FCA Blacklists Crypto Clone Firm and Unauthorised FX BrokerNovember 1, 2018
The Financial Conduct Authority (FCA) has updated its blacklist this Thursday to include two firms – Cryptobourse and Meta Investing. According to the warnings, Cryptobourse is a clone firm of an FCA-regulated Crypto Facilities Limited and Meta Investing is operating without a licence.
Cryptobourse claims to be a provider of online cryptocurrency trading, operating via the website www.cryptobourse.net. Specifically, the website states: “Cryptobourse is one of the world’s most popular platforms for trading cryptocurrencies while controlling its investments in real time position by position.”
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According to the warning from the British watchdog, the company is using the details of the legitimate firm Crypto Facilities Limited, in an attempt to trick consumers. It is important for residents of the United Kingdom to remember that sometimes clone firms will use the details of authorised companies to appear legitimate.
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The reference number for Crypto Facilities Limited is 757895 and the address is 25 Copthall Avenue, London, EC2R 7BP. It appears this authorised company is quite popular, as the FCA warns that there are other clone firms illegally using this information to deceive consumers. These fraudsters are Patrimoine Crypto, Crypto Quicker, Epargne Crypto, Crypteurobank.com, XE Crypto, Bitoraxe, Cryptos-Currency and Cryptos-House.
Meta Investing is flagged by the FCA
Meta Investing has also been highlighted by the British regulator as a potential scam. According to its website (www.metainvesting.com), the company is “the largest broker in the market” and claims to provide forex, stocks & indexes and commodities trading.
The firm claims to be a broker of B.M.O. LTD, however, the FCA warns that Meta Investing does not have the proper authority to provide financial services within the UK. As a result, residents should be careful when dealing with this company, or better yet, avoid it entirely.
According to the warning, Meta Investing has three London addresses, with its trading office based at Complex Ajeltake Island, Majuro, MH96960, Marshall Islands.
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