Dukascopy Exposes ‘Russian Clone’ Impersonating its Brand

The company says dukas-broker is fraudulently using Dukascopy’s name and logo for attracting clients/investors.

Switzerland’s forex bank and broker, Dukascopy, today warned against a Russian-focused ‎cryptocurrency and FX ‎trading provider that has been falsely claiming affiliation with its ‎authorized brand.‎ The clone entity, operating through http://dukas-broker.ru/, prompted action from the regulated company.

Dukascopy confirmed that it has no association whatsoever with ‎the aforementioned website and advised everyone to avoid it entirely.‎

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The company added that dukas-broker is fraudulently using Dukascopy’s name and logo for attracting clients/investors. “Dukascopy Europe informs about its website fraudulent clone on the domain dukas-broker.ru. Please be aware that this website is not controlled and does not belong to Dukascopy Europe or any other entity of Dukascopy group.,” the broker said.

Dukascopy Clone

The forex bank stated that it’s taking actions against this dishonest organization. “Do not trust any information on the website dukas-broker.ru. This website and all information provided on this webpage is [a] SCAM. Do not provide any personal data on this website,” it added.

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The fraudulent 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.‎ However, investors should be aware that the original company is not available to help in recovering funds if the unauthorized entity scammed them.

Dukascopy report flat metrics

Last month, the Geneva-based broker reported its financial metrics for H1 2019 which showed a slight decrease in its operating revenues, coming in at $14.23 million (CHF 13.98 million) – this figure is almost unchanged from CHF 13.99 million reported back in the same period a year ago.

Dukascopy has been taking steps towards strengthening its budding cryptocurrency offering, including allowing clients to deposit and withdraw funds in digital coins, as well as enabling free internal crypto-transfers between users of mobile banking.

Dukascopy also plans to offer the custody service for Dukascash tokens, whilst it will accept Dukascash tokens from its clients, as a payment for its services, at the exchange rate of 1:1 to the fiat base currency.

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