The FCA has flagged Flags Price Action Forex along with FXBTC because these entities have been operating in the UK without proper authorization.
March 23, 2020 | AtoZ Markets – At the start 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 Monday.
In particular, the UK authority has added two new entities onto its warning list today – Price Action Forex along with FXBTC, which the regulator believes are both offering financial services without authorization in the United Kingdom.
FCA: Price Action Forex and FXBTC 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.”
Moreover, the British watchdog has clearly provided the following details as belonging to Price Action Forex this Monday:
Address: 99 Guild Rd, London SE7 8HW
And for FXBTC, the FCA has also provided the following details:
Address: Boulevard Vasil Levski 113, Sofia 1000, Bulgaria
Telephone: 0208 089 8074; 0203 9664394; 08446680349; 0844688353; 0852506644; 0735463526; 0703220664
Email: email@example.com; firstname.lastname@example.org; email@example.com
Taking a look at its website, Price Action Forex claims: "We are a team of more than 15 professional traders with years of experience in the financial markets. We also scan the markets 24/7 every single day. We decided to build our company to help retail forex traders profit consistently every month using our expertise. PriceAction Forex Ltd is registered in the UK and most of our traders are based there."
Furthermore, on the FXBTC website, it says that: “FxBTC is the latest and most cutting-edge service delivering trading. We give novice and professional traders the chance to capitalize from the ever-changing world of online trading. Our sophisticated and user-friendly trading environment enables clients to enjoy a unique experience while benefiting from the price movement of some of the most popular assets in the market including currencies, commodities, and indices."
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