FCA alerts investors of Plus500 clone firm

Discussion in 'Forex Brokers' started by mlawson71, May 11, 2018.

  1. mlawson71

    mlawson71

    The UK Financial Conduct Authority (FCA) has warned on Tuesday that Plus 500 Pro is a clone of the renown forex brokerage Plus500,which holds a license from FCA, among others. According to FCA, Plus 500 Pro is not authorized to carry out regulated financial services in the UK.

    While the fraudulent broker does not explicitly state that it is regulated by the FCA, there are claims that its clients would be covered by UK’s Financial Services Compensation Sceme (FSCS). The scheme, of course, is only applicable to clients of entities which are indeed licensed by the Financial Conduct Authority.
     
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