According to the FCA UK SolidCFD warning, the company is not authorized by the regulator and is targeting people in the UK. What do we know about this entity?
26 February, AtoZForex – The primary regulator of the financial markets in the UK, the Financial Conduct Authority (FCA) has issued a new warning on its official website. The warning explains that the firm under the spotlight has been offering financial services without any authorization to do so. The firm’s name is SolidCFD.
FCA UK SolidCFD Warning Details
The FCA also reminds investors that not all companies that do not have the authorization are actually scams. However, it is very important to be wary of such entities, since they are not registered with FCA. In addition, the official warning from the FCA states:
“This firm is not authorised by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorisation.”
According to the warning, the company operates online via solidcfd.com. A visit to the website of the firm reveals that it offers Forex and Contracts for Difference trading services. The company also claims to have an office at the following address: Suite 368, Lansdowne Row, London W1J 6HL. The owner of the company - LOK marketing Ltd.
We have reached out to the company in order to get additional insights into the case. We are currently awaiting the response from the company.
Latest FCA Warnings for Investors
In the mid-February, FCA has warned investors against dealing with XMarkets. The UK watchdog further stated that XMarkets has been providing financial services or products to the UK-based investors without any authorization to do so. This implies that the firm did not have regulatory permission, as per the FCA official statement.
Another recent warning mentioned the name of MaxCFD. According to the regulatory notice, MaxCFD has been providing professional investment services to the UK residents without any authorization to do so. The UK FCA further warns that this firm has no association with any of the FCA-regulated entity. In addition, the watchdog mentioned that the first has been flagged for operating and targeting UK-based investors without an appropriate license.
Think we missed something? Let us know in the comments section below.