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UK's FCA warns against unregulated broker Littinvest

 

The UK Financial Conduct Authority (FCA) warned against forex and binary broker Littinvest. According to the regulator, it has been providing financial services in the country without being authorized.

 

Furtermore, the FCA noted that some companies who provide financial services in the UK without their authorisation knowingly run investment scams. We believe this is the case with Littinvest, considering the number of negative comments on the broker review published on our website.

 

Littinvest provides trading in forex, various CFDs and binary options, but its trading onditions are not clearly presented. It offers its services via a web-based platform which we have seen by other brokers, all of which appear quite shady.

 

Littinvest is allegedly operated by Explatinum Ltd., and according to its website, the conmpany is based in Bulgaria, although the telephone number provided is in the UK. Previously it claimed to be registered in St Andrews (close to the golf course).

 

The FCA regularly issues warnings against companies that illegally target UK residents and could possibly harm them. The UK financial watchdog is famous for its strict regulation and tight supervision. It also keeps a register of licensed forex brokers, so traders can check whether a broker is licensed or not prior to opening an account.

 

TAGS: FCA  warning  UK  Littinvest  scam 
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