The UK Financial Conduct Authority (FCA) has exposed another unregulated forex brokerage that is attempting to deceive clients online. StrattonFX is a broker that apparently claims to have a UK address when in reality it does not have one.
The firm is using a fake address in London while also listing that it is operated by a company that is allegedly based in St. Vincent & the Grenadines. Stramax Ltd claims to operate the website and the domain name was registered in September 2015. The registration of the domain expires in September of this year.
StrattonFX is not a regulated brokerage and its claims to be London-based are most likely supposed to deceive clients into depositing funds.
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Sloppy English is all over the website, suggesting fraudulent activity. The company also uses Western Union’s logo, a certain red flag for depositors to any brokerage. Cash transfers are not an acceptable way to fund trading accounts under any jurisdiction and the recovery of funds sent this way is virtually impossible.
No Association with Stratton Street Capital
An FCA-regulated company named Stratton Street Capital has no affiliation with StrattonFX. Despite what the fraudulent forex broker’s sales representatives might say, the regulated company has never been connected to the activities of the former.
Unlike the fraudsters from StrattonFX, Straton Street Capital actually has a physical address in London. The company was founded in 2000 and is focused on fixed income markets, providing fund management and advisory financial services.
The company has listed a total of four funds that it is operating, two of which are focused on the Chinese renminbi.