FCA Warns CFXTRADE May Be Targeting UK Consumers Without Authorisation

The UK Financial Conduct Authority (FCA) has warned that CFXTRADE may be providing or promoting financial services without permission and could be targeting people in the UK. The firm is not authorised by the regulator, which advises consumers to avoid dealing with it and remain alert to scams. The FCA lists CFXTRADE at Grosvenor House, 22 Grafton Street, Altrincham, Cheshire, WA14 1DU, with the website www.cfxtradepro.com, telephone number +17027064466 and email address [email protected]. The regulator cautions that unauthorised firms may use incorrect or changing contact details, or details belonging to another business or person, to appear genuine. People who deal with CFXTRADE would not have access to the Financial Ombudsman Service to pursue a complaint and would not be protected by the Financial Services Compensation Scheme if the firm failed. The FCA says this makes it unlikely customers would recover their money in that situation. For payments sent to a fraudster on or after 7 October 2024, protections introduced by the Payment Systems Regulator may apply. Consumers can check a firm and the services it is permitted to provide using the FCA Firm Checker, and should use 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 by calling 0800 111 6768 or using the regulator's contact form.