FCA Alerts Public to FXOpen Finance Clone Scam

FCA Warns of FXOpen Finance Clone Scam Targeting UK Investors

The UKs Financial Conduct Authority (FCA) has issued a public warning about a clone investment scam involving a fake firm called FXOpen Finance, which fraudulently impersonates the FCA authorised FXOpen Ltd. This fraudulent entity is deceiving investors with bogus contact details and websites that mirror those of the genuine company.

Clone Scam Details and Risks

The rogue FXOpen Finance scam uses a website, https://fxopenfinance.uk/, alongside potentially fake email addresses, telephone numbers, postal addresses, and firm reference numbers that are often changed to evade detection. Fraudsters mix these fabricated details with the authentic information of the FCA authorised firm FXOpen Ltd to mislead victims into believing the clone is legitimate.

The genuine authorised firm, FXOpen Ltd, holds the FCA Firm Reference Number 579202 and is registered at 80 Coleman Street, London, EC2R 5BJ. Investors should only trust communication from FXOpen Ltds official contact points, including their verified email compliance@fxopen.co.uk and telephone number +44 203 519 1224. Their authentic website is www.fxopen.co.uk.

This scam reflects a wider trend of clone investment firms and fraudulent trading websites preying on UK traders seeking forex investments, creating significant risks of financial losses for unsuspecting victims.

Additional Rogue Trading Websites to Watch For

The FCA has also highlighted other similar fraudulent operators using fake or misleading UK contact details, including but not limited to:

• ROBOTRADE (robotrade.vip), Birmingham-based contact +44 7795 959667
• The Crypto Invest, emailing thecryptoinvest1@gmail.com
• Aroha Tradex (aroha-tradex.net)
• Q Savings claiming association with the old Quantock Savings Bank
• RevalixTrader, PlexyTrade, Lumine Tradeline, Cloud Invest, Crypto Bank, and SolavexTrader

These entities often manipulate their contact information to appear credible, sometimes borrowing details from genuine businesses or individuals, thus complicating the verification process.

How to Protect Yourself

Investors in the UK forex and investment markets should verify any firms regulatory status before engaging in trading activities. The best approach is to:

1. Check the FCA register to confirm if a firm is genuinely authorised by reviewing the official Firm Reference Number.
2. Be cautious of firms that use contact details inconsistent with official records or that frequently change addresses and phone numbers.
3. Avoid responding to unsolicited offers or communications from firms with unverified reputations.
4. Use trusted tools like the WikiFX app to research brokers and check for any negative complaints or warnings before investing.

About FXOpen

FXOpen Ltd is a UK-based, FCA authorised firm specialising in forex and CFD trading. It is recognised for its regulated services and transparent operations, serving a wide base of retail and institutional clients worldwide.

Always check the brokers negative cases on the WikiFX app before trading. Scan the QR code below to download and install the app on your smartphone.