13 July, AtoZForex – The Financial Conduct Authority (FCA) is still on its journey of protecting the interests of investors through warnings about unregulated activities and entities. Recently the watchdog has unmasked new fraudulent firm, warning the potential investors from cooperating with it. FCA warning against clone firm of Go Markets UK Trading Ltd states that the firm was operating illegally in the United Kingdom.
Details of FCA warning against clone firm of Go Markets UK Trading Ltd
The clone firm of the Go Markets UK Trading Ltd has been operating through the website https://www.gomarkets.eu/ and using the following address: Birchin Court, 20 Birchin Lane, London, EC3V 9DU. Basically, the clone firm is using all details of the original firm. The real company GO Markets UK stated that it is no way affiliated with the clone company. According to the FCA, the clone firm has no right to provide its financial services to the UK customers or in any other jurisdiction.
"Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm."
Multibank ReviewT&Cs apply, 18+eToro Review74% of retail investor accounts lose moneyCapital.com Review76% of retail CFD accounts lose money
False regulation
The clone firm Go Markets UK Trading Ltd has also proclaimed falsely that it is currently regulated by the FCA. Moreover, it claimed to be offering a variety of financial services related to the reputable brokers, Forex, commodities, options, and other similar instruments. The FCA warns the investors about potential danger in dealing with this firm.
The AtozForex team has reached out to one of the representatives of the Go Market UK Trading Ltd:
"We are very glad that the FCA is protecting our rights. We operate since 2009 and we're FCA-regulated firm. They have used our brand, copied our name and our website. But due to the action taken by the FCA, it can be stopped."
See also: FSMA warns investors about OneCoin cryptocurrency
Think we missed something? Let us know down in the comments section.