FCA says FX firm KSFTrade is unlicensed

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Financial Conduct Authority FCA issues warning

Britain’s financial markets regulator, namely the Financial Conduct Authority (FCA), which is one of the strictest regulators around and on a permanent campaign to protect investors from unscrupulous brokers, has recently issued a warning with regard to an unlicensed retail FX brokerage which operates under the name of KSFTrade, through which it informs investors that the said firm has been providing financial services and financial products online in the UK without authorization from the regulatory authority. This means that KSFTrade is not actually allowed to operate in Britain or to solicit business from retail customers in the United Kingdom.

As it does every time it issues a warning against a particular firm, the FCA also takes the opportunity to strongly advise investors under its jurisdiction to only deal with financial firms that are authorized. It also urges all potential clients of financial services to always check its Financial Services Register in order to ensure that the company they wish to trade with is listed.

As is the case with many unlicensed firms, KSFTrade is in reality a brand and trading name of a different company, the parent company is this present case being Marshall Advanced Innovation Ltd. As indicated on the website www.ksftrade.com, the registered address of the firm is said to be 20-22 Wenlock Road, London, N1 7GU.

However, as this is the same address as London Presence, a company which offers virtual office services which include mail forwarding, telephone answering and fax forwarding services, this clearly indicates that in fact KSFTrade has no actual presence whatsoever in the UK.

 

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