Abstract：The FCA warns against 11 unauthorized firms, including two clone scams impersonating licensed providers. Learn how to verify and protect your funds through trusted platforms.
The UKs Financial Conduct Authority (FCA) has flagged another round of unlicensed financial service providers this week, warning the public to remain cautious when dealing with firms not listed on the official FCA Register. The list includes a mix of unauthorized trading websites and cloned entities falsely posing as licensed firms.
Unlicensed Firms Operating Without FCA Approval
Among the newly listed unauthorized firms are:
- EdealFX (edealfx.net)
- SyndariTrader (syndaritraderapp.net)
- BlitzTradePoint (blitztradepoint.net)
- Wealtstream (wealtstream.com)
- Trade Alora 3000 (tradealora3000.net, trade-alora-3000.net)
- GenixWeb (genixwebltd.com)
- TOKENHEDG (tokenhedg.com)
- InvestarioX (investariox.net)
- Trade 350 App (trade350app.net)
These platforms are not authorised to offer financial services in the UK. While some may appear professional or list UK-based addresses, the FCA emphasizes that they are operating without oversight and may present heightened risks to users funds and personal data.
Two Clone Scams Impersonating Real FCA-Registered Firms
More concerning are the cases of cloned entities that mimic the branding and contact details of legitimate UK-regulated firms to mislead users:
- Recovery Office Limited
- Fraudsters have set up recovery-office.com and recoveryoffice.co.uk, impersonating Financial Recovery Solutions Ltd (FRN: 836358). These fake sites have no connection to the genuine firm, yet use real addresses and phone numbers to gain user trust.
- Stockport Credit Wallet
- The fraudulent domain stockcreditwallet.com falsely claims association with Stockport Credit Union Limited (FRN: 213305). The clone uses multiple international phone numbers and emails to appear legitimate.
The FCA warns that such impersonations are part of an increasingly sophisticated trend where fraudsters mirror trusted brands to gain access to consumers money or identity.
What Investors Can Do
To stay informed and reduce exposure to risks:
- Always verify firms on WikiFX.
- Cross-check websites and emails before opening accounts or making payments.
- Use platforms like WikiFX to research trading platforms, firm ratings, and license information.
Staying alert can make all the difference when navigating the financial landscape online.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
