UK’s Financial Conduct Authority (FCA) has published a warning against the offshore forex and binary options broker StoxMarket.
According to FCA, the broker, owned by Marketier Holdings registered on the Marshall Islands has been targeting UK clients and has been performing financial activities and services that require FCA authorization.
“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”, FCA said.
According to some reviews, StoxMarket is a very dubious company – a claim substantiated by the numerous complaints of clients on the broker’s Facebook page. Pretty much all of them say the broker is a scam and they cannot withdraw their money. The clients claim that the broker is very persistent in making them deposit funds and once they succumb to the pressure, it stops taking their calls and does not pay back. Judging by the number and languages of complaints, StoxMarket has been targeting people from all over the world.