Clone firm IPO-DEX falls under the radar of UK’s FCA

Clone firm IPO-DEX falls under the radar of UK’s FCA

According to the official warning posted on Wednesday the firm does not hold the proper license by the FCA for providing financial services to British traders and is operating outside the law.

The firm is apparently a clone of FCA-registered Capital International Emerging Markets Fund with a reference number 478779. More often than not scammers choose to present themselves in such a manner to mislead uninformed traders.

On the official warning issued by the Financial Conduct Authority we further read that the British authorities suspect the brokerage of knowingly participating in investment scams. Traders are warned not to contract the services of Europe Trade FX. Furthermore, we urge readers to only contract the services of regulated and legitimate brokerages which abide by the many rules set out by the ESMA guidelines which include the segregation of accounts and the participation in a financial compensatory scheme.

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 IPO-DEX 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.

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