Forex scammers lie about being regulated to gain traders' trust - this is a trick you may often see. So checking the regulators' registers becomes a crucial thing when you trade forex.
For protecting investors' funds, financial regulators like UK FCA keep their blacklists updated, which exposes the lies of scammers.
Recently, UK FCA issued warnings against 14 unlicensed forex brokers for undertaking regulated activities in the UK without authorization. Here is the list:
Address: 56 Hillfield Park Winchmore Hill, London, UNITED KINGDOM, N21 3QJ
12 Kings Weston Ln, Avonmouth, Bristol, UNITED KINGDOM, BS01 8ZA
Address: 27 Old Gloucester Street, London, UNITED KINGDOM, WC1N 3AX
3. Winnex Primemarkets Online (Winnex prime Markets) https://www.brokersview.com/brokers/winnex-prime-markets
Address: 87 - 135 Brompton, Eltham, London
Address: 375 Hudson Street, 16th Floor, New York, UNITED STATES OF AMERICA, NY 10014
Other Information: Potential names: ULTRA CRYPTOCOIN FX / ULTRA CRYPTOFX
5. Varliant FX
Address: UNITED STATES OF AMERICA
6. trust-financial-planning.com (Clone of FCA Authorised Firm)
Telephone: +442070971074, +79311060374, +442080979430, +442080970999, +447716540168
Website: www.trust-financial-planning.com, www.trustfinancial-planning.com, www.trust-financial-plannings.com, www.trust-financial-planing.com
Address: 44 West St, Boston, Lincolnshire, PE21 8QR
Address: First Floor, First St. Vincent Ltd Building, James Street, Kingstown, ST. VINCENT AND THE GRENADINES
Address: 46 George Street, London, UNITED KINGDOM
Address: 10 South Wacker Drive, Suite 2550, Chicago, UNITED STATES OF AMERICA, IL 60606
Address: 204 Glen View Lane, Radford, Virginia, UNITED STATES OF AMERICA
Address: 1 CANADA SQUARE, London, England, UNITED KINGDOM, E14 5AB
Leningradskiy prospect 39, Moscow, RUSSIA, 125167
Address: Coffeyville, Massachusetts, UNITED STATES OF AMERICA
Parkland, Louisville, UNITED STATES OF AMERICA, KY 40211
These firms are providing financial services or products in the UK without the UK FCA's authorisation. That means you will not be protected by the Financial Services Compensation Scheme (FSCS) and you are unlikely to get your money back if things go wrong.
Checking the license of the broker you are going to trade with is always the first thing you need to do when investing. If you have question about the regulation of a broker, you can ask a question on BrokersView Q&A.