The Financial Conduct Authority (FCA), the United Kingdom’s financial regulatory body, today issued a warning against another fraudulent entity.
The warning comes just a few days after the watchdog warned about Baumer Mansoor Financial Advisory (BMFA), as reported by Finance Magnates.
This time, the firm under the spotlight is Inter Global Ltd, which the FCA believes to have been providing financial services in the UK without its authorisation.
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Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by the FCA.
However, Inter Global, which operates online via the website www.fx-inter.com, and purports to “provide both retail and institutional customers with everything needed to make trading simpler, faster and more successful”, has been targeting people in the UK without FCA authorisation.
Upon further investigation into the brokerage’s website, Finance Magnates was unable to find any evidence of regulation by any regulatory authority and access to the firm’s rules and regulations, which usually shed some light as to the firm’s location, were directed to the ‘Contact Us’ page.
The FCA has therefore issued a warning against using the services of this firm and advises investors to only deal with licensed financial firms which can be checked against the Financial Services Register containing information on firms that are regulated by them.