UK’s FCA warns against unauthorized forex broker GreenFields Capital

UK’s FCA warns against unauthorized forex broker GreenFields Capital

UK’s financial markets and services provider, the Financial Conduct Authority (FCA) has published a warning against forex broker GreenFields Capital. The broker is doing business in the UK and targeting local citizens without having the required authorization, the FCA said.

The broker operates via the website www.greenfieldscapital.com and is owned and operated by Premium Peak Ltd T. The website provides two addresses: one in London, UK, and another in Prague, the Czech Republic, but mentions nothing about license, nor regulation.

GreenFields Capital offers several trading account types and uses a web-based platform, instead of the popular MetaTrader 4. The broker seems to have an extensive product portfolio, including wide range of currency pairs and multiple CFDs, including such on a number of cryptocurrencies. However, the spreads seem high (fixed at 4 pips on EUR/USD). Of course, the biggest concern one might have with this broker is the fact that it is not regulated and bight be running an investment scam.

When engaging with a non-regulated broker, traders are putting their investments at higher risk. We strongly advise you to only deal with regulated forex brokers, authorized by reputable governmental agencies like Cyprus” CySec, UK’s FCA, or Australia’s ASIC, for example.

The FCA is renowned for its strict standards and tight supervision.It keeps a register of authorized forex and binary options brokers where investors can look up a broker prior to engaging with it. It also issues on a regular basis warnings against entities that could possibly harm investors.