FCA Issues Alerts Against Unauthorised and Clone Firms in the UK

The UK Financial Conduct Authority (FCA) has issued warnings against four entities—Securelivetrades, Profits Stock FX, QueenForex UK Ltd, and QA Trading LTD—for operating without the necessary authorisation or impersonating authorised firms.

Unauthorised Firm: Securelivetrades

Securelivetrades, operating via securelivetrades.io, has been flagged for offering financial services without FCA approval. The firm lists a London-based address and uses professional-sounding communication, but lacks any formal licensing.

Profits Stock FX Operating Illegally

Another firm on the warning list is Profits Stock FX (profitsstockfx.com). Based in London, the company promotes trading services without FCA registration, placing consumers at significant financial risk.

QueenForex UK Ltd Listed Without Proper Authorisation

QueenForex (UK) Ltd, despite using a UK-related name and claiming a U.S. address, is not registered or authorised to provide any financial services in the UK. The FCA has confirmed that the firm may be misleading consumers through false representation.

Clone Warning: QA Trading LTD

The FCA also issued a clone warning for QA Trading LTD, which has been imitating a legitimate authorised firm to gain the trust of unsuspecting individuals. This entity uses fake credentials, websites, and communication channels to appear credible.

Regulatory Note

Firms that operate without FCA authorisation leave customers unprotected. In the event of disputes or financial loss, affected individuals are not eligible for support from the Financial Ombudsman Service or compensation from the Financial Services Compensation Scheme (FSCS).

The FCA urges investors to verify firms on the Financial Services Register and be cautious of unsolicited contact from unfamiliar platforms. Clone firms often use realistic branding, falsified addresses, and domain names similar to licensed institutions.