FCA Issues Warning Against Unauthorized Firm Velomarkets

The Financial Conduct Authority (FCA) in the United Kingdom has published a formal warning concerning an entity operating under the name Velomarkets. According to the regulator, Velomarkets is suspected of providing or promoting financial services or products without the necessary regulatory authorization. Under UK financial regulations, almost all firms and individuals must be officially authorized or registered by the FCA to offer, promote, or manage financial services. Velomarkets has not obtained such authorization, meaning it is operating unlawfully when targeting UK residents. Known Details of the Unauthorized Firm: Name: Velomarkets Address: 71-75 Shelton Street, Covent Garden, London, UNITED KINGDOM, WC2H 9JQ Telephone: +441235619775 Email: [email protected] Website: http://velomarkets.info The FCA notes that unauthorized entities frequently provide incorrect or misleading contact details, such as rented addresses, VoIP phone numbers, or details belonging to legitimate unrelated companies, and may alter these details over time. Risks for Investors: Engaging with an unauthorized firm like Velomarkets poses severe financial risks. Clients will not have access to the Financial Ombudsman Service should a dispute arise, nor will they be protected by the Financial Services Compensation Scheme (FSCS). In the event that the firm collapses, misappropriates funds, or ceases communications, investors have virtually no recourse to recover their capital. Investors are advised to verify the regulatory status of any broker or investment provider via the official FCA Register before committing funds. Anyone who has interacted with Velomarkets or similar unauthorized operators should report the activity directly to the relevant regulatory authorities.