26 May AtoZForex, Vilnius — Over recently, the Financial Conduct Authority (FCA) gave an official warning against TRD Brokers group. According to the regulator, the broker is registered in London; however it is not authorized to provide any financial services.
Details of the warning against TRD Brokers Group
The firm claims to be a global investment company focusing on investment in international markets and trading. The website of the company offers a list of its services which includes stocks, CFDs, futures and other derivatives.
| TRD Brokers/TRD Futures Group | |
| Web-address #1 | http://trdbrokers.net/contact/ |
| Web-address #1 | http://trdfutures.com/en/ |
| Physical Address #1 | 90 Long Acre, Covent Garden, London, WC2E 9RZ, United Kingdom. |
| Physical Adress #2 | Testovskaya street no. 10, Moscow, Russian Federation |
Almost any company promoting/offering/selling financial services or products within the UK is required to attain authorization from the FCA. However, this is not the case for the TRD Brokers/TRD Futures Group. The firm was conducting its activity in the UK without aforementioned authorization.
Why is FCA authorization important?
Financial Conduct Authority has the responsibility to regulate entities providing financial services to consumers. The activity of the FCA is aimed at maintaining the UK's financial market. The watchdog issues warnings whenever it finds out the companies that have no permission to solicit potential clients. In the warning against TRD Brokers Group, the FCA cautioned the public to refrain from dealing with this broker.
As the international market is experiencing an increase of Forex frauds, it is strongly advised to deal only with companies with an adequate license/permission to financial services within the area. If potential investors are committing money with an entity, who lacks authorization, his/her losses will not be covered by any compensations schemes.
Think we missed something? Let us know down in the comments section.