German Watchdog Alerts Public to FXCM Clone

[kreslik.news]

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)