Warning against RI Markets, LV Grow Markets, Wealth Capital and MyCoinBanking

Last week UK‘s Financial Conduct Authority (FCA) has placed more unauthorized investment services on its blacklist.

RI Markets

RI MarketsRI Markets uses the platform Metatrader to let its clients trade Forex, stocks and commodities. There are three different types of trading accounts with different conditions, but we could not find what the minimum deposit is.

The main problem of RI Markets is that it is no regulated. Despite this fact it is offering its services in regulated countries like in Great Britain or Australia, which has earned it a place on the blacklist of the FCA.

LV Grow Markets

LV Grow MarketsLV Grow Markets offers investment services and advice. With this broker you can trade stocks, commodities and currencies. You will get a personal manager who will give you trading strategies and advice on how to trade.

But the broker has no authorization to provide this kind of services. LV Grow Markets does not even provide its address, it is not regulated. Since it is soliciting residents of the United Kingdom, among others obviously, the regulator has warned the public against it.

Wealth Capital

Wealth CapitalWealth Capital is a broker that you can trade currencies, cryptocurrencies, stocks, commodities and cryptocurrencies with. It has a high minimum deposit of $5000, which is several times higher than the average in this industry.

The first problem is that the broker is showing some awards that it has not won. The second problem is that it is an anonymous broker that is not regulated, WealthCapital.fm is not authorized to provide investment services.

MyCoinBanking

My Coin BankingWith My Coin Banking you can trade cryptocurrencies, currencies, stocks and commodities. The minimum deposit is not disclosed, however the minimum withdrawal amount is $500, so we expect the minimum deposit not to be lower.

The reason why MyCoinBanking has been placed on the blacklist of the FCA is that it is an unregulated broker who is offering its services to people living in the UK, therefore breaking the laws. The broker allegedly is located in Saint Vincent and the Grenadines.

Summary

RI Markets, LV Grow Markets, Wealth Capital and MyCoinBanking are unauthorized brokers that have been placed on the blacklist of the Financial Conduct Authority. You should avoid them.

For financial trading you should use only regulated brokers, so that you and your capital are protected.

Please share this review to help inform other people.

Comments 4

  • Hi and thanks for info
    I joinef mycoinbanking on 28th November 2019 for initial deposit of $250 for managed auto trading and startef to see good profits so put in additional payments now upto £1500
    Which is showing approx of £60 daily
    Profit
    One of the reasons i felt confidence in them was that their parent company was Mycryptowallet a registered and well respected company based in Australia
    Being new to this form of investment didn’t realise at the time that even spread betting companies need to be regulated
    I have noticed that that the FCA and yourselves are only accusing Mycoinbanking of being not regulated but not of scamming
    i would really like your views on this as i am a 74 Yr with limited funds and had high hopes of achieving extra financial gains for a more comfortable future
    Regards
    Fred Bilby

    • Sorry, but your comment sounds like a marketing pitch from that company. When a broker is not regulated and is serving residents of countries that require a license, it is breaking the laws of those countries. What do you expect from a broker that doesn’t respect laws?
      Also, with unregulated brokers your money is not protected in any way, unlike with regulated brokers where your money is insured.
      One quick note, if you see regular daily profits from autotraders, they are fake and you won’t be able to withdraw them.

    • Please stop telling lies to people to belive you;;You idiot who work for them or you are one of them:::

  • Português. Eu investi cerca de 177.000€ no mycoinbanking e a seguir ao Natal bloquearam o e-mail de acesso à gestora e a minha conta corrente. O que devo fazer para tentar localizar esta empresa e quais os passos que posso dar para tentar recuperar o meu investimento e lucros? Meus endereços são: e-mail: [email protected] e telemóvel 966083712 (Portugal). Obrigada

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