The Financial Conduct Authority has issued scam warnings on two unauthorised firms Opqualitysignals360 and 4XLimited.
The warnings were issued to investors today (29 June) as part of the regulator’s clampdown on rogue firms.
It said these firms are “not authorised by us and [are] targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong”.
The firms are registered in London and Southampton.
Opqualitysignals360, with a registered address at 71 Cherry Court, Southampton, SO535PD, claimed to have “helped two million customers achieve their financial goals by helping them trade and invest with ease”.
The platform said it trades stocks and bitcoins and had a testimonial page with glowing reviews from some of its customers.
4XLimited, with a registered address at 9178 Green Lane, London, NW185AJ, claimed to be “authorised and registered by the key component authorities and regulators”.
The firm said it offers investors with “four types of trading accounts to suit the different need and risk tolerances of traders”.
It also said that its platform had over 50,000 users and processed over 75,000 transactions a day.
The FCA said it believed these firms which are targeting UK investors might be operating outside the country.
It warned investors to be “aware that some firms may give out other details or…
