FCA Warns Consumers Against Unauthorised Firm Demini Trades

The UK Financial Conduct Authority (FCA) has warned consumers not to deal with Demini Trades, saying the firm is unauthorised and may be targeting people in the UK with financial services or products. The warning identifies the business as DEMINI TRADES and lists its website as www.deminitradefx.com. The FCA listing gives addresses in London, at 1 Canada Square, Canary Wharf, E14 5AB, and Frankfurt, at Mainzer Landstrasse 50, 60325. It also provides an email contact. The regulator cautions that unauthorised firms may use incorrect contact details or details belonging to another business or individual, and that listed details can change. Consumers 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 it is therefore unlikely customers would recover their money in that situation. For payments made to a fraudster on or after 7 October 2024, the warning points consumers to protections introduced by the Payment Systems Regulator and its guidance on what to do after paying a scam account. The FCA advises checking a firm and the services it is permitted to provide through its Firm Checker, then 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 by calling 0800 111 6768 or using the regulator’s contact form.