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UK’s FCA updates its warning list with A.B.Capitals and LincolnFX

Jan 16 2020
By
Jonathan Smith

 

Another bunch of brokers have made it to the warning list of UK’s Financial Conduct Authority since the beginning of 2020. We’ll focus on two of them - A.B.Capitals and LincolnFX – which, according to the British financial watchdog, have been providing financial services to UK investors without a proper license.

 

As a matter of fact, the FCA exposed LincolnFX as a clone firm of company duly regulated in the UK with the name Lincoln Finance Ltd. The official warning reads that fraudsters are using the details of FCA-licensed firms to try to convince investors that they work for a genuine, authorised firm. 

 

Furthermore, the websites of both A.B.Capitals (www.abcapitals.com) and LincolnFX (www.lincolnfx.capital ) don’t reveal much information on the entities behind their operation, There are no headquarters mentioned, nor real company names, only some contact numbers with the UK country code, which is irrelevant, as anyone can get a virtual phone number with any country code they wish.

 

The UK financial watchdog issues warnings against entities that could possibly harm investors on a regular basis. As of the beginning of the new year, the FCA has blacklisted CFsum and ProCapitalMarkets, Pro-Options, Inovestments, , FXonspot, YORK CG, , Fun Managers Trade Ltd, and more.

 

Besides, the FCA keeps a register of authorized financial services providers where traders can look up a broker prior to investing with it.

 

TAGS: FCA  warning  A.B.Capitals  LincolnFX  scam  clone firm  UK 
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