Unregulated Forex brokerage Hope Area Broker Limited is the latest addition to the long warning list of the Financial Conduct Authority in the UK. The firm has been recognized as an unauthorized financial services provider.
According to the official warning posted on Monday the firm does not hold the proper license by the FCA for providing financial services to British traders and is operating outside the law.
“Hope Area” is supposedly owned and operated by a company with an UK address registered under the name Hope Area Broker Limited. The brokerage even falsely states that it is regulated by the Financial Conduct Authority which means it is purposefully presenting misleading information.
On the official warning issued by the Financial Conduct Authority we read that the British authorities suspect the brokerage of knowingly participating in investment scams. Traders are warned not to contract the services of Hope Area Broker Limited.
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 Hope Area Broker Limited 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.