{"id":5934,"date":"2021-04-19T08:26:26","date_gmt":"2021-04-19T08:26:26","guid":{"rendered":"https:\/\/www.futuresandoptions.gr\/en\/?p=5934"},"modified":"2021-04-19T08:26:31","modified_gmt":"2021-04-19T08:26:31","slug":"fca-stops-fxvc-offering-cfds-to-uk-customers","status":"publish","type":"post","link":"https:\/\/www.futuresandoptions.gr\/en\/fca-stops-fxvc-offering-cfds-to-uk-customers\/","title":{"rendered":"FCA stops FXVC offering CFDs to UK customers"},"content":{"rendered":"\n<p>The FCA has acted to stop a Cypriot based firm, Finteractive Limited (trading as FXVC), from offering high risk contracts for difference (CFDs) to UK investors.<\/p>\n\n\n\n<p>FXVC used a variety of inappropriate techniques, including misleading financial promotions which appeared to offer consumers the opportunity to purchase shares in a well-known company and failed to mention that they were actually promoting <a href=\"https:\/\/www.futuresandoptions.gr\/en\/asics-cfd-product-intervention-order-takes-effect\/\">CFDs<\/a>.<\/p>\n\n\n\n<p>Many of the FXVC\u2019s customers were unclear about the nature of the investments that they were being persuaded to make and the risks involved in trading in CFDs. The firm used pressure tactics, described by one customer as &#8216;relentless&#8217;, to encourage consumers to invest ever increasing sums of money. Some customers were even encouraged to declare they were professional investors despite not meeting the necessary criteria for such categorisation.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.fca.org.uk\/\">FCA<\/a> has stopped FXVC conducting any regulated activities in the UK and required the firm to close all trading positions and return the money to customers.<\/p>\n\n\n\n<p>FXVC operates in the UK under the Temporary Permission Regime (TPR) put in place for firms who used to operate in the UK under a passport and who wish to continue to operate here following the UK\u2019s exit from the European Union. These firms operate under the TPR until their application for full authorisation by the FCA can be considered.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FCA has acted to stop a Cypriot based firm, Finteractive Limited (trading as FXVC), from offering high risk contracts for difference (CFDs) to UK investors.<\/p>\n","protected":false},"author":2,"featured_media":4177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1123,14,32],"tags":[661,1097,1561,1562],"class_list":["post-5934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finreg","category-financial-news","category-world","tag-cfds","tag-fca","tag-finteractive","tag-fxvc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FCA stops FXVC offering CFDs to UK customers - Futures and Options<\/title>\n<meta name=\"description\" content=\"FCA has acted to stop a Cypriot based firm Finteractive Limited (trading as FXVC) from offering high risk contracts for difference CFDs to UK\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.futuresandoptions.gr\/en\/fca-stops-fxvc-offering-cfds-to-uk-customers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCA stops FXVC offering CFDs to UK customers - 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