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UK’s Financial Conduct Authority (FCA) has issued a warning of a clone of the FCA-registered and regulated forex broker GO Markets UK Trading Limited, going by the name Go Markets UK.
The watchdog does not provide details of the fake company, but gives the correct name, the financial registry number, the contact details and the business address of the real one. It is authorized to offer, promote or sell services or product in the UK (and the rest of the EU, at least for the time being).
Firm Name: GO Markets UK Trading Limited
Trading and Registered Office Address: Birchin Court, 20 Birchin Lane, London, EC3V 9DU
Tel: 0203 713 4490
GO Markets UK Trading Limited offers trading in forex and CFDs with a maximum leverage of 1:300 on the MetaTrader 4 platform and provides services to retail and institutional clients in the UK and worldwide.
The FCA notes that clones are often scams or boiler rooms using the names of properly registered companies in order to mislead potential investors and urges the public to be cautious.
Meanwhile, the Finance Magnates site reports that GO Markets UK Trading Limited is in the process of rebranding itself into INFINOX CAPITAL LTD., as of July 18 this year. The change is hardly provoked by the existence of the aforementioned clone and has probably been in the works for a while.
Under the new name, the company will maintain its offering and existing partnerships and will focus more on important trading tools, education and customer service.
Between 2009 and 2014 GO Markets UK Trading Limited was using the brand name of VantageFX, under an agreement with the Australian VantageFX which had its own FCA license. In 2014 the partnership was rebranded to GO Markets.