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Abstract:The FCA recently issued a warning against two unlicensed brokers on 24 April,2023 The regulatory body has identified these brokers operating without the required authorization.
FCA recently issued a warning against two unlicensed brokers on 24 April,2023. The regulatory body has identified these brokers operating without the required authorization. This means that they are not subject to the same level of scrutiny and regulation as licensed brokers, which could put investors at risk. Here are names and screenshots of these brokers via FCA official website.
Name: UNLIMITED CAPITAL TRADING / THE UNLIMITED CAPITAL
Address: 264 Broad Street, Birmingham, UNITED KINGDOM, B1 2DS
Telephone: +15128433469
Email: support@unlimitedcapital.online
Website: www.unlimitedcapital.online
Name: AVA TRADES GO
Address: 76 Commercial Street, Edinburgh, UNITED KINGDOM, EH6 6LX, 846 Melrose Street, Spokane, Washington, UNITED STATES OF AMERICA, 99201
Telephone: +447451271701, +16145472179
FCA warned investors not to invest with these brokers. However, they must be careful if they do as these brokers lack broker licenses. Therefore, the risk may exist. They offer financial and investment services to clients without a license in the UK.
When we searched these brokers on Wikifx, we found they are brokers without any regulation and have lowest scores. Unlimited Capital has a 0.99 out of 10, while AVA TRADES GO has only 1.74 out of 10. Therefore, it is unsafe and risky to invest with these brokers.
About FCA
Financial Conduct Authority (FCA) is a regulatory body in the UK. The FCA's main role is to protect consumers by regulating financial products and services, promoting competition and ensuring that financial firms are financially stable. The FCA also has the power to investigate and take enforcement action against firms that breach its rules and regulations.
Install the WikiFX app on your smartphone to stay updated with similar latest news. WikiFX is a global forex broker regulatory enquiry platform that has investigated and reviewed more than 40,000 brokers, collaborating with more than 30 national regulators. To learn more about the security and reliability of your chosen brokers, visit www.wikifx.com or download our free app from Google Play or app store.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.