Foreign exchange is gaining fast momentum and it is not at all surprising that more and more investors are opting for this route to multiply their money. While the process itself is quite innovative and amazing to opt for, there could be a few factors that could end up being an influencing factor when it comes to investing via these modes. The Financial Conduct Authority (FCA) is an independent regulatory body in the United Kingdom which helps regulate and look after the workforces surrounding the financial companies that are working around in the UK. It was primarily known as the Financial Services Authority and has been in operation since 2013.
Given the fact that the foreign exchange does depend quite a lot on this prospect as well, it is not surprising that more and more residents from the United Kingdom are opting for the services from the FCA regulated brokers.
Are FCA brokers reliable?
Given the fact that FCA is a government-run body, it is not even a question that the brokers working under the FCA are legit and will provide you with the best of outcomes, in comparison to what you are expecting. It has now become mandatory for every investor to opt for the brokers who are regulated under FCA and who work under their line of work. This helps ensure that your investment is safe and secure and won’t necessarily get affected with the downsides of the same.
How to stay protected under FCA?
If you are making investments and wish to stay protected under their scheme, it is very important that you know the in and outs when it comes to FCA and the legal rules around the same. Whatever the circumstances are, it is very important to ensure that you manage the condition effectively by choosing brokers who are not just certified but do have an overall experience in the salient field as well.
When you opt for a broker under the guidance of the FCA, it is best suggested to go through the official website of the FCA itself and from there, check all the licensing information that is provided by the company. This will effectively help you get a hang of the authenticity of the broker or the company he is working under. It is always best suggested to confirm and reassure the same because there are chances that you might get scammed in the process.
How do I lodge a complaint against an FCA regulated broker?
Now, even with all the precautions, there are happenstances when you might end up getting scammed in the process of investment. If the same is the case with you, lodging a complaint against such brokers is the best way.
There is a complaint resolution department under the council which handles such grievances and helps you get back the money you have been falsely scammed with. It is always best suggested to go and register your complaint there itself. If proven guilty, not only are you eligible to get back your invested money, the FCA can even charge the accused with penalties for their doing.