Is Olsson Capital scam or reliable? According to the latest warning from FCA to the investors’ community in the UK, the company does not have any registration to operate in the UK. What do we know about this entity?
29 March, AtoZForex – The primary regulator of the UK, the Financial Conduct Authority (FCA) has added new company name to its list that includes firms that are illegally conducting financial services targeting UK residents.
Is Olsson Capital scam or reliable? FCA UK Warning Details
From the official FCA announcement, it is known that the newly added entity is operating under the name Olsson Capital. The company operates as a CFD, Forex and cryptocurrency brokerage. The UK watchdog has spotted the unauthorized company thanks to its website https://www.olssoncapital.com/.
The website is listing few contact details, those including the UK phone number. However, the company is reportedly operating from the following address: Carter Enterprises OU, 85 James Bouchier Blvd., Sofia, Bulgaria.
The website of the firm also states that the company offers contracts-for-difference (CFDs), spreads, and other Forex products. The firm is additionally known to provide cryptocurrency trading services.
Latest FCA Warning for Investors
This announcement from the FCA comes as the latest in the string of warnings from the UK that aim to protect investors’ community. Previous such warning appeared exactly a week ago, when the FCA has warned investors about two brokerages that came under scrutiny by the regulator for offering trading services to the UK residents without the necessary authorization.
The UK FCA has cautioned that firms under the names SW1 Options and BECFD have been operating online without any permission from the watchdog. Moreover, the regulator mentioned that the firms do not have any association with any FCA-licensed entity.
The FCA added that BECFD was red flagged for operating and targeting the UK citizens without any valid license. The regulator has pointed out that the company is based out of an undisclosed jurisdiction, while it is targeting its clients online via the website www.becfd.com.
In relation to the binary options firm, SW1 Options, the FCA UK has stated that this online firm has been soliciting clients without being licensed to carry out any activities like that.
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