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The FCA alerts investors of Serex Investments and Quantum Forex Trade clone firms

 

UK's Financial Conduct Authority (FCA) has recently warned against two clones of properly regulated firms: Serex Investments and Quantum Forex Trade. These entities are wrongfully using the details of regulated companies (with which they are not associated) in an attempt to mislead UK investors that they are legitimate financial services providers.

 

Fraudsters usually use this scam tactic when contacting people out of the blue, so you should be especially wary if you have been cold called”, the FCA also notes.

 

Serex Investments claims to be owned and operated by SRX INVESTMENTS LIMITED, a French company that is EEA authorized, but has nothing to do with this broker. On top of that, Serex Investments does a very poor job at presenting its trading offer and also mentions the name of another FCA-licensed broker, with which it is not associated in any way - SVSFX.

 

As regards Quantum Forex Trade, the website of this fraudster illegally uses the 'firm reference number' (FRN) of UK forex brokerage Fortrade. It presents itself as a securities and commodities trading firm, specializing in online Foreign Exchange, but fails to provide any trading specifics, such as spreads, leverage levels, which is also very typical of scam brokers.

 

We always advise our readers to check whether a company is properly regulated by a reputable supervisor like the FCA or the Australian Securities and Investment Commission (ASIC) before investing. Also, it is a good idea to do a due diligence check before you deposit and google the broker name to see whether there have been warnings against it or if it has been in some sort of trouble with regulators.

 

TAGS: FCA  Serex Investments  Quantum Forex Trade  warning  clone firm  scam  UK 
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