37 of 2002 you are entitled to the following information:
SCM DMA (Pty) Ltd (“DMA”)
48 7th Avenue, Parktown North
Johannesburg
2193

Tel: +27 (10) 201 6300
www.DMA.co.za
Email: info@DMA.co.za
Registration Number: 2009/003513/07 VAT Reg: 4860257817
DMA is a licensed Financial Services Provider in terms of FAIS, license number 40983 as well as an authorised user of an exchange. Copies of our licenses are available upon request.

To download the latest Fais Disclosure, please click here.