The practice of cloning, which is used by fraudulent companies that misuse data of legitimate businesses to lure investors more easily, keeps gathering pace.
The Financial Conduct Authority (FCA) earlier today published a warning about GGM Forex aka Gekko Global Markets Ltd which abuses the details of Forex broker Ayondo Markets, a licensed company in the UK.
The UK regulator warns that the fraudsters are claiming to work for Ayondo while in reality they have no association with the authorized firm.
Below are the details of the two companies, so that investors could stay away from the “clone”.
Clone firm details
GGM Forex – Gekko Global Markets Ltd (clone of FCA authorised firm)
Telephone: +44 30696841 / +44 (0)198 5540 2269
Website: https://ggmfx.com/
Email: [email protected]
FCA authorised firm details
Name: Ayondo Markets Limited
FRN: 184333
Address: Floor 4, Audrey House, 16-20 Ely Place, London EC1N 6SN
Telephone: +44 (0) 20 3326 2130
Website: www.ayondo.com
To view the original warning by the FCA, click here.