FCA Warns UK Consumers About Unauthorised Firm Bit Trade Master

The Financial Conduct Authority (FCA) has warned consumers about Bit Trade Master, also identified as bittrademaster.com, saying the firm may be providing or promoting financial services or products in the UK without permission. The FCA advises people to avoid dealing with the firm and to remain alert to scams. The warning identifies the firm’s name as Bit Trade Master / bittrademaster.com, its website as www.bittrademaster.com, and an address at Wenlock Road, 20-22, London, United Kingdom, N1 7GU. The FCA said Bit Trade Master is not authorised by the regulator and may be targeting people in the UK. It also cautioned that unauthorised firms can provide incorrect or changing contact details, including addresses, telephone numbers and email addresses, or use details belonging to another business or individual. Consumers who deal with the firm would not have access to the Financial Ombudsman Service for complaints and would not be protected by the Financial Services Compensation Scheme if the firm fails. The FCA said this means customers are unlikely to recover their money if the firm goes out of business. People who sent money to a fraudster on or after 7 October 2024 may have protections introduced by the Payment Systems Regulator, depending on the circumstances. The FCA recommends checking any financial business through its Firm Checker before using its services and confirming that the firm has permission for the specific activity offered. Anyone contacted unexpectedly should use the contact details listed in the Firm Checker rather than replying through the original message. Suspected approaches from Bit Trade Master or another unauthorised firm can be reported to the FCA on 0800 111 6768 or through its online contact form.