UK’s FCA grants forex broker license to Blackwell Global Investments

UK’s FCA grants forex broker license to Blackwell Global Investments

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FCA Blackwell Global

The UK arm of forex and contracts for difference (CFDs) brokerage Blackwell Global Investments has obtained a license from the UK’s Financial Conduct Authority (FCA), data on the website of the regulator indicated. The license is effective as of 1 February, 2016.

As a result, the broker is authorized to provide its services and products in the UK. It operates via the website www.blackwellglobal.com.

Investments of up to £50,000 of clients of Blackwell Global Investments will be covered under the Financial Services Compensation Scheme (FSCS) in case of the broker’s default. The broker’s business is also covered by UK’s Financial Ombudsman Service and consumer complaints and disputes could be viewed by this third-party service. However, the broker has not been registered under the Money Laundering Regulations.

UK-regulaton is renowned for its strictest standards and supervision. To acquire a license from the UK financial watchdog, brokers need to provide proof of their financial stability, to meet certain criteria, and to comply with a number of strict rules and requirements. Under the local regulations, investors’ funds are kept in segregated bank accounts separated from the company’s operating funds.

Blackwell Global Investments has a sister company registered with and regulated by the Cyprus Securities and Exchange Commission (CySEC). Both UK and Cypriot licenses allow brokers to operate in all other EU member states.

Blackwell Global, set up in 2010, is a Straight Through Processing (STP) brokerage that offers trading of more than 32 forex pairs, precious metals and CFDs on futures, commodities and equities . It is present in more than 90 countries across Europe, South America and the Middle East, and has offices in Cyprus, the UK, Australia, and New Zealand.

Source: FCA

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