Financial Conduct Authority Warns of Unauthorized Broker OMC Markets

The prevalence of scams continues to be a problem for the European Forex market with the Financial Conduct Authority (FCA) announcing that is has added yet another broker to its Warning List. This time, the broker in question is OMC Markets which looks to be registered as a company in Bulgaria. According to the statement from the regulator, this company is not authorised by the FCA and it is offering services, which it believes fall under its authority, to people of the United Kingdom.

The regulator noted that “almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us. However, some firms act without our authorisation and some knowingly run investment scams. This firm is not authorised by us and is targeting people in the UK.”