The UK financial markets regulator, Financial Conduct Authority (FCA) has issued a new warning to market participants highlighting unauthorized firms known to have been soliciting customers in the UK jurisdiction. In the new warnings, the FCA points out that several unauthorized firms are actually clones of FCA authorized companies, which makes it difficult for unsuspecting customers to know or see the difference.
As reported previously by Cyprus regulators, financial scams are becoming more sophisticated in hiding their true corporate details and contacts, including addresses and telephone numbers in order to appear as a legitimate authorized firm providing trading or investment services. In the case of the FCA warning, two companies listed below were found to be complete clones of actual authorized firms.
Traders should always double check the information provided to them by broker representatives, especially if they have been solicited without any interest in trading or investing or prior contact with the broker or its representatives. Please take note of the information regarding newly discovered unauthorized trading firms in the UK:
TL Financial Consultancy (clone of FCA authorised firm)
Website: https://www.tlfinancial.co.uk/; http://www.tl-financial.com/
Hiroseoption (clone of FCA authorised firm)