The crypto community is being targeted with more and more investment scams with each passing day. Mostly these scammers operate on online trading platforms where fraudsters trade in forex, CFDs, and other crypto assets. A lot of these scam firms claim to operate from the United Kingdom and ensure their potential victims that they’re FCA authorized. Although if you look up these platforms in the FCA register most often, they’re not there.
Recently, FCA issued warnings against eight forex trading platforms for unauthorized regulated activities in the UK. The list goes as follows:
- DXB FX LTD
- FXCOIN FINANCE
- HOME CAPITAL TRADING FX
- ASTROFXC TRADES
Unauthorized firms like these that provide their services in the UK without FCA’s approval mean that if you ever deal with them, you will not be protected by Financial Services Competition Scheme, and you most likely won’t be refunded if you get scammed by these firms.
We advise you to exercise caution and check the broker’s activity before dealing with them yourself.