UK’s financial markets and service regulator, the FCA, has warned that the forex broker Stratton FX is a clone of the fund management and advisory company Stratton Street.
According to the watchdog, Stratton FX operates from the site https://strattonfx.com. It, however, is not regulated and provides a non-existent street address in London as its headquarters.
It offers trading in forex pairs and CFDs and claims to be “licensed by the global financial oversight bodies in the UK”. The only UK body that oversees the activities of forex brokers in the country is UK, and Stratton FX is not regulated by it.
Stratton Street, on the other hand, is properly regulated by the FCA and its site is http://www.strattonstreet.com/. This FCA authorized firm that fraudsters are claiming to work for has no association with the “clone firm”, the regulator noted. It is authorized to offer, promote or sell services or products in the UK, unlike Stratton FX.
As a general rule, unregulated forex and binary options brokers should be avoided at all costs, as dealing with them is much riskier than with the properly authorized companies. Not only many of the former are a scam, but even if they aren’t, clients could lose everything in case they go bankrupt.
For a full review of Stratton FX, follow this link.