FCA Warns Britons Against 3 Unauthorized Forex Brokers

British watchdog, the FCA has warned against three unauthorized Forex brokers that are approaching UK investors without being authorized by the regulators. 

December 3, 2020, | AtoZ Markets – UK’s financial regulator has continued its ongoing efforts to warn the general public against fraudulent and unauthorized entities. Particularly, the City watchdog today warned against 3 unauthorized Forex brokerage firms, M365FX, AOX Capitals, and Super5 trading.

These fraudulent platforms are dangerous as they are outright frauds.

FCA warns against M365FX, AOX Capitals, and Super5 trading

Today’s announcement is the latest in the FCA’s series of warnings about unregulated firms posing ‎as legitimate, approved businesses to con UK consumers into making payments for ‎investment services.‎ The following details were provided about the suspicious brokerage firms:

1# M365FX

Address: First Floor, First St. Vincent Bank Ltd Building, James Street, PO Box 1574, Kingstown, St Vincent & the Grenadines

Telephone: 08006891052

Email: admin@m365fx.co.uk, support@m365fx.co.uk

Website: www.m365fx.co.uk

2# AOX Capitals / AOX Trade

Address: 143 Castle Road 517 District, New York, USA

Email: support@aoxcapitals.com

Website: www.aoxcapitals.com, www.aoxtrade.com

3# Superfive / Super-five / Super5 trading name of PivoTech Global Ltd

Address: C/o Suite 305, Griffith Corporate Centre, Beachmont, Box 1510, Kingstown, St Vincent and the Grenadines

Telephone: 07890302891, 07809487389, 07766004602, 07493063988, 07427272903, 07788561841

Email: support@super-five.com, compliance@super-five.com

Website: https://super-five.com

The FCA warned Britons against all these firms and asked not to fall for any of their offerings as they are possible frauds.

So you need to be wary

Unauthorized FX brokers are becoming common in the industry, as fraudsters have grown increasingly resourceful in recent years. A commonly adopted tactic is for scammers to advertise an illegal operation as a reputable brand or entity. They do this in order to dupe unsuspecting investors into parting with their personal details or cash.

For example, an FX broker called So FX was also blacklisted by the UK’s watchdog after the company claimed that it operated ‎with an FCA license. The regulator, however, clarified that the ‎company does not have any valid license to provide ‎investment services in the country.‎

Echoing previous warnings, the FCA ignores that unauthorized brokers continue to promote unregulated investments, ‎taking money from the general public, and the regulator is ‎powerless to do anything.

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