FCA warns against CFsum, ProCapitalMarkets, Time4actions, Ellis and Burlington and Rockwell Investment Management

British Financial Conduct Authority (FCA) has published new warnings about companies offering financial services without necessary authorizations.

CFsum

CFsum brokerCFsum is a broker that is offering trading with currencies, stocks and commodities. The minimum deposit to open a real trading account is 250 dollars.

CFsum is run by a company named Bestfolio Consulting from Estonia. The broker does not have any license that would allow it to offer investment services in regulated countries. Since it is offering its services to UK’s residents, the FCA has put it on its blacklist.

ProCapitalMarkets

Pro Capital Markets brokerPro Capital Markets is a broker that will allow you to trade Forex, stocks and commodities. We could not find what the minimum deposit to open a real account is.

ProCapitalMarkets is located in Saint Vincent and the Grenadines and it is not regulated. Despite the lack of a license it is soliciting residents of Great Britain, therefore breaking the laws. This is why the FCA has warned against it.

Time4actions

Time4actionsTime4actions is a company that says that it will help victims of internet scams. It focuses on scam brokers.

The company wants people to pay fees upfront, 5 to 10 % of the lost amount, the minimum seems to be around 1000 dollars. Time4actions says it is based in the Czech Republic, but the phone number leads to Israel.

According to the FCA Time4actions is offering its services in the UK without the necessary authorization, this is why it has been blacklisted.

Ellis and Burlington

Ellis and BurlingtonEllis and Burlington is a company similar to the one mentioned above, it also offer money recovery to victims of online scams. It does not say how much it charges for its services.

Ellis and Burlington is headquartered in Israel and it also offers its services in the UK and Australia. The regulator FCA has stated that this company is not authorized to provide the services it is offering.

Rockwell Investment Management

Rockwell Investment ManagementRockwell Investment Management is an investment company that is managing investment for private investors, trusts and charities. Allegedly. It is investing mainly in securities.

The company is located in Great Britain, but it is not authorized by the FCA. This is why it was blacklisted.

Sumary

CFsum, ProCapitalMarkets, Time4action, Ellis and Burlington and Rockwell Investment Management were blacklisted by the Financial Conduct Authority from Britain for offering financial services without the necessary authorizations.

For investing we recommend using only regulated companies and brokers.

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