Unregulated Forex brokerage 10 Capital has been added 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 Thursday the firm does not hold the proper license by the FCA for providing financial services to British traders and is operating outside the law.
10 Capital does not provide much corporate information on its website but operates through the domain – www.10-capital.com – but it does give an UK contact address which leads us to conclude it is registered there. We remind readers that all Forex brokerages active in the UK have to be licensed by the Financial Conduct Authority or are otherwise operating illegally.
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 10 Capital.
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 10 Capital 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.