FCA Issued a list of unlicensed brokers on 11 April 2023

One of the best financial regulators in the world, FCA issued a list of blacklisted forex brokers On 11 April 2023. The list includes these unlicensed brokers: Alphabitchain.org, FASTCOINWORLD.COM, and EPIC-GROWTH INVESTMENT COMPANY.

FCA warned investors not to invest with these brokers. However, they must be careful if they do, as these brokers lack broker licenses. Therefore, the risk may exist. They offer financial and investment services to clients without a license in the UK. They are accused of engaging in some illegal activities by the FCA. A firm or broker must have FCA authorization to sell, offer, or promote any financial services in the UK. These brokers, however, do not adhere to this rule.

Financial Conduct Authority (FCA) is a regulatory body in the UK that oversees financial markets and ensures that financial institutions operate in a fair and transparent manner. The FCA's main role is to protect consumers by regulating financial products and services, promoting competition, and ensuring that financial firms are financially stable. The FCA also has the power to investigate and take enforcement action against firms that breach its rules and regulations. Overall, the FCA plays a crucial role in maintaining the integrity of the UK's financial system and protecting consumers from financial harm.

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