Another website that is imposting as a well respected firm is catering to new customers in the Asia-Pacific region. This time it is called Cantor Forex Markets and the Hong Kong regulator, the Securities and Futures Commission (SFC) has proclaimed on its website that there is no connection between the alleged Cantor Forex Markets website to the investment bank Cantor Fitzgerald.
Just a couple of weeks ago in a similar occurrence there has been a report from CySEC about a couple of other imposter websites, however in this case the entity that is behind the website is not even remotely pretending to be any other entity but the decades old Cantor Fitzgerald. The about section of the website is essentially the wikipedia page of the investment bank and the main focus of potential victims is accentuated to the decades of experience and the bank’s loyalty to its customers.
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While we are no customers of either Cantor Fitzgerald nor the imposter website Cantor Forex Markets we can certainly identify that the SFC of Hong Kong has accurately pointed out that there is no connection whatsoever between the two. Meanwhile a strategy worth noting is to remain vigilant as to which brokerage is worth a customer’s trust.
Checking regulatory websites is the primary methodology to prevent clients from dealing with a fraudulent entity. In addition any deals that simple sound to be too good to be true, are most likely not true. Copycat websites are relatively easy to manufacture and inexperienced users can easily fall into a trap with entrusting their funds to an unknown and fraudulent entity.
The SFC warns individuals to avoid disclosing personal information to questionable entities as that can be later used for further misconduct.