FCA Warns UK Consumers About Unauthorised algospheremarkets.com

The Financial Conduct Authority (FCA) has warned that algospheremarkets.com is not authorised to provide financial services in the UK and may be targeting people there. The regulator advises consumers to avoid dealing with the website and to be alert to scams. The firm’s listed details are the website algospheremarkets.com, an address at Canada Square, London, telephone number +1 800 555 0199 and email address [email protected]. The FCA cautions that unauthorised firms may provide incorrect or changing contact details, or details belonging to another business or person. Consumers should therefore verify a firm’s authorisation and permission for the specific services offered using the FCA Firm Checker, and contact an authorised business through the details listed there rather than responding to an unexpected approach. People who deal with an unauthorised firm will not have access to the Financial Ombudsman Service to complain and will not be protected by the Financial Services Compensation Scheme if the firm fails. The FCA says people who sent money to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator, depending on their circumstances. Anyone who believes they have been approached by an unauthorised firm can report it to the FCA on 0800 111 6768 or through its contact form.