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Is It Possible to Trade and Invest at The Same Time?

FCA Warns: Beware of the Unlicensed Forex Broker UnitedFxTrade

WikiFX

| 2022-07-22

Abstract：UnitedFxTrade tries to be a reliable forex broker that will help you earn some decent money on the side by claiming its global regulation.

An Unregistered Forex Broker in the US

UnitedFxTrade claims it is licensed and regulated to offer investors access to a wide range of markets to trade forex, indices, stocks, etc, but actually it has no authorization to do so.

Headquartered in the CA, US, UnitedFxTrade must be registered as a futures commission merchant and foreign exchange dealer with the CFTC and to be a member of NFA as US- based reliable forex brokers do. However, no results matched with UnitedFxTrade on the two regulatory bodies.

The FCA Added UnitedFxTradeinto Its Warnings

What's more, the company was recently added to the FCA's warning list. On 13 April 2022, the UK's financial watchdog added UnitedFxTrade to its alert list, saying that this firm is not authorised by it and is targeting people in the UK.

An unregulated broker is clearly not authorized to operate in any regulated country.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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