Unregulated Forex brokerage K2 Wall Street has been added to the warning list of the Financial Conduct Authority in the UK as an unauthorized financial services provider.
According to the official warning the firm does not hold the proper license by the FCA for providing financial services to British traders and is operating outside the law.
K2 Wall Street is supposedly owned and operated by the company K2 Wall Street Co Limited. We read on the brokerage’s website – k2wallstreet.com – that the company is licensed and “regulated” by the British financial regulator the FCA and even gives a phony reference number in order to make it more believable. The firm supposedly offers state-of-the-art trading tools and provides clients with access to a web-based trading platform with impressive spreads.
However, according to the official warning issued by the British financial watchdog – the information regarding the regulatory status of the brokerage presented on the website is divorced from reality and the firm is further suspected of being involved in investment scams.
The FCA has provided traders with a consumer helpline and urges anyone that has been “cold called” or targeted in any way by representatives of KZ Wall Street to reach them on 0800 111 6768. UK’s main financial regulator regularly updates its warning list and recommends traders always run a quick check on a brokerage on their online registry before investing funds with them.