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The U.K. Financial Conduct Authority (FCA) has flagged two companies which are offering forex and CFDs trading as unauthorized operations. Both Banco FX and CFD1000 have been providing investment services to clients without the appropriate authorization.
The firms claim to be operating from the U.K., but Banco FX listing as its regulator the Saint Vincent and Grenadines financial authority. At the same time, CFD1000 claims to be headquartered in London, but isn’t listing any regulatory bodies on its website.
Mysterious list of awards on both websites with questionable origins and value are mentioned. The firms appear to be targeting investors from the United Kingdom and emerging ... (read more)