The Financial Conduct Authority of Britain has added two broker companies to its black list.
The FCA has warned against Swift CFD, which is a broker that allows its clients to trade currencies, cryptocurrencies, commodities, stocks and indices derivatives.
Swift CFD is run by companies from Estonia and the Marshall Islands, but it is not regulated at all. It is not allowed to provide investment services in the EU, yet it is doing so.
The second warning concerns Next Coin Market, which is a broker focused on cryptocurrencies. But the trading is not direct, the broker lets its customers trade with derivatives.
Next Coin Market is based in Bulgaria, but is not regulated, it has no license whatsoever.
For trading use regulated brokers.