Sponsored By
de | cn | ru

Market News

UK’s FCA warns against forex broker SolidCFD

 

UK’s Financial Conduct Authority (FCA) has issued a warning that the forex broker SolidCFD, which is not licensed to offer its services in the country, but has been targeting local investors.

 

It operates via the solidcfd.com website and provides an address in the UK, but the company is actually registered offshore, in Vanuatu.

 

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 said in its notice. “However, some firms act without our authorisation and some knowingly run investment scams.”

 

Judging by the numerous negative reviews on our website and other sites and forums, SolidCFD might be one of those scam companies. Trading at SolidCFD is provided via a modified version of the popular binary options trading platform SpotOption with leverage up to 1:300 and spreads fixed at 3 pips (pretty high cost of trading).

 

The FCA is famous for its strict regulation and tight supervision. Nearly all financial service providers are required to hold a license by the relevant authority. Besides, the UK financial watchdog keeps a register of authorized forex and binary options brokers 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  SolidCFD 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, Web $5 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Market News

UK’s FCA warns against fund recovery company MyChargeBack

Jun 20 2018 13:39:56

  The UK Financial Conduct Authority (FCA) warned MyChargeBack has been providing financial services in the country without being authorized by it. MyChargeBack is a fund recovery scheme, owned and operated by Cactil, LLC., a company headquartered in the USA. Read more

UK's FCA warns about Universe Markets FX

Jun 20 2018 09:42:22

UK's Financial Conduct Authority (FCA) has issued a warning against White Square Trading Limited operating as Universe Markets FX.   The regulator says the broker has been providing financial services and products targeting people in the UK without a license. Read more

Tether might have been used to manipulate Bitcoin price in late 2017

Jun 15 2018 13:39:11

Tether, a cryptocurrency token that is supposedly backed by the US dollar, has been spent on Bitcoins at key instances to support its price, reveals a paper published by a University of Texas professor, cited by Bloomberg. Read more

Crypto exchanges in Canada to report transactions over 10 000 CAD

Jun 14 2018 15:34:38

The Canadian government has released an official draft of new regulations on crypto exchanges aimed at strengthening Canada’s anti-money laundering regime. The full text of the proposed legislation is published in the Canada Gazette. Read more

South Korean crypto exchange Coinrail hacked, temporarily shuts down

Jun 11 2018 12:18:21

  South Korean Coinrail was hacked over the weekend and reportedly lost about 30% of the coins traded on the exchange, which caused a sharp drop in the prices of Bitcoin and other digital currencies. Read more

UK's FCA warns of Primus Forex Financial Group, clone of PCM UK

Jun 06 2018 14:05:58

 UK's Financial Conduct Authority (FCA) has issued a warning against Primus Forex Financial Group, a clone of the properly regulated forex brokerage Primus Capital Markets UK (PCM UK). Read more

ESMA caps leverage at 1:30 from August

Jun 01 2018 12:50:34

  The European Securities and Markets Authority (ESMA) has announced today that the new restrictions on the provision of contracts for differences (CFDs) to retail investors will take effect as of August, 1. Read more

Eo.Trade – another ICO aiming to bring crypto and traditional markets together?

May 31 2018 15:30:42

Eo.Trade is an ICO created by the people behind an already existing binary options broker – Expert Option. The full scope of the project is very broad, but each step is connected to a specific level of capital gained from the coin offering. Read more

Spain's CNMV warned against unregulated forex broker InvestMib

May 30 2018 14:20:16

  Spain's financial markets regulator, CNMV, has warned of forex broker InvestMib earlier this week. Read more

UK's FCA warns against unregulated forex brokers BrokerXP, ForexGrand and Golden Markets

May 28 2018 13:17:13

  The UK Financial Conduct Authority (FCA) warned against BrokerXP, ForexGrand and Golden Markets in a series of official notices on its website last week. Read more

de | cn | ru