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British FCA Warns British Company Clone Capital FMI1 min read

Capital FMI is another clone firm that has been added to the UK Financial Conduct Authority’s long list of alerts. The firm was recognized as an unauthorized financial services provider. According to an official warning issued on Thursday, the company does not have a proper FCA license to provide financial services to UK traders and is outlawed.

The firm appears to be a clone of FCA Advance Global Capital Ltd registered with reference number 669678. Most often, scammers prefer to present themselves in such a way as to mislead uninformed traders.

In an official warning issued by the Financial Conduct Authority, we also read that the British authorities suspect a brokerage company of knowingly engaging in investment fraud. Traders are encouraged not to conclude contracts with Capital FMI services. In addition, we urge readers to enter into contracts with regulated and legal brokers only, which are governed by many of the rules set forth in the ESMA guidelines, which include split accounts and participate in a financial compensation scheme.

The FCA has provided traders with a helpline for consumers and encourages anyone who has been “coldly” called or in any way intended by Capital FMI representatives to contact them by calling 0800 111 6768. The UK’s main financial regulator regularly updates its list of alerts and encourages traders to always quickly check the brokerage services in their online registry before investing in them.