FCA warns against BECFD and SW1 Options

British Financial Conduct Authority has warned about two unlicensed brokers.

BECFD is a CFD broker that offers trading with various assets like currencies and cryptocurrencies. The broker doesn’t provide any address, but phone numbers are leading to Great Britin, Germany, Switzerland and Italy.

However BECFD has no license to provide investment services, so by soliciting residents of these countries it is acting illegally.

The same applies to SW1 Options, whose site is currently down, so it is impossible to get any additional info. The FCA stated that it is a broker that is not regulated, but is offering it’s services in Britain.