While the regulator does not name InvestXE directly, the alert goes on to warn the public to be wary of trading frauds. Last week, the Financial Conduct Authority banned cryptocurrency specialist Binance Group from carrying out any regulated business in the UK. He ended up looking at the InvestXE website and left his name and phone number to get further information. The next day, he was contacted by an InvestXE trader calling himself Joseph who asked whether he wanted to start trading – the answer was 'yes'. Initially, he invested a small amount (£200), but then proceeded to deposit larger amounts as Joseph, trading on his behalf, won over his trust by seemingly making some serious profits.

Source: The Nation July 04, 2021 09:00 UTC