The Licence Number on the Website Could Belong to Someone Else
Scam brokers copy the name, registration number and address of genuinely authorised firms. Checking the regulator's own register, and contacting the firm only through the details listed there, is the step that catches them.
By the UISC BD Editorial Desk · United Information Service Center · Published 13 September 2026 · 6-minute read
This article is general information, not financial or legal advice.
A professional website, a registration number in the footer and a London address look convincing. None of it proves the firm is who it says it is.
What a Clone Firm Is
The UK's Financial Conduct Authority describes the tactic directly: fake trading and brokerage firms use the name, firm registration number (FRN) and address of firms and individuals that genuinely are FCA-authorised. This is called a clone firm.
The registration number is real. The address is real. The company on the register is real. The website, phone number and bank account are not theirs.
The FCA regularly publishes warnings naming such clones, including firms trading under names such as "Forex Premium" and "Forex-max", flagged as clones of authorised firms.
The Five-Minute Check
- Search the regulator's own register. In the UK, that is the FCA Financial Services Register, via its Firm Checker. Do not use a link from the broker's website — type the regulator's address yourself.
- Confirm the permissions. Being on the register is not enough. The firm must be authorised for the specific service it is offering you.
- Compare the contact details. Check the website address, phone number and email on the register against the ones you were given. A mismatch is the signature of a clone.
- Contact the firm only through the register's details. The FCA advises that if a financial business contacts you unexpectedly, you reply using the contact details listed on the Firm Checker — not the ones in the message.
- Search the warning list. The FCA Warning List names unauthorised firms and individuals that are not allowed to operate in the UK.
Other major regulators — including Cyprus's CySEC and Australia's ASIC — run their own public registers. The same principle applies everywhere: verify on the regulator's site, not the broker's.
What You Lose With an Unauthorised Firm
According to the FCA, if you deal with an unauthorised firm:
- You cannot complain to the Financial Ombudsman Service.
- You are not protected by the Financial Services Compensation Scheme if the firm goes out of business.
In practice, money sent to an unauthorised or clone firm is very rarely recovered.
Warning Signs Before You Even Check
- Unexpected contact — a call, message or social media approach you did not initiate.
- Pressure to decide quickly, or a "limited-time" bonus.
- Leverage far above regulated limits — covered in our leverage guide.
- Promises of guaranteed or consistent returns.
- Requests to pay by cryptocurrency or to an individual's bank account.
- Difficulty withdrawing, or new fees demanded before a withdrawal is released.
If You Think You Have Been Targeted
The FCA asks people to report suspected scams, and says it looks into every report — which can help protect others. Stop sending money, keep every record of the conversation and payments, and contact your bank immediately.
For a wider list of red flags across forex, crypto and AI-themed schemes, see our scam checklist.
Related reading
- Ten Red Flags of a Financial Scam, From Forex to Crypto to AI
- Pig Butchering Scams: The Long Con Now Run by AI
- Deepfake Fraud: Three Seconds of Audio Can Clone a Voice
- AI Trading Bots: What They Can Do, and Why Regulators Keep Warning
Sources
- "Forex trading scams," Financial Conduct Authority — fca.org.uk
- "FCA Warning List of unauthorised firms," Financial Conduct Authority — fca.org.uk
- "Financial Services Register," Financial Conduct Authority — fca.org.uk
- "Forex Premium (clone of FCA authorised firm)," Financial Conduct Authority — fca.org.uk
