The FCA warns against Forex broker, which was soliciting clients without legal authorization. The regulator gives details of the broker and warns the public to restrain from dealing with this business.
5 August, AtoZForex – The Financial Conduct Authority’s (FCA) main aim is to safeguard the proper functioning of financial markets so that the customers get the fair deals. This is achieved through the main activities: protecting the consumers, enhancing market integrity and promoting competition. To protect the consumer’s interests, the regulator issues warnings about fraudulent firms. Today the FCA warns against Forex broker Inter Global, which is believed to be operating without a proper license.
FCA warns against Forex broker Inter Global: details
According to the regulator, the brokerage firm Inter Global Ltd has been targeting investors in the UK without proper FCA authorization. Almost all firms and individuals who provide, promote or sell financial services or products in the United Kingdom must attain a proper license from the Financial Authority Conduct.
The broker operates through the website www.fx-inter.com and provides financial services, tools and education materials to both retail and institutional customers. The investigation of the website showed no evidence of the broker being regulated by any regulatory entity.
Lack of transparency
Apparently, the website lacks transparency: the registration number is indicated; however, no regulatory body is specified. AtoZForex has tried to reach the firm via number showed on the website (apparently of British origin), but the line is not functioning. The Head office is not indicated as well. We have reached out to the FCA for the comment on the case. The request is still pending.
The regulator issued a warning to the public, so the potential investors will be on guard about using financial services of this firm. As FCA warns against Forex broker Inter Global, the watchdog also reminds that investors should deal only with authorized financial firms. The list of licensed entities can be checked on the website of the regulator.
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