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Client Account Restricted, Further Deposits Demanded by Clone FXCM Citing "Abnormal Operations" and "AML Violations"

2025-02-03 BrokersView

BrokersView exposes a new clone website of FXCM

Recently, BrokersView has identified a concerning increase in clone scams, with a new case involving a clone website of well-known broker FXCM unveiled in a client complaint, following a notable clone fraud incident that surfaced in early January. The January case uncovered a deceptive clone of the broker ADSS that subjected a trader to a series of fraudulent charges, including insurance fees and account verification fees, causing devastating financial losses for the victim.  

 

The recent new incident revealed similar but even more insidious tactics by scammers. A client from the United Kingdom reported that the clone website of FXCM https://fxcm.gayspankslaves.com restricted his account on two occasions and demanded a deposit of $18,000.

 

the victim's account details on the fake FXCM website

client account details at the fake FXCM

 

Client account restricted due to “abnormal operations” and “AML violation”: further deposits demanded 

 

After the attempts to withdraw failed, the client received a response from the clone FXCM that his account was restricted due to suspicion of “abnormal operations” and "anti-money laundering (AML) violation" and that he needed to deposit $12,000 to normalize it. 

 

client account was restricted due to so-called "abnormal operations" and "money laundering activities"

 

When the client refused to pay the amount, the company then pressured the client that his credit score would be downgraded. The client faced persistent subsequent reminders of depositing.

 

fake FXCM pressured the client to continue to deposit more funds

 

Despite depositing the required amount, he still failed to withdraw funds. He continued to receive an email demanding an additional deposit of $18,000, citing the same reason.

 

fake FXCM pressured the client to continue to deposit more funds

 

Fake UK Regulatory Authority AML statement 

 

The client requested an investigation report about his “violation” from the clone broker and subsequently received a purported statement from FXCM Financial Ltd regarding the supposed UK regulatory authority's anti-money laundering requirements. This statement misused the former name of FXCM UK's branch Stratos Markets Limited, FXCM Financial Ltd.

 

The fake statement alleged that abnormal transaction characteristics had been detected in the client's transactions, thereby issuing a risk warning for suspected involvement in money laundering activities. The clone company attempted to justify the account restrictions by claiming that the action was aimed at combatting illegal money laundering and maintaining the stability and integrity of the financial market.

 

In the statement, the clone FXCM asked the client to pay a margin of 30% of his total account funds to "ensure the smooth progress of subsequent investigations and the controllability of potential risks."

 

30% margin will be returned? Impossible!

 

Additionally, the company claimed that the amount was merely held in temporary custody and would be returned in full once the investigation was completed and no violations were confirmed.

 

fake FXCM promised a future refund of the margin paid by client

 

Everything was part of the clone company’s broader scheme to dupe the client into transferring more money, with the promise of a refund never materializing. 

 

Other fees

 

In addition, the client was also asked to pay 10% of the amount when he attempted to withdraw $12,000, which is purportedly an international account exchange rate and handling fee. The fee confused the client and raised his suspicion. Scammers continuously exploit their victims as long as they have plausible excuses.

 

client was also asked to pay 10% of the withdrawal as an exchange rate and handling fee

 

Beware: clone websites and advance fee fraud

 

Financial criminals are becoming more sophisticated in creating clone websites that mimic legitimate brokers. Always confirm the authenticity of a trading website and the broker's credentials before making any financial commitments.

 

Advance fee fraud often involves unexpected demands for payments under the guise of various false pretenses, such as the “AML violation suspicion” in the above case.

 

If you encounter a clone website or suspect a scam, report it to the relevant authorities and stop any transaction immediately.

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