Bit Wealth Capital has been named by the Financial Conduct Authority (FCA) as an unauthorised firm potentially offering or promoting financial services in the UK without proper approval. The firm operates via the website [www.bit-wealth-capital.pro](http://www.bit-wealth-capital.pro) and is not listed on the FCA register, meaning it does not have permission to carry out regulated financial activities. Despite this, it may be actively targeting UK consumers. The FCA warns that unauthorised firms often use misleading contact information, which can be changed frequently or may belong to other legitimate businesses or individuals, making their operations appear credible.
To check if a firm is authorised by the Financial Conduct Authority, you can:
Customer Reviews
Customer reviews have been turned off for this provider as they are not regulated by the FCA and are not allowed to provide financial services to UK customers.
Alternatives
You can find an alternative provider that is regulated by the FCA in the UK in our comparison tables, where you can also see our opinion and customer reviews from our annual awards.
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The Importance of FCA Authorisation & Regulation
All firms offering financial services in the UK are required to be regulated by the FCA which is crucial in the UK for protecting consumers, ensuring financial market integrity, and promoting financial stability.
The FCA helps prevent mis-selling, enforces laws against market abuse, and supports innovation while fostering competition.
By setting and enforcing high standards, the Financial Conduct Authority maintains confidence and transparency in financial markets and protects clients’ money if a firm goes bust with the FSCS.
Worried About Financial Scams?
We have produced lots of guides about how to avoid financial scams in the UK. You can read a selection of them below.
If you think you have been a victim of a financial scam you should report it to the FCA here.
Funded trading programs are just the latest way to circumvent regulation
Funded trader programs are dropping like flies and it’s no surprise why. In my opinion, they are all doomed, as they are just the latest
WhatsApp Investing Scams: How They Work & How To Avoid Them
This week, Michael Hewson, the host of the Good Money Guide Podcast, was cloned, and a fake AI video advert was published on Facebook and
Instagram trading scams worse since Meta stopped fact-checking
My Instagram feed is getting worse, litterally every other post is a trading scam advert. When browsing through Instagram it is completely evident that there
How to avoid getting ripped off by rogue currency broker honeymoon exchange rates
One of the main issues with doing a large currency transfer is that it’s a one-off transaction that you probably haven’t done before, and you
Copy Trading: Scam or Legitimate Investment Opportunity?
It has just been reported that around 20% of the trading volumes generated by some offshore CFD brokers are from copy trading. Which is an
FCA Warns on Investment Clones and Issues 29 Warnings in 7 days
The FCA has highlighted the dangers of investment clone scams and has issued 29 new FCA warnings to unauthorised and clone firms in the last
Recovery Room Scams: The Dangers of Trusting Fake Reviews
Scammers are smart and dedicated to getting their hands on your cash. Trading loss expert reviews scams are a particular danger to investors – and
FCA finally flexing and fining Finfluencers for promoting scams
The FCA has finally done something about trading scams being promoted on Instagram. Emmanuel Nwanze who controlled the @holly_fxtrends Instagram account along with Holly Thompson
Pension Scams: How To Spot, Avoid and Report Them
Millions of Britons are still at risk of losing their retirement savings to fraudsters and pension scams with, reports of pension scams increased 45%, and
How To Spot and Avoid Investment Scams
We recently revealed from official police data that over £75m has been lost by UK investors to social media scams in one year. Find out
UK Investors Lose £75 Million To Financial Scams On Social Media
We submitted a Freedom of Information request to the police and action fraud to find out the true losses of how bad reported investing and
Another blow for cryptocurrency as Chase Bank UK bans crypto payments because of scams
J.P. Morgan’s UK banking arm Chase UK will stop its customers from buying cryptocurrencies from next month. Chase UK will stop its customers buying cryptocurrencies
Are BTC (Bitcoin) Telegram Signal Bots Ads a Scam?
A user has written in and asked: “Are Telegram BTC Ads legit?” So in this article, we are going to take a look at what
TikTok is the new haven for forex, bitcoin and investment scammers
It’s good to see the FCA finally showing their teeth and doing something about investing and trading scams on social media. Especially as Instagram has
FCA’s InvestSmart aims to stop new investors being scammed by social media
The FCA’s InvestSmart will aim to provide information for this new breed of young investors who are being encouraged to take on high-risk investments. A
The FCAs ban on Cryptocurrency derivatives won’t stop scammers
It’s certainly a step in the right direction but the FCA’s decision to ban cryptocurrency CFDs doesn’t go far enough to stop scammers. Britain’s financial
Scammers clone the FCA Register
Scammers have cloned the FCA Register on www.register-fca.org. Whenever we talk about financial investment scams, and we talk about them a lot, one of the
CFD Scams – What are they and how to spot them
We talk endlessly about CFD (contracts for difference) scams and how to avoid them. We’ve done surveys on what people do when they spot fake
How can major media outlets still be hoodwinked into unwittingly promoting forex investment scams?
For a while now, scammers have been targetting the national press through fake news, unwitting journalists and press releases. This is perhaps the most dangerous
Scam Financial Advertising & Promotion Statistics (2020)
Social media influencers are the least trusted to advertise financial products, with only 3% of those surveyed saying they trusted them. This is a relief
Which forex brokers offer a welcome bonus and won’t scam me?
A reader has asked: Which forex brokers offer a welcome bonus and won’t scam me? The quick answer is this, none. No decent broker will
Bond Scams: The rise of fixed income scams and how to avoid them
Bond Scams: One of the interesting things about running a website is that you can see via the analytics how people end up on it.
How To Spot & Avoid Investment ISA Scams
If you’re worried that an investment ISA may be too good to true here’s our guide to spotting ISA scams Investment ISAs that advertise eye-catching
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
