FCA warns against Glenmore Investments, Yes Trading, Prestige Financial Markets and others

The British Financial Conduct Authority has published warnings against seven unregulated entities.

The following brokers offer trading with currencies, cryptocurrencies and other assets, but always indirectly through contracts for difference. This kind of trading is always regulated.

But the following brokers are soliciting UK residents without being licensed:

  • Glenmore Investments
  • Yes Trading / Yes Option
  • Prestige Financial Markets
  • Legal Trade
  • Royal Markets Online / Royal CFDs
  • Fair Oaks Crypto
  • Good Crypto

Such unregulated brokers cannot legally operate not only in the UK, but in almost every other country.

For trading use regulated brokers only.

2 thoughts on “FCA warns against Glenmore Investments, Yes Trading, Prestige Financial Markets and others

  1. So, I signed up with Royal CFDs with their suggested £250, which they said was sufficient to start making a profit. As soon as they banked my deposit, which,incidentally they said I could retract at any time, they phoned and sent Emails asking for photographic copies of my driving license( understandably), a utility bill, again understandably) and both sides of my credit card. I would not comply because of obvious security dangers. Then, they phoned me this morning to make me a “free” offer. Now this “free offer” involved me committing £10,000 to my account. So how would that have been free then? Anyway, when I said a definitive “NO” they said I could be offered a deal for £2000 instead. Again they insisted that this was a “free” offer. Stay away from these people, as I found out after the phone call, they are not licensed, regulated or approved by the FSCA. I’ve cancelled the card I used for the transaction and when they phone again tomorrow, which they have said they will, after giving me time to consider their “offer” , I will ask for the return of my deposit. Watch this space!

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