The UK’s Financial Conduct Authority has announced the results of a crackdown on CFD firms that used a UK licence as a front for overseas business. 21 firms have already closed and 3 more are cancelling their permissions — 24 in total. Below we explain the practice and publish the latest FCA warnings from September 2026.
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24 CFD firms closing. What was the misuse?
According to the FCA statement of 25 September 2026, the firms concerned:
- carried out minimal business in the UK,
- used their UK authorisation to lend credibility to linked overseas entities,
- gave the impression that clients were dealing with an FCA-regulated firm with full UK protections, while the contract was actually with an offshore company.
Since 2025 the FCA has restricted the firms’ trading, required independent business reviews and opened two enforcement investigations into the most serious cases. The FCA did not publish the firms’ names.
“Consumers need to know exactly who they’re dealing with and what protections they have. When firms blur the lines between their UK-regulated activities and overseas businesses, we will step in” — Dominic Holland, Director of Sell-Side Supervision at the FCA.
What it means for investors
It is one of the most common tricks: a broker advertises the FCA logo, but the account is opened with a company in the Seychelles, Vanuatu or Saint Vincent. Before depositing, check the name of the legal entity in your contract and its register number — not just the brand. See our guide on how to verify a broker’s licence.
Three of the six firms below are clones — fraudsters copying the name, address and register number of genuine authorised firms.
FCA warnings — September 2026
- investnestglobal.com (clone of NEST Invest Limited) — website: www.investnestglobal.com (added 04.09.2026)
- TradeWell — website: https://tradewell.today (added 10.09.2026)
- smartpaynet.com (clone of Money Compass Limited) — website: smartpaynet.com (added 16.09.2026)
- themoneycompass.net (clone of Money Compass Limited) — website: themoneycompass.net (added 16.09.2026)
- GRIN AND GAIN ADVISORS — website: www.grinandgain.com (added 17.09.2026)
- NovaTask (clone of Nova Business Finance Ltd) — website: novatask.uk (added 17.09.2026)
