UK’s Financial Conduct Authority warns of CFD Corporate
UK’s Financial Conduct Authority (FCA) has published a warning against the forex and CFD broker СFD Corporate. A broker has been targeting UK citizens, claiming to be authorised by FCA, while actually it is not. CFD Corporate give its investors a trading platform for Forex and CFD trading called TraderSoft. There are hundreds of assets available for trading, including Forex, Stocks, Commodities and Market Indices. According to its site www.cfdcorporate.com, the broker is based in Switzerland, but there is no regulatory information about it. The company owning the broker – Mpower Technologies Ltd – is based in Cyprus, but there’s still no information about its registration, as it should’ve been licensed by CySec then. As to the clients’ reviews, there are lot of negative ones can be found on the net. The company refuses to process their withdrawal requests and the managers are constantly pushing them to put in more money instead. Also, some people complain that after making a solid amounts from their investments and requesting withdrawals, the broker drained the account by placing numerous fake trades. The most important thing to look for at a Forex broker is a license from a legitimate government regulator like the FCA in United Kingdom or ASIC in Australia. A broker that is licensed must follow certain rules and regulations to ensure a safe trading environment. That’s the main reason why you should go for a properly regulated broker. You can read our review on this broker here.