Global Broker governance & inquiry App
IndustryFCA Warning over "Morgan Stanley’s Clone"

UKs Watchdog Financial Conduct Authority (FCA) issues warning against clone of Morgan Stanley on 14 Dec, 2023. This firm is not authorised but has been contacting people pretending to be an authorised firm. Below are the details of the Clone firm. Name: Morgan Stanley / Morgan Stanley & Co Ltd (clone of FCA authorised firms) Telephone: 0800 802 1697, 0800 802 1752, 0800 802 1746,02039001405, 02071830312, 0800 6800923, 02071398506, +442034550277, 02034450277, 02078461039, 02035764394, 02071837832, 02071832826, 02071834554, 02073176674, 0203 137 5993, 0203 137 8974, 02071836549, 02071838425, 02034320802, 02031372239, 02071833421 Email: aharvey.morganstanley@usa.com iandonaldjacobs.morganstaniey@europe.com admin@ms-bonds.com. admin@ms-assetsmanagement.com kristianheugh.morganstanley@europe.com, enquiries@ms-privatewealth.com name@ms-clientmanagement.co.uk enquiries@ms-clients.co.uk, enquiry@ms-privateservices.com, enquiry@ms-privateservice.com, enquiry@ms-private-services.com dient@ms-clientservice.com admin@mssecureplatform.com enquiry@msretailenquiry.com client@dientservices-msuk.com, admin@mssecureplatform.com enquiry@ms-private.com, dient@ms-clientservices.com, legal@ms-aml.com legal@ms-amlservice.com admin@ms-fixed-income.com jwhite.morganstanley@europe.com Website: mssecureplatform.com, www.ms-login.com

WikiFX2023

2023-12-15 16:11

IndustryMetaQuotes Removes Unregulated Brokers from MetaTrader

MetaQuotes' withdrawal of MT4 from unregulated brokers has sent ripples through the Forex trading community. MT4 is known for its user-friendly interface and broad accessibility, making it a preferred choice for many traders. However, the recent decision by MetaQuotes is forcing traders to reconsider their brokerage choices, spotlighting the risks associated with unregulated platforms and the benefits of switching to regulated brokerages. Unregulated brokers, such as Hugo's Way, Hanko Trade, and Kot4x, pose significant risks to traders. Operating without regulatory oversight, these platforms can engage in questionable business practices, jeopardizing the safety of traders' investments. The lack of regulation means there is no guarantee of fund security in the event of the brokerage facing financial difficulties or engaging in fraudulent activities. This precarious situation places traders at risk of losing their entire capital invested in these platforms.

WikiFX2022

2023-12-13 14:36

IndustryFCA's Pace is Not Meeting Expectations

The Financial Conduct Authority (FCA), which oversees a vast financial services industry worth over £170 billion in the UK, is currently experiencing significant shifts. In 2020-2021, the FCA initiated a transformation program to adapt to the evolving landscape and reshape its operations, regulating approximately 50,000 firms. Although this endeavor initially resulted in considerable staff turnover, stability has been achieved over time. The Financial Services and Markets Act 2023 (FSMA 2023) conferred extended powers upon the FCA, empowering them to create regulations and introduced a new objective of fostering the international competitiveness of the UK. With regards to these augmented powers and the rapid transformations in the market, the NAO's report critically examines the response of the FCA. Despite taking proactive measures, the FCA encountered delays in addressing concerns and enforcing regulations. Notably, it necessitated additional legislative support for imposing standards on credit providers offering "Buy Now Pay Later" facilities.

WikiFX2022

2023-12-12 16:35

Industry“Biggest scammer of India“~ User said

WikiFX received a complaint from a Smart Investment Capital user. The complainant stated that he received a call from a broker's representative to invest in this broker. “I invested $1100 with the broker on August 31, 2023. At first, things seemed to be going well.” Complainant said. The victim received regular updates on his profits. But later on, things changed. He told on the regulatory app, WikiFX, that he is facing a withdrawal issue. He said, “This is the first time I am facing this issue since investing my money with the broker.” He stated in his complaint.“I tried many times to contact the broker, They said they are working on some upgrade, Now all their numbers are switched off,”. The victim added “they are not replying, either by email, phone call or through their website”.

WikiFX2023

2023-12-11 16:10

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