Admiral Markets Warns Public to Beware of Fake Clone Website

Admiral Markets, a multi-regulated FX and CFDs brokerage firm, on Thursday said it believes that a ‎cryptocurrency ‎trading provider has been falsely claiming affiliation with its ‎FCA-‎authorised brand, Admiral Markets UK Ltd.‎

The clone entity operates under the domain name https://admiral-markets.com/FR/, which prompted action from the regulated company. Admiral Markets confirmed that it has no association whatsoever with ‎the aforementioned website and advised everyone to avoid it entirely.‎

The fraudulent crypto brand is indeed attempting to mislead investors into ‎thinking that it is offering ‎a ‎‎legal product by using the ‎details of an authorized firm operating under a similar name.‎ It also claims to be ‎licensed by the FCA, ‎using the regulated firm’s registered ‎address and making reference to its ‎actual website, a typical move for a scam ‎company to gain the ‎trust of unsuspecting clients.

Admiral Markets ‘Real’ Crypto Offering

Admiral Markets has recently enhanced its cryptocurrency CFDs offering. The firm has once again expanded its virtual coins list to include Dash, Monero, and Zcash. The ‎‎introduction of new instruments adds to its rapidly expanding suite of ‎cryptos, ‎following strong demand from clients over the past few months.‎

The original company, Admiral Markets (UK) Ltd, is licensed by the UK ‎Financial ‎Conduct Authority (FCA) to offer a set of financial services and ‎also approved to ‎provide cross-border services across the EU / EEA under ‎European passport rights.‎

In its statement, Admiral Markets was keen to spell out to ‎investors the risks of dealing with fraudulent providers. It further stated: ‎”This company has also been publishing ads on social media and have active sales staff following up with people who register on their website. Admiral Markets is not associated with nor related to this Clone Clone A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for Read this Term website and strongly advises everyone to avoid it entirely. Admiral Markets has taken actions with relevant regulators, as the clone website appears to be a fraud.”