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Published: 2018-11-30 12:16:26

Another day, another set of warnings issued by the Financial Conduct Authority (FCA). On this occasion the two firms listed by the British regulator are operating in very different fields.

First we have PVP Research, a firm that purportedly provides sell-side research and brokerage services.

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The company claims that it has offices in Canary Wharf, Wall Street and Switzerland.

This may be the case but the author could find no matching office on a companies directory for Canary Wharf. Companies House UK also lists no company that has any connection to PVP Research.

Similarly, the company lists itself as having an office at no. 40 Wall Street. The building lists all of its current tenants and PVP Research is not among them.

The lesson here – it’s probably best not to trust PVP Research.

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FCA Cryptonix

Next we have a cryptocurrency firm, VIP Crypto, aka The Cryptonix Team.

Aside from the website’s annoyingly bad English and the vomit-like colour scheme that is puked on to your screen as you browse through it, there are clear indications that this is a scam.

For one thing, the site’s terms and conditions seem to indicate that the company will make it as hard as possible for users to withdraw their deposits.

Similarly, when you do deposit, the site says that one of its ‘experts’ will be setting up an automated trading system for you. I can say, with almost one hundred percent certainty, that this is total bullshit.

Confirmation of that comes from another of the site’s recommendations – that users download AnyDesk, a piece of software that allows other people to remotely access your computer.

Why would a trading company need to be able to do that? Probably so they can steal all your money. Don’t trade with Cryptonix folks, no matter how many VIPs they may claim to have served.

The views and opinions expressed in the article FCA Warns Against PVP Research & Cryptonix do not reflect that of 48coins.com nor of its originally published source. Article does not constitute financial advice. Proceed with caution and always do your own research.

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