Clone Firm! The UK FCA Warns a Clone of Zenfinex - BrokersView
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Clone Firm! The UK FCA Warns a Clone of Zenfinex

Aug 02, 2022 Brokersview

Recently, the British financial market supervisor, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning to remind traders to avoid zfxtrade.com which is believed to be a clone firm of Zenfinex. The scammer "zfxtrade.com" pretended to be Zenfinex. Be careful! You may be trading with a fake Zenfinex.


A Copycat

The website(https://zfxtrade.com is a clone firm of the FCA-regulated company Zenfine(https://zenfinex.co.uk).  At the first sight, traders may be confused by the two websites and think the fraud Zenfinex is a subsidiary of the legitimate Zenfinex because they have same design and regulatory information. But actually they have no connections.

If you have watched carefully, you would find the fake Zenfinex even mentioned the approved website "https://zenfinex.co.uk/" on its page! It was using a trick to lower your defenses. Some investors may misunderstand that both websites belonged to the UK FCA-regulated company. 


UK FCA Register Searching Result

If traders wanted to verify which one is the real Zenfinex, the UK FCA - one of the top-tier financial regulators in the world - would be "a monster-revealing mirror" to help you to figure out the truth.

Both of the websites claimed to be regulated by UK FCA under firm reference number 816055. By searching the number in the UK FCA register, we found the approved website is the former one, "https://zenfinex.co.uk/". That is to say, "https://zfxtrade.com" belonged to an unregulated company and is a scam. 


Warning Issued by UK FCA

A few days ago, UK FCA issued a warning against the fake Zenfinex. It believed that the fraudster is illegally using the information of the firm that UK FCA authorized to provide financial services.

Based on the above information, we can conclude that "https://zfxtrade.com" is a clone of Zenfinex.

Investing is risky enough, so do not let scammers have your money! It is always useful to check the licenses of the broker before you trade with them. If you have trouble with brokers, you can contact us at service@brokersview.com.


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