FCA Warns UK Consumers Against Unauthorised Firm Trade4WorldFX

The UK’s Financial Conduct Authority (FCA) has warned that Trade4WorldFX is not authorised to provide financial services in the UK and may be targeting people in the country. The regulator advises consumers to avoid dealing with the firm and to beware of scams. The firm is associated with the website trade4worldfx.com. The FCA says people who deal with an unauthorised firm will not have access to the Financial Ombudsman Service to pursue a complaint. They also will not be protected by the Financial Services Compensation Scheme if the firm fails, making it unlikely they would recover their money in that situation. Consumers should check the FCA Firm Checker before dealing with a financial business, confirming both that it is authorised and that it has permission to provide the service being offered. Anyone contacted unexpectedly should use the contact details listed in the checker rather than relying on details supplied by the firm. The FCA also cautions that unauthorised firms may use incorrect or changing contact information, or details belonging to another business or person. Anyone who believes they have been approached by an unauthorised firm can contact the FCA on 0800 111 6768 or use its online contact form. The regulator 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, and directs affected consumers to guidance on what to do after paying a scam account.