TBBOB United Kingdom’s Financial Conduct Authority has published warnings against more brokers.
A.B. Capitals
A.B. Capitals offers cryptocurrency trading, but it is indirect trading. It means that whenever your buy a cryptocurrency, you do not own it, you are not the real owner.
A.B. Capitals therefore is not an exchange, it is a broker that needs an authorization from a regulator. The broker doesn’t say where it is located, which already is suspicious, but according to its British phone number it is located in the UK.
Which means that A.B. Capitals needs a license from the FCA, but it doesn’t have it, it is not regulated.
Any1Profit
Any1Profit offers trading with more than a thousand assets, such as stocks, commodities and currencies. The broker has five different types of accounts, while the minimum deposit is 500 dollars.
Any1Profit says it has offices in the UK, Sweden and Bulgaria. The problem is that is not regulated in any country, it is not authorized to provide investment services. This is why it was placed on the blacklist by the FCA.
Ibex Prime
Ibex Prime offers trading with cryptocurrencies, you will find more than 200 of them in its portfolio. In this case again it is indirect trading via contracts for difference, which means that Ibex Prime is a broker.
The broker is based in Bulgaria and has no license to offer investment services. Since it is an unregulated service targeting UK residents, the FCA has published a warning against it.
Absolute Global Markets
AGMarket or Absolute Global Markets is a typical broker that offers trading with currencies, stocks and commodities through CFDs. Its offering consists of several trading accounts with a minimum deposit of 250 dollars.
AG Market is based in Saint Vincent and the Grenadines, which almost automatically means that it is not regulated. Indeed, it has no license to offer its services in most countries, and since it is doing so, the FCA has warned against it.
Alter Capital
Alter Capital is an investment company that is investing in cryptocurrencies and other blockchain projects, allegedly. The company says it has automated trading strategies which clients can use to make money.
The problem is that Alter Capital is based in the UK but has no license from the Financial Conduct Authority. Therefore, it is better to avoid it.
Aman Investment Group
Aman Investment Group allows its clients trading with more than 250 different assets, like currencies, stocks and commodities. The minimum deposit for a real account is 250 dollars.
Aman Investment Group obviously is a scam broker, because it claims to be regulated by the CySEC and ASIC, which is not true. The FCA has confirmed that it is an unregulated broker that is breaking the laws.
Prestige Asset
Prestige Asset is an investment company, but like all the others in this review it is offering its services to UK residents without being licensed, it is not regulated. Therefore, it has earned a place on the blacklist of the FCA.
Summary
A.B. Capitals, Any1Profit, Ibex Prime, Absolute Global Markets, Alter Capital, Prestige Asset and Aman Investment Group are unregulated investment services that the Financial Conduct Authority has warned against.
For trading we recommend using regulated brokers.
