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Scam Alerts: UK FCA Warned Unlicensed FX Broker FXTM Investment Option

2022-09-27 Brokersview

As a scammer, FXTM Investment Option pretends to help investors to avoid scams. How ironic is it! Some confiding investors may believe the scammer because of the quibble on its website. However, no matter what the fraudster says, it cannot change the fact that FXTM Investment Option is a scam. And here we are going to show you the strong proof.

 

No Registration & Regulation

FXTM Investment Option firstly claims to be registered with Companies House of United Kingdom (CH) with registration number 13810415. The number belongs to another company named Shelley Building and Contracting Limited, according to the CH register. In another word, the scammer does not register in the UK.

The scam also claims to be regulated by several forex regulators, including:

1) the Gibraltar Financial Services Commission (GFSC);

2) the United Kingdom Financial Conduct Authority (UK FCA);

3) the Cyprus Securities and Exchange Commission (CySEC);

4) the Australian Securities & Investment Commission (ASIC).

First, we searched GFSC and found nothing that matched FXTM Investment Option. Besides, please remember that GFSC does not regulate forex brokers or help to settle disputes between investors and brokers.

At the same time, we did not find any results that matched this company in CySEC or ASIC. The entity is not regulated by the regulators.

What's more, UK FCA warned that FXTM Investment Option provides financial services without authorization. In this situation, your funds cannot be protected by any laws.


Indulge in Sophistry

"Avoid Scam" on the website of scam makes the fraud ironic.

The scammer claims that no matter how many efforts it made, there always will be people who think it is a scam. And it implies that those who accuse it of being a scam are the people who failed in investment. It also lists some other excuses to prove the website is not a scam. 

 However, the forex regulators have already given us the answer that FXTM Investment Option is a scam indeed. And that is why BrokersView always reminds investors to check the licenses of brokers, and not to be confused by the sophistry.


If you have any questions about a broker's license, you can ask a question on BrokersView Q&A.

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