As we approach the end of the working week, the Financial Conduct Authority (FCA) remains vigilant in its fight against potential scams in the finance industry, with the regulator updating its warning list this Friday.
In particular, the UK authority has added two new entities onto its warning list today – Tradixa and Bitcoinmarketscap, which the regulator believes are both offering financial services without authorization in the United Kingdom.
FCA: These firms aren’t authorized in the UK
“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us,” the FCA explained.
“However, some firms act without our authorisation and some knowingly run investment scams. This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”
The British watchdog has provided the following details as belonging to Tradixa this Friday:
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And for Bitcoinmarketscap the details are:
Address: Floor 8 Devonshire House 1 Mayfair Place, London, England W1J 8AJ, United Kingdom
Telephone: (44) 208 089 0716; +44-2038088425; 02034985374; 0203 895 2955; 0203 695 3215
Email: email@example.com; firstname.lastname@example.org; Ken.email@example.com; Kyle.firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; Charles.email@example.com; Bejamin.firstname.lastname@example.org
Taking a look at its website, Tradixa claims to be an online trading provider, offering a range of assets such as foreign exchange (forex), commodities, stocks, and indices. Bitcoinmarketscap has a similar offering, but in addition to foreign exchange, the flagged entity also states that it offers cryptocurrency trading via contracts for differences (CFDs).
On the Bitcoinmarketscap website, it says that: “BitcoinMarketsCap is a robust online trading platform, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Our mission is to keep our offer and trading conditions simple and transparent.”