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Is Orcal Group located in the UK?
Judith May
Botswana
2023-12-12
ANSWER No, Orcal Group claims to be located in Switzerland. However, it is strange that it provides a UK phone number as its hotline. More importantly, we strongly suggest you avoid engaging with Orcal Group, as it is an unlicensed trading platform, posing significant risks to investors.There are no indications that Orcal Group is registered with the Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA). This platform hasn't provided any information about its regulatory status. This absence of the required authorization is a red flag for a potential scam. Furthermore, it has received a warning from the FCA for its carrying out unlicensed financial activities in the UK. All these findings point to its poor credibility, suggesting its potential intention to defraud.As such, trading with Orcal Group could lead to the risks of fraud and identity theft. Investors are strongly advised to avoid Orcal Group and other unlicensed brokers. To mitigate such substantial risks, it is recommended to choose fully regulated brokers that have solid reputations.
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