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UK's FCA warns of Cryptonix Team / VIP Crypto

 

The UK’s Financial Conduct Authority (FCA) added Cryptonix Team and VIP Crypto to its alert list on Friday. The UK financial watchdog warned investors to be especially wary of dealing with these unregulated brokerage brands, which are operated by an unauthorised firm.

 

According to the FCA, this company is falsely claiming to be partnered with, and is using the details of a firm that is really licensed by it - Mirabaud Securities Limited (FRN 762066).

 

Both websites offer trading in cryptocurrency CFDs and claim to be based in London. Cryptonix (cryptonixteam.com) attempts to pass as a crypto-currency exchange, and does not state which is the company behind it, nor mentions anything about regulation on its website. VIP-Crypto is a trademark allegedly owned and operated by FX Wilkinson Europe LTD., but its entire website (vip-crypto.com) is a mess.

 

As you can see from the numerous negative comments on our reviews of both Cryptonix Team and VIP Crypto, a lot of people have been swindled of their money, so make sure you are not the next one.

 

Always check the company names of forex brokers in the Financial Services Register, kept by the FCA, and it is also a good idea to google a broker’s name before investing with it.

 

The UK financial regulator is famous for its tight supervision. Apart from issuing warnings against entities that could possibly harm UK investors and keeping a register of licensed companies, the FCA applies strict requirements to authorized brokers and sees to their compliance. Those who fail to comply with the applicable standards and rules, are charged with salty fines.

 

TAGS: FCA  warning  Cryptonix Team  VIP Crypto  UK  scam 

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