UK’s FCA warns against GCC Investing forex broker
In one of its latest posts, the UK’s Financial Conduct Authority warns public about GCC Investing brokerage firm. This company has been providing financial products and services to UK clients without FCA’s authorization. As all the firms offering or promoting financial services in the UK have to be authorized, the GCC Investing is now blacklisted and considered to be a scam. Forex and CFD broker GCC Investing operates on the website www.gccinvesting.com and based in Sofia, Bulgaria. GCC offers a variety of assets to trading including; Forex pairs, Global Market Indexes, Shares, Oil, Gold, and Silver. Although it is owned by GreenRiver OU in Tallinn, Estonia, but payment processing is done by Mercure Services Ltd, which is based in St Vincent & Grenadines. St Vincent & Grenadines doesn’t have the regulation of forex activity under its jurisdiction. The conclusion would be that the firm cannot be trusted and may be a scam. If you try searching the information about the mentioned broker, the first thing you will see is loads of negative reviews and angry customers who are still trying to get their money back without results or those who just invested and receiving phone calls encouraging them to invest more. When dealing with unauthorized brokers, investors and traders put their funds at higher risk. We strongly advise to choose and deal only with regulated forex brokers, by trusted governmental agencies, such as UK’s FCA, Australia’s ASIC, Cyprus’ CySec.