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Is HKD regulated by FCA?
Ronak Manu
Italy
2023-10-18
ANSWER No, HKD is not subject to any regulatory body, and thus it is evidently not regulated by the Financial Conduct Authority (FCA).HKD's website is poorly designed, and some of its links are broken. It fails to disclose any information about its operator and regulatory status, a red flag for a potential scam. HKD marks itself as a leading global platform, claiming to strictly adhere to Canadian regulations. It uses such statements to mislead unsuspecting investors and appear legitimate. However, our search in the register of the Investment Industry Regulatory Organization of Canada (IIROC) didn't find any companies with "HKD" in their name. This inconsistency with HKD's claim of regulatory compliance significantly undermines its credibility.Therefore, HKD is a fraudulent platform and poses substantial risks of fraud and identity theft. Individuals dealing with it are not protected by rules and law. If HKD goes out of business or absconds, customers are not able to reclaim their money or get compensation. To avoid such a disaster, we strongly suggest investors stay away from unlicensed platforms like HKD and instead choose a fully regulated one.
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