Enigma Strategy, which has been operating since 2019 as a trading name of Mayfair Capital, has secured its own licence from the UK Financial Conduct Authority.
This latest regulatory approval reinforces Enigma Strategy’s ability to operate its hybrid business model that includes FX and stocks’ brokerage, copy trading and trading signals.
Following authorisation from the UK conduct regulator for financial services firms, Enigma Strategy expanded the provision of ancillary services, having recently rolled out its proprietary FX research & analysis offering, dubbed ‘the Enigma Platform’.
As well as providing traditional execution, portfolio advisory and dealing services, thanks to their direct FCA authorisation, Enigma Strategy is also able to offer its clients trading signals on behalf of their brokers.
While the company is authorised by the FCA, its trade signals service is not regulated, and therefore, customers who subscribe to this service are not eligible for the Financial Ombudsman Services (FOS) or covered by FSCS’s compensation plans.
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“Via the Enigma Platform, customers can espouse their own analysis with signals on every major currency pair produced every six hours from qualified veteran traders, with said signals being generated under an Artificial Intelligence and Machine Learning framework,” the company said.
Enigma Also Offers Copy Trading
Further, tools on their platform include technical analysis, live charts, pattern recognition, economic calendar, sentiment alerts, forex-based market information, among many others. Enigma additionally provides these services as a B2B product for other brokers seeking regulated retention tools.
In addition to its analytics platform, Enigma Strategy also provides educational trading courses for customers.
For users who desire a more hands-off approach, Enigma says it offers a compliant Copy Trading service that allows investors to release their trades publicly and have other traders follow them in their decisions.
The FCA places copy trading platforms within similar regulatory boundaries to portfolio management services and extra rules have to be followed in order to make it legal. In the wake of damaging incidents of market misconduct, providers of copy trading, alternatively referred to as mirror trading, were required to obtain permissions to carry out the practice in England.