UK’s FCA says Assets Investments, HB Trading are clone brokers

UK’s FCA says Assets Investments, HB Trading are clone brokers

The UK’s financial watchdog, the Financial Conduct Authority (FCA), has pointed the lights to two forex brokers, Assets Investments and Hans Bernauer, a.k.a. HB Trading, which have been copying the details, brands and activities of registered forex brokers.

HB Trading (www.hansbernauer.com) has been pretending to be associated with Australian-licensed forex broker Hans Bernauer, while Asset Investments (assets-investments.com) has been trying to improperly associate itself with Asset and Investments, regulated in the UK. The two fraudsters have, in fact, not been associated to the brokers, which have been licensed by the FCA, or the relevant authorities in Australia.

As part of their scam tactics, HB Trading and Asset Investments have been initiated contacts with potential traders in the UK, pretending to be associated to or work for Hans Bernauer or Asset and Investments, when in fact they have nothing in common. The copy brokers have even cited the addresses of the genuine brokers, as well as their firm reference numbers, in order to seem more authentic.

The watchdog asks traders to report clone brokers if they have any suspicions they may be conducting financial services, using details of other brokers.

The FCA keeps a list of licensed companies that are regulated to meet its requirements and all other entities that are not included in the list may appear to be a scam.

We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.

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