FCA Alerts Investors to OneTrade Imposter Brokerage

The Financial Conduct Authority (FCA), the United Kingdom's regulatory authority, has alerted local investors that OneTrade brokerage appears to have another company deliberately and illegally identifying under the same name. The British regulator further warns that only the original Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term firm is authorized to offer financial services in the United Kingdom.

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According to the warning on the FCA’s website, the clone company has assumed the name of the registered firm. This tactic is how illegitimate brokers fool clients, drawing in individuals unaware of the scam. The FCA has also advised against funding an account and trading with any unlicensed broker, as there is an elevated risk of the latter running a scam operation.

Clone companies are a growing trend, and the FCA has been involved in exposing unauthorized companies’ true identity. Last Thursday, the British financial watchdog issued a warning against a clone broker impersonating Blackrock Asset Management UK Limited. The changes the clone firm made were quite subtle, such as dropping the ‘UK Limited’ from the brand’s name, and changing the website address from .com to - .ga.

Last week, the FCA issued a warning against a company which had been identifying itself as ADS Securities, a Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs brokerage that is well-known in Europe and the Middle East. The week before that, a clone of Forest Finance drew the attention of the regulator.