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The FCA flags several clones of Darwinex

Jul 31 2019
By
Jonathan Smith

 

UK's Financial Conduct Authority (FCA) alerts investors of StockotradeFX, Ultimatecryptofx, and Tradevibefx. These websites are wrongfully using the details of Darwinex – a duly licensed broker with which the abovementioned entities are not associated in any way. Obviously, the fraudulent websites are trying to mislead investors that they are legitimate financial services providers.

 

The FCA further warns that “fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.”

 

No wonder the FCA has issued a group warning against www.tradevibefx.com, www.ultimatecryptofx.com, and www.stockotradefx.com -  all of them have copied the design of Dawinex’s website and claim to be owned by Tradeslide Trading Tech Limited. The three websites also feature the address and FRN number of the firm, with which they have no connection whatsoever.

 

We always advise our readers to look for the company names of forex and CFD brokers on their websites and to check whether the they are licensed in the respective jurisdictions. The UK financial regulator keeps a Financial Services Register, where investors can look up their (potential) broker’s name. Also, it is a good idea to do a due diligence check before you deposit and google the broker name to see whether there have been warnings against it or user complaints.

 

>> Check out a list of brokers authorized by FCA <<

 

TAGS: FCA  tockotradeFX  Ultimatecryptofx  Tradevibefx  clone firm  scam  UK  Darwinex 
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