FCA Flags FX Educational Platform SO FX
In its latest crackdown, the UK’s Financial Conduct Authority (FCA) has warned against SO FX. The educational forex trading platform is not registered with the regulator.
SEC’s warnings are limited to the fraudulent companies imitating authorized companies or brokers indulged in some misleading activities. FCA issued warnings on the influencers showing off on social media about their forex profits and then selling affiliated services. SO FX falls on that last category.
Operating from the website so-fx.com, the firm primarily offers forex trading educational courses for beginner and advanced traders. The platform is also active on social media such as Instagram and Facebook with thousands of followers.
It seems to be getting the majority of its business through its social media exposure. The regulator also highlighted the Instagram handle of both the company and its co-owner George Linfield, with its Facebook page.
SO FX also guides potential forex traders, to affiliate brokers, as mentioned on its website.
The flagged details of SO FX include its address at Roman Landing, 35-37 St Mary’s Place, Southampton SO14 1AU.
The watchdog flags the firm’s telephone numbers which are 023 8017 8743 and +4447771606768.
Also SO FX ‘s Instagram account, https://www.instagram.com/georgelinf/; @georgelinf; @sofx
and Facebook, https://facebook.com/sofxuk
It as well flags the company’s website: https://so-fx.com
FCA: Clones on Rising
Aside from SO FX, the UK watchdog red-flagged two clone platforms imitating authorized brokers. One platform has imitated FCA-authorized Growell Capital Limited. Another has cloned EEA-authorized Dirk Vandebeek.
The FCA also detailed that the FXGrow clone operates from “https://fxgrowcapital.com/”. It might be approaching people using the email “[email protected]” and its phone number “0097145864211.”
The Vandebeek-clone operates from “www.vandebeekwm.co.uk” and maintains at least two emails. The email addresses are [email protected] and [email protected].
It’s telephone number is 02080897180.
Earlier in August 2020, the UK regulator warned against two clone firms using the identities of FCA-authorized brokerage ETX Capital.
