FCA Warns Against Several Unauthorized FX Brokers
- FCA warned that these firms were flagged for operating and targeting UK citizens without a license.
The UK Financial Conduct Authority issued a warning on Friday against two entities – a 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 brokerage firm has been falsely claiming registration and a clone that has been posing as being affiliated with regulated entities in Hong Kong.
All firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by the FCA.
The UK watchdog has blacklisted a forex and CFDs broker named HQ Broker, operating through https://www.hqbroker.com, which claims that it is offering a legal product. It claims to be governed by the FCA and Hong Kong’s Securities and Futures Commission (SFC).
The City watchdog has also warned against New Power Gen Ltd t/a Strategy Markets, which operates as a CFD, Forex, and cryptocurrency brokerage. Reviewing the company’s website didn’t Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a much valuable information regarding its operation, except for the usual claim of being a leading investment firm.
The watchdog warned that this brokerage firm may be a scam and added that it was flagged for operating and targeting UK citizens without a license. The FCA pointed out that the company is based out of an undisclosed jurisdiction while soliciting its clients using the website https://strategymarkets.co.uk.
The warning is another step in the FCA’s tireless efforts to crack down on unregulated firms posing as legitimate approved businesses with full force. The regulator has previously issued warnings against similar companies, urging the public to beware of firms working outside the law and without the proper necessary approvals and licenses.
The UK Financial Conduct Authority issued a warning on Friday against two entities – a 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 brokerage firm has been falsely claiming registration and a clone that has been posing as being affiliated with regulated entities in Hong Kong.
All firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by the FCA.
The UK watchdog has blacklisted a forex and CFDs broker named HQ Broker, operating through https://www.hqbroker.com, which claims that it is offering a legal product. It claims to be governed by the FCA and Hong Kong’s Securities and Futures Commission (SFC).
The City watchdog has also warned against New Power Gen Ltd t/a Strategy Markets, which operates as a CFD, Forex, and cryptocurrency brokerage. Reviewing the company’s website didn’t Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a much valuable information regarding its operation, except for the usual claim of being a leading investment firm.
The watchdog warned that this brokerage firm may be a scam and added that it was flagged for operating and targeting UK citizens without a license. The FCA pointed out that the company is based out of an undisclosed jurisdiction while soliciting its clients using the website https://strategymarkets.co.uk.
The warning is another step in the FCA’s tireless efforts to crack down on unregulated firms posing as legitimate approved businesses with full force. The regulator has previously issued warnings against similar companies, urging the public to beware of firms working outside the law and without the proper necessary approvals and licenses.