On 03 May, 2023, One of the best financial regulators in the world, FCA issued a warning against two unauthorized brokers such as Incometrade and 247PROTRADING . FCA warned investors to not invest with these brokers. We are sharing screenshots here .You may also see the list of blacklisted brokers on the official website of Financial Conduct Authority(FCA)
Address: 5b Cuerden Way, Bamber Bridge, Preston, England, PR5 6BL
Website: www.incometrade.co, www.incometrade.ltd
Address: 66 Great Suffolk Street, London, UNITED KINGDOM, SE1 0BL
Bronwydd Avenue, Cardiff, Wales, UNITED KINGDOM, CF23 5JP
1 Front St W, Toronto, CANADA, ON M5J 2X5
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. A firm or broker must have FCA authorization to sell, offer, or promote any financial services in the UK. These brokers, however, do not adhere to this rule.
Investing with an unauthorized broker can be risky, as they may not have the necessary safeguards in place to protect investors. The FCA has warned that investors should only deal with authorized firms, as they are subject to strict regulations and oversight. Investors should also be wary of unsolicited investment offers, as these are often a sign of a scam.