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Buying and selling Epic or Epic Fail? FCA Warns of Unauthorised FX Agency

It was solely yesterday that we right here at Finance Magnates reported that the Monetary Conduct Authority (FCA) had posted a warning on its web site a few suspected rip-off. In lower than 24 hours, the regulator has already up to date its record and added a brand new contender at this time.

The most recent entity to be added to the FCA’s warning record is Buying and selling Epic, an alleged international change (foreign exchange) and contracts for distinction (CFD) buying and selling supplier. The rationale this firm has been fortunate sufficient to fall underneath the regulator’s radar is as a result of it’s working in the UK with out authorisation.

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Within the UK, mainly, all companies and people that supply monetary services or products must be authorised by the FCA. Nonetheless, some companies, which frequently have lower than trustworthy intentions, act with out authorisation and a few intentionally run funding scams.

Subsequently, an entity working within the UK with out authorisation is a critical warning bell for shoppers. To ensure that residents to remain conscious and establish the potential rip-off, the British watchdog has listed Buying and selling Epic’s particulars as follows:

Handle: East 14th Road, New York, NY 10003, USA

Phone: +1 (315) 333 2803

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E mail: assist@tradingepic.com

Web site: www.tradingepic.com

Through its web site, Buying and selling Epic claims: “Buying and selling Epic is among the main platforms in america providing binary choices, Foreign exchange and spreads. Regulated by the CFTC and primarily based in New York, with member funds held in segregated accounts in main US banks, Buying and selling Epic presents safe and modern methods to take part within the markets.”

Buying and selling Epic claims to be registered by the FCA

Additionally on its web site, the entity additional states that it’s authorised by the FCA. Nonetheless, the warning from the regulator at this time exhibits the exact opposite, which casts every part else the corporate has stated on its web site unsure.

Fraudsters and rip-off firms will all the time do their greatest to attempt to seem as professional as doable to make shoppers really feel extra snug with parting with their hard-earned money to put money into their unlawful operations.

Due to the warning from the FCA at this time and the clearly false statements on its web site, it’s protected to imagine that Buying and selling Epic falls in direction of the top of the suspicious scale and due to this fact, residents of the UK ought to give this entity a large berth.

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