Enigma Strategy Receives Direct FCA License for UK Clients

Enigma Strategy secured an independent license from the UK Financial Conduct Authority (FCA) to offer financial services in the UK.

Formerly operating under Mayfair Capital since 2019, Enigma Strategy will use the license to conduct its blended business model. This includes forex, stock brokerage trading signals, and copy trading services.

Enigma Strategy previously expanded its fundamental services provision ability. This came after the firm received authorization from the UK’s financial firms’ services regulator.  The firm also launched the Enigma Platform, a product offering for forex research and analysis.

FCA’s direct authorization will enable Enigma Strategy to offer trading signals to its clients on behalf of their brokers. This is an addition to offering traditional market execution and client portfolio advisory and investment services.

Enigma Strategy’s Trading Signal Service Still Unregulated

Financial brokers offer trading signal services as suggestions on when to trade an asset at a specific time and price. The signals are either analyzed by experts or trading algorithms and often work best as subscription services.

Enigma strategy said that customers can access customized analysis with signals on major currency pairs from veterans and trading bots.

“…produced every six hours from qualified veteran traders, with said signals being generated under an Artificial Intelligence and Machine Learning Framework.”

According to the FCA, Enigma’s trading signal services are however still unregulated. Therefore, clients subscribed to the service gain exposure to more financial risk.

The unregulated status disqualifies them from financial cover from the Financial Ombudsman Services (FOS) or the FSCS’ compensation cover.

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Enigma Strategy’s Copy Trading Services

Copy-trading in the financial markets allows individuals to copy positions opened by other specific individuals. The process is usually automatic and often connects a portion of the copying client funds to the account of the copied trader’s portfolio.

On Enigma Strategy, its analytics platform offers key services. These include technical analysts, pattern recognition, live charts, sentiment alerts, economic calendar, and forex-based information. The firm also doubles as a B2B product service provider for other traders in need of regulated retention trading tools.

Enigma clients also have access to trading courses that offer more insight into trading activities. However, the copy trading services are for users who prefer to gain hands-on experience.

The service allows interested traders to avail their trading portfolios to the public so other traders can copy their positions.

Apart from the Enigma Strategy news, the FCA has also announced further proposals to support consumer credit coronavirus-stricken borrowers.