Warning Issued by the Financial Conduct Authority against SRFX Trades

The Financial Conduct Authority has issued an intimation for the UK-based consumers about an online trading service provider. The service provider named SRFX Trades is offering financial services and securities to the locals in the United Kingdom without registration.

The firm is unregistered to operate in the United Kingdom, thus, any service it is offering is risky for the investors to interact with. Such firms are always on the lookout for finding the weak points of the investors to lure them.

Their only goal is to lure them and steal their money but to accomplish their goal, they first earn the trust of the public. For this purpose, such firms try and prove they are legalized and have the license to operate their services.

As a result, people end up trusting them with their funds and personal information only to find out that they became victim to a fraud. According to the regulatory authority, SRFX Trades is claiming it is a registered entity in the United Kingdom but in reality, it is just another one of the fraudulent firms.

Warning by the FCA

The Financial Conduct Authority has advised the investors not to interact with the platform at all. The website and its operators are running nothing more than a scam. Their attempts are only to steal the funds of the people from the United Kingdom.

Their services are unregulated, thus, they are risky and unprotected, and most importantly, have no coverage from the regulators in case a fraudulent activity is established.

The FCA Stamps SRFX Trades being unregulated

According to the FCA, SRFX Trades is an unregulated firm that is targeting innocent people and the investment community in the United Kingdom. It is making a false claim that it is registered to offer financial services and reach out to the locals of the United Kingdom.

The FCA, which is responsible for issuing licenses to the financial service providing entities in the United Kingdom, has confirmed that SRFX Trades is misleading the investors.

The FCA has revealed that SRFX Trades is not at all authorized or permitted to provide its services to the locals. This is because the firm has never once approached the FCA to acquire any kind of financial services offering license.

No Coverage or Protection from the Regulatory Authorities

The regulatory authority has made it crystal clear to the entire investment community that they must not interact with SRFX Trades.

The reason behind such intimation is the explanation and the doubts the FCA has against the firm. The firm is unregistered, which poses a great threat to the investors in terms of their financial data, funds, and personal information.

The FCA has intimated that if the investors keep interacting with the firm even after knowing its true identity, then only they will be accountable for their actions. The regulatory authorities will hold no liability for the funds lost to an unregistered entity.

If a regulated entity ends up defrauding and stealing away the funds of people, they are protected by the regulators. It is the Financial Services Compensation Scheme as well as the Financial Ombudsman Service that protects the interests of the investors.

This way, the investors are able to recover their funds but the condition is that the firm that stole the money must be regulated. In case of SRFX Trades, these coverages or protections fail as it is unregulated and unprotected.

Information about SRFX Trades

The website for SRFX Trades is https://srfxtrades.com/ and the support email it has provided is [email protected]. The physical address provided by the firm is 130 Old Street, London, England, EC1V 9BD.

The Financial Conduct Authority has also added in the warning that the investors must not rely on the contact information provided by the website. It is highly likely that such information may be false or incorrect and may change at any time.