UK’s Financial Conduct Authority (FCA) has warned that the company Global Marketing Online Limited / ADS Securit(i)es is a clone of the properly regulated forex brokerage ADS Securities London Limited.
According to the FCA, the scam company is operating from the website www.ads-securites.com and has an address in London. Both the website and the business address, however, are different from those of the original company, whose site is www.adsprime.co.uk.
“Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm”, FCA said in its notice.
At first sight, the clone company ADS Securites (notice the missing “i” in the name) seems legitimate, but at a closer inspection one can find some typos, no regulation information and other discrepancies.
It seems, however, that the fake company is also targeting mostly Arabic customers, similarly to the parent company – ADS Securities, which is based in Abu Dhabi and licensed by the Central Bank of the United Arab Emirates (UAE).
ADS Securities offers retail and institutional financial services, including trading in forex, contracts for difference (CFDs) and precious metals. Other services of the company include global market, investment banking and wealth and asset management. The company is based in Abu Dhabi, but has branches in Hong Kong, Singapore and London. Respectively, they are regulated by Hong Kong’s FSC and UK’s FCA.