FCA Warns Against Unauthorised Oribit X Trading FX

The UK Financial Conduct Authority (FCA) has warned consumers not to deal with Oribit X Trading FX, saying the firm is unauthorised and may be targeting people in the UK. The warning covers financial services or products the firm may be providing or promoting without the regulator’s permission. The FCA lists the firm’s website as orbitxtradingfx.com and gives an address of Stamford Road, London, E6 1LP, a telephone number of 7441443650 and an email address of [email protected]. The regulator cautions that unauthorised firms may use incorrect contact details or details belonging to another business or individual, and that their contact information can change. People 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 this makes it unlikely customers would recover their money if the firm went out of business. It also notes that some people who made payments to a scam account on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator. Consumers can check a firm’s authorisation and permitted services using the FCA Firm Checker, and should contact businesses using details listed there. 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.