LotsFX Listed as An Unauthorized Firm by FCA

On Tuesday, the Financial Conduct Authority of UK posted the website "www.lotsfx.com" as an unauthorized firm in the kingdom. "This firm may be providing financial services or products in the UK without our authorisation," stated in the announcement.

FCA once again reminds all UK investors that almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by the regulator.

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Therefore, in the case of trading with such an unauthorized firm, you will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.

By the time Fazzaco visited the said website today, it has become inaccessible.

Last week, Fazzaco had the story of FCA issuing warnings against 41 new companies​ that are soliciting customers in the UK jurisdiction without any licenses or are clones of authorized platforms.