UK FCA warns against AMP Trading
Among the latest issued warnings of the UK’s Financial Conduct Authority (FCA) is the one against an unregulated financial services provider – company AMP Trading that appears to target UK residents.
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.
AMP Trading is a forex and cryptocurrencies broker that operates through the website www.amptradinggroup.com. The firm is owned and operated by AMP Trading Limited (according to the website, AMP Trading Limited is an appointed representative of AMP Prime Ltd Authorised and Regulated By Financial Service Commission (FSC) and Registered in England & Wales). FSC regulation means that the company is simply registered in one of the offshore zones – Vanuatu as the registration number VFSC012B stands for Vanuatu Financial Services Commission.
Next to broker’s London address there is a Cyprus address, which probably points out one more office location. Despite the London and Cyprus locations, AMP Trading is not regulated in any of these or other countries.
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 the ASIC, CySEC, and FCA.
You can read our review on this broker here.