Thinking of getting advice on crypto or investing? It’s a smart move,  but only if you’re speaking to someone you can trust. Sadly, not everyone who calls themselves a “financial adviser” is genuine.

Some are unregulated individuals or outright scammers who may push you into high-risk or fake investments. That’s why the FCA urges all consumers to check who they’re dealing with before making any financial decisions.

Why does it matter?

If you take advice from someone who isn’t authorised by the Financial Conduct Authority (FCA), you may be:

• Left with no protection if something goes wrong
• Exposed to fraudulent schemes or scams
• Encouraged to invest in high-risk or fake products
• Unable to recover any lost funds
   

At worst, you could lose all your money,  and be left with nowhere to turn.

Common red flags

Be cautious if someone:

• Claims to offer guaranteed or very high returns
• Pressures you to act quickly or “before the opportunity disappears”
• Tells you they don’t need to be FCA-authorised
• Asks you to transfer funds to unusual or offshore accounts
• Offers to manage your crypto or open accounts on your behalf

These are tactics often used in “boiler room” scams and unauthorised investment schemes.

How to protect yourself

Check the FCA Register
Before you speak to anyone about investing, you should check that the advisor or asset manager is on the FCA Register, or check that the crypto business/exchange is an FCA Registered Cryptoasset firm. If the individual or business is not authorised and regulated by the FCA then you are unlikely to have any protections.

Verify the details
Even if someone appears on the register, make sure their contact information matches what’s listed. Scammers sometimes impersonate real firms (known as “clone firms”).

Avoid unsolicited advice
If someone contacts you out of the blue, via email, phone, or social media, it's best to ignore or report them.

Never share your login details or crypto access
No legitimate adviser should ever ask for your passwords, seed phrases, or direct access to your wallet or trading account.

Gemini’s commitment

We’ll never recommend outside advisers or encourage you to hand over control of your account. If something feels off, stop and contact our support team.

Stay smart, stay safe — and always double-check before making financial decisions. Learn more from the FCA on how to avoid investment scams and how to check if someone is authorised.

Need help or have a concern? Get in touch with Gemini Support.