The Financial Conduct Authority (FCA) has issued a warning regarding Quantum Global Markets, stating that the firm is not authorised by the UK regulator and may be providing or promoting financial services or products without the required permission.
According to the FCA, Quantum Global Markets may be targeting people in the United Kingdom. The details published include the firm name, Quantum Global Markets, with an address listed as London, United Kingdom. The contact information provided comprises an email address, [email protected], and a website, https://quantumglobalmarkets.com/.
The regulator warns that Quantum Global Markets is not authorised and that consumers who engage with this firm will not be covered by key UK investor protection mechanisms. Specifically, individuals will not have access to the Financial Ombudsman Service if they wish to make a complaint about the firm. In addition, they will not be protected by the Financial Services Compensation Scheme (FSCS) if something goes wrong, including if the firm goes out of business.
The FCA notes that the absence of FSCS protection means it is unlikely that consumers would recover their money if the firm fails. This lack of regulatory authorisation and compensation coverage is highlighted as a significant risk for anyone considering dealing with Quantum Global Markets.
Regulatory guidance for consumers
The FCA advises consumers to deal only with financial firms that are authorised by the FCA. It recommends using the FCA Firm Checker to verify the authorisation status of any firm before engaging in financial transactions or accepting investment offers.
Consumers who believe they have been approached by an unauthorised firm are encouraged to contact the FCA. The regulator provides a dedicated telephone number, 0800 111 6768, for such reports. Alternatively, individuals can use the FCA contact form to submit details of their concerns.
The warning underscores the FCA's broader message that engaging with unauthorised firms can leave consumers without access to complaints procedures and compensation schemes that apply to authorised firms. The FCA's notice on Quantum Global Markets serves as a reminder to check a firm's regulatory status and to exercise caution when responding to financial promotions or service offers, particularly those that may target UK consumers without the appropriate authorisation.
