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The Federal Financial Supervisory Authority (BaFin), an independent German regulatory institution, today warned investors of a clone firm that has been posing as Forex Capital Markets Limited, the UK arm of leading multi-asset broker FXCM Group.
The BaFin alleges that the copycat broker has chosen to operate under the brand ‘FXC Markets’, a name similar enough to Forex Capital Markets that it convinced local traders that it was the authorized online trading firm that had contacted them.
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The illegitimate broker, conversely, did not assume the address at which the original company’s ... (read more)