This report reviews Core Prime and Eurotrade Capital, covering revoked FCA authorisations, unverifiable London addresses, regulatory warnings and key forex platform risks for investors.
UKFCARevokes Authorisations of Two Forex Platforms
According to an investigation report disclosed by an industry monitoring agency in May 2025, the forex trading platforms Core Prime, registered in Saint Lucia, and Eurotrade Capital Ltd, which claims to be registered in the United Kingdom, have both had their relevant authorisations from the UK Financial Conduct Authority (FCA) revoked. Field investigation teams visited the London office addresses publicly listed by the two platforms, but neither visit could confirm the existence of a physical operating location. — Source: WikiFX industry monitoring report, May 2025
Core Prime: UK Company Registration Dissolved, London Address Found to Be a Shared Office Space
Core Prime, full name Core Prime Ltd, has its main operating entity registered with the Saint Lucia International Financial Centre (IFC) under registration number 2024-00573. Its business covers forex, energy, indices, cryptocurrencies and commodities, with trading conducted through theMT5platform and a minimum deposit requirement of USD 10.
The platform was previously registered with the UK Companies House under company number 16079957, with a registered address at 77 Farringdon Road, London EC1M 3JU. It should be noted that this registration is a Common Business Registration, not a forex trading licence issued by the FCA. The two are fundamentally different in legal effect and regulatory level. The status of this UK company registration has now been changed to “dissolved.”
Comprehensive evaluation data from the industry monitoring agency shows the following core scores for Core Prime:
Business index: 5.35; software index: 7.94
Licence index, regulatory index and risk-control index all scored zero
Overall score: only 1.89 out of 10, classifying it as a low-rated broker
Risk labels include: questionable regulatory licence, regional broker and high-risk warning
In 2025, the field investigation team visited Core Prime’s publicly listed business address in London, 77 Farringdon Road, London EC1M 3JU, and found that the building was a shared office space. Investigators found no company signage or information related to Core Prime inside the building and could not enter the interior to confirm whether its office area existed. The investigation concluded that Core Prime did not exist at the publicly listed address. — Source: WikiFX field investigation report, 2025
Eurotrade Capital Ltd: FCA Authorisation Revoked, Followed by Warnings from Regulators in Three Countries
Eurotrade Capital Ltd claims to be registered in the United Kingdom, with company registration number 10078767 and a registered address at The Bower, 207-211 Old Street, London EC1V 9NR. The company previously held an FCA licence under number 777162, with the licensed entity listed as Asset Capital Management UK Limited. The licence type was an Investment Advisory Licence, not a forex trading licence. According to regulatory updates, the licence status has changed from “regulated” to “revoked.”
Industry evaluation data shows that Eurotrade Capital Ltd has a business index of 6.24 and a software index of 4.00, while its licence, regulation and risk-control dimensions all scored zero. Its overall score is likewise only 1.89, placing it among low-rated brokers.
In December 2025, the field investigation team visited The Bower building near Old Street in London. The area has a relatively mature commercial environment, but investigators found no signage for Eurotrade Capital Ltd outside the building. After asking at the reception desk, staff said they were unsure whether the company operated there, and photography was not allowed inside the building. The investigation team was unable to reach the target floor and could not confirm whether the company’s office area existed. — Source: WikiFX field investigation report, December 2025
Timeline of Warnings Issued Against Eurotrade by Regulators in Three Countries
| Date | Regulator | Warning Details | Basis for Action |
|---|---|---|---|
| November 23, 2021 | UK FCA | Listed Eurotrade as an unauthorised firm and warned that it may have been providing financial services without permission | FCA warning list of unauthorised firms |
| March 7, 2022 | Spain’sCNMV | Determined that Eurotrade was not authorised to provide investment services in Spain | CNMV notice on unregistered firms |
| June 8, 2022 | Belgium’sFSMA | Identified Eurotrade as a fraudulent online trading platform | FSMA warning list of fraudulent trading platforms |
| December 2025 | WikiFX field investigation team | Field investigation confirmed that Eurotrade Capital Ltd did not exist at its publicly listed London Old Street address | Field investigation report by an industry monitoring agency |
Several independent review agencies stated in their reports that Eurotrade had engaged in unauthorised operations, provided anonymised services to users and was suspected of imitating the name of a legitimate broker to mislead investors. Investor complaints have continued to increase around withdrawal obstacles and opaque information related to the platform.
Common Risk Characteristics Shared by the Two Platforms
The two platforms above show highly similar risk characteristics in terms of regulatory status and actual operations:
Their relevant FCA authorisations have been revoked or dissolved
The licence types they held do not match their actual business activities, indicating potential operations beyond the permitted scope
Field investigations could not confirm the existence of physical operating locations at their publicly listed London office addresses
Their industry evaluation scores are extremely low, with all core regulatory dimensions scoring zero
Industry analysts noted that adverse changes in regulatory status are often accompanied by cascading risks such as worsening withdrawal difficulties and the inability to safeguard client funds. For platforms whose licences have been clearly revoked and whose physical offices cannot be verified through field investigations, investors should promptly assess their account status and handle remaining funds with caution.
Questions Related to FCA Authorisation Revocation for Forex Platforms
What are the common reasons why the UK FCA revokes a company’s authorisation?
Common reasons for FCA authorisation revocation include failure to meet ongoing compliance requirements, submission of false or misleading information, business activities exceeding the scope permitted by the licence, failure to segregate client funds as required, and voluntary cancellation by the company. Revocation decisions are usually publicly updated on the FCA Register, where investors can check real-time status.
How can investors distinguish a UK company registration number from an FCA licence number?
A UK company registration number is issued by Companies House and indicates that a company has completed business registration, but it does not mean the company is authorised to provide financial services. An FCA licence number, also known as an FRN or Firm Reference Number, is issued by the Financial Conduct Authority. Only firms with a valid FRN are authorised to conduct regulated financial services business in the United Kingdom. When verifying a platform’s credentials, investors should distinguish between these two types of numbers to avoid being misled by ordinary business registration.
What does “not found at the listed address” usually mean in a field investigation?
When a financial services company cannot be confirmed at its publicly listed address after a field investigation, it usually indicates that the address may be used only for registration purposes and that the company does not actually operate at that location. This situation is relatively common among offshore-registered trading platforms and is regarded by the industry as a high-risk signal, because the lack of a physical office means investors may find it difficult to pursue offline dispute resolution if problems arise.
Does the Saint Lucia IFC where Core Prime is registered have forex regulatory functions?
The Saint Lucia International Financial Centre (IFC) is mainly responsible for the registration of international business companies. It does not issue specialised financial services licences for forex brokerage business, nor does it provide investor protection mechanisms equivalent to those of top-tier regulators such as the UK FCA or Australia’s ASIC. Forex platforms registered in Saint Lucia are essentially in an “offshore unregulated” state, and investor funds are not protected by strict segregation and compensation systems.
