UK's FCA Warns Public that Explore Markets Ltd is not Authorised

The United Kingdom financial markets watchdog, the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term), today put out a warning against the online brokerage Explore Markets Ltd., aka Explore Corp Limited, and its additional alias EM Financial Services Limited, citing its website exploremarkets.com, and warning UK investors that the firm is not authorised to provide services in the UK.

A visit to the brokers website reveals that the company has a UK entity with a company house registration number, along with an entity that is registered in St. Vincent and the Grenadines, and depicts a MetaTrader 4 (MT4) MetaTrader 4 (MT4) MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists Read this Term) offering.

One of the things that seems to make this broker look like a scam is that on its website under the section where it says ‘your trusted broker’ the company says that it is FCA registered and provides investors with compensation under the UK’s FSCS scheme. That is false - the FCA confirmed today that the firm lacks such authorisation and related benefits that only duly registered firms are entitled to.

The FCA warned that the company is targeting investors in the UK, and provided that the misinformation on the Explore Markets website highlights a potential scam, international investors should be just as wary investing with a company that makes such false claims as it can be a hint of such danger.