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Regulation

Beware of New Clones of These Three Popular FX/CFD Brokers

  • Spanish CNMV updates its warning list with copycats of AvaTrade, LCG, and JFD.
  • Despite the intense efforts of regulators and companies, the issue of clones seems unsolvable.
Monday, 09/09/2024 | 09:43 GMT by Damian Chmiel
Retail FX

Belgian Regulator Alerts on Clones of Two Popular Trading Brands

  • FSMA has warned against nearly 40 potentially fraudulent entities.
  • The list includes clones of BNP Paribas and CMC Markets.
Friday, 17/05/2024 | 08:32 GMT by Damian Chmiel
Retail FX

Admiral Markets (Once Again) Impersonated by Fraudulent Clone, FCA Reports

  • The clone impersonated Admirals trading brand using false details to deceive investors.
  • Clone firms pose serious risks, including fraud and unregulated operations.
Thursday, 04/01/2024 | 10:01 GMT by Damian Chmiel
Retail FX

FCA Identifies Clone Firms Imitating Hargreaves Lansdown and Westpac

  • Clone firms impersonate popular financial brands in the UK.
  • This time, the FCA warns against clones of a popular bank and trading company.
Wednesday, 27/12/2023 | 16:06 GMT by Damian Chmiel
Retail FX

Beware the Clone: UK Watchdog Flags Fake Spreadex Site

  • Scammers use a domain name strikingly similar to spreadex.com.
  • Clone firms trick investors with false promises, leading to financial losses.
Friday, 22/12/2023 | 12:21 GMT by Damian Chmiel
Retail FX

eToro Clone among Eight Entities Flagged by CNMV

  • The Spanish market watchdog updates its warning list.
  • One of the entities has a name very similar to eToro.
Monday, 13/11/2023 | 10:29 GMT by Damian Chmiel
Retail FX

Bitpanda’s Evil Twin: How Clones Are Undermining Trust in Crypto Exchanges

  • Bitpanda became another victim of fraudulent clone activity.
  • Spanish CNMV urges retail traders to exercise extreme caution.
Monday, 02/10/2023 | 11:24 GMT by Damian Chmiel
Retail FX

Beware the Doppelganger: UK FCA Exposes Fake BUX Trading Platform

  • FCA has warned against Trader BUX Markets.
  • As it turns out, it is the second clone of BUX in the UK within the last 12 months.
Tuesday, 19/09/2023 | 08:21 GMT by Damian Chmiel
Retail FX

Consob Blocks Access to Clone Sites of E*TRADE and ActivTrades

  • The number of clones has increased significantly in 2023.
  • Last week, CySEC and the FCA also warned against clone companies.
Thursday, 29/06/2023 | 09:08 GMT by Damian Chmiel
Retail FX

FCA Warns against eToro Clone Misusing License Number

  • The warning was issued against ExpoToro and TraToro.
  • This has been another clone of a popular social trading platform in recent years.
Wednesday, 21/06/2023 | 12:05 GMT by Damian Chmiel
Retail FX

Nadex Clone and Three Other Sites Blocked by Consob

  • None of these platforms is authorized to operate in Italy or any other EU country.
  • Consob blocked almost 900 websites in the last three years.
Friday, 26/05/2023 | 08:25 GMT by Damian Chmiel
Retail FX

UK FCA Warns against Clone of FX Broker Axi

  • AxiCorp owns both Axi and One Financial Markets.
  • The FCA clamped down on a number of clone companies in 2022.
Thursday, 02/02/2023 | 15:11 GMT by Solomon Oladipupo
Brokers

UK FCA Issues Warning on Auxi Market

  • The broker is targeting people in the UK without authorization.
  • The firm claims to be regulated by the FCA.
Friday, 13/05/2022 | 17:27 GMT by Felipe Erazo
Institutional FX

UK FCA Warns on Trading Firm Etradefxlive

  • The firm is allegedly impersonating E*TRADE.
  • The company is not authorized by the FCA to target people in the UK.
Tuesday, 05/04/2022 | 21:13 GMT by Felipe Erazo
CryptoCurrency

UK FCA Warns on Clone Firm AZOptions

  • The clone firm is allegedly using legit details from Octopus Investment Limited.
  • AZOptions is not regulated in the United Kingdom.
Thursday, 31/03/2022 | 19:43 GMT by Felipe Erazo
Regulation

UK Consumers Lost £78 Million in Clone Firm Investment Scams

  • The FCA mentioned that the consumers lost £45,242 each on average in fraudulent clone firms.
Wednesday, 27/01/2021 | 10:49 GMT by Bilal Jafar
Regulation

Securities Commission of Malaysia: Clone Scams are on The Rise

  • A number of licensed entities have lodged reports claiming their identities have been cloned.
Friday, 29/05/2020 | 12:29 GMT by Celeste Skinner
Regulation

FCA Remains Vigilant, Warns Against Clone Firm Goldmans Banc

  • The regulator states that Goldmans Banc is a clone firm of GMB Portfolio Services Limited.
Monday, 10/02/2020 | 12:07 GMT by Celeste Skinner
Regulation

FCA Flags Capital International Management Company

  • The British regulator warned that the entity is a clone firm of an authorized EEA firm.
Friday, 31/01/2020 | 11:04 GMT by Celeste Skinner
Brokers

Dukascopy Bank Denies Any Ties to Unitrade Enterprises

  • UNITRADE ENTERPRISES is fraudulently using Dukascopy's name for attracting clients, without the group's permission.
Friday, 13/12/2019 | 20:13 GMT by Aziz Abdel-Qader
Regulation

FCA Spots BNP Paribas Clone, As Scams Continue to Rise

  • According to the warning, the entity has copied the name and some of the details of the legitimate company.
Friday, 27/09/2019 | 11:37 GMT by Celeste Skinner
Regulation

AFCA Receives Complaints Against Forex Financial Services

  • Consumers complained that an entity by the name of Forex Financial Services has been withholding funds.
Friday, 16/08/2019 | 08:05 GMT by Celeste Skinner
Brokers

ASIC Adds 5 Unauthorized FX & Crypto Firms to its Blacklist

  • The regulator suspects that the entities may be involved in some kind of scam.
Friday, 02/08/2019 | 09:10 GMT by Celeste Skinner
Regulation

FCA Uncovers Clone Firms Targeting Online Broker Darwinex

  • The clone firms have copied Darwinex's website design and FCA Firm Reference Number.
Wednesday, 31/07/2019 | 05:55 GMT by Celeste Skinner
Regulation

M.Success FX is Not Associated with Equiti UK, FCA Warns

  • The clone firm claims that Equiti Capital UK is part of the “mace group”.
Thursday, 27/06/2019 | 09:23 GMT by Celeste Skinner
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