FCA Lists OMC Markets as Unauthorized Forex Broker

According to the regulator’s statement, FCA lists OMC Markets as unauthorized. And it is offering services, which it believes fall under its authority, to people of the United Kingdom.

28 November, 2019 | AtoZ Markets – OMC Markets is a Sofia based forex broker. As per their website, the company is owned and operated by Personal Found LTDSofia 1000. According to FCA announcement, OMC Markets have been providing financial services or products in the UK without any authorization.  

FCA Marks OMC Markets as Unauthorized

With rising scams, financial regulators around the world are struggling to protect consumers. Today, the Financial Conduct Authority (FCA) has once again updated its warning list to include a new entity. This entity is OMC Markets.

Almost all companies and individuals offering, promoting, or selling financial services or products in the UK must be licensed by FCA. However, some companies are acting without FCA’s authorization, and others are knowingly engaging in investment scams. This company is not authorized by FCA and also targets people in the UK. However, FCA said that in its warning.

The regulator provides the following details about the entity:

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  • Address: Personal Found LTD Sofia 1000, Geo Milev residential area, 17 Andrei Nikolov Str., ap.4
  • Telephone: 03300271542; 03300271643; 03300271610
  • Email: support@omcmarkets.com; compliance@omcmarkets.com; compliancemain@omcmarkets.com; info@omcmarkets.com
  • Website: www.omcmarkets.com

Looking at the website, OMC Markets is a Forex and CFD broker. Additionally, it is offering a range of assets to trade, including commodities, stocks, futures, currencies, and indices.

“Since its inception, it has operated with an unparalleled level of ethics and excellence. That allows investors and traders to benefit from safe and profitable trading continuously,” OMC Markets said on its website.

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FCA Is Following the Example of ESMA

In the past year, the FCA has intensified its efforts to protect retail investors. First, it was following the example of the European regulator ESMA in 2018. At the time, it took measures to limit the marketing of CFDs to retail customers. However, that mainly applied to regulated suppliers.

The last step was taken in July, after making ESMA’s temporary intervention measures permanent. But that was with some differences, such as their application to a wider range of products.

AtoZMarkets reached out to them for the recent updates about the case. We are waiting for the comments and the latest updates from the company.

Think we missed something? Let us know in the comments section below.

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