Capital Markets Banc Exposed by FCA for Unauthorized Client Solicitation
The forex and binary options broker is in hot water with the British regulator for offering financial services with no
Finance Magnates Staff
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Regulation
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Binary Options )
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2017-06-21T16:17:25+00:00
2017-06-21T17:08:20+00:00
The Financial Conduct Authority (FCA), the UK financial regulator, has issued a warning about Capital Markets Banc, an online entity claiming to provide binary options and forex trading.
The website of the entity purports that the headquarters of Capital Markets Banc are in the United Kingdom. The firm has been operating in the country without the mandatory license by the regulator.
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Information on the website shows that the companies behind the operation are Joshua Consulting LTD and Joshua Development Limited. A registration number with an address pointing to the island of Dominica is also listed.
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Capital Markets Banc is being accused of illicitly targeting clients in the UK, thus violating the law. The FCA doesn’t provide any information about the conduct of the brokerage.
The regulatory authority advises UK residents to only do business with online trading companies that have been authorized and licensed by the FCA. The warning outlines that all financial services providers must be licensed by the watchdog, without exception.
The UK watchdog continues to expose unauthorized brokers targeting clients in the UK.
Yesterday the FCA issued a warning regarding a clone website which is purporting to be Blackrock Asset Management UK Limited. The copycat has changed few details, identifying itself by a near identical brand name, url, and office address.
Last week, the FCA published other such announcements, warning against MRTmarkets and StoxMarkets for approaching traders residing in the UK without being authorized to do so.
The CMB company is a big scam, if not they should prove the contrary. I lodged in funds with this company on the 19th Dec. 2017 and was confirmed as a member with a password on the 20th Dec. 2017: for a start and as adviced, $250 dollars after the account was opened. Every attempt to communicate with them has failed. I was asked to address queries to support@capmb.com and one of theirs will get to back me. These are more than four attempts to reach them through the link and all attempt has failed. They have just sat on… Read more »
same with me. I joined last year, they made a 100 USD profit with my min deposit but nothing since… tickets have not been answered and I since found a compnay dealing with geting back money from frauds like this.
hope to get my money back.
WARNING for this scam company. Broker Alex Nolan.