UK’s Financial Conduct Authority warns of CFDs100

October 27, 2018 at 11:18 PM


According to the latest warning of the UK’s Financial Conduct Authority (FCA), the Forex and CFD broker CFDs100 was blacklisted as it is not licensed or authorized by the regulator, although was targeting the UK customers.
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.


The broker CFDs100 operates through the website www.cfds100.com and offers a solid choice of currency pairs, as well as various CFDs – on commodities, indices, a few specific stocks, and Bitcoin. The company is owned and operated by TRSystem, a company registered and located in Estonia, Tallin. Neither CFDs100 nor TRSystem are regulated to provide their services in Estonia. In addition, the Estonian Financial Supervision Authority has issued a warning against the company stating that “TRSystem OÜ does not hold an active license for the provision of investment services in Estonia and therefore TRSystem OÜ is not authorized to provide investment services in Estonia.”
As to the targeted countries, most probably those are European German-speaking countries as the website supports English and German and they also provide the contact phone numbers with British and Austrian country codes.
To sum up, it is better to stay away from CFDs100, a broker that has two warnings in its collection and also a quite big number of the negative review from the traders who was scammed by this firm. We recommend selecting among brokers licensed by the respective authorities in the UK, or Australia for example. For instance, a broker registered with the UK’s FCA can’t simply take investor’s money and disappear. They follow multiple reporting procedures and have to keep client funds segregated from the company’s.
You can read our review on this broker here.