UK’s FCA warns against GulfFX clone firm

Discussion in 'Forex Brokers' started by mlawson71, Dec 20, 2018.

  1. The UK’s Financial Conduct Authority has updated its warning list with GulfFX – a broker that falsely claims to operate under a legit company, licensed by the regulator.

    The FCA further warns that “fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.”

    In the case of GulfFX, the broker has used the name of FCA-licensed Gulf Central Merchant Bank Ltd. (together with its FRN).. Nonetheless, the broker is not associated with the regulated company.
     
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