A FINANCIAL watchdog is urging people to avoid dealing with a Bournemouth-based firm and to beware of scams. 

The Financial Conduct Authority (FCA) has issued a warning surrounding Elite Gain Ltd/Elite Gains Ltd.

The firm, based in Brassey Road, Winton, offers cryptocurrency trading and is said to have been set up by a group of “professional” traders and investors. 

The FCA said: “This firm may be providing or promoting financial services or products without our permission.

Bournemouth Echo: Screenshot of Elite Gain websiteScreenshot of Elite Gain website (Image: Internet)

“You should avoid dealing with this firm and beware of scams. 

“This firm is not authorised by us and may be targeting people in the UK.” 

To carry out or promote financial services, almost all firms and individuals must be authorised through the FCA, the UK’s financial regulatory body. 

The FCA advises that dealing with Elite Gain will mean complaints about it can’t be dealt with through the Financial Ombudsman Service. 

Also, users won’t be protected by the Financial Services Compensation Scheme if things go wrong, meaning it’s unlikely investors would get their money back if the firm goes out of business.

Bournemouth Echo: Elite Gain websiteElite Gain website (Image: Internet)

According to Elite Gain’s archived website, it has three years of experience and claims to have 14,000 “happy clients” giving a 100 per cent satisfaction rate. 

It adds: “Elite Gain Ltd is a product of careful preparation and fruitful work of experts in the field of Bitcoin mining, highly profitable trade in cryptocurrencies and online marketing.  

“Using modern methods of doing business and a personal approach to each client, we offer a unique investment model to people who want to use Bitcoin not only as a method of payment, but also as a reliable source of stable income.” 

It offers several investment plans and has a number of ‘verified clients’, including Willie Wagner, leaving reviews.