FCA Warns Against Bitcoin Evolution, Ignis Markets Clone
- The list includes both traditional finance and crypto platforms.
The Financial Conduct Authority (FCA) on Monday added nine companies providing crypto and financial services to its warning list.
The companies include Olympus Global, STS Royals, Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Evolution, Walker Bryan, Credit Union Fund, My Safe Market, Carter FS, and Standard Bit Options.
The market regulator also warned against a clone of Ignis Markets, an FCA-regulated platform.
"We believe this firm has been providing financial services or products in the UK without our authorization," the UK regulator stated in the warning.
The FCA is vigilant about financial service providers offering services to Brits. Many are also scammers trying to dupe clients, luring them with promises of high returns.
Notably, the warning list also includes a few platforms offering crypto-based investment services, while one platform providing options trading services is offering Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term up to 200x.
"Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by us," FCA added. "However, some firms act without our authorization and some knowingly run investment scams."
Finance Magnates reached out to most of the companies for their take on the warning, however, did not receive any response as of press time.
Imposters
Warning against the clone of Ignis Markets, FCA stated: "Fraudsters are using the details of firms we authorize to try to convince people that they work for a genuine, authorized firm."
"This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorized firm or other details."
Earlier, the FCA also issued a warning against BitMEX, a popular crypto derivatives platform, for offering un-authorized services in the UK.
The Financial Conduct Authority (FCA) on Monday added nine companies providing crypto and financial services to its warning list.
The companies include Olympus Global, STS Royals, Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Evolution, Walker Bryan, Credit Union Fund, My Safe Market, Carter FS, and Standard Bit Options.
The market regulator also warned against a clone of Ignis Markets, an FCA-regulated platform.
"We believe this firm has been providing financial services or products in the UK without our authorization," the UK regulator stated in the warning.
The FCA is vigilant about financial service providers offering services to Brits. Many are also scammers trying to dupe clients, luring them with promises of high returns.
Notably, the warning list also includes a few platforms offering crypto-based investment services, while one platform providing options trading services is offering Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term up to 200x.
"Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by us," FCA added. "However, some firms act without our authorization and some knowingly run investment scams."
Finance Magnates reached out to most of the companies for their take on the warning, however, did not receive any response as of press time.
Imposters
Warning against the clone of Ignis Markets, FCA stated: "Fraudsters are using the details of firms we authorize to try to convince people that they work for a genuine, authorized firm."
"This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorized firm or other details."
Earlier, the FCA also issued a warning against BitMEX, a popular crypto derivatives platform, for offering un-authorized services in the UK.