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FCA calls out unlicensed introducing broker BillionsFX

Gerald Segal 0 Comments June 15, 2020

UK financial regulator The FCA has issued a warning against a website called BillionsFX, at billionsfx.co.uk.

The FCA stated that BillionsFX is not authorised by the regulator, and is targeting people in the UK. Based upon information it holds, the FCA believes that BillionsFX is carrying on regulated activities which require authorisation.

From its website, BillionsFX appears to be an introducer to CySEC-licensed FX and CFDs broker BDSwiss. The company also appears to be selling various packages of market insights, ranging in price from £14.99 up to £499 for a “Life Time Insights” package.

Gerald Segal

Gerald is one of the most experienced writers covering the online trading sector. Prior to starting FNG, Gerald founded Forex industry B2B news website LeapRate.com in 2010, selling it in 2018 to publicly traded Catena Media plc (STO:CTM). An avid skier, cyclist and ice hockey player, Gerald was previously an investment banker for more than a decade at Bear Stearns, Robertson Stephens, and Merrill Lynch. Gerald holds an MBA from Columbia University in New York and a BCOM degree from the University of Toronto.