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UK's FCA warns against Trade Capital and Meta Investing

Nov 02 2018
By
Jonathan Smith

 

The Financial Conduct Authority (FCA) has blacklisted unregulated brokers Trade Capital and Meta Investing earlier this week. The FCA stated that these companies are not authorized to offer its services in the country, but are illegally targeting UK investors.

 

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us”, the UK financial watchdog reiterates in its warnings. “However, some firms act without our authorisation and some knowingly run investment scams.”

 

Meta Investing is a forex and binary options broker registered offshore that uses a web-based trading interface we have dubbed “Scamex”, because it seems that only scam brokers use it. Judging by the plethora of negative user comments on our website, Meta Investing is really one of the many companies in the sector that run investment scams.

 

Trade Capital is a forex and CFD broker whose offer is extremely unclear, and so is its corporate situation and background. Its website mentions several companies: GREENTIME SYSTEMS LTD., based in Budapest, Hungary, Trade Capital Investments LTD, headquartered in Genève, Switzerland, and Lozareo Group LP, which is registered in the UK. Yet, whichever the company behind the brand, it is not licensed by the FCA, nor by any other financial authority.

 

The FCA is famous for its strict regulation and tight supervision. Forex brokers licensed by it have to meet a strict set of requirements on capital adequacy, transaction reporting, client account segregation, negative balance protection and more. Besides, the UK financial watchdog keeps a register of authorized financial services providers where traders can look up a broker prior to investing with it. It also issues warnings against entities that could possibly harm investors on a regular basis.

TAGS: FCA  warning  Trade Capital  Meta Investing  scam  regulation  UK 

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