FCA Flags Tradixa and Bitcoinmarketscap as Unauthorized

As we approach the end of the working week, the Financial Conduct Authority (FCA) remains vigilant in its fight against potential scams in the finance industry, with the regulator updating its warning list this Friday.

In particular, the UK authority has added two new entities onto its warning list today - Tradixa and Bitcoinmarketscap, which the regulator believes are both offering financial services without authorization in the United Kingdom.

FCA: These firms aren’t authorized in the UK

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us,” the FCA explained.

“However, some firms act without our authorisation and some knowingly run investment scams. This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

The British watchdog has provided the following details as belonging to Tradixa this Friday:

Telephone: +44-2038-079-312

Email: support@tradixa.com

Website: https://www.tradixa.com

And for Bitcoinmarketscap the details are:

Address: Floor 8 Devonshire House 1 Mayfair Place, London, England W1J 8AJ, United Kingdom

Telephone: (44) 208 089 0716; +44-2038088425; 02034985374; 0203 895 2955; 0203 695 3215

Email: support@bitcoinmarketscap.com; daniel.g@bitcoinmarketscap.com; Ken.m@bitcoinmarketscap.com; Kyle.a@bitcoinmarketscap.com; adam.r@bitcoinmarketscap.com; alex.g@bitcoinmarketscap.com; Charles.b@bitcoinmarketscap.com; Bejamin.s@bitcoinmarketscap.com

Website: https://bitcoinmarketscap.com

Taking a look at its website, Tradixa claims to be an online trading provider, offering a range of assets such as foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term), commodities, stocks, and indices. Bitcoinmarketscap has a similar offering, but in addition to foreign exchange, the flagged entity also states that it offers cryptocurrency trading via contracts for differences (CFDs).

On the Bitcoinmarketscap website, it says that: “BitcoinMarketsCap is a robust online Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Our mission is to keep our offer and trading conditions simple and transparent.”