The UK financial regulatory body has issued a couple of warnings against unauthorized firms providing broking services without authorization, with Tradeignition imposting as LCG when soliciting clients.
The U.K. financial regulator has been busy warning the public about the services of a duo of companies which are not regulated and do not have the permission to collect clients from the E.U. In addition, the Financial Conduct Authority (FCA) has warned the public against dealing with a clone company named Tradignition, which provides binary options services.
The entity behind the latter firm claims to be in partnership with FCA regulated publicly- traded broker, London Capital Group Holdings. Sales representatives of Tradignition have been telling clients that the company was in a partnership with the FCA licensed firm, LCG Capital.
Prospective customers of the firm were being informed that it was a regulated entity with Regulation information of London Capital Gorup Holdings being sent out to the clients for reassurance.
This fraudulent practice is commonly known as a “clone firm”. The unregulated entity under the name SkyOPtions, which is behind Tradignition, claims to be located in London, however, when contacted by Forex Magnates' reporters on the support phone on the website, the person representing the company shared in very poor English that the firm was not located in the U.K.
The representative denied to comment on the FCA warning against the firm.
In separate announcements, a couple of brokerages have been highlighted by the FCA as potential risks for clients from the U.K. Both GMT Markets and BlackBird Clear Limited have not been regulated by the FCA.
The U.K. watchdog has expressed its concerns that GMT Markets is actively soliciting clients from the region without being regulated in any E.U. country. The brokerage does not claim to be a regulated entity on its website.
In contrast, BlackBird Clear Limited has been claiming on its website that it is regulated by the Financial Services Authority (FSA), which is the former name of the U.K. financial regulatory agency. The duties of the FSA have been split between the Bank of England and the FCA since 2013.
The U.K. financial regulator has been busy warning the public about the services of a duo of companies which are not regulated and do not have the permission to collect clients from the E.U. In addition, the Financial Conduct Authority (FCA) has warned the public against dealing with a clone company named Tradignition, which provides binary options services.
The entity behind the latter firm claims to be in partnership with FCA regulated publicly- traded broker, London Capital Group Holdings. Sales representatives of Tradignition have been telling clients that the company was in a partnership with the FCA licensed firm, LCG Capital.
Prospective customers of the firm were being informed that it was a regulated entity with Regulation information of London Capital Gorup Holdings being sent out to the clients for reassurance.
This fraudulent practice is commonly known as a “clone firm”. The unregulated entity under the name SkyOPtions, which is behind Tradignition, claims to be located in London, however, when contacted by Forex Magnates' reporters on the support phone on the website, the person representing the company shared in very poor English that the firm was not located in the U.K.
The representative denied to comment on the FCA warning against the firm.
In separate announcements, a couple of brokerages have been highlighted by the FCA as potential risks for clients from the U.K. Both GMT Markets and BlackBird Clear Limited have not been regulated by the FCA.
The U.K. watchdog has expressed its concerns that GMT Markets is actively soliciting clients from the region without being regulated in any E.U. country. The brokerage does not claim to be a regulated entity on its website.
In contrast, BlackBird Clear Limited has been claiming on its website that it is regulated by the Financial Services Authority (FSA), which is the former name of the U.K. financial regulatory agency. The duties of the FSA have been split between the Bank of England and the FCA since 2013.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!