A clone uses a real firm's name and number with someone else's contact details
A clone firm copies the name, address and reference number of a genuinely authorised firm, then supplies its own phone number, email address or website. Search the register and you will find a real firm with that number. The problem is that the person contacting you does not work for it.
The test is therefore not "does this licence exist?" but "do the website, phone, email and payee I was given match the ones the regulator lists?"
- How clones operateWhat the FCA says they copy
- Checking a UK firmSix steps with Firm Checker
- Checking a US firmNFA BASIC and the RED list
- I have already paidWhat to do first
1. What clones copy and change
| Element | What the FCA describes FCA guidance |
|---|---|
| Identity | The name and address of a genuine firm and its firm reference number (FRN) |
| Website | A copy of the authorised firm's site with small changes such as the phone number; or a link to the genuine site with different contact details |
| Addresses that look like the real firm's, or free providers such as Outlook or Gmail | |
| Excuses | Claims that the register details are out of date, which the FCA calls unlikely because it updates them on average every 24 hours |
| First contact | Unexpected calls or emails, newsletters, social media, or after you submit an online enquiry |
2. Checking a UK firm in six steps
- Search the Firm Checker by name.Type the FCA address yourself rather than following a link.
- Select the product or service.Confirm the firm has permission for it.
- Confirm the status is authorised.Not just "registered" for something unrelated.
- Compare every contact detail.If none is listed, or you are told the listing is outdated, call the FCA on 0800 111 6768.
- Verify independently.Reach the firm through details you find yourself, such as directory enquiries or Companies House, and ask whether the person contacting you works there.
- Check the web address character by character.Small spelling changes can signal a fake site. FXCN's clone domain check compares a domain against the official sites we have recorded.
3. Checking a US firm
- NFA BASIC shows whether a firm is registered, its NFA membership and disciplinary history. Individuals who solicit retail forex orders must be registered as associated persons and approved as forex APs.
- The CFTC RED list names foreign entities that appear to solicit US residents without required registration. The CFTC says listing is not a finding of violation, and advises checking registration even for firms not on the list.
4. Record sheet to compare against the register
Date and time of first contact: Channel (call / email / social / ad): Firm name and reference number given: Website address given (exact): Phone and email given: Register entry URL and date checked: Register website, phone, email: Do all contact details match? Yes / No Payee name and account requested: Independent call to the genuine firm: date, outcome
5. If you have already paid
- Stop further payments.Including any "release", "tax" or "insurance" fee.
- Call your bank or card issuer.Use a number from your card or statement.
- Keep evidence.Messages, web addresses and receipts.
- Report it.In the UK, tell the FCA and Report Fraud (0300 123 2040); in the US, NFA accepts complaints through its website.
- Expect a second approach.The FCA warns that recovery scams target people who have already lost money, often posing as the FCA or police.
6. Frequently asked questions
The firm is on the register. Can it still be a clone?
Yes. Clones borrow real, registered firms. Compare contact details, not just the name and number.
They sent me a register screenshot.
A screenshot cannot show the contact details belong to the caller. Search the register yourself.
Does FXCN publish clone warnings?
Yes, verified regulator notices appear under warnings.
Sources and open items
- FCA: Clone firms and individuals (updated 14 May 2025).
- FCA: Protect yourself from scams (updated 19 January 2026).
- FCA: Recovery room scams.
- NFA: Registration and membership; CFTC RED list release.