FCA Warns Against Unauthorised Firm Global Stock Trading

The Financial Conduct Authority (FCA) has warned consumers against dealing with Global Stock Trading, an unauthorised firm that may be offering or promoting financial services or products in the United Kingdom. The firm is listed with an address on St Vincent Street in Edinburgh, the email address [email protected], and the website globalstock-trading.com. The FCA said Global Stock Trading is not authorised by the regulator and may be targeting people in the UK. The warning advises consumers to avoid dealing with the firm and to be alert to potential scams. The regulator also cautioned that unauthorised firms may provide incorrect or changing contact details, including addresses, telephone numbers and email addresses, or use details belonging to another business or individual to appear genuine. People who deal with Global Stock Trading would not have access to the Financial Ombudsman Service if they needed to complain. They would also not be protected by the Financial Services Compensation Scheme if the firm failed, making it unlikely they would recover their money in that situation. Payments sent to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator, depending on the circumstances. The FCA advises consumers to check any financial firm through its Firm Checker before sending money or sharing information. Consumers who receive an unexpected approach should use the contact details shown in the checker rather than relying on details supplied by the firm. Anyone who believes they have been contacted by an unauthorised firm can report it to the FCA on 0800 111 6768 or through the regulator’s contact form.