iMarketsLive “scammers” warning issued by FCA
As I write this Alexa cite the UK as the fourth largest source of traffic to the iMarketsLive website (5.8%).
This seems to have caught the attention of the Financial Conduct Authority, who back in May issued an iMarketsLive warning.
The FCA identify iMarketsLive as a company that provides “financial services or products”.
This would require iMarketsLive to register with the FCA for compliance, which they had not done.
As per the FCA’s May 21st warning;
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.
However, some firms act without our authorisation and some knowingly run investment scams.
This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.
BehindMLM first reviewed iMarketsLive in 2013. We took issue with the company’s focus on pyramid recruitment and FX Signals automated signals platform, which we identified as an unregistered securities offering.
In 2017 we published an updated iMarketsLive review. Since our 2013 review iMarketsLive had introduced retail sales but the FX Signals securities issue remained.