Traderzmarket and GCE Capitals blacklisted by the FCA
The UK’s Financial Conduct Authority (FCA) has issued warnings against Traderzmarket and GCE Capitals. The regulator said the brokers have been providing financial services and products targeting people in the UK without being licensed.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
Are these brokers legit?
Traderzmarket is a Forex broker, owned and operated by Investment Company Activity LTD., registered in Bulgaria. The company also claims to operate from the office in Switzerland, however, they provide a British contact number on the website next to the address. Traderzmarket is not authorized in any of the mentioned countries and, moreover, has been blacklisted in by the Swiss FINMA and Italian CONSOB.
GCE Capitals is an online trading platform that offers Cryptocurrency and Forex Trading. The company claims to have offices in London and Zurich, however, they do not disclose any legal information about the broker’s license. Apparently, GCE Capitals is not licensed and should be avoided.
It is recommended to trade with authorized and regulated brokers. There are many trading companies that offer relatively good trading deals and conditions. These companies are regulated by such financial regulators like ASIC, CySEC, and FCA.
You can also share your trading experience with Traderzmarket and GCE Capitals by commenting on this post.