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UK's FCA adds Stock Trade Invest to its warning list

 

UK’s Financial Conduct Authority (FCA) flagged another unregulated forex and CFD broker on Monday. The regulator warned the public that Stocktradeinvest Ltd., doing business as Stock Trade Invest has been providing financial services in the country without holding a FCA license. “This firm is not authorised by us and is targeting people in the UK,” the FCA said in its notice. 

 

The UK financial watchdog further warns investors that some of those companies who operate without a license “knowingly run investment scams”. This might as well be the case with Stock Trade Invest – a rather dubious forex and CFD broker that offers trading in a number of instruments on some simplified web-based platform.

 

The FCA strongly advises UK investors to only deal with companies that are licensed by them, and check the Financial Service Register to ensure they really are. Brokers licensed by the FCA have to meet a number of requirements and are subject to tight oversight, so their clients may rest assured that their money and interests are protected.

 

Even if a UK broker becomes insolvent, there is the Financial Services Compensation Scheme (FSCS). Under the umbrella of the FSCS, clients of regulated entities are entitled to receive up to £50,000 in compensation each.

 

TAGS: FCA  warning  UK  Stock Trade Invest 

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