The British FCA warns people to steer clear from the Forex education platform called Bucketlist Traders as it has apparently been providing its services illegally.
June 19, 2019, | AtoZ Markets - UK Financial Market Conduct Authority (FCA) has issued the latest warning against an unregulated financial service provider, whose target group is British consumers. FCA's latest warning is directed towards Bucketlist Traders Limited.
FCA issues Bucketlist Traders warning
Bucketlist Traders Limited is a company that offers currency trading education courses. Headquartered in Manchester, the brokerage firm sells these courses, as well as seminars and trading signals to retailers. Nevertheless, the firm is not authorized by the FCA and is also doing business that requires authorization.
These programs offered by Forex education platform have flourished across the UK, but are often extremely suspicious. In many cases, these brokers offer extremely basic introductory courses that charge huge fees. Then they tried to get more courses for customers at a higher cost. Additionally, they also sell trading signals that are usually of poor quality. They also often act as brokers' marketers, earning sales commissions by selling delivery services to trainees.
In fact, Bucketlist is likely to have little value to its customers, but still, charge them a huge fee. So the FCA Bucketlist Traders warning should remind the public to stay away from the trading course of this Manchester-based brokerage company.
Watch out, AGM Invest is cloned
AGM Invest has also entered the FCA's vision. The UK regulatory watchdog has also recently warned against AGM invest, which allegedly impersonates the authorized firm under the same name. In its warning, the financial regulator states that AGM Invest is a clone firm of AGM Financial Services Ltd, which offers insurance services to UK residents. The FCA warns investors, that AGM Invest uses the name AGM Group and claims to provide trading in digital currencies.
The regulator, however, noted that the AGM Financial Services Ltd, which is an FCA representative firm, has no association with the clone company. AGM Invest official website suggests that the company is a Belize-based retail forex broker which aims to provide affordable trading solutions to retail traders. The company also offers crypto trading.
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