The British Financial Conduct Authority has warned the public against six new unauthorized investment services.
Shore Capital Markets
Shore Capital Markets is a British investment company that is managing portfolios for clients all over the world. It is not focused on the UK market only.
The company claims to be located in London a to be working only with regulated brokers. The problem is that Shore Capital Markets is not authorized by the FCA to provide investment services, it doesn’t have the necessary license.
JMS Invest is a company that offer investment advice. It advises its clients where and how to invest in currencies, cryptocurrencies and commodities.
JMS Invest is headquartered in Stockholm, Sweden, and it also has an office in London, UK. It is why the FCA had a look at it and found out that JMS Invest is not authorized to provide the services it provides. It has no license whatsoever in any country.
FXLinked is a typical broker, it has more than 200 financial assets to trades: currencies, commodities and stocks. The minimum deposit with this broker is 10 dollars.
FXLinked is a British broker with offices in London. It means that it needs a license from the FCA in order to be allowed to function legally.
But it doesn’t have any license, FXLinked is unregulated, therefore it is breaking the laws and its clients are not protected.
RoFX (Robot Forex) is an automated trading software for Forex. It will trade currency pairs on autopilot. Supposedly you don’t need any experience or particular knowledge to make profits with this roobt.
RoFX claims that clients’ funds are insured even against potential losses that would occur as results from trading.
The company allegedly has offices in Great Britain, USA and Hong Kong. But it very probably is not true, because it is not regulated. The above-mentioned countries have not authorized for any kind of investment services or advice.
AEC Investments is a British investment company that offers bonds investing. It has several funds, while the minimum investment is 10 thousand pounds. The company claims to have thousands of satisfied clients, it even shows some testimonials and reviews on its website.
However, the testimonials are obviously fake since they contain stock photos. Moreover, AEC Investments has no authorization from the FCA to provide investment services, so it is breaking the laws.
Stone Lion Financial (SLF Markets)
Stone Lion Financial is a broker that offers currencies and commodities trading. It has two types of trading accounts with a minimum deposit of $200 and $10,000 respectively.
The broker says to be located in the United States, but it very probably is not true. Stone Lion Financial is not regulated in the US, UK or any other country in the world.
AEC Investments, Stone Lion Financial, Shore Capital Markets, JMS Invest, FXLinked and RoFX are unregulated investments services that the FCA has warned against.
For investing you should always use only regulated services that are supervised and that have legal obligations to act fairly and in the best interests of their clients.