FCA | FinTelegram News

Category: FCA

March 2, 2021

Investor Warning – Don’t fall for crypto scam FXoptionTrade

The UK FCA has issued an investor warning against the broker scam FXoptionTrade. This scam acts as a clone of the FCA-registered Tickmill UK Ltd (www.tickmill.co.uk). Allegedly, the trading is done via a trading bot achieving up to 15% ROI within just seven days in different investment plans. Bullshit it is! The only way to deposit is Bitcoins (BTC). The scam is sloppily made and a white-label solution from one of the many scam factories. In fact, you can find so many spelling mistakes and flaws that victims should not fall for it.

February 17, 2021

FCA warning against AND Corp and TradersPros broker scam

UK regulator FCA has issued an investor warning against the broker scam TradersPros (www.traderspros.com). AND Corp Limited in Hong Kong allegedly operates the scam. Potential victims can make deposits via Bitcoin or with credit and debit cards. On the website, TradersPros claims that they are regulated by the Global Financial Authority, a kind of private "conduct regulator." The deposits are made via payment gateways under the domains www.btcnchain.com for BTC and www.gcg.technology for credit cards.

February 15, 2021

German-Ukrainian Capital Letter Scam Group and its payment facilitators

Against the German Capital Letter GmbH and its network of offshore entities and scams such as BrightFinance, SolidInvest, GFXRoyal, STSRoyal, STSCrypto, or GFXFinance, various European regulators such as the UK FCA (here), BaFin (here), or the FMA (here) have already warned and issued Cease and Desist Orders over the last months. The Italian Consob has ordered a blackout of the sites (here). However, the scammers are unimpressed. Some scams are still active. Now the UK Financial Conduct Authority (FCA) issued a new warning.

February 8, 2021

UK Watchdog FCA warns against PrimeCap, FitRex, CFDS Market, and iForexGain

The UK Financial Conduct Authority (FCA) has today issued investor warnings against several FX & Crypto Scams. Again, the usual suspects are legal entities in the Marshall Islands and St. Vincent & the Grenadines. In a first quick review of the alleged scams, we found NeoBanq, and Texcent as facilitating payment processors.

February 1, 2021

FCA warns against social trading scams Copy Trade Capital and Premium Capital Trade

The pump-and-dump schemes around the Reddit forum WallStreetBets made social trading attractive. It was perfectly foreseeable that scammers were pouncing on this social media powered trading approach. Reports that the already more than 7.8 million members have beaten the Wall Street pros and created billions in market valuation virtually out of thin air is tantalizing. Today, the FCA warned against the Copy Trade Capital and Premium Trade Capital broker scams, which attack consumers mainly in the UK.

January 31, 2021

FCA warning against scam broker BimFX24 with payment processor BridgerPay

A few days ago, the UK watchdog FCA issued an investor warning against the broker scam BimFX24. This is allegedly operated by a BIM LLC registered in St. Vincent & the Grenadines. Allegedly registered at the notorious Company Builders Wilfred Services address, the facilitating payment processor is once again the Cypriot BridgerPay of Ran Cohen who repeatedly asserted that BridgerPay would not accept scams. And time and again, BridgerPay is exposed as a scam facilitator.

December 22, 2020

UK FCA warns against broker scam Plutus with Estonian BitTheBank payment processor

FCA has issued an investor warning against the broker scam Plutus a/k/a Plutus Pro (www.plutus.pro) on December 21, 2020. An ITM Solutions LLC allegedly operates this from St. Vincent and the Grenadines. As a payment processor, we have discovered the Estonian BitTheBank (www.bitthebank.com) operated by Lipan Services OÜ. Plutus promotes its services on Instagram using the argument of 'financial freedom' via FX Trading and was active until a few minutes ago despite FCA's warning.

December 15, 2020

UK Watchdog issues warning against Ukraine Broker Scam WFT Group with iPayTotal and BridgerPay

FCA has issued an investor warning against the Forex broker scam WFT Group a/k/a WFT World operating under the domains www.wft.world and www.wft.group. As the operator and illegal payment processor, we found IT Consult Pro Ltd operating through an account at TransferWise Europe with IBAN LT633270001000069681. On the website, Invest Group LLC in St. Vincent and the Grenadines is given as the operator.

December 15, 2020

FCA warning against PolarisTradePay crypto scam

PolarisTradePay is an unregistered brokerage platform in the field of energy, agriculture, stocks, and crypto-currencies. The UK FCA issued an investor warning against the broker and calls it a scam. The platform is allegedly operated by Polaristrade.com Ltd, which does not exist. There is a link on the website to the Scottish Polaris Diagnostics & Engineering Ltd, which has nothing to do with the scam. Deposits are only made in cryptocurrencies.

December 14, 2020

FCA warning against PolarisTradePay crypto scam

December 10, 2020

FCA warning against Bitcoin Revolution acting as Introducing Broker for CySEC regulated CIFs and Scam Brokers

UK regulator FCA issued a warning against Bitcoin Revolution (www.bitcoinrevolution.org) on December 9, 2020. This website is allegedly operated by Profitoro Ltd and apparently acts as an Introducing Broker (IB) for a number of regulated and unregulated brokers. In our reviews, we were redirected to ForexTB, Horizon Invest, and Trade360 upon registration with Bitcoin Revolution. The registration process with the respective brokers is automatically handled by Bitcoin Revolution.

December 2, 2020

FCA warns against TopNotchTradeFX and ExplicittradeFX scams cloning regulated entity

In July 2019, Finance Magnates has reported that the UK Financial Conduct Authority (FCA) issued a warning against a clone firm of FCA-regulated Tradeslide Trading..