The FCA Warns against TraderVC’s Illegitimate Operation

The Financial Conduct (FCA), the United Kingdom’s regulatory authority, has issued a warning that the firm TraderVC is offering financial advice and Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term services despite its lack of authorization. The 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 and CFDs brokerage’s actions are in breach of UK law.

The London Summit 2017 is coming, get involved!

[gptAdvertisement]

According to the statement, TraderVC is an online trading company which claims two office locations, one being in London, England and the other in Sofia, Bulgaria. Because the firm is unregistered, the British regulatory body strongly advises against trading or investing funds with it. This stems from unauthorized operations raising added concerns of brokers being involved with or running a scam under the guise of a legitimate online investing environment.

Recent Warnings against Unauthorized Brokerages

The FCA has waged war on unregistered online trading firms and clone companies, and the number of brokers on its blacklist continues to grow. Yesterday, the British regulator alerted traders to a clone company identifying as OneTrade, a firm that has been authorized to offer services in the United Kingdom. The registered broker was likely targeted by the copycat company due to its FCA license.

There was also the incident involving Market Capital Limited, which trades as FX Markets Capital. The forex brokerage has apparently offered online trading and other financial services without being authorized by the FCA. Soliciting services of this nature within the United Kingdom in this way is landing brokers on the FCA’s ever-growing warning list.