Importance of knowing your Broker: FCA UK warns of clone brokerage firm

June 2020, FCA UK has issued a warning over a broker named UK Forex, operating in the UK, which was found to be a clone of FXOpen broker. The clone broker and their website were shortly closed. It serves as yet another reminder to be on the watch for financial scams. A company that has a seemingly well rounded website, with listed contacts and offices as well as claiming to be trustworthy and regulated (in the latest case, regulated by FCA UK), may still be a long way from being legit.

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