Ofcom
Cold call investment scams
Ofcom says legitimate investment firms do not cold-call members of the public and advises hanging up on unsolicited investment calls.
An unexpected phone call offering a trading opportunity is a pattern UK regulators have warned about. This page summarises what Ofcom and the Financial Conduct Authority (FCA) have published about cold calls and pressure to act quickly. It does not assess any firm.
What Ofcom Says About Cold Calls
On its page about cold call investment scams, dated 15 July 2026, Ofcom states: "Legitimate investment firms do not cold-call members of the public." It describes the tactics used: "These scams use high-pressure tactics and promises of high returns to push you into a quick decision."
Ofcom also says: "Genuine callers will not pressure you to act immediately."
What the FCA Says About Unexpected Contact
On its guidance page "Protect yourself from scams", first published on 8 August 2017 and last updated on 19 January 2026, the FCA states: "Scammers often call out of the blue." The FCA advises: "Treat all unexpected calls, emails and text messages with caution."
On pressure, the FCA says: "Hang up on calls and ignore messages if you feel pressured to act quickly." It adds: "A genuine bank or business won’t mind waiting if you want time to think." The FCA also notes that scammers may approach by email, text, post, social media or in person, so the same caution applies beyond phone calls.
What Both Regulators Suggest You Do
Ofcom's advice is short: "If you receive an unsolicited investment call, hang up." It then says: "Check whether the firm is authorised on the Financial Conduct Authority register before doing anything." The checking steps are in how to check whether a broker is regulated.
Ofcom's final step is: "Report investment scams to Report Fraud." For other reporting routes, see how to report a binary options scam. For the wider list of tactics regulators describe, see binary options scam warning signs. In the UK, retail binary options sales are prohibited; see our guide to binary options in the United Kingdom.
Frequently Asked Questions
Do legitimate investment firms cold-call people?
Ofcom states: "Legitimate investment firms do not cold-call members of the public."
What does Ofcom say to do with an unsolicited investment call?
Ofcom advises: "If you receive an unsolicited investment call, hang up."
How does the FCA describe pressure to act quickly?
The FCA says: "Hang up on calls and ignore messages if you feel pressured to act quickly."
Does this page address whether an individual could face liability?
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
Sources and Official References
- Ofcom: Cold call investment scams (date shown on page: 15 July 2026)
- FCA: Protect yourself from scams (first published 8 August 2017; last updated 19 January 2026)
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.