FCA issued warning against two "UNLICENSED BROKERS”

FCA recently issued a warning against two unlicensed brokers on 24 April,2023. The regulatory body has identified these brokers operating without the required authorization. This means that they are not subject to the same level of scrutiny and regulation as licensed brokers, which could put investors at risk. Here are names and screenshots of these brokers via FCA official website.

Name: UNLIMITED CAPITAL TRADING / THE UNLIMITED CAPITAL

Address: 264 Broad Street, Birmingham, UNITED KINGDOM, B1 2DS

Telephone: +15128433469

Email: support@unlimitedcapital.online

Website: www.unlimitedcapital.online

Name: AVA TRADES GO

Address: 76 Commercial Street, Edinburgh, UNITED KINGDOM, EH6 6LX, 846 Melrose Street, Spokane, Washington, UNITED STATES OF AMERICA, 99201

Telephone: +447451271701, +16145472179

FCA warned investors not to invest with these brokers. However, they must be careful if they do as these brokers lack broker licenses. Therefore, the risk may exist. They offer financial and investment services to clients without a license in the UK.

When we searched these brokers on Wikifx, we found they are brokers without any regulation and have lowest scores. Unlimited Capital has a 0.99 out of 10, while AVA TRADES GO has only 1.74 out of 10. Therefore, it is unsafe and risky to invest with these brokers.

About FCA

Financial Conduct Authority (FCA) is a regulatory body in the UK. The FCA's main role is to protect consumers by regulating financial products and services, promoting competition and ensuring that financial firms are financially stable. The FCA also has the power to investigate and take enforcement action against firms that breach its rules and regulations.

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