FCA report links Capital Traders located in , [Tornimae 5 Tallinn 10145, and Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K] to a scam or illegal financial service in the UK.

The current cryptocurrency world is contaminated with scams and fakes that lead to massive capital investments from unknowing investors. The latest ‘scam’ to be unveiled by the Financial Conduct Authority (FCA) in the U.K. IS Capital Traders, an Estonian cryptocurrency firm operating in U.K.

The report released by the FCA, top financial regulator in U.K, on Wednesday claimed that Capital Traders were not registered according to their records. The report further stated that the company was offering financial services and investments without having a license which legitimates the businesses they are running.

The FCA has warned against trading with the company stating that some of the firms lack proper registration hence putting investors’ funds at risk. The report further wrote,

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by us. However, some firms act without our authorization and some knowingly run investment scams.”

In a deeper search for the company’s operations and businesses, we visited Capital Traders official website. The company is defined as a

“world-leading financial services provider offering a range of investment products in Cryptocurrency.”

The company website is currently out of service which further raises doubts about the legitimacy of the company.

With the cryptocurrency industry dynamism, investors should be on the lookout for these scams to prevent massive loss of their investments. The FCA has given a stern warning to companies that are not licensed or are scamming the citizens of the U.K. The regulator has increased the security measures and will have its work cut out after Binance Jersey began operations in Europe and the U.K.

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Source: https://bitcoinexchangeguide.com/financial-conduct-authority-fca-warns-about-capital-traders-cryptocurrency-investment-firm/