Traders are being increasingly targeted by investment scams carried out via online trading platforms where fraudsters offer trades in forex, CFDs and cryptoassets. Some of these scam firms claim to be based in the UK and even claim to be FCA authorised. However, when you check the FCA register to see if they are authorised, you will often get negative results.
BrokersView learned that the FCA recently has issued warnings against 8 forex trading platforms for undertaking regulated activities in the UK without authorization. Here is the list:
1. CRYPTO BROKER
Address: 843 Finchley Road, London, UNITED KINGDOM, NW11 8NA
50 Nevett Street, Preston, England, UNITED KINGDOM, PR1 4RD
2. CRYPTO MAKER INVEST
Address: Northcliffe House 2, Derry Street, London, UNITED KINGDOM, W8 5TT
3. PRB CAPITALS LTD
Address: 71-75 Shelton Street, Covent Garden, London
OLD STREET, LONDON, ECIV9BD
Website: www.prbcapitals.com, www.prbcapitalltd.com
Website: www.cradlefx.com, www.varietyfx.net
Address: 20 Cooper Square, New York, UNITED STATES OF AMERICA, NY10003
Address: 1000 Main St, 12th floor, Houston, UNITED STATES OF AMERICA, TX77002
7. KURDISTANFOREX LTD
Address: 428 Edgeware Road, London, W2 1EG
8. METAGOLD CAPITAL
Telephone: 919545681201, 917972710430
These firms are providing financial services or products in the UK without the 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.
It’s a must to check a broker’s regulatory status before you start to deal with it.