FCA Flags 7 Unauthorized Firms: Warning on Investor Risks

The UKs Financial Conduct Authority (FCA) has issued a warning about seven unlicensed financial websites that may be offering or promoting financial services without proper authorization. The regulator urges investors to avoid dealing with these firms as they do not have the necessary FCA license, leaving consumers unprotected in case of disputes or financial losses.

FCA has flagged the following 7 firms as unauthorized and potentially deceptive:

1. Name: FX Solaris (clone of an FCA authorised firm)

Website: https://fxsolaris.com

2. Name: FCCAir (clone of an FCA authorised firm)

Telephone: +35795738777

Email: info@fccair.com

Website: https://www.fccair.com

3. Name: THESWIFTCHAIN / THE SWIFT CHAIN

Address: 8 GALLEYWAY, LONDON, UNITED KINGDOM

Email: support@denexacore.com

Website: www.theswiftchain.pro

4. Name: PERFECTINVESTCOMPANY

Address: A108 Adam Street, New York, UNITED STATES OF AMERICA, NY 535022

Telephone: +155895548855

Website: www.perfectinvestcompany.com

5. Name: FXCRYPTOMINEXPLORE

Email: support@fxcryptominexplore.com

Website: www.fxcryptominexplore.com

6. Name: UK Housing Disrepair Claims / www.ukhousingdisrepairclaims.co.uk

Address: Suite 15, Holker Business Centre, Burnley Road, Colne, UNITED KINGDOM, BB18 8EG

Website: www.ukhousingdisrepairclaims.co.uk

7. Name: Bittrademiner

Address: 8 Galleyway, London, UNITED KINGDOM

Email: support@bittrademiner.com

Website: www.bittrademiner.com

These firms may provide incorrect contact details, change their information over time, or even use details that belong to legitimate businesses or individuals to appear credible.

What is the FCA?

The Financial Conduct Authority (FCA) is the regulatory body overseeing financial services in the UK. Its primary role is to ensure that financial firms operate fairly, transparently, and in compliance with strict regulations to protect consumers and maintain market integrity.

What Happens If an FCA-Regulated Firm Collapses?

One of the key protections for investors dealing with FCA-authorized firms is the Financial Services Compensation Scheme (FSCS). If a regulated firm collapses, investors may be eligible for compensation:

• Up to £85,000 per person for lost deposits from a failed financial institution.

• Compensation for investment losses if the firm engaged in fraudulent or improper conduct.

• Faster resolution and potential recovery of funds through the FCAs intervention.