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UK’s FCA updates its warning list with Easy FX Trade and TradeBNP

Dec 05 2018
By
Jonathan Smith

 

The UK’s Financial Conduct Authority (FCA) added to more unregulated brokers to its warning list: Easy FX Trade and TradeBNP. According to the regulator, neither of them is authorized to provide financial services in the UK, but they are nonetheless targeting local investors.

 

More specifically, the FCA has exposed Easy FX Trade (Easy Trade Global) as a clone of major forex broker Hantec Markets, which is indeed licensed to operate in the UK. Our check on the www.easyfxtrade.com website revealed that the fraudster not only illegally uses the FCA registration number of Hantec Markets Ltd, but has cloned the website of the brokerage.

 

As regards the other unregulated broker, TradeBNP, it also falsely claims to be licensed by the FCA. Besides, its website feels like it was copied from another broker(s). Judging by the negative comments on our review of TradeBNP, it is a scam that targets mainly investors in Spain and Italy.

 

As always, we strongly advise our readers to do proper research on the company before opening an account, giving out any personal information and money, as well as to carefully check the registries of the relevant financial authorities.

 

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 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  Easy FX Trade  TradeBNP  scam  UK 
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