British financial services regulator the Financial Conduct Authority (FCA) has today issued a warning with regard to Japanese FX brokerage Nakitrade.
The regulatory authority believes that this particular firm has been providing financial services or products in the UK without our authorization.
The company is registered with a London address, which is 145-157 St John Street, London EC1V, which is in the City of London’s “square mile” financial district.
The FCA has reported that the firm is Japanese, and operates from 3-7-1 Nishi-Shinjuku, Shinjuku Park Tower, Tokyo, Japan, and that despite listing a London address, is not licensed by the FCA to conduct business in Britain.
The company operates via websites www.nakitrade.com, and https://partners.nakitrade.com/ and is according to the FCA associated with and operated by GDPX Assets ltd, 788-790 Finchley road, NW11 7TJ, London, United-Kingdom.
It is very rare that Japanese firms would operate in this manner, bearing in mind Japan’s stringent regulatory structure and notoriously high quality business ethic, as well as the domestic market orientated nature of Japanese FX companies which rarely seek business outside Japan.
The FCA further advises that the company utilizes various email addresses, including [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], and that all potential customers should exercise caution when approached by unregistered FX companies.
For the official announcement from the FCA, click here.