Fake regulation and clone firms
Scam brokers love to display official-looking badges that link nowhere or cite a licence number that does not match their name. The badge means nothing until you verify it at the regulator's own site.
Fake badges and clone firms
Some sites show logos (FCA, CySEC, ASIC, NFA) that link nowhere, or cite a licence number registered to a different company. Others go further and impersonate a genuine licensed firm — a clone firm — using a real licence number with a slightly altered name, website or contact details.
Why you must verify at the source
A badge or number proves nothing on the broker's own page. It only counts when you find it on the regulator's register and the firm's website, email and phone match exactly. Any mismatch points to a clone of a legitimate, licensed firm.
How to spot it
- Regulator badges that link nowhere or to the broker's own page
- A licence number that does not match the company name
- Regulation claimed only in a jurisdiction with no real oversight
- Website, email or phone that differ from the register
- Reluctance to state the exact regulated entity
How to protect yourself
- Verify the licence on the regulator's own register, never via the broker's link
- Check the website, email and phone match the register exactly
- Cross-check the FCA Warning List and IOSCO I-SCAN
- If anything mismatches, assume it is a clone and walk away
Other warning signs
Aggressive video ads on social media
Slick Facebook, Instagram, TikTok and YouTube ads promising fast profit — often with a deepfaked celebrity.
An "AI bot" that "trades for you"
"Our AI trades automatically and guarantees profit" is a pure lure — no licensed product can guarantee returns.
The €250 / $250 starter deposit
The near-identical ~250 opening figure is the fingerprint of countless scam funnels.
The "account manager": conversion, then retention
First a "conversion" agent talks you into depositing; then a "retention" agent keeps you depositing.
Guaranteed or unrealistic returns
"Risk-free", "guaranteed daily profit", "double your money" — certainty is the lie.
Withdrawal problems and shifting goalposts
Suddenly there is a "tax" or "release fee" before you can withdraw — each one just another deposit.
Dubious contracts and hidden clauses at sign-up
Bonus terms that lock your funds, rights waivers, and impossible trading-volume conditions.