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UK’s FCA warns NBLFX forex broker is a clone

UK’s financial markets and services regulator, the Financial Conduct Authority (FCA), has warned that the forex broker NBLFX and more precisely – its owner Niru Bala/Numex Foreign Exchange Corporation (UK) Ltd – is a clone of an FCA-regulated company.


The FCA licensed company Numex Foreign Exchange Corporation is operating the forex brokerage NumexFX, which does not appear to be currently active. Nevertheless, the company has a proper FCA license, as per the official registry.


As most clones, this one is mixing the information of the genuine company. Niru Bala and the NBLFX brokerage are using the name, street address, the FCA license number and the phone number of the regulated company, thus misleading their potential clients. Our check on the site of the clone revealed that at a closer look they are doing a poor job of this, as they are confusing FCA with FSA, the terminology is not exactly right, the English is pretty bad (think Google Translate) and there are some glaring discrepancies. Either way, NBLFX appears to be targeting mostly Chinese-speaking clients and most likely is managing to confound some of them.


As always, we strongly advise our readers to do proper research on the company before opening an account, giving out any personal information and money and to check carefully the registries of the relevant financial authorities.


TAGS: fca  uk  nblfx  clone numex 
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