FCA Regulated Forex Brokers
FCA is among the most respected authorities within the financial world that aims to protect consumers, enhance market integrity and promote healthy competition that ensured by the range of strictest demands and regulatory protocols to the licensed companies.
Recommended And Trusted FCA Regulated Brokers 2018
It has the power to revoke licenses, oversee marketing and promotional materials, audit company financials, and ensure that the consumers get a reasonable deal while dealing with financial companies. FCA also possess the power to suspend any firms for up to a year for any alleged fraudulent activities, and can even suspend licenses indefinitely if they deem fit.
Therefore, firms regulated under the FCA are expected to work in favour of their clients, and not against them. All trading brokerage houses operating in the UK are required by law to become regulated and licensed by the FCA. Therefore, FCA forex brokers are considered to be highly reliable due to the various laws outlined in the code of conduct that is prescribed by the Financial Services Act of The FCA is free to amend to these laws from time to time to safeguard the interests of the consumer.
FCA is the governing authority that oversees the functioning of a financial company and how it interacts with the end consumer. Their main priority is to protect consumers against all types of fraud and financial crimes. FCA guarantees that the market integrity is kept intact by auditing the conduct of all registered organizations and ensuring that the financial system in the UK is kept healthy and successful. FCA also promotes healthy competition in the market by allowing companies to attract consumers in the interest of fair and honest services.
FCA is a financial watchdog that wants the consumers to benefit from all the strong competition as a result of an open and transparent market. At the same time, FCA also reinforces its stringent rules by carefully analyzing the actions of its members and by ensuring that none of the companies take advantages of any loopholes in the system.
In short, FCA is only a regulatory agency, and it will not provide any mediation service or help in resolving a matter between consumers and FCA regulated brokers. FCA is a financial regulatory agency for all financial firms, including banks, trading brokers , mortgage lenders, insurance brokers, financial advisers, and even consumer credit firms.
Therefore, it becomes virtually impossible for the FCA to investigate into individual claims, as the FCA regulates the conduct of more than 56, financial companies in the UK. All FCA Forex brokers are required by the FCA to have a sound complaint resolution department that should look into all consumer complaints.
In the event of a consumer getting an unfair deal, the next logical step would be to contact the Financial Ombudsman Service with your claim. An additional address is attributed to an area in West London. However, upon further review, there is no real company located there. Furthermore, there is a whole list of negative reviews pertaining to SolidCFD.
This includes clients being unable to withdraw their funds, aggressive salesmen and not being able to log back into an account once a withdrawal request is made.
Registered in the Marshal Islands, the company supposedly has an office in North London. However, the address that is provided is used by a company that enables other companies to register their business under their address. This obviously implies that StratX has no workers at its given address. Just by merely glancing at a few of the reviews tells you that StratX Markets is operated by a bunch of con-artists. In fact what is more alarming, a number of former clients are claiming that StratX personnel are operating a fraudulent fund recovery company called Linrow Clarion Solvency that claims they can recover money that was lost to illegitimate brokers like Stratx Markets.
That is patently false. Additionally, although the website has a U. Not only Are there plenty of negative reviews about them, there is a dedicated Facebook page against them. Users of the website report an inability to withdraw funds, threatening salesmen, and pushy brokers who tempt traders into depositing more cash into their accounts.