Regulatory evidence event · Financial Conduct Authority
FCA guidance on forex trading scams and clone firms
The FCA warns that unauthorised forex and brokerage firms may promise high returns or guaranteed profits. Clone operators may copy an authorised firm name, FRN and address while substituting their own phone number or website.
consumer_alert
Fact status: confirmed
Source tier: A
Confirmed facts
- The FCA page was first published on 9 August 2017 and shows its latest update as 19 January 2026.
- The regulator says scams may show initial returns, then press for more money before withdrawals or contact stop.
- The FCA specifically warns that clones copy a real firm name, FRN and address but substitute phone or website details.
What the user should do
Use the FCA Firm Checker to confirm permission for the specific service. For unexpected contact, call back using details in the official record. If money has already been sent, contact the payment provider and report the matter through regulatory and fraud-reporting channels.
Scope of the finding
This is general consumer risk guidance, not an allegation about a particular broker. It does not replace checking the exact legal entity, product permission and protection available in the client location.
A user report or complaint never becomes a confirmed fact without independent evidence review.
Primary evidence
- First published
- 2017-08-09
- Source updated
- 2026-01-19
- FXCN checked
- 2026-08-30