brokerswatch blue red brokerswatch white red logo
  • Directory
  • Penalties
    • Warning
    • Fines
    • Settlements
    • Suspension
    • Termination
  • Promotions
  • Blog
  • Regulators
    • Regulators News
  • Platforms
  • Analysis
    • Market Analysis
Add a listing
Sign in or Register
0
Add a listing
warrning

FCA bans FXVC for the UK customers

  • Date
    16/04/2021
  • Details
  • prev
  • next
  • Official Release
  • Bookmark
  • Share
  • Report
  • prev
  • next
Content

The FCA has acted to stop a Cypriot based firm, Finteractive Limited (trading as FXVC), from offering high risk contracts for difference (CFDs) to UK investors.

FXVC used a variety of inappropriate techniques, including misleading financial promotions which appeared to offer consumers the opportunity to purchase shares in a well-known company and failed to mention that they were actually promoting CFDs.

Many of the FXVC’s customers were unclear about the nature of the investments that they were being persuaded to make and the risks involved in trading in CFDs.

The firm used pressure tactics, described by one customer as 'relentless', to encourage consumers to invest ever increasing sums of money. Some customers were even encouraged to declare they were professional investors despite not meeting the necessary criteria for such categorisation.

The FCA has stopped FXVC from any regulated acitivities in the UK and required the firm to close all trading positions and return the money to customers.

Affected Entity
FXVC
From
FCA
Type
  • Termination
Reason
  • Non-Compliant

You May Also Be Interested In

CVM in Brazil warns against 4xc.com (4XCube Ltd)

Fine
$: 1000

FCA warns against Unauthorised firm - Start by Change

Warnings

FCA warns against Unauthorised firm - Paragon-Invest

Warnings
brokerswatch white red logo

Searching for the right forex broker is no easy task, but have no fear! Brokerswatch Forex Brokers Directory has made it very simple.  Find the right brokers based on the criteria most important to you and compare them side by side for easier selection

Twitter Facebook-f Instagram Linkedin Reddit

Brokers By Regulator

  • UK Investment Firms
  • US Investment Firms
  • CySec Investment Firms
  • UK Investment Firms
  • US Investment Firms
  • CySec Investment Firms

Forex Brokers List

  • Best Forex Brokers
  • Scam Forex Brokers
  • Penalized Forex Brokers
  • Best Forex Brokers
  • Scam Forex Brokers
  • Penalized Forex Brokers

Trading Tools

  • Forex Jobs
  • Economic Calendar
  • Advanced Real Time Chart
  • Stock Heatmap
  • Forex Cross Rates
  • Forex Heat Map
  • Cryptocurrency Market
  • Forex & Stocks Screener
  • Forex Brokers Live Spread Comparison
  • Forex Jobs
  • Economic Calendar
  • Advanced Real Time Chart
  • Stock Heatmap
  • Forex Cross Rates
  • Forex Heat Map
  • Cryptocurrency Market
  • Forex & Stocks Screener
  • Forex Brokers Live Spread Comparison
Risk Warning: FX trading is high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment goals, experience and risk tolerance levels. Loss of  part or all of your initial investment is possible;  therefore do not invest money that you cannot afford to lose. It is advised to educate yourself about FX trading before you trade real money. Disclaimer:  All data and information on this Website are provided “as is” and to be used only for information purposes.  Information is not  intended for trading or trading recommendations.  The operators of this website shall not be liable for any loss incurred by you as a result of reliance on the information contained in the Website.

© All rights reserved

  • Contact
  • Terms and Conditions
  • Privacy Policy
  • Contact
  • Terms and Conditions
  • Privacy Policy

Cart

  • Facebook
  • X
  • WhatsApp
  • Telegram
  • Pinterest
  • LinkedIn
  • Tumblr
  • Reddit
  • VKontakte
  • Mail
  • Copy link
  • Share via...
  • Threads
  • Bluesky