Another broker company has been flagged by FCA and is pinned down in the warning lists of forex broker companies.
United Kingdom’s Financial Conduct Authority (FCA) has received several serious complaints from real clients of AlfaTrade since August this year.
Nemesis Capital Limited
Nemesis Capital Limited, a payment service provider of AlfaTrade via www.alfatrade.com located at Stoney Ground, Kingstown, St. Vincent and the Grenadines, has been added on the list of scam alerts, which offers trading accounts.
AlfaTrade claims to have an office located in Bulgaria, implying to be a brokerage firm that offers international trading in forex, contracts for difference, commodities and indices.
It appears that a British Columbia (BC) resident managed to open a live account with AlfaTrade, citing both parties are not registered to offer trading or even give provision on securities in BC and is therefore not allowed to operate financial services.
Hence, BC residents were warned to avoid dealing with forex broker companies that are not registered to trade or advise in BC.
The FCA has also warned AlfaTrade by Australian Securities & Investments Commission (ASIC) and noted a warning notice about the forex broker company, in which both parties have been classified as “unregistered businesses” as they have failed to provide legal documents to operate financial services.
It is essential to note that businesses and individuals who are listed by the FCA are unregistered to operate financial services and has failed to respond or provide proof of legal license prior warning notice.