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UK’s FCA warns of forex broker BECFD

 

UK’s Financial Conduct Authority (FCA) has published a warning against forex brokerage BECFD. According to FCA, the broker, operating via the website becfd.com, has been targeting UK without their authorization.

 

"This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation," the FCA said.

 

Judging by the reviews on our website, as well as other forex sites and forums, BECFD is a very dubious broker. It is owned and operated by BECFD Limited, a company registered on the Marshall Islands. We keep warning our readers not to invest with offshore brokers, as they are not licensed, nor supervised by any authority, and many of them are pure scams.

 

It seems that BECFD is one of those, as its clients complain they have been persuaded to deposit more and more, but withdrawals are rejected and in the end, they lost all their investments.

 

The FCA is renowned for its strict standards and tight supervision. The agency also keeps a register of authorized forex and binary options brokers where investors can look up a broker prior to engaging with it. It also issues warnings against entities that could possibly harm investors. Earlier this month it issued another warning against binary options broker Plusoption.

 

TAGS: FCA  warning  BECFD 
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