Watch out the list of these "Red Flag" brokers

A red flag is basically a slang term for a warning or a sign of trouble ahead. It is often used to describe something that might indicate a problem or a risk in a situation. Same like this, On 17 July 2023, Financial Conduct Authority (FCA) exposed five Unauthorised Brokers which are “Red Flags” and targeting people in the UK. The names of these brokers are GLOBA GIANT ASSET / GLOBAGIANTASSET, UNIVERSALCRYPTOMINERS, SWIFTECFX, ELITECRYPTOTRADE24, GlobalFXMiningHub.

Name: GLOBA GIANT ASSET / GLOBAGIANTASSET

Address: Kilsby Rd, Barby, Northampton, UNITED KINGDOM, CV23 8BQ

Mobile: +447341045620, +447508532129

Email: support@globagiantasset.com,

support@globagiantasset.org

Website: www.globagiantasset.com, www.globagiantasset.org

Name: UNIVERSALCRYPTOMINERS

Address: Sydney 2000, New South Wales, AUSTRALIA

Email: support@universalcryptominers.net,

admin@universalcryptominers.net

Website: www.universalcryptominers.net

Name: SWIFTECFX

Address: 51 Newark Road, Peterborough, UNITED KINGDOM

Telephone: +447500235556

Email: support@swiftecfx.com

Website: www.swiftecfx.com

Name: ELITECRYPTOTRADE24

Address: London, UNITED KINGDOM, SE1 9PG

Email: support@elitecryptotrade247.com

Website: https://elitecryptotrade247.com

Name: GlobalFXMiningHub

Address: 3 Middlesex St, London, UNITED KINGDOM, E1 7AA

Email: support@globalfxmininghub.com

Website: www.globalfxmininghub.com

FCA stated while exposing these unauthorised brokers that Almost all firms and individuals must be authorised by us if they offer, promote or sell financial products or services in the UK. But these firms are not authorised by us and are targeting people in the UK.

The FCA has advised investors to avoid these brokers and to report any suspicious activity to the authorities. FCA has also reminded investors to be vigilant when dealing with forex brokers and to conduct proper due diligence before investing any money. Investors should check the FCA's register of authorized firms to ensure that the broker they are dealing with is legitimate.

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