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FCA Warns an Unauthorized Broker Named 'Sapphire Markets'

2023-12-08 Brokersview

FCA Warns an Unauthorized Broker Named 'Sapphire Markets'

On December 7, the UK's Financial Conduct Authority (FCA) regulator warned against an unauthorized broker called Sapphire Markets, reminding the public to be aware of financial safety.


FCA warning.


Sapphire Markets operats a website to promote financial services, including currency trading services. According to the website, it purportedly offers various financial instruments such as foreign exchange, indices, metals, oil, and cryptocurrencies. This company also claims to offer investors fixed spreads and competitive commission rates.


From the bottom of its homepage, we find that this broker claims to be a company registered in St. Kitts and Nevis, an island nation located in the Caribbean. Besides, this company provides visitors with three contact numbers attributed to the United States, the United Kingdom, and Australia.


Contact provided by Sapphire Markets


Other than that, we could not find any valid regulatory information.


Please note that business registration is not the same as financial authorization. Not all registered businesses are qualified to offer financial products and services. Only entities and individuals authorized by financial regulators can legally offer financial services, with the types of offerings limited by strict regulations.