The UK’s Financial Conduct Authority has brought to light the latest scam facing market participants, this time warning about MarketsCT, a clone of an FCA registered firm, Capital Markets, in a recent FCA announcement.
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Capital Markets Trading UK LLP is an FCA registered financial services provider (Ref: 509551), which is based out of London. By extension, MarketsCT has illegally fashioned itself to be a clone of the aforementioned firm, claiming an identical address (175 Piccadilly, London W1J 9EN), despite maintaining no such base or affiliation with the group.
The FCA has warned investors or market participants against engaging with MarketsCT (http://marketct.com). While Capital Markets Trading UK LLP is officially registered and regulated by the FCA, MarketsCT maintains no such background, with its investment services not being under the mantle of any judicial body.
In addition to claiming a fraudulent UK address and regulatory status, MarketsCT is claiming to offer a number of services, including foreign exchange (FX), contracts-for-difference (CFDs), stocks, and indices. Despite information on its website stating the contrary, MarketsCT retains no ties or business with Capital Markets Trading and should be avoided.