UK’s FCA warns against Marshall Islands-based shady brokerage RI Markets

UK’s FCA warns against Marshall Islands-based shady brokerage RI Markets

RI Markets is yet another unregulated Forex brokerage that 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 the firm does not hold the proper license by the FCA for providing financial services to British traders and is operating outside the law.

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 RI Markets. 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 RI Markets 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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3 Comments

  1. Graham Owens-John

    Have you heard anything about ForexBit, i have started something with them but am not sure whether I should, or get out now as I’m not sure about them.

  2. Well, I think not only RI Markets Firm operate and promote an online Deceptive Marketing Practices, to many of them uses the island for their illicit trades.
    The B A must to sanitized Marshall Island at once.

    A firm had used the same place for their fraudulent activities; TradoSpot is a unregulated forex and CFD broker, operated by an Estonian company and a company registered on the Marshal Islands

  3. what of samtrade in vanuatu? Tell all

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