Bulgarian regulator warns against forex network for HNWs

Chris Hamblin

6 October 2016

The regulator’s website does not mention the firm, but Finance Magnates reports that it finds the company to be ‘suspicious,’ listing its website url as http://www.utmarkets com. It also, according to the publication, says that UTMarkets operates several brands including CFD Global Ltd, STP Marketing Ltd and T-Marketing Ltd, which are also providing financial services or products without a regulatory licence. It apparently claims to offer electronic communication network access to the foreign exchange market.

UT markets’ standard account regime (dealing in amounts of $100-2,499) does not deploy relationship managers and dedicated service teams but its classic account and premium account regimes ($2,500-9,999 and $10,000+) do. The premium regime also guarantees an SMS service to HNW clients. The trading platforms are Web, Android and Apple.