FCA Issues Warning Against 'B2S Forex' and Encourages Investors to Avoid Unregulated Entities
- The FCA issues a new warning against another start-up FX broker operating without a license. This time, the perpetrator is not camouflaged in the City of London, but rather a leafy village in Leicestershire.
Earlier today, U.K. regulator, the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) issued a public warning regarding B2SForex, a small unregulated FX broker operating out of Leicestershire, England.
At the time of writing, the broker's website (www.b2sforex.com) continues to claim regulatory oversight by the FCA under the trading name 'Business Finance Advisory Service Ltd'. A rudimentary search of the company's business address indicated the broker is operating from a residential street in the village of Whitwick in Leicestershire.
The FCA says that the broker has not obtained suitable regulatory approval, but is claiming to be authorized and regulated by the FCA on its website and marketing materials.
The FCA's warning reads: "We believe this firm has been providing financial services or products in the U.K. without our authorization".
As part of its communications with the broader Retail Trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term community, the FCA urges all financial market participants in the U.K. to "... find out why to be especially wary of dealing with this unauthorized firm and how to protect yourself from scammers".
The agency prescribes 10 steps that can help investors and traders avoid fraudulent and unscrupulous firms.
Earlier today, U.K. regulator, the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) issued a public warning regarding B2SForex, a small unregulated FX broker operating out of Leicestershire, England.
At the time of writing, the broker's website (www.b2sforex.com) continues to claim regulatory oversight by the FCA under the trading name 'Business Finance Advisory Service Ltd'. A rudimentary search of the company's business address indicated the broker is operating from a residential street in the village of Whitwick in Leicestershire.
The FCA says that the broker has not obtained suitable regulatory approval, but is claiming to be authorized and regulated by the FCA on its website and marketing materials.
The FCA's warning reads: "We believe this firm has been providing financial services or products in the U.K. without our authorization".
As part of its communications with the broader Retail Trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term community, the FCA urges all financial market participants in the U.K. to "... find out why to be especially wary of dealing with this unauthorized firm and how to protect yourself from scammers".
The agency prescribes 10 steps that can help investors and traders avoid fraudulent and unscrupulous firms.