To make things straight from the very beginning, on our next screenshots you may check the recent warnings issued on December 19th against the following illegal brokers by the Financial Conduct Authority (FCA) in the UK. The FCA, one of the best financial regulatory bodies in the world, has found reasons to distrust these brokers and has issued warnings on them – something that can definitely damage the reputation of even the best of brokers. Take a look:
elagiabank
Website: www.pelagiabank.com
Source: https://www.fca.org.uk/news/warnings/pelagiabank
SaxoFXCompany
Website: www.saxofxcompany.online
Source: https://www.fca.org.uk/news/warnings/saxofxcompany
Piper Fx
Website: www.piperfx.com
Source: https://www.fca.org.uk/news/warnings/piper-fx
Powerbitfxsignal
Website: www.powerbitfxsignal.com
Source: https://www.fca.org.uk/news/warnings/powerbitfxsignal
PROPNEX LTD
Website: www.propnexltd.com
Source: https://www.fca.org.uk/news/warnings/propnex-ltd
TOUCH CASH FX
Website: https://touchcashfx.com
Source: https://www.fca.org.uk/news/warnings/touch-cash-fx
METAFX PAY TRADING
Website: https://metafxpaytrading.com
Source: https://www.fca.org.uk/news/warnings/metafx-pay-trading
According to the FCA, none of these brokers is authorized to offer financial services in the UK. In fact, the FCA has stated that these are not licensed brokers and therefore you would not be end to any protections. Such warnings prove with almost absolute certainty that a company is running some sort of scam – so refrain from choosing shady enterprises that have received the negative attention of reputable financial authorities like the FCA. The only way to be sure that your investment is in good hands and that you would be treated fairly and in accordance with all laws would be to turn to a licensed, legitimate broker.