List of “RED FLAG” Brokers issued by FCA

Red flag brokers are individuals or firms that engage in unethical or fraudulent practices within the financial industry. These brokers often exhibit warning signs or “red flags” that investors should be aware of. The Best regulator in the world Financial Conduct Authority (FCA) issued a list of unauthorised brokers on 21 July 2023. You must avoid as an Investor or Trader. Here is the list and screenshot of those brokers.

Name: Rapidcointrades

Address: Cannon Place, 78 Cannon Street, London, EC4N 6AF

Telephone: +17575713305

Email: suppport@rapidcointrades.net

Website: www.rapidcointrades.net

Name: Bxcrypto Trading Investment Company

Address: 214 City Rd, Cardiff, United Kingdom, CF24 3JG

Email: support@bxcryptotrading.com

Website: www.bxcryptotrading.com

Name: MEGAFOXTRADE

Address: London

Telephone: +447405471652

Email: support@megafoxtraders.com

Website: www.megafoxtraders.com

Name: Etor FX Trading

Address: Coffeyville, Massachusetts, USA

Telephone: +8572500268

Email: info@etorfxtrading.com,

support@etorfxtrading.com

Website: www.etorfxtrading.com

Name: SaferHavenFx ltd

Address: 25 St. Cross Street, London, EC1N 8UN

Telephone: +16075957054

Email: support@cryptofxwave.com

Website: www.saferhavenfx.com

Name: Elite Capital Pro

Address: Selborne Road, Croydon, England

Website: www.elitecapitalpro.com

Name: Crypto Inner Circle

Address: 190/192 Sloane St, London, United Kingdom

Telephone: +447956604381

Email: support@cryptoinnercircle.org

Website: www.cryptoinnercircle.org

Name: Ominecoin Limited

Address: 381 Midsummer Boulevard, Acron House, Milton Keynes, United Kingdom, MK9 3HP

Email: info@ominecoinltd.com

Website: www.ominecoinltd.com

Name: Morgen & Charles

Address: Warwick Court, Paternoster Square, London, EC4M 7AG

Telephone: +12266397666, +442038343337

Email: support@morgencharles.com

Website: www.morgencharles.com

The FCA warned people not to invest with these brokers. However, if they do so, they must be aware of potential scams. FCA said these firms are targeting UK citizens. A firm or broker must have FCA authorization to sell, offer, or promote any financial services in the UK. But these mentioned brokers do not follow this rule. This is the reason why it is risky to invest with these unauthorised brokers.

FCA also advised customers to be careful, as some firms may give incorrect contact details, including postal addresses, telephone numbers, and email addresses. They may change these contact details over time. They may also give you details that belong to another business or individual, so the information looks genuine.

Install the WikiFX app on your smartphone to stay updated with similar latest news. WikiFX is a global forex broker regulatory inquiry 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.