Beaufort Securities Review – Disastrous Investment Firm Not Authorized Anymore

If you’ve been in the investment business long enough, you must have heard of the famous Beaufort Securities. Established back in 2012, this once genius investment platform was changing the course of virtual finance business. Initially an independent stockbroker, Beaufort Securities was operating as a private investment house. 

There are several areas of expertise that this firm used to cover with their diverse offer of services. For example, since the incorporation, Beaufort Securities provided online share dealing, advisory stockbroking and CFD trading, enterprise investment schemes and international trading. And these are just some of the more notable activities. All that performed under the watchful eye of FCA. 

However, as of 19/02/2021, this company is no longer authorized to provide their services and sell their products. FCA has made that very clear in their public warning. For over two years, Beaufort Securities has been operating without being properly regulated. 

How could such a reputable company allow a course of events to unfold and spoil their reputation? Two years is a long time, and it seems like Beaufort Securities doesn’t even intend on renewing their license anytimes soon. This basically puts them in the same basket with any other unregulated investment platform, like AXNEB, for example.

Our Beaufort Securities review dives deep into the whole affair and brings you nothing but raw facts and an unbiased assessment of this UK-based company.

Legal info: Is Beaufort Securities Regulated? 

At the time of writing this review, Beaufort Securities was already operating without a FCA authorization for more than two years. Although the company had a relatively successful run, numerous complaints by customers, fining and legal investigations and accusations were seriously damaging this company’s reputation and budget. The website still lists the following license number: 155104. But if you run a scan of the FCA database, it will tell you it’s old and expired on 19/02/2021.

Beaufort Securities has had several major financial collapses, which has resulted with over 17 000 customers losing deposits, pensions and other types of assets. Thanks to the actions of the Financial Services Compensation Scheme, the victims were refunded. You can read more about the whole deal here: https://www.fscs.org.uk/making-a-claim/failed-firms/beaufort/

However, the firm had to be fined twice for multiple breaches of the strict FCA regulatory standards. As of 2019, the problems which have irreparably ruined the company have started. It appears that the Beaufort Securities leadership was engaged in illegal business moves, which have cost the company more than they could afford to lose. Customers were reporting issues from withdrawal problems to funds disappearing completely. 

This whole charade lasted for several years. Even after being fined, Beaufort Securities didn’t proceed to conduct their business fair and square. Problems persisted and the fraudulent behavior has led the company to becoming another unlicensed financial services provider that the authorities have warned investors about:

• FCA

• FSMA

• FINANSTILSYNET

Since Beaufort Securities is apparently unregulated and has broken the regulatory rules multiple times causing thousands of customers to lose funds, we do not recommend them for any kind of investment. 

Who are Beaufort Securities’ victims?

The firm no longer being regulated means we cannot refer to their customers as such, but rather victims. This unscrupulous firm has been in the business for a long time. Domain itself was established in 2012, but the company has been active almost for a quarter of a decade. They’ve had plenty of time to form their wide user base. 

Special help in that was the fact that they employed numerous experts in different fields of investment business that could bring in interested investors. Since all of their agents were quite prominent in people skills and knowledgeable of the market flow, dragging in victims wasn’t all that hard. Especially because the firm had to offer such diversity of services and products, along with quite a few benefits for the more active customers. 

Impeccable customer support had enough mankind and resources to always diligently respond and be of service to each individual user. This had been one of the main strategies to instigate trust and willingness of the investors to put their hard-earned money into some of the cash-eating projects.

Unfortunately for all those that have invested their entire pension fund, life-savings or college money reserves, not much of the projects paid out. As mentioned, most of the customers had to take legal action against the company. The majority of these victims were coming from these countries:

• United Kingdom
• United States
• India

Leverage, Fees and Spreads

In the domain of online share dealing, clients are obligated to pay a fee of £8 for online, telephone and iPhone trades. There are no fixed management fees and no hidden costs. As for the leverage and spreads, we could not access the information on the website, with an assumption that only registered and live accounts users can get to that information from inside of the platform. Typical of the fraudulent financial conducts not to be completely clear on how every step of the way is outlined.

As for the Enterprise investment scheme fees and taxes, the firm claims to provide Capital Gains Tax exemption on any profits and up to 30% Income Tax relief to a maximum of £300,000 in a year.

Beaufort Securities.com Products and Services 

Beaufort Securities International Trading desk is claimed to make customers eligible for accessing the world markets 24/7. By providing a wide range of currencies to trade on all global markets, the platform supposedly helps traders diversify their portfolio. However, the only two groups of financial instruments offered on the website itself are:

• Currency Pairs (EUR/USD, EUR/GBP, USD/GBP)
• Commodities (Gold, Silver, Oil, Copper, Corn)

Is Profit Withdrawal Possible?

As FSCS has reported, more than 17 000 investors had major problems with funds withdrawal at Beaufort Securities. Another disturbing issue was that entire funds or invested capital were disappearing. All of the victims were facing these two major issues. This inevitably leads us to believe withdrawals are next to impossible with this firm without the legal help. 

The company itself is very vague about many aspects of the conduct and safe withdrawals are one issue that concerns us the most. Providing insufficient documents explaining the process to the investors is one thing. But completely denying payouts or rejecting the withdrawal attempts for no reason is the real reason to worry about. 

  If you’ve read our review on SSC Investment, a common investment fraud, you know what kind of difficulties you can expect with the likes of them. So do contact us promptly, if you believe you need legal help and advice in restoring your funds.

Customer Support

Beaufort Securities doesn’t have an active online chat feature that connects you to a support agent directly. Despite that lack, several channels are open for communication. 

The platform has offices in 5 cities: London, Bristol, New Castle and Colwyn Bay. For each of the offices, you can preview the physical address on the website itself. Besides that, each of the representative workplaces has a distinctive email address and a phone number that links you to a particular department.

Finally, there’s also an online form that you can fill and send to the customer service and get your response on your email address. 

Key Information To Consider About Beaufort Securities 

After learning all about the disturbing case of Beaufort Securities and how many people they’ve scammed, it wouldn’t shock us to hear that members of our audience are experiencing issues with this unlawful firm. What is important for you to know is that you’re not alone with your problem. Numerous other honest investors have had difficulties withdrawing funds from this firm. 

So do not feel ashamed if you’ve been scammed or your funds misused by the company. There’s ways to reverse the process and recover what was stolen from you. All you have to do is contact us promptly and describe your problem. Do not worry, as the first consultation is always free. We do not wish to waste your time if you cannot help you. However, chances are – we very much can. So let’s chat and figure out how to take back your capital as quickly as possible!