Is FCA Market scam or reliable? FCA warning

Don’t get duped! Scam companies use a host of tactics ­­- bogus websites, emails, social media accounts and fake crowdfunding. Through the latest investigation findings of the UK watchdog on FCA Market it will become clear, is FCA Market scam or reliable?

15 September, AtoZForex - In its latest investigation on a broker, Financial Conduct Authority (FCA) has had to deal with a company that has a name similar to its own. FCA has flagged an entity called FCA Market, which is not registered to conduct financial activities in the UK. What else was brought to light after FCA UK's investigation and issuance of warning on FCA Market?

Is FCA Market scam or reliable?

FCA Market operates through the website and claims to be founded in St.Vincent and the Grenadine. However, it provides trading-related solution services. The firm also offers the FCA-authorised status of Fincere Capital Management Limited as a basis for conducting business in the UK. However, Fincere Capital Management Limited is not available online to verify this association.

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The company has listed some top banks as its liquidity providers, including Citi Bank. It claims operating from England and have representatives in Bahrain, Singapore and Australia. Thus, the firm has not listed its management personnel. These conditions raised the suspicion of the FCA. After doing a thorough research the FCA concluded that FCA Market is not registered to conduct financial activities in the UK.

In FCA's notice warns the investment community again to always cross-verify companies before transacting. In the event of losses with an unregistered firm, the market regulator will unable help the victims nor

FCA UK ICO Investigation: Will ICO be regulated in the UK?

Earlier, FCA has emerged as one of the latest global regulators to examine initial coin offerings (ICOs). The ICOs sell digital tokens to investors in exchange for the cryptocurrency, such as Bitcoin and Ethereum.

The watchdog has informed the public that it was keeping an eye on ICOs. In the period of the last 12 months, ICOs have gained crazy popularity. Rapid price spikes of digital tokens that were issued in the past year have attracted some speculative interest to the market.

In its April discussion paper, the FCA stated that the rules that protect investors and determine what should be disclosed by an issuing company could apply to ICOs. This is depending on the structure of ICO.

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