I see a big problem on both sides.
Michael's continued silence is quickly destroying the good will he earned for YouTrade here in the forums.
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On the other hand, there's this:
Something is very wrong here. Registration #548033 belongs to Youtrade Capital Markets Limited.
https://www.fsa.gov.uk/register/firmBasicDetails.do?sid=266463
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In case that doesn't open, I'm attaching a screenshot.
Perhaps someone could ask the FOS to explain the inconsistency?
Pharaoh and Pedro,
Holy ****. Either the FSA rep is smoking something or the two firms are not related; yet carry a similar name and reference the same number!
Who could believe this??
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Perhaps FPA leadership can make a serious inquiry to FSA UK to confirm the information they seemingly supplied to Pedro under the reference number he published here!
Very strange and unprecedented.
AI
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PS: Original post by pedropires2, copied here for safe keeping:
From: Consumer Queries <consumer.queries@fsa.gov.uk>
Sent: Wednesday, August 1, 2012 6:41 PM
Subject: RE: FW: Complaint
Our Ref: PC146286/ISS10627319
Dear Sir/Madam,
Thank you for your email of 26 July 2012.
You have asked for guidance on how you can make a complaint against youtradefx as you have lost money due to a mistake they have made.
I have checked our public register and I cannot find any record of a company that is authorised and regulated by the Financial Services Authority (FSA) by the name youtradefx.
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I have searched online and I presume you are referring to the organisation behind Forex Trading Online, Online Forex Trading, Forex Trading System. If this is the case I can confirm that this is not a company that is authorised by the FSA. Whilst foreign exchange trading is usually not an FSA regulated activity, I suspect this company are acting fraudulently due to the fact that their website suggests they are located in the UK and FSA authorised which again I can confirm they are not.
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If you have lost funds as a result of trading with this company, you may wish to report the matter to the police as I cannot confirm this company is a legitimate operation and may be running a scam. You may also wish to refer to further information on scams from our website page below.
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Scams and swindles
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If you have any future questions on financial services and products, you may find it easier to call our Consumer Helpline on 0845 606 1234 (call rates may vary). You can also access relevant information online at Consumer information and via the Money Advice Service website:
www.moneyadviceservice.org.uk/.
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Yours sincerely
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Peter Malcolmson (Mr)
Customer Contact Centre
Financial Services Authority
Consumer Helpline: 0845 606 1234 (call rates may vary)
Consumer information