What is Whitestone Finance?
Whitestone Finance Ltd positions itself in the global financial market as a legitimate financial brokerage firm which offers advisory broking and execution services to private clients, investment banks, hedge funds and portfolio managers. However, we found the original Company established in the UK dismissed.
Is Whitestone Scam or Legit?
According to the Financial Services Register of FCA, this broker is an unauthorized firm. So in most case just some random company using the name of the previously established firm, which is a typical scam trick.
Frequently Unscurpulous or scam firms use the name of the genuine firm, the ‘firm reference number’ (FRN) or other details, to pretend a legit firm but has no connection to other rather than misuse of the name.
- Despite the address and phone number are indicated on the company’s website they are not correct because they are not listed in the register. Moreover, in the case of this broker, it uses the address and name of the genuine firm, Jersey incorporated company.
- This one prepared a Public Statement in order to ‘warn investors and others against dealing with unauthorized financial service providers. WF Ltd has not received authorization to conduct financial service business within the meaning of the FS (J) L‘.
- That’s why we have to consider the Whitestone Finance Ltd is a clone of Jersey incorporated firm.
So, we started to look for other accounts of this firm, for instance, their Facebook or LinkedIn pages but we didn’t find anything. Then we tried to check some information about the fraudsters on forums to find out the truth. Finally, we found what we’ve been searching for, namely, negative feedback from its clients.
Conclusion on WhiteStone Finance Ltd
In conclusion, we strongly recommend you always check the legitimacy of the broker which you want give your money and choose only reliable and regulated Brokers, or trade with reliable ones such as HFM broker.