FCA warns against Crypto Options Trader and KontoFX

The UK’s financial regulator FCA has warned against two unregulated crypto brokers.

The first warning is about Crypto Options Trader that offers crypto trading via binary options.

This broker claims to be located in the UK, but lacks the necessary licence for providing investment services. It is not regulated at all.

The second warning is about KontoFX that offers crypto trading via contracts for difference (CFD).

This broker is allegedly run from Hungary by an Estonian company, but is not regulated either. Despite this it is targeting UK residents (among others).

For trading use regulated brokers only.

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