FCA Issues Warning Against Clone Firm RTC Finance
RTC Finance is operating as a clone of EEA-registered Spot Capital Markets, drawing the latest FCA warning.
The UK’s Financial Conduct Authority (FCA) has continued its ongoing effors to warn the general public against fraudulent and unauthorized entities. The regulator has warned against clone firm RTC Finance, which is impersonating EEA-authorized firm Spot Capital Markets Ltd.
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Clone firms are not an unusual occurrence in the industry, as fraudsters have grown increasingly resourceful in recent years. A commonly adopted tactic is for scammers to advertise an illegal operation as a reputable brand or entity. Individuals in the UK have been targeted by RTC Finance, a.k.a. Icon Markets, a.k.a. First World Consultants Limited, drawing this latest warning.
The clone firm is using the address www.rtcfinance.com, with the following contact information:
Spyros Court, Office 12, Makariou III Avenue 42, 3065, Limassol, Cyprus
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5 Cork Street, Belize City, Belize
35 Barrack Road, PO Box 2391 2nd floor, Belize City, Belize
Telephone: 0203 6775499, 01617381919
Individuals are advised to avoid engaging with RTC Finance or any of its other unregulated entities. The clone firm is not authorized by the FCA and has been giving out false details and information in an attempt to lure clients using some correct details of Spot Capital Markets Ltd.
On its part, Spot Capital Markets Ltd is in no way affiliated or associated with the clone firm, and is registered with the EEA (reference number 613078). Individuals are encouraged to utilize the FCA’s register to ascertain the authorization of any firm before dealing with it. All individuals or firms garnering FCA regulation or authorization appear on the register – a simple check of any firm deemed suspicious is highly advised to avoid falling victim to any scam.
I am writing to you with the hope that you approach the RTC management team regarding my loss of funds Euro 165,000.00. My Name is Robert Siino Account number: 1037674 The loss of my money was not through the fault of my speculation, but through the investment speculations that were instructed to me by Mr. John Stanley, Executive Trader and his expert team traders. Prior to the investments, which I was dictated to open on the Forex trade by a Senior Executive Trader assigned to me by John Stanley, I was doing ok with very little conservative trading with myself.… Read more »