FCA Flags British Tait Investment Group

The Financial Conduct Authority (FCA) published a warning on its website on Thursday concerning the Tait Investment Group. According to the statement, the British regulator believes the firm has been offering financial services or products in the United Kingdom without authorization.

On its website, Tait Investment Group claims to offer an online 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 equities Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term for new and experienced investors. The broker states that it is regulated and authorized by the FCA. It also says it is a member of the London Stock Exchange and an approved ISA Manager.

However, the FCA has said the registration number on the website does not belong to the firm and is in fact not registered or authorized by the watchdog.

The Tait Investment Group operates through its website www.taitinvestmentgroup.com and states it is registered at 29 Clements Lane, London, UNITED KINGDOM, EC4N 7AE. The FCA states that the firm is not actually operating from this address. The regulator also added the companies house number quoted on its website does not exist.

The British regulator urges consumers to be particularly wary of the unauthorized firm and reminds them to be alert to potential scammers. Individuals can check the Financial Services Register to see whether a company is authorized.

Another day, another warning

Firms claiming to be authorized, when they, in fact, are not, is not a new trend. Particularly as fraudsters have grown particularly resourceful in recent years.

It is common for scammers to advertise themselves as regulated and legitimate companies, and as can be seen with the Tait Investment Group, they are not opposed to putting fake registration numbers on their website to trick investors.

The FCA encourages traders or those considering online trading to exercise caution and strongly ‎advises against opening an account with this company. It is important for consumers to remember that they will not receive assistance from the regulator should things go awry.