Fraudsters Impersonating Plus500 Offer Trading Services to UK Investors

On September 5, the UK Financial Conduct Authority (FCA) issued a warning against a clone broker impersonating the legitimate trading platform Plus500.

The service provider warned by the FCA offers financial services to the public through the website “p500.online.” On this site, fraudsters claim to be a strictly regulated CFD broker licensed by multiple global financial regulators.

However, the website not only misappropriates the trademark of the regulated broker Plus500, but also displays the broker’s regulatory information in a deliberate attempt to deceive visitors into believing it is affiliated with Plus500.

According to the FCA, the warned platform is a 'clone' of the licensed firm Plus500UK Ltd and is not authorized to offer financial services or products within the UK.

The regulator also cautioned that scammers may display other false information or mix misleading details with legitimate company information to confuse consumers. Contact details may also change over time.

BrokersView reminds you

The Financial Conduct Authority (FCA) is the UK’s financial regulator, responsible for overseeing financial markets, ensuring consumer protection, and maintaining fair competition within the industry.

Plus500 is a Forex and CFD broker regulated by the FCA. In addition to FCA oversight, the company is also supervised by several other reputable financial regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and New Zealand’s Financial Markets Authority (FMA), among others.