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British supervision warns of new companies

British supervision warns of new companies

created Paweł MosionekSEPTEMBER 17, 2016

Forex clones are attacking. British institution dealing with financial market supervision in Great Britain - FCA (Financial Conduct Authority - has recently issued a series of warnings regarding companies offering their services to retail clients. The warnings apply to companies: Baxter International, Pearson Chase / Pearson & Chase / Pearson Jacobs and Brits Finance. The first two institutions operate on the British market (and it is possible that in other European markets also) by offering access to financial markets without appropriate licenses and permits. In the case of Brits Finance, the so-called clon, or a company that impersonates another and already regulated institution by FCA.

What are clone companies

Clones provide their false data in their entirety or mix it with partially real information about them using the reputation and license number of another entity, which is designed to mislead potential customers and thus extort from them deposits, which are likely to be impossible to recover or at least very heavy.

Links to official messages

  1. Baxter International
  2. Pearson Chase / Pearson & Chase / Pearson Jacobs
  3. Brits Finance
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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the ForexClub.pl website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.

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