The Financial Conduct Authority Issues a Warning against Net-TradersFx

The financial regulatory authority of the United Kingdom, the Financial Conduct Authority has issued a warning against Net-TradersFx. The Financial Conduct Authority has announced that Net-TradersFx is involved in promoting and publicizing its services/products with authorization.

The Financial Conduct Authority of the United Kingdom has announced that Net-TradersFx is involved in offering illegal services as it is not authorized to operate in the United Kingdom.

The firm is unregistered so it is not authorized to promote, offer, or even sell financial securities or services to the citizens of the United Kingdom. The firm is offering services that are unsafe, unprotected, and fully of risks.

The FCA has a strong doubt that the firm is involved in offering unregistered services. Therefore, if the UK locals end up losing money to them, they will not be able to recover them. Most importantly, none of the regulatory bodies will be able to help the investors if they lose month to the potential fraudster.

Warning

The Financial Conduct Authority has alerted the entire investment community in the United Kingdom that Net-TradersFx may be involved in running a scam.

According to the FCA, Net-TradersFx is not authorized to offer financial products, services, and securities to the residents of the United Kingdom. The platform is doing it without any authorization, meaning it poses a great risk towards the interest of the investors.

The firm may be involved in offering unsafe securities to the investors that may be aimed at luring people and getting money out of their pockets. The firm wants the investors to trade in multiple online trading assets.

For the particular reason, the firm requires the investors to make deposits and perform trades in order to withdraw their funds. It is highly likely that the firm may not allow the investors to withdraw their funds once they have invested the money into it.

The FCA has notified the entire investment community wanting to interact with the trading platform to deal with it with caution. The investors are putting their savings and personal information at a great risk by investing through the firm.

Net-TradersFx is an Unregistered Entity

For Net-TradersFx to offer its services in the United Kingdom, it is extremely important that it must register itself to operate in the country. The FCA is the only regulatory authority in the United Kingdom that grants license to firms wanting to offer financial services, securities, and products to the UK residents.

The online trading service provider is unregistered in the United Kingdom so it is unregulated and dealing with it is extremely unsafe. The investors must avoid interacting with it at all costs to save themselves from the losing of their money and hard-earned life savings.

Possibility of Losing Funds

The FCA has cautioned if the investors keep depositing money into the firm, they may end up losing their funds. The regulator is worried about the financial situation of the investors.

If the investors end up depositing money into the firm, they may end up losing it and they will have no way of recovering the funds. According to the regulator, the investors will have no coverage or protection through the FSCS or through the Financial Ombudsman Service.

Information about Net-TradersFx

The website to access Net-TradersFx is www.net-tradersx.org and its email address is [email protected]. The telephone number provided on Net-TradersFx’s website is 1405000 and the physical address it claims to be at is Irvington, Carlisle, CA6 4NW.

The US address Net-TradersFx claims to be located at is 9030 Metropolitan Avenue, Queens, USA, NY11374.

The firm claims that it offers trading and investment services in CFDs, Cryptocurrencies, Stocks/ETFs, and many more. The firm falsely claims that it is regulated and offers more than 100 instruments for trading.

Once again, the FCA has advised that the investors must draw their distance from the firm and do not get lured by it.