The British financial watchdog, the Financial Conduct Authority (FCA), has issued a warning against the Estonia based GoldTech Media Services OU – the company behind Glenmore Investments and S2Trade.
FCA says Glenmore Investments is providing financial services in the UK without authorization. The financial authority reminds all traders, that “almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by FCA” and warns that dealing with unregulated companies is associated with an imminent risk of loosing your money to scammers.
“Some firms act without our authorisation and some knowingly run investment scams”, the British regulator says in the warning, published on its website. “This firm ( GoldTech Media Services OU) is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”
FCA also advises all traders in the UK to check the financial companies, they are dealing with, in the Financial Services Register to ensure they hold a proper license.
We should also note, that after checking the registers of the Estonian Financial Supervision Authority – the Finantsinspektsioon, we were not able to find GoldTech Media Services OU or Glenmore Investments there, so basically the broker and the company behind it are unregulated and do not have a license to operate in EU countries as well and most probably are involved in scam.
Remember that with scam brokers you will not be able to withdraw any of your funds. In the unfortunate that you do loose money to scammers, our advise is to file for a charge back with your credit card provider immediately.