Clone Broker Impersonates Fortrade, Warned by the UK's FCA
On November 26, the UK Financial Conduct Authority (FCA) issued a warning urging investors to be vigilant against fraudulent brokers impersonating Fortrade, a regulated financial firm, and to avoid engaging with so-called "clones."
According to the regulator, fraudsters often mislead victims by copying information from FCA-authorized firms to pose as legitimate businesses. For instance, the website fortradevip.com falsely claims to be a regulated company without an FCA license and was identified as a clone by the regulator.
The FCA emphasized that almost all firms and individuals who conduct or promote financial services in the UK must be authorized or registered with the regulator.
The clone firm's website (https://fortradevip.com/index.html) misused the brand name and logo of the genuine broker Fortrade, using "0.0 spreads" as a marketing gimmick to lure potential victims.
Furthermore, the imposter falsely claims to be a regulated platform licensed in the UK, the US, and Seychelles.
The BrokersView team verified that while the fake Fortrade claims to hold a Money Services Business license issued by the US Financial Crimes Enforcement Network (FinCEN), FinCEN is not a forex services regulator. Therefore, the alleged "US regulation" is not true.
Additionally, official records from the Seychelles Financial Services Authority (FSA) show that no company named "Fortrade" is registered as a "Securities Dealer" under Seychelles regulation. In other words, the Seychelles license claimed by the fake Fortrade does not exist.
Furthermore, this fraudulent platform uses pc.fortradevip.cc/#/ and pc.foutriaedus.cc/#/ as its web trading interfaces.
BrokersView reminds you
The genuine Fortrade Limited, holding a UK financial license, operates at fortrade.com with firm reference number 609970. Beyond the UK, Fortrade is also supervised by financial regulators in Cyprus, Australia, Canada, and Belarus.
Investors are advised to verify a broker's regulatory status through BrokersView before trading to avoid falling victim to scams.
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