FCA Flags Latest Unauthorized Service Providers, Warns Against Olsson Capital
- The newly-listed entity operates as a CFD, forex, and cryptocurrency brokerage.
The Financial Conduct Authority (FCA) has updated its blacklist of companies that are illegally conducting financial services targeting UK residents.
The newly-listed entity is called Olsson Capital, which operates as a CFD, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, and cryptocurrency brokerage. Reviewing the company’s website didn’t yield much valuable information regarding its operation, except for the usual claim of being a leading investment firm.
The City watchdog located the unauthorized company via its website www.olssoncapital.com, which lists several contact details including a UK phone number. Olsson Capital’s address is allegedly based out of Bulgaria, located at Carter Enterprises OU, 85 James Bouchier Blvd., Sofia.
Olsson Capital’s website claims to offer contracts-for-difference (CFDs), spreads, and other Forex products. Launched in 2017, it also operates as an unlicensed Cryptocurrency broker.
Today’s announcement is the latest in the a series of warnings from the FCA about clones and unregulated firms posing as legitimate approved businesses in order 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.
The FCA has waged war on unregistered online trading firms and clone companies, and the number of brokers on its blacklist continues to grow. Last week, the British regulator highlighted another one, called Gainmax Capital – a forex brokerage firm that has been falsely claiming registration.
The Financial Conduct Authority (FCA) has updated its blacklist of companies that are illegally conducting financial services targeting UK residents.
The newly-listed entity is called Olsson Capital, which operates as a CFD, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, and cryptocurrency brokerage. Reviewing the company’s website didn’t yield much valuable information regarding its operation, except for the usual claim of being a leading investment firm.
The City watchdog located the unauthorized company via its website www.olssoncapital.com, which lists several contact details including a UK phone number. Olsson Capital’s address is allegedly based out of Bulgaria, located at Carter Enterprises OU, 85 James Bouchier Blvd., Sofia.
Olsson Capital’s website claims to offer contracts-for-difference (CFDs), spreads, and other Forex products. Launched in 2017, it also operates as an unlicensed Cryptocurrency broker.
Today’s announcement is the latest in the a series of warnings from the FCA about clones and unregulated firms posing as legitimate approved businesses in order 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.
The FCA has waged war on unregistered online trading firms and clone companies, and the number of brokers on its blacklist continues to grow. Last week, the British regulator highlighted another one, called Gainmax Capital – a forex brokerage firm that has been falsely claiming registration.