BgcpartnersFX Is A Clone Of FCA Authorised Firm!

Can you trust a bad broker who has been officially exposed by the FCA？On November 11th, the FCA updated its warning list, and BgcpartnersFX is also included.

BgcpartnersFX was blacklisted by the Financial Conduct Authority in the UK, which warned on November 11, 2022 that BgcpartnersFX has been pretending was authorized by FCA to offering its financial service in the UK. You may see the warning on the screenshot below.

“BgcpartnersFX is totally a clone of FCA authorized firm to disguise itself as a licensed company,” The FCA adding that, “Fraudsters are using the details of firms we authorize to try to convince people that they invest with a genuine, authorised firm.”

Such warnings actually effectively exposed it as a clone firm and a scam scheme. Clones are dangerous as they impersonate legit companies, which makes it easier for fraudsters to take their investors‘ guards off and scam them out of their money. It’s a simple but very effective strategy, as the number of impostors like BgcpartnersFX is constantly on the rise!

WikiFX also paid a visit to the brokers official website to learn more. So far, its official website is still accessible, proving that Sterling Investments Limited is still deceiving investors, their tricks didn't stop with the FCA's warning. According to its website, it's clear that the company is attempting to flout the FCA's warning to prove it was a legitimate company.

Please bear in mind that this is totally a scam uncovered by the authorities. All information on its official website is baseless and untrustworthy.No matter how well the terms and conditions on its website and the trading platform are presented, remember that these are decoys that are trying to lure you in -- once you've deposited your money, the elaborate traps are just beginning.

With such complex regulatory information, how should investors distinguish between good and bad traders？ It's as simple as typing the name of the broker into WikiFX before you invest, you will see every aspect about this broker. WikiFX also provides a comprehensive score based on license, business, risk control, software and regulatory, which is benefit for investors to make judgments. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!