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Is Universe.co.com regulated in UK?
Jobson Kuzmina
Croatia
2023-11-02
ANSWER Universe.co.com is not regulated in the UK. On the contrary, it is illegally using details of its legitimate counterpart to mislead unwitting investors.Universe.co.com purports to be a trustworthy entity, yet it fails to provide any details regarding its regulatory status or contact information. This absence of crucial data could potentially indicate that the broker is not licensed, as regulated firms always prominently display their credentials and licenses. This is a cause for concern.More importantly, the Financial Conduct Authority (FCA) in the UK has issued an alert that Universe.co.com is duplicating the details of authorized firms in an attempt to convince people that their business is legitimate, essentially acting as a clone.In reality, Universe.co.com is not overseen by any regulatory bodies and can be considered fraudulent. Allowing it to manage or hold investor funds is risky, as there are no laws in place to safeguard these assets. To safeguard investors' interests, it is advisable to stay away from unlicensed brokers and opt for fully regulated ones.
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