British Regulator Warns Against MarketGbp FX Broker
- MarketGbp is targeting UK investors offering a full range of offshore investment services.
British investors have been warned not to take out any financial services with MarketGbp after the Financial Conduct Authority (FCA) on Wednesday said it had faked its authorization.
MarketGbp is targeting UK investors offering a full range of offshore investment services, including FX trading services, but the City watchdog has said the registration number on its website is a fake and the firm is not authorized to do business in the UK.
The FCA has recently issued multiple warnings to investors advising them not to use the services of several clone/unregulated investment firms.
Even for authorized firms, Britain’s financial regulator earlier this month issued a statement to remind their CEOs about their Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term when communicating with clients, and strongly encouraging them to review their websites and financial promotions.
Scam victims not covered FSCS
The watchdog says firms must balance their need to communicate a clear business message with the FCA’s relevant requirements. Their executives will also need to consider whether the financial promotions they approve are fair and clear, and don’t constitute misleading information.
The FCA has advised anyone who has been contacted by MarketGbp to contact its consumer helpline on 0800 111 6768.
A visit to the broker’s website reveals its attempt to mislead investors that it is offering a legal product – it claims to be registered in Estonia.
Today’s announcement is the latest in the FCA’s series of warnings about unauthorized firms posing as legitimate, approved businesses to con UK consumers into making Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for investment services.
If you are an investor, you should be aware that the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available if you deal with an unauthorized company or individual, the FCA said in a statement.
British investors have been warned not to take out any financial services with MarketGbp after the Financial Conduct Authority (FCA) on Wednesday said it had faked its authorization.
MarketGbp is targeting UK investors offering a full range of offshore investment services, including FX trading services, but the City watchdog has said the registration number on its website is a fake and the firm is not authorized to do business in the UK.
The FCA has recently issued multiple warnings to investors advising them not to use the services of several clone/unregulated investment firms.
Even for authorized firms, Britain’s financial regulator earlier this month issued a statement to remind their CEOs about their Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term when communicating with clients, and strongly encouraging them to review their websites and financial promotions.
Scam victims not covered FSCS
The watchdog says firms must balance their need to communicate a clear business message with the FCA’s relevant requirements. Their executives will also need to consider whether the financial promotions they approve are fair and clear, and don’t constitute misleading information.
The FCA has advised anyone who has been contacted by MarketGbp to contact its consumer helpline on 0800 111 6768.
A visit to the broker’s website reveals its attempt to mislead investors that it is offering a legal product – it claims to be registered in Estonia.
Today’s announcement is the latest in the FCA’s series of warnings about unauthorized firms posing as legitimate, approved businesses to con UK consumers into making Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for investment services.
If you are an investor, you should be aware that the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available if you deal with an unauthorized company or individual, the FCA said in a statement.