FCA warns against Crypto Options Trader and KontoFX

British financial market regulator FCA issued two new warnings against unregulated brokers.

The first FCA notice concerns Crypto Options Trader. It offers trading in cryptocurrencies, but indirect, through binary options.

Broker claims to be based in London, which requires him to be licensed by the FCA. But he doesn’t, he is unregulated, and that’s why the regulator warned him.

The second warning concerns the KontoFX broker. It also offers indirect trading in cryptocurrencies through CFDs.

This broker is allegedly operated from Hungary by a company originating in Estonia. However, it is again an unregulated company, so KontoFX is not authorized to provide its services not only in the UK. Which he does, so he earned a place on the FCA blacklist.

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