UK FCA Warns on Alpha Crypto Trade FX Ltd

by Felipe Erazo
  • The company is reportedly targeting UK-based customers.
  • The British regulator said they're not authorized to provide financial services.
FCA

The UK financial regulator, the Financial Conduct Authority (FCA), has issued a warning against Alpha Crypto Trade FX Ltd, as it’s not an authorized company to provide financial services or products in the country.

According to the advisory organisation, the company is allegedly targeting people based in the United Kingdom and has warned the following: “You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.”

Alpha Crypto Trade FX Ltd is operating under a US-based address, and its website remains functional. “Be aware that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses,” the British regulator commented.

The FCA notes that if you use an authorized firm or registered firm, you will have access to the Financial Ombudsman Service and FSCS protection, depending on the amount of your investment, the services it provides and the permissions it has. In addition, a registered or authorized firm should be able to provide you with more information about protection.

Prior Warnings on Other Firms in January

In January, the UK FCA issued warnings on Falcon Financial Solutions Ltd and Thestral Financial Services Ltd.

The following statement was made on the FCA website at that time: “We have removed permissions from Falcon Financial Solutions Ltd and Thestral Financial Services Ltd. They are no longer permitted to carry out any regulated activities. Any investments with Falcon or Thestral may not be protected, and you could lose all your money if you invest with them.”

The warning comes due to Cavendish Incorporated Ltd., which has been linked to Falcon Financial Solutions. The same individual controls both Falcon and Thestral. The FCA issued a warning on Cavendish in August 2021.

The UK financial regulator, the Financial Conduct Authority (FCA), has issued a warning against Alpha Crypto Trade FX Ltd, as it’s not an authorized company to provide financial services or products in the country.

According to the advisory organisation, the company is allegedly targeting people based in the United Kingdom and has warned the following: “You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.”

Alpha Crypto Trade FX Ltd is operating under a US-based address, and its website remains functional. “Be aware that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses,” the British regulator commented.

The FCA notes that if you use an authorized firm or registered firm, you will have access to the Financial Ombudsman Service and FSCS protection, depending on the amount of your investment, the services it provides and the permissions it has. In addition, a registered or authorized firm should be able to provide you with more information about protection.

Prior Warnings on Other Firms in January

In January, the UK FCA issued warnings on Falcon Financial Solutions Ltd and Thestral Financial Services Ltd.

The following statement was made on the FCA website at that time: “We have removed permissions from Falcon Financial Solutions Ltd and Thestral Financial Services Ltd. They are no longer permitted to carry out any regulated activities. Any investments with Falcon or Thestral may not be protected, and you could lose all your money if you invest with them.”

The warning comes due to Cavendish Incorporated Ltd., which has been linked to Falcon Financial Solutions. The same individual controls both Falcon and Thestral. The FCA issued a warning on Cavendish in August 2021.

About the Author: Felipe Erazo
Felipe Erazo
  • 1036 Articles
  • 42 Followers
About the Author: Felipe Erazo
Felipe earned a degree in journalism at the University of Chile with the highest honour in the overall ranking, and he also holds a Bachelor of Arts in Social Communication. In addition, he has been working as a freelance writer and Forex/crypto analyst, with experience gained from several forex broker firms and crypto-related media outlets around the world. He has been involved in the world of online forex trading since 2010 and in the crypto sphere since 2015.
  • 1036 Articles
  • 42 Followers

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