The practice of corporate cloning – fraudsters using the details of authorized firms to convince people that they work for a genuine, authorized company, keeps gaining momentum in the Forex industry.
One more piece of proof in this respect comes from the UK Financial Conduct Authority (FCA), which today published a warning regarding an unauthorized Forex broker, targeting Chinese and English-speaking clientele, while misusing the details of an investment firm regulated by the UK watchdog.
The clone firm is LondonFX, operating from www.londonfx.cn. This entity is using the former trading name of Ikon Capital Limited, a Forex broker which is authorized by the FCA. The clone entity has nothing to do with the legitimate company.
The watchdog urges investors to be vigilant, especially if they are cold called.
Details of the Clone Firm:
Name: LondonFX- Address: 34 Threadneedle Street, London, EC2R 8AY
- Tel: 02033896283
- Email: [email protected]
- Website: www.londonfx.cn/en
Authorized firm:
Firm name: Ikon Capital Limited- Firm reference number: 481068
- Former Trading name: LondonFX
- Address: 34 Threadneedle Street, London, EC2R 8AY
- Tel: 02070991480
- Email: [email protected]
- Website: https://www.ikoncapital.co.uk
To view the warning from the FCA, click here.