As with every month, we have an FCA warnings list for this January. The UK regulator pays great attention to scam brokers and warns citizens to avoid them. Let’s see which entities found their place on the blacklist and why.
AtlantisGlobalTrade earned its place on the FCA warnings list by being a clone of a UK-regulated company. Namely, the firm is abusing the details of Infinox Capital Limited, claiming the two are associated.
Inet Markets is an anonymous financial swindler that hasn’t given us the option to find HQ. We have no phone number either, and the legal jurisdiction is not specified. They’re luring customers through false promises, using MT4 to advertise their services.
Since the company found its place on the FCA warnings list, it’s a clear indicator that you should avoid it.
Allegedly based in the UK, AIFxHolding offers customers unsolicited financial services. The company doesn’t comply with the FCA regime, and neither do they follow MiFID directives. The leverage goes up to 1:1000, exposing clients’ funds to high risk.
While claiming to be registered in the US, this brokerage advertises as the best trading platform in the UK. Besides the fact that it makes no sense, let’s mention their regulatory status. No, WisecoinFX is not legit in the US, UK, or any other country worldwide.
The brokerage offers capital insurance, bonuses, and claims to have a fixed ROI. All hallmarks of trade fraud.
MavTopFXTrade is one interesting brokerage. Besides the standard FX and CFDs offer, this company claims to allow real estate investments. Of course, as you can guess, these are just bogus promises.
The minimum investment amount is $500, which is exceptionally high even for online fraud. Hence, they ended up on the FCA warnings list.
ForexNjr Ltd claims to be licensed by the Securities and Investment Commission in the UK. Since, obviously, the regulator in charge is FCA, this statement is false. Additionally, they say to have a license from the VFSC of Vanuatu, which is, again, untrue.
However, we do believe that this is yet another offshore fraud lurking for inexperienced investors.
The next one on the FCA warnings list is Legit Bitcoin FX, a scammer guaranteeing profit. Allegedly, if you start with at least $500, you can earn $60 or more. Besides flashy profit claims, the website has no substantial information regarding trading terms, owner or official address.
Des Trading is allegedly an educational website. The person in charge, calling himself Mr. Luke, educates his viewers and website visitors on how to profit from FX trading. The person behind the charade is sending trading signals to customers while claiming these are not intended to be used for real-time investing.
Since he specifically mentioned that he doesn’t need a license from the UK authorities, the FCA warning shows otherwise.
iX Forex broker says to be owned by iX Forex Ltd, registered in the UK and operating under SIC regulations. Since by now we know better, the FCA warning shows that the company has no authorization to offer financial services to UK residents.
It’s another HYIP scam, claiming to offer 30-57% of daily profit within 21-30 days.
Lately, Cryptoneyx broker is on the watch list of many authorities, including OSC and FCA warnings. The firm is allegedly based in the UK, while investors have been misled to believe it’s also regulated. Some may be attracted to what seems to be a large offer of educational materials, but don’t be deceived. You can only lose.
As you can tell, FXGlobeChina is an offshore financial scam. The company claims to offer leveraged FX and CFD trading but has no valid license.
While the minimum deposit is quite low, $100, and there are a large number of educational resources, you should know better. Offshore fraud can never be safe.
Let’s first say that Pips Indexfx has one of the worst websites we’ve seen. Additionally, it has all the signs of a financial scam.
The company charges BTC deposits, with the minimum being 0.015 BTC. They promise interest of 1-5% on the investment, plus FX trading services. What do they actually deliver? Nothing.
MaxGrowth FX advertises as a synonym for success. They offer 3 investment plans, ranging from $100-5,000 deposit. The expected ROI is 10-25%, respectively.
Due to their UK address, the company needs to be authorized by the local authorities. Their presence on this FCA warnings list shows otherwise.
Keller Finance got to the FCA warnings list due to the fact that the company is a clone. It uses an FCA-authorized firm, Finance and Currency Limited, and claims they’re the same brokerage. It results in a high number of defrauded customers in the UK.
Fintech Market presents itself as an Austrian-based crypto broker. The company claims you can buy, trade, and hold over 100 digital currencies.
Since it has no EU regulations, nor the FCA, it’s not authorized to provide any such services.
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