FCA Warns UK Consumers Against Unauthorised Axis Trade Firms

The UK’s Financial Conduct Authority (FCA) has warned consumers that Axis Trade, also using the names Axis Advisory Trade and Axis Advisory Trade Trading Limited, is unauthorised and may be targeting people in the UK. The regulator says the firm may be providing or promoting financial services or products without its permission and advises the public not to deal with it. The FCA warning lists the websites www.axisadvisorytrade.com and www.axistrade.ai, and gives an address of Tower 42, 25 Old Broad Street, London, EC2N 1HN. The regulator cautions that unauthorised firms can use incorrect or changing contact details, or details belonging to another business or person, to appear genuine. The listed address and website names should therefore not be treated as proof that the firm is authorised. Consumers who deal with the firm would not have access to the Financial Ombudsman Service to complain and would not be protected by the Financial Services Compensation Scheme (FSCS) if the firm failed. The FCA says customers are unlikely to get their money back in that situation. 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. The FCA advises checking a firm and the services it is permitted to provide through its Firm Checker before investing, and using the contact details listed there when responding to an unexpected approach. Anyone who believes they have been contacted by an unauthorised firm can report it to the FCA on 0800 111 6768 or through the regulator’s contact form.