The UK financial supervisor has issued yet another public warning. This time, Stern Options firm is under the spotlight. Is Stern Options scam or reliable?
6 June, AtoZForex – The UK financial regulator Financial Conduct Authority (FCA) has published an alert for the public. The warning features the name of the financial services firm, which appeared to solicit to the UK clients. The UK regulator highlights that the entity has no authority to operate in the country.
Is Stern Options scam or reliable?
The UK FCA has issued a warning against the financial services provider. The UK watchdog brought to the public attention the name of unregulated firm Stern Options. The regulator reports that Stern Options has no license by the FCA. However, the entity was targeting consumers in the UK and also carrying on the activities that require special regulations from the UK FCA.
The official announcement by the UK regulator states:
“We believe this firm has been providing financial services or products in the UK without our authorisation.”
In order to protect investors from being scammed by this entity, the regulator as published the details of this firm:
Address: Stern European Support Center, 5th and 6th Floors, Landmark Building, 14 Tsar Osvoboditel Blvd, Sofia 1000, Bulgaria
Telephone: 0208 068 4733, 0208 068 1781, 0203 769 9876, 020 068 2975
Earlier last month, the FCA has issued a warning against CWA Options. The UK financial markets regulator claims that CWA Options has been providing financial products and services to the UK residents without any authorization to do so. Thus, the FCA has cautioned investors against dealing with this firm.
The Binary Options brokerage is operating online via https://cwa-options.com and www.cwaoptions.com. The regulator has published the following address, referring to the fraudulent firm: 122 Leadenhall Street, London EC3V 4AB. CWA options displayed the phone numbers 020 7060 6358 and 020 3733 1271 on their official website. Moreover, the firm has listed a long list of emails.
How to protect yourself from the financial scam?
The FCA strongly advises to ONLY deal with financial firms that possess authority from the regulator. In order to check the presence of the trading license of the particular firm, you can visit the Financial Services Register. Specifically, this source provides information on firms and individuals that are, or have been, regulated by the FCA.
Also, the regulator highlights that in case you decide to deal with the firm with no regulation, you will not have the protection by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.
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