LeapRate’s loyal readers must already be somewhat accustomed to the Financial Conduct Authority (FCA) issuing warnings against clones of authorized online trading companies. Some of the cases the UK watchdog tackles, however, are quite stunning and today presented us with one of these.
Representatives of Tradignition, a binary options broker soliciting UK clients, are falsely claiming to be in a partnership with London Capital Group Holdings plc (LON:LCG), an authorized company in the UK and a widely known provider of CFD and spread betting services.
The FCA warns that the approach used by Tradignition classifies it as a clone. The regulator stresses that Tradignition has nothing to do with LCG.
Clone firm details:
Tradignition (clone of FCA authorised firm)
Address: SkyOPtions Ltd, 2 Landsdowne Row, London, W1J 6HL
Telephone: 0044 20 3734 7540
Email: [email protected]
Website: www.tradignition.com
FCA authorised firm details:
Firm name: London Capital Group
FRN: 182110
Address: 2nd Floor, 6 Devonshire Square, London EC2M 4AB
Telephone: 44 20 7456 7000
Email: [email protected]
Website: www.londoncapitalgroup.com
The original text of FCA warning can be found here.