The latest potential broker frauds capturing the UK FCA’s attention is that of a company calling itself NetCFD/Centaure Capital Partners and also FXNTrade. The FCA believes these firms have been providing financial services or products in the UK without authorisation. Nowhere on the NetCFD and FXNTrade company websites does it mention anything about regulation, which should ring the alarm bells of potential traders. They also have similar website designs, so these unauthorized providers are most likely are coming from the same people.
As a reminder, almost all firms and individuals offering, promoting or selling financial services or products within the UK have to be authorised by the FCA. However, some firms act without authorisation and some knowingly run scams and try to use prominent company addresses to mask their true whereabouts and lack of any real regulation.
The following firm is not authorised by the FCA but has been targeting people in the UK:
NetCFD / Centaure Capital Partners
Address: 43 Berkeley Square Suite 4B, Mayfair, London, W1J 5FJ
Tel: 02037347641
Website: https://www.netcfd.com
Email: [email protected]
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FXNTrade
Address: 25 Canada Square, Canary Wharf, London, E14 5NR
Tel: 02037342479
Website: https://fxntrade.com
How to protect yourself
The FCA strongly advises you to only deal with financial firms that are authorised by them, check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by the FCA.
If a firm does not appear on the Register but claims it does, contact their Consumer Helpline on 0800 111 6768.
There are more steps you should take to protect yourself from unauthorised firms.
You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.
Report an unauthorised firm
If you think you have been approached by an unauthorised firm or contacted about a scam, you should contact the FCA Consumer Helpline on 0800 111 6768. If you were offered, bought or sold shares, you can use its share fraud reporting form.
You can see more ways to report an unauthorised firm and find out what to do if you have been scammed.
To see the official press release, click here.