UK’s regulator, the Financial Conduct Authority (FCA), has issued a warning that the forex broker Markets DL is using the details of an FCA regulated company to confound its potential clients and ultimately scam them.
“This firm (Markets DL) is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm”, says the FCA.
According to the regulator Markets DL is using a mix of its own contact details and that of the FCA regulated forex broker Currencies Direct Financial Markets Limited (CDFM) and falsely claims it is associated with it.
The details of the clone Markets DL are the following:
Address: Office 7, 35-37 Ludgate Hill, EC4M 7JN, London, UK
Phone: +44 (0)20 3808 4328
The correct details of the cloned company are:
Name: Currencies Direct Financial Markets Limited
Address: One Canada Square, Canary Wharf, London, E14 5AA
Phone: +44 (0)20 7847 9400
CDFM is a subsidiary of Currencies Direct – a UK company offering money transferring services both to retail customers and businesses – and offers forex options for simple and complex hedging strategies.
The clone Markets DL claims to be owned by Global Markets Online Ltd. and offers trading in forex and CFDs on MetaTrader 4. The company does not provide any regulatory information.