FCA warns UK consumers against Global Pip Markets

The UK Financial Conduct Authority (FCA) published a warning about Global Pip Markets on 2 November 2026, saying the firm is unauthorised and may be targeting people in the UK. The regulator advises consumers to avoid dealing with it. Readers approached by the firm should not send it money and should check the firm and the services it offers through the FCA Firm Checker before taking any action.

In its published notice, the FCA says Global Pip Markets may be providing or promoting financial services or products without its permission. It says the firm is not authorised by the regulator and may be targeting people in the UK. The notice tells consumers to avoid dealing with the firm and to beware of scams.

The FCA lists the name Global Pip Markets and the website globalpipmarkets.com. It also gives an address in Great Neck, New York. However, the regulator cautions that firms may provide incorrect or changing contact details, or details belonging to another business or person. The listed address or website should therefore not be treated as proof of a firm’s identity or authorisation.

The FCA says almost all firms and individuals must be authorised or registered to carry out or promote financial services in the UK. Its warning does not describe Global Pip Markets as authorised to provide those services.

The FCA says people who deal with Global Pip Markets will not have access to the Financial Ombudsman Service for complaints about the firm, and will not be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. The regulator says it is unlikely customers would get their money back if the firm went out of business.

For retail traders, this is a warning about the firm’s regulatory status in the UK, not a comparison of its trading conditions. Do not deposit money or share payment details with a firm on the basis of its name, website or contact information alone. Check that the exact firm and the services it proposes to provide are covered by an FCA authorisation. The FCA recommends using the contact details shown in its Firm Checker if a financial business contacts you unexpectedly.

Global Pip Markets was among a group of warnings covered by FX110. The publication reported that the FCA added 12 warnings between 28 October and 2 November 2026: eight concerning unauthorised operators and four concerning clone firms. FX110 included Global Pip Markets in its list of unauthorised firms. It also reported that the FCA had added 11 warnings and updated a Citibank clone alert in the preceding period, 22–27 October.

One of the other notices in that period concerned TRADE FLOW. In its 28 October warning, the FCA also said that firm was unauthorised and might be targeting people in the UK. These notices are separate warnings; the information about TRADE FLOW does not establish anything further about Global Pip Markets.

FX110 describes clone firms as businesses that copy regulatory information from genuine firms to appear legitimate, and says the named genuine firms and funds were not connected to the clones in those notices. That context reinforces the need to verify a firm’s identity and permission directly rather than relying on a similar name or copied regulatory details.

The FCA directs consumers to its Firm Checker to confirm whether a financial firm is authorised and has permission to provide the service being offered. Compare the firm’s identity and contact details with the FCA’s information, and use the contact details in the checker if you need to respond to an unexpected approach. The FCA also advises consumers to report a suspected approach by an unauthorised firm through its contact form or by calling 0800 111 6768.

The FCA notes that people who sent money to a fraudster on or after 7 October 2024 may be covered by protections introduced by the Payment Systems Regulator. The notice presents this as a possible protection, not an assurance of reimbursement; anyone affected should check the regulator’s guidance on what to do after a payment to a scam account.