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Clone Broker
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Regulation
Beware of New Clones of These Three Popular FX/CFD Brokers
2024-09-09T11:43:00.282+02:00
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.
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Damian Chmiel
Retail FX
Belgian Regulator Alerts on Clones of Two Popular Trading Brands
2024-05-17T10:32:20.762+02:00
FSMA has warned against nearly 40 potentially fraudulent entities.
The list includes clones of BNP Paribas and CMC Markets.
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Retail FX
Admiral Markets (Once Again) Impersonated by Fraudulent Clone, FCA Reports
2024-01-04T12:01:32.397+02:00
The clone impersonated Admirals trading brand using false details to deceive investors.
Clone firms pose serious risks, including fraud and unregulated operations.
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Retail FX
FCA Identifies Clone Firms Imitating Hargreaves Lansdown and Westpac
2023-12-27T18:06:29.894+02:00
Clone firms impersonate popular financial brands in the UK.
This time, the FCA warns against clones of a popular bank and trading company.
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Retail FX
Beware the Clone: UK Watchdog Flags Fake Spreadex Site
2023-12-22T14:21:45.677+02:00
Scammers use a domain name strikingly similar to spreadex.com.
Clone firms trick investors with false promises, leading to financial losses.
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Damian Chmiel
Retail FX
eToro Clone among Eight Entities Flagged by CNMV
2023-11-13T12:29:58.258+02:00
The Spanish market watchdog updates its warning list.
One of the entities has a name very similar to eToro.
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Retail FX
Bitpanda’s Evil Twin: How Clones Are Undermining Trust in Crypto Exchanges
2023-10-02T13:24:58.199+02:00
Bitpanda became another victim of fraudulent clone activity.
Spanish CNMV urges retail traders to exercise extreme caution.
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Retail FX
Beware the Doppelganger: UK FCA Exposes Fake BUX Trading Platform
2023-09-19T10:21:35.680+02:00
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.
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Retail FX
Consob Blocks Access to Clone Sites of E*TRADE and ActivTrades
2023-06-29T11:08:14.544+02:00
The number of clones has increased significantly in 2023.
Last week, CySEC and the FCA also warned against clone companies.
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Retail FX
FCA Warns against eToro Clone Misusing License Number
2023-06-21T14:05:47.787+02:00
The warning was issued against ExpoToro and TraToro.
This has been another clone of a popular social trading platform in recent years.
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Damian Chmiel
Retail FX
Nadex Clone and Three Other Sites Blocked by Consob
2023-05-26T10:25:17.440+02:00
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.
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Retail FX
UK FCA Warns against Clone of FX Broker Axi
2023-02-02T17:11:31.314+02:00
AxiCorp owns both Axi and One Financial Markets.
The FCA clamped down on a number of clone companies in 2022.
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Solomon Oladipupo
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Brokers
UK FCA Issues Warning on Auxi Market
2022-05-13T19:27:00.000+02:00
The broker is targeting people in the UK without authorization.
The firm claims to be regulated by the FCA.
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Felipe Erazo
Institutional FX
UK FCA Warns on Trading Firm Etradefxlive
2022-04-05T23:13:00.000+02:00
The firm is allegedly impersonating E*TRADE.
The company is not authorized by the FCA to target people in the UK.
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CryptoCurrency
UK FCA Warns on Clone Firm AZOptions
2022-03-31T21:43:00.000+02:00
The clone firm is allegedly using legit details from Octopus Investment Limited.
AZOptions is not regulated in the United Kingdom.
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Felipe Erazo
Regulation
UK Consumers Lost £78 Million in Clone Firm Investment Scams
2021-01-27T12:49:16.000+02:00
The FCA mentioned that the consumers lost £45,242 each on average in fraudulent clone firms.
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Bilal Jafar
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Regulation
Securities Commission of Malaysia: Clone Scams are on The Rise
2020-05-29T14:29:14.000+02:00
A number of licensed entities have lodged reports claiming their identities have been cloned.
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Celeste Skinner
Regulation
FCA Remains Vigilant, Warns Against Clone Firm Goldmans Banc
2020-02-10T14:07:24.000+02:00
The regulator states that Goldmans Banc is a clone firm of GMB Portfolio Services Limited.
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Regulation
FCA Flags Capital International Management Company
2020-01-31T13:04:45.000+02:00
The British regulator warned that the entity is a clone firm of an authorized EEA firm.
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Brokers
Dukascopy Bank Denies Any Ties to Unitrade Enterprises
2019-12-13T22:13:14.000+02:00
UNITRADE ENTERPRISES is fraudulently using Dukascopy's name for attracting clients, without the group's permission.
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Aziz Abdel-Qader
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Regulation
FCA Spots BNP Paribas Clone, As Scams Continue to Rise
2019-09-27T13:37:46.000+02:00
According to the warning, the entity has copied the name and some of the details of the legitimate company.
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Regulation
AFCA Receives Complaints Against Forex Financial Services
2019-08-16T10:05:00.000+02:00
Consumers complained that an entity by the name of Forex Financial Services has been withholding funds.
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Brokers
ASIC Adds 5 Unauthorized FX & Crypto Firms to its Blacklist
2019-08-02T11:10:05.000+02:00
The regulator suspects that the entities may be involved in some kind of scam.
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Regulation
FCA Uncovers Clone Firms Targeting Online Broker Darwinex
2019-07-31T07:55:08.000+02:00
The clone firms have copied Darwinex's website design and FCA Firm Reference Number.
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Regulation
M.Success FX is Not Associated with Equiti UK, FCA Warns
2019-06-27T11:23:52.000+02:00
The clone firm claims that Equiti Capital UK is part of the “mace group”.
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